Yazoo City herald. [volume] (Yazoo City, Miss.) 1878-1976, 1914-12-04
BANKERS SAY ACREAGE
MUST BE CUT
Adopt Resolutions Recommending
Banks Decline TO Loan to Farm
ers Except on Condition They
Agree TO Curtail Output

State Bankers association. called b,
the president to consider the cottor
and other problems.
As originally offered by G. A. Will
son, president of the Wilson Banking
company, of Greenwood, and seconded
by c. H. Williams, president of the
Bank of Yazoo City, and brother OF
United States Senator John Sharp Viii.
hams, the resolution was in the ma
ture of an agreement of the bankers
not to lend money for cotton planting
purposes unless the borrowers prom
ised to reduce their acreage fifty per
cent. Opposition to this arose, some
] bankers stating frankly that in some
instances it would be impossible and
unwise for them to live up to it, but
they would gladly support a resolu-
ton recommending that this be done.
A general discussion ensued and in
amended form the resolution, which
was feally adopted, is as follows:
Whereas, it is evidently to the in
terest of the entire people of the State
of Mississippi that the cotton acreage
for 1915 be reduced, therefore,
"Be it Resolved, That it is the sense
of this convention that the cotton acre
age in 1915 should be reduced to fifty
ner cent of the acreage planted in cot
ton in 1914; and to the end that such
reduction shall be made,
"Be it further Resolved, That it is
urgently recommended that the bank
ers of Mississippi decline to lend funds
for conducting planting operations to
any farmer or planter who will refuse
to reduce the acreage planted to cot
ton by him in 1915, by at least one
half Of the acreage planted to cotton
by him in 1914"
!, E. d. Gilmore, banker of Amory,
favored an amendment to include sup
ply merchants in the resolution, but
said he would not offer it. A short
discussion along this line followed, and
no one seemed disposed to offer such
an amendment.
4 Among those who discussed the cot
ton situation were ex-Gov. E. F. Noel,
of Lexington; 7. H. Dickson, of Vicks-
burg, secretary of the Mississippi
Bankers association; Henry Hart, of
Winona, president of the association;
e. ID. Gilmore, Of Amory, w. P. Krets-
chmar, of Greenville; S. ]. High, of
Tupelo, Dr. o. B. Quin of McComb
City, A. G. Wilson Of Greenwood, e.
h. Williams e Yszoo City, and ]. M
fairfield of JACKSON.
While all of these gentlemen heart
lily favored reduction Of cotton, some
believed it unwise to sign pledges or
agreements to lend to farmers on con-
1ition that they would reduce acreage
80 per cent. The general under
seemed to be, however, that
the bankers will carry ont the spirit
Of the resolution.
The cotton pool matter was touch
I'd upon but slightly, as literature 8
regarding it has been distributed by /
Secretary Dickson, and names OF the
Committeeman had not
,een announced, so there was no one 8
% give definite information on ,
POINTS that those present desired clear =
ID up.
The general subject discussed dur
ng the three hours session, was the I
.otton situation. The bankers frank 9
Y admitted to each other that things ]
we're not rosy. Mr.. Williams was
emphatic in saying that
Southern people must Give close and =
o give definite information on E
economically" during the next two !
rears, declaring that they would learn
hat the solution to the south's whole
nancial problem was diversified farm
ng. He said If a wall twenty miles !
Ugh was built around the South those
within the enclosure could secure ev-
rything needful for comfort, good liv- +
ng and happiness. t
Oscar Newton, Jr., president Of the e
ackson State National Bank brought e
p the subject of uniform warehouse Il
eceipts and forms of notes. He be- Il
eved that if possible uniform receipt n
orms should be adopted, so they could n
eadily be used in rediscounting. Presi- Il
ent ]. B. Stirling, of the First Ma 81
ional bank of Jackson, also discussed ii
his matter, offering the following res Ia
luton, which was unanimously adopt
d: al
Resolved. That the secretary Of the v
lississippi Bankers association be in Il
Lructed to procure from the Alabama e.
association the form Of note V
nd cotton warehouse receipt approved
Y the directors of the federal reserve
ank in Atlanta. and submit same to vi
Iessrs. Mayes and Mayes, attorneys al
'r the Mississippi Bankers associa- to