Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-07-11
BIG SPOT COTTON MARKET
is PLANNED FOR ATLANTA
Cotton Storage Company,
Operating Gambler Ware
house, viii Have Facilities
forStoring 100000 Bales

A spot cotton market equaling
those at Memphis and New Orleans
is planned for Atlanta by the re.
cently-organized Cotton Storage
Finance company, capitalized at
100000, which began operations
July / as lessees of the Gambler
warehouse, one of the largest and
best-equipped plants in the coun.
try.
Full details Of the project, an.
nounced Saturday by officials Of the
finance company, reveal plans to
make Atlanta fake first rank as a
spot cotton market and as a stor-
age, handling, concentrating and
distributing point for Georgia and
the south
Samuel Martin, manager Of the
Gambler warehouse before it was
Communicated by the war depart.
ment during the World war, and a
man of over forty years experience
in cotton warehousing business, will
be general manager of the new plant
and will be assisted by experienced
department heads.
With capacity for storage Of
100000 bales of cotton, the fireproof
construction Of the Gambler ware.
house, which covers forty acres, en-
ableS its lessees to obtain the low
est possible rate written by any in
surance company, it is stated. Well
organized financing and sales depart
ment will offer attractive features
to cotton farmers.
Bales Receipted
Every bale of cotton received at
the warehouse for storage will be
receipted for by the Shippers Com
press company, which will operate
the compress department, and by
the finance company, whose certifi-
cate will certify the weights, marks
and grades of respective lot Of cot
ton stored. This two-l anne receipt,
declared to be the strongest ware
house receipt ever devised, will con-
stitute a double check on operations
and the receipts and certificates Of
both corporations must be cancelled
before the cotton can be withdrawn
from storage.
Storage facilities in the warehouse
will not be limited exclusively to cot
ton, it is announced, but grain, au.
tomobiles, merchandise and other
Will SUI GU anu LlS-
gotia'1le receipts issued. Certain
sections of the big plant will be Of
fered firms, corporations, and indi-
viduals desiring space controlled ex-
cluSively by their agents, it is stated.
The financing plan provides that
owners Of cotton stored at the ware
house, who desire loans, may tender
their notes to banks for rediscount,
secured by the Endorsement of the
finance company, and by the specific
collateral of the borrower, to which
will be- attached, the r eipts. o. the,
,tISo1upress TrDIA pa ny ind orsed BY the
Storage Finance company.
To Keep Stock
Sufficient lots of cotton will be
kept on hand at all times, it is
stated, to attract spinners from the
Carolinas and other southern points
as factor in building UP Atlanta
as a spot cotton market. The sales
department will exhibit cotton sam,
pies daily for the bids of the various
mills AID merchants.
{ Officials of the finance company,
realizing owners of cotton stored III
their warehouse may desire to make
banking arrangements elsewhere,
declare the compa1ly's receipts will
command favorable, rates and be eli
gible5 in the highest degree as col
lateral in reserve. cities and with
both member and non-rnember banks
of the reserve system.
p A low storage fee can be offered,
tits stated. because Of the AA in
Asurance ratin given z the ware
Continued son Page s, Column s..