Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1920-03-11
GOVERNOR TO BE-
SUMTER'S GUEST
NEXT WEDNESDAY
Dorsey To Speak At
Court House At
3P. NJ.

NoFSIHor hugn h. DOTSey Will De
the guest of Sumter county on We'd
nesday, March IL. He will make an
address at the court house in Ameri-
Gus at o'clock in the afternoon and,
according to present plans, will spend
the night here.
| Information to this effect was re-
ceived in Americas today by the
Times-Recorder from S. J. Slate. of
Columbus, now in Atlanta, who is as
soclateed with Governor Dorsey in the
organization of the Georgia Cotton
Bank and Trust Company.
| Governor Dorsey will speak in
Americus on Wednesday, March II,
at 3 p. m. on the organization of the
Georgia Cotton Bank and Trust cor
poration and what it will mean"
wrote Mr.. Slate. "He will speak in
Buena Vista that morning and be in
Americus that afternoon, and | hope
very much conditions will be such
that he can spend the night in Am
ericus."
! The trip to Buena Vista and Am
erlcus will be made by auto from
Columbus.
We have secured subscriptions
close to a million dollars" said Mr..
Slate, but we have done this under
very heavy handicaps and have had
no one but the governor and my Of
flee to look after same. We are
looking forward to the Americus
meeting as of high Importance, as
Sumter county's allotment of 424
shares only 25 or 80 have been sub
scribed.
Object of Bank.
The object of the Georgia Bank
and Trust Corporation, according to
| the governors announcement, is to
/ do general banking and trust busi-
mess usually done by similar institu-
tions and as permitted by the gen.
eral laws governing banks and trust
companies. 1t can subscribe to the
stock of an export corporation.
This corporation will foster and
promote the agricultural and farm
ing interest of the State by bringing
the farmers and producers into clos
er cooperation in all matters relat-
ing to their welfare, and will do every
thing that legally can be done to pro-
mote scientific and cooperative
marketing of cotton and other farm
products. 1t should not only make
splendid dividends for it's stockhold-
ers, but should serve as a clearing
house for the farmers of the State.
! Through our agents, representatives,
! officials and stockholders scattered
/ throughout the State, the farmer can
/ be given accurate information and
data concerning crop, financial and
economic conditions of interest to
him.
! 1t will be member of the Federal
Reserve System. This, together with
/ the further fact that all banks in the
State will be under the supervision
of the newly established Bank Super
intendency, will inshre that the busi-
ness of the bank will be conducted
/ strictly in accordance with law and
sound principles of banking.
1t will enable the farmer to OBJ
tain more money and cheaper money
| By means of affiliated warehouses
throughout the State, it can material
! ly assist the farmers in caring for
! their products. 1t should be able to
transfer to this side of the water
| and to our own people all matters of
arbitration and grading. 1t will help
to cut out the middle man and put
out of business the cotton speculat-
ors of the east who have grown rich
at the expense of the southern farm
| ers.
1t should establish agencies in the
industrial centers Of Europe and the
east and deal directly with the manu-
| facturers.
The farmers of all of the Euro
pean countries have for years had
associations and corporations which
have done many things in the in
terest of agricultural people and all
of which would be duplicated by this
bank.
Plan of Organization.
This corporation is to be a bank
of 21,000 shares, selling at $125.00
per share; or, in other words, it is to
have capital stock of $2,100,000-
90 and surplus of $525, 100000. The
| law requires that an organization of
this character should start with
surplus. The capital stock is placed
at the figure stated because it was
necessary in working out the plan to
divide the State into seven divisions
and to allot to each division 5000
shares. Each of these divisions will
select two directors, making a total
of fourteen.
The stockholders of each county
meet at their respective county sites,
organize by electing a chairman and
a secretary and are authorized to Sc
! lect from one to five representatives
/ of the other stockholders of the 9TH
er counties in that division to select
directors.
The ALLEGATION of stock among the
counties is on basis of the number
of bales of cotton raised in each
county in the season of 1QilQ.IQ1fl