The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1911-11-04
BETTER PRICES,
TO BUILD WAREHOUSES

stfE
Farmers Would be Asked to Store at
Least One Fourth Of Their Cotton
In These Warehouses and Hold 1t
Until q Suitable Price Could be
Had.
The following is the plan for hold
Ing cotton, pgopossd bg Pr. Wade de
Stackhouse at Dillon, that caused so
much discussion at the, meeting of
the Farmers union in Columbia
Thursday night: grestes
There is no shame greater than
defeat: Thsre Is no joy IKE victory.
The Southern cotton grower today is
covered with the sham, ,of defeat.
Like the union army at Bull Run he
is in full retreat; panc-strieksn he
has turned his back to the bears and
is hustling to dispose il this crop
under the cost of it's production.
"Can we do nothing to stop this
panic of our brother farmers, which
not only threatens this crop, but
points to few years OF depression
which means lower level of living
to every man, woman and child in
the South.
"The time to prepare for war is
before it begins. We have lost the
best time to prepare lor this emer-
gercy, but 1 suggest the following
plan:
Build 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 be
duplicated in each cotton State, and
then combine all the cotton ware
house cimpanes into whole.
"The farmers should put up the
capital stock to erect the warehous-
es, which should be large storage
shouses and built at points where sub
stitution, and reshipping. privilege
can be secured. This would imply
that warehouses would be built on
ly in towns having more than one,
railroad, or having water rates and
where ample ire protection can be
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. $50.
The warehouseman must be a man
Of character. He must be q fair book
keeper. He must be sworn weigher,
capable of adjusting equitably differ
ences as to moisture, damage, etc.,
on cotton. He should take the notes
of farmers wishing to secure loans
on cotton and forward the notes with
warehouse receipts to the State trust
company organized to handle these
receipts. Such men can be found to-
day buying cotton for the, leading
exporters. They are set Of capable
men having good, hard, business
sense.
1t will take around S1,20G per
year to employ such men. Then the
warehouse must keep a. night watch
man the year around. 1t must be
built according to certain plans and
specifications and must be equipped
with automatic sprinklers anil have
two sources of water supply. This
water supply must be absolutely suf-
fcent TO satisfy the most skeptical
insurance inspector. Having all these
requisites it is astonishing how small
the insurance cost. 1t can be reduced
to 12 cents on 500 valuation for II
months: The small warehouse can't
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. would suggest organizing a
South Carolina Cotton Warehouse
company, with capital stock of ST.
100000, divided into shares of $50
each and that the farmers be asked
to subscribe for most Of this stock.
That, say l 5 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 this
trust company be located in Colum,
bia. S. c., and its acts to bind the
100000 capital stock Of all the
warehouses.
Eve would need high class bank
er to manage the trust company at
Columbia He could find in what
money centres he conld place his
warehouse receipts and borrow the
money. With & million dollar asset
to back him he could sell his ware
house notes in most of the money
centres Of the country.
This plan is not original, but is
today employed by warehouses of
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-
tenn recommend.