The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1921-09-20


WASHINGTON, Sept. 16.-Fin-
ancial support from the Federal
Government in the marketing of the
1921 Burley tobacco crop, through
the Burley Growers Cooperative
Marketing Association, organization
of which is now nearly completed,
was definitely assured Wednesday,
following several conferences be-
tween Representatives of the pre-
liminary committee of hurley growers
and Treasury Department officials.
Two important results obtained
from the conferences, which, accord
ing to the committee representatives,
guarantee the successful handling of
the crop by the association, are:
First, definite assurance given by
the War Finance Corporation that
if the hurley growers organize un-
der the proposed cooperative mar
keting plan, the corporation will
give any application made by the
association the same consideration
that already has been given to sim
liar organization of cotton growers,
advances to which have been in ex-
cess of SO per cent of the value of
the crop.
Second, presentation to the Fed
eral Reserve Board of a request
for ruling that growers drafts on
the association, accompanied by
weight tickets, shall be classed as
agricultural paper, and indications
of the officials that favorable reply
may be expected, which would en-
title such paper to six months credit,
rather than three months allowed
commercial paper.
Answers Last Criticism
Early in the afternoon, the delega-
ton representing the tobacco orga-
nizat1on held conference with the
Board of Directors of the War Fin
ance Cooperation, at the conclusion
of which confidence was expressed
that the Federal authorities are ready
to back the hurley cooperative mar
keting movement, being organized in
forty-one counties in Kentucky two
in Ohio and two in indiana, to the
same extent that it has been assisting
similar organizations of cotton grow
ers. This, it is held by the tobacco
growers committee, insures the fin
ancial stability of their organization
from all criticism.
Those representing the marketing
association at the conferences today
were:
Judge Robert w. Bingham, Louis
vile, chairman; James C. Stone, Lex
ington; William E. Simms, Spring
Station; James G. Wilson, Louisville;
Charles N. Manning, Lexington, and
w. &. Montgomery, Elizabethtown.
Statement On Conference
Following the meeting between this
delegation and the War Finance Cor
poration Board, Judge Bingham is
sued the following statement:
1.-The War Finance Corporation
held conference this morning with |
a committee representing the market
ing cooperative association now
forming to merchandise the Burley
tobacco produced in the United |
States, and after going over the plan
Of organization, stated to the COM
mlttee that the board had heretofore |
agreed to advance in excess of SO per |
cent of the value of certain crops, |
such as cotton, to cooperative mar
keting organizations formed on the |
California plan, this plan being the |
one adopted by the hurley growers,
and that if the hurley growers or
gan1ze under this plan and apply to
the board, they may expect the same
consideration given to similar appli-
cations, due regard being had to
general conditions, financially and
otherwise, and the proper organiza-
ton and management of the hurley
growers cooperative association"
Kills Doubt Of Success.
1.-THE War Finance Corporation
Board has assured US that the Burley
Growers Cooperative Marketing AS
ISOLATION will be given the same con-
sideration that these other groups
have received" said James C. Stone.
Lexington, vice chairman of the COM
mittee.
THAT is all we could ask for, and :
IN all probability is considerably more
than we shall need. The attitude
taken by the corporation officials re-
moves every possible doubt of the
successful financing of the hurley
growers through this association"