The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-09-04
COTTON MEN
FINANCE
Meeting in Montgomery of
, Great Importance
EXPORT CORPORATION is
...-, BEING CONSIDERED
Cablegrams Have Been Receiv-
ed From Central Europe Ask
ing For Cotton

Columbia, Aug. 30-At the Con-
Vention of the American Cotton ASS
ociation at Montgomery, Alabama,
September 1sr to 3Ed inclusive there
viii be held O. financial conference
Of 'tranScenCtng importance. The
Governors of the four Federal Re-
serve, Districts, Richmond, Atlanta,
S. Louis and Dallas and the Presi-
dents of the State Bankers Associa-
tion Of each of the fourteen cotton
growing States, together with a
special committee of twenty-five of
the leading bankers from each Of the
fourteen cotton-growing states, will
meet in special conference for the
purpose of arranging to put into eff
feet and force financial plans to as
sure ample credits for the pretec-
tion OF the South's greatest money
crop, cotton, and for the purpose Of
Arranging financial credits which will
bring full protection and relief to
existing conditions. ,r ..
The intense interest of the entire
world in the cotton situation in the
South is convincingly illustrated by
flood OF telegranIs pouring into Ma
startlingly illustrated By the delega-
tion. represe nting foreign cotton in
terests, coming across to America for
the purpose of a conference. DIR.
j ohm A, Todd, the great English econ
omist, recognized worldwide as an
authority on cotton, has notified the
officials of the Association that he
will reach New York on August 2Sth.
| A. h
DR., Todd at the Montgomery Con-
Ventton, where he is expected to de-
! liver an address. The great English
journal, The Manchester Guardian"
will have q. personal representative
at the Montgomery Convention and
has arranged special wire service for
the purpose of reporting the full pro-
ceedings of the Convention. x....
The formation of export company,
l(acceptrng cotton iii payment for the
stock,) is being endorsGd by out
standing leaders from every section
OF the South and by men recognized i
as leaders ina the financial world
| from various sections Of the nation.
1t has caused intense interest in the
cotton consuming centerS through
out the world, and especially in Cen
trail Europe where they are desper-
ately In need OF lOw-grade cotton.
Telegrams have been pouring in from
| every section of the South, making
application for stock in this corpora
tion. CablegranIs have already been
breceived from central Europe, making
application for purchase Of this cot
ton. and through their special
| representative in Central Europe, the
association has received the strong
| est endorsement Of not only
the represe ntatives of the manufact-
uring interests Of central Europe but
| of leading business men who endorse
in the strongest terms the movementto
furnish raw material to central Europe
| 1t being urged In the strongest terms
that no delay be permitted that raw
cotton, under this arrangement be
first allotted TO the different sec
tions, and that no preference be
shown in furnishing any special
country of central Europe where this
cotton is 50 desperately needed
One OF the biggest business men Of
the country, recognized as an out
standing banker, states. 81 endorse
the formation OF this corporation in
the strongest terms. 1t is in line with
the action c'f England where they ere
ated fnancial board which has re-
suited In bringing to Eagland a rec
ord breaking amount OF business. The
action Of your Association in form
ing this export corporation empha-
sizes more strongly than ever the tre-
mendous Importance of the forma-
tion of a Board similar to the English
Board, for, tn purposes of arranging
credits so (tha1 We can secure relief
and claim cur full share of the worlds
business which England is now reap
ing. The action Of your Association
viii be worth billions to the business
interests Of America. 1T has already in
oculated a spirit OF self protection
in MANY of the commercial lines and
will benefit not only the cotton in
dustry but the various commercial
fines Of America.