Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-12-23
CENTRAL HOUSES
GO IN POOL, TOO
Burley Association To Complete
Work of Obtaining Title To
Houses At Once
1Iiy Associated FressJ

sentIng practically a united front
the warehouscmen of the Central
Kentucky district today sigTfed a
contract transferring their plants
to the control OF the BurIey To-
bacco Growers Cooperative As
sociation under lease until the
corporation provided for IN each
of the four districts IN the state
can be organized. Full title will
pass to the association June 18th,
next. in the case OF the ware
housemen who desire to sell
Plants not for sale will be leaSc'
at a rental OF eight percent net
to the owners
Ratification of the biggest real
estate deal that has taken place
in Kentucky in a number of wears
i expected 20 be the chief bus.
ness of the Board of Directors o.
the Burley Tobacco Growers Co
operative Association when II
meets at Offices OF tie assoc alton
III Lexington this afternoon Al
! so O'Clock to pass on the con
tracts which the association l.
given control of practically al
the warehouses in the Euriev dis
trict
The warehou>emen of the cen
trail district will meet at the OF
fices OF the association, go South
Broadway. this morning AT nine
o clock Should the >ame meas
ureS OF success attend tn enego-
tiationS in the central district n
have marked the meetings in tbs
western ard eastern IL.
tricts of Kentucky and the OllIC
and Indiana districts. about u:
warehouses will be IN possession
OF the association tonight.
Estimates of the =aluc .! ths
to be taken over range
from S5.OO0.OC0 to S6,OOO.OOO. tne
latter figure generally being -
garded among well informed
real estate men wlo have beer
consulted a. the more probable
figure OF the two.
IS Houses Now Signed
Maysville. Ky. Dec 22-WheI
the meeting OF the warehouse
men of the Eastern Kentucky anG
Ohio districts closed here Thurs
day. Is warehouses had bee:I
turned over for the use OF ir
Burly Tobacco Growers Co-oi-
crativc Association n Kent Wk1
Ohio and Indiana. OF the
all but 10 are in Kentucky, OH.
turning over six and Indiana ?.
The meeting was held in TN.
office of the Mason County Farm
Bureau and within an hour -
Aaron Sapiro, of California. haC
the plan to the ware
housemen and read tine contra
30 houses had been turned ov,
to the association on the tnrc'
plans by means of which 1
are TO he compcI
,ated for their property.
Warehouse Manager Ralph NJ !
Barker was introduced BY jam
\. Kehoe. of the executive com
former Congressman and
head of a Maysvillc bank. lie
said that the association wa.
ready to do business with TIM
and that he die
not intend to make a speech an,
hoped that nobody else would |
make one" a it was time 10: !
business.
Mr.. Barker presented Mr.. Sa- !
Diro. The contract was read ant T,
he various methods of payrn: |
Tor the properties to be taker.
over. explained. !
Only seven houses in the tiIre.
Kentucky districts visited an'
he two in Indiana now remain.
the organization
OF the four options, not s,n-
gle warehouseman who signed
Wednesday chose to lease his pro
Derty to the association. OF the
.hree options in the method OIL
payment. a great preference was
shown for that which involves the
payment of one-fourth OF the,
agreed price in cash, and the re-
nainder in variable proportions
If preferred stock in the subsi
md in bonds issued against the
ncome of the corporation.
y few warehousenen chose the
method OF the association due at
intervals of two months over
period of two years The ma
ority of the warchousemen. how
.ver. did not indicate a choice
,ut agreed to notify the assocai-
ion of the method chosen IN the |