The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-09-19
RICHMOND MERCHANTS
WILL AID COTTON SECTION
Committee Appointed to Outline
Plan for Buying and Storing
Staple.
SAVE CREDIT OF FAR SOUTH
Colonel John B. Purcell Prcsides at
Meeting Held Mt Chamber of Com
merco Building to Discuss Situa-
tiOn-Seyeral Suggestions Made.

Always leaders in any progressive
movement designed to insure prosper
ity for this section OF country, and to
promote business activities. Richmond
citizens are now planning TO purcha SO
hundreds OF bales OF cotton in an ef-
fort to relieve depression I'm the COM
mcrclal world incident to the foreign
war. Plans for buying and pooIinE
large quantities of the South's great
est staple were fully discussed ycstcr-
day afternoon at meeting in tho
auditorium of tho Chamber OF COM
mcrce building of committee APP
pointed September "a at n gathering
OF Richmond citizens.
Attending the meeting OF the com
mittee yesterday afternoon were Col
onel John d. Purcell, chairman; A H.
Felthaus w. a. Williams. W. T. Dab
ncy. c. T.. Norman and IT. i. Smith,
secretary MIR. Dabney stated the pur-
pose OF tho gathering, which. nc said.
was to devise ways and means for the
buying and pooling of cotton to re-
lieve distress among hundreds OF
farmers, merchants and business men
living in the territory tributary to
Richmond markets. II was pointed out
that on account OF the curtailment In
the export of cotton, due TO the clos
Ing Of hundreds OF manufacturing
plants in European countries, cundi-
aloI'o III many EcCIlOIIS OF tIlls country
arc becoming serious. and that unless
the European difficulties arc soon set
tied, the cotton business will soon
reach a critical stage.
BUYING AND STORING COTTON
TO TIDE: OVER SITUATION
II was pointed out that in other sec
lions of the country. particularly In
the South and West. cotton Ia being
bought and pooled in an effort to aid
those who have their all invested in
this commodity In tiding over n grave
situation. Letters from several parts
OF the country explaining just what
method has been adopted In buying cot
I ton. and how enough currency may be
kept In circulation TO prevent serious
depression I'm business, were read by
Colonel Purcell. Various suggestions
were made and discussed al the meet
ing.
Richmond business men are deter
mined that citizens Of the cotton sec
tton feel that they arc substantially
backing any movement which offers a
solution OF the problem now confront
ling the business interests Of tho coun-
try. Richmond is with the citizens Of
this section. who with their trade and
cooperation have made it possible for
her TO attain her present position In the
commercial world. anG she liz deter
mined that they shall know that they
have the support Of the city in times of
prosperity or depression.
! Mr.. Norman moved that a committee
OF three be appointed to formulate def
mite plans for the purchasing of cotton,
to recommend a buying committee. and
that the first named committee be in
structed to report at meeting of iner-
chants and others Interested in the
work which Will be called at an carly
date. The motion was adopted and
Chairman Purcell appointed the follow
| ing TO serve on the committee: c. T.
Norman. chairman; J. 7. Palmatary and
w. 7. Dabney. This committee will
meet to-day, and 1t is likely that the
meeting OF those Interested IN the prop
osition will he held within the next
few days.
Prompt action I'm the matter Is re-
garded as necessary. Farmers are anx-
ious to dispose OF their cotton crops In
order that they may meet their obliga-
lions, and IT Is generally known that
the price Of cotton especially In the
South. is regarded as an index to real
business conditions. II Is believed that
n grave situation can oe promptly met
whenever some feasible plan IS worked
out whereby cotton can be bought and
sold at figures near the standard prices.