The St. Mary banner., 1919-10-25
COTTON CONFERENCE
REAL ORGANIZATION
Next Meeting in England
Officers Elected and
Resolutions Passed.

| conference came into permanent Or
| ganization Thursday when a report
| submitted by the committee on organ
| iZatiOn was adopted Sir A. Herbert
Dixon Of Manchester, England, chair
man of the British delegation to the
conference, was elected president, and
| the recommendation made that the
| next conference be held in England
in 1921.
Other officers were elected as fol-
lows:
General secretary, Rufus r. Wilson,
Boston; assistant secretary, Frank Ma
smith, England; treasurer for Euro
pean members, Sir James Hope Simp-
son; for the United States, W. Irving
Bullard, Boston; vice presidents for
the United States, Fuller E. Galloway
La Grange, Ca; England, Edward 3.
Orme and JOHN Smithers; France.
George Badern; Belgium, Count Jean
de Hemptinne; Switzerland, Herman
Bushler; Italy. Giorgio Mylius.
The recommendation by American
members of the group on financing
foreign credits and exports that con-
greSs place at the disposal of the War
Finance Corporation sufficient funds
to permit the corporation to finance
the expectation of at least 100000
bales of cotton was adopted. 1t was
pointed out that the government had
authorized the extension of $1,000,000
of credit to finance exports through
the agency of the War Finance Corpo-
ration. and the committee recommend
ed the purchase of foreign securities
against debentures which would be is
sued and sold in this country in order
to get away from short term banking
credits and stabilize rate of exchange.
Recommendations of the growers,
embodied in fourteen points, were
voted against in the general committee
because of the objection of certain
groups to several Of the points 1t was
agreed fully, however, that the rules
be suspended and that points in the
ously killed at the general committee
meeting be voted on AS result all
points in growers recommendations
were adopted except those condemning
gin compression, condemning gamb-
ling in cotton and other necessities;
recommending that tare should con.
sist only of the actual weight of the
ing closer cooperation between the
grower and spinner.
Foreign spinners objected to the
condemning of the sale of Gotten on
call, declaring it was necessary that
they should be allowed to purchase
their cotton in that way. The ginners
group objected to the gin compression
recommendation. Because gambling"
was not defined the bankers group
voted against that feature of the
recommendation, explaining that the
futures market was a necessary part
of the cotton industry and that dealing
Ill CUttOH luLuISS Idu Oltcu UG6u eldSS-
ed as gambling.
The recommendations of the grow.
ers' committee which were unanimous
ly approved after a suspension of the
rules follow
"Diversification of crops urged.
Country damaged recognized as an in.
excusable economic loss.
Storage warehouses urged
"Twelvemonth marketing system for
farmers recommended.
Formation of the American Export
Financing Corporation indorsed
Tagging of each bale with the name
and address of grower urged.
Opposing price-fixing by govern
ment
Opposing embargo and restrictions
on cotton in times of peace.
Demanding a price for cotton COW
ering cost of production and allow a
fair profit