The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-07-12
ASK ALL FOR FIVE CENTS.
UNIQUE SCHEME OF SOUTHERN
COTTON GROWERS.
The Association Hopes in this Way 10
Raise a Fund to Carry Oh The Work
The Great Warehouse Plans.

AT meeting of The executive committee Of
the Southern Cotton Association held In
nend TO every association, state. county and
township, 10 erect warehouses at once wher.
ever necessary. They further recon- men
that this be done by local capital II POSSIBLE
TAX en- up by every state IN the cotton belt sc
that there may be SUFFICIENT number Of
warehouses ready for cotton by fall TO guaran'
lee organizing mutual Insurance company.
| be plan of be insurance Is as follows:
E0ch warehouse is 10 become through the
mutual insurance plan security for every
other warehouse belonging to or under the
cop troll Of the Southern Cotton Association.
nominal sum and will guarantee absolute
fire protection without being forced TO Sub.
scribe 10 all Of the plans and specifications OF
the Southeastern Tariff Association.
Mr.. E. D. Smith. president OF the state asso-
citation, and member of the executive com.
mittee OF the Southern association, Is, OF
course enthusiastic over the plan. Mr..
Smith was In Columbia few days ago, hav-
log come down from Greenville He talked
freely about the plan.
Bankers, merchants and business men OF
all vocatiops are solicited TO take stock In
these warehouses" said Mr.. Smith. This
will solve the problem Of cheap storage and
cheap Insurance, and will save TO the farmers
and busip men OF the South, themselves,
al the money that ia now paid 10 foreign
corporations for insurance.
every county! In tpersop. but ! hope every
county paper will copy THE letter, ard every
,rRan,zation building warehouses will notify
bis Office as soon as II Is assured.
"Tbe Planters Holding and Com mission
Company is now ready for business, and we
hope that all farmees and business men IN
The South will take stock IN this com pany, 80
hat In conjunction with our warehouses. we
may have fund from which money may be
gotten al low rate Of interest TO take up the
snrplus and distressed cotton II there be any
such on the market.
"1c snm the whole matter up, our plan is
this:
"The Gotten farmers and Southern people
will build their own warehouses. organizing
Zach al ate, and get charter for doing COM
mission business, and then every warehouse
IN the entire cotton belt carries It's pro rata
share OF the risk Of every other one, 80 that If
10 cotton is burned our insurance will cost
uoihipg; and taking ten year average five
IAN get enough cotton stored, the estimate is
hat II will not exceed cents per bale for In
urance. The farmers themselves, having
AIKEN stock in the warehouses, will have
heir storage charges reduced TO a minimum,
q that their stock Will, II managed correctly.
iery nearly pay for th ctr storage; and II suf-
icient funds are pooled by the Southern cot.
Ion grower and the Southern people, and II
IL manaeed correctly, there Will be loan
iund sufficient to carry the weak and dis
tress ed cotton at a low rate OF interest, there
uy giving the South and The Southern plan ier
"snlute control OF the marketing OF his cot
ton.
:.rhs plan appeared the most feas slble,
md I think will appeal TO the business
Judgment OF every one, and we nope that the
warehouse features will be pushed vigorous
~.
THE Southern Cotton Association also
iecided 10 K every man, woman and child
10 the South, who Today feel that they are
under obligation 10 the Southern Cotton
Association Tor the present rise in cotton. we
ask then TO contribute one nickle apiece.
All South Caroliniaps WHO feel 20 disposed
and think they can efford this much for
| his great Southern ca use, can forward their
lex lie 10 Mir. F. H. Hyatt, treasurer OF the
southern Cotton Association, South Caro-
| lima Division. Columbia, S. c. The associa
| tion is in debt, and think that Is just and
equitable way of appealing 10 the people
| lor aid.
"At GIeenville yesterday when this appeal
| was made there was prompt a. d generous
| response. We hope that there will be gen.
| erous spopse from the people at large.
IL want once more 10 congratulate The
people OF my state and the South in genera
! upon the magnificent achievement of the
| southern Cotton Association. For once II
| the history OF the South We seem TO be II
| the saddle and my advice to the people a.
large is 10 sit steady and ride easy"