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SOUTHERN STATES COTTON CORPORATION
OUTLINES PLAN OF OPERATION.
Organization. (1) Thegeneral office of this Corporation is
located in Macon, Ga. . , _ . , .
(2) There will be co-operative and general offices in each of
the Southern States, located at the most central places for the hand
ling of the intra-state cotton business.
(3) There will be a county organization in each of the cotton
counties of the Southern States, which will consist of a secretary, a
chairman, and four vice-chairmen, who will act as agents of this
Corporation and through the respective secretary’s office all local
business will be handled.
Capitalization. (1) The capitalization of the Corporation at
present is authorized as follows: One Million Dollars of voting
stock and Six Million Dollars of Participation Certificates.
The Object of the Southern States Cotton Corporation.
The Southern States Cotton Corporation proposes to obtain for the
cotton grower of the South 15c per pound for cotton, basis mid
dling, and proportionate prices (above and below) for other com
mercial grades of cotton.
The Plan for Carrying Out the Object of the Southern
States Cotton Corporation. The plan for doing this covers,
first: organization in as many counties of the South as possible, and
it is believed that this organization can be made to cover the entire
list of the cotton counties. The organization will consist of six
citizens in each county, comprising a secretary, a chairman, and
four vice-chairmen.
The duties of these agents will be: first—to keep the general
offices of the Corporation well informed as to the acreage, fertiliza
tion and condition of the cotton crop and such other general infor
mation as would assist in making up data as to the probable yield of
any particular crop.
Second: Their duty will be to have as many as possible of the
cotton growers in each county to commit themselves to put their
cotton in the hands of the Southern States Cotton Corporation for
sale on and after August Ist, 1912.
In order to accomplish this the Corporation proposes to issue
contracts which will be known as “Selling Certificates” to every
cotton grower, for which he will pay SI.OO per bale for all cotton he
proposes to sell through the corporation. On the other hand, the
Corporation in this Selling Certificate guarantees to get 15c per
pound for middling cotton for the purchaser of the Selling Certifi
cates. This 15c per pound being payable as follows: 11c in cash,
and the balance (4c) in 6 per cent interest-bearing scrip.
It is necessary for the Corporation to know as soon as possible
how much cotton it will have to dispose of—so it has arranged the
.“Selling Certificate” to begin at SI.OO per bale for all certificates
bought between January Ist and March Ist, and at intervals of two
months thereafter to increase this charge one quarter of a dollar
until Sept. Ist, when it reaches its maximum of $2.00 per bale.
This arrangement was not made for the purpose of collecting
more money from the farmer for sate of his cotton, but because the
longer the delay in putting the cotton in the hands of the Corpora
tion for sale the shorter time it will have for organization and the
greater expense it would incur.
This Selling Certificate, or contract, is used in order to deter
mine beforehand the amount of cotton the Corporation must be pre
pared to handle. You will find in this article a copy of our Selling
Certificate, which enters into and explains fully the proposition. It
is well, however, to add that in fixing the cash price at 11c per
pound for cotton, it was found, upon personal investigation, that
11c was about the average cost of cotton. This price, of course, in
cludes labor and fertilization, also taxes and interest on the invest
ment, therefore 11c was used as a basis for cash payment of cotton,
and it was believed that if the cotton grower could get 11c per
pound in cash (or its equivalent), then he could well afford to keep
the surplus produced if its value could be put in the form of an in
terest-bearing investment.
With this idea in view, the price of 15c per pound has been di
vided into two sums. First, 11c per pound in cash, or 6 per cent
interest-bearing certificates, payable in ninety days after issuance.
Second, 4c per pound in interest-bearing certificates, which in the
the event the farmers of the South raise 10,000,000 bales of cotton
—or 4,000,000 more than are supposed to be required at present for
the world’s needs—this surplus would be carried as an investment
in the form of a 6 per cent scrip or interest-bearing notes.
This simply means that the cotton growers themselves had in
vested all of their profits in raising cotton in this scrip which they
could use for collateral, or for any purpose, just the same as if it
were stocks or bonds of any Corporation. Thus while the farmer
would be holding his cotton off the market, he would be drawing
interest on its value, whereas, if he were holding it at home or in
warehouses (as formerly) he would, in the first instance, be losing
interest on the investment and in the second, interest on the in
vestment, together with warehouse and insurance charges.
Suppose the world’s needs are 12,000,000 bales, and the South’s
production is $12,000,000 bales—under this condition the farmer
would get 15c per pound for middling cotton. 11c of this amount
would be paid immediately, or in 0 per cent interest-bearing scrip,
payable in ninety days, just as the farmer elects, and 4 cents
would be issued in 6 per cent interest-bearing scrip, which scrip
would be redeemed as soon as the cotton was disposed of to the
mills, as then the money received from such sale would at once be
subject to the order of the owner of the scrip.
Suppose, however, the world’s requirements to be 12,000,000
bales, and the South’s production is 13,000,000 bales, there would
then be a surplus of of 1,000,000 bales, and in order to maintain the
price of 15c per pound on cotton, this surplus would have to be
taken care of and stored. No one except the farmer is directly
interested in maintaining the price of cotton at 15c ner pound,
therefore, he alone can be expected to take care of and hold this
surplus from the market.
The Southern States Cotton Corporation, by its system, has
worked out a plan by which farmers can not only keep this surplus
off the market but can carry it as investment without loss and with
a reasonable interest on their money. For every million bales rais
ed over and above the requirements of the world, it will take lc per
pound on the total number of bales to carry the excess million bales
—so that if 13,000,000 bales are produced, the farmers can expect
to get only 14c per pound in cash before the end of twelve months;
if 14,000,000 bales are produced, he can expect 13c in cash within
the following twelve months; if 15,000,000 bales are produced, he
can expect 12c in cash within the following twelve months; if 16,-
000,000 bales are produced, then only 11c in cash during the follow
ing twelve months.
The Southern States Cotton Corporation will take off the mar
ket the surplus cotton and will have issued against it scrip or notes,
bearing 6 per cent interest, which can be used as any other first
class collateral or notes may be used, since this scrip will be issued
*on actual cotton held in store by this Corporation in bonded ware
houses.
To put the matter before you more concisely: The proposition
of this corporation means that it will put the cotton raised in the
South to two good uses, i. e. Ist: it will put into the channel of!
trade as much cotton raised in the South as the world requires for
its consumption, and at a price which gives only a fair return on its 1
cost; 2nd: it will withhold from the trade of the world all the cot-!
ton not needed at a fair price and will make cotton so held the basis ;
of investment or money.
THE SELLING CERTIFICATE.
Consideration paid.
$ Southern States Cotton Corporation, Macon, Ga.
This Selling Certificate issued this day of 191—, by the
Southern States Cotton Corporation, a Corporation existing under
THE MONTGOMERY MONITOR—THURSDAY, FEB. 22, 1912.
the laws of the State of Alabama, for brevity hereinafter referred
to as Corporation, to of county, State of , for brev
ity hereinafter referred to as Holder.
WITNESSETH, That for and in consideration of the acceptance of
this certificate by said Holder, and the mutual benefits to be de
rived hereunder, and for the further consideration of one dollar
' ($1.00) if paid after the first day of January, 1912, and before the
■ first day of March, 1912, or one dollar and twenty-five cents ($1.25)
if paid after the first of March, 1912, and before the first of May,
1912, or one dollar and fifty cents ($1.50) if paid after the first of
May, 1912, and before the first of July, 1912, or one dollar and sev
enty-five cents ($1.75) if paid after the first of July, 1912, and be
fore the first of September, 1912, or two dollars ($2.00) if paid af
ter the first of September. 1912, and before the first of January,
1913, to the said Corporption for each five hundred pounds of cotton
herein contracted about; said Corporation hereby guarantees and
obligates itself to sell for the account of the holder of this Selling
Certificate hereinbefore named, for not less than fifteen cents (15c)
per pound, pounds of cotton, (the price of fifteen cents (15c)
herein fixed is upon the basis of middling cotton and the price to be
actually obtained shall vary according to the grade of cotton actu
ally delivered) to be delivered to said Holder after August, 1912.
Upon delivery of said cotton said Corporation agrees to issue to
the Holder hereof cotton scrip in even denominations as follows:
Eleven cents (11c) per pound in cotton scrip maturing at a fixed
date from issuance by said Corporation and bearing interest from
date at the rate of six (6) per cent per annum, which scrip said
Corporation obligates itself and agrees to redeem at its face value
with interest at maturity, or without interest on demand at any
time after its issuance and before maturity; and four cents (4c) per
pound in cotton scrip issued by said Corporation and bearing inter
est at six (6) per cent per annum from date of issuance, which lat
ter scrip, or a part of it proportionate to the amount of said cotton
remaining unsold at the beginning of any ninety-day period, is re
newable for ninety-day periods at the option of said Corporation,,
upon the payment of accrued interest for and during the periods
that said Corporation holds said cotton or any part thereof.
All cotton delivered hereunder upon which said above scrip may
issue, shall be stored in warehouses under bond to the Corporation
and the Corporation guarantees and obligates itself to sell the said
pounds of cotton for the account of the holder hereof at such
price as will redeem in full principal and interest all scrip issued
hereunder.
It is further agreed between the parties that said Corporation
alone is to have absolute and complete control of said cotton deliv
ered hereunder by said Holder and may sell the same for a sufficient
amount to redeem in full principal and interest, all scrip issued
hereunder and pay all storage and insurance charges and a reason
able commission to said Corporation, and after the redemption and
payment of said scrip and the interest thereon and the payment of
all storage and insurance charges and a reasonable commission to
said Corporation, the said Corporation shall render the overplus, if
, any remaining, unto said Holder, and it is also understood and
i agreed between the parties hereto, that the said Corporation for the
purpose of protecting this contract may hypothecate the said cotton
for an amount not less than eleven cents (11c) per pound.
It is further agreed between the parties hereto that this Selling
! Certificate is not assignable, but it is a contract between said Cor
poration and the Holder named herein and no other person,
i IN WITNESS WHEREOF, The said Southern States Cotton
Corporation has caused this Certificate to be signed by its President
and its corporate seal to be affixed hereto by its Secretary at its of
fice in Macon, Ga., this day of , 191
Attest Southern States Cotton Corporation,
By
Secretary. President.
These certificates can now be secured by applying through J.
B. Brewton, Secretary for Montgomery county, at Montgomery
County Bank, Ailey, Ga.
HOW FARMING IS
LIKE RELIGION
President Barrett Says Every
One Must Work Out His
Own Salvation.
Union City, Ga., Feb. 15. —
President Barrett of the Farm
ers’ Union in a letter to officers
and members, asks:
“Did you ever hear the good
old exhorters and revivalists tell
you that you must work out your
own salvation?” “Well,” he
says, “the same'principle applies
to successful farming, and to the
success of farmers’ organizations
in securing the reforms for which
they are contending by legisla
tion, and with their own ranks.
“There is no such thing as en
listing in the battle of life and
then paying a substitute. If you
do, you’ll either have to be satis
fied with short rations, or wake
up some morning and find that
the substitue has walked off with
the bacon, the Carnegie medal
and the laurel wreath. It would
be just like you then, to growl
that the world had given you a
‘cold deal. ’
“I lay it down as a broad, first
principle, that we’ve got to learn
to manage our own affairs,
whether on the farm or within
the organization, before the world
takes us with the degree of seri
ousness our numbers and our
importance to the world really
justifies.
“If you demand of your repre
sentative, for instance, that he
vote for the recall, or trimming
or trimming the New York Cot
ton Exchange, and he passes your
! place and sees the chimney tum
! ling down, weeds in your fields, j
! and just a few razor-backs root-1
ing around, he isn’t apt to get
busy and obey your orders.
“If you elect as your Farmers’
Union officials, or the president
of some union enterprise, some
oily, smiling, hand-shaking, baby
kissing brother, just because he ;
Keenon—Sellers.
Married on the 14th inst., near
Kibbee, Ga., Mr. Florence Sellers
to Miss Leona Keenon, Judge W.
B. Hilton performing the cere
mony.
Mr. Sellers is a splendid young
man living in Kibbee, and num
bers his friends by the score.
Miss Keenon is the daughter of
the Mr. Keenon of the Kibbee
section and is a handsome and
intelligent young lady. We be
speak for these young people
a happy marital voyage. X.
Notice to Public.
My son, Walter Gilder, a minor,
having left my home, this is to
warn the public against hiring
him. This Feb. 5, 1912.
W. H. Gilder,
Alamo, Ga.
STRAY HORSE.
Strayed from my place last
Thursday, one large bay horse.
Information as to his whereabouts
will be rewarded. Notify
J. F. Currie,
Glenwpod, Ga.
is these things, rather than for
the fact that he has proved him
self a good farmer, a good busi
ness man and a good leader of
men, you are evading your share
of personal responsibility, and
you have no right to complain, if
things hit the ceiling. Or, if you
get into the hallelujah-lick at a
meeting and promise to support
almost any old enterprise sugges
ted, and then go home and forget
all about it, you needn’t come
around with the hypocritical crit
icism that there ‘isn’t anything
in a farmer’s organization,’ and
that you’re not getting your mon
ey’s worth.
“These are just a few instan
ces of thd need of exerting per
sonal responsibility, if you suc
-1 ceed in your own affairs, am] if j
i you would have this organization
achieve the end for which it was !
founded. It is well to remember.
|them at the beginning of the!
!new year.” I
I New Troughs Service via !
SEABOARD AIR LINE R»Y. |
PULLMAN SLEEPERS ’
]! On night trains hetwnon Savannah and Montgomery, making !
!j connections for all principal points EAST and WEST. !j
ii SERVICE WILL HE ESTABLISHED SUNDAY, NOV. 26th '
jj ON FOLLOWING SCHEDULE:
ji 700 AM 600 PM Lv Savanoah Ar 900 AM 885 PM i
! 742 AM 618 I’M Ouyler 8 lit AM 745 PM !
i 862 AM 758 PM Hagan 707 AM 684 PM ;
;! t* 20 AM 825 PM Collins 647 AM 610 PM ;
jl 10 06 AM 912 PM Vidal la 602 AM 525 PM !
:: 11 25 AM 10 85 PM Helena 440 AM 408 PM
!■ 12 66 PM 12 08 AM Pitts 807 AM 236 PM j
|: 185 I’M 12 40 AM Cordele 280 AM 140 PM ;
; 1 3 lit I’M 200 AM Americas 115AM12 32 PM !
i! 405 PM 255 AM Richland 12 20 AM 11 32 AM 4
11 640 PM SIT AM Ft Davis 952 PM 848 AM ;
|| 815 PM 0 :>n AM Ar Montgomery Lv 880 PM 720 AM j|
;[ These trains will carry first class coaches and the night trains ;!
I Pullman high class twelve section drawing room sleeping cars. |j
Bast or West the Way that's ficst. j
R. 11. STANSELL, A. G. I‘. A., j
Savannah, .... ... Georgia. |
O. B. liyan, G. P. A., j
Portsmouth, ....... Viroina. 1
TX eposits Insured
Against Loss
'
00 00 No Matter from What Source it May Come :|;
0 0 © ©I
| Wo sire constantly adding new ij;
I accounts, and our business is increasing ;
I® at a very satisfactory rate.
Possibly you also might be glad to
join us.
THE PEOPLES BANK
NO TEUTON, GA.
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\ Vidalia Warehouse Comp’y J
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J Standard Prick Warehouse —Bonded
► VIDALIA, GEORGIA. i
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► ©0 ©0 0 © G'o o'o'o ©0(000 00/0/0/0/00 i
> 1 p? j
£ 0 Bring or ship us your cotton. Our 0}
L M surety bond guarantees the delivery f®{ j
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► -q* of same guarantees it is insured and 'qj
f 0j will he kept insured, and guarantees 0
< «: the grade when graded and guarantees <0 j
► '0 weights, subject to usual variations. i
j* © We take the market reports which 0
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0 are r,oste< * so yOLI rnay know w^at 'qj i
jh r:i cotton is worth. Sworn weighers and 0 i
► ' ; i -■> J
0’ classers. Write or come to see us. 0)
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£ 0 0:00 © 0000/o‘ooo 0 000 ©VO o'oo'o ]
> Liberal Advance on Cotton Stored i
► in Warehouse. <
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SEWING MACHINES, ORGANS !
AND FURNITURE sdd o„
ij Both Serviceable and Ornamental Easy Terms I
|| Organs and Sowing Machines Delivered ij
in Your Home—. Easy Pay Plan
I Second-hand Sewing Machines j
at Your Own Price
C. A. SUMNER, Soperton
