Arizona republican., 1918-12-19
SHOWS WAY TO \ READY MARKET
 IF LONC STAPLE
Boston Bankers Plan To Sell Arizona's S Cotton Crop
 As Wool Is Handle d
 Creates Much Interest

Intense interest in the marketing of local cotton has been stimulated by the presence here, for the last few days of c. H. Corey, vice president of the Peo- ples' National bank of Boston, Massa- chusetts. As a result of meetings that have been held in the various cotton growing sections a half dozen cars CT long staple will go forward from here to Boston right away.
 For ten years. we have handled eo per cent of the wool crop of Arizona upon the same basis that we now pro- pose to market your cotton, sald Alr Corey last evening. Our plan IS simple one, in which we appear solely as the financial end. The idea is that the producer here ships his cotton to Boston, drawing on us for 30 cents q pound through his local bank. We charge 6 per cent per annum on the money advanced and one-half of one per cent of the amount loaned as com mission Draft for the amount of the loan should be made with bill of lading attached, and the shipment made to our order.
 When the cotton arrives it is placed in warehouses in the name of the bank for the account of the shipper sampled, and reputable broker reports to tho owner what he thinks it will bring. The sale is never completed without the owners consent to the price. When the cotton is sold the bill is made payable l to the bank, which remitS the proceeds to the shipper, together with dupn- cate bill showing to whom the cotton IS sold and the price at which it is sold Cotton coming from a dry country to ho or1 weight and this gain is very often enough to pay a good part of freight, storage and insurance charges"
 In relation to the accretiOn Of weight. F'ranh H. Parker states that on one shipment he realized a total of $39 in l excess weight, accumulated in Phoenix between the gin and local market, on the basis of reweighing. It can be l imagined what the result would be in l shipping to damp climate.
 | We are not afraid of the market" | continued MT. Corey. We carried many of our wool customers over whole year, during slump in the mar ket so that when they did sell, they realized many times more than they would have, had they sold out on the decline. This is cited -~7erely to show that it isn't our idea to market cotton at once. As an instance of the profit that comes from selling in the manner 1 have indicated I might mention that We handle all of Tom E. Pollocks wool in the same manner and Mir. Pollock informs me that he made made $S1,O00 for one of his companies on the method, representing the differ ence between the price he would have secured, had he sold locally, and the prices he received from us"
 MT. Corey states that in normal times there is about twice as much Egyptian cotton imported into this country in q year. as is grown in the United States. tie says that the boil weevil has made serious inroads into Sea Island cotton, all of which, naturally, although unfor- tunately for Sea Island reacts with great profit to the Arizona producer.
 We sell right where the market is" 7" concluded MT. Corey There are 90 mills using cotton in the two cities of | New Bedford and Fall River alone. It IS the same proposition as with wool. The wool market is at our front door all the time. Our real reason for go- ing into the cotton market is that it will give us business during the season Of the year that wool is inactive. By the same method as outlined by me, the banks have financed the Egyptian cot tOH plouucJ, with the result that nearly three-fourths of the entire product of Egypt, about 1,25O,0O Obales, is handled in this way
 T have met a large number of your growers and explained our plans. nave had astonishing success. About a halt dozen cars will go forward at once and much more will follow. There is a constant market for your cotton and while am not in a position to make any predlctlons as to future prices. am confident that when the big mills or New England get back to normal on- erating conditions. there will be little criticism about the ability of our part or the country to take care of all the cotton we can get from Arizona"
 MT Corey will meet the cotton grow CTS Of Mesa at o'clock this afternoon TOT conference. A similar meeting was held at Tempe on Tuesday and ai Ioleson Wednesday, MT. Corey will leaVe for Washington, D. C.. tomorrow h'oht' where he will meet his family ana return to their Boston home. he , hopes, In time to eat Christmas dinner