Durant weekly news. (Durant, Choctaw Nation, Indian Territory [Okla.]) 190?-1944, 1919-05-16
Export Corporation
Hopes to End the
Cotton Speculation

Cotton Speculation
Relief for the iung-suffeling cDt-
ton farmer of Oklahoma and other
cotton growing States from the ma
lncuvoring fillegitimatc spectators
in cotton, who have managed in the
past to force prices Up or down a.
viii to the detriment of the producer
| is in sight with the organization of
the 100000, 600 cotton export cor
pOra'ion. in the opinion of John a..
Whitehurst. president of the Board
| 0i agriculture. and observers of
the cotton market.
Plans Nrarl, Donr.
Tentative plans i1r the urGani2I.
tiun of this great corporation. which
has the sanction and approval of the
Federal Government. were made at
III" meeting of banKcrs. brokers and
farmers at Memphis several weeks
ago. and the finishing touches of
bringing thi substitution into 4 lead
ing position in the cotton market OF
'hc world will h" put on at Il meet
InS of representatives of al cotton
producing States to be held at New
Orleans May II.
Senator Robert L. owen Of Okla
homa, co-auth0r of the Federal Re
N"rv" Banking System. is one of the
leading figures in the movement.
Governor Harding of the Federal
Reserve System also is assisting in
p"rfecting the organization.
Speculation Ends.
men this organization is com
plete and functioning. illcgitimate
speculation in cotton is at an end,
and the farmer will be assured of a
fair price for his product" says Mr.
Nhltehurst. "At this time il is i'm
possible to estimate the value the
organization will be to the cotton
producing farmers of Oklahoma
alone"
The purpose OF the corporation as
outlined by Mr.. Whitehurst. who
represented Oklahoma in the initial
meeting at which tentative plans for
the great organization were laid, is
to handle the cotton crop of the Ma
ton in such way as will stabilize
prices for the benefit of the cOnsum-
ar and producer alike. 1t is not the
purpose of the corporation to buy or
D
on the markets of the world in a sa fe
and businesslike manner that will
insure the producer just remunera.
tion and just quality to the con-
sumner.
-. May BE Held.
One feature OF the contemplated
plans provides that when marketing
conditions are not such as to insure
a Just price and the carrying out of
the purposes of the corporation. the
product may he withheld from the
market until such time as favorable
conditions develop. the producer be-
ing cared for financially in the
meantime by the corporation.
The Cotton Export Corporation is
being organized under the act of
Congress known as the Pomerinp
act which created and vested the
war Industries Board with its
sweeping wartime powers in the
regulation Of ihe commPrcc and in
dustry of the country.
Stork of SfNo.usp .aVa.
1t Will hay" Il cnpitPl stock Of one
huh'r"d million dollars, of which
lil'y million will ne paid up at th..
mae II h"S!rs business. rms rif,y
iliiIi'h viii -" paid MP 'ntirnly ,
'.ihe''F R"nGN which are hring at-
''fi'' .'' .'"'E "a 90. ir N.r l:,c"
81 INV t.~.' i..!., ',.vp"'i-.
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