99 to 1Almost complete official returns from the Kerr-Scott referendum show that North Carolina farmers voted more than 99 per cent for retention of the tobacco control act in 1935.
The vote: 135,800 for compulsory control; 1,263 against.
And so voluntary adjustment contracts, signed by North Carolina growers last winter, will be continued through 1935.
The allotments will be larger, however, and growers may produce either 85 or 90 per cent of their base acreage, but those who produce 90 per cent will get smaller rental payments.
The grower who produces 85 per cent will receive rental payments at the rate of $17.50 an acre on the 15 per cent of his tobacco land retired from cultivation. The grower who produces 90 per cent will receive $8.75 per acre on the 10 per cent of the tobacco land he retires.
Adjustment payments will be 6 ¼ per cent of the net market value of the 1935 crop and the deficiency payments will be at the rate of 1 cent a pound on the amount of tobacco by which a grower may fail to produce his allotment.
The rate of the adjustment payment will be increased for growers with a base of less than 4 acres, with the maximum rate being 12 ½ per cent of the value of the 1935 crop.
How About 1935?Predictions that agricultural income will continue to increase in 1935, the AAA has estimated that a total of $476 million will be paid this year to 3 million farmers participating in adjustments program.
$10 a BalePayment of a $10 a bale on surplus cotton tax-exemption certificates placed in the national pool will be made soon, according to Dean I.O. Schaub of State College. The other $10 a bale will be distributed among the growers when the pool is closed, he said.