Roanoke Rapids herald. [volume] (Roanoke Rapids, N.C.) 1914-192?, 1921-01-21
COTTON EXPORT
MOVE LAUNCHED
ANNUAL SESSION OF AMERICAN
COTTON ASSOCIATION GOES ON
RECORD ENDORSING EXPORT
CORPORATION.

CORPORATION.
Raleigh.-Delegates to the Second
Annual Convention of the American
Cotton Association held In Raleigh
January 18th went on record as unan.
imously supporting Z cooperative
marketing association and the newly
Organized Cotton Export Company. L.
8. Tomlinson, who has been at the
head Of the State Association during
the past year, was reelected Presi.
dent.
Over thousand delegates were in
attendance at the meeting which was
addressed by Richard I. Manning,
former Governor OF South Carolina,
Aaron Saplro. Attorney for the Cali.
fornia Fruit Exchange. and Hollins
Randolph, Attorney for the Federal
Reserve Board. sixth district.
Governor Manning dwelt at length
on the advantages that the Export
Corporation would offer Southern
farmers and Southern people gen.
orally. When the American Products
Export and Import Corporation was
organized about two months ago, Gov.
ernor Manning WIS chosen its Pres
ident Joseph Walker Of Columbia, s.
c.. formerly Of the cotton firm Of
Hollowell & Walker, Is General Man.
ager for the corporation. The
Corporation plans to stabilize the do.
mestic cotton maffet by shipping the
south's surplus staale to Europe. One
shipment has already been made and
others will follow very shortly.
OF considerable interest to the con.
vention was an address by Mr.. Sapiro,
who has had extensive experience In
marketing problems. He sketched the
work accomplished In California and
urged the St'te of North Carolina to
be one of ths leaders In the coop
erative movement. Mr.. Hollins RAJ.
dolph explained the difference between
the American Products Export and
Import Corporation and the bankers
export corporation. formed under the
Edge Act The Edge Corporation is
limited primarily to discounting and
cannot deal in commodities. whereas
the organization headed by Governor
Manning is actually buying and selling
cotton and the other chief products
Of The South.
A Statewide campaign In the intsS
est Of the Export Corporation has been
launched. and meetings will be held
In practically every cotton growing
county In North Carolina. Mr. l.. 8.
Tomlinson, President of the State As.
ISOLATION, has already arranged num-
ber OF meetings which he will address.
Wednesday, he will speak In Abe.
marie; Thursday, January goth, In
Troy; Friday, January 2lst, in Shelby;
and Saturday, January 22nd, in Ruth
erfordton. Mr.. o. c. Maner OF the
Export Corporation win also speak at
the Shelby and Ruthertordton meet
ings and Mr.. H. L c. Stevens. also
4 representative of the Export Com.
pany, will address the Albemarle and
Troy gatherings.
Realizing that the European coun'
tries are not absorbing anywhere near
the amount Of cotton they used to in
prewar days, Gotten men OF the
South have for months past been
looking around for way to remedy
conditions. Indications are that the
American Products Export 4 Import
Corporation will solve the question.
TO enable Europe to secure the cot
ton II needs, proper credit facilities
must be afforded and the Export Com
pany with its s., =, ..0vO capitalization
will be able to extend such credits.
Stock Of the American Products Ex'
port q Import Corporation is being
offered at SO per share and subscrip'
tons are being received In cash or In
ootton or Liberty Bonds at the market
price. The company's North Carolina
office is located in the State Agricul.
tural Building at Raleigh.
Endorsements of the Cotton Export
have been received from
sources. Governor W. P. G.
Of the Federal Reserve
Board and Governor NJ B. Wellborn
u the Federal Reserve Bank OF At
Ianta have come out In support Of the
program. Former Secretary Of the
Treasury, W. @. McAdoo, has en-.
iorsed the movement enthusiastically.
Among the North Carolina organisa-
lions that are actively supporting the
campaign are: American Cotton AS
Raleigh Clearing House,
North Carolina A. q e. College. Ell.
tension Department; North Carolina
Association Of Life Underwriters;
North Carolina Press Association;
Tobacco Growers Associa-
lion: North Carolina Association OF
Hosiery Manufacturers; Charlotte
Chamber Of Commerce; Rocky Mount
Chamber Of Commerce, and many
banks and prominent individuals.
The American Cotton Association at
ts meeting In Raleigh faced squarely
he fact that the total cotton exports
N the South had fallen of 1875 since