Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-03-21
THE BIG HOLDING COMPANY.

The big cotton holding company
about which there has been so much
talk of late is now an accomplished
fact It was organized In New Or
leans last week, as a creature Of the
Southern Cotton association, with
which it is to be allied. President
Harvie Jordan, Of the Cotton associ-
alton on last Saturday gave out the
following as to its organization and
plans Of operation:
1.-THE recent meeting Of the board
of directors of the Cotton Planters
Commission and Holding company,
which was held at New Orleans on
March 10th and 18th, was well attend
ed. The organization was perfected,
officers elected and the charter OF the
company prepared for immediate pub
lication. T.
"The officers and board Of directors
are as follows:
w. P. Brown, president, New Or
leans, La; Harvie Jordan, first vice
president, Monticello, Ca; Col. e. g.
Peters, second vice president, Calvert,
Texas; A. Brittin, third vice president,
New Orleans, La; 8. p. Walmsley,
fourth vice president, New Orleans,
La.
Directors, including the above:
| Alabama. B. Farley, A. II. Hill,
II. Y. Brooke.
Arkansas-Dr. 1. E. Love, ]. ].
Scroggins. t
Georgia--John D. Walker, Hoke
Smith, M. c. Gay.
Louisiana-F. L. Maxwell, w. L.
Foster.
| rTt..t..,~., xxoIto, T,1ort, q D
Witherspoon, Jacob Bernheimer.
North Carolina. A. Brown, ]. p
Allison.
South Carolina-E. d. Smith, w. s.
Lipscomb.
Tennessee-W. T. Bowdre.
Texas. C. Hickey, c. H. Jenkins
R. r. Dancy, ]. L. Davis, +. M
Green.
! Oklahoma-L. B. Irwin.
Indian Territory-G. w. York.
Executive committee-Harvie Jor-
dan. w. L. Foster, E. c. Peters, 8. p
| Walmsley, John D. Walker, A. Brittin
A. p. Brown.
TT will be noticed that each leading
cotton growing state Is represented or
the board of directors. The capital
stock of the company Is fixed at $780,
100000 in 100000 shares Of 81 each
It is expected that the subscription to
the stock will be distributed princi-
pally among the cotton growers, mer-
chants and bankers throughout the
cotton belt With paid up stock OF
| $10,000,000 the company, as branch
Of the Southern Cotton association
will be financially strong enough tc
successfully resist any bear raid upon
the price of cotton at any time In the
future. 1t was also determined by the
board Of directors that no active worh
should be started by the company un-
III 500 600 of the capital stock had
been subscribed and paid In, and that
no effort would be made 10 solicit cot
l ton until after the first day Of May
In the first place, It would be unwise
to begin work until the company was
financially strong enough to make
its strength felt, and I'm the second
place, 1t was not thought desirable to
solicit cotton until the reduction In
cotton acreage and use Of commercial
fertilizers had become an established
fact.
"The details Of the plan for soliciting
stock and cotton will be worked out
by the executive board In the near fu-
ture and published for the Information
of those who are interested. The sub
scription for stock will doubtless be
placed in the hands Of the local bank.
ers throughout the cotton belt and
with, the officials of the Southern Cot
ton ybsociation In county or parish anc
state divisions Of the association. Par
ties who desire shares Of stock III
the company can go to their loca
bankers and subscribe for same.
"The method of soliciting cotton was
based upon a plan which will not take
the title of ownership away from the
spot holders, nor will 1t undertake tf
remove cotton to any central poin
from the present place where slcf
cotton Is now stored or held. In othel
words, the scheme for retiring mil.
llion and a half bales Of the surplu'
of the crop Of 1904 from the market
will be confined very largely to trans
ferring the sale Of such cotton to the
Cotton Planters Commission and
Holding company. giving said compa-
ny the right to sell said cotton aftel
the 31st day of October, based upor
the minimum price Of 10 cents pei
pound delivered at the ports, or. IL the
price of cotton should advance to II
cents between now and October 81
then the owners Of said cotton retalr
the privilege of ordering such cottor
sold for their account. BY this plar
the surplus will be retired from the
to meet the legitimate demands OF the
mills for legitimate consumption will
be left upon the markets for sale
with q material reduction in acreage
the retiring of the surplus and the
continued holding Of spot cotton fol
immediate consumption, there can bt
no question that there must be ma.
terial advance In the price Of cottor
before the first day OF June. The
Southern Cotton association takes the
position that the producers are res.
ponsible for the surplus, and should
take care Of said surplus, and through
the cotton company recently organized
1t is proposed that such surplus may
be so handled as to bring its fair and
Legitimate "N'ce.
"Mr. w. r. Brown, president OF thu
cotton company. Is one Of the leadina
cotton exporters In the south. He fs
the fourth largest exporter Of American
cotton and remarkably successfu
dealer in the cotton business. The cot
ton company, therefore, through Its
president. brings to bear the brain, en-.
ergy and expert knowledge Of one oi
the very best cotton men In America
and a man who has always favored
placing the price Of cotton up to the
fair and legitimate value Of 10 cents
per pound.
"The Cotton Planters Commission
and Holding company Is the only COM
many of the kind which has the In
dorsement and cooperation Of the
| Southern Cotton association. The sue
cess of the company will largely de-
pend upon the Endorsement which II
RECEIVES at the hands Of the spot hold
ers and cotton producers Of the south
II the company Is literally patronized
by that class Of people, its success is
assured. II the company Is properly
supported. 1t will at. all times act as q
bulwark Of safety to the cotton pro-
ducers, cotton manufacturers and the
raids Of the bear element which have
during the past few months, been SO
disastrous and exercised such a. de-
pressing influence upon the markets
and milling interests of the country.
What the south wants Is not a wide
| huctuating cotton market but a mar
row market. keeping the price Of cot
ton at a stable figure between and IL
cents per pound each month during
the year. With the entire support of
| the business interests Of our country
the Southern Cotton association and
fhe Cotton Planters Commission and
Holding company, operating Jointly
ard harmoniouslv together. can estab-
lish and maintain the price Of cotton
at stable figure which will be alike
profitable to the growers and to the
summers. To establish this condition