The Little River news., 1922-02-11
NEW COTTON PLAN
 PROVING A SUCCESS
Association Has Se- cured Good Prices for
 Its Members.

Little Rock, Feb S.-The Staple Cotton Cooperative Association of Mississippi in it's first season of oper- ation has proven success, it is de- clared in a pamphlet issued by the association, which has just been rec eived at headquarters of the Arkansas Farm Bureau Federation.
 The pamphlet, which describes the situation as it existed on January 1, says the association has sold 476,- AZ per cent of its cotton, but it is said that the amount sold now is more than 60 per cent
 Concerning the situation on Janu- ary 1, the pamphlet said:
 New Money Brought In.
 'The only fair measure of the liq- uidation obtained is the amount of new money brought in as result of the movement of the crop. Under the old method of dumping the cotton, government records over a period of wears show that GAS per cent passed out of the hands of the grower during the first four months of the season of which approximately 40 per cent went to the mills, the balance of 23.4S per cent passing into the speculators' hands. The 23.4S per cent was financ- ed through local institutions and the amount of new money brought into the territory under the old system an~ mounted to only 40 per cent
 up to January 1, the sales by the association of $9,S6S,222 represented 46.47 per cent of he value of cotton received; advances to members of $3,- 656 139 represented 17.22 per cent of the value The total of these two items, $13,524,361, is 63.69 per cent of the total value of the cotton received by the association as compared with 40 per cent new money brought in un- der the old system.
 "If members of the association had taken advantage Of their entire loan value, the association could have ad- yanced $5,6S6,500 or 26.76 per cent of the total value of the cotton received, which together with sales of 4647 per cent, would have given liquidation amounting to 1923 per cent.
 Criticism that the association was not securing quick liquidation has, in the main, been based upon specific in- stances where non-member may have disposed of his entire crop. This subject should be considered from the standpoint of the whole territory
 "A careful check of the movement of cotton has been made covering the period up to January l, and this check proves conclusively that proportion ately the association has brought con- siderably more new money into the delta than all other outside interests combined
 Good Prices Obtained.
 The pamphlet says that the asso- citation began business September 5, 1921, and that it encountered strong opposition from some sources It says that opening prices quoted by the as- sociation were considerably higher than the market and that although the association controlled only one-third of the new crop it has had a sustain ing effect upon the level of prices of staple cotton despite violent fluctua- tions in the market.
 It says that the first 10000 bales sold by the association brought an average net priOe of 35 Is cents a pound, and that the 56,60S bales sold up to January 1 were sold at an aver age price of approximately 34 cents. It is said that these high average prices were not obtained through sale of all the higher grades of cotton and that 22.3 per cent of the stock on Jan uary l was middling or better.
 In conclusion the pamphlet says: There is every reason to believe that with the additional baleage controlled next year, the information as to sup ply and demand and with the ex- perience of this year as a guide, that the association will secure results which will be given more satisfactory to it's members"