The Birmingham age-herald., 1907-04-23
COTTON EXCHANGE PLANS AIRED TODAY Well Known Men Here to At-
 tend Conference MANY ARE INTERESTED President Harvle Jordan Here--sey- n1our Talks on Benefits to Be De-
 rived From Plenty of
 Warehouses.
MANY ARE INTERESTED

A conference VIII De lelu III lHS Soii' mercinl club rooms today to discuss the advisablllty of establishing cotton war rant exchange here, to deal solely in warehouse warrants. The conference will be attended by representatives of the Southern Cotton association, delegates from the Farmers union, the business men of Birmingham, and number ot business men from other parts or the state and probably the south.
 The call for the conference was issued by about fifteen men representing all phases of cotton raising, handling and selling, and it is believed that the con- ference will be thoroughly representative.
 President Robert Jemison, Jr., of the Commercial club has Issued an invitation to all those interested in the matter to be present at the conference, and many of the citizens of Birmingham and other cities have signified their intention of being present.
 Will Handle Only Warrants.
 If established the exchange will handle nothing but warrants and every transfer will represent bale or q specified num- Der of actual bales of cotton. There VIII be no dealing in future delivery on mar gins.
 The Farmers union of Alabama has appointed Mir. Parker of Pell City, bus mess agent of the union, and George McElderry of Talladega as delegates to the conference. President Harvie Jordan of the Southern Cotton association, who arrived yesterday, and others will at tend the conference.
 It has been set forth several times that the establishment of this exchange would bring millions of dollars to Birmingham, make the city the center of the cotton handling business, and probably lead to vast improvements in the system of hand ling cotton.
 Wants Chain of Warehouses.
 T hope that the time Is not far dis tant when chain of warehouses and warrant exchanges will be established throughout Alabama" said President w. H. Seymour of the Alabama division of the Southern Cotton association, at the Metropolitan hotel last night. From the spirit which is being manifested by the eottongrowers of the south, I am sanguine that our object will be shortly attained.
 No one who has given the matter serl- ous study can doubt the benefit to be derived therefrom, and while 1t Is lnevit- ably slow work, we are accomplishing a great deal All that is needed Is a greater realization by the planter of his oppor- tunities, and he will be more than will ing to aid the efforts of tine association by the expenditure of a few dollars now which will bring an almost, if not ac- tually, undreamed of return
 South Has Monopoly.
 Last year England spent s150,000 in the attempt to raise cotton in her provinces, but unsuccessfully. Millions have been spent in similar efforts. The southern states of the United States constitute the only region in the world which can pro duce this staple at a profit and I re- gret to confess that there are some plan ters In comfortable and even affuent cir cumstances, who have not yet eylnced any disposition financially. Still, we are confident that the dissemination of en- Tightening literature and frequent meet ings, local and national, will eventually bring about unanimous action."
 MT Seymour is in Birmingham to at- tend the meeting this afternoon.
 Here to Raise Funds.
 F. A. Guledge of Verbena, Ala, state financial agent for the Southern Cotton association, is in Birmingham for the purpose of raising funds to promote the work of the organization. Many of larger cities of the state have contributed gen erously to the cause of the association and the state financial agent anticipates a liberal response from local interests to his call for subscriptions.
 Montgomery said MT. Gulledge, has given N4OO and I have good reason to believe that the amount will be increased to 5000. Smaller towns have made propor- donate contributions and I am confident that Birmingham, which has always played a prominent part in every move ment looking to the advancement of in- dustrial conditions in this district, and throughout the states as well, will be prompt to further her own interests. by contributing literally to the work of the association.
 "The funds secured are to be used part iy to discharge indebtedness already ex- isting and to send active and influential agents into the rural districts to organ ize counties. publish and distribute liter ature and to generally promote agricul- tural interest in this and other cotton producing states.