The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-01-14
TO POOL THE COTTON CROPS

Mr.. Logie's Plan to Establish Co operation
for Handling and Selling the Cotton
Crop-AH Cotton Growers to Form an As.
ISOLATION and Market the Crop Through
Their Own Banks
Charlotte, y. c., January s.-Mr. 4.
Y. Logic, formerly of Bridgeport, Conn,
noV engaged in extensive farming op-
eratfsps in this state. addressed a large
gathering Of farmers and cotton grow
here today.
MIR. Logic advanced an argument for
anAorganization\o of all cotton farmers
commoR good, pooling the entire pro-
duct and pro-rating by\usual dividend
methods the earnings of xhe associa-
ton. The Arrangement provides for
organization by first nominatinga con-
gress Of representative cotton farmers
who shall, after due de~Iiberation and
consideration, formulate a constitution
and bylaws for the establishing Of an
agency to consist Of a central board OF
control to be made up of a commission
from each state with president and vice
pr edCA Sldlt 10 DeAd ClIdplSI
of the whole, and, under theAmanage-
ment Of a supervisor, be dfStricted,
with points of receipt and distribution,
warehouses, etc.
All the states are to Tbe under one
form of business management for buy
ing, selling, grading, marking, weigh
ing, accounting, etc, and all to be un-
der the direction Of the central board
Of control. A system of Independent
n 80 ~ he II nda cnnniol r a
charter should be authorized to issue
scrip or promisory notes based on the
amount of cotton hypothetical for ad-
VanceS, the association to issue ware
house receipts to the farmer for, say,
four fifths of the selling price, deter
| mined by the central board, which shall
alone have authority to fix the annual
selling price and which shall be strict
ly maintained throughout the year-thc
ban to cash the farmers warehouse
| receipt and the cotton bills when sold
by the association shall specify that the
remittance shall be made to the bank
which shall reimburse itself for the ad-
vances. and the commissions agreed
upOn and hold the balance due to the
| association as it's trustee-said balances
| shall constitute a contingent or re-
| serve FUND for the operating expenses
of the association and at the end Of the
year after all obligations are discharged
due by the association, then any bal
ances on hand in banks shall be de-
clared an earning and pro-rated to all
the farmers according to the amount
of cotton sold by each.
| All the cotton shall be bought at the
| advance price to the farmer of, say,
| 8 cents and sold at, say, 10 cent to pro-
! vide a fund sufficient to w all oper-
ating expenses and allow for the de-
| structiOn of any unnecessary surplus
remaining after all buying a n are
| supplied. the handling of the crop to
be guaranteed to the auxiliary banks
I, and an annual accounting to be made
by the central board of the years trans
actions.
| Only farmers Shall be eligible as
| stock holders of the banks and all
| clerks and officers of the association to
be selected from among the ranks of
| the farmers a. far as possible.
The argument claims that the organ
| ization will be distinctively one of
| white men, as the land owners can
| make contracts with all irresponsible
tenants and troopers, compelling them
to sell and deliver the crop to the asso-
| citation as a crop condition.
The speaker dwelt upon the ~ineffec-
| t~iveness of partial measures, insisting
that the means should be equal to the
end to be gained and he appealed TO
the self interest and patriotism
Of his constituents to start a
| movement of the farmers for the
farmers and by the farmers. He
| characterized the cotton exchange as
a national curse. He deplored the con-
| ditions caused by outside capital con-
troll and painted a glowing picture of
the south's rehabilitation as it would
be with a profitable price for cotton.
He confessed that as the evil of the
present system had taken such a firm
hold; as the undertaking was so enOr-
NOUS and the discouragements 50 for
midable, that little short of divine in
SEPARATION would kindle the hope of a
successful commencement of a farmers
crusade against the ills that now beset
them. 1t is truly a gigantic undertake
ing and may stagger the stoutest and
bravest, but as something should be
done to relieve the present situation
and make it possible for the farmer to
get a fair return for his labor we de-
voutly hope thai God will speed the the
of his deliverance.