The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1907-02-08
= - : - COTTON.
bTGON
RE A CHARTER

"
and Institute Ware Houses, Which
Will gnablo Rvery Nan to
Hold His Cotton.
Mr.. %. d. Smith, president OF the
I South Carolins Cotton GroWers' Asso.
clation, thinks the recent Birmipg.
ham Convention was the best yet
held BIZ the Southern Cotton ARsocia
tion. Indeed, he Ia enthusiastic over
the work accomplished and the plans
outlined there, which he regards as of
the greatest Importance.
One OF the greatest drawbacks un
der which the organization has been
working" no says, was that under
4 our present. plan tho man outside Of
the organization really got mora bel Q.
ft from the efforts and sacrifice Of tire
men inside than the me- inside got
themaslvos. We also recoRn'ze that
the cotton that burt the market wa
the cotton epcumbered with debt,
which had to b8 sold regardless Of
what the prioe Was, to meet deb. that
was upon Ii. Now, tho question was
how could we devise o plan By which
we could offer special Inducements to
tho owners and growers OF cotton to
join the organization, and to show
how 1t would be Of personal benefit to
him rather then DO outside. Next,
how to formulate o practical BUSINESS
f alan hO vyhfNh fhM nOnp r l1Nvy v,hn
owed MONEY against hts cotton, and
his obligation, oluid be helped by cur
organic alton to hold without damsge
to himself, and receive the benefits OF
the organization.
both OF these matters were given
the most earnest attention, and we
believe that nc have found tho solu
tion OF each. In the frat place, we
have ordered q properly constituted
committee to eoure at once our char
ter, masing us q legal organizations;
and under this charter, we want every
county IN the cotton growing states
TO meet and organize their holding
companies; open books Of Bubgoription
for the purpose of raising, II possible,
st least 96 per bale on all cotton
grown in that county; to elect q
board of directors and president, who
shall select fomo man, either from
among their number or otherwise,
who shall become the buying and sell.
ing agent for that organization, who
shall negotiate all loans; who shall
have supervision of all ware houaing,
and &c whom Gan be given uh6 power
OF attorney to dispose of the cotton
placed under his supervision. In other
worGH, he Ia to become the agent Of
that division TO receive cotton, to su.
peryise the buying Of what cotton the
organization buys, to procure adequate
ware house room and, with the ma.
tional officers and local officers Of sim
liar county divislons throughout the
South to negotiate loans On whatever
COTTON Ia hold by him upon which
\ lOans>aro requested.
'Under this plan y member Of the
Southern Cotton Association oan carry
his cotton to the local company, turn
Ii over into their hands, receive o GER
tihcate of ownership, and give TO thit
company the power TO sell that cot
ton, provided IL Is not sold before
price agreed upon by the national or.
ganizS6ion. This price, II enough
counties In the South enter into ID,
shall be made net TO the grower. II,
for Instance, the price agreed upon Is
loo q pound, middling, and 1 carry
my cotton to my local organization
and they q house 1t, insure 1t, and
store ID, q price will be fixed upop
that cotton sufficiently above the 10
cents to pay for the insurance and
storage and the expenses attached
such as salarieB Of officers, interest on
money, etc-and tho buyer pays this.
There was an enthusiastic adop-
6ion OF this plan, and q careful study
OF 10 will reveal the force OF 1t. We
were assured that there was sufficient
capital, both at home and elsewhere.
to 6nGnoe;& Il tho cotton that needed
financing, provided we concentrate IL
IN such form al to make Ii available
for financing. Again these local som.
panias will report daily or weekly TO
d State office how many bales, the
grades, and whatever information IN
necessary, and the mills and tho buv.
ers, when they desire cotton, can
come to our State officials, place their
order for the number of bales And
GRAD s THAI they want, and these or.
ders will be placed with our local ware
house, and the cotton will be deliver.
cd TO the purchaser direct by us.
This will eliminate the p~resenb
great army Of local buyers, brokers
mill men and put US In o position
10 hx "a maintain q stable prico, and
enable the mills to place orders With
those who havo the actual stuff, and
have 10 In such shape and in such le-
gel status that they can place their
orders for twelve months ahead for
the actual cotton j, our var houses,
MIL men tell me--and I have no
right to doubt their woid-that thew
would welcome such a plan as the
above. Instead of having to 20 to
brokers and spectators and place
their orders, as they do now, and ba
dependent upon the rise and fall of
ahe market, as controlled by these
Hpeoulators, for their cotton, they
would rather cOne and buy their cot
ton direct from the man who owns II
and let our organization atoya H. aud |