Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1909-05-05
STATE FARsIE rs, UNION.
Matters Regarding Warehousing of
Cotton Crop--Resolutions.
(The State, May u

v
marketing cotton, passed number
of general resolutions and adjourned.
Official Action Taken.
This plan is for the organization
and incorporation of union consoli-
dated warehouse company, subscrip-
tions to the capital stock of which
may be paid in cash, or in real and
personal property, or in the assets
OF similar or other cotton warehouse
companies at their reasonable value,
and also the right to pay for such as
sets Of similar or other cotton ware
house companies, Incorporated or un-
incorporated, by issuing to such other
or similar warehouse companies its
common or other stock in exchange
for their assets, including warehouse
buildings, franchises, good will, etc.,
upon such fair terms of purchase or
exchange as may be agreed upon by
its board of directors Of said union
consolidated warehouse company,
and said similar or other warehouse
companies, or other stockholders or
owners; with the right, by said
sale or exchange Of its said stock, to
completely buy, merge and own such
other or similar warehouse compa-
nies, or to exchange or sell it's stock
for part of the capital stock, or
other holdings or assets Of other or
similar warehouse companies, incor-
porated or unincorporated
The business of this corporation
Of farmers will be to buy, build, own,
lease and operate warehouses for
the storing Of cotton throughout the
Southern States; to engage in the
business of storing and warehousing
Nf 70
hire; to issue negotiable or non
negotiable warehouse receipts or cot
ton certificates, as needed, upon cot
ton or other farm products stored in
any of the warehouses owned or con-
trolled by the corporation, and to
provide for securing and guarantee
ing, by pledging all or any part Of
It's physical or other assets, or by OBJ
tanning other guarantees, at the dis
cretion Of its board of directors; to
buy and sell cotton and other pro-
ducts for itself, or as agent or trus-
tee for its stockholders, or other
persons or corporations, upon COM
mission.
To aid it's members or stockhold-
ers in borrowing. money upon their
cotton or other products when safely
stored in the warehouses Of either OF
them, of said corporation, upon its
guaranteed receipts; also to borrow
money upon its own initiative for the
purpose of lending same to it's stock
holders upon their cotton, or other
farm products, as pledge or collate-
raj, and to mortgage or pledge it's
own assets to also further secure
such loans, for the purpose among
other things, Of enabling such stock
fO hol1 hot,
In their efforts to secure fair and
better prices therefor.
No one may be stockholder in
this corporation who is not a mem
ber Of the Farmers Educational and
Cooperative Union Of America.
warehouse company, the own
ership of whose stock is exclusively
held by members of said Farmers
Educational and Cooperative Union
OF America, may buy and own shares
or stock in the corporation in its
own behalf, but may not dispose of
or sell the same to any one not
, member Of said Farmers Union of
America without first offering same
! 10 this corporation and allowing it
80 days within which to cancel said
stock on its own books and pay par
value therefor.
In case of the death of a stock
holder, then his executor or admins
traitor must first offer for sale the
stock to the board Of directors of
this corporation.
The meeting adopted resolutions
that Commissioner Watson and a
committee from the union wait on
the President Of the United States to
get him to send abroad an agent to
get information from the manufac-
turers there. &aNs
Resolutions.
Resolved, That the Farmers I'm
ion. Of South Carolina hereby en-
dorses the request of the State De-
partment Of Agriculture, Of the Sec
retary Of Agriculture of the United
States, bureau of animal industry,
to detail one or more field experts
from the bureau, to be stationed in
the State for the purpose of advis-
ing, directing and assisting those
engaged in or about to engage in
live stock raising, particularly in the
raising of beef cattle.'
The Clemson summer schools for
instruction of farmers was endorsed.
Resolved, That this body wishes
to again put on record it's full ap-
probation of the value of the United
States farm demonstration work in
South Carolina and the excellent re-
suits being obtained by this work
under the direction of the State
agent. Prof. Ira Williams, in his
policy of close cooperation with the
State authorities and this organiZa-
ton, and that DR.. Knapp be and is
hereby requested to increase the
ScODe and extent of this work I'm
South Carolina as rapidly as possi-
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