The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-09-27
PLAN TO AID FARMERS.
BANKS OFFER no COME TO THE
ASSISTANCE OF THE FARM
ERS OF THE COUNTY.
joint Meeting of Chamber of Com
mercc, Business Men and Farmers
Union Decides Upon Plan Which
Will Enable Farmers to Hold Cot
ton on the Market.

At joint meeting of the Farmers
Union. the Chamber Of Commerce
and the business men Of the city OF
Sumter, which was held Monday after.
noon in the Chamber Of Commerce
hall. rhe plan embodied in the fol-
lowing preamble and resolution was
unanimously adopted:
whereas. the representatives OF
the various banks Of the city of sum
ter have offered to recommend to
their directors that arrangements be
made to secure the sum of half a
million dollars, II 80 much be neces-
sary, for the purpose Of financing the
holding Of cotton, placed in any
bonded warehouse. further agreeing
to take care Of any cotton warehouse
certificates presented at the banks
while such arrangements are being
made:
Resolved. That the thanks of this
meeting be extended to our banks
for their cooperation In this matter,
and that ali farmers, who can, be
urged to hold their cotton without
such assistance. and those unable to
do so be urged to avail themselves of
this offer."
The meeting was called at the re-
quest Of President E. w. Dabbs. of
the State Farmers Union, and i'm
mediately upon Its call to order by
President 8. c. Baker Of the Chamber
of Commerce. II was stated that the
meeting had been called in order to
to formulate some plan whereby
farmers who do business In this city
might be enabled to hold their cot
ton off the market during the pres
ent low prices.
Reports OF the big convention Of
cotton men which had recently met
at Montgomery were made by Messrs
X. 1. Manning. f. W. Dabbs and r.
NJ. Cooper, all Of whom had attend
ed the cotton mems convention. All
or these gentlemen were impressed
with the conservatism which was dis
played at the meeting by the cot
ton men representing the South and
Southwest. Mr.. Cooper went into
details as to how the convention ar
rived at the number Of bales of cot
ton which would be produced this
year. Mr.. r. ]. Manning spoke most
ly Of the plans discussed at the meet.
ing for financing the holding Of cot
ton and the attitude Of the mills dur
Ing the present low prices of cot
ton.
Immediately after these reports
were heard the discussion was turn
ed towards some way to help the
farmers out Of their present trouble,
owing to the low prices Of cotton.
The sentiment Of the meeting was
wholly In sympathy with the farmer
and his efforts to free himself from,
his obligations and at the same time
hold his cotton of the market until
hs could get a better price for II.
plan advocated by Mr.. c. G.
Rowland. President OF the Farmers
Bank and Trust Company. met with
the hearty appreciation Of the body Of
assembled business men and farmers
This plan In brief. was that the banks
Of the city Immediately make some
arrangements through their North
ern correspondents TO get as much
money as was needed to finance the
holding Of cotton. The money OBJ
atined for this purpose TO be
loaned to the farmers at per cent
interest and the banks were to de-
eide upon how much they were will
ling 10 lend on bale OF cotton.
This plan was embodied in a
motion by Mr.. III. l.. Scarborough and
mot with the unanimous approval OF
the meeting.