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 at
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 were 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
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 It Is large
they may run on with a reasonable
percentage for a time sufficient to
break down the pool.
October VIII Bring Verdict.
Tho board will. between now and
the first day of October. have time to
investigate and will secure informa-
ton as to the extent of the hurley to-
bacco 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 they are per-
fectly satisfied that they have enough
tobacco pooled TO insure success.
VIII Finance Own Tobacco.
Sixth: This pledge requires 10 per
cent Of the proceeds of the sale to be
taken by the grower in stock in the
Burnley Tobacco Company to be or
ganized. This will be a corporation
in which every grower has stock equal
to 10 per cent of the proceeds of his
sales. This will make a strong finan-
cial company that will be able to take
care of the handling, storing, insur-
ing. 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 hnanclal
standing.
Insurance In His Own Hands.
Insurance has been left to regular
insurance companies that were in
position to cancel their insurance at
any time, and destroy the value or
the warehouse receipts on the grow
ers' tobacco, and break up the pool.
The board does not consider u sale
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
some 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 to
properly handle the crop and some
counties were kept out OF the pool on
this account that otherwise would have
pooled their tobacco. There was no
uniformity whatever in the handing
! of the 1906 and 1907 crops.
Company Means Great Saving.
| All of these objects can be ac'
complished by the formation Of this
company with capital and strong inan'
cial standing and the growers can be
saved many hundreds of thousands of
dollars by this ten per cent clause
The certificates of stock which each
grower holds in this company will
have a money value with any bank
which will assist him. also, in securing
funds to enable him to carry on his
business. This stock will also pay
good dividends to the stockholders.
And this board recommends this stock
should be non-transferable unless a
twothirds vote In that county advises
otherwise