The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1914-05-15
FARMERS EDUCATIONAL AND CO.
OPERATIVE UNION TO ESTAs-
LlSH MARKET AT HOUSTON.
BUILD FIREPROOF WAREHOUSES;
Financial Plan of Forming Stock Com
pany Agreed Upon-To Provide
Fund for Handling the
1914 Cotton Crop.


ers' Union of Texas, who held con-
ference in Houston, adjourned Satur-
day.
Houston became the permanent Of,
fetal selling market for the members
of the Farmers Educational and Co
operative Union of Texas through the
effect Of a resolution unanimously
adopted Friday. The meeting was
composed of 1000 cotton growers con-
prising State and district officers and
accredited delegates gathered for that
purpose.
The resolution placed the State and
district officials and delegates on rec.
ord as committing the State organ
ization to future policy of construct
ing modern fireproof cotton ware
houses at Houston of sufficient capac-
ity and sufficiently strongly financed
to make the members of the union
independent of any possible future ef.
fort by corporations to control ware
house rates and privileges.
The State Farmers Union agreed to
take over the selling agency establish
ed at Houston a year ago by the Farm
ers' Union Cotton Company. buy up
the entire unpaid capital stock and
further place the agency upon a solid
financial basis.
For the purpose of immediate ne
cessities created by the approaching
harvesting and marketing season,
each county represented in the district
and State unions was pledged through
it's delegates to subscribe $3.50 with
which to provide a fund for handling
the 1914 cotton crop in the Houston
market.
The resolution was introduced
Thursday afternoon by e. A. Calvin
of Houston, former president of the
Texas Farmers Union and agent at
Houston in charge of the Farmers
Union Cotton Company's selling
agency
1t was reported back from the COM
mittee on resolutions Friday morning
and adopted unanimously. The resolu.
ton follows:
I'VE, the State officials of the Farm.
ers' Union of Texas and presidents OF
the various district unions and other
members of the union in conference
assembled, beg leave to offer the fol
lowing resolution for adoption as
solution of the business for which the
joint district conference was called
by unanimous vote, as follows:
There being an imperative neces
sity for action on the part of the mem
bership of the Farmers Union of Tex
as in the support and financing of the
central selling agency now located al
Houston, in order that it may attain
that degree of success so earnestly de
sired by all upon its establishment;
therefore, be it
Resolved, first, That we recon-
mend as a temporary relief that the
members of the Farmers Union of
each county in the State make loan
of $3.50 to the central selling agency
located in Houston, such loan to be
for not less than one year and to bear
interest at the rate of per cent, and
that all such loans shall pass through
the hands of the State officers of the
Farmers Union and correct record
of the same shall be kept by them.
"rhat as permanent solution of
the proposition of financing the said
central selling agency, we recommend
that the entire unsold stock of the
said Farmers Union Cotton Company
be taken UP by the membership. either
as individuals or through local conn.
ty and district unions, warehouse and
gin companies and clearing house as.
ISOLATION, and that the said Farmers
Union Cotton Company become the
authorized selling agency of the Farm.
ers' Union of Texas.
I'VE further resolve that the said
company be placed on cooperative
basis and that the nine directors of
the Farmers Union Cotton COMPANY.
as prescribed by law in the charter of
the said company, shall be composed
OF the State president, secretary and
treasurer and State organizer of the
Farmers Union of Texas and six
others selected from the stockholders.
I'VE recommend that 10 per cent
of the profits annually be set aside
into a sinking fund. After the sink.
ing fund of 10 per cent has been pro.
vlded, then We recommend an eouit-
able division of tI,a nrofitc ar,o,o ~