Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-06-05
ANOTHER MILLION
IS PAID To COTTON
COOP MEMBERS
Total Advanced to Farmers
in Pool Is Now p Cents a
Pound, With Final Pay
nent to Be Made

Members of the Georgia Cotton
Growers Cooperative association
are receiving checks representing
the fourth payment on the cotton
sold this season through the asso-
citation. The payment amounts to
approximately S1,0OO,OO0 and brings
the total paid to the members up to
s5.7S7,712.69.
The fourth payment is made on
the basis of cents a pound for
white midding cotton, and runs the
advance already made to members
up to % cents a pound, which is
more than the non-member farmers
OF Georgia averaged for their crop
last fall A fifth and final payment
will be made before July 81, at which
time the cotton year ends.
During the present season the as
ISOLATION has handled only about
one-tenth of the Georgia crop. Indi-
cations are that a great deal more
will be sold comparatively next year.
From February 1 to May 1 the as
sociation received 10000 new mem
Ders and contracts are being receiv-
ed at the rate of 250 a day.
The extension campaign has been
Carried on solely in south Georgia,
where the membership was small
last year but where the bulk of the
states crop was raised and where
conditions indicate the preponder-
ance of the crop will be grown this
year.
Officials of the association say
that with larger proportion of the
crop to be handled next season they
will be able to serve their members
more efficiently and economically
than in the first year in which they
have made a striking record.
The first payment to membe was
made at the time of delivery last
fall and was for II cents per pound
The second payment of cents per
pound was made in December and
the third in March for cents per
pound; all of which, including the
present distribution, amounts to %
cents. per pound advanced to mem
bers of the association to date.
on all cotton against which as
signments or mortgages were given,
the association is mailing the checks
to the mortgage, or assignee, as the
case may be. A statement of the
members account and the amount of
the distril ton check, however. will
H. Id H. DIV +1on
assignment or mortgage.
A number of members did not
draw any advance on their cotton
when they delivered it last fall and
have not given any assignments.
The distribution is not being made
to these members, because most OF
them requested that no payment be
made until final settlement. The Off
Gals of the association state that
any member in this class who de-
sired his advance has only to write
the association requesting it and that
check would be mailed Immediate
ly for the amount he is entitled 20,
on a basis of % cents per pound on
middling white cotton, on all cot
ton he has delivered.
When complete settlement is. made
q final statement will be mailed o
each mem. showing the exact
weight, class, staple and average
price received for every bale of cot
ton delivered.
Mr.. COnwell's Statement
In announcing the fourth pay
ment, J. E. Conwell, president of the
association, stated that all members
will receive another payment on
their cotton at the tine of final set
Element. On this point he said:
This is not a full settlement for
your cotton. The final distribution
will be made after we have sold all
the cotton delivered to us during the
past season and the average price
received for each pool is figured.
With your final check you will %
Ceive a final statement showing the
number, weight, class and average
price Of every bale you have deliv-
cred"
Continuing, Mr.. ConWell said:
1--WE are sure you will be glad
to know that Cur ,mbership ca =
paign is meeting with splendid sue
cess. You are assured of a greatly
increased membership for the COM
ing season, which will mean more
cotton handled with a corresponding
decrease in the expense per bale"