The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-08-28
Tobacco
Continued from First Page.l

| ehIIIt the HolOeF 10 the property so
| stored, or to that part remaining after
the payment Of all advances and
| charges; such tobacco may be redeemed
and recovered upon presentation Of the
receipts and the payment of the amount
| advanced, together with all Incidental
commissions n charges. Payments
for tobacco purchased or advances on
/ tobacco stored may be made in each,
prcInissory 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 fertlllzers, p~hoSphateS, cotton seed
meal and foOd supplies; to engage in
ne general merchandise business eth
/ er by wholesale or retail. To buy, w
lease sell, improve, rent or otherwise
acquire or dispose OF such real estate
as may be considered convenient, neces-
sary or desirable; and to do any and
everything not prohibited by the laws
OF the State of North Carolina
Now in considering the plan due
regard must be a to the personnel
OF the committee recommending it.
This committee was composed of men
e!cry one Of whom had been eminently
successful in managing affairs. This
of itself entities a plan recommended
| ~ lAACLI ~ CdLClul anu TtSpcCllul COIl-
siceration.
And when one comes to consider the
/ pan on its own merits it Will be found
simple and practical. More han this;
1t is applicable to every possible phase
] of the situation. The amount of the
| capital stock of the various companies
is not limited. Each company may be
formed with such amount of capital as
shall seem necessary to the exigencies
| of the market on which it proposes TO
deal. This was one of the details.
which in the nature of things, a mass
meeting can not handle, and so very
wisely it was left to be settled as re-
CURED by the needs of each particular
case.
In like manner the matter of the
| kind of business to be- carried on by
each company was left to the decision
Of such company. A company may car
~ on any or all of the lines of business
mentioned in the resolution. Whether
1t sha engage in one, two or all of he
kinds of business pointed out is a mat
ter for the decision of the governing
cody of each separate corporation.
This reference of details TO the sep
arate companies given the whole plan
an elasticity which is of great value.
- companies II OoN44 11lOtpcI1ltlll
but at the same time they. all working
together to one common end. can upon
II emergency be rapidly merged by
their own action. Thus the plan Of
these gentlemen who denied the forma-
ton of one great central can
b. realized in the plan adopted by the
| association.
1t is a great mistake to believe tina
the American Tobacco Company has all
the money in the world, or nat it has
absolute control of all the markets of
the world. A very large proportion Of
the stock of the American Tobacco
Company is water. But in order to keep
W its stock it nus earn dividends on
this Watered stock just as II it repre-
Sented real Value In the companies
proposed to be formed under the reso-
IutiOns of the Farmers association
every dollar of stock will represent a
dollar of actual value. HI advantage
Will, in itself, give the farmers COM
Fanies the key TO the position. As to
TIL control of the markets BY the
American Tobacco Company the fact
that the company is spending a million
OF dollars a year in advertising shows
that il realizes that its control is a
mere assertion and by no means a fact.
That the corporations raised under
The plan adopted by the Farmers asso-
citation will be successful there can De
10 doubt. They have at this juncture
every advantage possibly to be con-
Ceiyed. The action of the American
Tobacco Company in closing the minor
factories has thrown many skilled to-
bacco men out of employment. The
Sci ices of these men can now be had
at salaries much smaller than they
--rr-rl 49,
since. Then, too, the farmer who takes
stock in one of these companies is
dOUbly fortified. If the price of his
produce does not range high enough to
make his planting profitable he, as
manufacturer becomes his own custom
g" n by the profit of manufacturing
balances the account. Then if the price
OF the raw material is high enough to
Make manufacturing Improbable, he
lets the other fellow do the m~anufac-
turing and contents himself with the
profit on the raw product. 1t. comes
nsare putting the farmer in position to
eat his cake and have his cake than
anything ever Yet devised.
But unless the plan is carried out
the fact that it has been recommended
and adopted will avail nothing. And
these companies will not organize them
selves some man or men on each OF
the tobacco markets must undertake
the work OF organization. Blanks en-
bodying the plans of the association
have been prepared and I will take
pleasure in sending such blanks to any
Who will apply for them"
CAPITAL GOSSIP.
The state charters the Burgaw manu-
featuring Company. of Burgaw. capt.
tai 500. 600. j. A. Rowe and others
stockholders; TO make lumber, crates,
baskets, buggies. etc. A charter is also
granted the Dunn Safe and Table Com
pany, capital SO, 900. H. V. Moulton
and others stockholders, 10 make kitch-
n safes. tables and other furniture.
\ painting. the only one in existence,
OF the famous blOckade-runner "Ad-
vance" was received today as a gift te
the Hall of History from Mrs. Elenor
Carr, OF Edgecombe county.