Please tell me about the Shoddy Storage Crate.

Does it mean you can set it down and put 4 items in it and it disappears 5 minutes later but then I could place another crate down and the 4 items would still be in it???

Or after i put the items in it and it disappears, I can access it from the bookshelf at tapestry inn? Or what.

Or I can place it, put 4 items in it and then put it in inventory as 1 item and save space?

It should have come with instruction book.