The herald and news. [volume] (Newberry S.C.) 1903-1937, 1911-09-26
NO COTTON TO Be SOLD
FOR LESS THAN "a CENTS
MASS MEETING OF FARMERS OF
NEWBERRY 50 DECLARE.
That Price Minimum to November u
Sentiment Strong in FafGr Hold.
ing for Higher pee.

udH " COESIuel Tie price VI COllOll dAC
to see if by counseling together some
thing could be accomplished.
The meeting was held in response
to call issued by Mr.. E. J. Watson,
commissioner Of agriculture, end also
b.. the Farmers union. These meet
ings are called in accordance with
plans made at recent convention of
cotton growers held in Birmingham
and the purpose of the meeting was
not only to discuss the situation, but
to elect delegates to the State conven-
ton, which is to be held in Columbia
on the 2Sth.
The farmers, as we'll as other men
present were very much interested
and very much in earnest. On the
resolutions to test their sincerity about
go per cent. of the farmers present
agreed to hold their cotton off the mar
ket at least until the 18th of NOvem-
Der if prices remained below IA cents.
Mr.. R II. C.. Hunter was elected
chairman; A. D. Hudson secretary and
treasurer.
Mr.. Alan Johnstone spoke for half
an hour or more reviewing the whole
cotton situation and he concluded by
suggesting that it must be a Southern
movement combining all Southern in
terests.
Mr.. John C. Neel had been thinking
about the price of cotton a good deal
this fall. He said that the price had
declined cents in three months, an
average of cents per month. The
main question, as he saw it, was how
to keep this price up ard what scheme
was it proposed to adopt. He thought
that if each farmer in the cotton belt
would put aside one-fourth of his cot
ton that the price could be kept un-
der the control of the farmers.
Mr.. John M. Kinard, representing
his bank, stated he believed that the
position taken by him would be. en-
dorsed by the majority of the banks OF
South Carolina, and speaking for these
banks, he was satisfied they would he
willing to loan money On cotton at Z
per cent. per annum. He stated that
cotton was the best collateral that he
knew of, and that he was interested
in a good price for cotton because it
meant a good balance in the banks.
1t was also stated snat the Bank of
Prosperity was willing to cooperate
with the farmers.
DR.. W. C. Brown stated that it was
useless to elect delegates unless we
had some plan, some definite plan to
carry to the State convention.
Mr.. John C. Neel asked Mr.. Kinard
if he would only lend on cotton if it
were in the warehouse. Mr.. Kinard
replied that he frequently loaned be-
fore cotton was grown, which, OF
course, meant that a good deal de-
pended on the person desiring the
loan. He could not lend except on
bankable collaterals.
Mr.. W. A. McSwain stated that his
company was prepared to insure cot
ton for the farmer in bales or in SEED
on a basis rate of! 8 IL per cents per
annum, where there was no fire pro-
lection and he would insure it for its
full cash value.
Mr.. John NJ. Suber stated that most
every man can get money on his COT
ton and he thought each one would
have to work out the details of secur-
ing his money for himself. The ques-
tion for the convention was how much
cotton can. we keep off the market.
What is the sentiment of those present
as to withholding cotton from the mar
ket.
It was at this suggestion that the
resolution was adopted by practical
" unanimous vote of the farmers
present to keep off the market until
November IS any cotton at less price
than IA cents.
The following delegates were elect
Cd to the convention 70 be held in CO.
]umbia on the 2Sth. The CHAIRMAN
was authorized to fill any vacancies:
W. C. Brown, John NJ. suber' A. D.
Hudson, G. Y. Hunter, Jas. MCINTOSH
John NJ. Kinard, 3. G. Matthew's Alan
,Johnstone and S. J. kohn.
Election at Chappells.
The municipal election which was