Fitzgerald leader enterprise and press. (Fitzgerald, Ben Hill County, Ga.) 1921-1964, 1921-05-09
PLAN FOR COOPERATIVE
MARKETING COTTON CROPS
Continued from Page y
warehouse.

warehouse
7. Any grower failing to deliver
cotton to the Association in accord
ance with terms of this contract is
obligated to pay the sum of Sc per
pound as liquidated damages for the
breach of this contract. He is also
bound to pay all expenses arising out
OF or caused by the litigation and any
reasonable attorneys fees expended
or incurred by it in such proceedings;
and all costs and expenses shall be
included in the judgement and sh.,.
be entitled to the benefit of any lien
securing any payment thereunder.
l. Three State Associations may
unite in the formation of an overhead
sales agency known as the American
Cotton Growers Exchange
Z. The Exchange snail be formed by
Trustees signing an agreement. Each
State Association shall elect one
Trustee for every two hundred and
fifty thousand bales or major portion
thereof, covered by the standard mar
keting agreement of the respective
Association.
3. The Exchange shall create. an
Executive Committee of five persons
to carry on the business.
a. The Exchange shall organize by
the election of a Chairman. Vice
Chairman, Secretary, and Treasurer.
). The Exchange shall supervise all
the inspection, grading, chasing and
warehousing, transportation, process
Ing of the cotton delivered to the I'M
dersigned Associations; and shall sell
and market for and on account of the
undersigned Associations, all of the
cotton of the Associations not sold
directly by the Associations them
selves.
g. The organization plan for the
overhead sales agency provides for
the creation of twelve departments
to handle the business of the organi-
cation. All functions of the State as
sociations are under the supervision
of the Exchange.
7. Each Association is to maintain
its own inspection and grading forces.
8. Each State Association is bound
to support the general sales agency
IN proportion to the amount of bus
mess transacted by and for it.
9. AT the completion of the sales
OF the cotton delivered in any crop
season, the Exchange shall calculate
the equalizing amount which every
particular grade, quality, color, char
acter and staple length of cotton
should have received; and settlement
shall be made, through the Exchange
between each and all of the Associa-
tons on this equalizing basis, regard
less of the amounts previously paid
to the Associations through the Ex-
change or by the Associations to their
respective members.
(b) Each Association agrees that
all payments are made and all moneys
received and distributed by it subject
to this obligation to equalize the pro-
ceeds.
10. All expenses of the Exchange
shall be borne by and pro-rated from
time to time among the undersigned
associations on the basis of the gross
proceeds of the cotton of each crop
season sold by each of the Associa-
tons, directly or through the Ex-
change or otherwise; and the Associ-
atoms agree to pay such proportionate
share of the expenses of the Exchange
ii. The pro-rating and apportion-
ment of expenses as determined by
the Exchange shall be conclusive.
NOTE-The above are the essentials
OF the plan. Many of the minor de-
tails are not discussed.