The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-03-18
COlTOH Manufacturers
1.APPR0VED DUKES PLAN

The proposed warehouse compan,
should have not less than five mil.
lion dollars capital and as much more
as should prove necessary. Its integ.
rity should be of9 the highest charac.
ter, so as totcoinwand confidence ano
respect throughout the financial cen.
teFs OF the world, for only In this way
can the cheapest money be obtained in
cotton, which iC the best collateral ir
taa world. today.
TDe farmer now has to market his
cotton almost as soon as IL is grown
the large volume of cotton coming ON
TIE market in the early fall depresscs
tine price ut this season. II the sarrI,.
er coIld hold his cotton and nark,,t
u Ircm time 10 time he would average
better price. The cotton napufa,,- =
.uler has to tie up great tlanl az
capital buying cotton. far ahead of his
needs for 1t TO meet present manurac :
turing demands The middieman, ow-
Ing to lack OF adequate warehouse fa-
c;iii'es cannot properly utilize Ills
cotton as collateral,
9hieet 6f Plan
Under Mr.. Dukes plan Shrnugl,opt
tie South there would be acouire.l nnd
buiIt sufficient warehouses 10 nroner-
ly store the cotionicrop. Tho rsceints
trolii ihese warehouses would be stan
dard an0 the company operating Them
would have sufficient capital In al
ways back up its warehouses and thew
would have charaeles ard s;ssn;s,;E ;i,
-. :::s.::;S:si yviiu Inui1s5 wuuIu saIIs-
~ the purchaser In Europe OF the
North OF note based bn a warehouses
receipt for cotton thai the cotton was
ACTUALLY in a stan aasa warahnmse,
properly protected agtiinst Are and s,;f.
tieiently covered by Insurance.. and
thaf when the :ctee eessii4sssss ee4ssii4sssss dIie itt wouid
be paid. s.' - $ Sl.1
the proposed new company wonId
take over existing staHd ard warehoua,,
at an appraised valuation. Most biz
Cotton mills have standard warehonsas
but they would not care to sell them.
as II would be difficult to give titles
With right of egfess, 60 it was plaflne.i
10 have two classes of3 stock. the cot
tor mills leasing their warehouses; to
tie eqEppEily y for twenty years and re-
eesFff9 8 On g 1f 81 ect II eoneidera
ton for these leases 4 while sTs05i,av
class Of stock would Sc fsaueds q, tflTe
otte oslfn1efcItli wars tit;ess or To- pro !.
vide ditional warelteua = y,
lstRe the cenip pahyi-a ssfflieierf reserve
capital 10 enable them To pfonautIs,
care for pansr as 1t fell due.
3 Aar. Lee stated TINT he knows Mr.
Duke well and he knows that the pro-
rnoter OF this idea Is not seeking to
further his own interests, hut To make
an effort to develop the Piedmont sec.
esn- - IT. a-Iss::iss;sss fi,s05sibiiities. Tnat
IL the per 9la gha en- insc .Aa a.;,;;;,.
sitlon wish, Mr.. Duke viii take stock. !.
If they do not wish, he will take no
stock. In either event he Will be viii
ling 10 advise them end 20 aid them.
Mr.. Lee said that MrsiIJnke could not
have been hired by any enterprise to
give his time as he had to this promo
sition and that he had given il wiz
lingly for the uplift of commercial
conditions In the south and he wishes
10 push 1t on to success.
Lewis w. Parker
Following Mr.. Lee. Lewis w. Park
pr, head OF the Parker eotton mills.
declared that this plan had long bean
} dream Of mis- life. He referred to
The standard swareh ehousa system and
the Piedmont warehouse system as
steps In the direction OF obtaining this
great end He commended the men
who had come back TO build up the
Hiedmon L section In which he was born
and to give this great OPPORTUNITY TO
he men of the Car6linRs.
Farmers have had through neeessi-
y to throw their cotton upon the mari
Set at tfmea when it did not suit them. !
fhe mills have not been able to buy
It times when the farmer wished 10
,eil. For IT. fs fact s,,(d III, 5rfslaKat Z