The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-04-19
The Proposed Cotton
Corporation
$1,000
a4t =
1t viii Be a Business organiza
ton And Will Help Farmers

s~lI w Ill De q bftSHeSS OFSdiiiZd-
ton And VIII Help Farmers
St Matthews, April 14.-That the
Organization of foreign exporting
corporation with ca pital stock OF
Slse. 100000 along the line proposed
at the big cotton meeting at Memphis
last week will bring to the South a
complete change in business methods
lis the opinion Of j. Shottowe wan
I nanfaker, chairman of the central
scon1naittee of the South Carolina Cot
Ton Association, who has just re-
turned from the Memphis meeting.
speaking today of the new corpor-
alton, Mr.. WannanlaSer said: 1T will
Elace the farmer in touch with the
markets OF the entire. word; it will
bring competition into the market; it
will break up and absolutely destroy
"a concentration of the buying power
! in the hands Of few, which has
9argeIy resulted in one buyer for
cotton in each place, who has bought
sat his own price; it will furnish fnan-
ciaI Irelief to the farmer, it being the
function of this corporation to export
cotton, to furnish buyers and sellers
for cotton, to have agencies in all Of
the cotton buying countries of the
sssosid to put the seller in touch with
the buyer; to furnish financial aid;
to cooperate with and assist other eN-
porters.
This corporation will largely ful-
sfilI the place in the exporting world
and 60 axlarge degree in the banking
Morla. to the South, that the Federal
EesefEe Bany now furnishes to the
nation. Investment in the stock OF
this corporation will be taken in cash
s or Liberty Loan bonds, and I feel
convinced that while it is. not the OBJ
ject to form this corporation for the
purpose OF earning large dividends to
sflae stockholders at the same time
tine stock viii certainly prove a safe,
sound business investment, will bring
direct cash returns. and will bring
tremendous indirect returns to the
investor and the entire South. The
capital stock will remain in the
hands of those who are vitally inter
esaed in ali that concerns the best IN
terests of the cotton producers.
Committees are now actively at
work making a special study of plans
and details. The corporation will be
I orsanized with all possible speed.
Stock viii be sold through the banks
and various other agencies"
Chairman Wannamaker declared
5 that reports at the Memphis meeting
Indicated that the South was thor
ougflIy organized in the acreage .e.-
anction movement. "As. a result o.
not only close personal inspection and
zinvestigation throughout a number OF
the leading cotton States, he says,
ebut as result Of additional person
al interviews With representatives
from every section of each of the cot
ton growing States, I find that the
campaign FOR reduction of cotton
acreage and the holdins of cotton Tor
renunerative prices is succeeding
spiendidly throughout the belt The
cotton asseege for 1918 will certainty
shows s4he biggest reduction in the
fss 80 years People are thorough
l@ aroused toSthe situation and III
sanany sections they are cutting cotton
seven beyond 33 s1-3 per cent. The
campaign among the farmers in some
sections to discontinue. after this
year, all orders to the West for Srair.
hay and other food crops is making
{ headway-''
find" says Mr.. Wannamake..
That preparation is at least i've
weeks backward practically through
out the cotton belt. Labor conditions
are extremely acute and people from
! boil weeyil sections say that on ac-
count OF the mild winter the weevli
VIII be extremely destructive this
4 year A record kept of returning sol
diers reveals the fact that only per
cent Of the white soldiers are return
ing to the farms and only small
proportion of the negroes are salts
fed with rural conditions.
The reduction in the use Of COM
mercial fertilizer on cotton, find by
a personal investigation throughout
the part of the belt using fertilizer
will be truly tremendous, at least 80
per cent
Mr.. Wannanaker urges the farm
ers to hold to their cotton. He de-
cIares that any man who sells his
cotton at prevailing prices is should
ering upon himself a tremendous loss.
There is not" he says, "a better in
yestment in the country today r:1an
to buy off grade cotton at the pres
sent prices. Cotton is selling today
far below the. price it will bring
when the world realizes the true
conditions in cotton belt and the ac-
tual reduction in acreage. The acre
age reduction movement is partly re-
sponsible for the recent advances and
when the crop is planted and it is
seen that the acreage has really been
reduced, expect to see the market
soar
Worn:rm To