The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-22
BASIS FOR FAILURE
OF COTTON RELIEF
Belief That South Is Not TAX
ing Advantage Of It's OPP
portunitics.
SMALL LOANS REQI ES1ED

| While rlie whole country "a alive to the
fact that tho cotton situation presents one
OF the gravest problems arising out OF the
European war thero "a undoubtedly n
growing feeling that the South would
stand n much better chance TO obtain out
SIDE assistance ~ IL would show more OF
a disposition 20 help iteelf. Only few
weeks ago tho buy bale movement en-
listed the generous attention OF half the
newspapers In America In New York
alone tho rafies conducted m restaurants
IN the interest OF this propaganda Wed
with tho cabaret for the interest OF con-
tented diners out. and even to-day some
/ of these drawing contests are being held
! IN this city. Plans OF doubtful economic
value have been suggested 20 tho tune OF
hundreds OF millions OF dollars. having sor
their purpose the assistance OF the grower
OF cotton,
The reluctance TO close the arrange
rn.nts FOR tho Wade pool for 100000 600
has at Us root the feeling mt the South
Is not doing Its share in THE SUS yes
t"rday it was pointed out that while T, MAS
has E.nucd more than l.pOo,o GOO bales since
the season started and despite On" fact
also that cotton has gou" begging In the
streets Of interior towns In that state at
six cents a pound. only forty bales have
been brought 20 Dallas. warehoused and
receipts offered as a basis for emergency
currency.
The belief is gaining ground that the
South is not taking advantage ot th"
facilities already provided for helping It
self 30 far II has tukeu only abou:
$4,000. 900 ~ the emergency currency.
which IL could obtain 10y making the Al
rauGcmsuts prescribed by law. ABOUT
S14o.coO,ooo more Is said 70 be available
( for tho south alone. or almost rs much
as the Wade pool would provide. The
query naturally arises ne "a whether In"
| South IS holding back, fearing the risk
which I: wants Other parts 81 the country
20 assume. This suspicion may De I'M
Just, but IL seems to have been prompted
by the course the South has taken.
AS result OF this hanging back tNc
banks of the South either have not the
money - take care Of tho urgent needs Of
their patrons or they do not care to make
loans
Following Is a telegram winch came 60
q local firm of the Cotton ENcuuUgr yes
terdav from one OF the strour. 20 spot
concerns in Arkansas "Do ynu know o.
any ono who would loan SIS - 81 % baic
on cotton stored IN Comprcsscs IN
Arkansas at good rate ~ interest. ", Civ
ing them compress receipts as coilatrv1l"'
Tho mere idoa ot trying 90 g'' 20 loan
Of SIS a bale when the warehouse g,s..uts
indicates that there has hc"u % failure g"
take advantage Of oppOrtuu!tit s. that have
been at tho command Of amy wiirtv'Ne
banker.
ON the other hand. there has been som.
good work dome ion other parts ~ an"
south. sspociaiiy Georgia According -
press reports. Asa g Gambler OF Atlanta
stated that h. had $50 900. 600 10 loan on
cotton at 4 por cent and that nee would
build some az the Warehouses himself. "
is said tua' 80 men started 10 V0r'. on q
new warehouse In Atlanta last Monday
morning and IN" contract called for IFS
completion by Saturday night OF this
week n these reports are true Mr. Can
dlcr will take raali us one OF the great
men Of the South rs a result OF the
Gambler proposal cotton IN Georgia has
already stiffcncd apprcclahlN
N1il. no formal announcements wcro
made at the Cotton Exchange yesterday,
there is a well grounded belief that plans
tending to make possible an early opening
Of tho cAChanG, are developing sntisthc-
torily II Is stated that the outlook for
tho syndicate plan Is much more favorable
and that the necessary cooperation rs In
sight II In fact Il has not been already
obtained.