The Montgomery advertiser., 1904-12-18
PLANS TO HOLD COTTON Suggestions For Raising Cotton Market. CONCERTED ACTION ASKED Proposed One-flfth of Crop Be
 SequeStrated. Owners Can Draw Money That is Ab- sOlutely Needed-TwO of the Plans tp Help Cotton Raisers.
CONCERTED ACTION ASKED


 missioner of Agriculture Robert R. Poole for mass meetings to be held in all the cities and towns of the cotton belt of Alabama, interest in the expe- diency of holding to the surplus crop of the staple this year has grown apace. Daily letters of qualification pour into the office of the Commission CT and when on January 10 hundreds of gavels fall in all sections of Ala bama to fling defiance at the bear spec ulators of Wall Street, significant de- morfstrations are expected.
 With nearly every alternate letter of congratulation which reaches Com missioner Poole a studied plan is pre- sented for the restoration of the price of cotton. Some of these plans are elaborate and sound practical, coming from the leading merchants and plant CTS of the State. Some are entirely impractical and are merely waste of words.
 But those plans which are most plausible will almost surely be discuss l ed at the meetings on January 10.. All the plans are based on the as- sumption that the amount of cotton now held by platners. merchants and bankers in Alabama Is 600,000 bales and in the South 6,000,000.
 | One ,of the most interesting propo- sitions that have reached the office of the Commissioner of Agriculture comes | from an officer of a leading cotton mill | concern in the eastern part of the State. This gentleman, whose name is with held, but who win certainly be heard from when a decisive universal move- ment is on foot for higher cotton l prices, advises that one-fifth of the total crop. or 1,20O,00 bales. be retired
 by the holders in the South.
 The method for retiring these 1,200,- 900 bales is to pledge the planters and merchants holding estimated crop resi- due of 5000, 900 to deliver at once one- fifth of their holdings at the county seat of each county, and receive cer- ] tificate of deposit This certificate Is | to be redeemable on October 1, 1905. | The county sites are mentioned be- cause of the average better facilities | for storing and insuring the cotton than are available in the villages.
 The author of this plan, if it could | be arranged to this stage, says he will negotiate a loan of $15 per bale for one-fifth of the unmarketed cotton in l Alabama at a reasonable rate of in- terest, plus 25 cents per bale for com | mission.
 "The s15 per bale will be applied as | follows" says the gentleman, "$10 per l bale to be furnished on the certificate | of deposit to the planter and merchants reserving s per bale for paying for | storing. insuring and commissions" | "In order for me to negotiate loan of s15 per bale on 12O, ,o0O bales, amount
 ing to $1,sOO,0o0," continued he T | would have to be furnished with ware house receipts and insurance policies to
 the value of $35 per bale.
 If 1t can be arranged to organize at
 once. under some name, and elect | Board of Directors of one man from
 each county. stating that the duty of
 the Directors Is to look after the stor- | age and insurance of one-fifth the cot | ton in his county. the balance of the
 crop could be sold for 9 1-2 or 10 cents,
 and if something of this kind Is not done, doubt if the balance of the crop
 can be sold for over or 1-2 cents | T think each cotton State can easily make the same arrangement as l have | suggested. Of course, everyone draw
 ing $10 per bale on their cotton would
 have to refund $15 and interest before the cotton could be delivered to them" l The originator of this plan adds that
 if the European and Eastern spinners
 can know for a certainty that there are | only II ,00o, 900 bales of cotton that can
 be bought of the 1904 crop, they will l at once enter the market and buy their
 needs at anything under 10 cents. Once the cotton growers are orSanE-
 ed according to these suggestions. the
 cotton mill man referred to states the
 necessity for each county to build it's
 own warehouses to be used every year.
 These warehouses should be equipped
 with sprinklers to secure reasonable | insurance rates.
 Another plan which is quasi-legisla-
 tive comes from cotton grower of
 known ability. He suggests for per | manent method that the Southern Cot
 ton Growers Association" be well
 organized and capitalize at $104OOO,-
 900. Issue 10,00o.o0O shares of stock at $1O each. sell them at par to the cot
 ton growers to be paid october 1. 1905
 ir the staple at 10 cents per pound,
 middling basis. The cotton Is to be
 delivered to ginners designated as | agents.
 Assuming that all the shares will l be sold" continues the author of this idea. the Association will have at the beginning of the season 100000 bales 1 of cotton as a basis of credit l "Che Association should make the | necessary storage facilities and bank ing arrangement and buy all the cot l ton of shareholders at a price fixed by | the Association. Sell direct to the | spinners at a profit of half-a-cent per | roupd plus carrying charRes The As