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Show uu HOW ABOUT THE POOR CON- ' SUMER7 Farmers who have been holding their cotton or a part of it will find great encouragement in the arrangements arrange-ments which have heon made in New York to provide a fund of $50,000,000 to assist the plantors of the south in holding their cotton until It reaches 12 cents the pound. The movement, it is stated, Is backed by well-known "bulls" and it mean's that cotton will from this time on show an upward trend. Tho offer Is not In the least an eleemosynary one. Tho bankers who havo agreed to put up the money are not moved by any love and affection for the southern farmers, but tho New York concerns which aro backing back-ing tho proposition are doing so for their own protection. Governor O'Neal and Senator Bailey and Colonel Watson Wat-son and the other southern men who have Investigated the matter ami who aro acting as the representatives of the cotton growers, give it as their opinion, however, that tho scheme is all right and will bonofit the farmers materially If they will but avail themselves them-selves of its assistance. There Ib no question that tho cotton holding movement has been retarded very much because of tbe difficulty which in many places has attended tho borrowing of money on favorable terms. The present plan proposes to lend to any farmer $25 the bale upon his cotton without interest, but at a fixed charge of $1 a hale; tho cotton to be placed to tho bost advantage ad-vantage at the market price then current and the growor given the right to designate tho day of sale to Jnnuary 1, 1913, and to share in any advance In price to the extent of three-fourths of the rise of the' market. mar-ket. " The full details of the proposition will probably bo made known Immediately. Imme-diately. Meantime, it is sought to impress It upon the farmers that the ouccess of tho undertaking rests entirely en-tirely with them. The arrangements which have been perfected make It practicable for tho farmer who wants to hold his cotton to do so, and there is reason to believe that thero is still a great deal of cotton In tho hands of farmers who would like to hold it until the price reaches a figure which will allow a living profit over and above tho cost of production. Charleston News and Courier. |