The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-01-13
NOT SELL COTTON
| UNDER fifteen.
South ern Association
Cheers Committees
Statement,
REDUCE ACREAGE
BY TEN PER CENT,
"Bear Dope" Reports IN Wall
Street Indicating Dissension
Leads to An Expression
That Indicates the
Course to Be
Followed.
raw AasocIated presa.l

(By Associated Press.)
. NEW ORLEANS, January 12.-That the
sum of the work Of the 6outhern Cotton
Association was to be declaration for
fifteen cent cotton. with reduction OF
acreage in the form Of diversidcaton ef
crops. was practically settled ut the af-
ternoon session OF the convention to-day,
when Chairman Danoy, OF the committee
on holding in advance OF the presentation
of Its report announced that the COM
mlttoe had unanimously decided favorably
to that proposition. The announcement
provoked the convention to a whlrlwind
of cheering.
The premature announcement Of the
conclusions OF the committee was forced
by advtces from New York to the effect
that newspaper dispatches and Wall
Street reports printed and circulated there
indicated n lack OF harmony among the
elements making up the convention and
dissensions over the fifteen cent propo-
sitlon.
Reports Were "Bear Dope"
President Jordan brought the matter
before the convention. He referred to the
reports. which. he said. he was informed
appeared to-day In all the New York
papers as Dear dope" evidently manu-
featured by agents of the speculators,
who We're sent to minSie with the dele
gates of the conventions. The report that
the convention did not have In its pur-
poses. plans and work the hearty support.
sympathy and cooperation of every bank
and merchant. he declared to be absolute
ly without foundation.
Alexander H. Smith, OF Greene county.
Ga. urged the sending Of telegram an
nouncing that the South needed no money
from Wall Street, but had II to lend. He
said the five banks In his county were
pledged to absolute support of the farm
ers. and that not another bale there would
hs sold under fifteen cents.
T. y. Massengale. OF Georgia, moved
that the president be instructed to send
a statement through the Associated
Press that the bankers. merchants and
farmers were In perfect unison of thought
| and that he correct the statements to the
contrary circulated by Wall Street Near
| operators who were doing all In their
! power TO break up the cotton growers
| organization, The resolution was sdopt-
| ed.
Wants to Whip En- Back.
Mr.. Goodwin, of Georgia. said 1T was
evident that New York was beginning to
anticipate for the construction OF the
Panama Canal the transfer to New Or
leans, Galveston and Mobile Of supremacy
In the rich trade with the Orient. when
these people ind they can no longer con-
troll u.s." said Mr. Goodwin. they will
try to secede from this government and
I pray to God that will live long enough
to help whip them back into It." SEN
timent which provoked the convention tc
amusement and cheers.
r. Dancy, chairman of the holding
committee, then said that In view OF
the reports whicA had been circulated in
the East of dlssansion In the convention.
report that the committee was unanimous
in It's decision to ask the convention &c
stand by the proposition that the South
ern farmers held their cotton for 15 cents
Further he said 1t was decided to ask
the committee on acreage to join in anoth.
er plan for ten per cent reduction In
acreage In the form of diversifcatlon and
a ten per cent. reduction of fertilizers In
/, the older States.
The enthusiasm with which the an
nolncement was received left little doubt
of the sentiment of the convention.
Congratulated By Bankers.
Chairman Walker, of Sparta, Ga. who
presided over the meeting of the bankers
had enthusiastically adopted the follow
ing resolutions:
'.The Southern bankers. in convention,
congratulate the Southern Cotton Asso-
citation on the SUCCESS which 1t has al
ready attained in It's efforts to maintain
n fair and equitable price for the South q
staple crop and recognizing that tho In
terests OF the farmers. bankers and busl-
(Contlnued on Seventh Page)