The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1918-11-27
FARMERS WANT
QUICK ACTION
Cotton Holding Com
mitttee Will Meet
Wednesday
Manager of Orangeburg Mar
keting Association Suggests
Plan for Financing Farmers
and Holding Cotton Off the
Market.


Market.
Columbia, Nov. 25.-A meeting Of
the committee of 5 on the cotton
holding movement in South Carolina
will be held in the Office of Governor
Manning Wednesday morning at $50
O'Clock, at which time the governor
will give report of his efforts IN
Washington Friday and Saturday to
ascertain just what procedure will be
necessary to have the cotton commit
tees in the national capital, which IN
fiuence the cotton market, abolished
at once Governor Manning was in
structed by the committee at its meet
ing last Thursday to go to Washing
ton for this purpose. He returned to
Colurc hia yesterday.
The committee is also asking for
definite statement from the Washing
ton authorities if they intend to fix
the prices of either cotton or cotton
goods.
Several hundred farmers OF the
State met in Columbia last Monday
and pledged themselves to hold Their
cotton until the price advanced to 81
cents, middling basis. Simultaneous
" a central committee of Is was ere
ated to direct the movement. The
committee met again last Thursday
and dir ted several agencies TO help
in carr the message to the farm
ers The agencies which are to help
in the movement are the State Coun-
ell of Defense, the State Farmers I'm
ion, the extension forces Of Clemson
College and the department Of agri-
culture.
The personnel of the central COM
mittee are: Gov. Manning, chairman:
A. C. Summers, commissioner of ag-
riculture; w. CT. Smith, State ware
house commissioner; Capt. ]. H
Clafy, president Of the State Farm
ers' Union; W. NJ. Riggs, president
of Clemson College; W. w. Long, di-
rector of farm extension forces o:
Clemson College; J. Skottowe Wan
namaker president Of State Bankers
Association; V. NJ. Montgomery pres
ident Of South Carolina Manufac-
turers' Association; D. R. Coker
| lSGCSElIle. raul SCdl1oSiS, -SiSISt " :
(. Johns, AlIendale; DR.. w. c. Brown
Newbe4ry; ]. D. Harris. Greenville;
6. a Sheriff., Cheraw; a. j. A. Per
ritt. Lamar, and E. w. Dabbs, Mayes-
vile.
In connection with the holding
n? ?ovement, John F. Blanche, Inanag-
er Of the Farmers Cooperative Mar
keting Association Of OranSeburg
has submitted to the committee :
plan for 9. S5.oO0,O00 corporation t.
finance the farmers, which plan, he
says, is applicable to every Southern
State. He explains the plan as FOL
lows:
My plan is that there be formed (;
stock company with capital .o;
s. ,o"o. eco. divided into 10000 share:
of the par value of 800 each, and
that this capital be raised by selling
the stock among the farmers ana
business mon throughout each coun
", who are interested in sustaining
the price Of cotton. If the farmers
who have cotton, and those over the
entire State, who are vitally interested
in stabili5ing the price Of cotton
would each subscribe for IL few shares
in proportion to their respective inter
ests. there should be no trouble ir
raising this amount Of cash capital
The fact that such a company wa:
formed for the purpose of assistins
and financing the holders Of cotton
together with the borrowing capacity
OF such a large corporation, in my
70 n[N nf
great strength.
The proposed capital stock Of So
900. 600 will only amount to about S
per bale for all Of the cotton raised
in South Carolina, and with the mar
ket huctuation Of more than this
amount per day at times, 1t seems tf
me that all Of our farmers should be
willing to invest this amount in ar
undertaking which would have such
vital influence upon not only thei'
personal welfare but upon the finan-
cia1 strength Of the entire South.
'.The people OF South Carolina have
already invested in Liberty Bonds
about $50. .000,G and have purchased
ut least $40. 900, 900 worth of war say
inSs stamps and in addition lacgs
amounts have been raised for ell the
other undertakings connected with
the war matters. I only mention this
fact to emphasize that after all, in
view of the wealth and financial re-
sources of South Carolina, it is not
such a big thing to undertake q cor
poration with capital Of S3,o00.06o
We have all learned within the last
year or two to think and deal in sums
of large figures"