The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1920-01-07
HIa CORPORATION
30 STORE COTTON
Gigantic Company Formed to Extend
Over South, BUYS In This State.

Over South. Buys In This state.
Washington, d. c., Jan. Arrange
ments arc practically complete Tor
the formation OF a gigantic corpora
ton to- combine and standardlzc a
large portion OF the cotton compress
ing and warehousing facilities OF the
South and to establish new ones on
an unlimited scale throughout the cot
ton belt. effective Charleston, Colum-
bia and GreoEvilla Announcement
Of the undertaking was made today
by Rufus z. Wilson, secretary OF the
National Association OF Cotton Manu-
facturers. Mr.. Wilson Is also presi-
dent OF the World Cotton conference
which, at its recent meeting In New
Orleans, declared adequate warehous-
ing to be paramount necessity" in
handling and distributing the Amori-
can cotton crop. Identified with the
undertaking are many prominent
Southern and Eastern cotton spin
ners, producers. brokers and bank
crs. Arrangement already has been
made, declares Mr.. Wilson, for ac-
during established properties worth
millions. including no fewer than G5
compress plants.
The corporation in process OF for
nation will be known as the Union
Warehouse Compress. The organiza-
ton is being perfected by the Union
Cotton Warehouse Organization cor
poration which has had experts sur
vey the whole field Of warehousing
and compressing of cotton and work
out plans of development that have
been approved BY the hackers of the
enterprise. Options have been taken
on scores OF congresses and ware
houses as we'll as sites for new ones
in various localities Of the Sout!.
where additional facilities arc needed.
1T has long been well known In the
cotton industry" says Mr.. WllsonN
that sufficient facilities already exist
to house most Of the cotton offered
for storage. However, the ALLEGATION
of these warehouses is such that they
do not adequately serve the storage
needs OF the producer, merchant an
spinners. They are not located with
respect to distribution so as to best
serve the needs Of the trade. For this
reason much cotton that ought to be
stored is now kept in open lots, streets
and ON plantations with the result
that each years crop suffers millions
of dollars worth Of loss from country
houses are so poorly constructed and
carelessly operated that insurance
rates for cotton stored in them are
abnormally high and receipts for
satisfactory collateral for bank loans.
Many Southern bankers declare
they would rather loan money on cot
ton than on real estate but the
trouble has been and STILL with the
character Of the wal ehouse receipts
rs evidence OF the cotton's safety.
ownership, weight and delivery abil-
ity.
Fully conversant with these con-
ditions and tho need for improving
them both in the interest of the grow
CT and spinner, a group OF men con-
cerned from various angles with the
cotton industry are organizing a cor
poratlon for tho purpose OF standard
izing warehouses In both the South
and the North
Inasmuch as cotton warehousing
and compressing are allied opera
tions the Union Warehouse and Com
press companies will enter extensivee
ly into the compression OF cotton with
the view OF comprossing as many bales
as possible to an even density. High
density presses will be Installed In
those plants where such presses arc
not use4