The Birmingham age-herald., 1921-11-01

The purpose of the company is to make possible the shipment Of Amer lean cotton to European nations who at present are unable to buy due to the difference in exchange between their monetary units and that of the Untitled States. It proposes to deliver to the European mills cotton, to su pervise its manufacture. and then. after the goods have been sold on | the worlds markets to make returns to the owners here at the least pos- sible cost
 Temporary headquarters have been provided for the company al 1909 American Trust building. Nil. Dobbs issued the following statement yes- terday, giving the purposes of the company
 "on account of the unfortunate | financial condition of central Eu rope, 1t has been for some time well nigh impossible for European spin ners to purchase cotton In the open market. Today It would take $500 Austrian kronens to purchase q worth of southern cotton. For some time 1t has been evident that new methods of marketing would have to be adopted. Various plans have been suggested and some of them tried out, with more or less indifferent success. More than a year ago plans were set in motion to ship cotton to central Europe under what has come 1 to be known as the Toll Pian," or, in other words, getting back to the old fundamental system of barter.
 "The first movement of cotton
 from this country to Prague oc-
 cured early in this year. The
 cotton that was shipped, some
 10000 bales, could not have been
 sold at the tintc of shipment for
 Sc per pound. Returns are now
 coming back to the owners of
 this cotton nt from 25c to 2Sc per
 pound, netting them more than l three times what they could have 1 gotten for their cotton had they
 sold 1t on the market.
 Foreign Offices
 "The Warrant Export and Discount corporation has established coRnec- tions in London, Liverpool, Vienna and Prague and will immediately begin 1 to assemble cotton for forwarding to i niIis in Europe where eott,Sn VIII be l manufactured under their supervision and in turn the goods sold on the worlds market and the returns made to Ln5 QWn6TS nSTc AL LHe l6dSt pOSSi- ble cost of handling; thereby elimf- hating all commissions, storage charges. brokerage charges and es- pecially circumventing the terrific load borne by the cotton on account of the price of the American dollar in the European markets. This will make the difference in exchange an asset rather than an expense to the American cotton grower.
 "The Toll Plan Is no longer an ex- pertinent It has been used in the disposition of other commodities and the manufacturing agents of the Warrant Export and Discount corpo- 1 ration; Freeman. Sumner and com | pany of London, are now busily en- gagged in disposing of the surplus flax accumulated by the British gov ernment during the period of the l great war.
 No New Idea
 The Toll Plan embodies no now ideas in bushes. but goes back to the old anti-bellum days. when the farmer carried his load of corn to | the little neighborhood mill where the miller ground it for a toll. The farmer had the corn and the miller had the mill and they got together on 1 a mutually profitable basis and the 1 result was the miller received a DOT | ton of the corn for his services and