The Birmingham age-herald., 1911-12-17
FARMERS OPPOSE
 THOMPSO SCHEME Montgomery Farmers Met
 to Consider Matter
DECLINE PROPOSITION
Declare Loan of S25 Bale Would Aid Spinner and Not Southern Farm er-kolb to Recommend
 That State Oppose
By BERRYMAN G. BETTY


 Montgomery, December 16.-tSpecial)- Declaring that the scheme of the Thomp- son syndicate loan of. New York 10 aid the farmers of the south in holding their cotton by making loan of S25 per bale, to be a scheme with the opposite view of mind, that is, of aiding the spinners and not the southern farmer, the mass meet ing of Montgomery county farmers hled Saturday at noon at the auditorium of the business mems league, with the Hon. Reuben Kolb, state commissioner of agri- culture presiding, went on record as not only being against the scheme, but reso- lutions were passed declining the propo- sition in toto and advising all farmers of the south to take a similar action.
 Commissioner Kolb went still further by declaring that he would strongly rec ommend to Governor ONeal that the state of Alabama go on record as op- posed to the scheme, and that he, per- sonaly, would refuse 10 serve as trustee for the state even if the governor fla vored the scheme and appointed him as trustee.
 "When I first heard of the Thompson syndicate loan scheme" said Capt. Kolb, 'I thought perhaps it was a great thing for the farmers, and it was explained to me that money would be loaned on the cotton and the cotton held in the south | intact, not to be put in the channels of trade. I am more enlightened on the subject today, however, for I find that the Thompson syndicate does not intend | to hold the cotton in the south. or any where for that matter but to dispose of it to the spinners, and thereby place 1t
 in the channels of trade. The only thing the Thompson syndicate assures the farmer of is that cotton will not go be- low S25 bale and if you borrow this money from that syndicate, you will be doing well to get the $25.'
 Capt. Kolb was in receipt of details Of the scheme which he read to the mass meeting, causing much laughter and at the same time indignation. It was the concensus of opinion among those present at the meeting Saturday that the pro- moters of the Thompson syndicate had taken the southern farmers for pack of ignorant fools"
 The following was the resolution which was unanimously adopted by the meet ing, on a rising vote: Resolved, by the farmers of Montgomery county, Alabama, in mass meeting assembled, after hearing the details of the Thompson syndicate | loan of S25 per bale, that weArespectfully decline the proposition in toto. and de- | sire to go on record as being bitterly | opposed to the said proposition and ad- vlso all the farmers of the south to take the same action
 1 AnCther resolution was introduced, after a long and interesting discussion on tho subject, looking to the organization of a pool of surplus cotton,' which many ot | those at the meeting Saturday thought was the only feasible solution to the pres- ent problem confronting the farmer of the south. Captain Kolb, who goes to | New Orleans next week to attend a con- | ference of the executive committee of | the Southern Cotton congress which was organized in Montgomery last Septem- Der, was authorized to present this reso- lutior to the committee and urge im- mediate action on forming such a pool.
 It was also suggested and put in the form of a resolution. urging the forma- tion of a pool of surplus cotton of next years crop. That is, that every fifth Dala raised by the farmer in 1912 be pooled, to keep it put of the channels of trade, and thus force the price of the staple up.
 The meeting adjourned to meet again after Captain Kolbs return from the New Orleans meeting. Ii is proposed to hold another rousing mass meeting in Mont gomery an1 10 invite the farmers of the state to attend and take some definite l feasible action that will aid the farmer and help him in his present poor financial 1 condition.
 The question of reduction of acreage was also discussed Saturday, but it was agreed that this has been tried before and l found wanting, for where one farmer will reduce his acreage another will in- crease it. However, it was agreed that all farmers of Alabama, and especially Montgomery county, be appealed to to reduce his cotton acreage next year and plant more of home consumption crops. l