Marketing Pecans 153 



sold out, the loans on that idooI are repaid and the interest 

 stopped. 



It is customary for the cooperating marketing association 

 to make an advance of part of the value of the commodity 

 at the time of delivery. Further pa^Tnents are made to the 

 grower on each pool from time to time, and final settlement 

 after the pool has been disposed of entirely. Final payment 

 consists of pro-rating to the member all the money remaining 

 to the credit of the pool in which his product has been 

 placed, less the proportionate amount necessary to pay his 

 share of the operating expense, and deductions for reserves 

 for credit, to retire indebtedness for subsidiaries, such as 

 warehouse companies and other essential expenses. In the 

 case of pecans, the operating expenses are proportioned on a 

 basis of the tonnage of nuts handled for each grower. 



The National Pecan Growers^ Exchange. 



A cooperative association to market pecan nuts is operated 

 under the name of the National Pecan Growers' Exchange. 

 The possibilities of this organization having been discussed for 

 three or four years, a committee composed of C. A. Vanduzee, 

 chairman, and J. B. Wight, Cairo, Georgia; H. C. White and 

 J. M. Patterson of Putney, William P. Bullard of Albany, B. 

 W. Stone of Thomas\alle, T. H. Parker, Moultrie, Georgia, and 

 others, was appointed at the annual meeting of the National 

 Nut Growers' Association held at Thomasville, Georgia, in 

 May, 1914, to study the subject and devise plans. This 

 committee made a report to a called meeting of the Georgia- 

 Florida Pecan Growers' Association during the annual meet- 

 ing of the National Nut Growers' Association at Thomas- 

 ville, in October of the same year. Its action was approved 



