The Union times. [volume] (Union, S.C.) 1894-1918, 1906-10-05
offered for sale below the mini.
mum price.

mum price.
LOCAL SELF-GovERNMENT.
The idea of local government
of the company will be carried
out as far as possible. For in
stance, the money collected in
each county should be deposited
in the banks of that county, and
as far as possible used for retir-
ing cotton in that county offered
for sale under the minimum
price. The counties are to be or
ganized into a State company
and in the different State COM
panies into a national company.
with a central Office for each
State company and one central
office for the national company.
1t was the sense of this meet
ing that if this company was
ready to begin operations at an
early date, that the price of cot
ton could readily be carried a cent
higher, or up to the 10 cents
minimum asked. If this COM
pany should go on the market at
present and buy cotton at 9 cents
per pound and the price should
advance within 80 days to 10
cents, there would be a profit of
SIS per bale to the stockholders,
of said company, giving the
stockholders 100 per cent. divi-
dend on the money invested. No
subscription made to the COM
pany is to be binding until the
= s,ensaa was the sense 81 ahaffi atfi,s snheaseEiAs
that the company shall not begin
oneration until the $40, Oo0, ,OOU9
shall have been paid in full and
deposited in the county banks n IS
where collected. Of course, 1t IS
distinctly understood that eacn
and every one of the subscribers
for stock who pays in the money
s or cotton, gets a certlhcate 1oi
: the number of shares subscribed
h for and that the liability OF eacf
}. subscriber to this stock VIII Of
f limited by the charter to tht
: amount subscribed. The under
e Stoned committee, after fully dis
h c,1ssinp this plan, heartily. ar
N proves and endorses and oeiieve 1e
I'd that such a plan will be necess;
re w to fix and maintain a stap
ts nr;ce for cotton. 1t unheslta
IT. inolv recommends it to the pc
let nie of the State, believing
to be practicable and 1easioie'
he Francis H. Westo
OF R. M. Pegues.
ng Wade Stackhouse,
the w. D. Bryan,
m F. H. Hyatt,
nit Walter Gregg,
!gs, w. j. Moore.
lnt. The Union County Cotton Grt
ne .he ers association then took
| the matter of holding Tor
u ! "a cents. A circular letter from
= @ up s. G.. division was read and
cap c,,ssed considering the vast q
ace to crops throughout
South. the members thougl
altOgeCner Sale dilu ooi, w ,
com. for ten cents and to sell as
nth as possible for even that.
ison' letter is as follows: ,
well Columbia, S. G.. Sept. "a. !
from To the Cotton Growers OF >
ot otton ton We beg to say that we ar
capi- ceiving daily ccmmunica
With stating the condition OF the
,nera. ton crop throughout the c
e paid belt. we have Jus' M;ss;s
flaws Georgia, North Carolina, L
erning ana, Alabama and Arks
',shed' stating in some instances
~ s,,b. the crop will even be shorte
AZ any to last year, and, taken as '
az ,ar hale will not be more than an az
m, and crop. From rem iel.aE.e 9th &c q,
e stock are satisned ina. ousr o,Iara ~ ~
na;d in this year. Therefore, we
Of the estly appeal to the cotton
n " cents 9rs to hold their cotton
!, y, to he cents, we connot afford t
cotton it for less. If we can g