The county record. [volume] (Kingstree, S.C.) 1885-1975, 1919-07-10
Benefits To Farmers.

years, the State Warehouse System
has been subjected to the severest
tests and has proven a success
great blessing to the cotton farmers
OF South Carolina. The benefits have
been manifold. :.
1.-The building of a warehouse
IN a community has aroused the spir-s
it Of cooperation among the farm.
ers OF that community. Mutual help
fulness leads to unselfish service and
to the actual practice of the great
motto of agricultural cooperation:
"All for each and each for ALL" :,
2.-The concentration of all cotton
grown in community in local !;
warehouse has made it possible and
easy for the farmers to make COM
bined 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 legally weigh
ed" and carefully graded by a Fed
eral or State Inspector" the owner
of the cotton is given a warehouse
receipt which accurately describes
each bale, so that "the identical cot
ton" can and must always be deliv-
cred upon the surrender of the re-
ceipt; thus the owner can intelligent
ly market his cotton in and through
a State Warehouse and always sell
at top-notch prices.
4.-"The said receipt carries the
absolute title of the cotton" and is
transferable by written assignment
and actual delivery" Such receipts
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"
5.-The warehousing of cotton be-
comes a protection against damage
by the weather and against loss by
fire.
Ga 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-
ceptionally low insurance rates. All
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 receipts is easily nego-
table at the value of the cotton on
the day the loan is made, every ele-
ment 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
cotton 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 a plan for State
System of cotton marketing so that
the producers, rather than the spec
ulators, may be able to supply the
monthly demands of the mills.
9.-Warehouses with capacity of
200 to 500 bales can be constructed
in the rural districts or on the plan
tation at a cost but little in excess
OF $1.00 a bale, and a 1,000-bale
warehouse can be built for less than
S1.00 bale. This means a warehouse
constructed of metal. Plans, blue
prints and specifications meeting all
the requirements of insurance COM
panies will be furnished free of cost
by the State Warehouse Commits
sioner.
10.-The community or plantation
warehouse can be made a part of the
State Warehouse System in the fol-
lowing manner: The Commissioner
rents the warehouse at a nominal
rental of $1.00 year, and then is
sues to the owner or owners COM
mission or license to operate the
warehouse, charging fee of $500
for this commission or license. The
Commissioner appoints a suitable
person warehouseman, and this
warehouseman enters into bond
(ranging from $1,000 to $4,000 for
the faithful performance of his du-
ties. The warehouse thus becomes
mart of the State Warehouse system