The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-05-08
SMITH AT WORK.
srr 3. D Smith Tells of the Growth
of the Cotton Growers Assoclauon
Local Capital interested.

nile of South Carolina will not THINK
beca,se / do not keep them posted
6ailv as to my Whereabouts ana the
work that I am doing that they Will
oct the idea that the Southern Cotton
association is not making steady ana
substantial growth
have canvassed a portion Of Geor-
gia and North Carolina in the last ~
6ays. covering some IS or 20 OF the
principal counties Of these States anu
have been able in every county VISITED
TO inaugurate our plan for organlzlns
local capital for the purpose OF WIN
holding from the market weak cotton'
and to erect warehouses in wnlch 70
store il. No where in the south nave
I met with more aattering encourage
ment and substantial aid than IN the
state of North Caolina, from whlch
srate I have just come. The names
~ the subscribers to our capltal stocA
for raising funds and building ware
ho,sas comprised the names OF the
men who represent the leading ousl-
ness men and capitalists OF that STATE
Al shelby, Wadesboro, Loulsourg'
smithheld. Goldsboro, Enfield, Viii
,oington. Kinston, Rocky Mount and
Fayetteville, enthusiastic endorse
ment of our plan was most hatterlns'
Last Tuesday was called to BIZ
mingham to meet with our warehouse
committee, who were to meet WITH
the capitalists and business men OF
R,rmingham to discuss the plan C'
establishing at Birmingham spot
cotton clearing house; where all the
cotton in our local warehouses couio
be reported and listed, SO that the
buvers of the world might have cen
tral point where they could reach
conveniently all the cotton controiieo
nv us. This cotton would be hs1eo
according to the counties and States
reported.
In conjunction with this clearing
house there would be on foot plan to
organize a guarantee company, with a
capital stock Of s1,ooo,ooO. to guaran-
tee the weights and grades OF the
oo4+o, stored in our warehouses. This
guarantee company would bear the
same relation to our association as an
,,s,rance company would bear to the
owner of property; they would welgh
and grade every bale Of cotton con-
+ro11ed nv us and stamp our ware
bo,,se receipt with their guarantee
so that VIXEN our cotton was hsteo
for sale. in our central concentrated
noint every bale so listed would be
Guaranteed as to weight and grade by
this company. And the buyer there
fore would know when purchasing
tba4 he would have ample protection
in getting what he bought
The owner OF spot cotton ebloglng
to our association and having II
weiebed and graded by this company
rvon,d know that he was selling eX-
actly what he owned. If it was MD
ding he would get the value OF mo
dnng co4ton: if it were strict mid
ding. he would get the value OF s'r1ce
,,iaa,i,o cotton: if it were any other
Grade he would get the value Of what
ever grade he owned. 1t Wou!o oe
weighed under the rules and regula-
t;ons of a strict business concern, ana
he would get the value Of every polne
he owned and the buyer would get
everv point specified in the sale. a
business man at glance Woulo sec
that th:s would mean thousands ~
the naiddnng cotton grower saved III
the item Of grades alone encouraging
more careful handling of cotton ana
more attention 20 honest weights. AS
it is now, those who buy our cotton
nlan a responsible organization
EMPLOYED by US would see to the
weighing and grading and guarantee
the purchasing world that it was
correct
Now to sum up the outlines of our
7,,an. organize our local holding and
warehouse companies, where each
grade it and weigh it under their
and every member OF our ofsan'za-
ton can carry his cotton, receive a
loan have it weighed and graded and
stored, have central point whefe 1t
NAV all be listed so that the puyers
of the world may go and be informed