The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1905-07-12
HELP IT ALONG.

HE'LL LII ALVNG.
Unique Plan Of Raising Funds fyr
Southern Cotton Association.
MIR. Smith Talks OF Scheme to Give
Southern Planter Complete Com
troll Of Cotton Market.
1t a meeting OF the executive COM
mittee Of the Southern Cotton associ.
alton held in Memphis June 2sh it
was decided to recommend to every as
sociation, State, county and township,
to erect warehouses at once wherever
necessary. They further recon mend
that this be done by local capital if it
be possible. This plan OF erecting
warehouses will be taken up by every
State In the cotton belt so that there
may be sufficient number OF ware
houses ready for cotton by fall to
guarantee organizing a mutual 1nSur
arce company. The play Of this ID
surance is as follows:
E4ch warehouse is to become through
the mutual insurance plan security
for every other warehouse belonging
to OF under the control Of the South
ern Cotton ass ociation. In this way
the insurance will be reduced to a
nominal sum; and will guarantee ab-
solute fire protection without being
forced to subscribe to all OF the plans
and specifications OF the Southeastern
Tariff association.
The State says Mr.. E. D. Smith,
president OF the State association and
a mem Der Of the executive committee
Of the southern association, Is OF course
enthusiastic over the plan Mr.. Smith
was in the CITY "Wednesday, having
come down from Greenville. he talk
ed freely about the plan.
Bankers, merchants and business
men Of all vocations are solicited to
take stock In these warehouses" said
Mr. Smith. This will solve the prob
lem Of cheap storage and cheap insur-
ance and will save to the farmers and
business men CT the south, themselves,
all the money that ts now paid to for.
eign corporations for insurance.
1t will be impossible for me to
reach each county in person, but I
hope every county paper will copy this
letter, and every organization build.
ing warehouses will modify this Office
as soon as it is assured.
''The Planters Holding and CON-
mission company Is now ready for bus
mess, and we hope that all farmers
and business men in the south will
take stock IN this company, so that IN
cop junction with oar warehouses we
may have a fund from which money
can be gotten at q low rate Ut interest
to take up the surplus and distressed
cotton II there be any such on the
market. To sum the whole matter
up, our plan is this:
1.-THE cotton farmers and southern
people will build their own warehous-
es, organizing each State, and get a
charter for doing a commission bust
ness, and then every warehouse in the
entire cotton belt carries Its pro rata
share OF the risk Of every other one,
so that If no cotton is burned our in.
surance Will cost nothing; and taking
ten year average. II we can get
enough warehouses built and enough
cotton stored, the estimate is that 1t
will not exceed cents per bale for in
surance. The farmers themselves, haV.
ing taken stock in the warehouses, will
have their storage charges reduced to
minimum, in that their stock will,
If managed correctly, very nearly pay
for their storage; and II sufficient
funds are pooled by the southern cot
ton grower and the southern people.
and it is managed correctly, there will
be a loan fund sufficient to carry the
weak and distressed c,tton at a low
rate Of interest, thereby giving the
south and the southern planter abso
lutte control Of the marketing Of his
cotton.
'Tois plan appeared the most feas-
ible, and I think will appeal to the
business judgment Of everyone, and
we hope that the warehouse feature
will be pushed vigorously.
"The Southern Cotton association
also decided to ask every man, wo
man and child il the south, woo today
feel that they are under obligation to
the Southern Cotton association for
the present rise In cotton, We ask
them to contribute one nickle apiece.
All South Carolinians who feel so dis.
posed and think they can afford this
much for this great southern cause,
can to1 ward their nlckle to Mr.. F. a..
Hyatt, treasurer Of the Southern Cot
ton association, South Carolina divis
ion, Columbia, S. c. The association
is in debt, and thinks that this is a
just and equitable way Of appealing
to the people for aid.
sat Greeaville Tuesday when this
appeal was made there was a prompt
and generous response. We hope that
there will be a generous response from
the people at large.
I want once more to congratulate
the people OF my State and the south
in general upon the magnificent
achievement OF the Southern Cotton
association For once in the history
Of the south we seem to be in the sad
die; and my advice to the people at
large is to sit steady and ride easy"
DEFENDED his HOME.