Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1920-01-23
READY TOISELLI
100000 BALES
Wannanaker Tells Far
mers How To Partici-
pate In Deal

ATLANTA, Jan. 23.-Announce-
inert IS made by President John S.
Wannamaker. of the American Cot
ten association, in Atlanta en- route to
a sEzte division meeting to be held
an New Orleans, that all arrangements
have been made to handle at once
500 600 bales of low grade cotton to
be shipped to Europe direct from the
haE5s of the seller. Orders for more
cation have been received which viii
be handled after the first lot has been
disposed Of.
Since the publication of the an
2euncement that such a sale was be-
ing arranged, the local offices of the
association have been in receipt of
Numerous offers from holders of cot
ton and inquiries in regard to the sale.
It has been decided that no options
ear be accepted that are not on regu-
Jar printed blanks that will be fur
Dished by the American Cotton asso-
Gistion on application.
1t must be understood, however,
thai an option does not constitute a
sale and that the association does not
obEgate itself to accept all options
reserved. While the cotton holder
vii receive only so per cent Of the
purchase price in cash, he will be CIV
en- certificate for the balance bear
ing 9 per cent interest, the negotia-
biliiy Of which has been arranged for
wiEh q prominent New York bank.
The Details.
8r Wannamaker's statement, ex-
planning the details of the plan, fol
Bows,
Concerning the direct sale of 300,-
600 bales Of low-grade cotton which
4he American Cotton association is
now arranging on the following
prices; Il cents for low middling, SO
Gents for good ordinary; 81 cents
for strict ordinary, and 35 cents for
ordinary, on the following terms:
eighty per cent cash as received, 20
per cent in certificates bearing per
CERT interest, fully secured by a guar
Gntee of banks, foreign governments
and other securities. The entire
&ransaction has been passed by our
1eading bankers and pronounced per-
8ectIy safe and bankable.
alt is necessary for the producers
of cotton who wish to perfect sales to
secure regular printed form options
from the American Cotton Associa-
zion, senate chamber, Atlanta, Ga.
These options give in detail all par
ticuiars. Cotton on which this OPP
tiOn is given must be in a warehouse,
fully insured.
The association is only trying to
handle one order of 100000 bales at
present. They have additional or
derE for low grade cotton, which they
expect to take up as soon as they sue
coed in completing this sale.
Association World Power.
~Only options filled in on the regu-
lar printed form can be used and it is
very important that these options be
secured from the American Cotton
Association, Atlanta, Ga, and exc
Suted promptly, as it is necessary to
save all the time possible in the COM
pIetion of this deal. 1t is conceded
that this is not only one of the larg-
est sales ever offected, but it makes a
Gozaplete change in the handling of
cation and in addition to this will
have a marked bearing upon all cot
Eoa now on hand: 1t is self-evident
that the American Cotton Association
mas become world power in the cot
ton industry.
"A committee representing foreign
manufacturers making the purchase
Of this cotton is urging the compile
zion of the deal with all possible
speed. All details have been COM
pleted, including financing and
transportation facilities. Upon the
completion of the deal, the buyers will
make settlement for the cotton as
fast as it can be graded and will not
require the necessary time to trans
part the entire amount, the cotton
being permitted to remain in ware
houses where it is now stored until
the entire amount can be transported.
1.-The options are self-explanatory
and give every detail. They must be
filed in as shown in the option and
ali Requirements, complied with; other
wise options cannot be handled All
options after being properly execut-
ed must be forwarded to the Ameri-
gan Cotton association, senate cham
her. State capitol, Atlanta, Ca"