The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1913-01-04
LAUDS FARMERS UNION PA,
Only Institution or Organization r..
Can Hold Cotton Without Re-
fraction Of Law.

The farmers union Is the only
stitution or organization that can hi,
cotton without a refraction n, "a
Sherman antitrust law, such as WON'T
be subject to prosecution. said D.
ter Radford, president of the Farms,,
union of Texas. Mr.. Radford MAD.
this statement in reference to the Ca.
on trial before the federal Supren.
court. in which James Patton, Eugs,.
Scales. Frank b. Hayne and william
P. Brown are charged with consnI,
acy to run a 100000 corner IN
the market. says the Texas Stockm,,
and Farmer.
Mr.. Radford says there are nume,
Gus brokerage concerns and indiyM
uals handling cotton in violation Of IN.
antitrust law. owing to the fact tia,
they hold cotton for the expressad
purpose Of running the market I'd Nv
limiting the supply so that spinner
VIII be compelled to pay the pries
necessary to bring the product on tina
market. This makes the price OF N.
manufactured products cost the Con.
sumer more without the benefits goin,
where 1t belongs, to the producer A.
the raw material, but instead the bn,
ker Is the man who reaps the b,,
vest.
The Farmers union plan of holdl,
nj
purpose. We hold our product in O.
der that there will not be an owe,
supply thrust upon the market and
that it may be supplied as the d.
mand justifies. Under the warehouss
plan Of the Farmers union each man
is privileged to sell whenever he
pleases to do so, or hold his cotton
until he gets his price. The organi,.
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 loan
on it 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 if he does
not need the money our local ware
house system 6rovides him with de.
sirable place to store his cotton as
long as he desires to hold It.
Many of our farmers made a 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
Thu mistake made in early selling 10
very evident, taking as a basis for
consideration the market conditions
of last year. In August, 1911. cotton
sold at 10Ac. dropping to &C in Octe
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 1910
This year 1911 and August market
was 11$c at the time most Of the
crop was marketed and dropped to
the present price, lie for middlng,
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
f1dent that those who hold till next
spring will realize 15c, which would
we'll justify them to pay the per
cent. on money IL necessary to enable
them to hold. A further reason IN
connection with these comparative
figures for expecting cotton to 20
even higher next spring than last, Is
In the fact that the total crop will not
exceed that of last year. While 1t 10
true that the foreign crop is heavier,
the American crop is about 100000
bales short of last year. taking the
country in its entirety.