Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-05-21
BROWN TELLS
OF GIGANTIC
COTTON PLANS

ATLANTA, May al. J. Brown,
commissioner of agriculture for Geor-
gia, today gave out a statement,
strongly endorsing the two great
movements launched by the cotton
convention in the city of New Or
leans. These two movements, as
stressed by Commissioner Brown, are
entirely separate and distinct from
each other, and should not be con-
fused. One is the corporation formed
to handle exports of cotton to the
foreign markets This is to be known
as the American Cotton Export FL
nanclng corporation. The other is the
association of cotton producers form
ed for their mutual protection and
benefit. This is to be known as the
American Cotton Growers association.
Commissioner Brown SETS forth, as
the first feature of his statement, the
aims and objects of the export cor
poratiOn. 1t will concern itself eX-
clusively with cotton for export to
foreign markets. 1t will have a CAPT
tai stock of $l00,000,000, all of which
must be owned and retained in the
cotton states. The directors will meet
in New Orleans in the next ten days
and launch the actual distribution of
stock and other details of organiza-
ton.
Its principal function" says Com
missioner Brown, with regard to the
export corporation, will be to furnish
the necessary financial credits to buy
ers of cotton in foreign markets. This
is quite essential to insure a contin-
uance of steady foreign buying, as
many of the foreign markets are i'm
poverished by the war. Continued for
to sustain the cotton market. Without
steady buying in the foreign cotton
markets cotton would slump and the
producers would suffer. Hence it is
plain that every producer of cotton
will be benefited by the export cor
pOratiOn They will be invited to buy
stock in the corporation and their Lib
erty bonds will be accepted in pay
ment OF their stock. By complying
with the provisions of the Webb-Pom-
creme act, the export corporation will
be able to secure financial assistance
from the federal government through
the federal reserve banks. AIDING
foreign buyers to purchase freely of
American cotton will keep them in the
market and maintain competition with
American spinners.'
Entirely separate from the export
corporation. stresses Commissioner
Brown. is the American Cotton Grow
ers' association. AS its name implies.
this is straight cotton producers
protective organization.
Its primary object" says Commits
sioner Brown, lis to enable the pro-
ducers of cotton to market their crop
at satisfactory prices. 1t will aid
producers in holding what is known
as distress cotton. Under present con-
ditions a great deal of cotton is put on
the market at forced sale. This Oper-
ates to hold down the price of the en-
tire crop The association will also
endeavor to secure uniformity of state
warehouse laws and regulations
throughout the cotton belt and to Sc
cure uniformity of cotton grading anc
warehouse receipts. 1t will place al
the disposal of the cotton producers
great central office where actual cot
ton in the hands of the producers viii
he listed for sale and buyers of cot
ton throughout the world will come
there to buy. 1t will keep complete
and accurate records of crop condl
lions. cost of production and all Other
factors influencing the cotton market
owned and operated by cotton produc
ers, its constant aim and object viii
be to secure for them price that vii
make their farming operations profit
able"
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