Historical Newspapers of South Carolina

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4f CLINTON MILLS JAN.-FEB., 1976 Founded By M.i Clinto Celeb Mercer Silas Bailey of Clinton built for himself an eminently successful career in banking and textile manufacturing. M.S. Bailey and Son, Bankers and Clinton Mills are prosperous testimony to his achievement. Mr. Bailey believed that industry, frugality ana honesty are the keys to success, and he proved their efficacy in his own rise to prominence. Mr Ro.'Uu ? -* ?f?i . uaucj n a3 LUC 5UI1 (JI Silas Mercer Bailey and Margaret Beasley Bailey, both descendants of prominent colo nial families in America. He was born in Clinton, November 9, 1841, and spent his 1 boyhood on his father's farm. 1 His first job was as a clerk in a country store, for which service he received $5 a month. He resigned however, for his employer insisted upon selling 1 liquor, a practice which Mr. Bailey strongly opposed. He obtained a position as a clerk at the Laurens County Court House which paid twice as 1 much, but resigned to attend school. Since a college education was out of his reach. Mr. Bailey applied himself more diligentlv to his work in th<? public schools and read as much as possible. His ability and industry helped him obtain a position as clerk with a prominent firm in Clinton af ter his graduation from school. He stayed there three years, until 1862, when he entered the James Battalion of the Confederate Army. After completing military service, Mr. Bailey returned to farming, but soon decided that he would like to start a business of his own. His initial capital was obtained from four bales of cotton which he sold for 60 cents a pound. With the money he went to New York City and purchased goods Irom A.T. Stewart. Mr. Stewart was sufficiently impressed with this young man to offer credit, but Mr. Bailey preferred to pay cash and start without any incumbrances. His mercantile business prospered, and he expanded in 1870 to include a saw, flour and grist mill. Later he added V Published By >. Bailey n Mill; rates I a shingle factory, one of the state's first, and in time this was expanded into a sash door and blind factory, which shipped its products to all parts of South Carolina. Because of ill health brought on by his strenous life. Mr. Bailey sold his mercantile business in 1880 iu his two oilier sons and retired. With proper rest, his health improved and in a few years, he reentered the business world first as a crop-lein merchant, and in 1886 as a banker. In 1886 he started Bailey's Bank of Clinton with a capital stock of $20,201.40, which he obtained from an inventory of cotton sold in Orangeburg. His friends tried to discourage him in the endeavor because they felt the town was too small to support a bank, but Mr. Bailey perservered. and his judgement was correct. The bank (rrpw stPaHilv .inH Vine fin"" o V """ J',,vv become one of the strongest in South Carolina. It has served continously since then, and even during the financial panic of 1933, the bank did not close its doors. Mr. Bailey was the first president of the bank, and he served as its President for the ni nit: EE and For Employees of Clinton M s BOth next 40 years. His third son, William J. was named cashier, and in 1926 when his father died, he succeeded him as president. At the time, William J. was made a full partner in the bank, its name was changed to M.S. Bailey and oon, nanKers, as it has been Known since. After 10 successful years as a banker. Mr. Bailey turned to the textile manufacturing field, which was becoming established in the South. In 1896 he established the Clinton Cotton Mills with 5,000 spindles 150 looms. Mr. Bailey was named president, William J. Bailey, treasurer, and Cassius M.Bailey, his youngest son, bookkeeper and paymaster. Since the bank had begun its successful career on February 1, the birthday of Mr. Bailey's eldest daughter, Toccoa Mars Bailey, the Clinton Mills was also launched on that date. So was the Lydia Cotton Mills, instituted in 1902 and named for Mr. Bailey's wife. This mill was opened about two miles from Clinton with Mr. Bailey as presir.r,A U i e. ' uvuv ami UI3 SUa, Cassius as treasurer. It was begun with 4,000 spindles and I J ORIGINAL CLINTON MILLS I' ITHMi [Ills, Clinton, S.C. g t ' K^jIKh^ ' * ^F J TM HL WW i Hi* 150 looms, all second-hand, but this equipment was soon replaced by modern machinery as the plant prospered. Mr. Hailey seemed to draw inspiration and energy from his work. He continued active in business until his death in 1926, when he was succeeded by William J, Hailey. He went to his office regularly, and gave close attention to all phases of plant activity. He became increasingly concerned I.ANT m VOL. 24-NO. 7 SI ] IMVftttlURT M ISyS jifl-lSl' I i "tt , KMAL EDUCATION, 'M 3CILCDaBldl/ll ^ about the welfare of his employees as their number increased, and he took steps to help them help themselves. He continually encouraged them to have bank accounts, buy homes, accumulate property, and he helped them to advance in the business whenever they were qualified. Schools and churches were provided for the mill communities and various facilities to promote health and recreation were introduced. Mr. Bailey was activp in t hp cnrial on*4 religious affairs of Clinton. He participated in many civic projects. He was an elder in the First Presbyterian Church, and a member of the Masonic Fraternity. Perhaps the highest tribute that can be paid this textile pioneer is the continuance of the institutions he started. Mr. and Mrs. Bailey, the former Bosanna Lydia Abrams, reared seven chil aren, lour sons and three daughters. The boys were Joseph Abrams, Putsy Silas, William James, and Cassius Mercer, and the girls included Toccoa Mars, Emma Floride, and Mary Ellen. Three of the sons followed him in the business and the son of his daughter Mary Ellen is currently presi dent of the mills. Mercer Silas Bailey is gone, but the traditions he initiated live on.