Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1897-11-17
THE RODDEY PLAN.

The Herald that he would make an ad-
dress to the farmers during the day, re-
porter for The ENQUIRER went over to
hear what was said and done. The meet
ing had not yet been called when the
reporter arrived, and Mr.. Roddey being
at leisure, talked interestingly about his
plans.
"They did not vote down my plan in
the convention at Columbia" he said /;
"but they did not exactly endorse it.
You see, 1 mean business rather than
politics, and the political element was
more largely represented in the conven-
ton than the business element. This is
not a political problem with which we
are dealing; but rather business prob
lem, and unless it is dealt with in busi-
ness way we can accomplish nothing.
"However, have no objection to any
thing that was done in the convention.
So far as it went it was all right. The
action of the convention looks to organi-
zation in the interest of cotton. l am
conyinced, from what I have seen and
learned in New York-from what act
ually know-that the only possible REM
edy is the organization of gigantic trust.
The meeting did not take on to this idea.
That is because of general misconcep-
ton of the true situation. But it was
decided to organize, and that is source
of satisfaction to me. So thoroughly con-
vinced am I that the trust plan is the
practicable one, I feel assured that if the
organization is completed it will drift
into my way of thinking, and eventually
it will materially assist me in carrying
out my plans.
"But don't you take up the idea for a
moment that because the convention did
not do what hoped it would, that l am
in the least discouraged. Far from it. l
have more faith than ever in the trust
idea. I believe it can be carried out.
Not only this, I believe that l can per-
feet it. I believe it so strongly that l
have determined to 60 into it with all the
means and all the energy possess. No
big undertaking has ever been carried to
success without hard work and big risk,
and no less can be reasonably expected in
the present case. But have this salts
faction. AS see it, the organization Of
this proposed trust is not nearly so big
thing as it appears to most people, or as it
once appeared to me. Taking the size of
it into consideration, believe it will
prove comparatively easy task.
Just as soon as I can-1 have lawyers
looking into the matter now-I am going
to secure charter for cotton company,
which will really be in the nature OF
trust, and open books of subscription.
What the capital stock v i'll be, 1 have not
fully decided; but the shares will be of
the par value of about $5. Then we will
proceed by securing the privilege of mar
keting certain portion of each growers
crop say one bale out of four. have
abandoned the warehouse idea. Well
Just have the producer to bind himself to
allow us the control Of one-fourth of his
crop. On our part we will guarantee him
the market price; that is that he will not
have to take less, and also leave him the
privilege of raising as much money on
that fourth bale as he can. He will keep
the cotton on his farm, of course, and all
we will ask of him is that he hold it un-
ii! we instruct him to sell it.
Now let us see how it works. AT pres
ent, supply and demand have nothing
whatever to do with the price OF cotton.
Liverpool spinners combine with profess
sional operators and sell futures until they
get the price of cotton down as low as
they want it. Then, on this basis, they
buy all the spot cotton they need. Why,
right now, I can buy the entire next
years crop of York county for less than
the farmers can produce it to save their
lives. But suppose there is a 100000
bale crop next year, and suppose the
trust had under control along the line l
have just explained, say 100000 bales.
Then suppose the spinners and mill men
should resume their old plan OF selling
futures to beat down the price. All the
trust would have to do would be to just
buy every bale that the spinners and spec
ulators dared to sell, and whenever the
trust cot ready, it would call upon the
sellers to settle. Having control of the
entire surplus, or enough of it for all prac-
ticable purposes, the trust could demand
settlement on basis of whatever figures
it might choose to name, even up to 70
cents a pound.
ut looks pretty, doesn't it?" continued
Mr.. Roddey. "Well, it is pretty. There
is not a possible chance of slip up. There
is no chance for the cotton farmer to lose
anything. 1 see no reason why any
farmer, even though he should not be
willing to take s. worth of stock, should
refuse to allow the trust the privilege OF
marketing one-fourth Of his crop, ana
not only that, there will be in the scheme,
the opportunity for those who 90 take
stock to make big dividends"
Shortly after this talk with the reporter,
some so or 20 farmers from the surround
ing country collected in Roddey's hall,
and Mr.. Roddey went over his plans 10
them again in clear-cut, earnest speech.
He covered about the same ground as
above, and was listened to with close
attention. Several members of the au-
dience showed their interest by asking
questions, and in each case the answers
were entirely satisfactory. Mr.. Roddey
repeated his announcement OF his pur-
pose to organize his proposed trust wheth-
or he got any help or not. He did not
ask for any help but from all appear
ances, there were many in the audience
who were in full sympathy with him,
and the indications are that if he begins
operations in the Rock Hill section, he
will start out under encouraging auspices.
LOCAL LACONICS.
Coming to the Show.
Manager Herndon has sold about
dozen reserved seats, for next Friday
NIGHTS minstrel show, in Glover. He