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THE COTTON PLAN
Representative of Finan
ciers Make Position Clear
THE COTTON TO BE
SOLD TO SPINNERS
According to tho Plan of the Northern
Bankers who have Promised to Fi
aance the Present Cotton Crop They
<!? not Intend Holding the Cotton.
At another meeting of loading South
Carolina citizens and the representa
tives of the northern syndicate offer
ing to loan $."?0,000,000 on the South
ern cotton crop, Mr. Slayton, their
representative, according to The Co
lumbia State of Wednesday, made the
"At the mooting this afternoon
?which was called by Col. Watson for
consideration of the cotton financing
plan, proposed by Col. Hobt. M.
Thompson of New York, several of
the gentlemen present made sugges
tions looking to improvements in the
details of the plan.
"In order that these suggestions
may be adopted and all possible safe
guards taken, for the security of cot
ton owners and of those who advance
money, we have requested Col. Wat
son, as president Of ti e Southern Cot
ton congress, to appoint a committee
of three leading cltb.cns Ol this State,
who will examine fully into our pro
posal nnd indicate all steps which
ought to he taken to secure the best
poysible results to the planters. This
committee will consider for instance
the proper method of insuring the
planter payment of the deferred part
of the purchase money price. In
short, we have asked Col. Watson to
appoint a committee, whose members
are in no wise pledged to support our
plan, it is not even necessary that
thry should he in favor of it. but they
nre rather to be unbiased gentlemen
who will, as public spirited citizens,
act for tho protection of every citizen
of South Carolina who may offer his
i-otton tinder this plan.
"Wo have bad printed detailed de
scription of the plan as it now stands.
We will distribute copies throughout
the State. All criticisms which may
be subimtted to Col. Watson or to the
committee will be fully considered,
and nil suggestions which seem wise
and mife will he embodied into the
plan on the committee's recommenda
"Action similar to this lias just been
taken in Alabama, where Gov. O'Neal
has named two members of a com
mittee, namely Capt. R. P. Kolb, com
missioner of agriculture of that State
nr.? one of her most promin* .it and ln
ffnential citizens, and second, W. P.
tl. Harding, president 01 the First Na
tional bank of Birmingham, one of
the leading banks of the Southern
States. These two gentlemen stand as
high as any citizen in Alabama. They
ha\e. given their indorsement to the
plan, and there will be associated with
them one of the leading cotton grow
ers of the State, whose name has not
yet been announced."
The following is the plan of the
"We minimi/.? the charges to the
?'We charge no Interest on the %'&??
we have paid and we guarantee to you
the privilege c;f waiting until .Ian
nary 1, 1913, to select a market to
sell on, if you wish to wait that long.
"Should you attempt to sell your
cotton Jn your home market In mid
?nimmer yoi would lind an Inactive
market and possibly an unequipped
buyer. By our plan you have an au
"If you carry your cotton jn a
?warehouse, or in your own barn, you
are never sure exac tly what it weighs,
nor for what price you can sell it. By
our plan you always can figure- exact
ly what remainder of the price is due
"JJ yon ship your cotton to the
larger markets, store it in a modern
warehonst and borrow money on It,
the interest which you will have to
pay for six months will amount to at
least jiJiO; the Insurance win cost
yon about 80 cents; the storage at
least $1.00; the sampling and weigh
mg 20 cents; your bale will shrink
in weight at least 9 pounds or 80
wnlfi, iffid yoar factor will charge
yon at least 75 cents for selling?all
ol wh'u h adds up to $5.00 per bale.
If yon try the same experiment with
a smaller warehouse you increase the
insarance. If not also the storane, and
probably also the danger of shrink
age in weight.
""If you hold it at home In your
own barn take all the worry and risk
a<f Insomnie yourself, and borrow
nothing on it, the fact remains that
ywtm are out the Interest on a $45 bale
?nf cotton for six months, which
amounts 1o about $1.80 (at 8 per
?c,nt.), and in all probability the
shrinkage in weight and damage ac
cruing naturall to cotton exposed or
partially erpoaed to the weather will
amount to another $1.00. Then you
have to sell in a market where the
merehant hismelf hardly knows what
to offer you and naturally take a wider
"In short, It will cost you nearly
$f>.00 to carry your cotton for six
months and market it in what the
trade now terms modernized methods;
it will cost you nearly $4.00 per bale I
to carry it a similar length of time
in your own home and lose the in
terest on your money and the weight
in your bale, while under our plan
(under plan "a") unless the' cotton
shows a profit your entire cost is
$1.00 per bale, regardless of the
length of time prior to .January 1.
Under our plant "b" it could never
cost you over $2.00 per bale for any
period of time up to January 1. Under
our plan 'c' the first six months would
only cost you $2.7."? total charges, and
if you carried it a full year the total
charges would only foot up $4.2.">.
?"This it will be seen that our
charges are much less than would
occur in any other system.
"We have endeavored to make our
ideas plain in the foregoing, but wo do
not wish to be misunderstood and we
will go further into detail.
"We can not undertake the expense
or the detail of deal inj; with euch in
dividual farmer: there are 1,000,001
cotton farmers ami a single postage ;
stain; addressed to each one would
entail an expenditure of $80.000, If
the paper and letter wilting cost
"We. therefore, ask that you your
selves, through the governor of your
own State, or a committee of his se
lection, or a committee of your own
selection, nominate a few trustees in
each State to whom you are willing
to entrust your cotton, and then let
these trustees deliver the cotton to
us and take the money and the equity
receipts from us. Do not ask us to
deal with the unit of one individual
separately, as that would make the j
"If yon can not reach the nearest
trustee let a number of farmers join ?
and have your nearest banker or
nearest merchant become your trus
tee and complete the negotiation for
you and let him settle with you in
"Your merchant will doubtless he
willing to aid you in this if you will
let the part payment and tho
equity receipt, which we give 'aim.
apply on debts which you possibly
owe him, and the merchant is prob
aly also better prepared to agree
upon grades and weights than you j
"We do not want and will not take ;
low grade cotton. We want cotton I
from strict low middling upward, and
the details of the contract which we
will execute with the trustees for your ;
State or the larger merchants and :
bankers whom we will of necessity '
be compelled to deal with, can de- I
termlne whether we are giving you
all we have promised you in the brief
outline given above.
"We must and will make a separate
contract with the trustees of each
State. The idea will be the same, al
though the phraseology may be dif
ferent, in order to Comply with the
laws of each State.
"There is no 'niggr in the wod
plle.' The plan we are outlining to
you bears the stamp of approval of
years of trading by the spinners. It Is
simply a plan of 'call' cotton, and
under sueh plan the spinner has se
cured Iiis cotton, spun it into cloth and j
fixed the- price later on.
"It is not our plan to warehouse |
this cotton, nor to withhold it from
the channels of trade, but we want to
get. it out of competition, so, as o per
mit the market to go up. If It will
and we expect to sell It to the spin
ners of the world as fast as we can
and as rapidly as we sell It. to replace
same with contracts for future! de- |
livery in whatever market or what- I
ever month we think the cheapest,
permitting you, all the while, to meas
ure the home value of your cotton by
a fixed method of comparison with tho
Now York contract market.
"We clo not pretend to know what
the market Is going to do; we only
hope, on your account, that. It will do
better than It has been doing, and
we do believe higher prices will pre
vail after the world Is sure that you
have reduced acreage and that an
other freak year of large yield per
acre is unlikely. The success of the
plan Is dependent wholly upon the
farmer himself and not upon us. We
are only recognizing the fact that, you
scmu to want to hold cotton and are i
endeavoring to provide the means j
whereby you can do so with the
greatest economy, and where you can,
If you desire, practically carry your
cotton Into another crop and still own
cotton at a less cost than you could
produce a new crop.
"The only Insurance we can offer
you Is that it will not go below $25
per bale, or at any rate we are taking
that risk. We arc Insuring you, how
ever that If the market does advance
you can select your own dato for
closing out the trade and take the ben
fit of the advance. The full details of
the plan, in full accord with every
thing above stated, will be given to
our trustees when you or the gover
nor of your State have appointed them,
and we are sure those trustees will
find no objectionable clause or speci
"For the reasons above stated we
can not deal with the individual, but
will furnish overy facility to the trus
tee who can offer us coton in quan
tity. A committee appointed at the
governors' conference has investigated
our proposal and has given it the
stamp of their appoval. The trustees
whom the governor of your State will
appoint will do likewise, we have no
doubt; if not, we will frame the con
tract to suit the wishes of that trus
tee, provided it is along economic lines
Our greatest desire in this under
taking Is to aid a people, suffering
from a momentary congestion of sup
ply of their most important product,
to help tide their affairs over to a pe
riod where a more satisfactory price
might be obtained."
"Acute Indigestion the Cause. How
Often do ne Head this Heading in
our Daily Paper.
Dear reader, if your food does not
digest properly, but stays in you\
Stomach, causing much misery, short
ness of breath ami fermentation, you
are the one that should constantly
have witli you a box of Ml-O-NA stom
Two little Ml-O-NA tablets taken at
the first sign of distress would have
kept many a deatli notice out of the
if yon have stomach trouble of any
kind, start to get rid of it today. One
50 cent box of Ml-O-NA stomach tab
lets will make you feel like a new
man. Two weeks' treatment will
make any abused, out of order stom
ach strong and vigorous.
Guaranteed, mind you. for indiges
tion, dizziness. biliousness, bad
dreams They clear the skin and
brighten the eyes. A box for only
50 cents at Laurens Drug Co. and
New York, Philadelphia, Baltimore,
Washington and the East
Now Offered by the
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! FLEMING BROS. !
Holiday Greeting 1911
We would be very glad of an early opportunity to show you our clean,
fresh stock of
New and Beautiful
Comprising the greatest gathering of Desirable Christmas Merchandise
we have ever offered our Holiday patrons.
Very Desirable Presents
Our Stock is not a selection of odd extremes and useless curiosities,
but is a well-chosen line representing fresh ideas in pleasing,
serviceable and appropriate Christmas Gifts that
meet the requirements of everybody.
Taste, Quality and Novelty
Our ojferings abound in Originality, Merit and Good Taste, displayed
in scores of the nicest Gifts imaginable for old or young.
Christmas buying at our store results in the delight
of the folks at home. We place at your
disposal Appropriate Gifts for every
member of the family.
The Virtue of Reasonable Prices
Is never neglected. You will find it in connection with Best Quality
and Genuine Merit throughout our Beautiful Stock.
Selections Made Now
Will be held for future delivery. No deposit required.
If you wish China, Cut Glass, Chafing Dishes
We can Please You
State of South Carolina,
fount) of Laurens.
In Court of Common Pleas
Palmetto Bank of Laurens, South Car
Lillle M. Copeland, Piedmont Savings
& Investment Co., DaviB Roper Co.,
H. M. Fowler, W. A. Putman, De
Pursuant to a Decree of the Court
in the above stated case. I will sell
at public outcry to the highest bid
der, at Laurens, C. H? S. C. on Sales
day in January next, being Tuesday
the 2nd day of the month, during the
legal hours for such sales, the fol
lowing described property to wit:
All that lot. pieeo or parcel of land,
situate, lying and being In the corpor
ate limits of the City of Laurens. in
the County and State aforesaid, front
ing on Laurens street a distance of
ftfty-flve (55) feet, more or less and
bounded on north by said Laurens
street, on east by Jail lot of the coun
ty of Laurens, on south by lot of Lil
lle M. Copeland and on west by lot
of Mrs. Edwin Sltgreavos and Mrs.
W. II. Martin, a lot of ten foot alley
between the same and this lot. Bald
lot being immediately in the rear of
my dwelling lot and is one hundred
and five (105) feet deep more or loss.
Also all that lot, piece or parcel
of land situate in the county and
State above named in the City of Lau
rens, S. C, known as the Lillle M
Copeland home place ami containing
bouse of said Lillle M. Copeland and
having such metres and bounds as
shown by a plot of same made by S.
L. Fike, fronting on Main street fifty
feet, bounded on east by A. 11. Mar
tin, west by .1. .1. Roland and extend
ing 205 1-2 feel and adjoining lot of
said Lillle M. Copeland.
Terms Of Sale: One-half cash, bal
ance to be paid twelve months from
date of sale, the credit portion to be
secured by bond and mortgage of the
purchaser over the said premises,
bearing legal interest front date, with
leave to purchaser to pay bis entire
bid in cash. Purchaser to pay for
papers. If the terms of sale are not
complied with, the land to be resold
on same or some subsequent Sales
day on same terms, .it risk of former
JOHN F. BOLT,
c. C. C. P. & G. s.. Laurens, s. C.
Dated, this December 12, 1911.
State of South Carolina,
County of I.aureus.
In Court of Common I'leas.
Wilmington Saving & Trust Company,
H. O. Cranks. Nancy M. Franks. \V.
I.. Cray and Palmetto Hank of Lau
rens, s. C, Defendants.
Pursuant to a decree of the Court in
the above stated case. I will sell at
public outcry to the highest bidder,
at Laurens C. II., S. C. on sale day
in January next, being Tuesday, the
2nd day of the month, during the legal
hours of such sales, the following de
scribed properly to wit;
All thai lot, piece or parcel of land
lying, being and situate on Chestnut
and Harle streets in the city of Lau
rens, county and state aforesaid, con
taining one half an aero, more or less,
with the following metres and bounds:
fronting on said Chestnut street 198
links and on Harle street 251 links,
hounded by said streets and lots of
W. C. Irby and lot formerly owned by
Beatrice Yonrgin, being the lot con
veyed to Nancy M. Cranks by W. C
Irby on March is, 1898, the deed there
to being recorded in Hook S page 31 I
in Clerk of Court's office for l.aurens
Also, all that lot, piece or parcel
of land lying, being and situate with
in two miles of Laurens C. II.. on Clin
ton road, county and state aforesaid,
containing forty one (in acres, more
or loss, bounded by lands of Mrs. E.
J. Garlington, .1. D. Childless and oth
ers, being the tract conveyed to R.
O. Franks, by Sallie Ballew on June
11, 190?. and known as part of the
Also, all that lot, piece or parcel
f land lying, being and situate wlth
ii two miles of Laurens C. II.. on Clin
ton road, county and state aforesaid,
containing eighty four ist) acres,
more or less, bounded by lands of Ili
um Qarllngton, Mart Hunter and
Ibers, being the tract conveyed to
It. o. Franks, by it. f. Ballew on June
il. 1906, and known as the Duiliaidu
Also, all that lot, piece or parcel of
und lying. bebiR ami situate about
wo miles from Laurens C. H., adjoin
ing the above described tract of land,
onlnining 30 1-2 acres, more or loss,
nd known as the W. H. Motte place,
hounded by lands known as W. H
Motte place, the Scott Templeton place,
Jim Allen. Hiram Qarllngton and It.
Said lands sold upon the follow
ing terms: One half cash, and the bal
. nee on a credit of one year, to be
secured by the bond of the purchaser,
tnd a mortgage of the premises, the
credit portion to bear legal interest
from day of sale with the leave of
purchaser to pay entire bid in cash
Purchaser to pay for papers and If
purchaser falls to comply with term:
of sale, siiid premises to be resold at
his risk, upon the same or some suh
sequent salesday, upon same terms
JOHN I). OWINQS,
Sheriff LaurOns County,
Dated this 12th day of December.
A. I). Hill. 20-IU
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