The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-02
Subscriptions Are Taken at
Once for 1872 Bales
of Staple.
WILL BUY DIRECT
FROM COTTON PLANTER
Purchases to Be Made by Rich
mond Jobbers Through Lo-
cal Merchants.
ELIMINATES ALL spEcULAToRs
Mayor AinsIie, II. +. Litchford and
III. w. Jackson Made Cotton
Buying Committee.

Lending its strong right arm TO tho
buy al bale movement, Richmond last
night launched an organization to be
known as the Richmond Cotton
buying Club" a medium through
which the citizens. merchants, business
men and manufacturers Of the city
VIII unite in purchasing as manv bales
OF the stG pie az is possible at ~ cente
pound.
Two hundred representative business
men, assembled In the auditorium of
the Chamber OF Commerce. adopted
the cotton club plan rs best designed
to carry forward this city's share In
the nation-w wide movement. Among the
first cities In the country to adopt the
buy a-balc slogan. Richmond IS now In
the front rank OF the cities that have
perfected organizations to guide the
buying movement In the beet channels.
SUBSCRIPTIONS TAKEN
AT ONCE FOR 1872 BALES
Within thirty minutes after the Rich :
mond Cotton Buying Club made its bow
as the city's nedgling organization.
business men taking part in the mass
meeting had announced subscriptions
for 132 bales OF cotton at an aggregate
purchase price of approximately s66.-
00c. 8 Others reported tentative and
promised subscriptions. which will
swell the clubs buying power. at the
The plan of, the club is to invite
subscriptions III multiplcs OF $50 each
OF which is to entitie the subscribcr TO
a 50o-pound bale Of m!ddling cotton.
The purchase, storage. Insurance. and
ultimate selling or the cotton is left
10 II cotton buying committee consist-
ing OF Mayor George Ainslie. Henry l..
I.!tchford. vice ce-presidcnt Of the old Do
minion Trust Company. and Herbert w.
Jackson, president or the Virginia
Trust Company.
The committee Will meet this morn
ing TO decide upon the details con
nccted with the cotton-buying move
mcnt. and to lay down n definite plan
which Will be pursued in making pur-
chases. Twenty-Five volunteers ut the
mass-mceting last night enrolled them
selves members OF committee OF
field workers. which will make a syste-
matte canvass of the city for sub
scriptions TO the $50 units OF the cot
ton buying club. J. T. w Curtis WAS
elected secretary TO the cotton buying
committee OF three. which will hold It's
first meeting this morning.
MAYOR AINSLIT: SAYS COTTON
SHOULD BE BOUGHT FROM FARMER
Business Manager w. 7. Dabney. OF
the Chamber of Commerce, called the
lnass-meeting to order at o'clock.
and explained brien:' the object OF
tho gathering He pre- scnted for short
speeches Mayor George Ainslie. w. I.
Reed, president Of the Chamber OF
Commerce. and Colonel John u. Pnr-
cell. president Of the First National
Bank.
The Mayor struck the Keynote when
hc said that care should be taken 10
provide that the cotton Is bought
direct from the farmer. and not from
the speculator. Richmond. he said, Is
right In taking the lead In the cotton
buying movement, since more than any
other city In this section Of the country
its prosperity Is dependent upon the
property OF the two Carolinas.
Colonel Purcell pointed out the
danger of indiscriminatc buying.
Merely to amass a large amount OF
money and spent it broadcast through
the cotton growing South would ar
ford no real relief to the farmer. and
such a method. he warned, would in
vitc speculation, and much of the
money intended for the relief OF cotton
growers would find It's way into tho
pockets OF middlemen and cotton specu-
lators.
SECURE STAPLE THROUGH
MERCHANTS WHO BUY HERE
The speaker outlined plan in ac-
cordance with which the cotton pur-
chased In this city would be bought
through Richmond wholesalers and
iobbers who, in turn. would secure the
staple through merchants who owe
them money. These merchants in turn.
would obtain the cotton direct from the
10 be applied as so much credit to their
Individual accounts
Such n plan, said Colonel Purcell.
would insure the expenditure of Rich
inonds money In the right channels.
There would he no possibility Of fat
tcning the middleman or speculator, and
the probability would be In favor Of
aiding the farmer who is actually In
need OF help to pay his bills.
The plan, he pointed out had the
to-, that led ha s6it ttt.ty
merchant to liquidate his indebtedness
10 the Richmond wholesaler and jobber.
and enabled the latter to make good
his loans at the local banks. Instead
OF n large amount of money. perhaps
100000, being shipped from the city
10 be distributed indiscrininately, the
money, said Colonel Purcell would re-
main in the city to be reloaned again
10 the jobbcr and wholesaler who Will
need 1t TO take care of the needs OF
the comaig season.
WOULD INSURE HENEEIT
TO COTTON GROWEI,
Much the same views were expressed
~ Mr.. Reed, who favored method
Of purchase which will insure the bene-
fit to the cotton grower. He agreed
with Colonel Purcell that Il plan which
will work general exchange of
credits and keep the bulk of the sub
scription money In Richmond was adj
visablc since Richmond is now being
called upon to finance the bulk of the
tobacco crop OF this section. and will
need all the funds II can get for this
purpose.
\ general discussion OF the cotton
l,uying problem developed the mass
meetings. approval Of the purchasing
plan outlined by the speakers. Mir.
Dabney, acting for Il committee COM
posed OF himself. c. T. Norman. chair
man. and !. T. Palmatary, presented n
preamble and resolution creating the