Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-09-03
THAT COTTON TRUST.
"SOUTHERNER" FAVORS THE
PROPOSED COMBINE.
The Sche:fie to Corner Cotton by Southern
Farmers, lie TSni<s, "A Good
One-The Proposition.

CoLUNRIA. 6. c., Aug. 21-An important
scheme, the object of which IS to save the
present crop of cotton from being saS i
feed. has been formulated in this city. and
will at once be pushed throughout this aud
all other coCOu-grOwing states. +. NJ.
StoeGer, a prominent farmer near Column
hid. Is the author OF the plan, which has al
ready received the sanction of leJ-Iu" Al
lance officers. and a Specia! meeting Of the
Richard county Alliance has been called for
Saturday TO take steps to put the scheme
into active operation.
1t is proposed that trust companies with
a capital of $4,000 or $4,000 each be
formed in each county in the entire cotton
belt, and receive as subscription 10 the
capital oue-third Of the cotton crop made BY
each cotton raiser III the county. 1t Is
proposed 10 bind these trust companies so
firmly that the cotton placed i'll their trust
can be considered the same as If not IL
existence or destroyed for the next twelve
months. At the expiration of that period
the companies arc to dissolve and return
the cotton held in trust to the owners. BY
this means il IS calculated to hold the cotton
supply for this year down to about six mil
lion five hundred thousand bales, aud con-
Sequently bring the price up to about Zoe
per pound, lis received with similar sup
ply of cotton in former years.
L Is calculated that under the present
price OF cotton farmer whose crop Is nine
bales of 800 pounds each at cents pound
would receive only S27O, whereas. if
throughout the whole cotton belt about one
third OF the cotton is Withdrawn from the
market for one year, his six bales at 10
cents would bring him 500 and leave him
to start next years crop with three bales on
hand
The first trust company will be organized
in this city at once. after the plan shall
have been formally indorsed by the ALI
ance land that it viii be is forcgone con-
clusion) the necessary steps will be taken
to extend the organization throughout the
whole Gotten belt.
CHICAGO, ILL, Aug. %, 1921.
Editor Gazette.
DEAR SIR-1'he above clipping, which
you have no doubt seen. explains itself |
was for many years cotton planter, and
no man knows better than / how much
labor 1t takes TO plant, cultivate and market
4 cotton crop. Chicago IS my present home,
but my sympathics dud best wishes are and
ever will be with the Southern planter.
There is no question but what the plan
suggested by Mr.. Stoeber is both practical
and feasible; if put into successful opera
ton there is no question but what ii will
result in u direct gain of many million dol
lars to the cotton interests of the South.
In 1873 and 1876 the total cotton crop was
only 4 ,632. 3l3 bales; there was realized from
this crop S4OO,OU0.0C0; the crop Of lN>9 and
1890 reached 1901, PSI bales and only real
lied about $50, 600, GOO; the lowest estimate
puts this years crop at s,OJO,OO0 bales.
Middling cotton is worth to-day in
New York 15-lGc, this means
that the planter viii realize from 81 to 81
cents for the bulk Of his crop, which is less
than so for a 4j0-pOund bale. On this
basis this big :, 900 0U0-bale crop viii bring
only $40, 100000, or $lGO,OOUU0J less than
the crop OF 1919 and 1876. The actual con-
sumption of cotton now reaches between
eleven and twelve million bales annually.
If the Southern states viii only furnish
100000 bales this year instead OF o.0OJ,0O0,
il viii result in the producer realizing 10
cents per pound, or $50 per bale, or over
S10O 900, GOO in excess of what is likely to be
realized if the total crop be placed
on the market. 1t is generally con-
ceded by the best posted operators on
the cotton exchanges of the country that If
the present monster crop be marketed as
freely this season as in the past that present
prices of cotton will decline at least one cent
per pound during the next sixty day. Does
not this condition of affairs show that the
time has arrived for action2
Mir. Editor, desperate cases require heroic
remedies; if you would save your people
from bankruptcy and ruin stir them up on
this subject; get them enthused; have the
interior papers publish and agitate the plan
proposed. l know that over 30 per cent Of
the crop is under mortgage, but that should
not act as drawback: the merchants and
landlords will be most willing TO cooperate.
If the farmers of each county will assem-
bic IN maSs-meeting and form trust COM
panies as proposed, and store with said
companies one-1ifth, or even one-sixth. of
this years crop to hold twelve months,
then TO be restored to original owners; then
if the cotton acreage be reduced one
eighth next seson, the danger will have
been averted and prosperity and happiness
will rule over the South instead of ruin and
disaster.
Hoping you will give this matter the pub
Lefty it deserves and that it will be copied
by your exchanges until those most vitality
interested take such steps as will result in
the success of the plan, 1 am yours truly,
SoUTHERNER.