The Union times. [volume] (Union, S.C.) 1894-1918, 1917-06-08
The State Ware
House System

The law providing for the "Cotton
Warehouse System for the State of
South Carolina" was passed at the ex-
traordinary session of the general as
sembly in October, 1914.
1t was entitled can Act to Regu-
late the Storing, Grading and Market
ing Of Cotton"
Its. purpose was 'to protect the peo-
pie OF this State from irrcparable
loss, to provide some general plan for
warehousing, and to finance the crop
by converting cotton into q negotiable
security which will command respect
in the money markets of the world"
1t was designed to establish Il Cot
ton Warehouse System "within the
police powers of the State and for the
general welfare"
The administration of the system
was placed in the hands of the State
warehouse commissioner who was
elected by the general assembly for
the term of two years.
The State warehouse commissioner
IS required to give "a bond to the
state of South Carolina in the sum
of $4,000 to guarantee the faithful
performance of his duties"
The commissioner is empowered "to
acquire property for the warehousing
of cotton and to supervise the op-
Grafton of warehouses through bonded
managers.
The cotton stored in a warehouse
system is at all times and automati-
cally covered by insurance.
'The Narahouco cop, ,p,;cc;o,o, ,b, II
accept as authoritative the standards
and classifications of cotton estab-
llshed by the Federal government"
For all cotton stored in a State
warehouse the commissioner shall is
sue receipt "under the seal and in
the name of the State of South Caro-
lima"
Every bale of cotton stored in a
State warehouse must carry a tag
showing that it has been "Iegallv
weighed by the manager of the
warehouse and that it has been grad
ed by "a Federal or State inspector" :"
The warehouse receipt issued for
the cotton must state the "ocation of
warehouse, name of manager, or
agent of the warehouse, the mark on
the bale, weight, grade and whether
long or short staple, so as to be able
70 deliver on surrender of the recent
the identical cotton for which it was
given"
Inc said receipt carries the abso-
lutte title of the cotton" the recent is
transferable by written ASSIGNMENT
and actual delivery"
"The weights, classes and grades of
cotton on storage are under the act
only guaranteed by the State in favor
of those who loan money or buy cot
ton stored in warehouses;"
Cotton represented by the wate-
house receipt is deliverable only oh a
PsSsiea5 ;e;, pEesentati4RaI Pss,.s P1se s:esSist
the cotton is taken "4scp' the wa re-
house."
Any manager or other employed of
a State warehouse who shall fraullu-
lently issue a receipt or a duplicate
receipt for cotton, or who shall Ole
liver cotton from a warehouse with
out the production of the receIipt
which is to be marked cancelled
when the cotton is taken from the
warehouse"
Any manager or other employee of
a State warehouse who shall fraudu-
lently issue a receipt or duplicate
receipt for cotton, or who shall ode.
liver cotton from a warehouse with
out the production of the recent
therefor, or who fails to mark such
receipt cancelled on the delivery of
the cotton" shall be heavily fined
or imprisoned, or both fined and i'm
prisoned. "Any person who shall de-
posit or attempt to deposit cotton
upon which lien or mortgage ex-
lists, without notifying the manager
of the warehouse, shall be punished
by fine and imprisonment for a period
of not more than one year, and fine
not more than one thousand dollars"
Benefits to Farmers.
Under the unusual conditions which
have prevailed during the past three
years the State warehouse system la.
| been subjected to the Severest tets
and has proven a success-a graf
! blessing to the cotton farmers of
South Carolina. The benefits have
been manifold:
D. The building of a warehouse
in a community has aroused the spirit
of cooperation among the farmers of
that community. Mutual helpfulnss
leads to unselfish service and to he
actual practice of the great motto If
agricultural corporations; "All Or
each, and each for ALL"
(2). The concentration of all cottn
grown in a community in a loalI
warehouse has made it possible ed
easy for the farmers to make COZ
bined sales, selling in hundred bic
lots rather than by single bales or n
small lots.
(3). Each sale as it is stored ira
State warehouse is "legally weighe"