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E.H. AULL, EDITOR. Entered at the Postoffice at New berry, S. C., as second class matter. TUESDAY, OCTOBER 3, 1905 Cotton Wls And Speculation. This business of cotton mills losinj money in cotton futures is a seriou -thing. Surely it is not a commol practice. We hear of it only when bii 3osses occur and mill properties ar( pushed close to bankruptcy by it Why should a cotton mill speculatt in cotton? The function of a factor: is to manufacture, to own real estate build a mill, equip it with machinery employ help, buy cotton and mak it inco cloth or yarn. If a company of people wish t< speculate there is no use building : factory. They might just put thei anoney together and speculate and d< nothing else. Then everybody wh( subscribed in the concern would knov the risk he was running and, if th venture resulted in loss. nobod: -would be surprised. But a cot-on mil -has no business speculating in cot ton futures. The directors or official who authorize it are taking an unwar ranted and dangerous liberty witl what are virtually trust funds and ar doing something which involves great risk not only of losing mone% invesed but of impairing confidenc( in the entire cotton manufacturing in dustry. Of course, it is entirely legitimat( and proper for a cotton mill to bu3 futures to the extent of "hedging' that is, to insure themselves agains a rise in the price of cotton whilt they are executing an order whic1 yields a profit based on the price o cotton at ,the time it is taken, but be yond this the realm of speculaxior s entered and this ought to be for bidden ground to safe manufacturing polic. j' Cotton manufacturing should be and is, a safe conservative industr: and should not be mixed with specu -'lation. Dealing in cotton futures is "hazardous game, sometimes immense ~'ly successful, and profitable and a Soth,er times the .cause of disaster bankruptcy, dishonor, insanity an< siucide. No such element should b, mixed with the chief manufacturing industry of the south.-Spartanburi Jouirnal. And yet we have-heard it said that ; ~'mill president in this state made thi statement that he had never made an: mnoney manufacturing,- that he ha< made money for the mill specula ting, but at last 'he came near ban-k rupting the property. The director and stockholders, if they knew it, sai< nothing about it so long as he hei the market on the right side, an< salvred in the profits he made in thi: way. But when he lost he was kicke< out -of his job and was no longer good financier or business man. Th< trouble withi this matter is public sen timent is all out of joint on this ques tion. It-ir-hel-d by some that it .is le gaily right to speculate in futures an< very few people see any moral wrong when the speculator wins. The Journal is right, however, the mill authorities are going to try to make money speculating we ha< just as well not build mills but or ganize for the purpose of speculating 'But a man in such a position, or any other where he handles trust money should not speculate even with hij own money for the temptation is al ways too great. They should try t< make money manufacturing. The Spirit That Builds. Several cities in the state made ef forts to secure the Presbyterian col. lege of South Carolina now locate< at Clinton when it was understoo< that the colilege would likely b< moved. Chester and Bennettsville an< Sumter and Yorkville were amon1 those bidding for the institution. I1 was decided, however, not to move th< coHlege. The spirit That moved these othei cities to bid for the location of this -institution in their midst is what we diesire to direct attention to at this time. The Sumter Herald speaking of the effort made 'by Sumter says: "That intangible thing which w< ire paeased to call 'the Sumter spirit was very much in evidence last night. Think of thirty-eight men-among citizens-going to the expense and discomfort of a journey to Columbia on an uncertainty, to exert their best efforts for the good of the city. If - all the effort exerted results in failure, so far 'as the ultimate object is con - cerned, it can but be of lasting bene fit in showing -to outsiders the strong and deep-seated belief that we have in our city and its advantages and pos sibilities. Such .action cannot and will not go for naught." Prof. S. H. Edmunds writing of the r way in which the citizens of Sumter went about the business says: 'I do not re--ret it (the failure t> 3ecure the college) as far as Sumter i3 r concerned; for the spirit of concord and unanimity manifested in this fight has been beautiful and if directed a where the citizens of Suumter~ may control there need never be any ap > prehensions of failure. Such united t action as Sumter has shown herself r capable of predicts, I believe, a glori > ous future for our city." > We refer to this simply to commend this spirit for it is the spirit that builds and without it there can be no r building up or advancement in any I community. . United action for the general good, community to secure something for the good of that community must r. sult in benefit to the community and !o the individuals of the community whether the object sought is accom plished or not. United Action for the general good, - that is the thing we need in New iberry if we want to see ,Newberry keep pace with the progress of other communities. Organize. The indifference shown by the farmers throughout the county o wards the purposes of. the Cotton - Growers association as- evidenced by the small attendance .on yesterday's meeting and the meagre reports from the different 'cownships is to be deeply regretted. President Hunter felt 'keenly this apathy when he in his re r marks sai<L if we are going to make the organization a success so as to be of the greatest benefit to -the farmers we must get of'ganized and that with Sout delay. We join Mr. Hunter in urging our farmers to organize .fully : over the county-then will the cot .on producer be in a position to de mand a remunerative price for his cotton. Organize. A resoilution was adopted in the national convention o.f the Odd Fel lows in Philadelphia on Wednesday that no one can be a member of the -order who is engaged in the liquor business. That being true we presume the representative at this session from the noble order in South Carolina, t H on. Cole L. Blease, of Newberry, I willl 'have to withdraw his member ship. As a citizen of South Carolina Mr. Blease is not only engaged in the liquor business but is one of the ablest and most ardent~ supporters and .defenders of the dispensary system inl t:his state.-Anderson 'Intelligencer. -If it be construed that way what I wil become of all the Knights of Py thias in this state. Our last grand chancellor held a beer dispenser or a F whiskey dispenser ineligible to mem r bership but we could not see w.here he I was any more a dealer than the gov ernor or the state comissioher or any citizen. The death of Ex-Governor O'Fer rell, of Virgini-a, recalls a very pleas -ant reception which he gave to the South Carolina Press association on one of its trips some ten years ago when he was governor. The Press party was spending a day or two in Richmond and he invited them to the governor's mansion and gave a most delightful reception, which the edi tors and their wives greatly enjoyed. The Herald and News would di rect the attention of the board of h ealth to the alley in rear of the fur niture store of Shelley and Summer. Those who occupy stores along there say the odors from chis alley are al most unbearable. It is a pity that we can not come to some arrangement by which we can have sewerage in the ~business part of the city. John Temple Graves, the editor and lecturer, has announced his candidacy for the U. S. senate from Georgia to succeed Hon. A. 0. Bacon whose term exie mnl 197 Hei one of the best NEt All of the Latest an Our Drest mings sh tion; We patronag berry, Ci be convinced thi .e & G. platform speakers in this country and The Herald and News would be glad to see the Empire state send Graves .to the senate where he would have opportunity to use his great powers for the benefit of his state. Georgia has had some able men in the national congress and with Graves in the sen ate she would have one the equal of Gordon and Toomibs and Ben Hill and Alex. Stevens. A railroad is being surveyed from Salluda to Grenwood. That railroad should come to Newberry. The Her ald and News has been after the busi ness men of this city for several years urging upon them the import-ance of doing something towards building a road to Saluda. They seem to 'be not interested. It will be too late after the road is built to some other city and we are left on a brancoh road. Now is the time to act. AN ORDINANCE. As to Locomotives. BE IT ORDAINED by the Mayor anid the Aldermen of the Town of Newberry in council assembled and by authority of the same: Section 1. From and after the pub lication of this ordinance it shall be unlawful to run an engine on any rail road within the Town of Newberry faster than six miles an hour, or to blow the whistle tWereof in the said Town. -Section 2. For every violation of this ordinance the offender shall be liable tro a fine of not more than fifty dollars or imprisonment for not more than twenty days. IDone and ratified under the corpor ate seal of the said Town, the second day of October, 1905. Geo. B. Cromer, Attest: Mayor. Thos. 0. Stewart, C. and T. T. N. C. AN ORDINANCE. To prohibit the Sale ani L awu Use of Spirituous Liquors. BE IT ORDA;INE-D by tche Mayor and the Aldermen of the Town of Newberry in Council assembled and by authority of the same:I Section 1. From and after the putb lication of this ordinance it shall be ulawful for any person, firm or cor oration to sell or barter any spirit ous, vinous or malt liquors, or store eep transport contraband liquors, in the Town of Newberry. Section 2. Any person, firm or cor oration violating this ordinance shall, for each offense, be liable to a fine f no~t les than ten dollars nor more than one hunderd dollars, or impris' oment for .not less than ten days no? ore than thirty days. Done and ratified under the corpor ate seal of The said Town, the second day of Octolber. 1905. Geo. B. Cromer, Attest: Mayor. Thos (j. Setwart, C. and T. T. C. N. WALL 013 Latest Weaves: d Stylish Dress ( s Material and )w rare taste of appreciate the I a of the ladies of :y and County. it we are Right on Quality a S. MOWE Statement of the Coudi The Commercial Bank of I At the Close of Business, Septeml: RESOURCES. Rntes discounted. .. . .. $299,790.71 Capital st< urniture and fixtures . . . 3,051.93 Profits (Le Due from Banks. ..... 93,741.96 Dividends yrdrafts. .....-.-..-.2,887.68 Rediscouni Cash and cash items . . . . 29,212.81 Individual $428,685.09 Capital $50,000.00 - - - - Does a General Banking Busine. Pays 4 per cent. on St ___ We Solicit Your Ac *TENTH CAR 01 Choice Tenness ARRIVEE Although market advanced Best Patent, Cotton, - Best Half Patent, Cotton, EVERY.BARREL GUAI While we are doing the Flo are also leading in Dry Goode ing, Millinery, &c., &c. W.e goods, carefully selected in Baltimore, and want everybo see for themselves and be co are headquarters and the pro allkinds goods at Very botto pay $40.00 for Sewing Machiu drop head $l7.93, guarantee high tone, 12 stop Organ $50.( Choice Western Seed Oats, Thousands of bargains in 01 Almost impossible to mention -MOSELEX ORGANIZED The National of Newberry, E A. A. Carlisle, E. A. Carlisle. President. Cashier. State,'CoutIty and City Dep apital stock Burplus.aId undivided profits -- jabilities of Stockholders - - )eposits September 27, 1905 )eposits August 25, 1905 - Oldest, largest and strongest!Bank in Ne' 4 per cent. allov%ed on Deposits in cur S ...,de semi-annually. We solicit your bust ODS in the xoods Trim selec iberal New= Call and nd Prices 'R CO. tion of gewberry S. C. er 30, 1905. LIMTES. k.. . . . .... $50,000.00 is xpenses Paid) 34398.64 unpaid. . ..... 686.00 S. .......15,000.00 deposits.. ....328,600.45 $428,685.09 Surplus $30,000.00 vings Deposits. count. THAT Ce Flour 25c per barrel. - - $5.15 - - 4.35. ANTEED. ur business, we ;, Notions, Cloth are brim full of New York and dy to come and nvinc7ed that we per place to buy m prices. Why e? We sell good d; good Walnut )o. sacked 55 cents. Ar immense line. them all. BROS. 871. Bank . C. F. N. Martin, Ass't Cashier. ository. - - $r50,000 - - 45,000' - - 150,000 $345,000 - $351,443.60 .$231,856.16 berry Cotinty.