The Raymer enterprise., 1913-01-02
LAuDs FARMERS UNION PLAN
Only Institution or Organization That
Can Hold Cotton Without Re-
fraction Of Law.


The farmers union IL tie only in.
stitution or organization that can hold
cotton without a refractien Of the
Sherman antitrust law, such as would
ne subject to prosecution. said Pc
Ter Radford, president of the Farmers
union Of Texas. Mr.. Radford made
thls statement in reference to the case
on trial before the federal Supreme
court in which James Patton, Eugene
scales, Frank B. Hayne and William
r. Brown are charged with conspir-
acy to run $10,OOO,OOO corner on
the market, says the Texas Stockman
and Farmer.
MIR. 'Radford says there are numer-
Gus brokerage concerns and individ.
uals handling cotton in violation Of the
antitrust law, owing to the fact that
they hold cotton for the expressed
purpose Of running the market up by
limiting the supply so that spinners
Will be compelled to pay the price
necessary to bring the product on the
market. This makes the price Of the
manufactured products cost the con-
sumer more without the benefits going
Where 1t belongs, to the producer Of
the raw material, but instead the bro
ker Is the man who reaps the har.
vest.
The Farmers union plan Of holding
cotton contemplates entirely another
purpose We hold our product in or.
der that there will not be an over.
supply thrust upon the market and
that 1t may be supplied as the de-
mand justifies. Under the warehouse
plan Of the Farmers union each man
is privileged to. sell whenever he
pleases to do 80. or hold his cotton
until he gets his price. The organlz-
alton has no voice in his placing his
cotton on the market, but at the same
time makes it possible for him to
hold 1t as long as he desires to do so.
by enabling him to procure a loan
on 1t at low rate OF interest In the
event he needs money to meet his
demands before the market goes to
where he cares to SELL Or II he does
not need the money our local ware.
house system provides him with de.
sirable place to store his cotton as
long as he desires to hold It.
Many of our farmers made mis-.
take by selling their cotton early In
the season. This was done mainly
by those who were not able to hold.
and at the same time did not care to
pay the six per cent. on the money to
be had as loan on the cotton when
handled through our warehouses.
TIL! mistake made In early selling is
very evident taking as a basis for
consideration the market conditions
OF last year. In August. 1911, cotton
sold at 10Ac. dropping to 9c in Octo.
Der as a result of the reaction caused
by the early marketing In the spring
OF 1912 the price again went up,
reaching as the highest point 12Hc.
This year 1911 and August market
was l1Sc at the time most of tie
crop was marketed and dropped to
the present price. lie for middiing.
which is &c above the October price
last year. Taking into consideration
the extent to which prices have held
up as compared with 1911. am con.
fldent that those who hold till next
spring will realize 15c, which would
we'll justify them to pay the per
cent. on money II necessary to enable
them to hold. A further reason In
connection with these comparative
figures for expecting cotton to go
even higher next spring than last, is
In the fact that the total crop will not
exceed that OF last year. While 1t is
true that the foreign crop Is heavier.
the American crop is about 1000. 900
bales short OF last year. taking the
country In its entirety.