The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-10-21

portation, and with the delnor-
alization of the foreign market,
where two-thirds of our crop is
consumed, it is unwise to force
the staple upon the market un-
der such conditions;
And whereas, South Carolina
will produce one million four
hundred thousand 1,400, ,000)
bales of cotton, costing about
ten (0) cents per pound, it is
necessary, in order to protect
the people of this State from an
irreparable loss, to provide some
general plan of warehousing,
and to finance the Drop by con
verting cotton into a negotiable
security which will command re-
spect in the money markets of
the world;
Be it enacted by the General
Assembly Of the State of South
Carolina: That, within the police
powers of the State and for the
general welfare, there is estab-
llshed, as hereinafter provided,
| a Cotton Warehouse System for
the State of South Carolina.
Section /. There shall be
elected by tee Genecal Assem-
bly, forthwith suitable person
to be known as the State Ware
house Commissioners, whose
salary shall be three thousand
| (S3. .00O) dollars per annum, and
who shall hold Office for the term
of two (2) years, or until his sue
cessor is elected by the General
Assembly.
Section 2. That the Ware
house Commissioner shall ex
cept as authoritative the stand
ards and classifcations of cotton
establiahed by the Federal gov.
eminent.
Section 3. The Commissioner
shall have the power to acquire
property, for the warohousing
of cotton, by lease, and settle
the terms upon Which private or
corporate warehouses may OBJ
tain the benefit of State opera
tion. And it shall be his spec
ial duty to foster and encourage
the erection of warehouses in
the various towns in the several
counties for operation under the
terms of this Act, so as to local
| ize the storage of cotton as far
as possible.
Section 4. Tee said Commis-
|sioner shall also have the power
to sue or be sued in the Courts
under the Civil Code Of South
Crrolina, upon the same terms
as an individual or corporation,
the action to be against or by
him as representative of the
Estate, and not as an individual,
except in case of tort Or NEGLECT
of duty, when the action shall
be upon his bond. Suits may be
brought in the tounty of Rich
Hand, or in the county in which
the cause of action accrued: Pro-
Ivided, however, That the
weights. classes and grades of
cotton on storage are under this
Act only guaranteed by the
Estate in favor of those who loan
money or buy cotton stored in
warehouses. Provided, further,
That the State shall not be re-
sponsible for such fluctuations
in weights as represented or
dinary climatic conditions. The
Board, where fully satisfied as
Ito the title to same, shall receive
for storage lint cotton, properly
baled, with an inpection tag,
showing that it has been legally
weighed, and that a Federal or
State inspection, as may herein
after be provided, has graded
said cotton. There shall be re-
ceipts issued for such cotton,
under the seal and in the name
| Of the State of South Carolina,
stating location of warehouse,
name of manager, the mark on
said bale, weight, grade: wheth-
er long or short staple. so, as to
able to deliver on surrender of
receipt the Identical cotton for
which it was given. The re-
celpt for cotton so stored to be
transferable by written assign
ment and actual delivery, and
the cotton which it represents to
to be deliverable only on phys
ical representation of the re.
ceipt. witch is to be marked
'Cancelled" when the cotton IS
taken from the warehouse. The
|said receipt carries absolute
title of the cotton, it being the
duty of the officer accepting
same for storage, by inspection
of the clerks ofie, to ascertain
whether there is on file crop
mortgages or liens covering said
cotton before he accepts and is
sues a receipt: Provided, how.
ever. That in case of all cotton
deposited hereunder any lien
thereon shall be and take effect
only as of the date of the execu-
ton thereof, the registry laws of
the State to the contrary not
withstanding. II sha' be the
duty of the Clerk of Court or
ReoiSter of COnvevanceS of the