Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1910-06-09
SULLY AIMS To
LEAD THE WORLD
Tells How He Will Establish Cot
ton Warehouses and Fast
Working Gin.

New York, June MY avowcd amhl-
ton is to he the foremost cotton man in
tho world" said Daniel j. Sully, Just back
rom London, after successfully floating
ils farmer certificate and revolution
Try cotton gin" schemes.
Suly brought with him the financial
packing Of a big British syndicate for the
promotion of the American Cotton Secu-
rites company, which Ia to establish
chain of warehouses all over tho South,
and exploit the Doremus machine, which
It Is claimed. will gin cotton faster than
anything in use.
sully called upon President John Hays
Hammond of tho securities company, at
his Broadway Offices, and reported his
dealings with the I. Hirsch and other
English houses which are said to have
pledged all the millions necessary.
TO STOP ENORMOUS WASTE.
"Our enterprise, willie planned prir1ar-
ily TO make money" observed Sully, is
also philanthrcp!c- 1t Is intended to pro
tect the cotton farmer by the issue of
guarantee certificates negotiable all over
the world and to stop the enormous waste
by new processes OF ginning md ware
housing. over q year ago l advocated,
In ON article IN the Cosmopolitan.
graduated governmental subsidy on cot
ton, together with chain Of bonded
warehouses issuing receipts which would
insure the stability Of the cotton market
Economically controlled cotton would
make financial depressions and panics In
the United States impossible, The gov
eminent does not seem to take kindly to
A1, u, lad IN
try II ourselves.
I'm the progress of hts cotton from field
TO market. tho owner is compelled to SUI
fer loss which could and should be
avoided
HOW WAREHOUSE PLAN WILL
WORK
ITO keep this stupendous yield from
FALLING into the hands Of manipulators,
re will establish a chain of warehouses
where growers can store their surplus
We will issue certificate, showing the
lumber, grade, weight and marks on the
,ptton. These certificates are to me made
Nchangeable In any part of the world
1t the prevailing price of cotton on III,
2ay the owner desires TO sell.
To-day the southern cotton farme,
HluSt t'ike MS crop 10 tUe nearest mar
iet, and sell at the best price possible
Under our plan, he can obtain ware
house certificates which he may deposi
at his local bank. which could re-dis
rount them in New York or European
centers. The grower, instead of parting
with his whole crop at a sacrifice coul,
borrow enough on his certificates to pa,
his debts and still remain d factor IL
the cotton world.
GREAT ECONOMY IN NEW GIN.
Again, our object Is to conserve tn
cotton crops The annual waste on
100000 bale crop would be 100000,
coo This can he almost. II not wholly
stopped by the proposed chain of ware
houses and the new ginning process
With the old Whitney plan, which cam
Into being III years ago. we can gin onl
800 pounds of cotton per hour Th
Doremus machine occupies only one
third of the space and will produce I
the same time 400 pounds of cottor
The operation of this gin will revolu
tionize the cotton industry and wor
vast economies, the profits of whic
VIII go to the grower and spinner"
Mr.. Sully added that his company ha
been capitalized at $40, 10000, with a r,
serve of s2,5 100 and that foreign an
American backing to an unlimited amour
is assured