Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-05-26
BANKERS ENDORSE
TOBACCO PLAN
For Marketing After Sapiro Elk.
plains 1t at Lawrenceburg--
What Jim Stone Says

-
What Jim Stone Says
Lawrenceburg, Ky. May g.
Members of Group s, Kentucky
Bankers Association, in session
here Wednesday. unanimously
endorsed the plan of cooperative
marketing of hurley tobacco as
outlined b.: Aaron Sapiro. Ca1ifor-
MIA marketing expert.
The motion to endorse the plan
was made by William II. Shanks,
president Of the Lincoln County
National Bank. Stanford, and for
mer candidate for lieutenant gov
ernor, and declared that in TIC
opinion Of the bankers it is feas-
ible to apply the plan in Kentucky
and adjacent states. The endorse
ment followed an address by Mr..
Sapiro which was received with
applause lasting for more THAN a
minute.
w. w. Peavyhousc, deputy state
banking commissioner, asked that
those who were supporting tie
cooperative plan place full details
in the hands OF the bankers af-
fccted.
J. c. Stone, Lexington ware
houscman and member OF the
committee named to forlnulat: a
marketing plan, said that 4 ,opy
Of the original speech Of Mr. Sa-
piro which was delivered in, Lou,s-
vile would be sent to each If the
bankers.
What Jim Stone Says
Madison county tobacco grow
crs are greatly interested i'll the
proposed cooperative marketing
plan about which SO much * be-
ing said i'll the state nowadays.
Col. James c. Stone. of Lcxing-
ton, who was born and reared in
Madison, explains the case cou,
cisely. and what he says VIII be
read with interest:
Mr.. Stone is now president nf
the Lexington Tobacco War;
house Association and a member
Of the Cooperative Tobacco Mar
keting Commission. He said IL
talking to the 9Th district bank
ers:
This is a subject that no- doubt
most Of you are more or less IA
miliar with, and it is the plan tha;
has worked successfully for ma
ny years in Holland. and for the
past 20 years has provcn4not only
successful, but highly beneficial,
to the fruit growers OF California.
1t is interesting to note that
the things that arc grown i'll the
ground and on the ground arcI
practically the only products to-
day that arc not using the coop
erativc method of marketing, and
there seems to be at this time a
worldwide effort for the farmer
TO put his house in better order,
and to systematic his business.
The first thing that appealed to-
me on the subject of cooperative
marketing OF hurley tobacco is
whether or not we need the
change. The present system
which we now have has practical
ly been in effect for the past 100
years, with little or no change i'll
the method of operation. AS it is
today the farmer who is raising
tobacco has absolutely nothing t,
say as to its value. As we al
know, he is not even i'll position
to ask price for it, and when he
brings it III to the looseleaf floors
and sells his crop. he really has
no correct idea as to whether or
not it has sold high or low.
We have approximately $4,000
growers in the hurley belt grow
ing hurley tobacco under the pres
cnt system, and the main fault
with this method of selling is
that each man is operating alb
solutcly independent of the other.
In my judgment, the best av-
cnuc OF relief for the growers is,
TO organize all association purely
cooperative, and obtaining not
less than Is per oent.of the grow
crs. Establish a uniform grading
system for all grades of tobacco,
and then sell through one head.
which will enable every grower to
get the same price as his neigh
Dor gets for each grade of his to-
bacco. Under the present system
we all know there is a big yari-
ancc in price every year between
the many markets that arc now
located in this district.
There is a great deal Of specu-
lation-tobacco being bought up
on one market and shipped to an