The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1922-01-16

penalty Of Eve cents per ponnd Win
he collected from any member who
fails to markee bis cotton through
the Association; an Injunction viii
be secured to prevent further
breach Of contract; and a decree
| will be also secured to require
specified performance Of the con-
tract. ill.,. .......
When Will the membership Mar
keting Agreement which the Asm-
bss signs be in effect? A. As soon
as enough members are secured to
make sure that the Association will
have as much as 100000 bales to
sol. -. ....
| What if less than 100000 bales
are secured7 A. If this Hunbss i
not secured by May /, 1922, all
members who previously signed will
be given a chance to draw out.
Those who do no draw out will get
back in cash the amount of their
membership fee that is still IN
spent. If, after AL who wish, have
withdr@w wn, more than 10000 bales
remain the Association must quit
right there, and the money remain
ing in the treasury will be divided
pro- rata among all members.
Who are the members Of the Or
ganization Committee? A. J. s.
Stark is the representative from
this county. ~ n
What becomes of this committee
when the Association is finally COM
pletely organized? A. It's members
step down and out and turn the
completely association over to the
directors who will be elected by the
members. ..r,.
Is the Membership Contract bind
ing when the Association is COM
pletely organized? A. It will be so
binding that the member must die,
move from South Carolina, or quit
growing cotton in order to get out
from under it. |f..,
Where does the member deliver
his cotton? A. Either to a nearby
warehouse or for shipment, as d-
rected by the Association.
Will there be a warehouse at
every shipping point?' A. Probably
not, though there may be one or
more in every county. 49,. =. ~
Whenlis the member paid for his
cotton? A. Part payment may be
secured as loan as soon as the
cotton reaches the warehouse and
is graded and classed, 80 that its
full vaue is known. This loan value
is the amount agreed upon with the
banks fox cotton of that particular
grade, and may vary according to
the current price Of cotton and the
seasonal trend of the cotton mar
ket. Further payments are made as
the cotton in the pool of particular
grade is marketed until the whole
pool is sold out .... ~.
Will the Association hold cotton?
A. Yes, if in the opinion of tie di-
rectors' and the sales manager it is
necessary. The Association IS not a
holding Association, however, and
its plain purpose is to sell cotton as
quickly as possible, and on the best
market. .. {.
What about remnants or parts OF
a bale? A. The member having such
remnant may sell it in the seed
wherever he likes, or he may buy
enough cotton to make up a bale,
and then market the bale through
the Association.
Will there be any local Associa-
tions? A. There will be informal
Local Associations with proper Off
GERS in every community or district,
as desired by members. The officers
of these Local Associations will have
the right to advise the directors OF
the State Association in all their
meetings.
When will the Association start
business? A. Not later than Octo-
Der 1st, 1922 and as much earlier