The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-08-14
AMERICAN COTTON ASSN.

! The desperate efforts of the bear
interests 10 break the cotton markes
! on the eve of the new season, so as
to spread panic among the growers,
have been only partially successful
because the farmers who have adopt
e the slogan Of the American Cotton
Association have been stiffencd l..
their resistance to these influences
and have been helped by several in
cidents during the wea,; Just passed.
The first Of these was review Of
the situation issued by chairman W.
Z. Thompson, of the Louisiana Divis-
ion III which he pointed out the male
fic influences which had been brought
TO bear upon raw cotton prices just
at this time, and showed how the atti-
tude of the Federal Reserve Board.
! both in its summary of the situation,
and its withdrawal of credits, was con-
! triEutirg to the general depression.
| The first result f the publication, was
the issuance Of pronouncenent by
the Federal Reserve Board that it
had rot ordered member banks of the
Federal Reserve system to limit loans
on cotton, and as this was the first
definite statement along this line, it
had marked effect throughout the
South ard has caused al immediate
rise in the future cotton market.
Mr.. Thompson, in his review, point
ei out tina. low grade cotton was un-
nlerchaItable, and TIE more that was
added to the stock on hand, would
be used as a club to beat down the
price of the higher grades, so he urged
all farmers TO pick only The better
grades CT cotton, ard when the rainy
season SETS in, to turn their cattle in
to the cotton fields, ard not to pick
any mere, as this would be largely
damaged cotton or understandable
Gotten. This would save the farmer
the expense Of picking, and besides
remove liability. If generally fol-
lowed, this practice would relieve the
5ituatin, and limit the crop to the
5piHnable cotton, and at the same
time reduce the aggregate of the crop
a million CT two million bales. Ii
would transfer the statistical posi-
ton from the control of the bears to
= Tha riIa &C tba f.r.,,oc
/ This suggestion has already met
with remarkable endorsement from
ali over the south, among which was
a telegram from j. S. Wannamaker,
president of the American Cotton AS
sociation to the editor of the States
urging this view upon the farmers
Many letters have come to Mr.
Thompson, commenting the sugges-
ton, and promising to urge it upon the
farmers in their respective ccmmuni.
ties. Oklahoma, Arkansas, Alabama,
Mississippi, Georgia, and South Caro-
lima have been heard from and if the
movement takes hold, il means much
for the crop Of 1920.
Pointe Coupee Parish under the
! Craftsmanship of Hon. Sim Parent
held a big meeting Saturday at Mr.
gaRza, TO complete organization at
place, and arranged fer a general par
ISL meeting at New Roads, Sunday,
August s, at which Chairman Thomp,
! son of the Louisiana Division was to
be the main speaker. Pointe Coupee
is to organize warehouse company
Immediately, and put into practical
effect tae teachings of the American
Cotton Association.
Mr.. Thompson is scheduled to de-
liver an address on behalf Of the
American Cotton Association. August
10 before the Cotton States Mer-
chants Association in Memphis.