Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-03-24
OF
BANKERS ASSURES
REDUCED ACREAGE
By RALPH SMITH
(The Journals Staff Correspondent

1SfA1A& d 6uA44
(The Journals Staff Correspondent
MACON, Ga, March 23.-The atti-
tude of the banks of Georgia, and an
illuminating analysis of existing con-
ditions respecting last years unsold
cotton and the crop now being Guilt
waited, is clearly reflected in the an
swers to QUESTIONABLE sent to ev-
cry bank in the state by the Georgia
Bankers association. The answers
were disclosed this morning at the
first session at the joint convention
of the Georgia Bankers associa-
and the Country Bankers associa-
ton, by President H. Warner Martin,
of the former organization, in his
Introductory remarks. Il
The disclosures, on the whole, are
regarded by the bankers as reassur-
ing. They lend unquestioned proof
to the impression that the farmers
throughout the state actually are re-
ducing their cotton acreage and using
less fertilizer than in former years.
Many, however, continue to hold last
years crop without any definite idea
as to when or at what price they
will sell.
The QUESTIONABLE was sent to ev-
cry bank in Georgia, state, national,
big and little, and the replies, Presi-
dent Martin stated, were received
from practically every county in
Georgia. They are believed to repre-
conditions in the
state.
A compilation of the replies show
that 51.5 per cent of last years crop
remains in the hands of the farm
ers, and that of this unsold cotton,
335 per cent grades under strict mid
ding Of these who are holding this
cotton, Al per cent are disposed to
sell when the price reaches IS cents
per pound, while 40 per cent are
"just holding" without any definite
price or date of sale in view.
The answers show that 80 per cent
of the so-called lien merchants" are
now unprepared to supply farmers
without aid from the banks. and 70
per cent of the banks are not dis
posed to finance farmers who owe
money against their 1890 crop.
It appears from the replies that
the banks throughout the state are
insisting upon an acreage reduction,
and that they estimate there has
been an average reduction approx
mately 80 per cent with 38 per cent
reduction in the amount Of fertilizer
used.
Questions and Answers
The QUESTIONABLE apd the answers
follow:
1. Are the farmers in your coun
ty disposed to sell their 1920 cotton
on or before fixed date, or are they
holding it for fixed price?
Answer. Seventy-three reported
holding for average price of 1887
cents; 105 just holding, no definite
price or date in view.
2. What percentage of last years
crop is in the hands of the farm
ers?
Answer. SIS per cent.
8. What percentage of cotton be-
ing held in your county will grade
under middling.
Answer. 33.5 per cent.
4. Are the lien merchants in your
county prepared to run the farmer
this year without the help of the
banks?
Answer. Five. yes; IL in limited
way; 1872, no.
5. Will it be your policy to lend
the farmers in 1921 who owe you
against his 1920 crop?
Answer. Thirty-five, very limited;
), yes; $50, no; 10. On additional bona
flde security.
6. Where they do not owe you, are
You going to advance money to them
to grow cotton this year?
Answer. Seventeen, yes; Is, very
small extent; will insist on acre
age reduction and raising plenty of
food and feed stuffs; Sc, no.
z. If so, are you going to require
them to reduce acreage?
Answer-112, yes; IA, no; s, will
urge and advise it; A, do not an
swer.
Ito what extent?
AnsWer-45.2 per cent What do
you estimate the acreage reduction
Will be in your county?
Answer-39.9 per cent
3. How much will you advance per
ploW, exclusive of fertilizer?
AnsWer-46 do not answer;t24, I'M
decided; 10, very little, if any; 63
average $61.25 per plow; 80 none.
~ 10 what extent are the farmers
OF your county going to use COM
merclal fertilizer this year?
AnsWer-3S.3 per cent of amount
used last year.
10. Will you lend them money to
pay cash for fertilizer?
AnsWer-157 no; l yes; 8 very lit
tie; Z little where they have other
collateral than cotton; no answer.
Conditions Reassuring
Conditions in Georgia, as reflected
by the answers, are reassuring to
the bankers on the whole, as stated !;
but President Martins presentation
of the figures impressed them with
the difficulties that they must meet
and the obstacles they must over
come in the discharge of their duties
to the public.
There is no gainsaying that the
bankers are worried over the fact
that 81 per cent of last years crop
remains in the hands of the farm
ers, of whom 40 per cent are Gust
holding" without any definite idea
as to when they will sell. On the
other hand, they are comforted by the
information that there is to be a.
substantial reduction in cotton acre
age and the use of fertilizer, and
1t is their belief that with careful