The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-09-05
CHOICE Of WAREHOUSE.
WATSON QUOTES MADOO As TO
REQUIREMENTS.
Must be Insured and Receipts When
Issued Must Re, resent Cotton Ac-
tualIy i'm Storage.

interest concerning cotton warehouses
in South Carolina was contained i'm
Il letter yesterday, addressed by f. j.
Watson to $. G. Mayiicld of Bam-
berg.
The letter follows:
In regard to the latter part of
Your inquiry by wire today, l beg
to say that Mr. McAdoo himself may
be quoted in regard to what will be
considered warehouse as things now
stand without any further national
legislation. He says:
~ stated here yesterday that it
was my purpose to accept from the
banks and currency associations notes
and Obligations secured by cotton
warehouse receipts, properly certifi-
Gated and issued by responsible ware
house men or warehouse companies
l do not say that those Warehouses
have got to be built Of brick, stone,
steel or anything else, or that they
must be bonded. All I ask is that
those warehouses shall be of such a
character as to protect the cotton it.
self from deterioration or destruction.
that adequate insurance can be Of
fered, and backed by responsible agcn-
cies so that when their warehouse re-
ceipts are issued we will know that
they represent something actually in
storage there, something that can be
had on presentation of receipts l
said we would accept those as Sc
curity under this act
Under the new federal cotton ware
house bill, which has already unan-
imously passed the senate and which
will unquestionably pass the house,
being reported unanimously favorable
by the house committee on agricul-
ture, the term warehouse is defined
to mean every building, compress,
gin house and other constructions in
which any cotton is or may he stored
or held for or in course Of inter-
state or foreign commerce., which
means that a mans own barn on his
own farm can be made federal gov
ernment bonded warehouse, and of
course would cover the class Of ware
houses that you refer to absolutely.
OF course the act requires that federal
inspectors, when application for Ii
censes for warehouses are made. shall
determine whether such warehouses
for which licenses are applied are
suitable for the proper storage or
holding Of cotton.
I'm any 'ent there can be no doubt
whatever 1t the warehouse which
YOU propose just as good a PROPOSE
ton in the es Of the law, and will
be considere such by the secretary
or the treaSl as any modern stOr-
age warehOus, with sprinkler system.
OF course the insurance rate will nee
essarily be higher, but that can be
reduced by keeping a watchman, run
ming barbed wire fences around, by
packing the cotton sectionally with
asbestos paper between So that in case
Of fire only one section would be in
danger, and in preparation for water
protection, the sprinkler system of
course carrying the lowest rate of in
surance.
Il might say Tor your information
that down in Louisiana we have al
ready submitted to the London, Liver
pool & Globe company the question
as to whether or not they would in
sure cotton stored in the seed in q
farmers residence on the portico or
in a room, and Mr.. John Nj. Parker
OF New Orleans was assured by the
representative of that company that
his company would consider such
storage safe risk. / doubt, how
ever, If storage to this extent - |
mean on the piazza and in a room
in mans house-would come under
Mr.. McAdOO's construction of the
meaning Of proper warehouse, and
| merely mention it to show you to
what extent the insurance may be
obtained.
IF l mistake not, the laying OF
pine pole foundation on the ground
and the piling OF cotton upon it, COW
cring it with tarpaulins, the running
OF Il barbcd wire fence around, and
the keeping Of a watchman day and
night around the inclosure, with
hose fire protection, has already been
successfully tried by one of the larger