The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-18
Farmers Hold for Ten
Cent Cotton.
Continued from Page Nine

Continued from Page Nine.)
and they would be certain to get over
seven cents. He declared that specu-
lators were responsible for the slump
and urged against the way in which
government reports are now given
out.
Coming like a clap and upsetting
the market He said that To hold and
then dump q pile of cotton on the
market would depreciate prices that
the correct way was to market the
crop slowly.
In concluding, by request. he eX-
planned the storehousing of cotton,
saying it cost % cents Il month per
bale. Of which 10 cents Went for in
surance, and that on these warehouse
receipts banks would lend money.
Col. Benehan Cameron spoke and
explained how stock dealing affected
the market He eXtolled the value of
cotton warehouses. He endorsed Mr..
Arendell's plan of speaking out and
, then told how different sized crops
would bring different values for the
crops.
Mr.. A. A. Thompson, of Raleigh
being called, said now was the time
for action, that neither Is cent cot
ton or 5 cent cotton suited the manu-
facturer< who wanted stale prices. He
uTSGu III dllilG crop ne IlldTh6Ied SLOW
~, that there should not be a halt of
thirty days and all rush to sell like
sheep Raise your supplies at home
was also his advance, and here he
said that of Col. Polk had required
that TO join the Alliance every man
must raise his own supplies there
would have been Il rush to do.
Mr.. G. b. Afford offered resolution
that cotton can not be wrowers to
Hn f1 ut lsacse, IfGfs
and then charged this 10 10 cents.
Mr.. T. Il. Parker read a series of
resolutions, these providing for or
ganization. declaring the present low
price of cotton Improbable. endorsing
the project to hold back cotton. urging
the farmer TO stand together and
thanking the newspaper for notices
and asked further publications.
Mr.. f. 3. Arendell offered series
of resolution providing that the farm
ers hold their cotton crops for a re-
munerative price, holding at least p
$40 till the price reached 10 cents a
pound, and further that they agree TO
reduce the acreage next season by
% per cent from the present acre
age.
Other resolutions We're offered and
all were referred to committee of
five. consisting Of Messrs. r.. q. Dunn.
l.. r. Wyatt Ransom Hinton, T. IL.
Parker, F. b. Arenden, f. A. Whta-
ker and w A. Wyatt.
This committee, after delberatfon,
reported in favor of the Parker reso-
luton as to organizing the county and
the Arendell resolution as to prices
and acreage.
DR.. j. NJ Templeton wanted for
felt of 81 to be placed on all who did
not abide by the resolutions. but they
were not acted on. Mr.. A. G. Green
said it ought not to be 81, but $50
laid on with a lash. and then there
was laughter.
Mr.. L. r. Wyatt moved TO amend
Mr.. Arendell's resolution by making
the price at which cotton should be
the audience rose and urged for 10
cents a pound; that the cotton gamb-
lers ought to be knocked out. Mr..
F. A. Whitaker spoke for the 10
cents figure. Mr.. r. G. Dunn said it
was important that the farmers agree
to hold. Mr.. A. j. Buffaloe said 10
cents a pound ought to be paid for
cotton and many others urged that
this be made the figure Mr.. Aren-
dell accepted this amendment. and
his amended resolution was adopted
after some further discussion on minor
points.
The meetinng then adjourned, Mr..
Parker announcing that in each pre-
cinct township meetings would be
| held on December 31st to elect dele
gates to a county convention in Raj
eigh on January 18th, and that the
state meeting would be held on jan
uar.t 18th.
The Resolutions Adopted.
The resolutions adopted are as fol-
lows. the plan of organization being
presented by Mr.. Parker. This, after
the preamble setting forth the pur-
pose and cause of the meeting and
the distress of low pricede cotton, at
unwarTantd figures, says:
We ask the entire people Of this
State, and all cotton growing States
to make the farmers cause to bring
about better prices for cotton. our
common cause, for whatever effects
them effects every interest, and we
Qust al stand or fall togther.
We heartily endorse the call for
township, county and State meetings
to consider this question and request
the farmers in every cotton growing
county to become identified with the
movement
That we request the press of this
and other cotton growing States 10
publish these resolutions and give
them the publicity that the gravity
Of the situation demands.
That we thank the newspapers for
the firm stand they have taken in be-
half of the farmers in their efforts
10 better their condition and general
prosperity of the country, and re-
spectfuIly request a continuance of
their efforts in this direction.
The resolutions as to the price at
which to sell cotton and the acreage
offered by Mr.. f. B. Arendell, anud
amended by Mr.. l.. r. Wyatt as stated
are as follows:
Resolved. first, That we the farmers,