The Birmingham age-herald., 1907-04-24
ALL FOR BIRMINGHAM AS
 SOUTH'S LOGICAL GEN TER
Prominent Men From All Parts of the South Were Here Yesterday and Were Enthusiastic over
 Big Project.

A spot cotton exchange to deal in ware house warrants, each representing a bale of cotton, is q certainty in Birmingham
 At q conference held yesterday after noon in the Commercial club rooms 1t was unanimously decided to establish such exchange, and q committee of five was appointed to draft resolutions. secure a charter from the state and report back to another meeting to be held within sixty days.
 The conference yesterday was probably as representative as was ever held in Birmingham. Every side of the cotton business was represented from the farmer to the mill man. The list of those present included planters, bankers, merchants cotton mill men, cotton buyers, officers of the Southern Cotton association, of- ficials of the Farmers union and business men. The delegates came from every part of the south.
 Everyone Recognizes Need.
 The prevailing idea of the meeting was the need of a cotton exchange where warrants representing actual cotton could be bought and sold, each sale rep
 
 the place to have this exchange was Birmingham for many reasons Some of these reasons are that Birmingham is the center of the cotton producing belt with the exception of Texas; that 1t is the iron center of the south and there fore the financial and industrial center and the place where all the interests are in harmony in regard to the great prob lem of handling the south's great staple
 List of Those Present.
 John D. Walker of Sparta Ga was elected chairman of the meeting and I. B. Babb was elected secretary. The fol- lowing were present: R. A. Clayton, Bir- mingham; Richard Cheatham, Atlanta B. Dixon Armstrong, Birmingham; W. M Drennen, Birmingham; N. II. Burt, Bir- mingham; w. S. Brown, Jonas Schwab and E. F. Enslen. Birmingham; T. c. Banks president the Attalla bank, Attal- la, Ala; John P. Allison, Concord, N. C.; Charles L. Gay, president Montgom- cry county subdivision of the S. c. A, and member of the national executive committee; w. w. Crawford Birming- ham; John w. Wade, Birmingham; F.. D. Smith, Columbia, S. C., financial agent of the Southern Cotton association; F. A. Gulledge, state financial agent of the Southern Cotton association, Verbena, Ala; Ike Adler. Birmingham; P F. Par ker. state business agent the Farmers Educational and Cooperative union Pell City; E. J. Cook, state secretary and treasurer of the Farmers union, Pell City; w. H. Seymour, president Alabama division Southern Cotton association. Montgomery; J. M IIause, secretary D. Miller, treasurer Slurla Cotton Mill company and secretary and treasurer of the Alabama Cotton Manufacturers as- sociation; J. G. Eubanks, state agent Farmers union for Georgia, Barnesville, Ga; Marvin M Mccall, president Opelika Cotton mills; J. F. Barker, chairman ex- ecutive committee Farmers union; J. William Hawke, secretary and treasurer Coosa Manufacturing company; J. McD. Conner, Birmingham; Robert Jemison, Jr., president Commercial club; Harvie Jor- dan, president Southern Cotton associa- ton; J. c. Collins, Cordova; J. J. David son, Birmingham; Roscoe Mcconnell Birmingham; John S. Turner Brming- ham; Fern Wood Mitchell. Birmingham; W. D. Nesbitt, Birmingham, and w. P. G. Harding. Birmingham.
 Nesbtt Explains Proposition.
 The object of the meeting was explained by W. D. Nesbitt after the officers had been elected. Mr Nesbitt stated that a conference had been held some time ago, at which 1t was decided that the estab- lishment of a cotton exchange to buy and sell warehouse warrants was advis- able, and that the former conference had decided to call this larger conference to put the matter plainly before all per- sons interested and secure an expression of opinion from as many as possible.
 He explained that the system was to deal with the warrants from warehouses which were investigated and found to be reliable, and have a place in Birmingham where the buyer and seller could meet and trade. Quotations could be secured by a leased wire from all the cotton mar kets of the world. At this exchange any one could list any cotton that was stored in a bonded or reputable warehouse. and could sell 1t, either at price fixed by the seller or at the market price,
 He enumerated the many advantages of