The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-09-10
American Cotton Association in
Session at New Orleans Sets
Thirty-Six Cents as Tempo
rary Minimum.
MARKET is UNCERTAIN
UNTIL PEACE SIGNED
Harvie Jordan Advocates Gin
Compression and Adequate
Storage Facilities Through
system Bonded Warehouses.

New Orleans, Sept. 9.-Report of the
minimum price committee adopted
today by the American cotton associa-
ton, provides temporary minimum
price of thirty-six cents each month,
until forty cents is reached for May.
The report stated that it fixed only
temporary price for cotton because the
price could not be based upon supply
and demand and that until the peace
covenant is confirmed European mar
kets be limited" this condition prac-
tically eliminating all cooperative
buying" The temporary minimum
price was adopted until conditions
warrant higher minimum"
Senator Hoke Smith, of Georgia.
denounced the federal census bureaus
present system of compiling cotton
statistics, which he said was that IF
using the estimates of the Cotton
Gazette of Liverpool, the Liverpool
Secretary Hester, of the New Orleans
cotton exchange. He said he would in
troduce a bill requiring the de-
partment to give the number of bales
of cotton ginned and mot an estimate
of how many are ginned.
1t was announced that the commit
tees recommendation was not be re-
garded as arbitrary. but merely to
help the farmer solve his present
problems. Governor Hugh Dorsey, of
Georgia, presided at the sessions to-
day.
After adoption of the report on cot
ton through system of bonded ware
resolution for the endorsement of Will
sons tour for the League of Nations
and for urging the senate to ratify
the peace treaty, and a proposal TO
set aside the two-t thirds rule was de-
featde As to Al.
Adequate storage facilities for cot
ton trough system of bonded ware
houses, the adoption of gin compress
sion and the organization of CO.
operative cotton marketing exchanges
were advocated by Harvie Jordan,
well-known cotton planter of Month
cello, Georgia, and a member of the
national organization committee of
the American cotton association IN
an address he delivered at this after |
moons session of the association.
In discussing the establishment of
county and state marketing exchanges
by which the cotton grower would be
enabled to sell his product directly To
the cotton consuming centers. Mr..
Jordan pointed out that there are no
in Europe and that CO.
operative organizations there have
met with marked success.
There are no middle men in Euro |
pean countries as we have them in
this country, preying and fattening on
the products of the farmers said the |
speaker. They have LONG since been |
outlawed in all the great agricultural
countries of Europe. and the modern |
system of protective, cooperative |
marketing societies has not only re-
suited in materially increasing the |
profits of the farmers but has cor
decreased the final cost
TO the consumer"
Mr.. Jordan outlined a plan for es-
legally chartered cotton !
exchanges, financed and
controlled by the farmers themselves.
Each cotton grower. he explained by
could subscribe for stock i
in such a company on the basis of 81
per bale for his average annual pro-
duction. This should insure a total
working capital of s15,000,00o, an
amount sufficient TO handle the mar
keting of every bale of cotton and
bushel of seed raised by the farmers
each year in the south.
This method of capitalization would
not entail any extra burden of hard
ship upon the growers" said Mr..
Jordan. because the bulletins of the
federal government inform us that the
average net loss to farmers on each
bale of cotton at the present time.
where the buyers are permitted to
grade the staple, amounts to from 81
10 81 per bale.
"A system of state or federal con-
-rolled warehouses; said Mr.. Johnson.
with licensed weighers, samplers. and
graders, and the issuing of receipts
Inder this system, would enable the
farmer to finance his cotton in stor-
age and market ii gradually, thereby
regulating the supply Of raw cotton
md maintaining the price OF the staple
It its maximum intrinsic value