Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1919-10-25
COTTON CONFERENCE
REAL ORGANIZATION
Next Meeting in England
Officers Elected and
Resolutions Passed.

New Orleans. lathe world cotton
. conference came into permanent or
! ganization Thursday when a report
submitted by the committee on organ
ization was adopted Sir \. 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 K Wilson.
Boston; assistant secretary, Frank Ma
smith, England; treasurer for Euro
| pean members. Sir James Hope Simp-
son; for the United States, W Irving
Billiard, Boston; vice presidents for
the United States, Fuller +. Galloway,
La Grange. Ga; England, Edward B.
Orme and John Smithers: France,
George Badern; Belgium, Count Jean
de Hemptinne; Switzerland, Herman
Bushler; Italy. Giorgio Myths.
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 1000 600
bales of cotton was adopted IL was
. nninsp1 that no ho 4
authorized the extension of 81 600 600
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
/ growers recommendations not previ-
| ously killed at the general committee
/ meeting be voted on. AS a result all
| points in growers recommendations
/ were adopted except those condemning
| the sale of cotton on call, favoring
/ gin compression, condemning gamb-
/ ling in cotton and other necessities;
/ recommending that tare should con-
sist only of the actual weight of the
bagging and ties of the bale, and urg-
/ ing closer cooperation between the
grower and spinner,
Foreign spinners objected to the
condemning of the sale of cotton on
.hey--ehauld- be. allowed TO. purf 81
| 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
in cotton futures had often been class
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 GOV.
ering cost of production and allow a
fair profit