The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1909-07-06

under this pledge When the CAM +
p2ign for pooling is completed, about
the middle of September, the stub
books and the white and yello ~ books
will be turned into the headquarters
or the Burley Tobacco Society at Win
chester, and the clerical force will
compile the data, giving the total {
number of acres under cultivation, the
number pledged and the number not
pledged. The board will then meet,
and if in it's opinion a sufficient pro-
portion of the crop has been pledged
a pool will be declared, and from the
proceeds Of the tobacco so pooled 10
per cent will be retained by the Bur-
ley Tobacco Soc ETY., for the capltll-
zation of the Burley Tobacco Company
each grower in pool receiving stock in
this company in lieu of the 10 per cent
of his crop so withheld.
CHANGES IN THE CONTRACT.
It will be observed that it is not
specified in the contract that any per
centage of the total crop of this year
must be pledged before pool can be
declared. This matter, unlike the
pledge of 1907, is left to the discretion
of the board. 1t will be further observ.
ed that the price per pound at which
the tobacco must be sold is not fixed in
the contract, as it was in the contract
of 1907. when it was specified that it
should not be lower than Is cents. One
of the purposes in leaving this unstated
is to enable the Burley Tobacco Com
pany, if organized, as it will be II
pool is announced, to sell the tobacco at
auction in open competition and under
whatever terms or restrictions its Off
GERS may choose to impose. 1t was ar
gued also in the discussion Of Wednes-
day and Tuesday that had not this 10
cent per pound clause been in the pre-
vious contl acts the 1906 pooled tobacco
could,have been.sold more than a year
before it was finally disposed of for an
average OF about y cents per pound,
which would not have necessltated the
paying of storage. insurance anG ether
fees for an extended period.
In the course of the discussion We'd
nesday it was shown by President lie
Bus that if the crop this year is pooled
and the Burley Tobacco Company is
created, a uniform rate for rehandling,
redrying and prizing at actual cost to
! the growers is possible; that 1t will Go
away with the profit now going into
the pockets of the warhehOusemen. that
the company will be able to carry its
own insurance and that the growers
will not have to pay as much for the
sale of their tobacco as they are now
paying on the floors of the warehouses.
He said that the profit accruing to
the company otherwise the growers
ON these features alone would amount
! to 81, 800. 600 in the handling and sale
of $50, 600 hogsheads of tobacco.
LESS OPPOSITION MANIFESTED.
No such opposition was manifested
/ in the speech of MIR. Renick, of Clark
county, Tuesday, was shown in the ad-
dresses, of the various representatives,
as the call for reports by counties pro-
ceeded Wednesday morning. The ma
iority Of the representatives expressed
! themselves as satisfied that under the
contracts as read they would have lit
! tie trouble in pledging the bulk Of the
crop in their various counties. The
representative from Carroll county said
/ that it would be easy for him; that he
had already demonstrated to the grow
ers of his county the practicability OF
this plan that he had IN 1906 formed
company of growers, who had pooled
their tobacco for the purpose of luild-
ing warehouse for storage and re-
handling; that no member was permit
ted to take over 81, SEQ worth of stock,
and no person who had not pooled his
TOBACCO was admitted to membership
that the first year they had a profit OF
100 per cent on their investment, and
that the next year they had about the
same, SO they decided that since they
had paid for their property i'll the first
year they would take only 10 per cent
of the profit and give the reminder to
the Burley TobaccOSociety to be used in
its fight against the American Tobacco
Company.
To sum up the discussion of this sub
ject throughout the two days it is
evident that the element in the organi-
cation who believed that the salary paid
President LeBus and the fee contingent
upon the accomplishment of a pool
this year, and the creation of the Bur-
ley Tobacco Company is exorbitant is
decidedly in the minority. 1t is like
wise apparent that the majority of
the members of the District Board are
not of the opinion that the proposal to
pool the crop this year will fail through
to the officials and employees of the
Burley TOBACCO Society.
MAJORITY IS WITH LEBUS.
The LeBus following in the organi-
nation is decidedly in the majority, and
at the close of the meeting Wednesday
it was apparent that the greatest num-
Der have implicit confidence in his
leadership, and they expressed the
opinion that on October l poll wocld
be declared. Before the contract was
adopted Attorneys D. l.. Pendleton, of
Winchester and Thomas E. E. Eden,
of Frankfort, explained the legal
points of the document, and said that
it was entirely safe. The contract,
they explained, if pool is declared on
October /, stands until the tobacco so
pledged is sold. If no pool is declared,
the signer of each contract will go to
the bank in his county in which the pa
DER has been deposited, get it and tear
it up. r-e ,-. . .-.--.
The District Board decided to pur-
chase tho 3 600 hncSheads of tobacco