Word: cottons
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Dates: during 1930-1939
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...testimony, including his book account, there is no escape from the conclusion that he charged more than 20% per annum on the furnish account." Thereby, ruled the court, Planter Copeland forfeited not only interest but principal, owes Negro Taylor $2,279.91 (equal to the full value of his cotton without deduction for furnish...
This application of the law of usury was a nasty jolt to Mississippi's cotton planters. It meant that henceforth they cannot charge more than legal interest on furnish unless they want to run the risk of supplying it free...
...perhaps the most legitimate resulting howl has been that of the American Automobile Association. Reason: the Association's copyrighted insignia, AAA, a motorists' byword since 1902, has since 1933 been plowed under by the New Deal's AAA. Last week, South Carolina's "Cotton Ed" Smith, Chairman of the Senate Agriculture Committee but no friend of the New Deal, had before the Senate a bill authorizing Secretary of Agriculture Wallace to "select and make public a new name for ... the Agricultural Adjustment Administration...
Every year it is news in the South when the first bale of cotton is ginned. Last week, for the fifth time, Francisco P. Lozano, Rio Grande Valley farmer, made this news. But the event was the signal for little glee, for Texan Farmer Lozano and other U. S. cotton growers are expecting their second biggest crop in five years. Estimates have placed the total yield at 13,000,000 bales, compared to 12,400,000 in 1936, 10,630,000 in 1935. With a carryover of 14,000,000 bales from last year, this bumper crop can mean...
Though prices rallied slightly by week's end, they remained well below the 9? figure at which Commodity Credit Corp. bought surplus cotton last year. Organized in 1933 "to insure the orderly marketing" of cotton and other products-in short, to peg prices-Commodity Credit was once regarded as one of the New Deal's few self-sustaining agencies. But despite its auspicious start in 1933-34, its successful $200,000,000 issue of Government-guaranteed 3/4% notes last month, the agency has lately run into difficulties.* Recently it announced a $51,000,000 loss on 12? cotton...