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OLXIN1NWR.FR VOL. XLII. NO. 118 NEWBERRY. S. C., FRIDAY OCTOBER i, 1905.4WC EK 10YA T. C. DUNCAN ELECT-. ED AND RESIGN E. W.' ROBERTSON ELECTE] PRESIDENT UNION MILLS. Report of Committee Says Outstanc ing Indebtedness of Mills $691, ooo Above Value of Prop erty-New Board Elec ted. News and Courier. Union, October 4.-The adjourne meeting of the stbckholders of th Union 'Cotton mills was called to or der at io o'clock this morning b President Duncan. The report of th committee appointed yesterday to ex amine -the report of the accountant was submitted. This report estimate the present value of the mill plant t be nearly half a rgillion more than th original cost of the plant, which wa the -basis of the value placed upon th property by the experts, they taking i from the construction account on th books. According to the books, as re ported by the committee, there wa! including debts and stocks, in oul standing indebtedness in excess of th acc&ntant's valuation of property o $69o,ooo. Total indebtedness of Buffalo Cot ton mills, including $6oo,ooo in stocl two millrons and a quarter. The plan is estimated to be worth about twi and a quarter millions. This show the mills to be solvent. 'If tiecommittee's valuation was ac cepted and the property sold at -it figures the debts would 'be paid, pre ferred stock being of its full valu and common stock worth 66 2-3 cerit. provided all debts due the mill wer paid in full. The plant as iE stand today is said by this committee, afte careful examination by experts to b worth $1,ooo,ooo. The -report 6f the committee on by laws was then received and the sec tion providing .for the election of a attorney for the mill by the directpr caused much' dissatisfaction. A ballo -was taken, but before the result wa announced the conflicting interest became reconciled and the sectio: stood. Then in a -neat an<d eulogistic speedl Frances H. Cary, of Baltimore, nonm inated ;T. C. Duncan for presiden: and 'the latter was unanimously elect ed. -Immediately afterwards -Mr. Dun can submitted his resignation, ther evidently being an urnderstanding t that effect, saying he thought it wa for the best of all that he should d so. Thereupon Mr. E. W. Robertsor of -Caiumbi:a, who has been treasure of the m-ill during the past few week~ was- unanimously elected presider: and treasurer. Th;e following board of director c. rosen:-T. C. Duncan, c'hairmar 7. Ro'bertson, of Columbia; Ems ie Nicholson, Union; John A. Lav Spartanburg: H. C. Flie,tmann, Ne York: W-il'iam Winchester, Bait more; A. E. Wattles, Mass'achusett Mr. Duncan's future position in 111 mill was not -defined. The -mettin -adjourned subject to the call of tif president. There is a decided feelin of -relief over the solution of the siti atiion. The new management 'has an pie financial backing and express the belief that the situation wou soon be much improved. The meet.ing of the Buffalo Cottc mills was held this afternoon. Ti proceedings were as at the Unio namely, the eleotion of Mr. Duncan president, his resignation and ti election of E. W. Robertson as pres dentu and treasurei-. A most encouras ing report was made by the accoun ant as to the condit.ion of the mill, b all inquiries for figures are met I .a positive refusal to divulge aniyth.in Mr. Robertson says that -he is n, sufficiently acquainted with the situ tion to make any statement. and also desires the public to know that neither he .individually nor ithe bank of which he is president are creditors. He is not attemptng to work himself out of a hole but accepts the position on the earnest request of the larger credi tors. Fully two-thirds of these are co - operating in an effort to bring order out of chaos, and to save the inter ests of all parties. The new management relies upon the conservative action of those con cerned. The action taken today is but one step in the scheme of reor ganizacion. If the creditors are con e servative and patient it is the opinion of -the best informed that the situation will -be saved, and no serious damage e to any interests result from present complications. Every effort will be s put forth to keep the matter out of litigation, and it is hoped that nothing of this sort will be necessary. The suspense :f weeks is at least in a smeasure ended, and the numerous vis itors, to Union, there for these meet t ings, will soon depart. e A large majority seem well satis fied with the work done. The following direc-tors of Buffalo Cotton mills were elected: T. C. Duncan, chairman; E. W. Robertson, 1 f president and treasurer, of Columbia; i H. C. Flietmann, New Yo*; William Winchester, Baltimore; John A. Law, Spartanburg; A. S. Wattles, Massa chusetts, and T. S. Rennie, Granite t ville, S. C. s WILL LIVE IN ASHEVILLE. s Bishop A. ',oke Smifth Has Decided - to Ma& His Home There. e I Bishop A. Coke Smith, of the South Sern Methodist church, who is recov 5 ing-from6 a serious illness, has decided 1 r to make Asheville ..his permanent e home and will take 'residence at No. 4 Asten Place. Bishop Smith 1has been - in Asheville. for his health ever since - last spring, and has fond the climate i of this. section so beneficial that 'he s will reniove his residence from Nor t folk to Ashe;ille.-Asheville Gazette. se The many friends of Bishop Smith s in Ne.wberry will 'be glad to hear that i he finds the climate of Asheville bene ficial and 'hope that he may*soon1be himself again. As A Testimonial. - The police officers presented Mr. -Thomas 0. Stewart with a beau-ti e ful pair of gold cuff buttons on Tules 3 day on his retiri-ng from the office of s clerk and treasurer as a testimonial 3 of their esteem. Mr. Stewart made a 'very efficient clerk and treasurer an~d r was always pul-ite and courteous to s ,those who had 'usiness wi-oh the city. t Everybody -wishes shim much success in his new work. -Portrait of General Robert E. Lee. ~'Washington Post. vThe fact that too frequently it Stranspires in American history that no accurate and authentic portrait of eher great men is faithfully preserved ghas caused a nimber of the devoted eadmirers of General Robert E. Lee gto interest themselves to cause a per fect picture of the great General to be made and to be preserved for all fu dture history. This work after a lapse of forty years, is now under way by the John ~A. Lowell Bank Note company of ie Boston, who are using for this pur ~pose the exact photograph made at s~ General Lee"s residence in Richmond ie a few days after the surrender, which -' icture has always been considered K- bry the Lee family and friends as the! t- most perfect l'keness ever taken of at the General at that period. 'y The work, when finished, will be of !? the 'highest art of steel engraving, so .> that it will thus 'be. preserved for all his duty during the coming months and to throw their full moral and fi- y nancial ability in the great fight that 's we have engaged in. The "Bear" i1 speculators of Wall Street and Lon- ; don are using every device known to a human ingenuity to depress prices. c The Internatioaal Cotton Spinners of I Great Britain have combined to crush p the present efforts of -the farmers to s maintain fair prices, and exporters p are doing all in their power to ham- a mer down the market. The so3ution t of the problem is easy and simple. il The ability of the farmers to win this p fight is unquestioned. Stand togeth- p er as brothers, battling for the pro- c tection of your firesides and your q homes, your wives, children and your t< country. Stop selling cotton at pres- I< ent prices. Call upon your merchants an'd bankers to aid you in the heroic k struggle that lies ahead. Store your 11 cotton in the seed wherever possible v and do not have it ginned until later A in theseason. Storethe lint cottonun- s, der good sheds to' keep it dry on the farm or place it in warehouses, where the receipts are needed as collateral to borrow money to meet maturing J, obligations. All other lines of busi- J: ness borrow money, why not the 14 farmers, when by so doing they can y hold their cotton off the market and materiallyadvance its price? Pay no t: attention iO'the "bearish" literature ti being printed and circulated broad cast throughout the South. This is 1N done with but one object and that to cl discourage-and induce you to sell your v cotton at prices below its' value. As producers you. know that the crop is d short and that unless you get good v prices, at least eleven cents per pound, there will be but little or no .profit a: in this crop. b Hold your cotton and check up the s' present heavy receipts and- demand not less than eleven cents for every pound of middling cotton you have to S offer. The Sotrthern Cotton Associa tion, The Farmers' Educational an'd Co-operative Union, The American Society of Equity, The Farmers' Al liance of North Carolina have all agreed on the minimum price of' eleven cents and the membership of these powerful organizations standing together in unity and harmony, can, defy the combinations of the world1 and win another notable victory, the C like of which was never witnessed be- C fore. Call your county and district meet-' ngs throughout the entire belt. Build up your membership in the Southern Cotton Association and stand firmly together for justice and protection. ~ a If you will check the sale of your cot ton for 30 or 6o days this Association ' will guarantee an advance inl the price r easily to eleven cents per pound. Do '~ not rush your cotton on a depressed market, but sell ~slowly and prove to ' th.e -world beodalquestion of doubt that Sout-hern farmers have the ability, the determination and thet strength to force the world to recog nize their power in maintaining a fair ~ price for their products. The Southern Cotton Association must be maintained and financed by the farmers of t'he south. Its power' to protect the interest of the pro ducers is recognized and feared by all the leading- speculative and cotton in terests of America and Europe. If we go down in defeat the enemy will be merciless and it will take twenty years for the scutih to recover again. Stand by the association and thereby protect your individual interests. The soioth ,is both mentally and financially able to manage and protect her in terests from the dominating and dev astating hands of her enemies. Last January the price of co .ton was depressed to 'six cents per pound and the Southern Cotton Association was organized at the New Orleans, Convention January 26, 1904, to bring about harmony among the producers, merchants and bankers so as to ad-'1 ance the price to ten cents per pound. rhe world knows that through. this iowerful organization the price of pot cotton was advanced to ten cents ri the south on July 3 just five months ater. Not only this but the assist nce given the "Bear" operators by ertain officials in the United States )epartment of Agriculture was ex osed through -the efforts of the as ociation and the rascals were romptly turned out. This work has ]ready saved millions of dollars to he south and will continue to do so fostered and maintained by the peo le. If the south could advance the ' rice of a 14,ooo,ooo bale crop from 6 ents to 10 cents, clearly it would re uire but a little co-operative effort > secure not less than eleven cents >r a iopoo,ooo bale crop. Let the people know the truth, now the power of their strength and ien let them act promptly and the ictory for higher prices will soon be ,on, then their great staple will be flling at its real value to the world. Mrs. Amanda G. Crooks. 'Mrs Amand'a G. Crooks, wife of Mr. . B. Crooks, of Walton, was born uly 24, 1842, and died September 27, )o, thus closing a pilgrimage of 63 ears, 2 months and 3 days. She was a sufferer for about twen (-five years, but was patient unto ie Lend. She was a consistent member of S*. latt-hew's Evangelical Lftheran lurch , and attended when health ,ould permit. 'Sh;e leaves a 'husband, son and three augnters, who will miss her gentle oice and tender steps. On the following afternoon, after ppropriate service at -the grave, her ody was laid to rest beneath the iade of the trees. Thou art gone to the grave! but we will not deplore thee, ince God was thy ransom. thy guar dian and guide. [e..gave thee, He took thee, and He will restore thee .nd death has no sting, for the Sav iour hath died." J. J. Long. On To Washington. Special low rates to Washington, 1. C., one fare plus 25 cents on ac aunt of the American Bankers Asso iation, October ioth to 13th, 1905 Tickets on sale October 8th and th, final return limit October 15th, 95 An extension of the final limit may e secured to October 25th, 1905, by eposit of ticket with the special gent, Mr. Joseph Richardson, Wash 1gton, D. C., between the hours 8 a. 1. and 8 p. mn., daily except Sunday, r 'between the 'hours of g a. m. and 2 noon, and 3 p. m.and 6p. m. On undays not earlier than 'October 8th, ot later than October 15th, 19o5, and pon payment of fee of fifty cents at ime of deposit. For further information apply to !our nearest ticket agent, or comnmu icate with, W. J. Craig, General Passenger Agent, Wilmington, N. C. At Bachiman Chapel. There will be divine service at Bachman chapel Sunday afternoon at :3o o'clock. Service conducted by ey. John J. Long. The public is cordially invited to Lttend. WTICE OF FINAL SETTLE MENT AND DISCHARGE. Notice is -hereby given that the un 'ersigned will make a final setlement s Executrix on the estate of Thos. F~. Harmon, deceased, in the Priobate Court for Newberry county on tihe [4th. day of November, 19o5, at 11 'clock a. m. -All persons holding :laims against the said estate will resent the same duly attested by r'aid date and all persons indebted to he said estate will make payment. Adelaide B. Harmon, Executrix. HARYIE GORDAN SPEAKS ON PRICE COTTON WHY ELEVEN CENTS WAS FIX ED AS MINIMUM. Spinners Can Make Money With Present Price of Goods and Pay Twelve Cents-Every Man In South Expected to do His Duty. At a meeting of the Executive Com. mittee of the Southern Cotton Assor :iation, held at Asheville, N. C., Sep tember 6-8, i9o5, where representa tives from each cotton producing state nd territory were present, a report :n the condition of the coton crop made up to August 25th, was care Fully compiled from returns of more :han i5,ooo correspondents showing a :ondition of 73 per cent as compared with a condition of 8 per cent. for a :orresponding period of 1904. An es imate of the crop for this season )ased on reports from the same cor respondents indicated a yield oi ),588,333 bales of cotton. Taking this nformation as a guide in connee tion with the present enormous de nand for spot cotton by the spinners >f the world, the present high prices )f cotton goods, and the heavy cost o the producers for cultivating and larvesting this crop, -vhe committee greed that eleven cents as a mini mum price, *basis middling at all in terior points, would be a reasonable nd conservative price to be asked by the producers this season for their ;taple. It has been generally report d, and not publicly denied, that spift 3ers can pay twelve cents per pound For middling cotton at the present time. and. still make good profits in the marufacture of the raw material into the finished fabric. Peace has >een recently declared between Rus ia and Japan. The whole civilized vorld is in a most prosperous condi tion and the spindles in all the cotton mills of Europe and America are run ing night and day to supply the tre ,nendous demands for cotton goods. Consumption Unprecedented. -The enormous crop of American :otton reaching the un.precedented figures of nearly 14,0oo,0oo bales has beent easily absorbed by the spinners at an average price of nine cents pes pound. Of this crop there was only a small reserve stock of little more than a million bales to be carried into the season of 1905-6 on the first day of September. If no more than ten nillion -bales of cotton are harvested this season to be added to the small reserve stock carried over from the crop of 1904, the mills of the world, at the present 'rate of consumption, will face a famine in raw cotton be fore another crop can be planted, cul tivated and placed upon the market. The mills have contracted for many months ahead for the delivery of goods to be manufactured outr of cot ton yet to be bought from the pro ducers. The exporters have sold to the spinners cotton to be delivered in the future months which is yet to be bought from the producers. The spinners and (he exporters are 'heav ily short, with nothing but paper contracts in their possession, white the farmers of the South 'hold the spot cotton in their hands and control ab solutely the key to cthe situation. Will the farmers take advantage of the splendid position they occupy, and like men, assert their rights to de mand a fair price for this crop at the hands of the buyers? Will not the mercahnts and local bankers through' out the South line up solidly in un broken ranks with the farmers against the combinations that are so actively at work to depress prices and defeat the will of the people? Must Do Our Duty. Every man in the South, no matter at+i avocain, is expected to dc