The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1917-06-13

house without the production of the
receipt therefor, or who fails to
mark such receipt cancelled on the
delivery of the cotton" shall be
heavily fined or imprisoned.
"Any person who shall deposit OF
attempt to deposit cotton upon which
a lien or mortgage exists, without
notifying the manager of the ware:
house, shall be punished by fine and
Imprisonment for a period of not
more than one year, and a fine not
more than one thousand dollars"
Benefits to Farmers.
Under the unusual conditions which
have prevailed during the past three
wears the State Warehouse System
has been subjected to the s~everest
tests and has proven a success-a
great blessing to the cotton farmers
of South Carolina. The Dement'S
have been manifold.
% The building of a warehouse
in a community has aroused the splr-
it of cooperation among the farmers
of that community. Mutual helpful
ness leads to unselish service and to
the actual practice of the great mot.
to of AGRICULTURAL cooperation; CAL
for each and each for ALL"
(2) The concentration of all cot
ton grown in a community in a To-
cal warehouse has made it possible
and easy for the farmers to make
combined sales. selling in hundred
bale lots rather than by single bales
or in small lots.
(3) Each bale as it is stored in
a State Warehouse is illegally weigh
ed" and carefully graded by a Fed,
eral or State Inspector" the owner
of the cotton is given warehouse
receipt which accurately describes
each bale, so that "the identical cot:
ton can and must always be delivered
upon the surrender of the receipt
thus the owner can intelligently mar
ket his cotton in and through a State
Warehouse and always sell at top
notch prices.
az I"The said receipt carries the
absolute title Of the cotton" and is
transferable by written assignment
and actual delivery" Such receipt
is issued "under the seal and in the
name of the State of South Carolina"
and is guaranteed by a "bond to the
State Of South Carolina in the sum
of fifty thousand dollars"
80 The warehousing of cotton
becomes a protection against damage
by the weather and against loss by
fire; every community or plantation
warehouse is automatically insured
by a blanket policy to the amount of
$4,000 and additional insurance can
be secured by any warehouse just as
it is needed.
(6) A contract with one of the
leading insurance companies of the
United States has been made and
duly executed, and cotton can be
stored in a country warehouse at eX,
c~eptionally low insurance rates: AL!
insurance is handled by the office OF
the State Warehouse Commissioner
~ The receipt issued by a State
Warehouse. is recognized today as a
very desirable security for a loan
and is readily accepted by the banks
of South Carolina as well as by the
largest financial institutions of the
country. Such receipt is easily ne
gotiable at the value of the cotton
on the day the loan is made; every
element of risk is eliminated, for the
recent is always worth more thar
the face value of the note given fo'
the loan. e-o~
Isl The State Warehouse Systen
has enabled farmers to market thel1
cotton crop gradually and only wher
the price is satisfactory-in othel
words-to sell cotton when there II
an active demand for by consuming
nlants. The Commissioner is nov
developing a plan for a State System
If cotton marketing so that the pro
ducers, rather than the spectators