22 



CIRCULAR 10 0, U. S. DEPARTMENT OF AGRICULTURE 



Dark Leaf Corporation, in Virginia ; two, the Central Carolina Cor- 

 poration and the Eastern Carolina Corporation, in North Carolina; 

 and one, the South Carolina Warehousing Corporation, in South 

 Carolina. The areas covered by each warehouse corporation corre- 

 sponded roughly to the tobacco pool areas. They did not exactly 

 coincide because the area of the pools depended upon the type of 

 tobacco grown, whereas the warehouse corporations were operated 

 only in the State in which they were incorporated. (Fig. 10.) 



According to the original plan these corporations were to be 

 financed by issues of common and preferred stock. The par value of 









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_ — — POOL AR EAS \ 



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WAREHOUSING 

 CORPORATION AREAS 



1. Sun-cured 



2. Dark -fired 



3. Old Belt 



4. Eastern Carolina 



5. South Carolina 











1. 



2. 

 3. 

 4. 

 5. 



Dark Leaf 

 Briaht Leaf 

 Central Carolina 

 Eas-iem Carolina 

 South Carolina 













BASED ON THE CENSUS 



Figure 10— Pool and Warehousing Corporation Areas of the Association 



The area of the cooperative association was divided into five pool areas on the basis 

 of type of tobacco and into five warehousing corporations, which while similar to the 

 pool areas in location did not coincide. 



the original issue of preferred stock for each district corporation was 

 not to exceed 1 cent for each pound of tobacco of the 1920 crop pro- 

 duced by the membership of that district. Owing to difficulties of 

 financing it was necessary to depart radically from the plan pre- 

 sented in the original association agreement. 



TYPE OF ORGANIZATION 



In attempting to organize a highly centralized complex form of co- 

 operative organization of the size of the Tobacco Growers' Cooperative 

 Association within a comparatively short period of time and without 

 any previous experience as a guide, it is almost impossible to insure from 



