The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1914-08-28
Banks to Rescue
Of Farmers
Continued from Page One

Continued from Page One)
sure after the war is ended. If Uncle
Sam can keep out Of the war, and |
don't believe Woodrow Wilson win al
low us to become involved, a greater
mercantile business should be estab-
lished with the world through Ameri-
can ports than has ever before been
known here.
1T seems to me that the FELLOW the
present cotton situation is going to in
jure, is the buyer. There is no par
ticular necessity for the grower to be
injured materially The banks will be
SO busy helping the farmer that he will
have no time, nor money for the spec
ulator That, least it seems, would be
the rule.
business may be a little sluggish
for a time. This. hswever will apply
to the south, the cotton country. The
northern section of the United States
where cotton is not grown win reap
a harvest in the fancy prices on their
products and II the warehouse plan is
adopted, the cotton stored and ware
house receipts issued on 1t, the banks |
then advancing money on the receipts.
there is no reason why the situation
here should be exceedingly stringent. "
The cotton situation in Oklahoma |
was discussed at meeting OF bank |
ers and cotton men in Oklahoma City
yesterday. A report OF the meeting
says
The chief purpose Of the conference
was to work out the simplest plan
possible 10 devise for holding the cot
ton crop one that can be put in opera
tion at once with little initial expense
w II Coyle suggested holding the cot
ton at the gins under some form Of
warehouse receipts which called Tor
insurance and protection from coun-
try damaes. the cotton to be held until
December / without covering. Upon
looking up the state warehouse laws
il was found that provision is made
for Just such warehousing, the law
prescribing warehouse for the stor
age OF cotton as a parcel OF land en-
closed with a lawful fence. tlfegates
Of or entrance to which shall be kept
securely locked at night
Thus legally constituted ware
house can be provided to start out with
without expense. All Of the cotton
dealers present agreed that no deter
ioration or country damage" occurs
prior to December j, so that an open
warehouse without cover would serve
the purpose as well as a covered and
enclosed one up to that time. 1t was
therefore suggested that wherever NJ
enclosed and covered warehouse eA
lists, steps be taken to organize ware
houses enclosed with a legal fence
to take care OF the first cotton com
ing upon the market 1t was further
suggested that for such wareh "a sing
the fee be less than the fee prescribed
by the statute, and instead Of rs cents
for the first month and Is cents per
month thereafter, the charges UP to
December / be 75 cents, which viii !
cover fire protection insurance, pro
lection from country damages, and
guaranty s delivery Of the cotton up
on presentation OF the receipt.
The question was raised as to the
negotiability or warehouse receipt
limiting the holding time to December
i. II was agreed by the bankers thai
such a restriction would not embar
rass them for the reason that they ex-
pected to hold their cotton paper and
use other securities to secure currency
from the regional banks II such action
becomes necessary. Ifrthe panks hold