The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1913-01-18
LAUDs FARMERS, UNION PLAN
Only institution or Organization That |
Can Hold Cotton Without Re-
fraction OF Law.

/ The farmers union Is the. only IN.
st1tution or organization that can hold
cotton without refraction OF the
/ Sherman antitrust law. such as would
be subject TO prosecution, said Pc
ter Radford, president Of the Farmers
union of Texas. Mr. Radford made
| this statement in reference to the case
on trial before the federal Supreme
court. in which James Patton, Eugene
Scales, Frank B. Hayne and William
?. Brown are charged with conspir-
acy TO run a $1O,O0O,00o corner on
the market, says the Texas Stockman
and Farmer.
RI. Radford says there are numer-
Gus brokerage concerns and individ-'
uals handling cotton in violation Of the
antitrust law, owing to the fact that
the. hold cotton for the expressed
purtose Of running the market up by
lin ing the supply so that spinners
VII, be compelled to pay the price
nee ssary to bring the product on the
ms set. This makes the price OF the
me- sfufactured products cost the con-
suI&sr more without the benefits going
VIII 1t belongs, to the producer of
the NV material, but instead the bro
ker Is the man who reaps the har~
vest
% Farmers union plan of holding
cottfn eontemplates entirely another
pur ose. We hold our product in or
der that there will not be an over
SUI ply thrust upon the market and
tina 1t may be supplied as the de-
maid justifes. Under the warehouse
plan Of the Farmers union each man
is PRIVILEGED to sell whenever he
plea SEES to do SO, or hold his cotton
unit he gets his price. The organic
aticsl has no voice in his placing his
cotton on the market, but at the same
time makes It possible for him to
hold It as long as he desires to do so,
by enabling him to procure 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 IL he does
not need the money our local ware
house system provides him with a de-
sirable place to store his cotton as
long as he desires to hold 1t.
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
The 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 Sc IN Octo-
Der as result of the reaction caused
by the early marketing in the spring
IF 1912 the price again went up.
reaching as the highest point 1876.
This year 1911 and August market
was Il Vi at time most Of the Il
crop was marketed and dropped TO
he present price, lie for middling,
which is &c above the October price
asst year. Taking into consideration
he extent to which prices have held
lp as compared with 1911, am con-
ident that those who hold till next
spring will realize 15c, which would
veil justify them to pay the s per
,ent. on money IL necessary to enable
hem to hold. A further reason In
connection with these comparative
igures for expecting cotton to go
wen higher next spring than last, is
n the fact that the total crop will not
Exceed that Of last year. While 1t ID
rue that the foreign crop is heavier,
he American crop is about 1000, 600
,ales short of last year, taking tha
country in it's entirety.