The morning news., 1894-11-22
COTTON GROWERS COMBINE.
A Meeting Held at Atlanta 10 Discuss
ROddey'S Plan.
a Committee Appointed to Call County
and State Conventions to Elect Dele
gates to a General Convention-Rod-
dey Expects His Plan to Increase the
Price of Cotton 25 Per Cent.

EL1G6 OF OOLLOn 20 Fer cent.
Atlanta, Ga, Nov. 2l-An important
mteeng of cotton growers representing
several states occurred in Atlanta to-day.
They were called here to consider a plan
recently suggested by j. r. Roddey, a
cotton broker of New York, for con-
trolling the price of cotton.
The meeting was presided over by Hec-
tor d. Lane, commissioner of agriculture
of Alabama.
After some discussion, the plan as
announced by Mr.. Roddey was, on motion,
| recommended, Chairman Lane and one
or two Others dissenting.
A committee was appointed, consisting
of j. 7. Roddey, H. 5. Lipscomb of South
Carolina and J. E. Nunnally of Georgia,
to call county and state conventions for
| the election Of delegates to an Interstate
! convention to be held at a time and place
agreed upon by the committee.
Mr.. Roddeys plan, as explained by him,
is to form a combination of the cotton
/ growers, with a capital of S50OOO00O or
/ 500 1000. Each cotton producer is to con-
tribute one bale out of every five made to
the trust. Estimating the crop at 5000 900
bales, this plan would stock the trust with
100000 bales, the withdrawal of which
from the market, it is urged, will appre-
| ctate the price p per cent.
One general Office is proposed, with
/ branch offices and warehouses at all cot
/ ton receiving points.
The gins in every county are to be listed
/ and if possible. controlled, 50 as to know
/ the exact production and to regulate the
/ supply Of cotton
In regard to the management of the
/ company, it is to have une general o. head
/ office, say in New York or New Orleans
with two general directors from each cot
/ ton growing state; have one office in each
/ state, with one director from each county
/ in that state and have sub-OffiCes in all
/ the principal cities and towns in the diff
| ferent states to control the local cotton,
all to be controlled by the general or head
| office have either a special insurance
/ company organized or the present com
/ panies brought to a low rate; let company
/ warehouse receipts be issued with insur-
ance policies and if the farmer needs
| money, let the company advance him five
eighths or two-thirds of the value Of his
/ warehouse receipts.
Montgomery Ala, Nov. 2.-Commis-
sioner Lane of Alabama has issued his
address to the cotton growers of the
| south, which was authorized by the late
| meeting Cf cotton growers held in Mont
/ gomery. He says: "This convention was
called by myself for the purpose of con-
/ sidering and devising means through
which southern cotton growers might pro-
! tect themselves from the many unfair
devices used to depress the value of our
chief ctaple The most prominent one
/ being the reports fabricated in the main
/ cotton markets, sent out by cotton ex-
| changes and emanating from the minds
| of men who make a precarious living as
| bears on the cotton market"
He then quotes largely from printed
estimates sent out by interested parties
1 as to the size of the present crop and
/ Shows by figures that it viii not amount
| to anything like what is claimed. He shows
| by the following statement the benefits
to be derived from the producers COM
| ing together and acting in harmony. Con-
sequent upon the enormous crop produced
in the season of 1912, a cotton conven-
ton was held in Memphis, under the
auspices of the Mississippi Valley Cotton
Growers Association, and its results, as
was the result of the recent convention
at Montgomery, We're emlnently satisfac-
tory to all engaged in it. The express
purpose of this meeting vas to take ac
ton toward the reduction of the cotton
! acreage How well it succeeded in it's
efforts the history Of the cotton crops will
show. A decrease in acreage followed the
ensuing seasons of 1892 and 1893 of 1856,
439 acres, an acreage that is larger than
is planted in any one state with the ex-
ception of Texas.
vention, cotton advanced II points in three
days. Pursuant to the Montgomery meet
ing cotton values advanced 27 points.
Whether these two occurrences were CO.
incidental or whether they were caused
directly or indirectly by these farmers in
convention assembled is for the country
to judge, but to my mind it is a practical
demonstration of fact that the yibra-
tions of the cotton market are as sensa-
tive and responsive to the touch of a con-
vention of practical farmers as they are
to the manirulations of metropolitan
fakrs.
THE dominating questions confronting
the farmers, first is to refute the iniqui-
tous reports being sent out by unscrupu-
lous persons and bearing down of present
prices, and secondly to cooperate IN an
endeavor to again decrease the acreage
by planting the same in, and producing
more home consumption" crops.
over production encourages and fosters
manipulation and II would be the effort
of every intelligent and patriotic citizen
Of the south to enlist all the instrumental
ities available to resist this current that is
insidiously day by day, drifting US into the
vortex of poverty and destitution, and
respectfully solicit the help of the press
and the kind cooperation of all those in
terested in the material welfare Of the
south for their assistance in the accom-
plishment Of this 'consummaton so de-
youtly to be wished
THAT the present low prices of cotton
are abnormal is plain to all thinking men,
and certainly so if the wen accepted rule
Of political economists apply-'the cost Of
the production of an article is a fair stand
ard of its value.
There i8 less visible supply on hand
than for years. Mills have less on hand
people have less clothes on account Of the
enforced economy OF hard times The
total visible supply OF cotton in the world
is 222.20I bales less than in 1893 and G05.4l
bales less than IN 1882. The currency and
tariff questions are virtually settled, and
an the indications at present point to a
speedy return Of general prosperity and
cotton prices must naturally rule higher
I'VE are Of the opinion that after all
this matter can only be accomplished
by independent individual action. stimu-
lated by intelligent argument, and / shall
undertake 20 prove that 10 great extent
lt De- the over production Of cotton Ga exc
cess Of its consumption that is causing
the falling or in values unIl u has
reached that point which makes % lees
than % con possibly be produced for by
the southern planters
Ifa concluded his address by saying.
"The convention at Montgomery adj