Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1907-05-07
THE WAREHOUSE PLAN.

THE WAREHOUSE PLAN.
Mr.. E. D. Smith, field agent Of the
Southern Cotton association Is now in
Columbia, where he returned last
week from a pretty thorough canvass
of North Carolina in the interest Of
the cotton holding organization. He
expresses himself as we'll pleased with
his reception in North Carolina and
the promises he received from farm
ers and business men as to active CO.
operation in the development OF his
plans. Explaining more fully the
working of the proposed holding or
ganization, he has given out the fol-
lowing in the form Of an interview:
ION last Tuesday / was called to
Birmingham to meet with our ware
house committee, who were to meet
with the capitalists and business men
Of Birmingham to discuss the plan OF
establishing at Birmingham spot
cotton clearing house, where all the
cotton in our local warehouses could
be reported and listed, so that the
buyers Of the world might have GEN.
tral point where they could reach con-
yeniently all the cotton controlled by
US. This cotton would be listed ac-
cording to the counties and states re-
ported.
I'm conjunction with this clearing
house, there would be on foot plan
to organize a guarantee company with
a capital stock Of $1,000,00O to guar
antee the weights and grades OF the
cotton stored in our warehouses. THIS
guarantee company would bear the
ho raj n q association
an insurance company would bear to
the owner Of property; they would
weigh and grade every bale Of cotton
controlled by us and stamp our ware
house receipt with their guarantee, so
that when our cotton was listed Tor
SALE in our central concentrated point,
every bale so listed would be guaran-
teed as to weight and grade by this
company. And the buyer therefore
would know when purchasing that he
would have ample protection in get
ting what he bought. The owner or
spot cotton belonging to our associa-
tion, and having it weighed and grad
ed by this company, would know that
he was selling exactly what he owned.
If 1t was middling, he would get the
value of middling cotton; If 1t were
strict middling, he would get the value
of strict middling cotton; II 1t were
any other grade he would get the value
Of whatever grade he owned. 1t would
be weighed under the rules and regu-
lations Of a strict business concern,
and he would get the value OF every
point he owned and the buyer would
get every point specified In the sale.
A business man at glance would see
that this would mean thousands TO
the middling cotton grower saved IN
the item Of grades alone, encouraging
more careful handling Of cotton and
more attention to honest weights. AS
II Is now those who buy our cotton,
grade 1t and weigh 1t under their
plan. A responsible organization en-
ployed by us would see to the weigh
ing and grading and guarantee the
purchasing world that 1t was correct.
"Now, to sum up the outlines OF our
plan; organize our local holding and
warehouse companies, where each ana
every member Of our organization can
CARRY his cotton, receive loan nave
it weighed and graded and Stored,
have a central point. where 1t may all
be listed, 80 that the buyers OF the
world may go and be informed as to
how, much and what grades and where
make their purchases, sign their con-
tracts for delivery and where our min
imum price as to different grades can
be understood. Then 1t would be an
easy matter to fix a minimum price
basis middling, which price would
represent a profit to the grower, ana
then to this minimum price add
legitimate charge for Interest on mon
ey borrowed, insurance, storage,
weighing and grading, and all other
incidental expenses; so that the pur-
chaser in buying our cotton will pay
a. profit to the grower, profit to those
who finance 1t, and the legitimate
charges in putting 1t In the proper
shape for the markets Of the world.
This plan is the only common sense
business plan; and already there have
been responses from the counties vis-
tied to assure success in the plan.
Just as soon as possible there Will
be printed and distributed throughout
the country a detailed statement OF
the plan and the methods of organiza-
tion.
II hope every county in South Car
olina will proceed at once to get IT.
self in shape to cooperate along the
lines suggested. I think the good al
ready accomplished by the Southern
Cotton association entities it to the
confidence and support Of every lndi-
vidual in the south. We may have
made mistakes-and doubtless have
but our purpose has been from start
to finish to get as near as possible the
legitimate value Of our cotton. 1t
was a stupendous undertaking, but by
virtue Of its very magnitude IL was
Of prime Importance to us to settle IT,
and settle it in our favor. l think we
have clearly demonstrated our power
to control 1t in our interest
There isn't a drummer In the
south, there isn't a merchant or a
banker but that should cooperate
with us in our attempt to maintain
profitable value on our cotton. l sim
cerely hope that those who feel In
clined so to do will write to me-re-
gardless as to whether they are MEM
bers of the association or not-and
express their opinion as to their IDEAS
as to whether or not the association
has been Of benefit to the south. l
hope every drummer seeing this ar
ticle, who believes that we have as
sisted in bringing about and maintain
ing the present prosperity Of the south
will write me in Columbia so stating.
and every other man, regardless OF
what his business or profession Is.
81 will be in the state until May 3O'
and II there be any places that l can
serve between this time and then
conveniently, l would be glad for the
parties to communicate with me 10
that effect"
LOCAL LACoNIcS.
We Will Send The Enquirer
From this date until January lst'