The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1920-10-28

was fortunate to get for its head the
."war governor of South Carolina, a
man of character, determination,
ability and wide and important busi-
ness connections. He said that when
the representatives Of humber of
states discussed the proposed cor
poration Mr.. Manning was instantly
and enthusiastically named by every
one as the proper one, perhaps the
only one, who could lead this organi-
zation to success in all states
throughout the cotton belt.
The organization in South. Caro-
iina is being formed through the as
slsrance of the farm demonstration
agents in the respective counties,
llie ana lire underwriters and Others
Mno~ neIpeu Ill the Liberty loan
url,es. Tnis organization is not al
trulslIc but is a business PROPOSE
,4on, yet IN way the freedom OF
the business interests OF the South
Is InsoNea ana great deal OF pa
tilUlic interest has Deen manifested.
II Is uut Tie purpose or this cor
polaLlUn To reIIecI upon any o.
persons urIo encourage a feeling, OF
uesponuency among the people, DuI
" organize along business lines ano
go atler the business. That 1t has
met with suitable response Is SHOW Ii
III the TACT InaI Win Ii OF the 40
counties hot YET reporting, the re-
SUIT VI the drive on rne isin OF Uc-
tober was more than $6UU,UVU pleog-
eu III casn, cotton and LiDerCy Donus.
This assures the success or the uA
oerIaklng tor South carolina Will
easily OBTAIN her quota and there is
no reason TO beneNe that otner
states will not follow suit.
. Governor Manning was particular
ly gratirled with the action OF the
banks in the city or sumner, his
former home. They have taken fur-
mal action TO permit farmer TO sub
SCRIBE 80 much or his cotton as STOCK
IL, the corporation and then place the
stock with the bank lor collateral III
lieu OF the cotton. If the plan were
followed through the South, II
would De an easy matter TO get up
a capitalization of tnat amount.
Ten Million Wanted.
The capital stock OF the company
Will De prorated among the cOuton
sruwlng states The shares are
SlV eacn, payable in money, Liberty
uunus or co.uon at. the market price.
Inc primary OBJECT is to move out or
tnis country and into. the hands OF
european spinners a vast lot OF low
grace collon In the South that is not
iueslted by the American mills. A lot
OF TINS cotton mas been offered as
lstock In the corporation and Will be
received. The owner stands fair
chance to get good prlcve for his
cotlon and 10 Bet "a alvidend upon
Ills STOCK.
Governor Manning is so well as
sured of the sound business prln-
clpies upon wnlcn the organization Is
quit tnat he mas decioed to put
slu,vUU INTO the stock and other bus
mess men in the state are putting In
amounts running from $l,U0O up
waros. And the stock subscription
lisIs contain hundreds Of names or
small farmers VINO can. afford oniy
one share but wish to help, the organ
izaCion on to success.
The stock in this corporation may
be and should be subscribed to by
es cry business man in the South, re-
gardless OF whether or not he grows
pound OF cotton, for the reason that
the prosperity OF the South Is ae-
pendant upon the oroerly marketing
oil cotton and other farm products
and fair price therefor. This cor
poIation proposes out Of its profits
Io pay s per cent. dividend and OF
the remaining profits to pay half
as a patronage dividend" to the
person, firm or corporation furnish
ing business for the corporation. The
olner half of the surplus will 60 to
the regular stockholders and the
, patronage dividend" will be re-
,, served and placed to the credit OF
the person or firm furnishing the
business until it accumulates the
value of the stock when it will be
issued as a stock dividend. This is
done to encourage the cooperativee
marketing work which is being pro-
NOTED on large scale in the South.