The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-10-13

terest rate of per cent a year is pro-
eosed
Robert J. Lowry. president of the
Atlanta Clearing House association.
who is attending the bankers ccnven-
ton. said last night that $4,000, 0oo.
the amount allotted to Atlanta. was "a
large sum. but believes II can be
secured. A conference on the subject
viii he held In Atlanta Wednesday
Though the Wade plan has been
approved. and subscriptions to the hun
dred-and nifty million dollar pool are
being made, there is no reason why
there should he any let up in the buy
a bale OF cotton movement" said j. A.
Lewis, cashier of the National Bank OF
Commerce. of st Louis, who is here
for the A. y A. sessions.
Mr. Lewis. who is an enthusiastic
supporter of the Wade plan. said tho
plan Is looked upon generally as the
most practicable yet proposed for the
relief Of the present cotton situation
The banking and business interests OF
Missouri and other sections OF the cot
ton country. he declared are almost
solidly supporting It. The ST. Louia
banks have subscribed 5000. 900 to the
pool and the mercantile houses Of that
city have added s2.5o0.cn0 to the big
fund,
Kansas Stt~'s Subscription
I'm Kansss city 'he hsr'<s have sub
scrihed another 81 roo. oeo. under
stand. and IN st Joe another large
subscrintton r. to hs rrsHs Missouri Is
rsttir~ IN line beh'~d the movement.
rnd though 4 is sttl Young believe
the stfN ono 900 win be raised IN n
short time"
pevaraine the nlno OF roe~ress'la >,
Henry NJ Lewis TONED with Others
VIM IRE from Missouri. IN saving the
plan 's impracticah'e
SPEAKING ~ the 'huv- bale" move
rnent which he's ouickiv swept over the
entire South AMI which Is being ex-
tended to the North Mr. Lewis ex-
pressed the opinion that y wifi con-
tinue to grow. although the plan OF
Mr.. Wade will go far toward relieving
the situation.
THE hundred and ATTY million dollar
loan" he stated. will take care Of
about 5000, 900 bales Of cotton. Since
therc are probably eight million bales
Of the staple to be retired this year
Their. ia plenty of room for the "buy-a.
hale movement. There will he some
three million bales TO buy. The buy-a J..
bale movement 10 n good one. II de-
serves the support OF all patriotic peo-
pls
Judging from the spirit that has al
ready been shown in Southern and
other cities in boosting the 'buy-a- bale
plan = large part of the 1914 crop
will he taken care OF The Wade plan
looming money to cotton growers on
me cotton based on GOOD mtddling AT
elk cents mound. will retire Ave mil
lion bales Tn" money Is TO be loaned
for wear with opportunity to renew
for six months ~ the markets have
not opened within wear"
Cartailment Of 1918 Crop.
Mr. Lewis would not venture the
prediction, however, that the war situa-
tior would be adjusted and that the
worlds market would be in n position
tr c1sa~ np the cotton eron IN n wear.
IA TO the probable curtailment Of the
1915 cotton crop as a result OF the
markets. closing this wear, Mr.. Lewis
would exposes no onintor He said he
does not think the Wade plan conten,
rlates any such move es the CARVING
on ~ An educational campai~n among
rcttcn growers. looking TO the absn-
donnSent OF cotton growing for year
or 10 the cutting down Of cotton acre
ase
He ia inclined N the belief that, in
view of the stagna'ior ~ cotton now
obtaining, the farmer will have no
reed for such an educational campaign
and that the cotton grower win shor-
ten his next CROP Of cotton without
urging
Another prominent visitor TO Rich
nsond this week srhn holds similar
Views Is 4. OrViiie Wilson, also oil
81 Louis, MIR. Wilson is vice preslden.
~ the State National bank, Of St
Louis. and IL vice president Of the
clearing house section OF the A. y. A.
Va heartily anhnrHsd tbs wade pian.