The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-01-16
COTTON WAREHOUSE atpus1
TWENTY-EIGHT WAREHOUSES;
WITH CAPACITY OF $1,000
BALES.
Nsi.aurin Makes IL ions---
Says South Carolina Can Provide
storage at Ratc or 10 Cents Bale
Per Month.

tenn. the first to be organized I'm the
South. has been issued by John L.
McLaurin. commissioner. The gener-
MI assembly at the special session held
last october appropriated $4,000 for
the expenses Of the system and the re-
port by the commissioner shows that
$500 has been expended. including
all bills payable.
There are now twenty -eight ware
houses under the system. with an as-
gresate capacity OF $4,000 bales. y
supplement report Is to be fled later
as To the amount OF cotton on hand.
rates Of insurance and every item Of
financial transactions.
The commissioner says that a State
cotton warehouse system should pro-
vide ~ follows:
Cheap storage. with low interest
rate. 30 as to encourage the gradual
marketing OF the crop.
Reducing the cost OF marketing by
bringing farmer and spinner into di-
rect contact, eliminating mid clemens
pront. to the advantage Of the pro-
ducer and the manufacturer.
Transforming cotton into "A negot,-
able security that will pass current I'm
the money markets Of the world and
AFFORD az acceptable collateral for use
under the agricultural section of the
currency act.
The commissioner says that the last
named has been accomplished. but
that with an appropriation Of $4,000
he has not been able to build and
equip warehouses as required. He
says that no authority is provided un-
der the warehouse act to the com.
missioner to aid persons with cotton
on storage to negotiate loans nor is
there any authority to make sales OF
cotton to either domestic or foreign
spinners.
After careful investigation" says
Mr.. McIaurin. II am prepared to say
that the State OF South Carolina can
build warehouses and store cotton at
rate Of 10 cents per bale per month.
and put by q sufiicient amount In a
sinkins fund to pay for the property
In . period Of twenty years.
With q compress AMI with author
ity to act i could sell cotton direct
from such a warehouse to the foreign
mills. saving the charges Of from six
to eight middiemsn In each case.
"A small commission on such loans
or sales would soon pay for the ware
houses and provide funds after that
for constantly adding to the number"
The commissioner says that IL the
state had one plant as a beginning,
located In Columbia. with a com press.
Just a''this time. the salo OF a single
cargo Of cotton !a Europe at rs cents
n pound. which Is being paid there.
would have tremendous moral ef-
feet In advancing the price OF cotton.
The future price of cotton. the COM
missioner says, will depend on the
acreage and the production in 1915.
Amendments suggested by the COM
missioner are:
suggest that the law creating the
warehouse system be amended I'm tho
following particulars:
1. That tho State warehouse COM
missioner be authorized to make sales.
when requested by parties having cot
ton on s'orage. to either foreign or do
nestle spinners. and that you provide
tho sum OF $4,000 to be used I'm the
inauguration of this feature.
=. That the provisions i'm the act
as to certain counties being permitted
to build county warehouses to oper-
ate under state management SO as TO
get the advantage OF the state re-
ceipts. be extended to all the coun-
ties OF the state. and thus localize the
system I'm the various counties and
thereby cheaper the cost of opera
ton without weakening I'm any way
the strength of the State warehouse
system.
Cotton from these county ware
houses could be shipped. on milling
rates. via the compress and go at
one rate OF freight from the farm to-
mill In Europe or elseO here.
One Of tho most expensive features
connected with the operation of the
state warehouse act Is the heavy
rate of Insurance. IL there Is any way
I'm which u can be done through the
sinking fund commission. so as to get
a. cheaper rate OF insurance. | would
be s'aS to avail myself of the oppor-
tunity.
think. however. 10 I am given the
Il.