The Montgomery advertiser., 1905-01-23

marketing and the stableness of price has peen thereby affected.
 '"All things considered-poor land, fertilizers, stock, labor, eto-10 cents is considered a fair price for cotton where one can find a ready market for 1t. and as the only legitimate grounds upon which such an organization as would be that of protection, any scheme that should have for its object the sale of cotton at a price in excess of what would be reasonable would be wrong.
 One Great Corporation.
 T assume that if all who produce cotton should place their entire crop in the hands of a corporation, with or- ders to sell only at 10 cents, spinners would buy the amount needed for the worlds consumption at that price, and the remaining would be worth as much when needed. I also assume that if all producers would place half their cotton in the hands of a corporation with orders to sell for 10 cents, by pro- ducers at a little less than 10 cents.
 My plan then contemplates the re- tirement of at least enough cotton from the market that the remaining may not be more than the demand, and to do that I would suggest the formation of a stock company or corporation with headquarters at the most desirable point and with branch offices, if found necessary; the election of members of 8 board of control to consist of one member for each county producing from two to ten thousand bales; two for counties from ten to twenty-five thousand; three for counties from twen- Ity-five to fifty thousand, and four for counties producing more; the securing of contracts in which landlords con tract for themselves. and tenants vixen possible to subscribe in cotton at the rate of $5 per bale for every bale pro- duced to be held in trust by the cor poration until 10 1-2 cents is realized therefor, the delivery of the cotton at
 station or landing properly housed; the sampling by expert cotton men; the
 issuance of certificate of stock to sub- scribers, showing amount of cotton | subscribed. marks, and such informa- tion as to quality as desired by spin ners, where stored and when subscrib- ed, which shall be the date of delivery at warehouse; said stock to be trans IferrabIe, but the transferee to acquire thereby no right to participate in any election; the redemption of said stock | by seniority; the duty of manager or president, in addition to his other du- | ties. to ask for bids for loans on the stock of such subscribers as may de- sire 1t and to ask for bids on insur-
 ance, but no loans to be negotiated nor insurance placed without consent oi
 majority of board of control; and the publication of vote of board on all questions. For the purpose of defray-
 ing the expenses of corporation. it is | intended the one-half a cent of the 10 1-2 cents of all cotton sold should be retained If found necessary by the corporation, and to raise sufficient
 funds for operating expenses in the be-
 ginning I would suggest that a lien to
 the amount of $1 on each bale sub scribed attach.
 'In proportion to the surplus on
 hand, the correctness of which could
 not be longer doubted, then would the
 acreage be reduced. And by pooling
 interests loans could be secured at a small rate"