COOPERATIVE MARKETING OF COTTON 17 
AMERICAN COTTON GROWERS’ EXCHANGE 
The need for an overhead organization to coordinate the activities 
of the several! state-wide cotton marketing associations was anticipated 
from the beginning of the movement. One of the provisions written 
into the marketing agreements of the State associations authorized co- 
operation with similar associations in establishing and maintaining 
a central organization. 
The American Cotton Growers’ Exchange was tentatively formed 
at a meeting in Oklahoma City, Okla., April 18, 1921, attended by 
AMERICAN COTTON GROWERS’ EXCHANGE 
BOARDS OF DIRECTORS 
OF MEMBER ASSOCIATIONS OF 
AMERICAN .COTTON GROWERS’ EXCHANGE 
PRESIDENT 
BOARD OF TRUSTEES 
¢ 
GENERAL |LL-* 
COUNSEL [ISs. 
NS eS 
GENERAL MANAGER 
Direct ne nt) —_—_—_—_—_—_ 
Advisory relation ----- = 
FIELD SERVICE 
SALES AND TRAFFIC SYSTEMS 
PUBLIC RELATIONS 
1g. 3.—The operations of the American Cotton Growers’ Exchange are controlled by the 
member associations, acting through a board of trustees 
representatives of the Oklahoma, Arizona, Texas, and Mississippi 
Delta associations. A number of agricultural leaders from Arkansas, 
Georgia, and North Carolina were also present. The agreement as 
then submitted was tentatively approved by the Oklahoma, Arizona, 
and Texas representatives. Ata later meeting in Memphis, August 1, 
1921, after a few changes had been made in the agreement, it was 
ratified by the boards of directors of the three associations. One of 
the changes modified the original plan to centralize sales in the over- 
head organization. 
71246°—26——3 
