The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-11-11
HaUie Jordan Says This Is One
Solution Of Problem
MANY At MEMPHIS MEETING
Delegates From Seven Southern States
Assemble to Discuss Cotton Financ-
ing and How to Advance
Price of the Staple.

Memphis November 10.-Seven south
ern states were represented at the
opening session today of the confer
ence of growers, merchants and others
whose interests are allied with the
growth and marketing of cotton, called
by President Harvie Jordan of the
Southern Cotton Growers association,
to discuss the present downward ten
dency of the spot price or the staple
and the recent spread of the opera
tions of so-called might riders and
agree to measures as well act as a
remedy to present conditions.
The keynote of the conference, as
brought out in the several addresses
and discussion today, is that the dele
gates are strongly in favor of holding
back the balance of the present cot
ton crop, marketing it gradually from
month to month, thereby hoping to en-
nance the price. Resolutions to this
effect have been submitted to the prop
er committee.
Mr. Jordan, in his address. urged
~ CenlS DIS the PAiNO ~
which the present crop should be mar
keted and declared that by concert of
action the price could be forced to this
figure before the close of November.
He advocated the formation of chain
of warehouses, whose receipts would
be accepted as collateral for short time
loans. He denounced might riding
and urged the adoption of resolutions
condemning all forms of lawlessness.
The conference will be in session for
three days. The report of the commit
tee on resolutions will probably be
presented tomorrow afternoon.
Jordan's Address.
Mr.. Jordan said it was indeed fitting
that lis great cotton conference should
be assembled in this, the largest in
terror cotton market in the world.
I'VE have assembled here for pur-
pose which should appeal to the hearts
and minds of every loyal and practical
southerner. That purpose is to safe
guard and protect the staple crop of
the south from the artificial and de-
pressing influences of federated inter-
ests which operate beyond the confines
of our territory to the detriment of
every business interest in this section
of America We are face to face with
II StliOuS CDllthllul anu WiiNtHtA -
will arise equal to the emergency and
protect our interests as men of brain
and business sagacity or whether we
will indifferently accept the situation
and parade before the world our vol
untary weakness is the issue which
presents itself to this conventions"
Mr. Jordan said that raw cotton is
the only great staple commodity in the
world today which is selling below the
cost of production notwithstanding the
fact tlat it represents one of the world .
Creates necessities.
"Tlat this great staple should ever
sell at d price to the cotton growers
at isss than 10 cents per pound is a
reflection upon manhood and injustice
of the southern people.
"lf the cotton growers. bankers, mer-
chants ana allied business interests Of
the south will determine that the price
of cotton must and shall go back to
10 cents before the month of Novembr
passes that price will be paid, the fl
nancial future of the south will be saved
and not a spindle in the world will be
injured
Mr.. Jordan condemned night riding in
strong terms. "The very thought of
might riding . he declared. "or the post
ing of gins should have no place in the
minds or hearts of civilized people.
The ginners of the south are in no way
responsible for the low price of cotton.
They should not be made the sufferers.
because they simply provide the medium
through which raw cotton Is converted
into commercial form.
Boil WeeviI Menace.
President Jordan called the attention
of the convention to the boil weevil
menace and stated that If the march
OF this insect was not stayed the prob
lem of solving the cotton production
would be a matter for the gravest doubt
and uncertainty
Mr. .tclcan recommended the formation
of a chain of warehouses at the leading in
terror market points and at the ports
where cotton can be stored and insured
and receipts issued against it, which
will be acceptable as gilt edged collat-
eral for short time loans by all the
leading financial institutions in this coun-
try and in Europe. He also recommended
the establishment In the south of GEN.
tralized cotton bank with sufficient cap
ital to make 1t the annual clearing house
for The cotton crop during the selling
season and the medium Of cheap loans
|, through the spring and growing season.
Hs also called attention to the imper-
atiye necessity of a reform in the gin
Ming, ballng and handling of spot cot
ton, claiming that by indifference in this
matter the cotton growers are annually
losing millions of dollars.