The Birmingham age-herald., 1914-09-03
FARMERS ADOPT l PLAN FOR COTTON Stipulated Prices Agreed On At Lincoln Conference GIN STAPLE AS USUAL No Sale Before December At Less Than 1Oc Per Pound-Tilton Ex-
 plains Advantages of Con-
 certed Action
GIN STAPLE AS USUAL

Lincoln, September 2.-(Spec1ai.)-in re- eponse to the call issued by McLane Til- ton, Jr. over 25o persons met at Lincoln yesterday for the purpose of considering the cotton situation. Delegates represent ed the leading manufacturers, farmers merchants, ginners and warehousemen of | this section. Among the towns strongly represented were Pell City, Lincoln, Me Fall, Schmidt's Mill, Seddon. Riverside, CoSl City, Cropwell. Easonvile, Fountain / Run and New London.
 My. Triton presided over the meeting and expalined the advantages of concerted action even in small area of the cotton belt and just what help the government had rendered, and what was necessary to be done to qualify for it. Other talks were made by many business men and formers. MT. Tilton then presented plan which he had prepared to offer the cus- toners of the First National banks of Pell City and Lincoln, provided its terms were agreed to, and he recommended that all merchants adopt the same plan to govern their own relations with farm custom CTS
 from every angle and after three-hour session was adopted unanimously with a rising vote and great enthusiasm. Those present pledged themselves to live up to the resolutions and to persuade their neighbors to do so. very hopeful feel ing prevailed after the meeting as all concerned feel they are on the right track Certain it is that no local cotton will be hurried to market as result of the plans adopted. This plan is said to be the first comprehensive measure yet adopt ; cd in the south to give practical effect to the proposals of the government. and all ready there are indications that MT. Til- tons suggestions will be widely followed in other parts of the cotton belt. 4 Resolution In Part y The resolution in part follows:
 That no cotton shall be sold by us before December 1, 1914, at less than 10 cents pound. If this price is offered. then each farmer must sell one-fourth of 1his crop between this date and November 1l, 1914, and sell another fourth between November 1 and December 1, 1914, the dis position of the remainder to be determined at a meeting to be held November "A at Pell City,
 That cotton must be picked and ginned as usual. Farmers whose cotton is mort gagged, or whose crop was the considera- tion of an unsecured credit, shall immedi- ately turn each bale over to their creditor for safe storage until the debt is cov- tred on basis of cents per pound. v That all debts due us, secured or un- ! Necured, the payment of which was ex- lected to be made by the sale of cotton, . are hereby extended from present maturi- Mics to December 15, 1914, without further Enterest charge, and we will ask a like extension from our own creditors.
 That the entire proceeds of cotton and cotton seed sold must be used to 1iaui- date debts to home merchants and banks unless otherwise agreed upon between Iebtor and creditor in cases of urgent Heed.
 That all persons should husband their resources and live with economy No new credits shall be asked for or obligations assumed, except reasonable quantities of foodstuffs until the crop has been mar Neted or satisfactorily financed
 That on or before the maturity of out standing notes or open accounts, debtors shall execute new note to creditors due December 15, 1914, securing same by de- posit of their cotton receipts to the end khat such notes may comply with govern ment regulations for the issuance of ad- ditional currency to carry a part of the crop.
 That no suits or foreclosures will be ! filed by us against our own debtors unless /fhe conduct and financial condition of such E4ebtor demands this course as best for Nboth parties concerned.
 Farmers, or other owners of cotton. who are free of debt and hold their cot ton as a surplus crop. are earnestly urged to keep such cotton off the market until December IS, 1914, to enable others less fortunate to better accomplish the pur- ! pose of these resolutions