The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-08-21
ACTION THE WORD
At ROCKY MOUNT
Great Meeting of Tobacco
\ Growers There Today.
PRACTICAL PLANS NOW
Col. ]. Bryan Grimes Says That Home Corpor-
atons are Needed and Will Start
the Formation of These
at Once.

at Once.
1t is to be a great meeting that con-
venes today at Rocky Mount, where the
Tobacco Growers Convention is to meet.
The widespread disaster that is threat
ened to the tobacco interests, and the fact
that a solution for the present condition
of affairs is to be sought means that men
from all sections will gather to deliberate.
Already there are in Rocky Mount men
who are studying the conditions with the
view of presenting to the meeting today
some plan of action that will give promise
of an increase in the price being paid for
tobacco.
Col John S. Cunningham, of Person, the
president of the North CAROLINA Farmers
Protective Association, passed through the
city yesterday on his way to Rocky Mount
Mr.. T. B. Parker, secretary of the Farm
ers' Alliance left yesterday afternoon, as
did Mr. j. w. Denmark. This morning
Col ]. Bryan Grimes, the Secretary Of
State, and Mr.. j. E. Pogue, secretary and
treasurer of the North Carolina AgncGl-
tural Society go to Rocky Mount, as well
as many others
In addition to these already mentioned,
some of whom will speak at the meeting
there will also be present: Mr.. e. J..
Daughtridge, of Edgecombe; Gen. w. r.
Cox, of Edgecombe; Mr.. j. o. w. Gravely,
of Rocky Mount, and Mr.. 0. l.. Joyner,
of Greenville.
1t is expected that over five hundred
people from the section adjoining Rocky
Mount will be present, with many Others
from other sections of the State. In all
sections there is great interest in the
meeting.
The convention will be called to order
at II O'Clock and business commenced at
once. Every question not directly con-
nected with the purposes for which the
convention is called will be avoided, and
business is to be the rule of the meeting.
COL. GRIMES PLAN.
In an interview held last night with
Col. ]. Bryan Grimes, a tobacco farmer
himself, he said
The time for action is at hand and the
only way to meet the situation is in
practical, business like way. Corporations
should be organized in all the tobacco
towns to buy in the tobacco while it is
co could be dried and put away until to-
bacco advances, as it surely will next
spring, for facing the enormously low
prices, the farmers are not going to make
large planting next year
"If this tobacco should be left on the
hands cf the corporations, they could con-
vert it into the manufactured product at
a handsome profit, as there can be no ques-
ton 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 stor-
age warehouses for keeping tobacco and
many farmers would take stock in this
business by putting in tobacco as capital
| instead of cash."
"Those farmers who may wish to sell
| outright could take part cash in payment
and the balance in promissory note from
the corporation, which they could use in
relieving themselves and the merchants
of their pressing obligations. These far
mers who wish to hold their tobacco could
have it dried, graded and priced and Sc
cuer advances on it; and redeem their to-
bacco later upon the presentation of ware
house receipts and the repayment Of the
amounts advanced together with com
missions and charges
at would not be the purpose of the
corporations to interfere with the ware
houses in any way, as the buyers for the
corporations would go upon the warehouse
| floors the same as the other buyers"
"In conformity with this idea, Col
Grimes has prepared blank certificates of
incorporation which will be distributed at
Rocky Mount today. These have for
their object the establishing OF corpora
tions in every tobacco section which will
enable the people at home to control the
tobacco situation. The price OF shares in
these corporations will be five dollars
each. putting a 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 is set forth in the cer-
| tificate as follows:
"The object for which this corporation
is formed is to buy, sell. handle and IN
any manner deal in and with leaf and
manufactured tobacco; to manufacture to-
bacco into plug. twist, cigars, cigarettes,
cheroots. smoking tobacco and any and all
other forms. To own, lease. erect, main
tain and operate warehouses for the handl-
ing 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 carving on a general tobacco business.
To onw 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 transferable and shall en-
| title the holder to the property so stored,
or to thn4 ,nrt remaining after the pay