Historical Newspapers of South Carolina

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I>K\!\ ON I'llK WKAI.TH OK SOI 1H CAKOL1NA i i Insurance Companies Doinir Business in Tlsrs State Took Away $2,400,000 Last Year. Columbia, S. C., Dec. 16.?Insurance Commissioner McMaster has been peg- j ging away trying to show insurance companies doing business in this State why they should invest their South Carolina reserves in this State. He v ~ n-itVi orvi-nn o ti hilt II iCt llii o viuv ou v . anxious to do more effective work in this direction. Xe devotes considerable attention to the subjects in his j forthcoming annual report and what j be has to say is the result of careful, etudy on his part. He will report: The increase in property values in j South Carolina for 1912, over 1911, asshown by the report of the comptroller j general ,is about four millions of dol-! lars ($4,000,000.) In the report of the insurance commissioner it will be shown that, for the year ending December 31, 1911, in- ! & , surance companies of other States do-; ir.g business in South Carolina, took j out of South Carolina about $2,400,000, j in excess of all payments made in i South Carolina. The details are about as follows: It must not be understood that this j represents a profit, for a very large: proportion of it represents funds which i must be put up as resreves to meet future losses. As will be seen, the amount of receipts in excess of disbursements in- South Carolina for fire ;^,,ronr>o Q^oidpnt and health, casual llioui auvv) vi.w.o ty, surety and such like companies, j is insignificant as compare-d to the companies. The receipts of 1911 were a little j greater than similar receipts in 1910. j It is probable that 1912 will show anj increase over 1911. It is apparent,; therefore^ that unless these funds i which are received by life insurance companies are invested in securities of this State, the operation of such companies in this State meaiis a very heavy drain on the resources of the ! State. ' The equities of South Carolina policy holders in the assets of life insurance companies now licensed in this State amounts, in round numbers, to about $27,000,000. This represents the accumulation of contributions which South Carolinans have made to these companies during the past thirty or forty years. Xo account is taken of funds which have been contributed by South Carolinians to companies I which, from time to time, have done1 business m this State, but are not now j ' ^ 1 I licensed in this State. cu l U1U Ci/ I considering the amount held in tf us- j teeship for South Carolinians in coin- j panies now licensed in this State, as stated, about $27,000,000, it is morej than, interesting to know that, consid-! ering all forms of investments in securities of this State, including railroad bonds, loans to policy holders, j State, County and municipal (bonds; and real estate mortgages, the total j amount of money that has been invest- j ed by these companies in this State j "will not exceed $17,000,UUU. in uuci ; words, approximately $10,000,000 of i South Carolina money has been invest- j ed by these trustees elsewhere than in j South Carolina. Some of it has gone j to erect handsome buildings in the j larger cities Of the country; greater j sums have gone to aid in the develop-) ment of new and Western States. It j is- needless to say that the ease with' which insurance money has 'been ob- j tained for farm Loans in the Western! States has added greatly in the development of those States: have made conditions of life e&sieT there, and, doubtless have been one of the chief causes of making those sections attractive to the young men of South Carolina, and other States which have been treated by the insurance companies as South Carolina has been treated. The result has been that, through the! operations of these great money-! lending corporations, South Carolina has been drained, not only of a consid-1 erable portion of her capital, but also I of some portions of her vigorous young j manhood. Such a condition should not j be permitted to continue longer. It is not a question whether higher rates of interest may be secured else1 Stn n-QSertion would j wutrc, muugu ljuuu ?u be absurd; it is not a question whether j these corporations have established! agencies for the lending of money elsewhere. The sole question is: Does South Carolina wish to license to do | business within her borders corpora- j tions, which in reality, prove such a drain upon the resources of the State? j The statesmen of Europe have long! since taken a contrary view and, regardless of the very low rates of interest obtainable there, practically every country in Europe requires either the whole or a considerable portion of the reserves on policy holders r in those countries to be invested iu .^mjties of those countries, and de.posjj^^j^iose countries. There is j I no! the same need to requin* the deposit of securities here; but there is equally as great need to require the j investment of South Carolina money in South Carolina securities. Not only have European countries | enforced this doctrine, but Canada,! Mexico, Argentine Confederation, Uru. . . , , . _ Iguay, ann otner countries nave aoiie 1 likewise. One American State, Texas, enacted : such legislation four years ago. When the I4W was enacted, the life insur-1 1 ance companies of other States had invested in Texas real estate mortgages I aboat $907,000, and total investment in j ! Texas securities of about $4,300,000. tu 1? 011^ o 1-iolt" 'lt'tfir thft An- ! i ill ce jcais anu a. iiun ?.~n. , actment of the law, the companies of i other States then doing business inj< Texas, has invested in Texas real es-i tate mortgages alone, about $10,400,-;' 000. The report for the past year is , not yet available, but it doubtless will j show still further increase. In 190f>,' the heme companies of Texas had in ; force two per cent, of the insurance written in that State; in 1911 the home companies of Texas had 39 0-10 per j ' ""t nf thp business in force in\hat' State. Forty-two life insurance com- j panies of other States do business in;. Texas and Texas has twenty-one companies of her own. During the past three years, since j the matter has been agitated in South 11 Carolina, a number of companies doing : Hiiciiipjss in this State have made in- j vestments in State, county and muni- ! cipal bonds and real estate mortgages, j to the amount of $6,245,000. These j investments have been made by a num. j ber of companies; yet several, and1 among these are some which hold ver> large amounts of South Carolina capi- ' tal, have made practically no invest-j ww /-vnrf T,v thie Sta te. I IIlUll t XUI I I Full recognition of the responsibili- i j ties on tliese trustees, and the care they ; i should exercise in making investments J i and the time it takes for them to be- ! ! come acSjauinted in new fields, should | cause all legislation 011 this subject to establish a State policjr that funds held in trust for South Carolinians should be invested in South Carolina securities. Legislation to this end is ! rwnmmftnded. The returns show that $2,409,505.58 | | have been invested by all classes of j i insurance comparies in State, connty j ! and municipal bonds and local indusI trial bonds; that $3,836,021.92 have j been invested in real estate mortgage?. ! The showing does not include South i Carolina companies', all of which | practically make all of their i/ivesi- j ments in this State. The showing is as follows by counties: Counties. Bonds. Mortgages. Abbeville. . .$ 39,000.00 $ 14,300.00 Aiken Anderson 181,600.00 ' Bamberg 21,250.00 ; 37.825.00I Daiiiinca. . Beaufort .. Beikeley Calhoun 8,000.00 Charleston . 185,742.94 204,500.00! Cherokee . . 53,187.50 18,000.00; Chester 14,300.00 1 Chesterfield . 10,000.00 107,700.00 Clarendon 47,851.67 Colleton Darlington 299,370.00 , Dillon. .. . 167,489.50 178,850.00 Edgefield jz,ouu.uui Fairfield !. Florence. . . 70,781.25 77,575.00 j. Georgetown 9,700.00 j Greenville. . 162,450.00 289,000.00 j Greenwood . 26,231.00 72,150.00 . Hampton 35,000.00 ' Horry. . . 6,300.00 ' Jasper ] Kershaw. . . 42,443.89 29,500.00 Lancaster , Laurens. . . 74,559.50 121,550.00 ^ Lee 35,250.00 11,500.00 Lexington Marion 20,550.00 Marlboro . . L0,200.00 97,500.00 Newberry . . 69,270.00 46,750.00 . Oconee. . .. 5,550.00 5,000.00 Orangeburg . 23,000.00 23,000.00 Pickecas 2,000.00 j | Oichland . . 388,768.50 963,960.00' Saluda.. 20,000.00 j Spartanburg . 277,328.00 533,306.92 j Sumter. . . 69,290.00 215,000.00 Union 133,462.50 23,633.33 j Williamsburg ...' 11,000.00 j York 238,001. JO 76,000.00 State bond? 327,500.00 $2,409,505.58 $3,836,021.92 Total ?6,245,527.50 No showing is made of any investments in interstate railroad bonds, which will approximate $7,000,000; nor loans to policy holders on security of j their policy alone, which will approxi- i mate $4,000,000, making a total of about $17,000,000 invested in this State by all the life insurance companies now licensed. 'IkATICE OF FINAL SETTLEMENT. VHfere is hereby given that the unde^HBtaJ^make final settlement estate Ed^izj9HH99^^HBHM^?d in the ProMH^^^H^HBH^B^kkCounty, f South Carolina, on .Januarv 1010, at ! ' ' i 11 o'clock in the lorenoon, and will imm diately thereafter apply for her discharge as such administratrix. AH persons holding claims against saidj estate will file same, as required by | law and all persons indebted to j said will make immediate settlement, j with the undersigned or her attorneys. Mrs. Lucretia J. Dawkins, Guardian. ! STOCKHOLDER'S MKEH>?. The regular annual meeting of the share-holders of the National Bank of i Newberry, S. C., will be held in the; president's office 011 the 2nd Tuesday i of January, 1913, at 12 o'clock in., for | the election of directors, and such oth- j er business as may come before said J meeting. R. D. Smith, Cashier. J CHICHESTER S PILLS ! v 'J: THE UUAM>. r. / V.VX -?. Ask y<v /( \ r-it < .'i-ehM-t/r'3 i {rti.nl/ I;'?! ? in K?-d and G?M nn-taUiA li? ) ';v. *V !?-ces, seated with &l:ic Ri! !?>n. v / i te* 5v\ .?>!$ 'i >ikc no other. Buy of jour i } " i f r*rti4rc:>U Askfr.r<'JIi.C'I!I>.Ti:iC *J ' J - iA f'KAM; M V V *y yearjknownasBest.Saicst. Alwavsliclia'!? j SQi D BY DRUGGISTS FVEimVHEgg j STATE OF SOUTH CAROLINA, COUNTY OF NEWBERRY, COURT OF COMMON PLEAS. George S. Mow^r, Treasurer of Ers- J kine College, Plaintiff, i against j Hugh T. Renwick, Defendant. By virtue of an order of the Court j herein, I will sell to the highest bid- j der before the Court House at New- j berry, South Carolina, on Monday, Jan- j m uary 6th, 1913, the same being sale- j day: All that tract of land in the county j and State aforesaid, containing sixtyfive (65) acres, more or less, and bounded by lands of or in possession of John S. Ruff, P. G. Glenn, Hugh T. j Renwick and J. S. Renwick, the same j being land conveyed to the said Hugh T. Renwick by Marcellus A. Renwick; by deed dated November, 1909, and known as the Glenn place. Terms of sale: One third cash, the balance in two equal annual instalments, with interest from day of sale at the rate of eight per cent per annum, payable annually, with leave to anticipate the credit portion in whole or in part; the credit portion to be co/%i,to/-? hv Krvn/1 /if fTio rmtv?1infipr and 0VV/UA vu Kf J WV4AU v/l. mortgage of the premises sold, which mortgage shall contain a stipulation to pay the usual ten per cent, attorney's fees for its collection in case it is collected by iuit or is placed in the hands of an attorney for collection. Purchaser to pay for papers and for recording the same. H. H. Rikard, Master. Master's office, Dec. 11, 1912. FOR SALE. "We the undersigned will sell on; I 1 -3 . T 1 A1 O 1 , ** T I saiesuay in jairuarv, iyi?5, uemg iViuuday the sixth day of said month, dur- j ing the usual hours of sale, before the court house door in the city of Newberry, S. C., to the highest bidder for cash three shares of National Bank stock, of the National Bank of Newberry, S. C. " W. S. and J. H. Atchison, j F December 3, 1912. ? 12-6-St. FOR SALE. I will se.ll at public outcry at the N'ewberry Court House on January 6, 1913, salesday, if not sold before ;it private sale, my place, lying near V Halfacre's mill, containing one hun- g ired acres, witli good dwelling, new barn: and necessary outbuildings, and fine pasture wired in, excellent neigh- 0 borhood and healthy location. Terms, | Dne-third cash, one-third in one year I ; O ind one-third in two years time. I "VT n Mnrvrp ;S ; SOUTHERN RAILWAY. i11 Schedules Effective December S, 191l|v Arrivals and Departures >'ew- j berry, S. C. c (N. B.?'These schedule figures are j shown as information only and are not |2 guaranteed.) 8:51 a- m.?No. 15, daily from Co- - lumbia to Greenville. Pullman j , sleeping car between Charleston j 1 11:50 a. m.?No. 18, daily, from Green- j ville to Columbia. Arrives Colum- j ' bia 1:35 p. m., Augusta 8:35 p. m. j Charleston 8:15 p. m. j *, 2:45 p. m.?No. 17, dally, from Colum- i _ bia to Greenville. i?:05 p. m.?No. 18, daily, from Green- j ville to Columbia. Pullman sleep- d <ng car Greenville to Charleston ' a Arrives Charleston 8:15 a. m. Ar js rive Savannah 4:15 a. m. Jack if sonville 8:30 .a. m. IS Four further information call on j a ticket agents, or E. H. Coapman, V. P ; iJ & G. M., Washington, D. C.; J. L. c Jieek, A. G. P. A., Atlanta, Ga., or F ? L jgnkins, T. P. A-, Augusta, Ga. ts I A ! f 'if, If 10 ift v I ! 'F1I'tf^ PI 'Jp* rir^R All winter long-?on t | windy, blustering days? I less Oil Heater gives ther It saves them many a col( warms the rooms not reached The Perfection Heater is mings (plain steel or enamel Ornamental. Inexpensive, moved from place to place. At Dealers Ei STANDARD 01 (Incorporated in 1 Newark, N. J. 11 THE PURE FOOD WHI! jUITIII UIIU At some time or another ne; I gets an attack of the "blues," even ntfAnnr oti/^ fV?o nrlinla Vtoc H WlUUgj ttliU HiV V* liVAV H VX1U UUs I That is the time when a little Sun i Pure Food Whiskey?will perform a i I Its rich, fragrant bouquet, and mell I it a delicious beverage?every gold* | the senses and soothes the nerves. | absolute purity and highly developed medicb g its use perfectly safe?in fact, highly benefici Sunny Brook?The Pure J 8 Bond?every bottle bears the Gree: 3 addition to ti?e unqualified guarantee by world that its quality is unsurpassed, you ha\ 0 that every drop is pure, natural, straight B end U. S. Standard lOO^c proof. Send your PAUL HEYMANN ' E. B. GIBSON HARRIN< BROWN & HAGIN Chattanooga, Ten iureka Violin Agency Spartanburg, S. C. Violins Repaired All kinds of violin repair /ork done with neatness and j ?n K1U. High-class violins made on rder. The best materials used nd the most loving care betowed on all work. Ship violin in strong packis hoy. wranned carefullv 7 ' ' I" I %j | /ith soft material, express repaid. Address: >. T. HALLMAN t 70 S. Converse St, Spartanburg, S. C. n-5-tf jjHIGHESTEB S PILLS THE l>IAiION:> fillAXP. a Ladies! Ask your i>ruraist for /A ?> 4\ <'Iit-cUe?-tfr,8 DiamondTirand^(\\ I'ilirt in K?-d aid Uold m<nalUc\^^> S-x ?boxes, s dies' with Blue Ribbcn. \ / - ? tyil To I/O At hov Flnr Af pah* V A*5? Jy years kno wn as Best, Safest, Always ReliaH* _ ?r SOI D BY ItRLififiiSTS EVFRVWHERf SOT1CE CF FINAL SETTLEMENT. Notice is hereby given that the unersigned will make final settlement s gaurdain of the estate of Jackon Stuck, minor, deceased, in the 'robate Court of Newberry County, outh Carolina, on January 4th, 1913, t 11 o'clock in the forenoon, and will nmediately thereafter apply for disharge as s-uch administrator. All perons holding claims against said esite, will file same, ae required by raagJ'-By gSa~WC?BV?raBBgm8 j I a 1 '[ '}. If I I Brings | - - ! I Solid I ' Comfort 1 c I to Old ; r ^ Feopb I THE 1 |?R!FEC?5GM I * ^ SmokeUSS^^/^ A |8 :he Zero days and the ? the Perfection Smoke- | t 1 j r j. J n real sona comiuri. m d and sickness for it easily s [ by the ordinary heat. made with nickel trimed turquoise-blue drums). Lasts for years. Easily jerywhere L COMPANY New Jersey) Baltimore, Md. HUH?? irsj \ ?A im <4S??? ariy everyone SU.SNYBROOK fthing seems to , *n * ; a dreary look. V/hiSKEY my Brook?The nagical change. t?sJ?*S5X?c? o\v flavor make jn drop pleases ^ Best of all, its |rRH? ial properties make ial. # rood Whiskey?is Bottled In n Government Stamp, so that in g the largest distillers of fine tvhiskey in the re tiie assurance of the U. S. Government Ej : whiskey, unadulterated, fully matured S order to A. L. ALSOBROOK CO. ITOM INTERSTATE LIQUOR CO. JEFFERSON DISTIlilNG CO. n., Distributors. I writes Mrs. L R. Barker, || of Bud, Ky., "and can do n all my housework. For I years I suffered with such I pains, I could scarcely I stand on my feet After I three different doctors had I failed to help me, 1 gave I Cardui a trial. Now, I feel I like a new woman." The Woman's Tonic A woman's health de- B H pends so much upon - her ] /xroro r\ O tint ihtk HI KhjS liClUCUC Uigaiio, uiui uiv I least trouble there affects I M her whole system. It is | m the little things that count, J I in a woman's life and I I health. If you suffer from I j any of the aches and I pains, due to womanly I I weakness, take Cardui at I fl once, and avoid more seri- I 9 ous troubles. We urge H j you to try it Begin today. H law, and all persons indeDted to saia esitate will make immediate settlement, with the undersigned. J. W. Stuck, Guardian. 12-6-4L Al MTOirs >0111 E. I, or a;i authorized agent, will be at the following places named below p 1 lor th?.' purpose of taking returns of personal property for liscal year 1 y 13: .Xev.i^iry, January 1st to 4th, in; elusive. i Jolly Street, Monday, Jan. 6th. i Pomaria. Tuesday. Jan. 7 th. Walton, Wednesday, Jan. 8th. Mt. Pleasant, Thuisday, Jan. 9th. Maybinton, Friday, Jan. 10th. I Long:-hor- .s. Monday, Jan. 13th. | .Newberry, Saturday, Jan. lltn. Silvt-r Street, Tuesday, Jan. 14th. i Chappells, Wednesday, Jan. loth. Kinards Thursday, Jan. 16th. Whitru.re, Friday and Saturday, Jan. ? ! 1 7 r 1i o rwl 1 t Vi a I in Hill* ^ ULli* V 1 St. Lukes. Monday, Jan. 20th. O'Xealls. Tuesday, Jan. 21st. i Lirtle Mountain, Wednesday, Jan. ' I 22nd. Piosn rity, Thursday and Friday, Jan. 23-d and 24th. X \v: erry, Moiiuhon Mill, Saturday i . . i j .Jan. 2.>m. ! Jan. 27th.* i New berry, Oakland Mill, Monday/ ; Xt-wherry Court House, Jan. 28th to i Feb. I'i'th. The time for making assessments | expires on Thursday, Feb. 20th. and j all persons, firms and corporations j failing to make their returns *>y 6 ?' o'clock on the evening of Feb. 2Jth. a 1 penalty of 50 per cent will be added j to their assessment of fiscal year 1913. The law requires a tax to be charged ? 11 ? -v* n ?J mAt*foQffaC | On ail Ilionevs, anu mui also an income tax on gross incomes in excess of $2,500.00. , There shall be a capitation tax of ; fifty cents on all dogs, the proceeds* to be expended for school purposes. Dogs not returned for taxation shall not be considered as property in any j of the courts of this State. | All male persons between the ages - ~ nan or zi ana ou years are uauiv w poj poll tax, except Confederate soldiers,, or those persons incapable of earning a support from being maimed or from^j| any other cause. Nothing but personal property is to^J be assessed this year, but all persons who have bought or sold any real estate since last return are required to note such transfers on iheir returns for 1913 . All property must be assessed "at,/" its true value," which is construed to* mean " the sum of money which such property, under the ordinary circumstances would sell for cash." Please do not ask that, your property be taken from the auditor's dupli? AU ^ ? cate the same as last return, ior mo* law requires that all property must be 11 listed cn regular tax return blanks aiyfl signed and sworn to by person listiJB same. Name of township and school disj trict must he given on every return. EUGENE S. WERTS. Auditor for Newberry County, dewberry, S. C. STATE OF^OUTH CAROLINA, * t COUNTY OF NEWBERRY.. J210. C. Goggans, C. C. C. P., Acting Probate Judge. WHEREAS, Laura A. Eddy hath^j made suit to me, to grant her letters S administration of the estate of aiiaB effects of Mary E. Counts, THESE ARE THEREFORE to cite J I and admonish all and singular the kindred and creditors of the said Mary E | Counts, deceased, that they be and apj pear before me, in the Court of Proj bate, to be hel^ at Newberry, S. C., on A j December 16, next after publication thereof, at 11 o'clock in the forenoon, I to show cause, if any they have, why ** ~ chmilH nnt.be J me sum auimmou _ granted. GIVEN under my hand, this 26th day of November, Anno Domini 1912. Jno. C. Goggans, C. C. C. P., * Acting J. P. N. C. i j NOTICE. j To the Stockholders of the Farmers J bank, Prosperity, S. C.: Notice is here- I J | by given that, pursuant 10 a reouiuiiuu ^ adopted by the board of directors of J the Farmers Bank of Prosperity, at &.^J meeting held at Prosperity, S. C., on^B the 24th day of October, 1912, a cial meeting of the stockholders ofB said bank will be held at 2 p. m.^P ' the 12th day of December, 1912, at j the banking house of the said bank, in I Prosperity, S. C., for the purpose of I amending the constitution and by-laws I of said bank so as to increase the a number of vice presidents and the J number of directors, and for the trans- J act*>n of such other business as may J come before eaid meeting. I H. T. Patterson,? 1 Secretary. I ? ~ ' ? n ioi i) | Prosperity, S. U., ino*. ? NOTICE. I To All Who Are Subject to Read B J Duty in Newberry County: The time a j tor paying commutation tax expires B on December 31. All who are subject to road duty had better pay your tax, I or you certain!y will be required to put in your full time under my dverI seers. A word to the wise is sufficient. ? W. A. Hi 11, fl Supervisor-elect.