The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-03-31

4
tihcate hereto attached would stand
for one hundred bales or any less
number.
/ Heretofore cotton warehouses have
issued receipts which made them re-
sponsible for nothing except to store
cotton and deliver Il when called sor
Most Of these receipts disavow respon-
siaiiity for qsallty. shrIht and
leHeR claim the right of fion.
They stand for nothing exec "
er q bale, OF cotton
Must Guarantee EFeFythIRR.
THE certificate / propose guaEan.
tees, everything. The cost OF storage
under this certificate would be same
as under the old. In addition TO this
storage cost there would be charge
OF save so cents q bale fer expert
grading and guaFantee of grade and
for guarantee of weight, strength and
other characteristics as provided for
in the blank form.
"The company issuing these certi-
ficatcs would haye 20 establish its. re-
sponsibility beyond doubt; such a
company might or might not own
warehouses. Whether It did or not It
conld issue certificates in nswarehousea
other than Ito own, Itcouid issue
certificates OF all.cotton for ehipRent
omitting the warehouse feature.
"such certificate would so accurate.
ly, represent q bale OF cotton as to
make its buying and selling easy ana
safe In any Of the cotton maYkets Of
the: world or make 1t safe eollateral
in any of>the! financial markets OF
Americl or Enrope.l a sii5.
1t woIld tremendously 3 facilitate
trading In cotton because specifica-
/ tions couid De copied anu lTsT=-ssras. lsT sT-sT,as;s;;..
to O number Of different people to chow
! what cation was for2salss when q.
4 trade vasamade the certificate could
be forwarded through the. banks"
| To Gsftea Parngesat,
Tho fuller details of Nj Tompkins'
plan, which are4hiEhiy 1Ataresting by
reason OF the fact that they fofeshad-
ow so clearly the primary afeatnres of
tie latest undertaking.. are confined,
in the address, wiijah Mr.. TomHkiBs
deliyereri at the convention >of' the Ma
tio1al Cotton Association heldit; Il,
shreveport. La. Decembeft t12lt5, 1904 !
on "Cotton.-The bGiiI alaf.s POINT of,
tyiSw.R This addre5S 2as dffecfed at
the problems eontrsa ti9se 4hs fatsner
and the spinner md iwEs deafshsd to;
sHow wherein the. sitnaftoh snikhs. ba
battered, the various features tonShed
upone being the boil @sayiis the deter
n1laation ssss sss the AsiinneFk o., ssEEt to.
foster and deyesaP the piei eiiaetfon OF
cotton IN other rarts. OF the world
the inereasihg scarcity Of .laboEistt1a.
BILE for cotton farms end ,apecuiation.
In CONNIE ectio1 with..iile paragraph on,
4 specplation. the essential points sof d
warehonsing plan were anhlnefsted,
which have been ever since the esseR-
tiai feGtureB:os every sTEtsh hoaS5sss;;ss ,nss-,
dert.k This calls for standard
wareh0uses wheae cotton coulG be
stored ana insured AFTER. being grader
and q warehouse receipt Issued for it,.
sss fssss:s>-s:..e 8 e s sl.z
effui warefiousiliS: eonlhaHS would az
ford first 7class collateral. iii any OF
the money markets OF the worlGss 5;
- The picture that accompanies lS,s
article lisa; copy. OF the tnyteat stand
rd waretIouse which Mr.. ToRpkins
sagEestsd at this Shrsre ccnven-;;
tiohs IN 1904 s,i58
! In AtlaI5ta. - :,
In an address in ,Atiants, in 1905,
! M. Mr. Tomnklns again oulIined the ga.
lfent features ,of hla spien, ,as follows.
Eve hage alt apprecta ated EloFs Sor.
less this of some means 10 aEsI-.
age the eondilloa to average the
fsadaRttt OF cotton iieIiyefeH annual
I.is there shoaId be yarehcase
'ttpfosidsd 70 earFgytie agrplvb from TIE
fun eESsite ma ub tho esici eesi "a
lean yea Many warehouse have
been bniJt but st transpires fiiat
/ wass house room Is but one factor iIif
the reform needed in the commerce %:
cotton. Al bale of; cotton III d wareS
4 house sisnitlss tl1thfag to, the; distant,
fIialfttEis isll money TO invest. Tite EIiF,o-;
psan apinHes :fop example sioSan.t,
1 hteH ant tshIng abdut me rsspossibits7 :
| fly OF the iyeal warehouse company.
Therefore the receipt OF i local wares
4 house fer cotton Is not negotiable In
. a. a.sF