Historical Newspapers of South Carolina

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4 WILLIAM This is the second in a series < of the men for whom the Bail was of Mercer Silas Bailey, fo the Company. (Biographical sketch ronmrl,,, Leaders of The South") William James Bailey of C man of intellect and ability who common sense and plain dealing His keen insight into the future caused many to believe he was clairvoyant, especially in financial matters. He was an excellent judge of character and was able to select and attract men of high calibre to him. A born leader and tireless worker, he was instrumental in the development of the banking and textile business of Clinton Mr. Bailey was the third son born to Mercer Silas Bailey and Rosanna Lydia Bailey. Members of the immediate family called him Willie, but he was generally known among his friends as Will Bailey. He was born September 12, 1865, in what was then a hamlet in the Piedmont section of South Carolina. The town had been formed only 12 years before and had suffered much poverty because of the War Between the States. There were only a hall dozen substantial residences, one brick store and a few places generously referred to as stores. Will Bailey was 12 years old when the last Federal troops were removed from South Carolina. There were no public schools there at the time, but when Will was seven his pastor, the Rev. W. P. Jacobs, his father, and other publicspirited citizens formed the Clinton High School Association. Nichols J. Holmes and his sister were the first teachers and soon develoned a sue cessful school. Mr. Bailey received seven years' training under them and Mr. Holmes' successors, Stobo J. Simpson and William States Lee. Mr. Bailey's first job was as a clerk in his father's store. His two older brothers, Joe 1 JAMES icl La : i l < >f four biographical sketches ey Plant is named. The first under and first president of 1 ed by permission ''Textile I linton, South Carolina, was a ? recognized the importance of , : i and Putsy, were included in the business whirh nnpratpH .? j under the name of M. S. ] Bailey & Sons. His most ex- ' citing duty was driving a j wagon to Newberry where he purchased wholesale the merchandise offered by his father. ' Seeking wider experience young William left the store j to work as a clerk in the company store at Pelzer, South Carolina. The Pelzer Mill had been ^ built by Captain Ellison D. Smyth with the aid of F. J. . Pelzer and others, and both , the mill and store were then \ operated by Captain Smyth. < Another clerk in the store who worked at Mr. Bailey's j side was John T. Woodside, j who later developed a sue- , cessful textile enterprise in ( Greenville, South Carolina. | These two remarkable young j men not only learned about j the profitable management of , a company store, but also ? mastered almost all that was , then known about operating | a cotton factory. ] Mr. Bailey engaged in the buying and selling of cotton i for a while after returning to i Clinton, then joined his father i in the establishment of the first bank in Laurens County. < Mercer Silas Bailey formed Bailey's Bank of Clinton, on February 1, 1886 with a capital _ r <t?nn om a r\ i ' * 01 $?u,4ui.<?u ann necame its first president. Will Railey, although only 21 years old, was named cashier. He was ( taken in as a partner in 1901 when the bank's name was i changed to M. S. Railey & i Son, Rankers. The accomplishment of the I Raileys in this bank may be ' better appreciated when one remembers the disastrous ef [ HE CLOTHM AKEF BAILEY feet the war had upon South Carolina. Before the war and the tragic reconstruction period that followed, the state was third in the nation in per capita wealth. In 1886 when the Baileys' bank was established it was 45th. At that time the South had only one bank for every 58.000 persons whereas other areas of the nation had one bank for every 16,000 persons. There was a double price system: a cash price and a credit price. Most people had to buy at the higher credit price: many were paying $10 a oarrei ior Hour instead of the cash price of $6. Mr. Bailey's bank enabled them to save by borrowing money from him at only one per cent a month to pay cash for their store purchases. In 1895 Mr. Bailey and his Father furnished the leadership and the whole town of Clinton invested most of its accumulated capital, $50,000, to start the Clinton Cotton Mills. Residents realized that Clinton must have industry if it were to grow. They looked to the Baileys for leadership that would make it prosper. Will Bailey was named treasurer of the new enterprise and held this position until 1921 when he became vicepresident. He succeeded to the presidency when his father died in 1926. In 1936 after the d^ath of his youngest brother, Cassius VI. Bailey, Mr. Bailey became president of L y d i a Cotton Mills. He served in this dual eapacity until his death in 1948. Under the Baileys' leadership the Clinton-Lvdia Mills *rew steadily to become one }f the leading textile producers in South Carolina. Mr. Bailey was a man of /ision, courage, and patience. Be kept himself informed of Tiany subjects, and he was lble to achieve success in several fields. Nor can his con:ributions to Clinton and 5outh Carolina be measured jnly in terms of businesses he nanappd or rnntrnlloH T4io judicious extension of credit nade it possible for other industries and business to prosber and help the community I r o w. His astuteness was "ecognized by the state in 19311 kvhen he was called upon to ;erve on the banking board vhich had to determine when banks could reopen after President Franklin D. Roosevelt had ordered them closed. He was considered one of the most brilliant bankers South Carolina has produced and he was awarded a degree. Doctor of Banking, by Ogletorpe University in Atlanta. Various religious, educational, and other organizations also relied on Mr. Bailey's iudgement. For more than 20 years he served as treasurer of First Presbyterian Church in Clinton, and for almost that many years he was on the church committee. He was a member of the board of trustees of both the Thornwell Orphanage and Presbyterian College in Clinton for approximately two dc t , . B "WHO'S * Tu WHOSE* f Births Lydia Spinning? Charles Mize ^ Daughter, October 27 H Clinton Spinning? H Richard L. Clark Daiifrhtfr lMnvomhor 99 Clinton Carding? William R. Roach Daughter, November 22 Clinton Weaving? Joe C. McCall g? Son, November 24 ca H< Clinton Carding? g Ray Gossett Son, November 30 w< I \ s \ I * i i %\!.'/ i i H I f Hi $ i |ri J grC Ks ?J Th Dc Ba cades, and he served as chair man of the latter board's finance committee. For these and other achievements, the Lions Club selected him First Citizen of Clinton in 1947 It is difficult to summarize and assess the many facets of a man like William James Bailey. His intelligence, vision, integrity. and dilligence must K all be considered. Perhaps above all he believed in the K Gospel of Work and encouraged all with whom he associated to work hard. God granted Mr. Bailey many talents, and he applied them vigorously to the benefit of all. of DECEMBER, 1965 ira Elizabeth Sellers ecomes Bride of mmie E. Heaton In services Saturday, Ocber 16. at 4:30 P.M. at the me of Mr. and Mrs. G. V. 'llers, Sara E. Sellers heme the bride of Jimmie E. ?aton, son of Mrs. Katherine Heaton of Elizabeth Street. Rev. Roy Russ heard their adding vows. The couple honeymooned in fnnessee and North Carola. Jimmie and Sara are prestly residing at 309 Elizath St root ngagement Announcetl Afll LINDA DORIS HARRIS VIr. and Mrs. James B. Harof Laurens announce the gagement of their daughter, iaa uavis, 10 uiauae Jeneri Chaney, son of Luther S. laney of Clinton, and Mrs. Die Chaney of Laurens. Miss Harris attends Laurens gh School. Mr. Chaney, a aduate of Laurens High hool, will be a December aduate of Clemson Univery, where he is a member of ippa Sigma Nu fraternity, le wedding is planned for !cember 26 at the Second ptist Church. This four-month-old young man Raymond J. Carrol, grandson Mr. and Mrs. J. W. Satlerwhite.