The Clinton chronicle. (Clinton, S.C.) 1901-current, October 26, 1950, Image 12
Page Four
THE CLINTON CHRONICLE
WHERE CO YOU GO FROM HERE,
COTTON; HOW HIGH WILE YOU BE!
jn A!r.ca Jnd S
t Thr Can
Hu two Ca
(By J. A. Darby in Charlotte
News).
Carolina textile mill executives
and cotton dealers are wondering
where the relatively scarce cotton
bales will go from here—and at what
prices.
Cotton markets of the worid, a few
strategic material in wartime, cur
rently is practically banned from the
world trade because of an unprece
dented supply crisis.
Cotton markets f the world, a few
of which remain open, are involved
in turmoil, reflecting recently im
posed, drastic American Government
export restrictions.
Lnd Not in Sight
Representative men, among the
numerous Chariotteans widely known ,
in the spot cotton trade, said today
tha,t the end is not in sight lor tjtis;
series of Governmental actions, at
Washington and in capitals of other
cotton-textile nations, especially Pak- .
ntan ind India.
When the United States, in histor-,
ic action a week ago, imposed tight
limitations on cotton exports, the!
price of Paki.'.tan cotton boomed to
around 60 cents per pound. That was
about 20 cents per pound above the
quota*..on prevailingf then in the still
excited Amen an markets.
Pakistan immediately banned all
dealings ia cotton find embargoed,
exports. Tnn .ms a severe econom-;
i>. blow to ajaccnt jlndia and some i
other cotton consuming countries, j
Cotton is selling in Brazil around •
54 1-5 cents and in Mexico around j
5<i len s per pound.
tJro.’.amic influences of this world
tr ie upset spread vnth varying im-
p.i.ts upon cott -n producing nations)
and South America.
•iinaC Stake
rolinas particularly \
h- re - tremendously important stake
ir. th.» situat.an The two states!
hu.e more than one«third of ali the
n/.ton spind.es in tne United States ,
Tnr*e mills empl *y nearly WO.000
rr• n and women
Hundreds of men are engaged in
«< !:ng raw cotton and cotton textile*
lr.cn. there are the many thousands
o' Carolina cott an growers, who sus-
ta.r.ed se\rre financial iosaes this
so.nvnef wher. the bull wevv.l and
unfavorable weather broadly reduced
yu ds
The S.>o:h % cation output this year
Is esTimatel at g bOO.EIOC bales, com■
pares! arr.h lt.g0Q.000 bales last year
The Washm^tun Government, fllMrtU
1> befurv restricting cotton export*,
lifted at. restrictim* on cotton acre
age next year and urged painting Us*
w-rd a 14 000.00b-bale crop*
The-, came ’-he export roatroU and'
the Near York and New Orleans cot-
Ion futures markets went into price
nose ones In six trading days prior
U. Tuesday, cotton prices deci.ned as,
mu.n as f 17 M per bate
krtsaa Pruiesled
Meaniime. storms of proCMt
against tne timing of the Amer.canI
export control order came from the'
highly p.accd poUtical sources over*
the S*<uth, from leader* of fanners*|
organizations, from spokesmen to* j
the cotton dealers, and from other
bu-mest sour.es
Even the cotton manufacturers
have rvecome worried Their mills!
are operating at capacity and de-j
mar.d is unusually heavy for com
bined need* of the national rearma-l
merit program and the 150,000.000 ci
vilian Americans. The break in cot
ton price . with textiles sold already
in great volume for deliveries
thraugn next March or later, created
a pro-pect of upset textile prices and
actual or paper losses in cotton mill
in; entones.
Farnici o leaders in several stales
urged cotton growers to start now
converting cotton land into pastures.
North Carolina Agriculture Commis
sioner Balie/itine saw economic dan
ger there. He quickly warned that
Carolina cotton, growers should gu
slow about any additional, great
switch from cotton production. He
emphasized that normally cotton is
one ot the two major sources (tobac
co is the other) of North Carolina
/arm income.
This possible trend toward replac
ing cotton with pastures and live
stock treated in many quarters a
fear that something like a rebellion
on the part of tarms might result
from the break in cotton prices at
the time of this season’s peak marw-
eting. Many critics of the timing of
the U. S. exports control order are
basing their criticisms on the fact
that the Dept, of Agriculture chose
October instead of December, after
the cot.on had moved from growers’
hands.
High Cost Farming
In the background of this disquiet
ing agricultural-tendency is the wide
spread knowledge that, at best cot
ton prouction now is a high cost farm
activity.
This cost problem, plus boll wee
vils, weather uncertainties, and fer
tilizer shortages, was emphasized in
directly by a warning issued to cot
ton growers by Clemson College’s ex
tension advisory committee.
The Clemson committee urged cot
ton farmers to buy now all the sup
plies cf nitrogen, potash, and in
sect poisons that they expect to need
next Summer in their efforts to meet
the nation's need for a great crop.
This committee explained that these
essentia! materials for agriculture
will be acutely scarce next spring. /
Mississippi Valley, Memphis area,
and Texas organizations of farmers
and cotton shippers are exerting
heavy pressures upon their United
States Senators to obtain at least
some considerable modification of
the U. S. cotton export license order.
Those are the great cotton growing
areas, as the crop continues its slow,
steady movement westward from the
Carolinas.
Restrictions on exports haji been
advocated strongly for several weeks
prior to the issue of the U. S. order.
Trade reports frequently said that
the American mills were urgently de
siring adequate protection for their
supplies, expected to total around
11,000,000 bales in this crop year.
Grer.t Britain, reacting promptly to
these signs of coming limitations, be
gan scouring all other cotton supply
sources of the world for replacements
for cotton from America.
Canada Exempt
The Economic Co-operation Ad
ministration’s industries, as well as
the textile industries of France, Bel
gium, Germany, Holland, and Japan,
received jolts from the U. S. exports
curbs. However, U. S. cotton exports
to Canada were exempted from the
order.
The first of a possible extended
series of high level conferences is
being held at Washington in the ef
fort to obtain modification of' these
curbs. Available indications through
trade channels are that the objec
tives of these meetings are related
more to the longer term than to un
doing whatever adverse consequen
ces the controls have had on the pre
sent trade and prices.
Meantime, the answer to the ques
tion: "Where does cotton go from
here”, may not be definitely known
until next mid-summer—and until
then scarcity of cotton must persist.
=
Thursday, October 26, 1950
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