Pine Bluff daily graphic., 1914-12-13
Harvie Jordan Tells of Co., operative Plan to Solve
 Growers Problem.
B UILD WAREHOUSES; $
Purpose of Proposed 100 Million Corporation Is to Advance Money on Cotton That Values May
 Be Forced Up.

i soclation in New Orleans on No ,e.n- Der 23-4, which authorized the o.sani- zatlon of the Cooperative Co:toc company, preparations have neeu made for this organization. The plans of the company uhic!, is headed by the association. were outlined today by Harvie Jordan president of the Southern Co;t,1 as. sooiation, as follows:
 The maximum capital of tEa new company will be one hundred million dollars, with minimum Of onn mil lion dollars. The capital is ,c le raised among the cotton wing interests of the South, by subscrip- tlcns of spot cotton, out of the sur plus of the 1914 crop.
 Shares of stock will be S1O each No promotion stock of any knd will be issued. All cotton suDscr1oaI vii; be taken at 10 cents per poun], hasis middling, evidenced by a,oro,ec warehouse receipts.
 The holders of cotton in the aly- a-bale-movement will be urged to take stock in the company, when w;ll guarantee to them the full return on their investment
 "The early retirement of a ,aree e part of the surplus of the present CO., ton crop into the Co-operativ, Cotton company, by the growers, will have the immediate effect of mater; o',y ad- vancing prices for that portion oi the crop needed for consumption.
 By retiring the surplus ;tn7 re- ducing the cotton acreage for 1915 the proper equilibrium between supplies and cG>sumption will develoo. there by forcing up values to fair an reas- enable prices to the growers.
 Company Will Solve Prob,er.,
 Positive and definite co-onaratiol ' among the cotton growing interest Of the South are imperative if ,el,af Is to be secured from existing fiaa~ cial depression
 "The South must first mani'3gt {, determined effort to help itsalf, be fore outside interests will render sub stantial aid. This fact has been cro,- pletely verified during the past rour months, and the price of cotton S now lower than in August.
 Real help for Southern farmer and allied business interests wi'' only come as a result Of the'r own efforts. No kind of emergency ho'' will be of lasting benefit The err plus must be retired and ;t should never leave the control of the grow CTS.
 First Business of Company. "The first business of the company when the initial capital has been sub scribed, will be to issue negotiable warehouse receipts for it's stocllhold- CTS against cotton held by them in storage, and secure loans at reason able rates of interest.
 "As the company grows in magni- tude and strength, t will be able to rapidly extend it's usefulness in this respect to every cotton growing coun- , ty in the South.
 'IJater on the company will i'm prove the cotton warehouse system all over the cotton belt, and perfect plans for advancing loans on cotton also for handling cotton and cotton seed direct to consumers; gatherina correct statistical data on supplies stabelizing the values of cotton and l cotton seed at fair and reasonable prices to the growers.
 Eighty per cent of the capital arising from subscriptions in every cotton county will be used for the benefit of the stockholders in that county, and when not so empiovef: such funds will be deposited in the i local banks to draw reasonable rate of interest In this way no cour'' will be depleted of it's resources Only 20 per cent. will be diverted to ] the headuuarters of the company which will be located at New Orleans Each stockholders will have but 1 one vote. This will forever prevent the control of the company setting into the hands of adverse interests The company will be strictly cooper atye in every respect and democratic in character.
 Administration of Company.
 "The administration of the affairs of the company will be in the hands of a board of governors elec.c1 ron the various cotton states by action of the local stockholders in each county.
 "This board will elect the officers of the company, all of whom must be residents of the South and interested in the growth gof cotton.
 "The Southern Cotton association through it's central headquarters at Atlanta, Ga., an dits state and county divisions, will actively solicit sub ] scriptions to the capital of the CO operative Cotton company.
 "In this commendable effort of the association it will seek the co-onera- ton of the Farmers Union and au other allied organizations and busl- ness interests of the South.
 "It is believed that the company can be organized and capitalized al cost not exceeding per cent of the subscriptions, which is considerably less than any large company has ever been organized in the 1n'Seo States.
 "The sole purpose of the Souther" Cotton association is, to again rendet