The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-10-02

his customer, who in turn gets IL from
the farmer. This method will help
all concerned.
my charity begins at home. I
dent pretend TO be philanthropic be-
yond our own doors. II you attempt
to buy from the farmer direct, in
your effort you will find that someone
Is getting a rake-off. and 1t won't be
the farmer. | am heartily in favor
CT this movement, and I suggest that
the best results will be gained by buy
irg through the wholesale mer-
chant
w. r Reed, president of the Cham
Der Of Commerce, followed HIS
views eoincided. practically, with
those of Colonel Purcell. He APP
proved the scheme Of buying the cot
ton. and said further that the tobacco
crops might need some help.
MIR. Dabney then read The plan OF
organization Of the Richmond Cot
| ten Buying club" which had been
framed by the general committee
Messrs w. r. Dabney, G t. Norman
and J. IT. Paimatary. The resolution
and plan follows:
Plan of Organization.
Whereas. the export of cotton has
been greatly curtailed by the exigen
cies of the European war. thus forcing
upon the produces an immense sur
plus, and lowering the market price
to point which seriously affects the
business interests involved: and,
Whereas, the people of Richmond
the manufacturing, jobbing and imam
cial institutions desiring to show in
a practical way a spirit of co-opera-
ton in relieving this unfortunate sit
uation by all possible means: and.
Whereas. at a meeting Of citizens
held on September IA, and at subse-
uuent meetings of committees ap-
pointed for the purpose it is there
fore
Resolved, That there lie organized
movement to purchase cotton at
20 cents pound to such extent as
may be found practicable and In
such manner as may be decided upon,
Therefore It is further
Resolved. That the following plan
he submitted to mass meeting to
he held Thursday. october /, at $50
T. NJ, in the Chamber of Commerce
auditorium, for consideration and
adoption with such changes as may
he deemed to the best interests of
all.
Fta0.
The name Of this organization shall
be Richmond Cotton Buying Club :
The object shall, be to purchase for
members such quantities Of cotton IN
bales as may be practicable, through
the medium of the club, to hold same
and to sell, In such a manner and by
sudk1 methods as may be outlined as
follows:
The affairs of the club shall be
managed ny the cotton buying com
mittee," which shall consist OF three
persons elected by the club.
Any one subscribing $50 to the
club will be entitled to 500-pound
bale of good middling cotton. under
the following conditions. VIZ: II the
bale exceeds 500 pounds the excess
shall be paid for at 10 cents per
pound, and If the bale weighs less
than 500 bounds. n refund is to be
made To the purchaser at the rate "a
10 cent per pound.
All cotton purchased by the cotton
buying committee for members, Will
be pooled for the Joint interest or all
subscribers, and warehouse receipts
will be retained by the cotton buying
committee for such cotton and CLUB
certificates issued therefor to sub
schibers in accordance with their
holdings, unless the purchaser desires
to obtain the cotton purchased or the
warehouse receipts therefor.
All charges for transportation IN
surances, storage. etc, shall be
charged against the cotton.
The cotton buying committee Is
authorized to determine and execute
methods of buying. price to be paid,
handling and selling OF the cotton
nurCAnased by this club.
The following gentlemen are recon-
mended to the club to serve on the
cotton buying committee. they to
select their own chairman: George
A nslie, mayor; Henry e. Litchford.
Herbert w. Jackson.
In discussing this plan, short talks
were made by Norman Johnson, who
stated that this years cotton crop
was the largest in years, and that in
some of the Southern States measures
were being taken to curtail the output
next year. Stanyarne Wilson, form
erly of North Carolina, who said the
farmers of the South were not asking
charity, as they were pretty well fixed.
but they were simply asking to be aid
ed in financing the large crop of cot
ton now on hand and help take 1t OF
the market temporarily; =. d. Hotch-