The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-03-18
To HAVE COTTON
WAREHOUSE PLANT
Birmingham Takes the Lead
Among Southern Cities
STRONG co. IS ORGANIZED
Merchants, Manufacturers, Bankers
and Capitalists nterested-Large
Site Acquired-Worl< to
Begin at Once.

Birmingham is to have the first cotton
warrant warehouse in the SOUTH The
Warrant Warehouse company was or
ganlzed yesterday afternoon. with cot
ton merchants. manufacturers. bankers
and capitalists among the stockholders.
The company has bought from Mr. and
Mrs E. G. Stevens and associates, the old
fire brick property on Thirty-ffth street
between Avenue A and the Southern rail-
way. This site is 40Ox4SO feet and 1t is
understood that the price paid was $4,000
Construction work will begin at once
and the warehouse will be finished by
the fall In time for the next crop.
The organization starts off with only
three directors, w. D. Nesbitt H. X Mil
ner and W. p G. Harding, but the num-
Der will be increased. The temporary
officers chosen yesterday were w. D.
Nesbitt, president. and II. K. Miner sec
rotary and treasurer.
Among the prominent stockholders of
the Warehouse company are w. P. G.
Harding, president of the First National
bank; II. X. Miner. formerly of the
Miner & Kettig Co., wholesale hard
ware and machinery; H. B. Gray, pres
ident of the Peoples Savings Bank and
Trust company; e. h. Enslen, cashier
of the Jefferson County Savings Bank
g. W. Pratt, president of the Pell City
Manufacturing company; D. L. Lewis.
president of the Sycamore mills; E. f.
Bouchelle, the well known merchant of
Boligee, Ala; C. A. Steifelmeyer, one of
Cullman's strongest merchants; w, s.
Brown, Rufus N. Rhodes, B. E. Roden,
Drennen & Co., S. E. league, f. w.
Dixon, 7. f. Wimberly of Wimberly
and Thomas. Loveman, Joseph & Loeb.
and Albert Ober, capitalist and president
of the Baltimore Fidelity Warehouse
company.
The Details.
After the meeting the directors gave ont
the following detailed statement:
The Warrant Warehouse company has
been organized with the object of fur
nishing to Birmingham absolutely the best
Facilities for warehousing and financing
cotton, and other commodities for which
storage Is wished, or on which loans are
desired.
The company has a capital of 100000,
Its stockholders consisting of the business
people OF Birmingham and vicinity, and
It's directorate composed of the most ac-
tive men of this section Interested in
banking, insurance, warehousing and gen.
eral merchandising.
THE warehouses that will Immediately
be built are to be of the most perfect con-
struction from an insurance point of
view, and will command a rate of insur-
L.
cent. This means that Birmingham will
have the best warehouse facilities of any
town In the south. There are no public
warehouses today anywhere In this sec
ton of the south that have so low an in
surance rate. We therefore will be first
In this line of progress and much needed
development.
Banking interests.
The banking people affiliat. with the
enterprise assure to this company the
ability to borrow at all times Tor its Gus
toners money at most reasonable rates
on cotton or any other commodity which
may be stored in its warehouses. Arrange
ments will be made to furnish a bonded
receipt so that those parties living at a
distance, who may wish to store in these
warehouses articles for distribution
through the territory, and might wish to
borrow on same while in store can use
such receipts in their own local commun-
ity should they not desire to make their
financial arrangements in Birmingham
This land which has been acquired by
the company furnishes room for develop
ment to four times the business at pres
ent undertaken, and the company will
arrange to extend facilities just as rapidly
as business offers.
The storage on cotton, including insur-
ance, VIII not exceed II cents per bale per
month. This is about one-third the present
cost of storage paid by the farmer and
local merchant in Birmingham The stor-
age and insurance on all other commodi-
ties which they handle will be on an
equal low basis. The policy of the COM
pany Is thus to furnish such splendid ia
cilities at such a low basis of cost as
compared with present standards, that
business will be drawn to 1t as air rushes
into vacuum, and the management of
the company, therefore. can give its full
time to the care and proper handling OF
its customers accounts, and not have to
use much of its energy In soliciting busi-
ness.
Some Of the Advantages.
Arrangements will be mace so that
the merchant or farmer living on any OF
the railroad lines out of Birmingham can
snip his cotton into these warehouses;
have the same sampled and cold to the
mills of this territory. There is spun with
in sixty miles Of Birmingham practically
100000 bales of cotton, so that reser-
voir Of this kind furnishes to the mer-
chant and farmer an exchange through
which he can meet directly on the lowest
possible cost for handling the demand
from the mills as we'll as that of the
buyer who ships cotton to the eastern
mills or for export On the other hand it
Will furnish constant stock and supply
OF spot cotton where the mills of the dis
trict can at all times find cotton suitable
to their. needs, and thus while furnishing
facilities to these three important dvl-
sions Of our Industrial community. II
will make Birmingham the gateway
through which an ever increasing busi-
ness in this line will be done.
1T will also aid materially the whole
sale business of Birmingham, for the rea-
son that goods shipped In here in car lots
can be. through these warehouses. stored
or distributed to the surrounding terri
tory at the lowest possible expense. Tre-
rt@ e .1o tn f,-a.