The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1908-08-12
THE ABBEvILLE WAREHOUSE.
Wonderful Success for the Stockholders While
Being Of the Greatest Benefit to the Farmers
R. E. Cox, the Moving Spirit.

city the matter Of insurance was thoroughly
gone into. The old warehouse paid 10 cents
per year to insure a bale OF cotton valued al
$50. and today the present company get their
order TO get the great reduction In insurance
the company was required to build a 5000
gallon STEEL tank at a cost OF 81 500.
The farmers adopted the only feasible plan
to raise the price OF cotton, - The built-
ing of standard warehouses.
Therefore when the farmers had q bank
note TO meet and when he had hauled snfti.
Client cotton to town with which 10 pay said
note. be had no other alternative except 10
sell this cotton, let the price be what II may.
The present company, The Farmers Ware
house Company, held It's annual meeting In
the Court House on August 9rd. The show
ing was entirely satisfactory TO the stock.
holders. After paying 10 per cent. on bor-
rowed money a dividend OF per cent. was
ordered paid on August Is, 1908.
No enterprise in the history OF the city has
done as much good as the warehouse. II has
not only emancipsted the farmer, but has
been the salvat. on, the very making OF The
Of cotton comes In as regularly on Dog Days
as In November.
The officers OF this company at present are
R. E. Cox. Pres. and Treas.
A. F. Calvert, Vice-Pres.
/ w. E. Leslie, Sec.
WI. MsgiIl, Manager.
The moving spirit In the ultimate success
Of the enterprise was Mr.. r. E.. Cox, who en-
tered into the WOrK Win the ABILITY ana Tue
determination to succeed. It was through
him that Its great success was made possible,
HANDICAPPED as was the original company,
with q contiscatory Insurance., q large success
was not to be expected. But surprising as u
may seem, yet IL is true that Mr.. H.. e.
Cox, the new president, brought the
insurance down to one.tenth Of the price
which the original company paid. Instead
OF paying 10 cents q bale, he now pays only
seven cents a bale insurance. Having VOL
out on the excessive Insurance he immed!'
ately reduced TO the customer the cost o.
storage from $2.45 a bale by the year to Sl.9 9
year..
This great reduction In cost gave q great
impetus 10 the storage OF cotton, and the
bales were at times. In excess OF the room
Part OF the cotton for nearly q uhole winter
had to lie on the platform. and the further
receipts OF cotton was decline ed.
The ability, the energy and the good judg
ment OF Mr.. Cox makes him one OF the mos
notable factors In the business world Of bbe
Vile. He Is yet q young man, In the prime
OF life, and his phenomenal development O
power and Influence Ia only equalied by hill
p%benominal success in whatever he under
takes. A few years ago be undertook, with
DR.. 8. q. Thompson. to establish the Peoples
Bank. Their combined energy and their SAFE
conduct of the affairs OF the bank has brought
10 that institution an unprecedented success
the stock OF which has been Withdrawn from
the market, and cannot be bought. Tit
stock In the warehouse Ia as sound as a silveI
dollar, and on the market 1t Is about as hard
to find.