The Montgomery advertiser., 1905-03-03
TO RETIRE SURPLUS
MEETING OF COTTON PLANTERS IN
 NEW ORLEANS.
Active steps Will Be Taken to Relegate Two MiIlion Bales From Pres
 ent Market-Harvie
 Jordan Talks.

Atlanta. Ga, March 3.--A meeting of the Cotton Planters Commission and Holding Company will be held in New Orleans on March 10th. to take active steps to retire from the market [, ,o0o, 900 bales of cotton of the surplus of the crop of 1904 The Executive Commit- tee of the Southern Cotton Association believes that with 100000 retired from the market the price of cotton will soon reach 10 cents per pound again.
 President Harvie Jordan, in. an in- teresting Interview. tells of the organi- xation of the company and gives the names of the Board of Directors of the company formed. Mir. Jordan says:
 @Ths Executive Committee of the Southern Cotton Association while in session at New Orleans, Jan- uary ss, 1905, created the Cot ton Planters, Commission and Holding Company The object of the company fs to pool or retire from the market the a,ooe,ooo bales of surplus of the 1904 crop. and to hold it until next October or such time as 1t can be used by the mills at 10 cents per pound. This action is not to be used for speculative purposes or to be con- centrated at any one point until at such time as 1t can be sold and shipped direct to the spinners. The Executive Committee of the Southern Cotton As- sociation believes that with the surplus removed from the markets, 10 cents per pound can be easily secured to the present spot holders of cotton for the balance of the nnsold crop needed for consumption between now and the first of September. It Is also deemed best to take charge of. whatever surplus we make, and not permit 1t to pass into ko Aa Df Afh .I~. when the price offered is below the cost of production. It is confidently believ- ed that the cotton company of the As- sociation will be able to secure possess sion of the entire surplus and that it will also be able to finance any part of the surplus upon which funds may be needed by the present owners at ss5 per bale. ss .'@
 "A charter under the laws of Louis- iana has already been secured and New Orleans will be made the headquarters of the company. Everything Is now ready to perfect the organization Of the company and to elect It's officers so that active work can be commenced The success of the movement will largely depend upon a general reduction in the cotton acreage and use of commercial fertilizers this season of at least 25 per cent, so that the crop of 1905 will not be greater than 9,000.080 bales, which added to the 100000 bales carried over will not exceed the worlds demand for consumption In 1908, thereby enabling the growers to secure 10 cents per pound for the entire i1,000, 900 bales The cotton company Is not only. ina tended to handle the present surplus, but to become a permanent part of the work of the Southern Cotton Assoeia- tien in protecting future crops from the raid of bear speculators. 'e
 Tn my official capacity as President of the Southern Cotton Association, I have recently notified the members of the Board of Directors of the cotton company to meet at the city of New Or leans, Friday. March 10, for the pur- pose of perfecting the organization, electing officers and working out the details of the plans by which the sur plus is to be tied up. Following are the Beard of Directors, showing the Representation of each cotton State and Territory on the board: .. "Alabama-Louis B. Farley :, Mont gomefy; R. R. Poole, Montgomery; H. " Brooke, Luverne. 'Arkansas--Dr.' L. E. Love- Darda- nelle; J. J. Seroggins, Morriilton. ''Georgia-J. Pope Brown, Hawkins vile; Jno. D. Walker, Sparta; M. l.. Jordan. Cass Station. 'Louisiana--J. M. Parker, New Or leans; w, Foster. Shreveport.
 '1dississippi-J. B. Millsaps. Jack sen; Jno. A. Bailey. Meridian; Jacob Bernheimer, Port Gibson. ;
 North Caroiina-J. A. Brown, Chad bourne; J. T. Allison, Concord South Caroiina-E. D. Smith, Mag nolia; W, M. Lipscomb, Gaffney.
 "Tennessee--W. D. Bowdry.
 "Texas-C. H. Jenkins, Brownwood; R. R. Dancy, Houston; R. A. Ferris, Dallas; J. c. Hickey. Henderson; F. M. Green, Atlanta.
 "oklahoma-L. B. Irwin, Saltwater
 Indian Territory-G. W. York, In- dianola.
 There will be full attendance of the Board of Directors at this meeting, as each member has been urged to be present. The official stan will prob- ably consist of a President, four Vice Presidents, Secretary and Treasurer, When the plans of the Cotton Plan ters' lCommission and Holding Company are presented to the public. there is no doubt but what general response will be made by spot holders throughout the South.
 "Iiarvie Jordan. "President Southern Cotton Assoofa :