Savannah morning news. [volume] (Savannah) 1868-1887, 1886-11-02
\ Cotton Planting Combination.

Cotton Planting Combination.
There IS movement among the cotton
planters OF Arkansas, Mississippi and
Louisiana to organize a great company
TO control the products OF their planta-
tons and 10 protect them against
monopolies like the American Oil and
Trust Company. Col. Sam James, the
lessee of the Louisiana convicts, is at the
bead Of it, and be appears to have conf
dence that 1t will lie a great success. He
is himself cotton planter, and it is
probable that he proposes to utilize his
convict LABOR in the great scheme about
which he talks very freely and frankly.
He says that the planting interests at
present are in very depressed condition,
owing, principally. to the very high rates
OF interest which planters have to pay for
money with which to carry on their plant
ing operations. They are also compelled
to bear very heavy charges in marketing
their cotton and cotton seed. the scheme,
OF which Mr.. James appears TO be the
spokesman, will, if pu. into successful
operation, furnish all the money desired
at 8 rate not greater than six per ceot.,
and Will make the cost OF handling cotton,
from the time it leaves the plantation I'M
I'll it is sold com paratively insignificant.
The scheme is to form great company.
like the American Oil and Trust Com
pany. The planters will sell their plan
tations to the company and receive their
paw in the stock OF the company. They
will be mem bers of the company and each
vi MA for ho
company for salary. All the cotton and
cotton seed will belong to the company,
and the proceeds, after the payment
Of al necessary expenses, will be
paid to the stockholders as dividends
on their stock. The company having
credit will be able to borrow all the money
it wants at very low rates-from
to per cent. This money Will be loaned
to planters who want it at the same rates.
but will be used chiefly in working the
plantations in the combination.
1t is clear that this idea OF organizing
the planters grew out OF the operations of
the American OIL and Trust Company.
That company, as is now well known.
aims to control the cotton seed oil bust
ness. 1t has already secured about all
the cotton oil mills in the country,
and il proposes not only to say what the
planter shall accept for his cotton seed,
but also what the consumers of the oil
shall pay for it. In other words, by
means of huge monopoly 1t proposes to
0ppress the planters and take what it
pleases from the pockets of the consum-
ers. The proposed organization of the
plan ters is intended, in part, to defeat the
purpose of the American Oil and Trust
Company.
1t is barely possible that this movement
among the planters may succeed, but it
doesn't appear as il it would. 1t Is easy
to see how a few dozen oil mills were
forced into a combination, and how the
combination can be made successful anu
profitable, but it is difficult to see how
thousands of planters, scattered over an
immense territory and having widely diff.
ferent views respecting their rights and
the value of their services, can be brought
into a combination such as Col Sam
James proposes. The more the thing is
thought of the more does it appear like a
day dream that is destined never to be
realized.