The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1911-06-13
ENGLISH SPINNERS Buy
COTTON LAND ON THE
MISSISSIPPI

greatly assisting its general working. |
think it Is necessary to bear this fact in
mind in case you wish to compare the
balance sheet Of other Independent a.so-
Citations with our own. Then another item
with regard TO which l sould like to say
one word IS that of stock in trade. cot
ton, yarn and stores, which figure this
year in the balance sheet at FL, 9S9, 512.
That shows an increase on the CORES
pOndIng Item a year ago of some f139 600.
AS you will have gathered from your
circular, the bulk Of the fs75,000 which
We expect to receive from the new stock
issue will be devoted to the purchase of
f60O, 600 worth of 5 per cent frs mort
gage gold bonds in two American cotton
plantation companies. One-half the pur-
chase Is In the Triumph Plantation Com
pany and the other half is in the Lake
VISTA Plantation Company, and in addi-
ton to acquiring f6OO,OO worth of those
5 per cent first mortgage gold bonds, we
propose to acquire a controlling interest
In the common stock Of both companies.
This, of course, is a new departure for
this association to take, and this new de-
interest up and down the country, and
If this be carried out-indeed it is not
p~roblematical at all, for it has already
been carried out-we now have control
of two large cotton estates in the Mis-
sissippi Delta. amounting to some $1,000
acres.
great difficulty in obtaining a special
kind of long staple American cotton. We
require a special kind of cotton for a
particular branch of our business where
formity Of staple are absolutely essential.
and year by year we have had increasing
difficulty in satisfying our requirements
in regard to this staple, and we have had
to pay prices proportionately prohibit
tive. After the most searching investfga-
ton on the spot by our vice president,
or, Herbert Dixon. both went 4 short time
ago over to the United States of America
and examined into the details of the scheme
on the spot. They returned perfectly sat
isfied with the desirability of proceed
ing with the proposal. They were salts
fled and convinced first that the land that
we were acquiring was Of the finest pos
sible description for our purpose; sec
ond. that it was thoroughly we'll adapted
for growing a great quantity of cotton
which we had had trouble in obtaining
for several years past: third. that the
management was in exceptionally capable
hands; fourth. that from the very outset
of the acquisition Of these properties the
undertaking would be so far as we can
Judge a profitable undertaking.
TT is not a matter of speculation, a
matter Of conjecture, a matter of doubt.
kind Of cotton that we require, and under
our management and control they can be
made to conform even more exactly TO
the requirements at which we aim. This
therefore,, gentlemen, is no pioneer of
speculative proposal. This is no case of
embarking on a great experiment: no ex-
Dor1mental opening Up OF laHu WHICH may
or may not ultimately successfully grow
the particular kind Of cotton Of which
we stand in need. On the contrary, we
are buying the richest possible assured naea
in view. But then, of course we know, be-
cause Of the large increase there has been
in spindleage within the last five years
an increase greatly in excess of the la
creased acreage Of cotton which has been
planted in the world-we know that many
hold the opinion that during the next
Fo,,, Of " rn%n III cd u I orr Will
be on the side of the cotton grower rath-
er than on the side Of the cotton spinner,
that is, until the supply of cotton is far
more abundant and is fully equal to the
demand; and II that should be so-f the
advantage in the next few years is. as
some say, likely to lie with the cotton
grower, then your directors don't want
you, the shareholders in this association,
to be entirely prevented from sharing in
this advantage
Mr.. Mcconnell said: Perhaps it may
about our experiences in America and
about our consideration Of these large
investments in cotton lands: at the same
time your lordship has really covered the
whole Of the ground that | should wish
to have put before the shareholders OF
the Fine Spinners. There was first the
chase, which was to grow a particular
kind of cotton which at present is only
grown in that one particular part of the
world-as a matter Of fact. as far as my
growing cotton goes, it may be stated al
most as a principle that any particular
kind Of cotton which is available for
satisfactory use depends upon one par
ticular place in the world to grow it..
apparently it is almost impossible to
take any particular kind of cotton from
one country and make it grow we'll in
another, and it appears to be a law OF
nature that cotton to be grown sat1sfac-
torily has to be developed in a particu
lar climate and a particular soil. While
therefore, we have in no way any objec-
ton to experiments being made all over
the world-we approve Of them most
heartily, and We do our part in subscrib-