The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-08-27
FARMERS MEETING.
Organization to Fight the To-
bacC0 Trust.


dcy-Two to Three Thousand Per-
sons Present-Determined Action
Taken to Relieve the Situation
Resolutions Adopted, &c.
According to announcements meet
ing of tobacco planters of the bright |
belt was held in Rocky Mount last |
Friday. Nearly three thousand per-
sons were present representing most
of the tobacco growing counties OF
North Carolina. Col. John S. Gun
ningham presided. There were many
speakers, all of them enthusiastic
and determined, denouncing the to-
bacco trust and it's methods and
agreeing that the time had arrived
when the farmers should adopt
measures of self-defense. Several
plans were submitted or suggested,
that prepared by Secretary of State
j. Bryan Grimes being finally adopt
ed as the most feasible and effective,
however. This plan provides for the
organizati of local tobacco cor
porations at all the tobacco markets,
as set forth in the following resola-
lions:
THE RESOLUTIONS ADOPTED. T..
WHEREAS, The low price of leaf to-
bacco is ruinous to the interests Of a
very large number of the farmers OF
North Carolina, and, whereas the
interest of ali our people are identi-
cal;
Now be it resolved by the Farmers
Protective Association of North
Carolina:
FIRST.-That we protest against
the action OF the American Tobacco
Company in putting the price of leaf
tobacco below the cost of production.
SECOND.-That we urge all classes
of our citizens to lend their aid to
our oppressed brethren at this time.
THIRD.-That we urge our farmers
to hold their tobacco as long as pos
sibie and to organize at once for
their own protection.
FOURTH.-That we solicit the aid
OF our merchants, warehOusemen and
capitalists in carrying out the plans
adopted by this body to afford relief
to our people. ..
FIFTH-Thatw we tender our heart
felt thanks to the various mercantile
| associations and other bodies that
have expressed sympathy with us
| and rendered their assistance.
SINTH.-That local stock cOmpa-
| MES be formed to buy, store and
manufacture tobacco while it is below
the cost of production, these corpo-
rations to be established in every
tobacco section which will enable the
people at home to control the to-
! bacco situation. The price OF shares
in these corporations will be five dol
lars each, putting Il share within the
reach of even the smallest tobacco
grower
The amount of the capital stock of
each separate corporation is to be
such as the stockholders desire, and
the purposes of the corporations are
set forth in the certificates as follows:
''The object for which this corpo-
ration is formed is to buy, sell, handle
and in any manner deal in and with
| leaf and manufactured tobacco; to
manufacture tobacco into plug, twist,
|
tobacco and any and all other forms.
| 10 own, lease, erect, maintain and
operate warehouses for the handling
and sale of leaf tobacco upon COM
mission or otherwise, and also prize
houses, stemmeries, and any and all
other houses or factories incident or
necessary in carrying on a general
| tobacco business To own, lease
erect, maintain and operate storage
warehouses and to issue receipts for
| tobacco stored and to advance
money Or other credits upon such
tobacco, which receipts shall be trans
ferable and shall entitle the holder to
the property SO stored, or to that
part remaining after the payment of
all advances and charges; such to-
| baccO may be redeemed and removed
upon presentation Of the receipts and
| the payment OF the amounts ad-
vanced, together with all incidental
commission and charges. Payments
on tobacco stored may be made in
cash, prOmissOry notes redeemable
at a fixed time, stocks or bonds Of
the corporation, or otherwise. To
manufacture, buy, sell and otherwise
deal in any and all kinds of fertilizers,
phOsphates, cotton seed meal and
farm supplies. to engage in the gen
eral merchandise business either by
wholesale or retail. To buy, own,
lease, SELL improve, rent or otherwise
acquire or dispose of such real estate
as may be considered convenient,
necessary or desirable; and to do any
and everything not prohibited by
the laws of the State of North Caro-
lima.
"The corporation shall also have
power to conduct it's business in all
its branches, have one or more offices,
and unlimitedly to hold, purchase,
mortgage and convey real and per-
sonal property in any State, Terri
tory or Colony of the United States
and in any foreign country or place.
'No stakeholder of this corpora
ton shall be individually or person
ally liable for the debts, contracts,
torts or obligations OF this corpora
ton beyond the amount subscribed
by him.
| If this tobacco should be left on the
hands OF the corporations they could
convert it into the manufactured
product at a handsome profit, as
there can be no question as to the
profits in such a business when the
raw material is bought so far below
the cost OF production.
These corporations could establish
storage warehouses for keeping to-
bacco and many farmers would take
stock in the business by putting in
tobacco as capital instead of cash.
Those farmers who may wish to sell
outright could take part cash in pay
ment and the balance in a promissory
note from the corporation, which
they could use in relieving themselves
and the merchants OF their pressing