Yazoo City herald. [volume] (Yazoo City, Miss.) 1878-1976, 1914-12-04
HARyIE JORDAN HAS
BIG COTTON PLAN.
President and Executive Committee of
Southern Cotton Association
Confer in New Orleans.

Harvie Jordan, the president, and
the executive official Of the Southern
Cotton Association, spent all of Tues
day wrestling with the most ambitious
holding plan it has yet considered.
Millions is small word in connection
with this idea, but Mr.. Jordan says
he has canvassed capitalists as we'll as
cotton growers, and the proposition is
not only feasible, but is favored by
the money interests. Mr.. Jordan de-
MES that the scheme is original or
originated with him. 1t has been in
the minds of those interested in cot
ton for decade, he says, and has been
called by various names, and the pres
ent movement is now intended to make
practical the best thought advanced.
and put into effect for the present and
future welfare of the Southern staple.
After gathering information and
sounding sentiment, Mr.. Jordan is
sued call for a meeting of the COM
mittee, and the members assembled
in parlor of the st. Charles hotel
Tuesday. Wade Stackhouse, of South
Carolina, Charles L. Gary and w. w.
Thompson, of Alabama; F. L. Maxwell,
Paul M. Potts and w. L. Foster, of
Louisiana; Walter Clark and w. ].
Davis, of Mississippi, and ]. H. Con-
nellie, ]. E. Hickey, E. F. Shropshire
and w. S. Gibbs, of Texas, were pres
emit. All remained over for Wednesday
except Colonel Maxwell, who was fore
ed to return to Mounds to keep an
important engagement
Plan Under Contemplation.
Mr.. Jordan declined to give out the
details upon which the conference was
at work until it has taken final ac-
ton, but he had no objection to dis
cussing the general plan which was
laid before the meeting "What we
contemplate" said Mr.. Jordan, sis util-
i-ation of part of the surplus cotton
now in the hands Of farmers for the
purpose Of capitalizing company
sufficiently large to construct, when
ever necessary in the cotton belt, first
class warehouses, for financing cotton
in storage, for getting correct statisti-
cal information regarding supplies
and consumption, and the condition of
the crops during the growing season,
and to stabilize cotton value at a fair
and reasonable price to growers for
all time to come.
Zone of the attractive features Of
the plan is that all cotton subscribed
will be taken at ten cents pound,
basis middling, for which stock certif-
icates will be issued to subscribers, and
this cotton will be absolutely retired
from the market until a minimum
price of ten cents is offered. The eff
feet of this would be to Immediately
enhance the value of that part of the
crop needed for consumption, and
cause it to bring as much money to
the farmers as the entire crop would
bring if now put on the market and
sold.
"The proposition has the indorse-
ment of some of the largest banks,
business men, and farmers, in the
South, and is expected to receive the
cooperation of the Farmers Union
and other agricultural organizations
throughout the cotton States.
"The executive committee has this
plan under consideration, and if it is
endorsed, an active and enthusiastic
campaign will be started at once in
all the cotton growing counties Of the
South. Such company would form
forever strong defense for the bene-
fit of the cotton growers, and absolute
ly prevent recurrence of the depress-
ed conditions which exist in the cot
ton market"
Capital of Millions.
"How much capitalization is con-
templated ?" was asked.
"If we should retire 100000 bales
it would mean a capital of $150,000,-
4
O0O," replied Mr.. Jordan, "but even
with capital of s25,O0o,OOO the COM
pany would be able to practically I'm
ance in storage every bale of cotton
now in the South which it is desired
to be held by the growers until it
could be marketed at a reasonable
price"
"How far has the meeting progress
ed?"-
"We are working on plans to finance
the expenses of promulgating and
putting through a company of this
magnitude. The only differences are
regarding the proper methods Of pro-
cedure. The session will be resumed in
the morning."
President Jordan was asked as to
cotton acreage reduction plan de- led
upon at the general meeting, a. d said