Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-06-14

in working out something on the mel
4 chandising plan. but, inasmuch a
Il financing is inseparable from mel
i chandising, they succeeded in work
ing out things on the financing plan
We have been in this business lon
q enough to learn, we have been in thi
business long enough to succeed. w
7 have learned the methods in finanC
+ ing, as we'll as the methods in actua
4 marketing.
1t Will Work With Tobacco.
Every one of the things have beer
saying to you applies to tobacco.
realize that while l have been talk
ing in reference to wheat, eggs, raj
& sins and things like that you have
4 been applying those things to tobacco
II have been doing the same thing.
8 have likewise been applying that t.
& tobacco. 1 have not applied that Il
Il tobacco in complete ignorance of YOU
tobacco problem. Before 1 went ovel
to the Virginia and North Carolina
: meetings 1 presented series of ques
s tions to the Virginia and North Caro-
4 lima people dealing with the tobacco
4 problem. That is how l found out
every bit of your methods of sell
4 ing, through how many hands the
produce moved and the system OF
financing through the banks. We
Z found the marketing data before any
opinion was given on the commodity.
want to say first that my general
8 conclusion is il is absolutely feasible
to organize the tobacco interests OF
the United States on the nOnperisll-
3 able commodity marketing plan, OH a
cooperative basis, with modern financ-
ing methods, and make complete
Il rrrn Of I1n huGTFaSC within a
4 Rod of three years. You cannot do
1t overnight, because you have had
! the wrong system for about 100
4 years. You cannot convert that thing
4 with one crack of your fingers. But
IL can be done. No matter when you
start, il is going to take a certain
period of time TO do it. 1 think the
tyear 1921 is going to prove the key
year for q whole lot of agricultural
problems. The farmer has been made
: to feel in a dramatic manner not only
how helpless he is, but how backward
This whole system is. There is no in
3telIigent method in it. L am not sure
<fllat the year I920-21 is not the great
Nest blessing the grower ever had. 1t
Ms a bitter sort of blessing. During
fthis year the grower may evolve a
Apermanent system through which he
Twill reap more benefits in one year
3than he lost in five years.
II suggest that we adjourn with the
2thought that the fundamentals of CO.
Cooperative marketing can be applied
Ito tobacco and I promise you there
His an application to tobacco and
! will make that application as soon
las we get together again.
Not ViOIative of Sherman Act.
A MEMBER-Before adjourning, is
4it not violation of the Sherman Anti
4Trust Law?
3 MR.. SAPIRO-No.
A MEMBER-Becau the farmers
hand laborers are exempt?
MR.. SAPIRO-Not wholly, because
1.-THE layman interprets the provisions
differently from the way the lawyer
docs. 1 am conservative. If you form
a cooperative association without cap
5ital stock and go out, and at the same
etime through your cooperative aSso-
sciation encourage a reduction cam
Hpaign, I would say it was violation
3of the Sherman Antitrust Law. You
are exempt from the Sherman Anti
thrust Law only as to your form of or
[ganization. AS to your operations,
ayou still have to be a merchandise,
mot man who prevents or solves a
DlODlt-lIl ny cil llllOlcil
means and restrictions.
A NEMBER-Have you read Ken.
&ucky's anti-pooling laws?
MR.. SAPIRO-Yes.
a MEMBERS that in violation of
That?
\ Mr.. SAPIRO-I believe not. I want
10 say incidentally wasn't asleep on
z-our pooling acts. 1 read them, Texas,
ARIZONA, Idaho, North Carolina, South
Earolina, North Dakota and some of
4he other States, all in this one year,
yhave passed laws under which these
associations can organize properly. l
WAS in hopes you would bring it before
4your Legislature, because if you do
Egou would find it the most perfect kind
.bf plan to be worked out. Incidental
fy, your cooperative law is not ade-
sluate. If you were to organize the
4 kind of association l have in mind for
Syou you will organize under the laws
<Df North Carolina, South Carolina or
Tennessee. You will have to take a |
State, because the laws in /!
Kentucky are not up to the laws in |
Some of the other States in that re-
gard. 1 am saying it without any |
criticism on your State group, because |
kour State laws as d whole are as sane |
7Rs you know they are. On this par |
Ricular issue your State has not kept |
In line with some of the other Com |
, mon wealths. But we will prepare |
law for Kentucky and count on you |
TO have Kentucky put itself abreast of |
The most modern farm legislation in |
america.
(At this point adjournment was
taken until 10 o'clock Saturday |
morning.