Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1908-03-26
THOUSANDS
OF BALES
Happy Solution OF Trouble Between
Farmers Union and Cotton Buyers
by Arkansas People.


ARKANSAS Cotton to Be Handled
BY Arkansas People.
At last the trouble between the
Farmers Union Of Arkansas and the
cotton buyers has been satisfactorily
settled and Arkansas cotton is to be
financed by Arkansas banks and ham
died by Arkansas buyers, says the
Little Rock Democrat. This is as It
should be, and is the result OF the
investigation conducted by Max Hell
man. chairman OF the Board OF Trade
special committee. appointed at the
suggestion of Judge Jacob Trleber OF
the United States court.
The following correspondence show
ing how the proposition was worked
out was reported to the Board OF
Trade by Cashier George w. Rogers
of the Bank of Commerce:
memphis, Tenn, March 30, 1905
Bank of Commerce, Little Rock, Ark:
Gentlemen-As you doubtless know,
this company is receiving great
deal of cotton from your State, which
has caused some dissatisfaction to the
business men of your community, who
feel that your city should handle
the cotton of Arkansas. We write
to say that this company has no war
against Little Rock Or any other COM
hIlC i n
enterprise of the Farmers Union, Or
ganized for the purpose OF advan-
tageously handling the product OF its
members. We recognize the strength
of the sentimental side OF the ques-
ton of handling cotton through your
city, as we'll as its business possibill-
ties. and write to ask if you gentle
men would advance money on cotton
| to be stored and handled through
Little Rock. If You are disposed to-
do so, please give us the terms upon
which you would make advances. we
believe from the information at hand
it would be something like 5000
ibales. On most of this the owners
would want advances ranging from
$25 to $40 per bale, the amount de-
pending upon the owners necessities
and the weight and grade OF the cot
ton. Yours truly,
THE FARMERS UNION COTTON
COMPANY.
by G. B. WEST, General Manager.
Little Rock, March "a, 19OS.-B.
G. West. General Manager Farmers,
Union Cotton Co., Memphis, Tenn: My
Dear Sir-I have Your favor OF March
| 20. which would have been answered
earlier. but | wished to go thoroughly
into this matter before writing YOU.
At this particular time this bank
would not care to carry loan on y
OO0 bales of cotton. | have therefore
taken the matter up With the German
National Bank and the Echange Ma
tional Bank of this city They request
me to say for them. as well as for
this bank, that We would be glad to
make a loan to the Farmers Union
Cotton Company on collateral Oh cot
ton in a reasonable amount not to eN-
coed $40 per bale, provided the mar
ket would justify that large loan,
cotton to be stored in Little Rock
warehouse and insured. interest al the
rate of per cent per annum. UNI
derstand that this is exactly the ar
rangement YOU have in Memphis, We
| feel that the banks of Little Rock are
amply able to finance any Arkansas
cotton. and would be glad if your
COMPANY could see its way clear to
store and finance the Arkansas cotton
! in Arkansas While am only writ
ing You covering what the German
National Bank. the Exchange Natiola.
Bank and the Bank OF Comnetce
would do for You in this line. slitl
we have number OF other banks N
this city. and believe they would al.
gladly cooperate and take their por-
ton of the loan.
"Assurins YOU that it vi be |
pleasure to serve you. am, youes
truly,
GEO, W. ROGERS, Cashier.