The Caucasian. (Shreveport, La.) 1900-192?, 1905-01-17
COTTON CONYENTINN.
WAREHOUSE SYSTEM TO BE OR.
GANIZED IN NEW ORLEANS,
The Waco Plan Will Be Submitted for
Adoption - Bankers, Merchants,
Planters and Farmers Interested.

To the Farmers, Merchants and Bank
ers of the Cotton States and Terrific
| ries: In 1873 Josh Billings, at the clos
OF his Waco lecture humorously stated
Il have talked for an hour and hal
and if | have not struck oil l have bee
boring at the wrong place or been Dor
ing with damn dull auger."
For more than year | have devote,
my best thought, time and labor for
single purpose, that is, to bring abou
concert of action for the establishment
of system of cotton warehousing
Whether / have struck oil or been Dor
ing at the wrong place or with a dul
augur should be determined at the New
Orleans Cotton Convention, January "a
IS and IS, 1905.
Concert of action seems assured a
this convention. 1t is called by Hon
Harvie Jordan of Monticello, Ga, presi
dent of the Southern Cotton Grower:
Association. The actual growers Of
cotton will constitute the membership ot
the New Orleans convention. Merchants
from all the cotton States and terrific
ries have been invited to attend a con-
ference of merchants to meet on Jan.
uary IS at the st. Charles Hotel, New
Orleans, at II o'clock, being the second
day of the convention. A like confer
ence of bankers to meet at the St
Charles Hotel at the same time is being
called by the presidents of the bankers
associations of all the cotton states and
territories.
The three bodies of business men,
who act together in producing the cot
ton crop will be called on for the first
time to act together in devising a busi-
ness-iike system for marketing it.
The fact that cotton brought II cents
in February, 1904, and cents in Decem-
Der of the same year, demonstrates that
such system is absolutely necessary.
The fact that several millions Of bales
Of cotton are now lying out, exposed to
mud, rain and other detrimental weather
influence, to its lss 20 to 50 pounds per
bale, demonstrates that such a system
IS absolutely necessary.
The fact that this cotton must be held
until after the time for planting the next
crop has passed, or possibly until the
pext crop natures. demonstrates that
such a system is absolutely necessary.
The fact that the exact number of
hese several millions of bales of cotton
$ unknown, and that the exact number
IF these bales Of cotton should be known
N order to determine the exact acreage
which should be planted for the next
.rop demonstrates that such system is
absolutely necessary.
The fact that high rates of interest and
insurance are being paid by farmers
,olding these several millions of bales of
.otton, whereas low rates of interest on
warehouse receipts as collateral and
ow rates Of insurance could be hali if
hese several millions of bales were
safely stored, demonstrates that such a.
,ystem is absolutely necessary.
The fact that in November, 1893, cot
on sold for S cents, because there was
j surplus produced, and that this sur
,lus could have been sold for remunera
i've prices if it had been held, demon
;trates that such system is absolutely
necessary.
The fact that the present crop is being
;old at nearly the same low rate, and
hat these periods Of depression occur,
md must in the nature of things occur
It 4 greater or less degree every year
iniess business-like method Of hold
ng the surplus each year, is adopted,
that such system is abb
'olutely necessary.
The work Of organizing such system
las been undertaken by the Business
Mems Club and the Farmers Institute Of
Naco, McLennon County, Texas, ard
sas been endorsed by numerous organi-
:ations and by bankers and business men
throughout the whole country. This
work is not my individual work / am
,ut the representative Of these business
organizations and bankers and mer-
.han.s who believe that such work
,hould be accomplished. IF it is to be
accomplished, the concerted action Of
hese three classes Of people the farm
rs, the merchants, and bankers, must
e had. If this work is to be accom-
,iished in time for the crop Of 1906
goo. then sentiment must crystalline at
New Orleans, January "a rs ami 26,
md prompt action must follow the adj
ournment Of the convention
This letter is written not to persuade
'arn1ers, merchants and bankers of the
OF warehousing system for
practically all agree that such a system
! absolutely necessary, but It IS written
D ask each farmer and merchant and
,anler who may read il, to realize s,at
'he accomplishment Of the work will
depend upon the concerted action Of
|hese three classes Of men All can