Show SHUT OFF LOANS TO Banks Force Measure to Reduce Reduce Re Re- duce Acreage MEMPHIS Tenn April 9 Southern banks are preparing to shut off all loans to o farmers after July 1 I In In accord accordance with the general cotton acreage r reduction idan A number of or Mississippi delta banks have already announced such a move Banks cannot afford to continua continues malin making mak- mak ln in ing leans Itans to farmers They have olane 1 millions of dollars on the past two cotto cotton cot cot- to tot ton crops of which little has been cen J ie- ie ie- ie e paid Bankers feel that they will be beheld beheld beheld held r responsible if if the south raises als' als s a large cotton crop this year Meetings of ot bankers and anci credit merchants merchants mer mer- chants are now being held in M each h Clitton cotton cotton cot cot- ton growing state to consider crop financing A general warning warning- has been sent out by the largest southern banks that no farmer who refuses to his cotton acreage wll be given a dollar loHar of credit next spring Banks are decreasing their loans to force this plan through While depression reigns throughout hout the cotton belt the south is far from being bankrupt Thousands of bales of cotton are held In storage Loans have been made mado on such cotton fat far above its value Holders of this cotton are not attempting attempt attempt- ing to sell fell it at present prices but expect ex- ex expect expect ex ex- to get a good price for it following an official announcement of the 1921 cotton cotton cotton cot cot- ton acreage They believe a small acreage acreage acre acre- age ago will mean higher cotton prices Southern banks are now fostering the movement to market all cotton in the future through state stat marketing |