The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1909-09-01
Advantages of Commngling, and the Formation of a
Company to Handle, Finance and Insure the
Crops Set Out and Features Outlined.

nation to the bumpers and buyers to
enable them to sell their tobacco ut
prices that would create dissatisfac-
ton to the pooler.
Az to Omission OF Percentage.
Fifth: No percentage Is fixed IN
this pledge at which the pool shall be
come final. This clause. which was
In the former pledges, was omitted be-
cause the board we're not sufficiently
informed as to the extent of this years
crop of hurley tobacco to intelligently
fix a percentage. An unusually large
crop is planted. Many counties report
a shortage on account of weather con-
ditions. The larger the crop the
greater the percentage Of the pool
should be. The tobacco outside OF the
pool. will furnish the ammunition to
the trust. II the crop is small the
factories will need It all; II II IS large
they may run on with a reasonable
percentage for a time sufficient to
break down the pool.
October VIII Bring Verdict.
The board will, between now and
the first day OF October, have time 10
investigate and will secure informa-
ton as to the extent of the hurley to-
Ibacco produced outside of this district.
At the time the pledge was adopted
they had no such information except
by rumor. They will also have exact
and accurate information as to all thu
tobacco unpooled III this district.
When this information is collected
they will know what percentage to fix,
but this board will declare the pool
off by October /, unless thy are per-
E hot
tobacco pooled 10 insure success.
viii Finance Own Tobacco.
Sixth: This pledge requires 10 per
cent of the proceeds of the sale 10 De
taken by the grower in stock in the
hurley Tobacco Company to be or
gained. This will be corporation
in which every grower has stock equal
Ito 10 per cent of the proceeds OF MS
jsales. This VIII make strong man.
cial company that will be able to take
care Of the handling, storing, insur'
ling inspecting and financing OF the
1909 crop.
Heretofore the Society has not been
able to protect the grower in the mat
ter Of insurance, financing or caring
for the crop pledged to 1t, as the So.
ciety has no capital stock or financial
standing.
Insurance In His Own Hands.
Insurance has been left to regular
insurance companies that were in a
position to cancel their insurance at
iany time and destroy the value OF
the warehouse receipts on the grow
ers' tobacco, and break up the pool
Tho board does not consider 1t safe
to leave such an important matter In
! the hands of strangers, who may be In
fuenced by the enemy.
The financing of the crop Is even
more essential In 1906 and 1907, in
come counties the pool was almost
broken up and badly crippled by
reason of the inability Of the counties
to take care of the financing, and the
crop in one county was entirely lost to
the pool on this account.
Uniformity Necessity.
A uniform system of handling the
cron is found to be absolutely essential
Many counties have been unable tc
properly handle the crop and some
counties were kept out OF the pool on
this account that otherwise would have
Ipooled their tobacco. There was nc
uniformity whatever In the handing
lof the 1906 and 1907 crops.
Company Means Great Saving.
All of these objects can be &C
complished by the formation of this
company with capital and strong fnan
cial standing and the growers can o'
saved many hundreds of thousands o
dollars by this ten per cent clause
The certificates of stock which eacl
grower holds In this company will
have a money value with any banl
which will assist him. also, in securing
funds to enable him to carry on hi
business. This stock will also pa!
good dividends to the stockholders
And this board recommends this stool
should be non-transferable unless |
two-thirds vote In that county advise
otherwise. ~,