The Birmingham age-herald., 1921-11-16
N [ W MOVE MEN I
 ID MARKET COTTON IS WELL UNDER WAY
War Finance Corporation Loans Fifteen Million Dol- lars to Assist In Move
 ment of FleeCy Staple
By Associated Press

Dallas, TeXaS, November 1b.- Changes in the cotton marketing system are being affected by the Growers Marketing associations now being federated into the American Cotton Growers exchange, according to c. o. Moser secretary of that or ganization.
 Texas, Oklahoma. Mississippi and Arizona are the charter members of the organization and are all four marketing tHeir cotton successfully through cooperative associations this year. according to MT. Moser.
 North Carolina has completed It's state organization and Is said to be ready to affiliate" added MT. Moser. Organization of growers associa- tions is being rapidly completed in South Carolina, Georgia, Tennessee and Arkansas, while the preliminary work is being done in Alabama and Louisiana. The above named states include practically all of the cotton area of the United States. Final, completion of the organization of the entire south Is expected before March 1. 1922"
 Magnitude Of Movement
 Some idea of the magnitude of the movement may be obtained from statement made by Walton Peteet, OF fha fa in which he said that the Texas Farm Bureau Cotton association, a member of the exchange, had as much cotton to sell as any five cotton firms in the world. He further said that this cotton was all graded and classed and ready for immediate delivery Oklahoma cotton growers have or ganizations similar to the one in Texas and almost as great in size and importance. The Texas association has received to date in the neighbor- hood of 100000 bales of cotton, ac. cording to D. G. Hill, Jr., secretary of the association. In pursuance of it's plan to market in an orderly fash ion throughout the year only about 17,000 bales have been sold so far.
 Walter L. Trout, sales manager says that he has been able to obtain for members of the Texas associa- tion from two to three cents a pound more than street buyers have been paying. This amounts to from s10 to SIS a bale or above $200,000 increase on sales already made. Should the same ratio be held on the 10000 bales already received it will amount to more than SLIPS, ,0000. The cotton is still being received, however, at the rate of from 1,S00 to $500 sbales day at the Dallas office, and no one is able to tell at the present time the total amount of cotton which the as- sociation will finally handle this year.
 MT. Moser says the association has advanced to members more than SI. 900, 900 to date on more than 50,000 bales of cotton, although it is said that less than half of the growers are asking for advances. Forty dollars bale is now being advanced to the growers upon delivery of their cot ton to the association and prior to the final sale.
 Large Advancements
 While no accurate figures on the cost of selling the cotton can be given until the end of the selling season 1t is estimated that it will not exceed S1 per bale. Handlins charges such as sampling, weighing, storage, etc, are not included in this estimate, made by Liberals.
 The association, according to MT. Troutt, is saving money for it's mem bers. through the prevention of in- discriminate sampling and by proper ly warehousng to prevent weather damage. The assoc,aion chasing rooms are said to Se the largest in Texas and the graders are handling from 2,0oo to 2,500 bales per day.
 Recognition of the business stand ing of the Texas association was given by the War Finance corpora tion when 1t loaned s15,o00, 900 to as- sist in the movement of the cotton. Texas banks followed immediately after by announcing an acceptance credit of $1500,000 and offering a cash loan of s500,00o which has since increased to over s1.000,000.
 The work of handling the incom- ing cotton has become so great tha. it has become necessary to have night and day shifts for the employees. One set of clerks goes to work at in the evening and works until 6:s0 in the morning. Many members of the day force work from S:30 in the morning until 10 o'clock at nigh. The office employs 125 persons.