The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1914-08-26
QUESTION Of
STORAGE FOR
COTTON CROP
BANKER DECLARES COST or
STRUCTURE FOR WAREHOUSES;
WOULD NOT EXCEED S1.oo PER
BAlE-WOULD AID FARMER.

expect that Lexington will handle
more than this number within the next
nine months.
f. NJ. Abernathy, president of the
Security State bank of Lexington, is
is one of the leaders here in the move
ment which is expected to solve the
problem of marketing the cotton. Mr..
Alternately was attracted by the recent
discussion of the cotton situation, as
reflected in various articles in the Ok
lahoman. and has addressed the fol-
lowing letter to ID. w. Hogan, presi-
dent of the Farmers National bank OF
Oklahoma City:
Lexington, OKLA, Aug. 23, 1914
d. w. Hogan: Dear Sir-l have read
YOUR letter published in the Oklaho-
man this morning. Also the other ar
ticles discussing the cotton situation.
| have been closely associated with
the farmer and the marketing of his
cotton for the past twenty years, am
farmer myself and have interest in
several hundred acres of cotton this
year.
"Now while we are remodeling the
method of marketing our cotton
| (Which the Lord knows needs to be
gotten away from the old system eY-
en- when conditions are normaD, let's
90 at it right, and make arrangements
that will not only meet the require
ments of this year, but that will revolu-
tionize the system permanently.
"Your suggestion of the banks re-
loaning on the cotton is all right, and
the banks (and producers can go a
long way toward holding the cotton
off a congested market without as
sistance.
your plan of allowing the farmer
to carry his cotton back to the farm
for holding, however, is not at all
practical.
"A trip through the country will
convince you that not one farmer out
of fifty, who has to have aid from the
banks, has made sheds in which to
properly care for his feed and stock,
to say nothing of place to store his
cotton. One greatest trouble in the
past has been to show him that it is
not to his advantage to hold. This
being the case, they will all want to
hold cotton this year if their banker
and merchant advises them to do so.
"My opinion is that as the producer
| is the one who is most vitally inter-
ested, that he should own and pay
for his own storehouse. For instance,
this section will produce this year
about 5000 bales of cotton for which
this town is the natural market We
can organize a bonded warehouse
company under the existing laws OF
the state, duly elect good men as of
fcers, and open books for stock sub
scription. Go ahead and build ware
house that will hold one, two or three
thousand bales of cotton. Now, wher
a producer brings his cotton to towr
he will want to store and get advan
ces.
Cost $1oo per Bale.
The bylaws of this company pro
ers think it will be necessary fol
the board to announce officially the
result anG for the 2over'.rr 20 ISSUE
proclamation, declaring that the
laws have been sustained and are
operative.
Cruce Hurries Matters,
Governor Cruce said Tuesday HI
would request an opinion from thu
attorney general The governor Il
anxious that all legal requirement
be met as soon as possible so tina
the laws may become operative. H'
has been in communication with th'
state election board for the past sey
eral days, urging that steps be takel
to secure complete returns in orde
that the status of the laws may b'
cleared up.
Only one of the state questions wa