The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-12-20

Columbia, Dec. IA statement
issued late this afternoon by Com
missioner f. j. Watson, in the matter
Of the appointment of three Trustees
for this State to handle the loan Of
$b0,000,000, rendered by group Of
New York bankers to finance the, cot
ton holding campaign. goes into the
matter in detail and sums up die
whole situation also gives his posi-
ton on the status Of the whole cot
ton fight. The statement follows:
I'm regard to the matter Of the
appointment Of trustees at the re-
quest OF the proposers Of the loan for
the handling of Southern cotton,
have tried to make it clear to the
public that I was willing to accede
to this request only in so far as to
name three men of the highest char
acter and standing that I could find
In the State. regardless Of whether or
not they were opposed to or in favor
Of the proposition submitted, but
with the idea that they were to be a
kind Of protectorate for those citi-
zens Of the State who cared to deal
with the New York syndicate.
ut will be some time next week,
very probably before any definite an
nouncement Of the appointment Of
trustees will be made. / have only
mentioned the matter to six men
whom I have in mind. asking each of
them If they felt that acting on such
board would affect them either in
business way or politically, to de-
cline Immediately to even consider
the matter. There has been one de-
clination to serve for reasons that have
been given the public. One other has
declined for purely personal reasons.
third that I had in mind shall
not ask to serve. I have, however,
settled upon three of the most prom
inent men In the State, of the highest
business and personal integrity and
intelligence, who are Identified with
the banking business and the farm
ing interest of the State. and this af-
ternoon I have been In conference
with them, explaining to them
thoroughly my position. as president
Of the Southern Cotton Congress. IN
merely being the medium through
which this proposition has beep con-
veyed 20 our people in accordance
with the instructions given TO me at
Montgomery.
Il have urged them. however be-
fore the final acceptance Of the ap-
pofntment to thoroughly investigate
every detail Of this proposed plan for
themselves, availing themselves of
every source Of first hand information
and as result of the conference this
afternoon. one Of their number, who
is going to the east on 6. business trip,
has undertaken to make such investi-
cation for all Of them. If he is not
satisfied as to the proposition itself,
and as to the men who are making it,
and as to the measure Of response
bility the trustees will bear, have
requested him to so advise the others
and myself. and the committee will
not be appointed. In other words in
view Of the present apprehensiveness
OF the people over a proposition Of
such magnitude, We have seen fit to
take every possible precaution, SO far
as the producing masses in the State
Of South Carolina are concerned. That
Is the way the thing stands In this
State.
Il wish to reiterate what ] have
said dozen times already, and to do
so in the most emphatic manner, that
/ have not assumed TO father any one
Of the thousands or more plans for
marketing the cotton crop Of the
South, but I have insisted upon every
one Of them possessing apparent
Hiciit peiiiS given 10 the puDuC as
clearly and distinctly as possible.
With the big crop staring us in the
face, and now actually counted, it
| has been my hope that something
looking to the proper care of the next
crop would develop from some Of
them. The successive steps that have
been taken In New York and else
where have admittedly been the
| means Of steadying the cotton market
thus far and the step we are now
! about to take, at New Orleans, holds
the foundation key to any plan that
| any man might suggest, and 1 believe
1t will further steady the market.