The Lancaster ledger. (Lancaster, S.C.) 1852-1905, July 12, 1905, Image 1
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AMKWEfcKLY L A N C A 8 L K 11. S. 0.. J U L Y 12, 1905 It-'iAliJlM F!; '>/.2
I i ~ I ??i ^
| |\ I Al I I ^ I I unrxlonf nrn>??n>i " 1 ? - *
a uaiiK uoseo in uariington.
LARGE OIL CONCERN PUT
IN THE HANDS OF
A RECEIVER.
BANK MADE LARGE LOAN.
Difficulties of the Indepa ndent
Cotton Oil Company Were
Followed by Closing f?f
Darlington Trust
Company.
The State, 8th inst.
By .1. IL. N .rment.
Darlingtrn, July 7.?Two unexpected
occurrences startled
Durlingtoniang this morning and
this will extend to a much wider
circle when the facts are known.
The first was the announcement
that the doorsfof tho Darlington
Trust company were temporarily
closed; tho second was the state"
nent that the uifairs of the independent
Cotton Oil Company hud
been placed in the hards < f a receiver.
THE NOTICE.
The first intelligence was gained
from the following notice,
which was pasted on tho closed
dooi8 of the Darlington Trust
company:
4 Owing to tho financial trouh.
les of the Independent Cotton Oil
company, the directors deem it tc
(lie interests of the depositors and
the stockholders of the Darlivg
ton Trust company to close tbt
doors temporarily. Tho diroc
tors have examined the hooks o:
the company and assured al
stockholders that they will ho pni<
in full.
"By order of the board of di
v
rootois. E C. Lide.
"Cashier.
THE OIL COMPANY.
It will ho aeon by this nolin
that the Independent Oil com
pany was involved and the newi
of a receiver having been np
pointed for this company follow
ed soon. Your corresoonden
wanted only the most accnrati
information concerning the 8itua?
tion and what follows is official:
Going first to Mr Bright Wil
liamson, president of the Inde
pendent Cotton Oil company, an<
one ~f its largest stockholders, th
statement was secured from Pfes
ident Williamson:
mr wii.t.iamson's statement.
"Ten days ago, because of th
solicitation of my friends, 1 ac
cepted the position of presiden
of the Independence Oil company
at a special meoting. I at one
began investigations and a foi
days ago I found some inaccurac
ies which 1 had verified yester lay
I feurod these were serious enoug
to place the company in the hand
of a receiver, so called a director'
meeting by telegraph. Sevc
out of uine members wero prei
ent, Mr Nachman being in Pari
nutl Mr Israel not being able t<
attend. After bearing my repor
these gentlemen were of the unnr
imous opinion that a receive
should be appointed and today a
order from Judge Watts appoint
tin to tint position to take charg
at once."
It is impossible now to get an
definite statement regarding th
assets and liabilities of the conn
pany.
The capital stock ot tho Indi
111 |/nu y Wcl* IlOUllllI' 11y
$1,000,000 and the atoc : wold lust
week aa high na 75 per cent of
the par value. The l abilities
will approximate $500,000, so it
ia believed.
The Independent Cotton Oil
company under the management
of President It K Dargan, has
had a record and reputation seldom
equalled. Whou he. took
outage of the one mill upon which
the organization was afterwards
founded, the stock Was selling at
50 cents on the dollar. Latterly
the company has operated plants
at Charleston, Darlington, Midline,
KingstrCe, Ti mmonsville, |
Syracuse, Effingham, Wadesboro,
N. C., Cheraw, Lamar, Homer,
Lydia, Swift Creek, Mechamcsvilie,
Marion, Manning, Auburn,
Montclare, Davis Station, K. C.,
Summerton and Parksville These
21 plants are still under the direct
control of the Independent Cotton
Oil company, constituting its
i various branches.
Mr It K-Dargan is president of
the Datlingtftn Trust company,
> which was organized April 1,
I 1905, with authorized capital of
$200,000. The Independent
Cotton Oil company borrowed
$80,000, so it is correctly stated,
from the Trust company on demand
loan. These loans were
I called for yesterday and could not
t he mot, but it is authoritatively
stated that depositors unjl Rtock.
holders of tho Trust company
i will be puid at once.
I Charleston Financiers Hit In Oil
Failure.
s
Charleston, July 8.?("Special.)
f Judge BrawLy today on petition
j of crediors inCharleston appointed
j I Bright Williamson, R. Bte Lebby
and Ct. H. Sass receivers for the
Independent cotton Oil company,
of Darlington. Charleston has
been hit heaviiy. Not enly is a
bank here holding a great deal of
paper lar g? ly nneeured, but in
5 dividuals have blocks of stock.
The liabilities are estimated at
1 1760,000 and it is said tho assets
are chiefly the mills nod some
seed and hulls,
t
0 Price denies That He got advance
' Figuies.
New York, July 8. ? The Associated
Press has received the following
letter from Theodore II
0 Price.
"My attention has just been
called to a hullotin of the Aswciatod
Press to the effect thnt u
e Mr. Holmes, who has been dis!
missed from tho department ol
t Agriculture, communicated adf
vance information to Now York
e brokers i ncluding myself. Perv
mit me to say that such slutemenj
- is absolutely false and with^fl
. foundation. 'So far as I know, nc
h charge has ever beon made against
Is me to tho department nor hat
s t'ie department made made any
n inquiry of or concerning mo with
i- regard to the matter. The report
is is false and libelous and 1 shall he
t) obliged to treat its publication a*
t such and seek legal redress
i- against all who give further pubir
licatioD to the statement,
n 44Theodoro II. Price.
e CASTOR IA
y For Infants and Children.
? The Kind You Have Always Bougnf
Bears the . SZSTZ5T
Signature of
5
'
CferK Holmes Dismissed. L(
Guilty of Causing Leak in Cotton
Reports.? Made $73,000 in
One Deal.
Washington, July 8. ? Secretary
of Agriculture Wilson this
morning formally dismissed Edwin
F Holmes assistant statistician,
from the government service
on the ground that he had furnish ^
ed advanco information of the *)r
government cotton reports to ^
.speculators and that, he mnnipu'ated
figures of the reports for
speculative purposes. The report C(
of the investigation t>v the secrot ^
service shows that Holmes, on at 11
least one occusion, received $78,- >
000 from u firm of brokers, pre?
M'jinahly for this advance infor e>
uintion, although the transaction
was disguised as boiug in pay- n<
merit for tho salo of western nun- ^
lc
ing f-tock, 'which it is mid was
practically worthless.
Secretary* Wilson conimunica- ^
ted yesterday with the Urdted ttl
' H
States district attorney for the I
District of Cqluuihia for tho)c*
A]
purpose of ascertaining whether!
or not Holmes could be prose- ^
cutod, but he learned there was ^
II
no statute covering his case.
In addition to discharging ,r
Holmes as a result of tho invea- ^
tigation of the charges preferred *
by Richard Cheatham, of the '
Southern Cotton Growers' assoc'uitioii,
Secrotary Wilson today *
promulgated the order which will
surround the collection and oomh
pletion of government statistics
! regarding speculative crops with ^
additional safeguards as to secure
accuracy and will prevent advance e
information reaching tho public. ^
The buroau of statistics will bo
thoroughly reorganized and reports
from field ageuts will re- ^
main sealed until tho day the 91
official report is made. In this a
connection Secrotary Wilson ^
makes tho following announce- 1
orient: "There never will lie at ^
any time in possession of tho
bureau of Statistics or of any
office of tho department except
while the compilation of tho officiul
report is being made, from ^
tho completo information received
f nni' imor.on/l n?? fn /? " 1 1 ^
IIUIII v?mvf|/wiiiinjlB HI Ull I 110
cotton Statos Texas and Gcor- 1
jrin, two of the largest cotton 11
producing states, will be separ- '
atod from ti e group of reports *
from townships and counties.
Hereafter, there will bo three *
general special field agent* instead
of one assigned to the work (if *
' 4
collecting statistics for cotton
. reports Those agonls will have *
no communication with each other ^
and will report on different groups
Of 81(1108.''
%
Secretary Wilson said that v
I Prolines was tho only department c
' employe implicated. S
, two bo rn.Es cured hi m ]
' "L was troubled with kidney s
! complaint for about two years,"
. writes A. H. Davis, of Alt. Btcrl
ing, la., "but two Dottles of '
5 Foley's Kidney Cure effected a
1 permanent core." Sold by Fun- t
dorburk Pharmacy.
It is a good time to prepare for
second crops of Irish potatoes c
Second crops often strike it right
and yield good returns There is '
an element of chanco hut it is well 1
worth taking. Tiy it this year.? 1
Yorkville Knquircr.
Foley's Money end Tar 1
f'ic children.soft .sure. No opiate*, 1
saders Of Mutineers Kill=
ed Ten Officers.
jumaniu Transfers tho Kniaz.
P temk n To Admiral
Krueger. ? L u r g o
Supply Ammunition.
Kutenji, Routnaniu, July 9?
dmiral Krucger this afternoon
larded and took possession ofthe
nssian battloship Kniaz Potonin,
King Charlos of Roumania
iving sent instruction to thn
immander of tho Russian auloritios
without raising difficulBS.
l'lio torpedo boat which accomsmied
the Kniaz pDtemkin, how*
rer, left for Odessa without surmdcring,
declaring that she had
[)1 mutinied but that tho Kniaz
otomkin had forced her to fol>w.
Admiral Krueger arrived with
is snuadron thi? mnrnimr nn.l
. ? H ""v*
fter exchanging the customary
ilutes, intimated that he had
nne to arrange for the transfer
f the Koiaz Potoiukin. Admiral
Loshnaky, commander of the
loumanian squadron, t>oarded the
hisslan battleship Tchesme and
iforme l Admiral Kruegcr that
Ling Charles had ordered him to
un the vessel over to the Rusian
admiral. The formalities of
tie transfer wore completed this
ftomoon, and Admiral Krougor
oarded the Ivniez Potemkin.
The Associate d Press represen
itivo inspected the Kuiaz Potom
in after the withdrawal of the
loumunian guard. Despite the
Hurts of the Roumanians to
ct things in ship shape, evoryung
on hoard the battleship was
Lill in a state of wildest disorer.
The oflicers cabins were
tripped of everything of value
nd blood stuins were every
rhero. There was sufficient arainnitiou
aboard tho Kniaz Potemin
to havo enabled the mutineers
) maka u desperate resistance.
It is said that during the last
ew days the vessel was navigated
y two engineers and an officer
dth revolvers at their headsAll
of the sailors wished to surender
with tho exception of
rlatuschonko, tho loader of the
lllllinv \?hn r#>uiuta<l
| ? MV ? vut??VV? IUI OV/IltO
ime and wanted to blow up the
hip.
Seven oltieera were prisoner!
board the Kniaz Potemkin.
.'hey were in a pitiable condition
rora ill treatment. They declare
hat Matuschenko himself killod
en officers of the battleship.
1RONCHIT/S FOR TWENTY
YEARS.
Mrs. Minerva Smith, of Dandlle,
111., writes: liI had bionihitis
for twenty years and never
jot relief until 1 used Foley's
Ioney and Tar which is a sure
:uro'' Sold b y Fundorburk.
Pharmacy. Also C O Floyd, Kerihaw.
Cigarettes do not effect the
>rain?for obvious reasons.
Hut few men are able to hear
U A inU?OV\AMA J A?ll /V ^ '! ?* ?
uo nuijjj/ciou unn ui wwij.
Tho charitable man is kind to
he weak, and tho wine man is
sourtooua to tho strong.
Never censure people because
,hoy happen to be rich. l'hey
nay be just ax roapeCtablo as you
ire.
It is a criminal offense to stuff
l ballot box, but there is no law
nohibiting the stuffing of a contribution
box.
News of the State.
(Specials to The State.j
.lonesville Depot Horned.
Union, ?July 1).?Firo this morning:
at 3 30 destrnyod foe new
dopol built at JwjiesviHe by the
Southern railroad about three
yoarsago. The loss will approximate
$5,000. There was ijuito a
lot of freight in the depot at tho
time, having been put in there
just tho afternoon before.
The now brick sloro of Williams
Brothers was damaged by
the lire but without injury to the
coutenis. This firo is supposed to
have been started by rats
Man's Skull Is Crushed, Son
Charged With Crime.
Spartanburg, .Inly s.? Aaron
IVIu 11 lies Ht tho hopital with his
forohcad crushed in. lie in in a
precarious condition and his physicians
entertain little hope of his
recovery. Ilis son, young Adolphus
Mull is accused of inflicting
the terrible injury and has been
committed to jail to await trial.
It seems that Mull came to
town on Thursday and sold sum
cotton. Iio then loaded up on
mean whiskey and went home
bent on a row. lie soon got in
to one with his whole family. In
the meloo, would appear, ho was
brained with an axe. Circumstances
point to tho son us the
wieldcr of the instrument. He
however, as well as tho entire
family, protest that tho old man
was not struck with any thing,
but that in his drunken stupor,
ho fell against the side of tht
house, thus inflicting tho injury,
On tho olhor hand his ::tlending
physicians declare that so -everc
u hurt could not have been brought
about except by a blow from i
blunt instrument.
Negroo's Hold Broken By Rail
road Engl ne.
Aiken, July 8.?Luke Gray,
colored, while sitting on ths railroad
track about one mile west of
Montmoronci last night about
o'clock, was struck in the head by
engine No. 1. 556 going from
Charleston to Augusta His
scalp was nearly loin off and a
piece of his hat was driven ink
his head, which was fractured
from his forehead clear back k
his neck. Dr. S. G. Croft was
called to attend him. When In
found Gray consciou , and whili
i. ? ...... AVo.n;?;r,~ n.r,
UU vvna UAiuiiiuni^ 11IU ?>wuu?
the negro talked to him fr< ely ?1
though he must have been in grea
pain. He will dio.
GREATLY IN DEMAND
Not'ing is more in demand thai
a medicine which meets modor
requirements for a blood an<
system cleanser, such us l)r
King's New Life Pills. They ur
just what you need to cure atom
acli and liver troubles. Try them
At Crawford Bros', J F Mncke
& Co'a and Fnndorbnik Pharmacy
i drug store, 25e, guaranteed
Some girls grow no and beeotii
happy wives and mothers, an
some others become lady novel
1 ists.
Before asking a favor of a ma
a wise woman gives him a goo
1 dinner?with a littlo llattory o
the uide.
' oastorja.
Bear, the ^ ^
Pretty women probabl
wouldn't murry homely men i
' they wore not usked.
"Ian Drops ))ea<! After a
Dispute.
W J Rollins Falls Over Dead
After up Argumont With
1W agist rate L 11 Peebles,
Who, it is Said Used
Strong L,;ng uage.
j Special to i ho State.
Luckuovr, July 5. ? Mr W J
Rollings died instantly today
about li o'clock, dcuth resulting
from heart failure. It teems the
i ciui.if wns from a dispute between
lie and 1; II Peebles, magistrate,
this morning while working on a
ditch in the street. Some of the
citizens agree*! to clean the ditch
: at::', Rwliings vu^ overseeing tbu
! work. l*oobto decided h would
Ih,!,. ,,.i ? ' ?
; m. , | OVIUi H iltlV (IIIU W O 1 W *
eel with the rest of thu crowd.
Sumo time, about an hour before
they quit, Peebles umbo a sOiggos.
' lion as to how hr thought the
ditch should bo dug and asked
Rollings to hum! lum :i- shovel
which he did, Peebles ehowing
Pollings ui: i.b i- of how tho ditch
shouid bi do ; Red .nrjs ' aid lie
would not h' vi it that way and
ttmt t should, >o ; ui -Vd :s atart;
ed. viVv' es gt i oh -tided ug Rollins
foi the manner in which he
spoke, and loft \v "hout further
words.
About If o'clock Rollins Btart|
eb. o: a bucket of w.'.tci at a well
j which he audi ail used uui of and
[ a as obliged to puss Peebles house.
Peebles was on his porch and
Rollins stopped and told him ho
1 ^
ha cuUie to tell him about the
ditch and commenced t<? explain
r himself in the way bo spoke to
Peebles. Peebles being mad already,
ordered hint t get awuy
from his place. l< >!lins was
| standing on the idewalk, talking
! to Peebles. I ken liollins wont
ou to the well talking back to
Peebles but did, not curse, while
Peobles used si rung language to
bin:. When at the wci! biut a few
' minutes Rollins fjii and died in
etantly.
Rollins loaves a wife and many
friends to survive him.
1 Elihil Root Accepts John Hay's
1 Portfolio.
Oyster Bay, July 7. ? Official
' announcement was made today
that hlibu Koot Las Ween appoint^ *
' eel secretary of state. Tho fol
losing statement was given out
by Secretary Loco;
"Eliliu K u?t has accented the
tender 1. y tho Proulcut of
the secretaryship ..f otatc. Ho
will take the oath of ottico in a
couple of ?vO'aks, but it will nee
ossarily bo son o little t rue tien
j tore ho cloaci up his b isinoes af
. fait'-, lio w ili not go t > Washinge
ington pt:ruitiiunt!y until some
~ time in September.
y mo r a i.sf. ci-a:.vm
1 'I ho proprietors o 1 holey'a
I 11 ncy and 'Ik.: do n< ' mivertivy
e iui-> as i * - .. .jut v .v i .ir- 'i
;J ti -u. i "h*\ !o rotdui: it \vtn*V
cure this :fio 11 <'triplflinf in ail-.,
vnucod c. <c8, Out <'.? positively
IIs>ert tint ii >vill ? .it in {he earn
lier starts and never f?u i-s to fcive '
ti comfort ami re le in the worst * .
D cases. Foley 'a I foney and Tar is
with nt doubt the ? rontcut throat
m ; rtnjr k me.lv. Keiuso substitutes.
Sohl r>y I*'umierburk
| I'tianniicy.
y ! IVople who .w in the some
f si^.i;."o dor/' alway move m the
>Hiiiv) circle