The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1922-03-29
TOBACCO GROWERS MARKETING PLAN.
CONTINUED on page 81.

the association, the tobacco deliver
ed to II by and at the order Of the
association. Such service will be on
a non-profit basis, and the corpora
tion shall receive therefor only the
actual costs Of such operations and
a guaranty for amounts sufficient to
pay dividend of per cent on the
outstanding stock and to retire in
tach Of the five calendar years, be-
ginning with 1923, one-fifth OF the
preferred stock, or one class thereof,
and sufficitnt amounts for interest,
taxes. insurance, depreciation, bet
terment and commercial and sec
ondary charges, all as the directors
of the association may instruct, and
limit the corporation and not other
wise; and the corporation will issue
to the association common capital
stock equivalent to all payments
advanced for dividends, interest, re-
demption of stocks.
The corporation will agree to do
no buying or selling of tobacco what
soever.
Public Warehouses
ID Any warehouses shall be con-
\ Quoted as public warehouse, with
such charges as may be imposed
through an official body or with such
charges as are generally prevalent
in the district; and any profits made
from such operation as public
warehouse shall be utilized for pay
.ment of overhead expenses of the
corporation.
Cd The association will raise the
funds to retire each class Of prefer
red stock and pay dividends on stock
by deductions from the marketing
proceeds of the members generally
or within the respective districts in
which or for whose use or benefit
the warehouses, ETC., are acquired or
built and operated, as the directors
the Association shall be handled in
one major pool; and the minor
pools shall first be by type, then by
grade and quality within each type.
Association will Resell
6. The Association agrees to re-
sell such tobacco, together with to-
bacco of like type, grade and quail
ty, delivered by other growers un-
der similar contracts, at the best
prices obtainable by it under mar
ket conditions; and to pay over the
net amount received therefrom (less
freight, insurance and interest), as
payment in full to the grower and
growers named in contracts similar
hereto, according to the tobacco de-
1ivered by each of them, after de-
Quoting therefrom, within the dis
erection of the Association, the costs
of maintaining the Association and
of handling, grading and marketing
such tobacco; and of creating funds
for credits and other general COM
mercial purposes (said funds not to
exceed / per cent Of the gross re-
sale price, The annual surplus
from such deductions must be pro-
rated among the growers delivering
tobacco in that year on the basis of
deliveries.
Same Amount for the Same Type
The grower agrees that the Asso-
citation may handle, in its discretion,
some Of the tobacco in one way and
some in another; may sell some up
on delivery; may cure or process or
manufacture all or any portion
thereof, but the net proceeds of all
tobacco or tobacco products of like
type, quality and grade. less charges,
costs and advances, shall be divided
ratably among the growers in pro-
portion to their deliveries to each
pool, payments to be made from
time to time until all the accounts
of each pool are settled.
The Association may contract with
the owners of redrying plants to re-
dry and store tobacco delivered by
the members of the Association.
Tobacco Sold Where Most Profitable
8. The Association may sell the
said tobacco, within or without the
United States, directly to manufac-
turers or exporters OF otherwise, at
such time and in such form and upon
such conditions and terms as 1t may
deem profitable. fair and advanta-
geous to the growers; and 1t may
sell all or any part Of the tobacco
with or through any other agency
established for the cooperative mar
keting OF the tobacco Of other