The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1911-11-11
COTTON CONFERENCE.

Permanent Organization Effected and
Plan Adopted for Preventing I'm
profitable Marketing of the
South's Leading Staple.
Says the New Orleans Picayune of
November /:
".The conference of southern gov
ernors and cotton growers came to a
conclusion last evening, and a strong
and comprehensive resolution, or re-
port, dealing with the conditions
brought about by a flooded market
and low prices, was unanimously
adopted. An attempt will be made to
speedily apply the remedies as sug-
gested in the report, remedies which
will aim toward the conservation of
the south's cotton crop and maintain
a fair price for cotton the year
round.
The recommendations in the re-
port are far-reaching and show that
the entire ground was very carefully
gone over Under the provisions the
delegates in the conference call upon
their representatives IN congress TO
amend +he federal crop reporting sys-
TEN, SO that statistics covering cot
ion consumption will be Included; the
conference demands the prosecution
of the bears in the exchanges, who
sell cotton they do not possess, hold
ing that the bears are guilty under
the Sherman act, if the bulls are to
be prosecuted for buying cotton and
advancing its price.
The warehousing system is adVo-
Gated, with the issuance of ware
house receipts that can be readily
negotiated at low interest rates IN
any of the commercial centers of the
world, The governors OF the several
southern states are urged to take the
action necessary to bring ABOUT the
warehouse system.
| The conference recommends that
all unsold cotton be Withdrawn from
the market and disposed of by a
gradual system of marketing. BANK
ers and business men are urged te
cooperate with the farmers in the
withdrawing plan.
Another important recommendation
| is to reduce the acreage of l9l2 II
per cent below the acreage or I9ll
and the conference calls upon con
| gress, in the event that congress en-
acts any legislation for emergency
currency based on commercial pape,
i underWritten by banks,#to include II
i such emergency currency eommerc1a
paper representing transactions =
i cotton, cotton goods and ot1er ma ls5ll1 =
zIufactured products.
4 The conference pledges the utIlios
1 of its power in obtaining for the PFC
i ducers Of cotton and all other crops
farm. forest and mine products,
4 fair return upon Investment and
4 fair reward for labor, and protest
against the policy OF sacr1flclng IN
producer.
In conclusion, permanent organ
ization IS recommended. 3,
The proposition to finance the VII
drawal of 100000 bales from IN
market W S generally discussed, an
while it was admitted that the pla
would be looked into and brougf
TO something like definite shape
4 The executive committee, the detail
were kept very close.
| II was not denied, however, tfls
| English !. capital was back OF Ih
scheme. and that several promlael
/ bun operators were working to p'
u through. One of the prominent vi
/ tors stated to a reporter that. ne y
1 derstood the cotton was to pc u
! uisi1ed spinners ard futures SO
| AGAINST it, but Governor Colquitt lat
/ denied that such was the case.
: aThe plan is simply this SAID Il
governor. ttrWo million balss w
81 withdrawn from the market, G
rather, the funds necessary to imam
this operation will be fortheofe.tl I
Just who is putting up the money
cannot say at this time, but q
willing 10 admit that / think the pls
will go through. 4.
The conference vas called by y
ernor Colquitt of Texas, and Ne
~ Orleans was chosen as the place :
" meeting because of its central los
tion. All the governors of the sou1
ern states were invited to after
] but besides Governor Sanders OF Le
j isiana and Governor Colqultt OF Ie
4 as, only three governors We're. aole-
4 make the journey to New Orleans
I Governor Mann of Virginia, Govern
Noel of Mississippi, and Govern
\ O'Neal of Alabama.
I The several governors and all I
"a delegates expressed themselves
I well satisfied with the results, g
n all were unanimous in declaring
n belief that great things would gf
4 from the deliberations and the
\ tive work of the executive &C
/ mittee.
y Tax Election Called.