Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1917-06-13

comes a protection against damage
by weather and against loss by fire.
Every community or plantation
warehouse is automatically insrred
by blanket policy to the amount of
$4,000. and additional insurance
can be secured by any warehouse lust
as it may be needed.
e. a contract with one Of the lead
ing insurance companies Of the Uni
ted States has been made and duly
executed, and cotton can be stored in
country warehouse at exceptionally
low insurance rates. All insurance
is handled by the Office Of the state
Warehouse Commissioners.
Z. The receipt issued by a State
warehouse Is recognized to-day as a
very desirable security for loan and
Is readily accepted by the banks of
South Carolina as we'll as by the larg-
est financial institutions Of the coun-
try. Such receipt is easily negota-
bic at the value OF the cotton on the
day the loan is made; every element
OF risk is eliminated, for the receipt
is always worth more than the face
value OF the note given for the loan.
s. The State warehouse system has
enabled farmers to market their cot
ton crop gradually and only when
the price is satisfactory-in other
words. to sell cotton only when there
is an active demand for it by con-
suming plants. The commissioner is
now developing plan for State
system Of cotton marketing so that
the producers, rather than the specu-
lators. may be able to supply the
monthly demands Of the mills.
.. Warehouses with capacity of
200 to 800 bales can be constructed
in the rural districts or on the plan
tation at a cost but little in excess of
81 bale. and a 1,00O-bale ware
house can be built for less thanBS1 a
bale. This means a warehouse con-
structed OF metal. Plans, bueprints.
and specifications meeting all the re-
uuiremcntS OF insurance companies
Will be furnished free Of cost by the
State Warehouse Commissioners.
~. The community or plantation
warehouse can be made part of the
state warehouse system in the follow
ing manner: The commissioner
rents the warehouse at nominal
rental OF a year, and then issues
to the owner or owners commission
or license to operate the warehouse.
charging fee OF 50 for this commits
appoints a suitable person ware
houseman and this warehouseman
enters into Il bond tranging from
1000 to $4,000 for the faithful
performance Of his duties. The
warehouse thus becomes part of
the State warehouse system and IS
given number. When warehouse
man Is ready for business, the COM
missioner has the warehouse covered
Dy blanket Insurance policy TO
amount or $4,000. Daily reports OF
cotton stored in or withdrawn from
the warehouse are made to the Of
lice OF the State Commissioner.
record OF each and every transac-
tlon OF the warehouseman is kent in
the commissioner office.
II. The owners OF a community or
plantation warehouse can store at ac-
tual cost-three cents a bale 4
month for time cotton is in storage,
and the insurance. The insurance
rate is $l.oS year OH the 500 val
uation Of cotton. This insurance Is
pro-rated on cotton stored for less
time than year. The cotton is val
eud at market price of grades on
day cotton is stored and the amount
OF insurance is determined by the
weekly average Of price of cotton
during the period OF storage. The
charge OF cents bale a month
goes toward the expenses of the COM
mlssloners office. The insurance is
paid monthly, while the storage
charges are not paid until cotton is
Withdrawn from warehouse. All per-
sons not interested in the ownership
of the warehouse pay usual charges
oho
clude the cents a bale month and
the cost Of insurance.
12. The f~.mer having cotton I'm
warehouse connected with the State
warehouse system has full protection
against loss-under the bond Of the
local warehouseman, under the bond
or the State Commissioner, and un-
der an insurance policy OF $4,000 or
more. The cotton is stored in the
community where grown and can be
SOFA any hour OF any day Of the year.
Farmers Should Co-Operatc.
The farmers Of each community in
every cotton-producing county in
South Carolina should unite in build
lng warehouse; the owner Of every
glnnery should operate warehouse
for the accommodation OF patrons;
every farmer making 100 bales of
cotton should have a plantation
warehouse, or two or more farmers
should combine in the construction
of a warehouse with capacity suffi-
cicnt to store their own and their
neighbors' cotton. If there were
enough warehouses in the State
warehouse system to store all the
cotton grown in the State (about L.
100000 bales). the farmers OF South
Carolina could control the market
ing OF their cotton crops. selling
81 rctlY ON grades and only whnn the