Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-10-12
WAREHOUSES; MAY COMBINE
MeLaurin Says Plan 10 to Head Of
State Warehouse System.


State Warehouse System.
The formation Of a big warehouse
corporation by merging thS Standard
Warehouse company Of Columbia, and
the South Atlantic Warehouse COM
pany Of Augusta, Ga, is now being
considered, 1t became known here to-
day, says Columbia dispatch Of last
Thursday. The idea is to have COM
pany with a capital Of 100000, and
to extend the warehouse system
throughout Georgia and South Caro-
lima, and probably over the entire
cotton belt. II the proposition goes
through it is said that warehouses to
store thousands Of bales Of cotton may
be built at principal points in the
two states
The proposition for the merger came
from the Augusta company to the
Standard Warehouse company, a A.
nancial representative Of the Augusta
company having come here from New
York with the proposition. 1t is UNDER
stood that at a meeting Of those in
terested here today, a committee was
named to take up the matter with the
stockholders. The new company, II
formed, will buy up the stock Of the
Columbia company, it is stated.
The proposed warehouse concern
would be gigantic affair, one Of the
biggest private corporations in the
south. They propose to negotiate
loans on warehouse receipts for cotton
stored with them at low rate Of in
terest.
State Warehouse Commissioner John
L. McLaurin thinks this private ware
house concern is forming to combat the
state warehouse. In a statement is
sued he said.
There was meeting in this oity
today Of the owners Of Standard ware
houses in this state and Georgia to
form a huge combination to head of
the state warehouse system. have
in my possession copy Of the letter
calling this meeting at the instance Of
large capitalists. They do not permit
the farmer to store his cotton where
1t was grown and they call specific at
tention to the danger to their interests
Of the South Carolina state warehouse
system. Whether this conspiracy Of a
class whom Roosevelt described as
'malefactors of great wealth. will de-
stroy what has been done depends on
the people. I have no millions to back
me, only faith in God and hope in the
people"
T. B. Stackhouse is president Of the
Standard Warehouse system, while Mr..
Barrett Is head Of the South Atlantic
Warehouse company. The rumor that
II the merger goes through that Mr..
Barrett would move to Columbia and
head this branch was denied by an
official of the Standard Warehouse
company, who said that Mr. Stack
house on yesterday was reelected
president for another year.
Few details Of the proposed ware
house merger could be obtained, for 1t
was stated that the Standard Ware
house had not yet given a definite
answer to the Augusta people.
Senator McLaurin said tonight that
the plan Of the state warehouse sys-
tenn had all along been to build a big
concentration warehouse at Charleston
where the cotton would be collected
for export. The new private ware
house company II formed, may also
build a big warehouse at Charleston.
John l. McLaurin does not know
anything about it. He is pretty much Of
Of a hot air artist anyhow said an
official Of the Standard Warehouse
company, Friday afternoon, according
to a Columbia dispatch to the Spar
tanburg Herald, in discussing the pub
lished charges that gigantic ware
house company was being formed to
fight the state warehouse system. The
new concern was reported to have a
capital stock Of s1,0OO.O00. being back
ed by Georgia and South Carolina
capital. Officials Of the Standard
Warehouse company said that several
business men had been informally dis
cussing the question Of large sys-
tenn of warehouses, but that mo def
mite proposition had been made. We
have never for once thought Of the
state warehouse company" said an
official Of the Standard Warehouse. 1t
Is said that the South Atlantic Ware
house company Of Augusta, Is inter-
ested in the new proposition.