The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1907-04-25

THE FARMERS OPPORTUNITY.

TIlSeWIlILt HI GIIlS IsSuC 10 DllDllSilCIl
a call by the president of the Halifax
county division of the Southern Cot
ton Association for . meeting of the
farmers at Halifax Monday, May
9th.
The meeting is called to consider
the proposition of the Southern Cot
ton Association to organize a ten
million dollar stock company to con-
troll the price Of cotton in the South
The plan proposes to embrace every
cotton producing county or parish
in the Southern States, each county
preparing such warehouses as will
be necessary to store the cotton until
satisfactory prices are secured.
Hon. E. D. Smith, in his great and
powerful address at Enfield, said that
Halifax county ought to subscribe
stock to the amount of one hundred
and twenty-five thousand dollars.
With this amount of money in stock,
deducting what might be necessary
to build warehouses, it would be
easy to hold all the cotton produced
in the county until satisfactory
prices could be secured.
The cotton that is marketed dur
ing the first two months Of the
season, say from Sept ember 18th to
November 18th, sets the price of
cotton fot tie season.
This early marketed cotton is gen
orally tha; which is nortgaged for
supplies and fertilizers. The farm
er who is thus under obligation to
his merchant has to discharge his
obligation and so sells his first cotton
at any price he can get for it.
Now, with the money at hand
through the medium Of the ware
house companies this cotton can be
bought and stored in the county and
kept off the market until prices go
up to a reasonable figure.
There are two ways Of managing
the matter The farmer who is I'M
der obligation to sell his cotton can
discharge his obligation by storing
his cotton in the warehouse and tax
ing his warehouse receipt to the
merchant, who will receive it as
cash. A bale Of cotton is always
equal to cash. But if the farmer
should say that he does not care to
bother with the warehouse receipt
but prefers to sell his cotton out
right and be done with it, then the
warehouse company can say to him,
If you will sell your cotton anyway,
we will give you a sixteenth or an
eighth of a cent more than the mer-
chant or cotton buyer will give you. "
So the farmer will sell his cotton to
the warehouse, pay his bill and go
back home, but his cotton will not
go upon the market. 1t will be kept
in the warehouse right here in the
county until the price becomes salts
factory.
Now, suppose that Wall Street
starts the price at 8 cents and the
Southern Cotton Association names
10 cents as the minimum price. The
warehouse companies will buy all
the cotton that is forced on the mar
ket at cents and hold it until the
spinners need it SO much they will
give 10 cents. The difference will
go to the warehouse people, the
stockholders right here at home, in.
stead of to the gamblers in Wal
Street.
This, in the main, is the outline OF
sorle of the important features oil
the plan. It seems to be feasible
practical and easy. Will the farm
ers of Halifax county take it up anc
help save the price of cotton to the
South? 1t will mean millions anc
millions of dollars to the people oil
the South.
The plan Of subscription is fol-
farmers to take one share for every
bale of cotton they raise, the value
of share being five dollars. The
subscriptions will be called for by
instalments. The proposition of Mr.
Smith and those who are promoting