The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-03
ANOTHER TRUST TO ROB FARM
Frs

Our attention has been called TO a new
projected trust that will injure the farmer
by an intelligent and prosperous president
of successful cotton mill. Il enclose, he
writes in a private letter "a clipping from
the New York Journal, which explains
itself. Should these parties carry out
their intentions, will ii not result IN abso-
lntely destroying all cotton commission
houses like johnson and Thompson, Bar
bee. Lee. Latta and Wright and others!
Also in controlling the price of cotton both
so far as to what the farmer will be
paid for his cotton and at what price the
cotton is to be sold to the manufacturer.
You will observe that they propose to
b,ly the cotton themselves and will not
gin and pack on shares, with the farmer.
Neither will they sell their machinery to
any one, but propose to use it exclusively
themselves, like the Bell Telephone, the
Bonsack Cigarette Machine, etc. With
Searles at the head of this concern there
is much to be feared from it all over the
South"
The clipping from the Journal, referred
to in the private note is as follows:
"A continental cotton trust only wants
a name. 1t has been formed officially
and substantially in New Jersey, where
trust laws allow freer scope to the mem
hers. and where the American Tobacco
company has its strongest basis. Inns
cotton trust, like its tobacco brother, will
in all probability be called 'The American
Cotton Company
..The trust dates from March, 1896,
with capital stock of S6,0OO,OOO. One
half of this is preferred" and though
no listing has occurred ON the New York
Stock Exchange, it is well understood
that not a single share has gone at a rate
below par. The head shoulders and
sinew of the trust is John h. Searles, OF
the American Sugar Refining Company.
He is the president, and this fact has m
duced outsiders to say that there Is no
mere child's play in the organization.
Then Mr.. Searles is seconded by Senator
Jones. of Arkansas; Jerome Hill, ID. Z.
Ball. Stuyvesant Fish, president of the
Illinois Central Railroad Company; Hon.
ID. r. Francis, former Secretary of the
Interior: B. p. Mcdonald, director of
the Missouri, Kansas and Texas Rail-
road, and Bart Moore, of Waco, Tex.
1.-THE new combination is in possession
of the patent rights of the latest cylindrl-
cal bale, and this promises not only to
reyolutionize the handling of cotton, but
SO to depreciate the foreign methods OF
hacking as to place the American produc-
fion at the top notch. D. G. Ball, Of the
present American Cotton Company,
speaks this way of the new bale:
1T does away with the jute bagging
and ties. The new covering weighs three
and one-half pounds, which constitutes all
the 'tare" 1t is a protection against
waste. pilfering, water and damage OF
all sorts and is worth to the mills for re-
wrapping almost the cost per pound. Inc
round bale is practically fireproof, as 1T
does not contain enough oxygen to sup
port combustion. In consequence 1T eHects
a great saving in insurance, cut OF %
per cent having been generally allowed
the new bale. and since the recent sue
cessful fire tests it is expected that 1t VIII
take preferred merchandise rates. 1t mas
40 loose or exposed cotton, thus causing
almost perfect security. 1t Us the most
easily handled of any cotton ever put up.
1t occupies, comparatively, only 10 per
cent of the warehouse space of the square
bale. The clearly stamped weight on each
sbale is guaranteed and maintained, as the
through airing and drying before ginning
prevents the losing of weight in stock. Ii
easily loads one hundred bales to the or
binary car. From one hundred and fifty
TO one hundred and sixty bales can DE
1oaed in a car. The cotton unrolls from
the bale like a carpet, and with "a simple
apparatus a minimum of labor only Is
necessary to feed the cotton from the
bales directly to the machine"
Mr.. Ball also stated that the seed cot
ton is taken directly from the producer
II is then cleaned and ginned, after
which the bat is pressed into compact
cylinder form. ;,
sIt is almost solely upon the new Doll
ing machinery that the Trust intends U
show its superiority over the Independent
dealer. Instead of selling the apparatus