Newspaper Page Text
v L —————————————s——
$132,000,000 1S VALUE OF
SOUTH'S 1915 COTTON CRop
Restricted Aereage To Be Factor in Bringing
About Predicted Price of 15 Cents—Banks
Aiding Farmers in Determination to Hold
Staple for Rise.
By VICTOR BARRON.
The close of the year of 19156 found
the cotton market in a strong tech
nical and statistical position and fac
ing a prospect of probably the great
est activity and strength in its his
tory with the Southern farmers hold
ing the whip hand and riding on
‘“velvet,” so to speak, for the first
time in many years.
Then, too, it found spot cotton
future contracts in New York nearly
4 1-2 cents, or $26 a bale higher
than at the same date last year, while
in New Orleans prices were slightly
more than 4 1-2 cents higher and in
Liverpool nearly 7 cents higher,
Unless all signs fail the ensuing
zou will be a period of strength and
ring prosperity such as farmers
haven't had in years,
During the past year fluctuations
in the cotton market have been very
erratic and tndln'f has been on an
enormous scale. he latter part of
m. found cotton selling at 10.92
it sold as low as 7.70 shortly
after the Exchanges reopened on
November 18, 1914. During May a
rapid decline of about 1 1-2 cents was
registered due to the Lusitania dis
aster and the grave diplomatic rela
tions between this country and Ger
many. |
Under the stimulus of American
mill takings of 6,497.000 bales and ex
ports of §,545,000 bales for the 12
months ending July 31, 1915, when
the most rampant bull couldn’t fore
#es exports of but only 3,000,000 to
4,000,000 bales at the beginning of the
rnr. prices began to climb and after
ng violently Q‘ times, reached
12.70 for October, 13.20 for January
and 13.88 for May by October 5.
High Levels ‘uohod
% These levels were the highest
“prices cdtion has _®id at since the
great European war began. This
advance was followed by a lharp‘
decline of about 1 3-4 cents, How
ever, nearly all of this decline has
m«o‘. due chiefly to the stub
eas of Southern spot holders
who had enough grit to battle with
the consumers. They maintained
their holding movement throughout
October, November and December
and at the present writing they show
no signs whatever of weakening.
They are determined not to let the
consumers nams the price of cotton
and If they continue their stand-pat
policy they are sure to win the great.
ot battle ever waged between (wo
opposing elementis, one irying to get
“something for nothing” and the
other “something for hard strife snd
m.;. With the aid of the l"n.‘lrt";
-n-‘ system, which has
bean the grandfather 1o the farmers
during the world's greatest mg:nn{
crisis, the farmers are showing no
unsasiness regarding the cutcome of
Mw with the mills. They
are t of 15-cemt cotton by
z~ and are offering but little of
staple around 12 cents
Twelve Million Bales.
The year's advance in cotton means
that the South starts the New Year
Off 5252000000 richer than a year
LI ‘Lm on a 12.000000.ba1e
erop, luding linters, repacks and
other similar iHHems comprising the
Q!m“uon of a cotton crop,
but eof the net value of the
cotton seed thereof w based on
the current price—349 ton—and a
private sstimate of & 5,000 600
pounds, would be about $350,000,000,
or about one-third of the total value
of the cotton crop, which is $732.006, .
000, based .on & 12.000.000.ba1e crop
&t 13 cents, the current price.
One year ago io-day the future
outlook to the cotton marke! was as
Dlack as pitch and the farmers were
@8 blue as the honored sirips that
adorns the American flag Every.
where the feeling was bearish 1o the
core with not a %-cent bull In sight
Put during the last 345 davs
phenomenal changes have been wit.
pessed In the cotton world and to
h‘ sentiment fs unanimously bullish
who were rampant bears 11
months ago and going “long” of the
Mnm. are now the most
and rampant bulls that
have ever yelled their hids across the
ring in & wild and vigorous upward
movement. Included in this bullish
clement are such famous rolton Sue
erators ae lmu Scales, £ ¥ Hut.
ton, Prank yoe, the McFaddens
ond the Waldorf-Astor clipne and
other big “guns” in the cotion world
*he have won and lost soores of
fortunes. These traders are now,
and have been for monthe predicting
18 conts by spring and 20 conts when
the war ende
Export Situation Grave.
The market has been & dull pre
Boliday affair for the last two weehs
With price movement very Barrow
And mote or less trvegular The sup
Ply and demmand proposition has be
me the dominating mflgence and
the course of values for the nest few
months will e governed by (his
Poriant question Mowsver, both of
Iheve imparian: fartore have ling seo
beon added to the huile hais Faet
=.lh moment (he expart siiustion
DOt rßusing some apptc Senel n
mv houses. The coneergus of
w that this »71! soon .4;«0‘!
ficiently to diepe’ the dark
:?‘ NOW overshadowing Ihe mar
isl & marhet ae ihe jresent one
1 o absolgtely uselens 15 talk bear
hly. The bears are fully aware of
i and are sllent There sst &
Singte benrish factor in their fauor
hat 10, with the poseitic exception of
the carrent tople of @i yasinn the
continued afvance in freight rates ‘
Froight mies are now quated as
N" as 3235 1" sgt an,,ggeh-m”
ra«m the New Ortcans port This
Providing & severs hasdican 1o e l
Poriers who Rave comsmiimer s 1 the
other side of The “gemd” 1o R Foreighd
atee from Im::. Pats e Lives
ot rangs from 1250 por s e
umm'h:. g t‘.«mtq
By Ihat anly Hmted feoms o ae b ew
w ®ren a 1 Uheee epmitite ot Bg wee
SAIEMRIy Pairiets the ee et
irade and cromtes & Bmsiioh feml mg
R
- L I T |
zn would have Bn fureige marhod |
heir ol o j
Wihite thie Io the anly bawiish a 8
Eament 4t Ihe MRelßes; o e o 8
Phelied the Patale it i fndong owm v
away on the receipt of the news /to
the effect that the British Government
would take over all the merchant ma
rine of that country. ‘Conservative
observers of the market construe this
as decldedly bullish, therefore elimi
nating the bearish argument, as indi
cating that the British Government,
realizing the economic danger in
volved in such high rates on the fleecy
staple shipments, would set aside a
certain number of these vessels to
transport cotton to the other side.
Should this be done, rates undoubted -
ly would fall to $1.50 per hundred
pounds, greatly relieving the congest -
ed export situation, and probably pre
:":r:‘t.lnc a crisis in the export situa-
On the other hand, at the rate the
stock of cotton is. decreasing in Liv
eérpool, it would not be long before
English spinners will force their Gov
ernment to furnish the necessary ves
sels to bring them cotton, Ships are
ample, but are now engaged in trans
porting troops and munitions of war
and carrying grain. It is believed in
well-informed quarters that these
vessels can and soon will be diverted
to the use of the cotton trade.
As to the statistical m&oa of the
market, everyone knows n that the
crop is a short one, and that, even
with last year's carry-over, the sup
ply of cotton is barely enough to sat-
Issy requirements until another crop
can be made ready for the market.
Onr Is ‘hort One.
The following shows the supply of
cotton for 1915-16 and Indicated sur
plus at the end of this season, as
complied by H. F. Bachman & Co., of
New York, recently:
Carried over at uncounted
interior towns and on
plantations, July 31, 1914.. 1,500,000
Crop of 1915 (lint), United
Siates estimate sees e 11,181,000
Crop of 195 (lintersp...... 550,000
Commercial crop. 1915-16 ..13.511,000
Into sight to date .......... 6200889
To be marketed during bal
ance of the season . o 0 7,310,111
World's visible supply
CATMOTIORRD . .ovvunscacs.. 4006014
Total -uofr R 11,784.125
Spinners’ takinga st the rate
of 1250000 bales per
month, seven and one-half
months from now uniil
August 1, 1918 .......... 9.375.000
Leaving visible supipy end
of this season ... co 2409125
The indicated visible or carry-oves
At the end of this season. amounting
10 2,409,125 bales, i the largest carry
over within the past ten years, except
last yoar, and compares with 2,106,000
bales last year, 1550000 in 1913, 1.
GAAOBO in 1912, 1359000 In 1811, 822.
000 in 1910, 763,000 in 1909, 1,429,000 in
”,:: LISE.OOO in 1906, and 864000 in
i
The sllowance ahove of 92375000
bales for spinvers’ takings during the
zu-lador of the ssason seams ample,
they have already taken 5 765 608,
which would point to total takings for
the season of about 142480000 bales,
compared with 14,041,600 last year and
N.ORM in 1912, when the world was
At peace.
Total takings of 14,245,000 bales for
this season would be sufficient to
cover the world's consumption. which
is being estimated at 14,000,000 hales
against 13760000 hales last year and
14,250,000 bales in 1913,
American mill stocks, as reported
by the United States Census Burens
on Decomber 1. 19315, amounted to 1.
€12.160 bales compared with 19562102
bales last year to the same date
Diversification a Factor,
Information as to the outlook for a
cotton crop this year is very little and
not reliable, as it is entirely too early
to got 4 line on what the farmers in
tend 1o do this year. Many keen
judges of conditions say. with much
asstirance. that divers fication will be
Just as extensively as last
fear. and that the farmers are de
termined not to plant a single acre
more than they did in 1915 The con.
cluston drawn from conversation with
farmers and business men (hroughout
the belt is that mcv;.u'lmuvh'n::;
pendence among armers to
them to hind themeelves to & certain
percentage of reduction This was
the case last year, but they cut the
Scteage over SOOOOBO acres. com
pared with 1914 when the acreage
was over 36 500 600 |
People throughout the Southern
Sates, as :.nla are vcg-mwm
Mississinpl. Pusiness ie rushing and
the farmers are finding plenty of
Mmoney at low Pates of interest.
Whether divervification of crops wijl
be practiond as extensively as & your
age no ane can tell. According 1o the
Gevernment's estimate on (he winter
Ivhnt acteage, the cotton-Erowing
Btates will not plant as much winter
wheat as they 4id last year by over
00 6 meves Whether (his acreage
Wil be held for cotion of not i Is not
Rnomn <
Those hearishly inclined contond
that the hanks will eall in Joans durs
ing January and Pebroary, forcing
the farmers to sel] (heir collon in of«
der 1o mest thelr oblieations. How
over, it is pointad out by the bullish
wietment (hat the hanke hase sufMiciont
funde in reserce 16 extend these
potes e any length of time the hor
tomete dew'in
O ihe otber hand. (he hanks have
woiting olee hatdis o lend money o
eroept eniton and i W m’ -t '.'ll
they will et the farmers for
oyooey in mLQm '~ r“‘
eral Reserve Panks are back of (he
cotion fatmmed and thers are miilions
and MiTione of dolare of idie cnah in
thelr treasury waliing o be ealled
ton
fogarding the side of Ihe present
entton crap Srefiane sven Ihe hewrs,
agress hat the oitimate cutput will be
areand 110080 Baies ilncluding
linters, fopache #ie The overs.
enis selimaie on he ise of the
“rop, Pubitehad Tovembes 18 egiled
for & cvan of omily 11060 008 Sales oy .
elgeive of Dnieve and regncihs The
fiutes wore fegarded by the trnde as
Justifring the sma’l sotimates pub
lmbed B private satheritien =sl
raignd ae loe ae I\l“‘i”w 5.0 .
Shtand a 8 Nigh as 11750008 45 33 -
HEANE Bales The latier selimmies
of cowres inrinded fipters, While ihe
Toanes mWw cpeleic® of Daiers
HEARST'S SUNDAY AMERICAN, 'ATLANTA. GA., SUNDAY, JANUARY 2 1916.
Robert L, Foreman
Sees Good Business
In the Coming Year
“The business of life insurance is
naturally dependent upon general
financlal conditions,” said Robert L,
Foreman, State agent of the Mutual
Benefit Life Insurance Company of
Newark, N. J. “When people are
pbrosperous and have a little surplus
money, they are ready to make pro
vision for their families in the shape
of life insurance, and to deposit in
savings institutions. When times are
hard and money scarce, they are slow
to increase their insurance, and many
of them utilize the loan privilege in
their policy to borrow money.
“In Georgia during the past year
conditions have been somewhat bet
ter than in the fall of 1914. In cities
the life insurance business has been
fairly good. In the country, however,
from which comes a large part of
our best business, the volume will not
be up to the normal. Many farmers
carried over debts from last year
which had to be paid, and others are
still holding their cotton for higher
prices. Besides this, the lesson of the
war has nt been lost on the Georgia
farmer, who in the past has been too
ready to give promissory notes. In
other words, the business done has
been largely on a ecash basls, and
therefore more satisfactory in qual
ity, though somewhat less in quan
tity. Collections have been good, and
the loans on policies are not nearly
so frequent as a year ago.
“As to 1916, personally 1 feel op
timistic. The farmers have pretty
nearly paid up their outstanding
debts and nhoufil approach the new
crop in better shape than for many
years past. The disorganizing pan
icky feeling which came with the
war has now passed. All realize that
war or no war the world needs and
can find the money to pay for prod
ucts of the farm. They have {earned
in a large measure to live at home,
and this means that they will have
money for investment, and life in
surance is going to share fully in
these prosperous conditions. On the
loans made by this company on Geor
gia farme amounting to several mil
lion dollars, the interest is being
promptly paid, and our agents
throughout the State are feeling
good.”
Farm Prosperity
Real Barometer,
Declares Dunlap
cum - -
“The two reasons | have for think-
Ing that 1916 is to be Atlanta's hest
and most prosperous year are the con. |
dition of the farmer and the condition
of the money market,” said l-:d.at!
Dunlap, of the Dunlap Agency,
“Farmers generally, and cotton ETow. |
ers in particular, are more prosper
ous right now than they have been for
vears. The monoy market !s easier,
illul money is more plentifu! for loans
At § per vent than at any time during
the inst two years
‘ “The United States at large, and the
Routh in particular, was in the throes
of hard times when the European war
began. Every business man lost m-'
courage with the opening of hostill.
tien But we have learned how to
take care of curselves, even though
War is raging in Eurore. We have
learned that there is enough money in |
the United Siates 1o carry on l—mu.'
mate business without borrowing in
foreign marketls l
“There is no gainsdving the fact
that the export bus'ness resy !m'!
from the ronproductiveness of Fu
rope has greatiy helped this countrs =
But the fact remains that every ne |
of business, ax well as the munitions
maker, is enjoying a prosperity r.l
Vival
There is reason to believe that the
ralironds are golng to he left alone fn"
some time to come. This will cause
the milroads to make Improvements
And this will put money in circula
tion and make for prosperits
“1 do not ook for a building boom
n Atianta, but | do look for a great
id;ml of substantial building during
i9s
’ "Atianta is the fourth ety 'n insur.
snce business in the United Siutes
i'l‘hio city = recosnized as the eapital
lof the South. What takes rlace hers
is indicative of conditions all thre axh |
'nw Kogth Every insurarces man in
Atianta s ronvinesd that 1518 will be
lm. Test year
_ The production of eation has heen
;m-u!' econamically The ecrop us
| smalier. although quite up to stand. |
(ard. This means & higher price. And
lflni. In ture means prosperity for the
farmer and svershody who has ans
deniings with the farmer, directly or
Indirectls
“It be mafe to say. | heliove that 1918
Wil be ane of the most prosperous
yonre Atlanta and the Eouth has ever
known *
By Edwin Harper
"Business in all lines is picking wm‘
and | believe 1916 will be the banner
year for insurance men.” said r‘;avll
T Marpes Loans are iwing made |
freely. There is a veal demand for
’mfl buaildinge. and the insurance .wfig
an companies are placing mosey |
maeh maore readily than for clgt Ve |
mwonthe past Metehants are fHlling'
up "helr slovka which they ailowed Qni
ron down because of the cond uflr.‘
brought an by the Buropean war T v |
Means thorey lo (e pesrance an i
“Bevera! of the Bouthern umm.h!
Bfe PIARN MG eßTeßeive IMIEFo een e
AN curetrariion wath Fatahi ahad
businessrs are getiing resdy 1o ea.
arge s take sare of Te st :1.,'
tramde This alee means money 19
e tneurance e s !
“The worst petiod of husiness - ard |
this applies s Insuranre as well aBl
}.:/qu..v Hines-has past We Save aver. |
¢ . the faare @Bl b aroee Ss g o
Ihe war, We bnow our ann sireng'h ]
Img‘ The future is hwigh and The e
is me tensns ‘o Yeliisve The lae ase @
(man will not share In the com P
| premperity *
l T Bave almnse beiievnd Ihat he five
et Sagitece & 8 - Fvest ndes o
".”n'a Beopingmn cont e agid Py .
Wen el §apamnse b o Khe Lidaumn s fhg,
| HEn Ay T gomeatt indiontomne
b i haatatoe boe baer TR gl b
8 Awstßag Ry n e woms SR '
? Tinilautiveg dMeg 1 iged iy e £
Barn Sham® & St aahis I SROTEWENT
(B 8 Saf Yaefasaes Sas Seas ot e e
e Thw f o . 2 Say ’k-g'ifiml
il e ol get b SN g |
l Teßl et Sesrehante .flg
EREPT RBT ad eoo e T cawe g
tray These S e @ Sevided e v
| 5 mumw st e ¥y "o ah .;.l
Wi et A omde see Beihg wesde
l‘vl‘ @ietan %o e
1 o Bideedis Lok S Berd b g e
P vede e Y Lipas Yt g
B e oS
' W 7 ‘
7 -\ \// r - X
\ S \efli' ,/,’ \RR\\\\\\\J//J/M\\ \ I ',,”l ZN :
=WA T '55 |
— ’ / é S “;&@ \\ = |
e ) K= i g
q/ii X ‘4‘\ \j‘:‘igkj\”/ '"fi“u‘ Y ; /. /;/l) l//%/ ’ .“‘\\\\3, ‘
e W = e 0 )
// uf-\'.' ‘.(7\3"/ e| N n\\\\\ \\ / //(, ////< :_...g\\
: g ‘ : // (WA Y =4
/ / ! : ‘(% o, ,/1/.7/ W 77 \
t( / 41/’///%Z/,'%" o 7 \NN »‘\\\ R N : ‘ N
% W, X [ \“ : /’” /"}/ /j’%}:i
| 103 \,/ .Y N 7 ///, =Q)
A\ » e ‘\\\m‘{(‘: Mo 7 \\ /)
e b / 6 ‘\\’\Q.\\\\\.‘ : ‘-:" / w 227 J
G PR S /A
“*"-—~—~—~—~ WIS\ W/ /==
=
The Man Who Baked a Perfect Cakel
Being a True Advertisement Worth Reading
NTER NINETEEN SIXTEEN! To the optimis
tic youngster Old Father Time extends the cordial
R handclasp of welcome, and speaks these words of
sound advice.
“Prove all things and hold fast to that which iy good.” .
But listen! Father Time continues! The youngster heeds.
“Here in the heart of the Sunny South | discovered a man
whose life work was devoted to the baking of a perfect cake.
A cake within the reach of the great masses in the matter of
cost.
“I've watched this man, F. O. Stone, turn out twenty
seven thousand cakes on the day before Christmas, and | know
that twenty-seven thousand homes were happy.
“This, then, is the story of F. O. Stone and his cakes. He
built himself a modern, sunny, airy plant and placed within it
great ovens of enormous capacity, heated by a steady, even
glow. He surrounded himself with workers to whom Clean
liness was a religion and love of their work a creed. He clothed
them in white garments, and together they banished dust and
dirt forever from within the sanctum consecrated to the mak
ing and baking of a cake. ‘
E Y
“So to you, Nineteen Sixteen, | present a pure and deli
cious and wholesome cake, made by F. O. Stone, the man who
does but one thing—and that thing well. The man who bakes
a perfect cake.”
The butter must be made in early spring, when cows are
feeding on grass, before hot weather and weeds taint or destroy
the fine flavor.
The eggs must be carefully selected and tested so as to
produce that fine flavor which has made the STONE. CAKES
famous.
The milk—expressed from the Country daily—is steri
ized-—brought to boiling. then cooled to 40 Zfimy-::.d m:;::
tain:d :dtl\ia temperature in a machine built for this purpose—
until used.
* : = ~ RBS - = $, r
g | | == ¥e ol ')'\3); k== S, - AL
l—— =\ \\\ 5 & - ‘.‘-, / ‘ g .‘\ 4‘/:,:’ ’,':'.’ ) .:,t u<\ :" \‘4, *
‘ _.;'“l‘?.‘.‘“:-\‘**'“‘:.‘: sk* . \ ' "'” ""’i s T e R o
' . — o"'-* !‘} . . - * - g /:?:’" 4\' p;::z. -
b o R G &R A | 777 [P
’ [/ - ' bttt -TN-) 3 ‘ " ’.:" A .s ' )
; bages §oi0? Vo oty A\ q\' NG ¥ - - ; I - { .
! t;f :é’/ h wwiL ) '.‘ sty W \ E ‘ ' \ % >
‘ 7LOi/ / n"é’ Tl R\ % ~/j ' = 77 :
’/3'"“ £ £ '!g". ¥g! \ \‘_\ \ i/l ‘v h§ ! "é : o
b { AN LT A ® I ;” v, « | RS e |
| o 7 , *. N . jé—’ ;
{4 B \"»‘. // 1 ] ‘4 . : ~ Sd v=o_: ‘ :
:”f A i " \ - g : ’*‘ Fe &ol
¥)/.-- o T . -~
SRR 4 s e ' '» Pt ~\‘ o o payd
, ! . = . n t.‘?‘?{' . F.
. . / o -y ‘. ""'\‘."".’:*‘ . oA
| N\ ey “" W 4,
: " x i : .’/ ‘ . 4 |
Ivs7 v N o, e \ft-“’ >,
mr;fi \ s \\\ ”;‘ A 2 - ; "
: : e e et et e ———————————————— ;
WO YEARS ago the 10-cent cake was unknown tn
the South. For five years previous to that time
= Stone had been making cakes in Cincinmati. And
those cakes had been making Stone famous. His
fame spread to Atlanta, and when he opened his
wortderful plant, ‘grocers all over the South beggged the oppok
tunity to dispose of his masterpiece.
To-day more than one thousand towns are supplied with
Stone’s Cakes. Only the best grocer in each town has the
agency. The 10-cent cake has struck the popular fancy. Then
naturally came competition. Cakes in every size and kind of
package sprung up in a night. But they were not Stone's
Cakes. And the men who made them had not spent a lifetime
in perfecting one article.
From his store of wisdom, gained through years of study,
technical training and experience in baking cake—Stone gath
ers from the harvest field that flour best adapted to making a
feathery textured, beautiful cake. Stone does not use for his
standard of selection the factor of cheapness or convenience—
but it must be best by scientific test—for the purpose it is used.
The best cook in the world could not make a better cake
than Stone gives you at 10 cents—even if she had the facilities
and the ingredients.
Stone puts his name on every Cake he bakes. He's proud
of it. He uses real butter in the making, and he tells you so in a
guarantee signed by himself. You can not buy a stale cake
from Stone. Each one is dated for your protection.
I know now why Stone writes that guarantee on very
cake he sells. | know, too, why he signs it with his own name.
I've been through his model plant at 55.57 Highland avenue,
and seen him bake a cake. So, while the above is really an
advertisement to induce you to buy Stone’s Cakes at Ten Cents,
so truly do | believe what | have written that I'm glad to sign
my name here at the bottom.
~-JACK G. CARR.
3