The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1907-12-24
Association. Men Will Gather
in Paducah and Frankly Dis
cuss Financial Situation and
Devise Means to Finance
1907 Pool.
THE PLANTERS WILL BE LOYAL.

dents in the present tobacco situation
In the western district will be th'
meeting of the association men 81
McCracken, Marshall and adjoinini
counties. called for Saturday morn
ing, January II, at 10 O'Clock in tbs
McCScken county court house.
The purpose Of the meeting, as an
nounced by Chairman J l.. Var
brough. of the. McCIaekcn countS
association. As TO discuss matters OF
general interest TO association mem
beers, and particularly to devise some
means OF financing the 1907 crop OF
association tobacco"
As repeatedly stated In The sun
the one remaining obstacle IN the
way Of the association controlling
the market in the western district
especially. Is the nnanrial. and II Is
due TO the recent stringency, which
has not yet allowed the money mar
kct to resume normal. Il has been
the policy Of the association TO ad-
vance 90 per cent. OF the value OF the
crop 10 the farmers as they deliver
ed their tobacco. The tobacco was
then held until Il brought the price
hxed by the association al the Guth-
rlc meeting. The money for this adj
vance TO the farmers WAS secured
from local banks In the tobacco dis
trict. warehouse certificates being de-
posted as collateral This Is what
Is meant by financing the pool, and
It's Necessity is understood. when Il
il considered that many OF the plant
ers have no considerable source of
income. other than their tobacco. and
Il must be held until the buyers
come TO the price fixed by the pool
When the furry in the east made
the cifculatlug medium take wings
and compelled tho banks 10 hang
onto their available cash until things
quoted down In the money centcrs,
the farmers we're just getting ready
to dispose Of their tobacco crop, hut
association men we're deferred. be
cause there was no money on hand TO
finance the pool. Consequently. Dc
liverics up TO this time have been
so slight as to amount practically to
nothing
The delay in deliveries probably
will delay them In getting their TO
bacco on the market until late
spring Many planters. OF course.
cannot deposit their tobacco in a
warehouse and welt indefinitely for
sale and distribution OF the profits
of the pool. They haven't the ready
money to live on In the meantime.
II Is probable. too, that buyers viii
not be keen for some time TO pay the
association price. IL was raised an
average Of 81 the hundred, and ac-
oording TO all the usagcs OF trade. 1t
will be up to the association to dem
onstrate to the buyers that II can
hold out indefinitely, or until its
price Is realized That will test the
staying qualities of the pool. The
foreign governments must have the
weed. and the association probably
has so per cent Of the crop pledged.
That is considered sufficient to dom
mate the market, II the pool does
not break through sheer despera-
ton
Il Is to state the situation frank
~. Chairman Yarbrough says that
the meeting is called. There Is no
set program. The farmers are sim
ply going 10 meet and discuss the
situation among themselves. and de-
wise means of financing the crop.
They hope that the financial sltua-
ton will have cleared sufficiently by
that time TO make arrangements for
advances possible. 1t Is believed
the members are loyal and will stand
by the pool. even to the extent OF
accepting less than the usual 60 per
cent advance, where they can do SO
without actual hardship. though It Is
not the purpose of the leaders of the
association TO call members to-
ge,her to make that proposition b
them.
Some of the planters themselves
have expressed that view of II. and
saw that strong members should look
after those financially less able ia
stand the strain temporarily.
Association leaders believe that in
short time all the money needed
10 finance the pool will be available
az the control of the bulk of the
crop gives the association sufficient
assets on which to realize in normal
tlnes but they desire to start the
crof to moving. and so measures Of
expeliency must be adopted