The log cabin Democrat., 1920-11-17
BANKS TOSUPP0RT
 COTTON FINANCING
FORM EXPORT CONCERN
Conway Institutions Subscribe for Stock in Corporation to be Or
 ganized Under Edge Bill.

All three of the banks of Conway have subscribed for their proportion ate quotas of stock in the proposed Federal International Banking Con- pany, a corporation to be organized under the Edge bill for the purpose of promoting export sales of cotton, according to representatives of the To- cal institutions who returned last night from a special meeting of the Arkansas Bankers Association at Lit tie Rock. At the meeting, which was largely attended, important acticn was taken with relation to the agricultural conditions of the state The asso- citation went on record in support of:
 The finance corporation being or ganized in the south under the pro Visien of the Edee bill with a capital stock of S5,060,000 to promote the marketing of the south's crops.
 The plans and oajectiyes Of the Ar kansas division of the American Cot tion Association, which is being or ganized in every county of the state.
 33 1-3 per cent reduction in the cotton acreage of the state, the land thus released from cotton to be plant ed in food and feed crops. The great est discussion arose over the ques- tion of crop reduction. Nathan Adams, a Dallas, Tex. banker and president of the Texas division made one of the strongest talks of the meet ing and insisted that the bankers of the south must demand reduction in cotton acreage if the desired re- suits are to be obtained. After a thorough discussion of the subject, the following resolution, presented by w. A. Hicks of Little Rock, was unani- mously adopted:
 Be it resolved that we recommend the reduction of the cotton acreage in the state of Arkansas for the year 1921, 33 1-3 per cent, planting the reduction to food and feed crops and intensified farming on the entire acre age and that the officials of the as sociation endeavor to obtain pledges from all members to assist in their communities to bring about this con- dition."
 The resolution adopted on the sub- ject of the cotton association fol- lows:
 That we endorse the efforts that have been put forth by the officers of the American division of the Amer ican Cotton Association in their de- sire to organize the cotton farmers of Arkansas for their mutual protec- tion and profit. We especially con- mend to your serious attention the propaganda of statewide program to secure federal bonded warehouses and bonded graders and staplers, as being economically sound and calculat- ed to work out for the direct advan- tage of the producer"
 There were a number of addresses on the subject of the finance corpora tion and the project was endorsed en- Enthusiastically by every one present A large number of subscriptions to the stock was taken amounting to almost the entire quota of $400,000 assigned to Arkansas. These subscriptions were made with the understanding
 
 the total subscription received by the organization committee should aggre- gate at least $6,000,O0O by December 10, upon which date the subscription books are to te closed.
 More head Wright of Little Rock is the chairman of the state campaign committee for Arkansas. In the reso- lution adopted by the association, commenting the organization of this corporation, the following statements are made:
 We have concluded that there is urgent necessity for the immediate formation of this corporation and that our communities will be benefit ed greatly thereby and in our opin- ion stock in the company represents highly desirable and safe invest ment.
 We believe the operation of this company will stimulate foreign mar kets for southern products and make a marked advance toward financial self reliance on the part of the south.
 We recommend and urge that each bank in this state subscribe mini mum of the per cent of it's capital and surplus to the capital stock of the Federal International Banking Company and suggest the stock as a desirable investment to their GUS toners whose business would be bene-