The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1907-02-06
SELLING COTTON.
SOUTHERN COTTON ASSOCIATION
TO sECuaE \ ACHaRTF'K

And Inatituse Ware Eouses, " hleh
yin Enable Every aah to
EoId lis Cotton.
MY T. D. Smith, president OF the
sonsh Csroltna Cotton Growers Asso
c,.t1on, thinks the recent Bisniag-
ham Convention wss the bsst yes
held by the Southern Cotton Associa-
sion, Indeed, he is enthusiastic over
tho work accomplished and the plans
outlined there, which be regards IS OF
the greatest Importance.
Zone Of the srestese drawbacks ua-
der which tie organization has beec
working he says, "was shat under
cur pressn. plan the nan outside OF
the orcaniz ssion rsaIly get mors bete
fit from the efoyts and sscri6cs Of Il
men Inside than the uen inside got
themsslyes. We also reco2nza that
the cotton that hurt the market wa
ahe coeson ercunbared With ecbt,
which had TO bs solo regsra!ess O.
what the price was, to meet oeoS that
was upon it. Now, the question va
how could we dey!se pan by which
wa could offer special Inducements 70
the owners and growers OF cotton u
Join the organisation, and 60 sno"
how Ii would be OF personal oeneE5 &C
him rather than be outside. Next.
how to formulate prscticsl business
plan by which the poor fellow who
owed money against his cotton. ano
vas forced tc ssalize on it, to meet
his obligation, could be halped By our
o,gsn'astioo to hold without damage
30 himself, and receive the benefits OF
the organization.
Both Of these matters were given
tbs most earnest attention, xnd VT
believe that ne have found the soiu
zion Of each. Ia the fist place, we
hsve ordered properly constituted
committee to secure 1t once our char
tar, mssing us legal organization;
and under this charter, we want every
counsy In the cotton growing states
60 inset and organize their holding
companies; open books OF subscription
for the purpose Of raising, II possible,
ut least SIS per bale on all cotton
grown in thst county; to elect 3
board Of directors and president, who
shall salect some man, either from
among their number or otherwise
who shsll become the buying and sell.
Ing agent for that organization, who
shall negotiate all loans; who shall
have supervision Of all ware housing,
and to whom csn be given the power
OF attorney to dispose Of the cotton
placed under his supervision. In other
words, ne is to become the agent OF
shat division 20 receive cotton, to su-
paryise the buying OF what cotton the
organization buys, to procure adequate
ware house room and, with the ns.
eional officers and local officers OF sim
liar county divisions throughout ahe
South to negotiate loans on whatever
cotton LIZ held by him upon which
losns are requested.
Under this plan member Of the
Southern Cotton Association can carry
his cotton to the local company, surn
1t over into their hands, receive Ger.
ti6cate Of ownership, and give to this
company the power to sell that cot
ton, provided it is not sold bsfoIe q
prics sgseed upon by the national or.
ganizstion. This price, Il enough
counties in the South enter into It,,
shall be made net TO the grower II.
Tor instance, the price agreed opon is
10c . pound, middltng, and l carry
my cotton to my locsl organization
and they ware house it, insure it, and
store IL, price will be fixed upon
thst cotton sufficiently above the 10
cents to pay for the insurance and
storage and the expenses attached
such ss salaries Of officers, interest on
money, ete-s1d the buyer pays this.
There was an enthusiastic adop-
sion Of this plsn. and 3 careful study
Of IL will revesl the force OF it. We
wera assured that there was sufficient
capital, both st home and elsewhere,
10 finance au the cotton that needed
financing, provided we concentrate it
In such form as to make 1t available
fos financing. Again these local com.
psniss will report daily o, weekly to
the Stste otace how many bsles, the
grades, and whssever information is
necessary, and the mills and the buy.
ers, when they desire cotton, csn
some to our State officials, place their
order for the number OF bales and
sradss that they wsut, and these Or
ders will be placed with our local ware
houss, and the cotton viii be deliver.
cd to the purchaser direct By US.
This will eliminate the present
great army Of local buyers, brokers
and mill men and put us in 9 position
TO fx an6 maintain stable price, and
ensbls the mills to placs orders with
those who have the actual stuff, and
hsye II In such shspe and in such le-
gal status that they can plsce their
orders for twelve months shesd for
the actual cotton in our ware houses.
Mill man tell me-and I have no
right to doubt their lwold-thst they
would welcome such plan as the
shove. Instead Of having to so to
brokers snd speculssors and place
their orders, as they do now, and be
dependent upon the rise and fall OF
the market, IS controlled by these
speculsto,s, for their cotton, they
would rather come and buy their cot
con direct from the man who owns it
and let cur organization store Ii and
fnsnra IL and charge interest on Ii,