Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-03-10
ASSOCIATION WILL .
AVERAGE A GAIN Of
OVER $40. A BALE
Only About Half of Its Cot
ton Has Been Sold With
Price Rising Steadily.
Many New Members

Checks aggregating more than ST.
100000 are being written and will
be mailed out Saturday to the farm
er members of the Georgia Cotton
Growers Cooperative association.
These checks represent a payment
of 6 cents a pound, $50 a bale ON
cotton sold through the association
that has classed middling or better.
They constitute the third payment
to members, the total of which is
$40 Ga bale, or at the rate of 20
cents a pound.
One more substantial payment will
be made to members previous to
July 81, representing the net sum
accruing to each member on the
basis of the average sales during the
year of cotton in each grade sup
Piled by each member.
The association will have paid out
about $6,0OO,OO0 to members when
the checks now being prepared ara
cashed.
The first payment to members
was an advance of IL cents a pound,
$50 a bale at the time the cotton
was turned over to the association.
At Christmas second payment OF
cents pound, $40 bale was made,
q oh n11I ~
the cotton held by the association
had been sold at that time. The
third payment of cents a pound,
| $50 a bale, brings the total to more
than the grower would have got had
! he sold at harvest time last fall.
Under the weight of the annual
dumping, cotton which opened the
season at little over 20 cents, basis
middling, New York, slumped to Is
er markets in Georgia. 1t was at
| this time that members were turn
ing their cotton over to the associa.
ton while their unorganized neigh
bors were taking the market price.
Sold None Under 24c
The association sold little cotton
before Christmas. It sold none I'M.
der "a cents pound and has sold
more at 80 than at 25 and 26 cents.
While officials Of the association
naturally are reticent about the
amount left, it is understood that
practically half of the cotton turned
in is yet to be sold with the price
nearing 50 cents a pound,
The association does not hold for
set price. It's fundamental princi-
pie is to sell gradually and in keep
ing with the demand. 1t was un-
| able to sell any cotton during the
low prices last fall because it faced
the three months task of assem-
bling it's cotton into warehouses and
the forming of pools of even run
ming grades and staple lengths.
When it had finished this arduous
work, the market had recovered
from the annual dip due to the in
evitable dumping and the price
was around "a cents.
The rise in the market has been
steady since that time, although
marked by occasional reactions.
| 1t seems likely that should the
market advance no further than
the current price level, association
members will obtain an average
price of 26 or 27 cents pound
which is $50 or $35 a bale more than,
the price prevailing at the opening
of the season, and $40 or $45 more
| than the low price of the season at
which time so many farmers were
| forced to sell.
Delighted With Results
If, however. the market should
continue to advance toward 40 cents
a pound, the surplus accruing to
| members Of the association will be
much greater.
Officials of the association natural
| ly are delighted with the results al
ready obtained for it's members in
| teenth of the crop produced in Geor
| gia last fall, it has effected a gain
| for its members of more than one
and one-half million dollars, with
the likelihood that this gain will be
| greatly increased by the course of
the market during the remainder of
| the season.
Hundreds of membership applica-
| tons are coming in voluntarily, and
since the first of February more
than $500 new members have been