STATE POMOLOGICAL SOCIETY. 21 



The work of the Office of Markets has not yet progressed 

 sufficiently so that we can say much about what has been 

 accomplished. Hence, though disinclined to do so, we are com- 

 pelled to present plans rather than results. 



In too many cases one of the greatest difficulties surrounding 

 the farmer's marketing problems is his inability to get short- 

 time loans on anything like reasonable credit. No matter how 

 useful the purpose to which he intends to devote the money, 

 the banker is loath to give him credit and the commission house 

 exacts a high rate of interest. This was brought to my atten- 

 tion recently in connection with the cotton investigations of my 

 office. We are trying to develop the grading, handling and 

 marketing of cotton on a community basis at various points 

 in the South. One of our most earnest community groups is 

 located at a small town in Arkansas. To sell cotton to any ad- 

 vantage, an association should have at least 50 bales of each 

 grade to offer. As there are nine full grades and many other 

 recognized qualities, it requires considerable time before a 

 group of growers can accumulate enough bales to ofifer even- 

 running lots. Inasmuch as they are under heavy expense for 

 picking, ginning and baling and at the close of the long season 

 of outgo without income, they must borrow money or let the 

 cotton go a few bales at a time as ginning proceeds. 



This particular group of growers was enthtusiastic enough 

 so that they united to construct a creditable sheet-iron ware- 

 house with their own labor devoted to the work when they 

 could spare time and on rainy days. In the hope of securing 

 moderately reasonable credit, one of our men accompanied the 

 leader of the growers' association to one of the leading banks 

 in Little Rock. The president of the bank, while expressing 

 interest and anxiety to assist, stated that no money was avail- 

 able for such loans, that they now had $3,000,000 loaned out on 

 cotton, all of which is to local cotton buyers and commission 

 men. The president stated that no farmers had any of this 

 money, and further that he was one of the committee handling 

 the Arkansas allotment of the $5,000,000 of government funds 

 distributed for crop-moving purposes, and that so far as he 

 knew no farmer was able to avail himself directly of the use 

 of any part of this fund. \ 



