Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-08-28
THAT COTTON TRUST.
"SOUTHERNER" FAVORS THE
PROPOSED COMBINE.
The Scheme to Corner Cotton by Southern
Farmers, He Thinks, Good
One-The Proposition.

COLUMBIA, S. c., Aug. 2l.-An important
scheme the object of which is to save the
present crop OF cotton from being saCri-
feed, has been formulated in this city. and
will at once be pushed throughout this and
all other cotton-grOwing states. +. NJ.
StoeGer, a prominent farmer near Colum-
bia, is the author of the plan, which has al
ready received the sanction of leading Al
lance officers, and a special meeting of the
Richard county Alliance has Oeen 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 TO the
capital one-third of the cotton crop made by
each cotton raiser in the county. Ii is
proposed TO bind these trust companies SO
firmly that the cotton placed i'll their trust
can be considered the same as if not in
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 it is calculated to hold the cotton
supply for this year down TO about six mil
lion i've hundred thousand bales. and con-
sequently bring the price up to about Zoe
per pound, as received with Il similar sup
ply Of cotton in former years.
Il is calculated that under the present
price VI tObtOu d W IlDSc crop - Nlllt
bales of 500 pounds each at cents pound
would receive only $40, 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third of the cotton is withdrawn from the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
10 start next years crop with three bales on
hand.
The first trust company will be organized
in this city al once. After the plan shall
have been formally Endorsed by the ALI
alice (and that it will be is foregone con-
cluSion) the necessary steps will be taken
to extend the organization throughout the
whole Gotten belt.
CHICAGO ILL, Aug. 81, 1891
Editor Gazette
DEAR SIR-The above clipping, which
you have no doubt seen, explains itself. [
was for many years a cotton planter and
no man knows better than | how much
labor it takes to plant, cultivate and market
i cotton crop. Chicago is my present home,
but nay sympathies and 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 it will
result in a direct gain of many million dol
lars 10 the cotton interests of the South.
In 1915 and 1876 the total cotton crop was
only !. 6:t2 3i3 bales: there was realized from
this crop 500, 0O0, 600; the crop Of 1889 and
1890 reached 1,3o1,2Sl bales and only real
lied about $50, 900, COO; the lowest estimate
puts this years crop at 100000 bales.
Aliddling cotton is worth to-day in
New York 15-l6c, this means
that the planter will realize from 81 to 81
cents fer the bulk of his crop, which is less
than $50 for a 450-pound bale. On this
basis this big 5000 C00-bale crop will bring
only s240, 600 900, or $l60,0 600 less than
the crop OF 1873 and 1876. The actual con-
sumption of cotton now reaches between
eleven and twelve million bales annually.
If the Southern states will only furnish
100000 bales this year instead of 5000, 600,
ii will result in the producer realizing 10
cents per pound, or $50 per bale, or over
Sl0D. 900, 900 in excess of what is likely TO be
realized il the total crop be placed
on the market. 1t is generally con-
coded 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. Docs
not this condition of affairs show that the
time has arrived for action
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 a@itate the plan
proposed. | know that over 50 per cent. of
The crop IS under mortgage, but that should
not act as a draw back: the merchants and
landlords will be most willing to cooperate.
If the farmers of each county viii assem-
bic in mass-meeting and form trust COM
panies as proposed, and store with said
companies one-tifth, 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 sperity and happiness
will rule over the South instead of ruin and
disaster
Hoping you will give this matter the pub
licity it deseyves and that it will be copied
by your exchanges until those most vitality
interested ts5ke such steps as will esultfn
the successful the plan, asn yoptssfrylrs,
N ser5a5 ssEF