The herald and news. [volume] (Newberry S.C.) 1903-1937, 1915-01-05
COTTON CORPORATION
ENDORSED BY NEWBERRY
DR. WADE STACkHOJSE MAKES
PLAIN AND PRACTICAL TALK
The Farmers and Business Men Hold
Meeting to Discuss Cotton
Situation.

TSSDOuS
C. Z. Summer, as president OF the
Newberry Cotton association, there
was a fairly good attendance OF TAR
mers and business men at the meeting
IN the court house on Saturday at i
o'clock. Mr.. Summer on account OF
pressing engagements could not be,
present but the meeting was taken
IN charge of DIR. W. C. Brown.
DR.. Wade Stacknouse, Of Dillon, who
has devoted a great deal Of his Tune
and means to an effort to help the cot
ton producer and who was on ardent
advocate of total elimination made a
plain, practical and sensible talk on
the cotton situation and explained the
plans of the proposed cotton corpora
ton. This plan has been already eX-
plained in The Herald and News and I
seems to be a feasible and pracuca
plan. DR.. Stackhouse said that he hep
plan. DR.. Stackhouse said that he hop
ed there would be lots o; optimism IN
1915 amongst all classe OF our people
He said that he attended meeting III
Washington in August and our con-
sressmen and senator's, told US about
the benefits to be derived from the
A1drick-vreela8d bill by which the
southern cotton planter was to get re-
lief. Nothing came OF this after
wait of thirty days or more. linen
the beauties of the regional banks
were pointed out and finally the banks
opened on the 18th of November but
yery little or no money has been sent
down South to relieve the cotton pro-
ducer. Then We had the Wade plan
suggested and it got into the hands OF
the regional board, and it was founa
that after going through lot OF red
taoe a loan at 1-2 cents pound
might be secured on cotton. In tac1
Dr Stackhouse thought U2at the far
mers had been handed three very
sour lemons, on all of these matters.
He thought that total elimination was
the plan that would have resulted III
much help but that now was an ac-
adenic question. He would say,
however, that Dr. Howard OF the ted
eral department of agriculture had
made the statement that total eilml-
Anation would have blotted out the boil
ieevil.
He said that cotton had ranged IN
ice for the last hundred years
bonn 4 cents a pound to s1.O2. We
ave been looking for some sort OF
Plantation by which to find a solu-
ION that would give some sort OF
stable price and for Iorty years the
Warmer has dreamed of some sort OF
4 cooperation to handle cotton direct
Esfrom the farmer to the spinner. he
&said that the cotton corporation was
Arying to form company with capt.
al of one hundred million dollars
with that idea in view. He then out
ned the plan of tae organization anG
aid the sole object would be to handle
n #Fhtton and cotton seed. He thought
cooperative plan for marketing
was one that appealed to him. He
said that this plan had been submit
ted to the business men and flnanc1ers
of the money centers of the East and
West and t2at they all agreed 1t was
feasible and practical and that they
would be willing to help the cotton
producer if he showed a disposition ID
help himself. He thought that about
ten million bales of the present crop
was still unsold and that if tins COM
many was organized one fifth OF II
would be taken from the market at
once, but suppose We can't get more
than a million dollars. If we haa
one million dollars subscribed the
company could be organized and ne
mad assurance from Mr.. Joseph Nor
wood, a prominent banker in Colum-
bia, that money could be obtained
through the corporation on cotton at
reasonable rate of interest and it
could be held off the market until
prices were better.
He hoped tGat they would be able
to carry a large portion Of this cot
ton beyond the planting season be
cause it seems almost impossible tc
h restrain the Southern planter rom
@ planting cotton if ne believes that he
tan get at least 8 cents pound for It.
He said that the other plans sug-
Wgestad had not been run as business