Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-07-26
ANOTHER MILLION
PAID To MEMBERS !
Of COTTON COOP
Distribution Brings Payments
Up to "a Cents a Pound
With FinaIC Check Yet TO Be
Computed

-
Previous to making final settle.
ment, the Georgia Cotton Growers
Cooperative association is making
another distribution to all its mem
bers amounting to about $1,000,000.
This distYbution is at the rate OF
cents a pound on basis of middling
white cotton of 7-S to 1-inch staple,
and brings the total advance made
during the season up to "A cents
a pound.
The fifth and final Payment will
amount to about 2 cents.
Even before receiving the final
payment yet to be made, Georgia
farmers with this distribution viii
have received $40 to Is bale more
than the average price during the
dumping months last fall and $50
bale more than the price prevailing
when the 1922 crop first began to
go to market.
1t was expected that final settle
ment would be made with the mem
bers by July 81, which date marks
the end of the cotton year.
Judgment Rewarded
However, because of the heavy
decline in the market in May fol-
lowed by a bearish crop condition
report in June, the directors deemed
il inadvisable to sell during that
period. subsequently their judg-
ment was rewarded and in a better
market they We're able to close out
all cotton on hand for higher prices
than prevailed in May.
1--WE are glad to say that we have
sold all cotton without having to
make any sacrifices in order ITO
close out by a certain time and we
have completed our sales almost
within the time we expected it to
require to close the years business.
Our final statements will be mailed
out, with the checks for final pay.
ments, as soon as they can be made
up correctly" President ]. e, Con-
well says.
1.-THE cooperation of our members
throughout the state has made pos
sible the success of cooperative
marketing of cotton beyond the hope
of many of it's most arden advo-
Gates. While it requires time to
work out this system which is
bringing better prices to the grow
ers, it is gratifying to know that the
members are lending their best CO.
operation, thereby making their or
ganization a success"
CrOwell's Letter
The following letter from Presi-
dent Crowell will go out with each
check, explaining the present dis
tributiton and the plans for final
statements and final checks whign
will follow:
Enclosed you will find a cheek,
or a statement showing to whom
your check was sent. for &c per
pound basis middlinig, white 7-S-inch
to 1-inch staple, which will bring
the total amount advanced to date
up to 24c per pound basis middling.
Your check may run a little over or
a little under &c, according to the
grade and staple of your cotton.
eve hoped to make our final set.
Element in July, but in May when
the cotton spectators depressed the
price below Csc, we stopped selling
and held our cotton off the market
for about thirty days until it went
up again. We sold the cotton in
June, and, therefore, it will take us
practically all of July to wind up,
get the cotton shipped and collected
for. Since Christmas we have sold
most of our cotton for export and
when we do that we have to get it
rounded up and shipped to Savan-
nah to be loaded. 1t takes several
days to- get the cotton out and de-
livered at Savannah and sometimes
tits ten to fifteen days before a ship
arrives that We can load the cotton
on, and we have to have the cotton
loaded and get a port bill of lading
before we can collect our money
on it.
Another &c Likely
1.-THE last lot of cotton We sold
was odds and ends scattered at the I
different concentration points over
the state and we are now working to
get it all up and delivered so that
WE L0Il COllCCL VII IL anu pay dill
expenses, as this will have to be
done before we can know exactly
what the final settlement will be.
We probably will have
like another &c per pound
to pay TO the members, according
to the grade and staple of their
cotton.
1.-The board of directors in session
at their regular meeting last Thurs
day, seeing the circumstances and
seeing that it was impossible to
make the final settlement as early
as we expected, decided that the
next best thing would be to send
out &c per pound Immediately, and
then make the final settlement just
as soon as we could get all of our
collections in. This will be done
as quickly as possible, and we hope
this will be satisfactory to every
body concerned.
1--WE believe you will be interested
to know that we have signed up
nearly 10000 new members since
Christmas and are signing from 800
to 400 per day. If we have not been
in your territory with our campaign, y
you may expect our field service
men in there in a short time. These
field service men are working direct
~ for you, and when they call upon
you We will appreciate any cour-
-esies you may show them, for they
are the servants of the members.
Yours for cooperative mark citing,
81. E. CONWELL, IS
President-General Manager"