Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-09-14
COTTON CROP.
o-English Syndicate
Offer to Finance Same.
Guarantee Any Amount Of Money
Up 10 S75,O0O,OOO.
Estimate of This Years Crop Is
i2,500,000 Bales.

Montgomery, Ala, Sept. f3.-Presi-
dent Charles S. Barrett Of the Nation
al Farmers Union announced at the
Southern Cotton Growers convention
that Franco English syndicate has
guaranteed any amount of money up
10 $75,006600 toward financing the
South's cotton crop. Mr. Barrett to-
day will name committee to perfect
such q plan.
Mr. Barrett said that personal rep
resentatiVe Of the franeo-EHelish syn
dictate was. ready to confer With the
committee and thai .le would name a
committee Of three members, one a
Southern banker and the other two
members Of the Farmers Union The
syndicate Is said to have aereed to
loan the h4aHcy at per cent. the cot
Ton 10 hr. rstt 10 as collateral.
THIS ia ieieta, a7veratdent be
mefat. &c. .sef ~ the Cotton Growers
convention 80 discontinue issuing ali
crop and acreage reports was the
made ia paper on
The Science If Marketing Cotton
submitted b. y. r IiackWtil Of Dallas
Tex, TO-DAY Mr.. ElaekWeli also rec
omaended hat the ginning reports he
ing suppressed if the government can
not intnfae in them accurate figures
on stocks u cotton in sHnnfrs ware
houses.
Estimates Of this years cotton crop
recommended rs the COMMITTEES on sta
tlsties and adopted by the Southern
Cotton Growers convention today. is
approximately 12,a01, aa4 bales.
This estimate was reached on figures
presented - the committee at call
of states IN figures furnished bx the
National Farmers Union from its re-
cent convention at Shawnee, Okla,
on the call of states. the estimate
arrived at reached only 11.217,1oo
baIes The estimate Of the Farmers
Union at Shawnee was Il, $4,000 bales
and revised estimates by President
Barrett was 12,052000 bales. An aver
age was made of these estimates and
a percentage added for increased acre
age, improved conditions, etc.
Five hundred cotton growers and
as many bankers. congressman, Unit
ell states senators and business men,
representing every cotton growing
state in America, attended the con-
Ventien. Trey declared that farmers
cotton is worth - cents pound ard
resolved that The farmer should hold
his cotton for that price The rese-
luton followed the committee report
that the crop in America would not
exceed 12.5eG, eco bales.
Fer financing the crop of this year,
a resolution was adopted directing
that the farmer deposit his cotton in
warehouse and use his receipt as
collateral until BE could sch sis
croE ut not less than Is cents. There
WAS also nassed 6 resolution that
the several states Legislatures pro,
vide q system Of bonded warehouses.
Tho convention then resolved itself in
to permanent organization to be
known as the southern Cotton Con-
gress and adjourned to meet in At
lanta at tho call of the president, ~.
J. Watson. commissioner of agricul-
ture Of South Carolina.
The meeting in Montgomery is to be
followed by - similar convention in
every Southern state to be called oy
the commissioner of agriculture or
each state to be called by tine commits
sioncf of agriculture of each state. By
these conventions the action of the
congress Is e. lie ratified asd rsin-
forced IN further steps toward the
emf nf ae curing 81 better price for cot
ton in h lGtuIe