The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1905-01-26
BETTER PRICES FOR COTTON.

Mr.. Editor, Planters, Merchants, Bank
ers aud others:
All the theories, writings, causeries
aud plans on earth, no matter how
6 'od they are, will not help the cotton
situation unless they are put into exc
cut!on and it takes money first and Of
ganlzation next. Money can always
organize, cooperation, no matter how
ardent and strong, it must have foun-
tain head. There must Re system.
The time has come when something
practical must be done, something be-
sides advice and suggestions.
1t will take ten million dollars in all
hard cash to start with, to carry our
plans to a successful termination.
When we once get ten million, there
will be no trouble to get an unlimited
amount, but like the millionaires of
Today, their greatest struggle was Tor
heir first thousand. A short and par
'itl synopsis of our plan is this-Form
ne Southern States Cotton Company,
prllcation for charter which will be
made. This company will he a stock
company and every shareholder will
anticipate in its profits. The company
.iil issue ten million shares of stock,
par value being one dollar per share
(nothfng less than ten shares will be
issued We want every bank IN the
Southern States to take one hundred
shares, every merchant to take at
least ten shares aud every PLANTER to
take ore share for each bale OF cotton
ne raised last season.
Then let every one else take as many
shares as they will.
This money must be raised at once
Or Scent cotton is inevitable.
As soon as the subscriptions amount
ID one hundred thousand dollars this
company will have solicitors In every
cotton-prodncing county in the South.
When a sufficient amount is snbscrib-
ed we will begin our bonded waie-
house system in all the larger Import
ant cotton ports and interior points
and will be in the market FOR at least
.wo million bales OF actual cotton. The
planters and merchants VINO do not
:i.h to sell their cotton can ship it to
'rr different ware houses and a recel2 t
guaranteed by a bonding company will
oe issued them for same, receipt that
is as good and negotiable at Liverpool,
England, as it Is in the South. For in
stance, If Mr. B ships us SO bales OF
cotton, dlfferent grades, we Issue him
a receipt for so many pounds OF each
g'ade.
No two grades are Oh the same re
ceIpt, and by this means Mr.. B can
ell his cotton direct to the mills Or to
the exporter, as these receipts call for
), many pounds OF a certain grade, and
IN presentation of the receipts at our
warehouses the purchaser gets the ex-
,ct grade be buys. This would reyo'u-
:ionize the cotton business and save
ne countless thousands of dollars lost
b. the present way Of handling cotton.
This company will lend you money on
;,tton in their warehouses at 6 pei
sent, per annnm.
We will have Offices in New York
md New Orleans and other places ii
necessary. With our system, twelve
million bale crop would not sell for less
han 9 or 10 cents.
1t is a mistaken Idea that the mills
van: and 6 cent cotton.
When cotton opens up at 10 CENTS In
September and in November sells at
cents it - as demorallzing to them as
it is to every other business interest OF
the South. The acreage can be reduc-
ed If necess .ry-one of the ways is
this-For one dollar per bale margin
this company will b1y for planter as
many bales of acutal cotton Of the pres
ent crop as he made bales this past
season provided this planter does moi
clant any cotton at all this year. In
5000 he violates the agreement. then he
forfeits the malgin to the comaa
We will haye travelling and local rep
sentatives to see that this is carried
ont. Then Tor five dollars per bale
margin this company will buy any one
As many bales as they want OF &C ,ual
cotton of this seasons crop and bod it
as long az they wish.
In either one of these cases will this
company call on the parties for any ad
ditional margin at any time. The OBJ
iect the formation and existence of
this ompany IS TOR the betterment Of
the cotton situation AMI 10 take cotton
out OF the hands of SPECTATORS, and
with our plans. nf which this il 0 ~ q
mart. it can bs d ne /. is with you
now. whether or not you wish to batter
yourself aud make this snc:e SO and
without money it il failure II the
necess ary amount is not IN baud by