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% I i " ! COTTON MILL FAILURES' ^itecalnlion in cotton or Cloth Always (be Cau?e-NoP?,uten?" labuol Make Oo?|d th* ??8He* tile .Market*?Tbe 3f aniitHCtu* Cotton the Safest and Best lnda trial Enterprise. The News and Courier hu a wcn-con11^?' ed article on the causet. of 0011011 ?# failures, the only objection to which ? ^ erroneous deductions from an errone assumption of facts. inexperience not the caw? of >aii?^b The News and Courier's Idea that enoe of the presidents and treasurers qJ manufacture of cotton goods .is t&e ca falinres in the business 18 as fftr fr0Dn as the east Is from the west reduced to a science. 1 be manuliacture of cotton goods has beCD reduced to a science, and there Las never yel occurred one failure because of a lack 01 ??w,ed?eto ?Plnd and toweave. Perhaps, nine processes through ? , the'?w cotton goes before It 1? the Dished cloth. The thoroughness with wbloh the business Is understood may be o erred from the fact that the exact cost c/ ??ch process la known and noted by every Mill. Ths president and treasurer may not know the machines or th? methods of their operations. it l? not his especial business to know these things, but he can Judge of the report* LEOITIMATB H17COES8. The moceaa or tbe lallure of a coition mil' In Its- legitimate business rests wltb tbe president. It.la Jn vain that tbe superintendent may assume op that be may be expeoteo to make good tbe mistakes and tbe blunders of tbe president and treasurer. Tbe dally and weekly reports oi tbe progress lu tbe different processes are olear ant specific. If tbe. superintendent Is wasting tne-money of tbe oompany tbe lact must be known in tbe office every nlgbt. Tbe cbeckt> and balances are suob that tbere can be no concealments. *n vtm rf-TR T."? SUCCESS. There are no near cult to the manufacture of cotton goodi. The actual cost of converting the raw ootton into cloth la as fixed at anything can be. There la little or no fluctuation in the coat of lahor In the manufacture of cloth. While In different mllis, with different machinery, there may be a slight difference In the oost and the sample of goods, $ei the difference oaunot be so great as to bring either notable success or dlsastrout results. We have no knowledge of any superintendent who has ever mined a mill. whibl thx kill 18 made ob buinxd. The president and treasurer In hla office maxea or rulna a mill. And the prooeaa 01 running a mill la not found In the manufacture of gcoda, but It la In the speculation where mistakes may ocour, aad where misfortune may come. how a kill is buinxd. The destruction of a mill Is based almoft wholly upon two causes, namely: The fluctuations In the price of cloth and the prloe of ootton. a mill orealdent is neoesaarlly more or less; speculator, and a mill president knows no more about the future price of ootton and olotb than the mau In me moon ia supposed to know. He certainly knows nothing. When prices change so quickly, .and when fortunes are made and lost In a day, the disposition to gamble Is sometimes too great to be resisted by men of sanguine temperament. GAMBLING USUALLY FATAL. It Is the gambling or the speculation in raw ootton or the manufactured cloth that bring* disastrous results. If a mill buys large quantities of ootton and the price goes down the result is Inevitable. If the mill holds its cloth lor higher price* and borrows money, the mill is bound to sufler when the price goes down or If It even remains stationary. If the price of ootton goes up and the price of cloth does not rise the mill cannot escap* loss. According to our own notion, the mills ought not to bold their oloth for hlgherprloes, I / but should sell the goods as fast as they are manufactured. The mills should not buy more cotton than they need. COTTON MILLS TBI*. SAFEST AND BEST INDUSTRIAL ENTERPRISES. " ? in- r.ooH frnwi nnnpppfifiarv II lUtJ UA1JID BIO U?vu <iv? r {speculation the danger la not gre*l. Wltb careful or Judlolous buying of cotton and the prompt sales of cloth, tbe cotton mill buslneia la one of tbe aufeit and most stable of all manufactures. Ibere la always a demand for tbe manufactured product Tbe Immense development of tbe cotton Industry wltbln the last lew years may have to some extent disturbed values, but for all that.the oolton mill business Is the business oftbe South. BEST SEDUCTION OF ACREAGE. Any Idea that tbe Increase ol tbe spindles and tbe addition ol looms militate against the farmer, Is as baseless as tbe fabrlo of a dream. Tbe mills of this state have taken great numbers of cotton growers from the field. To that extent they have "reduced tbe aortege," and increased the conbumpilon .of oott*n. AT THE DEMAND OF NORTHERN INVESTORS. The News and Courier Is In error In supporting that the combination of president aad treasurer In one person is peculiarly a Southern Idea. The combination of the two offices wan at the demand or request ol Northern Investors in Southern cotton mill slock. ' NO CONFLICT or INTEREST. lu oonln In prrnr In supposl ng thai It 1b a mistake for one man to be president ol more tban one mill. The tendency Is to put more mills Into tbe bands of a safe and sDccesslQ4 man. Fidelity to eacb lb not affected by ibe number ol tbe mills that tbe president and treasurerer may control. WHEBE OBJECTION 0BIU1NATE3. Tbe lact is, tbe great obstacle to tbe placing of many mills nnder one management, Uos In me fact tbat eacb mill now bas a president and treabuier, wb&ae salary Is as a rule, much blgber tban tbe same man ooula realize In any otber business, and, like sensible men, they wan. to bold on to a good tblng. Tbe different presidents and treasurers aud tbelr friends are ol course violently opposed to tbe surrender of tbelr offices, and will prevent as far as possible tbe onange to a combined management. But tbe time is coming when a mucb greater number ol mills will be run by one man. CONSOLIDATION Of INTEREST COMING. A consolidation or Interests lscomlng when the bupeilluouB presidents and treasurers 01 * QOttOQ mills, like the many offices on the short railroads, will be merged Into one great management. I'ACTS ALL AGAINST OUK HKOT11ER. The theory of our respected contemporary, the Newti and Courier, may be all right, but the practical business tacts and the tendency of the business methods are all against him. BENEFIT OF UNDER CAPITALIZATION. We note also what our respected contemporary Bays of "under capitalization of new mlllB." Of course It Is better to have plenty of money. It 1b always more or less Inconvenient to be poor. But even If we were rlob, It Is not certain that all the stock of a mill should be owned by local people. If however the bullderB of ootton mills, bb a rule, should wait until they have all the capital they need, very few mllia would ever be built. The loll amount cannot usually be secured at home, and If It ooald be had at home It Is better to bring Id foreign capital aul it is 3MEc: !? ! We now have in i nlo+o In nnalitu it i ^IWlVi vjuunij >? lowest. We will appr buy. Be sure and We are sure oeuer to bava the advloe of tbe mora experienced mill men. If we had enough mon ey to build a mill It would be better to balld two mills, and get tbe balance from abroad. BENEFITS OF COTTON MILLS. The presence of a cotton mill la of great beneiflt to a small town, and pabllo spirited oltlzens usually subscribe to the capital itock as maoh with a view to Increasing the aln* of real estate and the volume of businesses for the Immediate prospective dividend. ! THE WAY IT IS DONB. As a role, committees subsorlbe for a small percent, of the requisite stook, and, then to make out tbe balanoe tbey Issue preferred stoolf. Any community, by taking, say, 150,000 or <75,000 In atook, can usually get a quarter or a half million dollar mill, TMH* nrtvlnnl IBB 000 or 17S.OOO was Qumlly, assessed an the properly, 11 would be tUa best possible Investment, even If the 950,000 or 975,000 should be lost. Bat It Is very seldom that much more than the Interest for a few years Is lost. Id bulldlog a mill In this community, the original stockholders generally sold their shares at a dlsoount, realised their loss, and are satisfied with the result. But we take Issue with the News and Courier when It thinks that under capitalization of new mills Is Injurious or not to be commended. Abbeville organised her mill with about 940,000 subscribed, gave a contract for a 942,000 mill house, and built the mill, Abbeville never put in quite as much as 9100,000, but we have a three-quarter million dollar mill. Machinery, men, and preferred stock sold In distant markets did the rest. The taxes alone pay this community a good dividend on what we Invested. The amount Invested in our cotton mill is hearly equal to the assessed value of all of our property at tbe time oflts building. THE BEST INVESTMENT. The best investment a small community can make is tosnbsorlbe a small per cent of the neoessary capital stock, and then bring In foreign money of investors who have faith In the ootton mill business. We are Sole Agents here for Vinol The most famous Cod Liver OH preparation known to medicine. ! Contains ALL the mediciqAl elements of cod liver oil, actually takes from fresh cod's livers, but not a drop of oil. Delicious to the taste and recognized throughout the world as the greatest STRENGTH CREATOR for old people, weak, sickly women and children, nursing mothers and after a severe sickness. Cures Hacking Coughs, Chronic Colds, Bronchitis and all Throat and Lung Troubles. Unequaled to create an appetite aod to make those who are too thin, fat, rosy and healthy. Try it on our guarantee to return your money if you are not satisfied. Speed's Drug Store. *>F. J. A. DICKSON, SURGEON DENTIST. gold fillings^ grown and bridge work a specialty. i a good plate.. $8.0? amalgam fillings 75o and. 1.00 office over barkbdale'8 store. W. D. ADDIE has open up his bus iness in J. S. Cochran old stand. Bicycle and Sundries, Picture Moulding:. Yours for business, "W.D.ADDIE. Calvert & NicHes ? Headquarters for ? iif V?UinVorv U/aornno IVUltO UiVAVlJ II MgVMH ' Owensboro Wagons, Sock Hill Buggies, Summer Buggies, Cheap Buggies, I Harness, Laprobes, etc. Calvert & Nickles. Feb. 24, 1904. U , '?- - * . _ _ . _ j.niHu.n.TM mm .nirm.mn.nnl^wr^ THE ^war-wi a full line of Fall goods s second to none, and eciate a call from you i ~~ s see our line of Shoes. we can make it to f sr. as lu W. White'* LocrIm. L. W. White bought bis oolton goods early In the Bum mar before any advance took place. He la therefore in position to sell to advantage a great many goods at wholesale. Persona having stores throughout the county; will find they can do as well to buy goods from him as te buy from Jobbers In tbe cities. Come and get bis prices. He has already sold several nice bills to parties having stores In tbe oountry. Jobbers In the oltles are now. setting So for tbe best prints. This Is L. W.Whltb's price /1a '? on/1 Inntr at thnaa (roods for sklrtiM Inches wfdeId all colors. 50ca yard. L. W. White baa special good values In tahle damasks, napkins, ooylles and towela. L. W. White has a splendid stock of blan kets and comforts. L. W. White baa a whole case of Flannellettea wblota he la selling at 8 1-3 cents. They are regular lOo goods. L, W. White still aella unbleached home span a yard wide at 6c. If you want to see a bargain look at those mercerised white goods which L. W. White sella atlt% cents a yard. Bach a stock of percals madras, ginrhsma and! outings aa L. W. Wbite Is now offering was. never Before seen in thla oomunlty. Call and look at them. L. W. White's store is the place to buy your winter anlt, over-coat, bat and shoes. The olothlng we sell cad not be surpassed. It la fameoua for durability, atyle and flt. From the immense sale of embroideries by L. W. White last spring and summer it may be inferred that everybody has learned where the best plaee is to buy embroideries. Our assortment in tbir line of goods Is ever larger tbah usual. If you wunt to see the choicest styles of smyina rugs, yon can find them at Whites. "Have used one 20 years." The Iron King. Cat glass and cblna ware for wedding presAnta At A M Smith's. Nails and barbed wire at A. M. Smiths. You can get all of tbe Dukes Mixture smoking tobacco you are looklDg for whole sale or retail at 8peed's Drug Store. For fine flavoring extracts go to Mil ford's Drugstore. He Bake* them himself. im } DRY GOODS Waisting, Skirting, Suiting Ginghams, Wool Flannel, ing, Cheviots, Plaids, Co' Table Damask, Sheeting 5c 15c yard. NOTIONS 50c Undervests for 45c. A nnttnn urns filp. H(19 TT VUViVkA TIMW vjv? ?? mills. Towels, Sheets and nators, Baby Caps and Sacc Sweaters, Jackets, Blue De Suspenders 5,10,15, 20 anc Bags, Suit Cases, Trunks, Slates. Needles, Pins, Good Nickle Alarm Cloc Watches $1.00, $1.25, $1.50, HATS and CAPS The latest shapes and shade and 25 cents. Boys' Leath CLOTHING Men's and Boys' Suits, ext Cloth and Leather Leggin Waist, Jackets and Unders SHOES For all classes, from hea Dress Shoes, "King Bee" S dry feet and long wear. TIN Gray Enamel Ware and G than ever sold. CROCKERY Good assortment Staple ( Bowls, Bowls and Pitchers, Jugs, &c. HARDWARE Shot Guns, Club Shells, 1 Tools, Hinges, Locks, Nails Pads, Hames, Traces, Pou Hods, Shovels, Well Buck* Buckets, Tubs, etc. GROCERIES Flour,'the best that the bes ders, Breakfast Stripes, 3 Macaroni, Oat Meal, best g Canned Meats, Vegetables, Tea, Chocolate, Cakes, Cra< or taste. Good Tobacco 27 Seed Barley, Rye, Oatn,"Bur] Seed, Blue Stem, Velvet C Quality, moderate priceH, fa tkm you v I GrI Ja* _ t PLACE TO B E-3E5'i . Our stock is comI our prices are the f you are not ready to hoes, We have them from your intesest to give Real Estate : for Sale. # ! i ... . Mrs.Ellis Graydon has placed her elegant residence and the house and lot adjoining in my hands for sale. This is very desirable residences property being so conveniently located i ' . " Vitiow? VimiRA and lot A XXV AfclUIUI* has been placed with me for sale at a very reasonable price. i R. S. LINK. Get our prices on corn, floor, bay, bacon I and meal at A. M. Smith's. iLEMB | I I f, Dress Goods, Calico, Outings, Jeans, Kersey, Bleaching, Ticktton Flannel, Drills, Osenberg, -GJc yard, Good Oil Cloth only ! good one for only 25c?bought iery bought at same time from Pillow Cases. Wool Knit Fasi[ues. Heavy Knit Over Shirts, nim Over-All Pants and Jackets, I 25 cents. Pocket Books, Hand < . Pencils, Ink, Paper, Pads, Buttons, Thread, Combs, Etc. :k 75c. Bronze Clock $1.50. ( $4.00, $8.00. Chains and Fobs. is in Hats and Caps. Caps 10, 15 { er Caps 25c, Men's 50c. ra Pants, Rain Coats, Overcoats, gs, Ladies Ready-Made Skirts, kirts. vy farm shoes to the finest Kid cotch Sole, Wax Calf for comfort, lalvenized Ware at lower prices ,'rockery, Stone Bakers, Mixing , Slop Jars, Flower Pots, Churns, Knives, Scissors, Razors, Farm j, Horse Shoes, Collars, Bridles, Itry Wire, Leather Tacks, Coal 3ts, Cedar Buckets, Galvenized t mills can make, Hams, Shoullackerel, White Fish, Cheese, rades Green and Roasted Coffee, US/.b-liia Snicps. SflUCGS. XTUlin, JL 1V.BIW) ^2^.- , , ;kers, Tobacco to suit any purse l-2c by the box. r Clover, Onion Sets, Wheat /liatf, Fultz antl lied May. Ir dealing and polite atten- i ill find at .ENN'8. i ? H r '?-* -.*> t: c - _?t- . ..s r/v gooda i & ' S Be sure and will take pleasure in anything in our line. Shoes $i to $5, and a co us a call. sv:: Ourlneighbor says. "Get the [ron King." 1 MliTii! E. 0. MESCHINE, of the Hermitage Farm, Lowndesville, S. C., retiring from farming, will sell on easy terms, . in Farms of 50 to 100 Acres about ooe thousand three hundred (1,300) acres, out of the 1,600 acres of the Hermitage Farm. Apply to E. C. MESCHINE, Hermitage Farm, May 3,1905. Lowndes ville, 8. C, XAAA TELEGRAPHERSNEEDED ~ Aonanliy, to fill tee new positions created by Railroad and Telegraph Companies. Wewanl Young Men and Ladles of good habits, to Learn Telegraphy and R. R. Accounting. * * ? We famlsb75perceDt. of the 0iterators and Station Agents In America. Oar six scbooli are tbe largest exclusive Telegraph Schools In the World. Established 20 veaes and endorsed by all leading Railway Offlolals. We execQte a 8250 Bond to every student to furnloh blm or her a position paying frorrt 840 'o 860 a month In States east of tne Rocky Mouutalun, or from 875 to 8100 a month In mates went ut luo nuviin, nimiciim?i; ?ruu graduation. Studenu can enter at any time. No vacation*. For full particulars regarding any ol onr School* write direct to oar executive of< ace at Cincinnati, 0. Catalogue free. The MORSE SCHOOL OF TELE6RAPHY. Cincinnati, Ohio. Buffalo, N. Y. Atlanta, Qa. LaCrnaae, Win. Tezarkana, Tex. Ban Franolico, Oal. BDILDING MATERIAL I am dow receiving a stock of DOORS, SASHES, BLINDS, FLOORING, CEILING, SIDING ind FINISHING LUMBER, also SHINGLES, LATHS, LIME, CEMENT and HAIR. Jome in and let me give you prices. A. G. FAULKNER, TRINITY ST. Opposite A. B. MORSE. THE "BOSS" COTTON PRESS! 8IMPLEST, STRONGEST, BEST i The Murray Ginning System Gini,'Feeders, Condenser*, Etc. GIBBE5 MACHINERY CO. Columbia, S. C. DO YOU NEED A Mower or Rake ? IF SO. CALL AND SEE US AT ONCE. WE ARE AGENTS KOK THE DEERING AND HAVE A FEW THAT WE WILL CLOSE OUT AT A REDUCED PRICE. Yours for business, L. T. & T. M. MILLER. "Takes less fuel"?The Iron King. Glassware at Dargan'i In abundanoe. S AT [ \ ^^m:' i - , : . ' > . v . -&M nail anrl cpp hq and orat nur nriees. W? WUI I Ul l? WV WWI Mi IWI r v ? w wi 1 . W ? - / o r showing you, and making you prices on . ?: ... ...; .. 1 I . . t'i f . I 1 molete line of all styles. I V " -I - v fEm iTH.. . v.:. ,!^^'^^ P'lmriflK'' fenl nf Ifaillfl l'UilUJflO liUillB VI fltWVUUV. I State, Copty and Cijy Depository.! President: I Vice-Prwideat: CaafaUr: fl F. E. HARBISON. *!?JW P. B. 8PEKJ). ; J. H. DuPXX. 9 ' Board ?ic Directors : F. E. Harrison, P. B, Speed, John R. I Blake, G. A. Visanska, Jobs A. Harris, R. M. Haddon, A. K. Wktaon, Lewia I W. Parker, W. P. Ureene. ...... We solicit your boslneu and. are prepared to luuidle . , . it safely aod conienatlTely. . We are Id position to make yon loans, and to pay Interest on depoalta, when plsced in Our Savings. Department* / . ' ' . The largest and most complete line of Stationery, Books and I School Suiplies I T# I Can be seenat I Milford's Prog Store. I Abbeville Lumber Uompany,| Dealers In v ?, 9 Lumber, Sash, Soon, Blinds, Shingles, Lime. I Best Portland Cement, full barrel, $2.59. yv . H Just received three cars Shingles, from thcupheapest to the very I best.' Car of Doors, Sash and Blinds just h. 'Two cars Dressed! Lumber on hand. Flooring, Ceiling and SidiRp I Get our prices and we will do the rest?: Soil YOU?] I ABBEVILLE LUMBER CO. I The same old stand, near S. A. L. Depot. H Tie Peoples Savings hi I ABBEVILLE, S. C. I officers. a ? S. G. Thomson, H. G. Anderson, 8. G. THOMSON, President. G. A. Neuffer, C. C. Gambrell, H G. A. NEUFFER, Vice-President. W. E. Owens. C. 8. Jones, H R. E. CX)Xf Cashier. . J- S. Stark, Ed. Keiser, B Jonn A. Harris. SCHOOL BOOKS I Tablets Pencils. I Ink I ' H General School Supplies. I Speed's Drug Store. I i . H L!UI"s"'e- DR. G. E. CALVERTM The home of the late a. w. coch SURGEON DENTIST., r.o, oodujoiok At sr, jiilingiworth'* offlccJB 150 Acres. Angwuw. ? . Twenty-flve(25) aorea In bottom land. Situ ated three mllea from Abbeville Court House DENTAL NOTICE. ! on Due West road. Apply to _ _ _ BMf mn. h. m. cochran, Dr. S. G. Thomson* Cllnion, H. C. OFFICE DP-STAIRS OK MoILWAIJ^^B or C. M. Cochran on premlaea. Corner, Abbeville. 8. C. July 19,1905. tt ? J. M. N1CKLES, DR. J. R. NICKLES, Attorney at Law* H Tionff.f Abbeville, 8. O. WH Surgeon Dentist. offlce wlth Wt St Qnyd0n. HM Office over C. A. Mllford's Drug Store. HO I " * -msr* -"rvyrxi*