The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1914-09-21
UNION WAREHOUSE
RECEIPT IS ENDORSED
Merchants 10 Devise Cotton Due
Bills interchangeable al
Local Stores

BUY a bale Of cotton at ten cents
a pound,' Ia the local slogan.
As announced In The Leader, sat
urday, meeting was held at the lone
Sunday morning, attended by most OF
the men representing tho various
lines OF business Ia Guthrie II was
held at this time because everybody
was too busy Saturday night for any
meeting these cotton men and NOR
chants who held the conference Fri
day night we're present and gave
their ideas OF the cotton situation
and more than an hour was spent In
discussing the matter In all ltS de-
tails. The warehouse receipt which
was adopted at the state conference
OF bankers at Oklahoma City a tow
days ago was presented and endors-
ed. 1t Is really the form originated
by the Pioneer warehouse at Guth-
re, and Is known as the union
warehouse receipt" 1t has been crit
iclsed by county attorneys and by
the attorney generals office and has
passed the criticism OF the bankers
as being in form for presentation to
the regnal bank depositorie csa 8
tho regional repositories as collat-
eral
After all questions had been
threshed out and all features fully
discussed the general proposition was
enthusiastically endorsed and tho
machinery was organized for putting
the plan In motion A committee OF
ten was selected TO Immediately start
a campaign for the Buy Bale
movement, as follows Lymon Gray.
Don Morris Vern Curl. Sam Smith,
Frank Burford. Jack Langston. Bill
Mitchell, Il. a. Powell. John Coyie
and George Upton. This committee
Is at work
A committee consisting OF MeSsrs.
I4intz. Brown, Hirshi. Coughlin and
jenkins was selected TO work out tho
details OF the plan for general mer-
chants to handle these warehouse
receipts and to pay a portion in cash
and a portion in due bills intsrChan-
geable at the stores. A special
committee OF Messrs. Houghton,
Burke Brodie. McNulty aud Poison.
was ordered 70 report suitable plan
which would warrant tbs SrocerJ
dealers TO handle these warehouse
receipts, II being declared that thsT
should provide different basis on
which to Justify them IN a iutioions
and safe line or dealing.
An Advertising committee vas Sp-
pointed consisting OF Fred wenner.
w. X. Patterson. J. J. Abel and Ed
Petersen. and q finance COMMITTEES
consisting OF A A. Boyer. Wenner.
Liutz. Houghton and Cray.
All these committees we're order
I'D to meet At tho rooms ON the
chamber Of commerce Monday after
noon.
Reports from all committees will be
made AZ the lone Tuesday.
New York Buys a bale.
The buy a bale of cotton move
meut has broken ont la Nev YORK
city and a movement has been start
od S, some leading merchants .
e..4s ue general trade OF that city
.1L secure purchasers on the basis
90. d bale AZ ten cents Man ~ item
win bly more than bale. sole Of
the stronger concerns already ord
e-ing the investment o. several
thousand dollars. It is thelr plan %
invest the cash So that groEera may
be able 70 harvest the crop and also
TO hold the cotton thus bousht aud
keep it OF the market. thereby pre-
venting any appearance % a panic.
The general opinion in New Tork i
that when there is a settea basis for