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Chronological History

Carolinas Cotton Growers Cooperative, Inc. - Since 1922

JUMP TO A TIME PERIOD:

2000 - Present

Oct 2007 Cooperative redeems 50% of 2001 crop equity.

Aug 2007 Cooperative ships 35% of volume in export market during fiscal 2007.

Jun 2007 Cooperative markets record volume of 675,000 bales for 2006 crop.

Oct 2006 Cooperative redeems 2000 crop allocated equity.

Sep 2006 Cooperative reorganizes as a stock held cooperative.

May 2006 Cooperative joins AMCOT.

Oct 2005 Cooperative redeems balance of 1999 crop allocated equity.

Oct 2004 Cooperative redeems 50% of 1999 crop allocated equity.

Jun 2004 A new subsidiary, Southeastern Futures Management is formed.

Jan 2003 Cooperative attains 30% market share in NC, SC, and VA.

Sep 2002 Cotton Growers Warehouses purchases Chocowinity facility with 100,000 bale capacity.

Jun 2002 Cooperative markets 530,000 bales.

Oct 2001 The Cooperative begins exporting cotton again.

Apr 2001 The Cooperative moves to its newly constructed office at 101 Sigma Drive, in Garner, NC. The Board room is dedicated to the memory of C.B. Griffin.

Feb 2001 J. Michael Quinn is named President.

Jan 2001 Cooperative markets 355,000 bales.

Sep 2000 Cooperative begins direct deposit program with producers.

Cooperative issues qualified patronage refund including allocated equity for 1999 crop. Equity management program, including issuance and redemption of allocated equities, fully implemented.

Jul 2000 Cooperative redistricts to include Georgia.

Jun 2000 Cooperative markets 200,000 bales.

Apr 2000 Cooperative instrumental in obtaining Hurricane Floyd disaster relief funding of its members.

1980 - 1999

Jun 1999 Cooperative purchases land in Garner, for construction of new headquarters.

Apr 1999 Fenton Eure, Jr. named Chairman of the board.

Sep 1998 Cooperative issues cash patronage refund on 1997 crop under resumed equity management program. First since 1992.

Jan 1998 The Cooperative resumes Seasonal Pool contracting with an equity plan for members.

Cooperative begins to rebound under new management team and institution of Seasonal Pool. Reaches 200,000 bale mark.

Oct 1996 Cooperative is instrumental in implementation of electronic warehouse receipts.

May 1996 Cooperative supports Cotton Inc.’s Electronic Fiber Selection (EFS).

Feb 1996 Cooperative redistricts, establishing Virginia as a district.

Jun 1994 Cooperative resumes credit relationship with Wachovia Bank.

1993 John J. Cooper is named President.

Dec 1992 New districts are approved that align better with the membership.

Sep 1991 The per unit retain assessment for the year 1991 will be paid before any other refunds of that year are paid to the member.

The board resolved that a patronage refund would be paid to members of the Cooperative who marketed cotton during the fiscal year ended Jun 30, 1991.

May 1991 Upon recommendation by CoBank the board approves a 2½ % per unit retained assessment on all purchased cotton of the 1991 season. Attorney, Warren Matthews, of South Hill, Virginia agrees to serve as the registered agent for the cooperative in Virginia.

Feb 1991 The Cooperative votes to become domiciled in Virginia.

Feb 1989 Mr. Fenton Eure, Jr. joins the board representing District No. 5.

Sep 1986 Smithfield warehouse is sold.

Jul 1986 The Cooperative enters negotiations to sell all its warehouses.

Feb 1986 The Cooperative moves to new offices at 209 Oberlin Road, Raleigh, NC. A new sign is approved to be put on the building and the cotton logo is to be changed to a cotton bale.

Apr 1985 The board resolves to sell the warehouse located in Clayton, NC.

Apr 1984 A compress will be installed at the warehouse in Lumberton, NC.

Feb 1982 The board approves the motion to have all cotton payments issued from the Raleigh office.

May 1981 The board offers to pay the reserves for the year 1970.

Feb 1981 The Cooperative enters into a contract with Cathay for representation in the international market.

Oct 1980 The Cooperative will pay all the reserves due persons who return the letter for the season 1950-51.

1960 - 1979

Oct 1979 The board carries a motion to liquidate the Growers Agriculture Credit Corporation.

Feb 1979 Jack Cox is appointed acting President and General Manager. Marshall Grant reported on the success of the Boll Weevil Program.

Mar 1978 Jack Cox joins the Cooperative as special assistant to the President.

Sep 1977 Patronage refunds issued for the year ending Jun 30, 1977. The management was authorized to pay the 1946-47 reserves upon request.

Feb 1977 The board approves to offer a soybean contract.

Sep 1976 Patronage refunds issued to members who marketed cotton with the Cooperative during the fiscal year ending Jun 30, 1976.

Jan 1975 Mr. Glen Sperling is elected as the director for District 10.

Oct 1975 Patronage refunds issued to members of the Cooperative who had contract cotton on hand as of Jun 30, 1974. The reserves from 1941-42 will be paid upon request. The board approves the legislation to increase the assessment for Cotton, Inc., on the basis of up to 1% of the value of cotton.

Oct 1974 A membership in the N.Y. Cotton Exchange is purchased in the name of Mr. Lyerly for the account of the Cooperative.

The 1940-41 season reserves are declared redeemable upon member request.

Oct 1974 The board goes on record as supporting Senate Bill 2005 which would increase target prices for cotton, wheat and corn.

Jul 1974 Mr. O.J. Lyerly is elected President, Treasurer and General Manager.

Jun 1974 Mr. G. D. Arndt retires.

May 1974 The Cooperative supports the Boll Weevil Eradication Program now being developed by the National Cotton Council and Cotton, Inc.

Mr. Ortho J. Lyerly is named Acting President and Chief Executive Officer of the Association.

Feb 1974 The board goes on record as strongly endorsing the continuation of the present warehouse system for storage of cotton. The board asked to have the boll weevil declared a pest in NC.

Dec 1973 The board agrees to pay the allocated reserves for 1927-28, 1928-29, 1930-31, and 1932-33 if the member writes asking for payment.

The board makes a donation to the On-Farm Test Program at NC State University.

May 1973 The board makes contributions to NC State University in memory of Dr. H. Brooks James.

The board endorses the principles of the S. 517 Bill, known as the Talmadge Bill, to assure farmers an adequate income or margin of profit in their farming operations.

Feb 1973 The board approves the a 1 cent per pound equity allocation on the 1971 crop. The board also offers to pay the 1926-27 1% reserves when presented by the holder.

Nov 1972 Mr. Marshall Grant is elected to serve on the Advisory Board. The board agrees to give a one time grant to NC State University to help pay for a specialist to work with “on-farm testing” of cotton.

Oct 1972 The Cooperative leases three warehouses in Scotland Neck, NC.

The Repurchase Pool is created to compete with cotton going into Form A loan.

Feb 1972 A resolution is passed authorizing a patronage refund. A resolution is approved offering the redemption of the equity reserves for 1924-25 and 1925-26.

Dec 1971 The USDA proposes new bagging and ties specifications for 1972.

Feb 1971 Mr. Jackson reports to the board about a recent USDA Meeting on the new farm bill and the cotton program. As of Aug 1, 1971, cotton will go to a net weight basis rather than gross weight.

Dec 1970 Mr. Griffin reports that the name of the Cotton Producers Institute has changed to Cotton, Inc.

Jul 1970 A letter is sent to all members who have not previously redeemed their reserve interest certificates for the fiscal years 1922-23 and 1923-24 asking that they check their records and redeem the certificates as soon as possible.

1967 The Cotton Producers Institute (CPI), predecessor to Cotton Inc., becomes independent from the National Cotton Council. Mr. C.B. Griffin, Jr. and Mr. Hervey Evans are appointed to the board of CPI.

Nov 1966 The board goes on record as heartily endorsing the cotton marketing quota and research and promotion programs.

Oct 1966 A scholarship fund is established in honor of Mr. G. Dewey Arndt for the years of service he rendered. Scholarships will be given to NC State University in Raleigh, NC and Clemson University in Clemson, SC.

Feb 1965 The board approves the purchase of equipment necessary to test cotton fibers for breaking strength and fineness of fiber.

Sep 1964 The By-laws are amended. The name is changed to the Carolinas Cotton Growers Association, Inc.

Jun 1964 The board requests the Secretary of Agriculture to have the USDA absorb the cost of 6¢ per bale for micronaire reading of cotton samples.

Oct 1963 The Articles of Incorporation are amended to make the duration of the NC Cotton Growers Cooperative Association perpetual.

Jan 1963 The Carolina Cooperator magazine is awarded first place in the US for farm cooperative house organizations as awarded by the National Council of Farmer Cooperatives.

Mar 1961 South Carolina becomes a part of the Cooperative.

Dec 1960 The board approves the purchase of ½ of a lot with FCX in Goldsboro, NC to build a warehouse.

1940 - 1959

Dec 1958 The FCX Board agrees to re-model the board room and designate it as the “M.G. Mann Memorial Room.”

May 1958 Mr. G.D. Arndt is elected as General Manager and Secretary.

Aug 1957 The Cotton Promotion Association is approved to assess 10¢ per bale on all cotton ginned in North Carolina to finance the promotion of cotton sales and usages.

Dec 1956 To help State College in trying to grow boll weevil resistant cotton Mr. Mann offers to furnish some land for use at the Cooperative’s farm near Garner, NC.

Nov 1955 The board authorizes the construction of an additional warehouse unit in Morven, NC.

Mar 1955 The board supports HB 4833 which was introduced in Congress relating to futures hedging operations.

Mar 1954 The board votes to construct a warehouse in Morven, NC.

Nov 1953 The position of Assistant General Manager is created in order to relieve the General Manager of some of the burden in handling the affairs of the Cooperative.

Jun 1953 A charge of 50¢ per bale will be charged for all cotton handled through the Cooperative beginning July 1, 1953.

Feb 1953 The Carolina Cooperator magazine wins first place at the National Council of Farmer Cooperatives.

Feb 1953 The board authorizes the management to purchase a lot in Lumberton, NC and proceed to erect a cotton storage warehouse.

Nov 1952 Governor Scott and Mrs. Scott invite the boards of the Cotton Association and FCX to have lunch at the Mansion, as well as the wives and sweethearts of the board members.

Aug 1952 The Carolina Cooperator Publishing Company produces a film for use in meetings and for the purpose of educating farmers to grow cotton on a profitable basis.

Jun 1952 The board went on record as approving the Abernethy Bill (this bill would raise the loan price of cotton approximately 3 to 4 cents a pound) and sent a wire to the NC Senators to ask them to lend support to the passage of the bill.

Feb 1951 A resolution is made stating that since the need for cotton in the war emergency preparedness program is so great and since our Government has asked that the cotton farmers produce at least sixteen million bales this year, that the selective service draft boards be requested to weigh very carefully the merits for deferment of each agricultural worker in the farms of America. The resolution was taken to the State Director of Selective Service for NC and to the NC members of Congress.

Jun 1950 An agreement is signed with the National Cotton Council that would contribute 1/2¢ per bale on all cotton handled through the Cooperative for the year 1950.

Jan 1950 The new warehouse in Smithfield is completed.

Mar 1949 The Cooperative agrees to sell the building at 121 East Davies Street to FCX with the understanding that the Cooperative will be given a 5 year rental lease with the privilege of renewal for a five year period

1948-49 Cooperative markets 94,933 bales.

Mar 1948 The Cooperative buys a piece of land in order to build a new warehouse in Smithfield. The board votes to recommend to the board of the Cotton Growers Cooperative Warehouse & Gin Company that they sell the old Smithfield warehouse to FCX and proceed to build a new one on the new land.

Apr 1947 The Cooperative works to stop a co-op tax bill.

Aug 1946 For the 1946-1947 season only, the Cooperative waives the 50¢ per bale charge for grading, stapling and quoting a price.

1945-46 Cooperative markets 31,901 bales.

Jun 1945 The Cooperative sends financial support to the National Cotton Council.

Dec 1944 Mr. C.B. Griffin becomes Director of District No. 1.

Controlling stock is bought in the Weldon Warehouse & Storage Corp. along with the outstanding stock of the NC Compress and Warehouse in Fayetteville, NC.

Oct 1944 The Commodity Credit Corporation announces that the government will buy the entire 1944 crop from producers at parity prices based on government grades and staples.

Aug 1943 Because of the war and the urging from the government to save gas and tires, the members are polled via mail to see if they want to postpone the annual meeting and keep the current board until the meetings can be held. Approximately 95% of those voting had expressed a desire to postpone the annual meeting.

1942-43 Cooperative markets 128,156 bales.

Oct 1942 All relations with the American Cotton Cooperative Association are severed.

May 1942 The Advisory Board is increased from 3 to 4 members.

W. Kerr Scott serves as a Director during the 1940’s.

Sep 1941 A new pool called the “Repurchase Pool Full Advance” is created that will take only cotton produced in 1941.

Aug 1941 Contract is signed for the construction of a warehouse in Scotland Neck.

1940-41 Cooperative markets 98,077 bales.

Jul 1940 The “Call Pool” is established for handling cotton from the members in large lots.

1920 - 1939

Dec 1939 Dr. B.W. Kilgore, former president of the Cooperative, is recognized by the National Agricultural Society.

The Government announces a plan on Government Loan cotton which will permit the Cooperative to handle cotton under a Producers Warranty and Agreement.

Oct 1938 The Cotton Association sponsors “The Cooperative Press.”

1937-38 Cooperative markets 74,612 bales.

Dec 1937 The old Post Office building on East Davies Street is purchased to be used as the new offices of the Cooperative.

Aug 1937 A new Marketing Agreement is approved for a period of ten years.

Jul 1936 Cotton Growers Cooperative Warehouse and Gin Company purchases the Smithfield Warehouse.

1935-36 Cooperative markets 44,672 bales.

Jun 1935 The “Re-Purchase Pool” is created.

1935 Cotton Growers Cooperative Warehouse and Gin Company is formed.

Jan 1935 The first Edition of the “Carolina Cooperator” is published.

Jul 1934 M.G. Mann is named President/General Manager.

Apr 1934 The Farmers Cooperative Exchange (FCX) is created to be a state-wide purchasing agent to serve all farmers. FCX will take over the activities of the Cotton Growers Supply Company, the Producers Mutual Exchange and other cooperative purchasing agencies.

May 1933 Agricultural Adjustment Act is passed.

Aug 1932 Freight rates are reduced thanks to the work of the Cooperative appearing before the Interstate Commerce Commission.

Feb 1932 Regional Agricultural Credit Corporation is formed. Later becomes CCC.

Sep 1931 The present office is considered a fire hazard and the Sir Walter Chevrolet Garage in Raleigh is leased with an option to buy.

Jun 1931 Roy H. Parks is hired to assist in the publishing of the “Cotton Grower.”

Nov 1930 The Cooperative and the US Dept. of Agriculture meet to discuss classing of the cotton.

Jul 1929 The State Farmers’ Convention at State College and the general membership meeting for the Cooperative are held at the same time to try and attract more people to the membership meeting.

The Agricultural Marketing Act is created providing financing.

Sep 1928 A subsidiary corporation is organized (The Cotton Growers Supply Company) to buy, sell, manufacture, own and handle agricultural and farm implements and supplies. It will also handle garden or farm seed, horses, mules and all other kinds of animals.

Nov 1927 The Cooperative employs trucks to transport cotton to the mills.

Dec 1926 Long time pools are established. The time of resale shall be a minimum of six months and a maximum of 2 years from Oct 1, 1926.

Jul 1926 Reserves deducted from the 1922-23 crop will be paid to the members on or before Sep 15 th.

Oct 1925 Cooperative begins banking relationship with Wachovia Bank & Trust.

Sep 1924 Cooperative exports its first cotton.

Sep 1922 The Music Academy of Raleigh is home to the Cooperative.

Aug 1922 Mr. U.B. Blalock is named General Manager.

Jun 1922 The first “Cotton Grower” publication is issued.

Apr 1922 Became a member of American Cotton Growers Exchange.

Feb 1922 The North Carolina Cotton Growers Cooperative is formed.

 

 

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