The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1911-11-08
BETTER PRICES
Plan to Obtain Them Proposed BY Dr.
Wade stackhoase Of Hi'en

Wade staekhouse Of e;:en
TO BUILD WAREHOUSES;
Farmers Would be Asked to store az
1eest One Fourth Of The;c Cotton
in These Warehouses al / HOLD Al
Until q Suitable Price Could oe
Had.
The following is the plan TOR hold
ing cotton, proposed by Dr.. Wade
stacshouse at Dillon, that caused so
r,noh discussion at the meeting Oh
+he Farmers union in Columbia
Thursday night:
..Tbere is no shame greater than
defeat: There is no JOY like Vic'of!.
The Southern cotton grower today Is
covered with the shame o: de.eat'
like the union army at Bu!: Kun ne
Is in full retreat; panc-strlcAen ne
has trrned his back to the bears and
is hustling to dispose if this crop
nnder the cost of its production:
ncan we do nothing to stop TINS
oanic of our brother farmers. winch
NOT only threatens this crop oat
noints to a few years Of depression
which means lower leve! OF ll'ns
to every man, woman and ch1io III
the South. =
..Tbe time to prepare for war IS
before it begins. We have iost tne
.est time to prepare lor this emer-
sercy. but suggest the following
plan: 60.
"Rn;ld warehouses in each South
ern State capable Of holding one
fourth of the largest crop We are
likely to produce. My argument ap-
plies to South Carolina, but should oe
duplicated in each cotton State, ana
then CON bine all the cotton ware
house cimpanes into a whole.
<aThe farmers should put up the
,capital stock to erect the Warenous-
as which should be large storage
houses and built at points where suo-
stitution and reshipping privilege
can be secured. This would lmpiF
that warehouses would be nul!t on
IL in towns having more than one
railroad, or having water rates ana
where ample fire protection can Dc
provided-the small warehouse can
never pay. Perpetual motion IS no
more impossible IN physics than is the
continued exercise of good business
sense in the conduct of warehouses
and in organizing holding move
ment Of cotton farmers.
The wareheuseman must BE man
of character. He must be fair oooh-
keeper. He must be a sworn Welsher'
capable of adjusting equltaoly olner-
ences as to moisture, damage etc.
on cotton. He should take the notes
or farmers wishing to secure loans
on cotton and forward the notes VIII
warehouse receipts to the State trus'
company organized to handle these
receipts. Such men can be found TO-
day brying cotton for the leading
exporters. They are a set OF capaoie
men having good, hard, business
sense.
It will take around $1,000 per
year to employ such men. Then the
warehouse must keep night Watch
man the year around. It must be
built according to certain plans and
soecifcations and must be equipped
with automatic sprinklers AMI have
two sources Of water supply. ihls
water supply must be absolutely sui
hcent to satisfy the most skeptlcal
insurance inspector. Having all these
requisites it is astonishing how small
the insurance cost It can be reduced
to - cents on 500 valuation for II
months. The small warehouse can
afford all this.
"Our normal crop in South Caro-
lima is around 100000 bales. One
fourth of this, 100000 bales, would
need to be warehoused under my
plan. I would suggest organizing a
South Carolina Cotton Warehouse
company, with capital stock of ST.
100000, divided into shares OF sou
each and that the farmers be asked
tc subscribe for most Of this STOCK.
That. say Is warehouses be built at
central points in the State, capable
of storing the 100000 bales. That a
trust company be organizer to con-
duct the loans on cotton, and TINS
trust com mpany be located in Colurn.
bia, S. c., and its acts to bind the
s1,oOo,Ooo capital stock of all the
warehouses.
eve would need high class bank
er to manage the trust company ct
Columbia. Fe could hnd in what
money centres te conld place his
warehouse receipts and borrow the
money. With a million dollar asset
to back him he could sell his ware
house notes in most Of the money
centres CT the country.
"Th's plan is not original, but is
toda: employed by warehouses o;
this city, I would suggest that We
let alone all the existing warehouses
in the State now being conducted as
private enterprises. There is ample
field for all the warehousing com
panies now in operation and the sys'
TEN recommend.
.The State warehousing companies
should take in all friends Of cotton
iii the South. They could cooperate
with the Farmers Union and al
o+ber ORGANIZATIONS having for iheil