Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1907-01-25

it's report. before the coming In of
which no business was attempted. But
every one Of the many able addresses
made stressed one or more OF the fol-
lowing evils which depress the
market price Of cotton below its real
| value, and which need correction-to
bring about any one Of which requires
more perfect organization than now
exists:
81. The custom ruling in the New
| York Cotton Exchange of allowing fu-
ture contracts to be deemed perform
ed by the delivery Of dog -tair' cot
ton; instead Of requiring a fixed grade
| to be made the basis Of such con-
| tracts, and a delivery accordingly, II
so noticed, which would give real tone
to the market. On this point Geor-
ga's Governor-elect Hoke Smiths ad-
| dress was very fine" r.
"2. The rapid marketing Of cotton,
| instead of so storing 1t as to be able
to best use it as collateral, to be oc-
| complished by a systematic erection
and maintenance Of standard ware
houses.
IS. The inability of the weak" cot
| ton grower to hold his cotton even
| when he so desires. showing the ne
| cessity for devising some special
means to help the weak" to hold. The
address of our own state president, E.
d. Smith along this line stirred up the
convention most of all.
1.-The grievances were made plain
enough, and the convention then and
there easily raised $4,000, the amount
asked for to push the work OF relief
| for 1907 York County association
having subscribed 800 asked for, and
MIR. +. H. Barber Of Rock Hill, indi-
vidually subscribed the same sum-
But II was impossible for the conven-
ton to devise definite plans. Such
work must of necessity fall upon the
executive committee: and with the
grievances so plainly pointed out, and
| the funds in sight with which to make
the fight, the outlook for a happy Is
sue out of some or all Of them Is quite
encouraging.
"The executive committee Is now
| working on some amendments to the
big general corporation plan Of hold.
| ing and marketing cotton that VIII
raise sufficient money to furnish re-
| lief from the second and third grieV-
lance mentioned above, and at the same
time leave the assets and liabilities
of every county sub division free from
those Of every other county sub divls-
sion. / submitted an Independent plan
along this latter line which / believe
| will receive due consideration at the
| hands Of that committee. My inten-
ton is to take my full share OF stock,
\ whatever plan the committee may n
| nally recommend. and | sincerely nope
every cotton grower in York county
| will do the same
The following is the plan referred to
| by Mr.. Spencer:
L. Resolved, That every county
subdivision of the Southern Cotton
association be requested at once to
take proper steps to secure a charter
/ for an agency of said subdivision
whose principal business will be to
erect and operate standard ware
houses for the storing OF cotton grown
| in the county; to buy cotton oHered
| on the market at less than the price
fixed by the Southern Cotton associa-
ton; and to lend money on warehouse
cotton when offered as security, pro-
vided that such pledged cotton Is 10
become the absolute property or salu
agency, at its option, as soon as the
loan reaches the market value or the
pledged cotton.
2. Resolved, That the capital
stock of every sub-agency should be
sum equal to five dollars per bale
of every bale Of cotton grown In the
county during the year 1905, payable
one-fifth cash, and the remainder In
| four equal annual installments; pro-
yided that all subscribers to the capi-
tai stock, whether actual cotton grow
ers or not are to be deemed members
of the subdivision Of the Southern
Cotton association in his county u
otherwise eligible to membership; and
provided further that every actual
cotton grower in the county Is to have
a reasonable opportunity offered to
him to take his full proportion OF
stock before finally selling to non-cot-
ton growers.
3. Resolved, That the legislatures
of all of the cotton growing states are
hereby requested to amend their
| charter laws so as to exempt such
agencies from paying any commission
on the capital stock as part OF the
| charter fees whenever such amend
ment is necessary to exempt them
| from paying such commission.
4. Resolved That every such ag-
ency, and every holder Of such ware
house cotton, Is requested to advise
with its or his own subdivision of the
Southern Cotton association, after the
latter has advised with Its state diyis-
ion of the Southern Cotton association,
and after the latter has advised with
the (general) Southern Cotton associ-
alton as to the best method of market
/ ing its or his own cotton so ware
housed, with q view to make an ad-
yantageous combination sale, before
any individual selling Of said cotton,
or before selling any Of said cotton In
parcels.