The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-09-10

to hold in security and under its
own control all Of its cotton properly
financed unreasonable cost; The cre-
alton of the unhrokcn chain of the
warehouses throughout the belt, free
from outside control and Interference
detrimental to the interests. of pro-
4Eef.s-nannf cfurer or consumer is
now. asufcd ana is only a matter Of
time "A striking example of what
ran be done and will in all probable
ity be done throughout the South
mas already been furnished by Spar
.2nburg county in South Carolina. This
ounty has raised 100000 to build
it's warehouses in which to shelter
and hold its cotton until it be deliver
ed undamaged condition direct to
.he manufacturer. The nlanufactur-
,er. likewise, will in this way be- pro-
tected against great loss from wealth
er damaged cotton. The local banks
and trade and bank acceptance cor
poration Will finance the warehouse
cotton.
THE Spartanburg bankers. mer-
chants and farmers who are leading
in the establishment Of their ware
houses are doing far more than they
imagine. They are working not only
Cor themselves but for the whole
south. The success Of their plan eau
not be doubted, and with it's assured
and great benefit to all concerned
their example will be followed by
thousands of other communities and
counties until the whole unbroken
chain is established.
"After ell this warehousing Of cot
ton in the way outlined above IS g
sound business proposition. The sill
full waste of cotton when unprotected
from weather. the resulting deterior-
alton in quality, the loss in weight
the decrease in price or the forced
sale of cotton at an unfavorable time,
the crazy and ruinous fluctuations in
prices Of cotton from hour to hour
at the wl1im of gamblers on the cot
ton exchange will all be stopped By
the establishment of such chain Of
warehouses locally owned and con-
trolled, operating under State laws
and financially backed by Southern
bankers No better asset on which
to lend money can be had than cot
ton. Properly protected, it. is prac-
tically indestructible. 1t is, further
moro. liquid asset, and is as good as
rcld in the form of security. And
cotton thus warehoused, financed and
marketed. will. for the first time in
many years, be sold at a just and
stable price based or supply and de-
mand for it will no longer be forced
on the market to be bought at the
lowest possible price. The plan will
then work out to the benefit Of pro-
ducer. manufacturer and consumer.
for the manufacturer will be perfect
ly willing to pay to the producer
reasonable profitable price for his cot
ton since he will no longer need to
fear that his competitor may be able
tomorrow. through ciiminally manip-
ulated prices to secure the same cot
ton at a much lower cost.
"The American Cotton Association is
gratified to see coming into rcaliza-
ton it's avowed purpose to aid in the
establishment Of this chain of ware
houses locally owned and controlled.
1t is Delighted TO Know tnat Olnei
counties and cotton centers are al
ready beginning plans for their
warehouses Confident that untold
good to the whole South will result
from the plan it unhesitatingly
,,rres farmers business men and
bankers everywhere to give their full
support to the work of establishing
e,ood ,pd ,p,p1o ,rarehOI1SeS in every
community and through the creation
Of trade and bank acceptance cor
porations to aid tho banks in financ-
ing the warehoused cotton"