The St. Louis Republic., 1904-09-26
Judge Williams VIII Explain His
Warehouse Plan To the
ASSOCIATION.
PLANTERS TO REGULATE PRICE
Several Hundred Delegates Ex
pected 10 Meet at the Worlds
Fair Agriculture Build
inc To-Day.

At the meeting Of the Southern Cotton
| Growers Association. in the Agriculture
building. Worlds Fair. to-day. the chief
speakers will be Judge Eugene Williams
OF Waco. Tex: Colonel Samuel F. r.
Morse Of New York. and Richard H 81
monds. editor of the Manufacturers Re-
ord. Baltimore.
Judge Williams. who represents IN.
Waco Business Mems League. will address
the cotton growers on the subject of
bonded warehouses. advocating "A plan
suggested by the business mon Of Waco;
Colonel Morse Will discuss methods for
handling cotton more economically. while
the subject OF AIr. Edrlonds's address will
be. The General Needs OF the Cotton In
dustry''
Judge Williams Will explain his ware
house plan in detail and Will ask the as
sociation to indorss the proposed corpora
tion. Speaking OF his plans at the Inside
Inn last evening. Judge Williams saiJ.
The time has come for the planter 10
market his own crop. and this can be
done only by the establishment Of a sys-
ten Of cotton warehouses Throughout the
cotton belt. Cotton Is the most valua ole
product IN the United states it, valUe
last season being about Ss.tpg,'o. but the
planter does not get his Just proportion
OF this enormous wealth while q lot OF
men. some Of them who probably never
saw a bale OF cotton. have made immense
fortunes Out of the staple What We want
is to keep the cotton IN the hands of the
producer. and let him fix the price
This can b. done BY organizing sub
sfGiary companies in each coJtOn-prOducing
State. and instead OF rushing cotton Z" the
market. as had been done IN the past II
the price i not satisfactory. let the plant
er store his cotton. the warehouse receipt
sing negotiable paper at any bank BE-
cause IL represents 80 many bales OF cot
ton The interest on such loans must be
low. ana We have assurances Texas of
ample funds. With the fOrma JiCu OF each
auxiliary company. IL becomes a part OF
the central organization. hearing the same
relation to IL that the state OF Missouri.
for instance. does TO the national Govern
ment.
COOPERATIVE BASIS
THE company will b. organized on the
cooperative basis. the cotton planters be-
coming stockholders. and 1 believe it Is
the solution OF the marketing of the cot
ton crop. Heretofore have simply
shipped our cotton TO Europe and allowed
the spinners there To riX the price but II
we snould be successful in the organizd-
tion OF the warehouse system the price
OF cotton can be regulated by the planters.
for ;hey can then store their product till
the demand is such that the splnners VIII
pay a reasonable price for IL thus per
n1ittirg the planter 10 participate to a
The planter will then deal directly with
the spinner and not through the middle
man or speculator.
Colonel Morse represents the Southern
Cotton Corporation. and mis- address will
deal with certain features OF the cotton
situation that have suggested themselves
to him in the methods OF handling cotton
after II is ready for the market
Mr. Ednonds's address will be along
lines similar to that Of Colonel Morse AMI
will be one OF the features Of the conyen-
ton
teriay sor the meeting OF the cotton
growers. Georgia sending about 81 The
delegates are appointed by the Govern
ors Of the cotton-producinE States. and Il
is estimated that there will be Slr TO 100
cotton planters in the Agriculture building
when the meeting is called to order this
morning.