Bryan daily eagle and pilot. [volume] (Bryan, Tex.) 1909-1918, 1912-07-15
FIFTEEN CENTS FOR
1872 COTTON CROP

Brazos county completely organized
makes sixty counties in Texas and
nine states in the south organized
with the Southern States Cotton Cor
poration, to handle the 1912 cotton
crop.
No proposition today Is of greater
Importance to the bankers, merch-
ants, farmers and business interests
| generally, than that of marketing the
cotton crop, SO that the producer oil
the raw material can realize profit
above the actual cost Of production
This problem has ben studied for
the past 20 years, and today the South
is just awakening to the fact that
they can market their cotton in a
sane and business like way by the
ducers in one great system or ex.
change going direct from the grower
to the spinner
This plan has been formulated by
Southern men in the form of the
Southern States Cotton Corporation,
which provides a way for the farm
ers themselves to take care of the
surplus or distressed cotton in the
form of an investment. The plan,
while it appears startling in its sim.
plicity can be and will be carried to
a successful operation by the coop
Grafton of every one who is wholly
or largely dependent upon the cot.
ton as the money product of the
South.
The Plan and Organization Of the
Corporation:
The plan is to pay 15c per pound,
basis middling, for cotton at each
shipping point, payment to be made
as follows-all the price of 15c in
ninety days script bearing per cent
interest, or if the owner prefers lie
will be paid in currency, and &c per
pound paid in ninety days script,
bering 6 per cent interest. The con-
tract between the corporation and
the owner of cotton under which this
price is paid calls for the payment
of $110 in cash per bale by the owner
the liability for further expenses for
the owner or farmer ceases, and the
corporation assumes and will pay all
charges from the delivery point to
the mills.
Organizations:
LIST. A general office to be located
in one of the Southern States and
to be a clearing house through which
the various State offices clear their
business.
End. A State general office in
each of the cotton growing States
through which the business of that
particular State will pass.
3rd. A County Committee consist
ing of six citizens of each cotton
growing county.
4th. Fifty directors to be select.
ed and elected by the stock holders,
each State being entitled to its pro.
portionate number of these directors
based on its growth of cotton in 1911
compared to the total growth, each
100000 bales representing a director.
Texas being entitled to II directors,
according to the above
Capital.
The Southern States Cotton Cor
poration proposes a capitalization Of
S1,O0000000 levied as follows: 81,
000.000.00 in common or voting stock.
$6,O0O,OO0O0 in participation certifi.
Gates. This stock to be sold while
the corporation is in formation so as
to net par to the corporation, after.
wards the value raised to such price
as the directors of the corporation
should think it should be worth
When the entire stock is sold it is
believed that it will represent some
thing like S100O0,O0O.0O cash in the
Treasury This cipita together with
the certificating fees should bring
the cash capital of the corporation m
to approximately twenty-five millions
of dollars with which to begin bus
mess. With such a capital under
the present system of marketing any
man or firm could confidently count
on doing a business of 100000 bales
of cotton. Under the plans of the
Southern States Corporation the
amount of business which could be
handled with this same capital would
be unlimited since each bale which
passes through its hands would add
to It's capital $4,000 over the cash
price paid to the owner for it, as un.
der the certificate or contract with
the grower or owner a loan of $4,000
per bale has been arranged. which is
to run ninety days or longer if nee
essary, and therefore each bale de-
liyered to the corporation would
strengthen its reserve instead of
l.