Imperial Valley Press

IMPORTANT MEETINGS WILL BE HELD BY VALLEY COTTON MEN

Two important meetings for cotton growers and those interested have been announced by Frank Beyschlag, farm advisor, one for Friday, January 19, at 9:30 a. m. at the court house and one for the next day, Saturday, at 10 a. m. Arizona time, at the U. S. farm at Bard.

The purpose of these meetings is to explain the 1934-35 cotton reduction contracts. A farmer is eligible for this contract on the basis of the cotton history of the farm he is operating.

The base period is 1928-32 and a farmer is eligible if his land was in cotton those four years, whether or not he was operating the land at that time; he is eligible if it was in cotton three years, one of which must be 1931 or 32; he is eligible if the land was in cotton in both 1931 and 32 and he is eligible if he cooperated in 1933. The plan calls for 35-45 per cent reduction in acreage.

At last week's meeting of cotton growers held to discuss the 1934-35 cotton reduction acreage plan, 22 out of the 33 who cooperated in the past year elected the form of payment as follows.

Part of the payment is made in cash and part is in the form of an option to buy cotton at six cents per pound from the secretary of agriculture in the amount equivalent to the estimated yield that would have been obtained had it not been plowed under.

Options Ready

The options have just arrived and are being delivered to growers, Beyschlag states. The grower may do four things with these options: he may pledge them to his creditors; he may authorize the secretary of agriculture to sell the option any time designated by him prior to May 1, 1934, with no cost to the grower for holding; he may, if he desires, hold the option after May 1, sending on his request on a special form with the understanding that the grower will pay the carrying charges of 40 cents per bale per month; or lastly, he may get a loan from the government of four cents per pound on his option by entering a pool agreement whereby cotton will be held until July 1, 1934, for 15 cents per pound. After that time it can be sold for a price determined by the secretary of agriculture. The profits, if any, will be distributed to those in the pool after all charges have been deducted. The time limit for entering the pool ended last Monday.