The dispatch-news. [volume] (Lexington, S.C.) 1919-2001, 1920-01-21

pared to furnish the association "
make up the 100000 bales.
DR.. Crosson also requests those who
canont come to this meeting and who
have such cotton to notify him as ear
4 II as possible.
CeL Mixson:s letter is as follows:
Columbia, S. c., Jan. Is, 1926
Dr. D., III. Grosson,N Leesville, S. c.
MY dear Sir:
We have an offer for 100000 bales
Of low grade cotton to be exported.
4ss Foreign mill representatives are
now in this country and are awaiting
cur action. We are asking for an
option on this cotton good until Feb
ruary 10, under following conditions
and terms:
Low rniddling cotton Al cents per
pound, z
strict good or linary cotton 80 cents
per pound:
Good ordinary cotton 81 cents per
pound.
Ordinary cotton s5 cents per pound.
These prices are net to the seller,
f. o. b. mis- shipping point. Cotton
weighed and graded at shipnipg point.
The terms Of sale are eighty per
cent cash upon delivery; twenty per
cent deferred payments. said defer
red payments bearing interest at six
per, cent and secured BY q syndicate
aof foreign banks, and guaranteed by
taetr govefnment All securities are
to be examined and approved before
any cotton is delivered.
These foreign mills through their
recognize that they
are asking for sonnet thing unusual In
reaniring an option on this cotton, al
SO in asking for twenty per cent de-
ferred payments, and in consideration
Of this they are willing to pay a price
substantially above the price for cot
ton as compared to the ruling prices
the open market. aG-
The officers Of the American Cot
ton Association realize that In a deal
OF this magnitude and on account OF
the unusual world conditions, it is very
s necessary to give these foreign mills
the options sought to enable them to
perfect sheir arrangements for hand
ling deal of this nature:
The mills to which this cotton goes
have been idle for years, and this ar
,rangement, if the holders of cotton
back it up, viii start these mills to
consuming cotton and relieve our
market Of low grade cotton.
As soon as>options sufficient are in
hand, we will begin to receive and
ship cotton. Ail,4s options. with a
warehouse receipt attached, or ':tne
equivalent thereto ,7should be depesit-
ed at a local bank which is authorized
to deliver thisteotton to the order of
j. S. Wanna maker, President, Ameri-
q can Cotton Association, only after the
I terms Of the option have been fully
complied with. The form of option
will be forwardea.to to you as: soon as it
is received FROM lawyers representine
the sbnyers.. 800 =. a.
+. therefore. :urge you to sec in per-
son the owners Of low grade cotton
and call meeting at your county
day, January 2ist, r ::at your county
seat, urging all holders of cotton to
: be, present and pledge every bale of
Z low grade cotton. in. your county for
this export shipment: Call their at
teItion to the fact that 80 per cent OF
our prices equals the price now being
paid for such cotton at interior points.
If anything stands in the way OF
5 your carrying out this program, please
advise US and do your best to arrange
to have a substantial citizen in your
county to act in your place.
Hoping that you will give this mat
ter your prompt attention, l am,
Yours very truly,
R. NJ. MIXSON,
: President South Carolina Division
American Cotton Association.
EAND BRINGS HIGH RENT ALSO.
Bennettsville Advocate.
We hear of land renting for 125
mounds of long staple cotton per acre