The central record. (Lancaster, Ky.) 18??-current, 1922-06-01
FINANCE
HEAD PRAISES
hurley POOL
Eugene Meyer, Jr. Spend:
Busy Day in Lexington on
Tour of Southern Mar
keting Associations


Lexington. Ny, May 25-Eugene
Meyer. .Jr., managing director Of the
war finance corporation, spent yes
terday in Leyingtp as the guest Of
the Burnley Tobacco Grower Co
operative Association. lunchei with
the officers aud directors % the as
ISOLATION. purchased three kentucky
saddle horses from W. VI. Jones 81
North MiddIc,own, delivered an adj
dres. on the aid given cooperative
marketing associations in the United
States TO an audience in the ballroom
~ the Phoenix Hotel. conferred with
Representatives 81 the war fnaneeI
corporation in Kentucky and left for
Chattanooga on tour % the South.
which will take him to Atlanta. and
will include a observation-disclosures
with Representatives Of cooperative
marketing associations In several Of
the southern states.
Mr.. Meyer declared before his
speech at the Phoenix Hotel that
even II the war finance corporation
had not full confidence IN the move
meni in Kentucky there would have
been no doubt on that score after
he had met the splendid men among
the leaders ~ the association and who
compose it, board Of directors.
President James c. Stone presided
at the afternoon meeting az the Phoe-
nix hotel He paid tribute 90 Judge
Robert W Bingham n the 'obacco
growers friend Judge Bingham was
cheered for a minute before he could
introduce Mr. Meyer. the audience
rising.
Judge Bingham Speaks
Judge Bingham told II the meeting
% the growers at Elizabeihtown
Monday He said he had been told
that similar conditions existed IN all
the other counties. tina, the growers
are satisfied. and that they would
not return to the old way % selling
He said that the war finance corpora
ton had been Of immense aid to the
hurley growers, not only in aiding in
the financing Of the second payment
in part. but in the credit securing
10 the association from the backing
~ such an institution as the war
finance corporation in the orderly
marketing Of its crop.
Mr.. Meyer. in his address. said II
was probable that the war finance
corporation would be continued for
another year and said that recommen-
dalton had been made by his Office,
in connection with pending legislation
that would liberalize the attitude Of
government financing toward the ag-
rieultursl producers.
Mr.. Meyer was accompanied by G..
c. anderson, Of New York. general
counsel for the finance corporation,
and Floyd r. Harrison Of Virginia.
assistant to the managing director.
He was met at the station by Presi-
dent Stone and Judge Bingham and
spent the morning visiting places Of
historic interest in and about Lex
ington and seeing the famous race
horse. Man o. War. at Hinata farm.
ApSroves Co-opsrative Plan
I'VE have loaned millions Of dollars
to cooperative marketing asSocis
atoms" said Mr.. Meyer. "and our
relations with them have been salts
factory in every way. The business
requirements Of the war finance cor
poration have been met by them like
the best and oldest established cor
porations in the country.
II believe that cooperative mar
keting has been the salvation Of the
southern cotton situation, and hope
II will do as well for the tobacco
growers as II has for the cotton pro-
ducers
There is no better collateral for
loans than good American staples.
when properly warehoused and prop
erly inspected on reasonable valu-
alton. Not only are they good eoAat-
eral for 30 days. in my opinion, but
as long as may be necessary for pur-
poses % orderly and gradual market.
ing"