Historical Newspapers of South Carolina

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C. IM l RAILROAD. API'I.H \T10N MA ?K Kol; ill \lt TUt WD $:10.000,0<K> IS CMMTVI.. 1 ?? Mr. Uni. II. I.yle* lutereat? ?1, Wim ?"tern Statement of ! Ine of Carolina. < llnohnvhl * Ohio Company. Application for a charter hy the Carolina. Cllnchfteld 4: Ohio rldg has bees made to tha secretary of i.tate. This i4 the Una runnlrg from the coal Sehl* Virginia to aome poln. in s i.: < 'nrollna. praaumably Chatks? tor. but In the application for incor? poration the route la not stated, it la state, d. however, that Spartanburg is included In the route. Tie (apltal slock Is placed at ISO OOO.i.oo and the application la signed hy Wm. H. Lyle? of this city, O ?orgo I* Carter, of Johnson City, Tenn., A. A. c i -Km of bVi. col, Tenn. Tha 'hi r 1*1 Mao states that tfe line Is ch r ten d n Virginia, the application her" being to domeatlcate the |lnA. Accord tag to preaent plana Spartanburg wpI be a terminal and another terminal ia at p< int near Island Ford ferry. Of the IIn? ten miles have already been con at me ted and the Iota! length Is 244 mllei. Th? plana so far call for at least 10 mllea In South Carolina. The head office In St. Paul. Va.. and the line at preaent beglna In Russe) coun? ty thst State. The fee for the charter filed wUh the aecretary of state is st least Sl.000. This application for this charter is of considerable. Importanoa to tha entire State. It Is known almost officially that the C C. at O. line haa aa a terminal plans for the port of Chsrleston. pro? vided arrangement* can be made with the sltjv The recent banquet In Spar tanburg at which rallroid officiate con? nected with that and other lines were preaent attracted attention all over the State and atnee then it haa been re? garded as a certainty that Columbia will be one of the Important feeding points on the line and In fact It la be? lieved that headquarters for aome of the officiate will be established here. The railroad offlclsls connected with ? the line are naturally reticent about their plans but those who keep poeted <>n railroad matters know that the Uns Mil eventually go through this city tri continue to the coast. When a domestic charter is applied lor the line of route will be given, the following from The Sent'nel of ? lirwin, Tenn.. concerning the es tab * l-hnuent of the shopa, will *?e of In u t wish to take a, too op tnsUstic vt?w of the future possibilities ft I .win following ths location of the lanerat shops* yards and division headquarters of ths Carolina CMnch *eM A Ohio rallwitV at his place, but without a tslnt of exMi^ratlosj. wa feel safe in the pr? diaHon 'that tha > rh and prosper^ ?f our city fol heels of the i wonderful In comparison to what It otherwise might have been. New enterprises will ikelv spring up on every hsnd. Various m'Hs and factories will soon realize the advantages of our town for the loca 0 >n of their enterprises, and with the promised phenomenal growth In our population will come the growth in manufacturing and commerlcal enter' prises as well as all other business No town la Tennessee, nor In the satire South for that matter, affords a more favorable point for the location of va? rious manufacturing and commercial el terprlses than di>e* the town of Er? win on the line of the Carolina. Clinch field A Ohio railway." ?The State. Marked for Death. "Three yesrs ago I was marked for death. A grave-yard cough was tear? ing my lungs to pieces. Doctors failed to help me, and hope had tied when wr hft?h*nd got Dr. King's New Dls m s Mrs. A. C William *. M li.? K\ The first dose helped me a ment kept on until I and ounds In weight and m> heat" ally restored.' This medi? ae world's healing record for coughs snd colds snd lung and throat diseases. It preventa pneu? monia. Hold under guarantee at W. W Ulbert s Drug Store. SOc and $1.00 Trial bottle, free. WE DEPART From ordinary methods whenever we bei ieve we can serve y.u better by doing, so. For in?tan<e, it ia the snpsgsj to wait until the end of s aeasoti to r. urn ?ftSJSjg oil . _ ^ JEWELRY. Wn M.mply rt - terse 11,* pro :ess. W* make all th reductions possi? ble for good Jew? elry right nov\. You dt n't have to wait snd watch fur Jewelry bar gaina here. They sre her* all the time. We A. Thompson, ? Jeweler. REAL HIGH FINANCE. SKMINOLF NKCt'lUTIES COMPANY STOCK1IOLDFJ1S SCALPF.O 01 PIIOPF.H STY LI!. Promoter* and Other Vn-nuiucd Per? son? (,ot Premium of Fifty Per Cent For Selling Stock und Now An? other Artist flats About $75,000 Commission on Sale of Stock in it North t^arollnn Insurance Co?Scan? dal Too Kauk to hi* I/ongcr Sup? pressed by Columbia No\vs|Mi|>cr8. For neveral weeks there have been rumors that the Semlnole Securietles Company, of Columbia, an Inauranoo holding corporation, was on the verge of developing a high finance scandal of considerable magnitude and that when the facts could no longer be suppressed there would be revela? tions that would smirch not a few names that had heretofore escaped unfavorable criticism. The expected has happened and the Columbia news? papers, being unable longer to sup? press the story, newspapers In other towns having got hold of the facts, a little light la turned on and the first chapter In the scandal appeared In The State this morning. The story was red reading to not a few Sum tor people, for a large amount of the Semlnole stock Is held by Su utter peo- J pie, every one of whom subscribed and paid 'or the stock largely on account of the fact that Messrs. W. A. Clark, Wille Jones, and T. 8. Bryan were trustees of the company and endorsed It In the highest possible terms as a safe, sound and extremely profitable Investment. The State's story Is as follows: Interesting facts with reference to the Semlnole Securities company are being made public. For some time this company has been engaged In business In this State and adjoining territory, with Columbia as headquarters. The object of the company was to sell stocks until there should be collected an amount sufficient for financing a casualty Insurance company. The shares were of the par value of $1 each, but the actual selling price was $1.50. In this way a large sur? plus was raised In the outset. The boldness of the proposition of selling for $1.50 an untried security of a face value of $1, coupled with the breezy Western manners and flashy dress of the young men employed to sell the stock, caused a lot of discussion In the State. There were complaints made to the Insurance department, but Com? missioner McMaster was without law to authorise Investigation, even had such a step been deemed necessary. In July It was stated that practical? ly enough stock had been sold to war? rant the starting of a eompany to en? gage In the insurance bustne??. Not much was heard from the Semlnoles then unMl fair week, the latter part of October, when It was announced that the Semlnolo Securities company had taken over the majority of the stock of the Southern Life Insurance company of FayettevHle, K. C, and that the headquarters of this company would be at Columbia in the future. The next phase in the history of this company was a rumor, whlcn reached Columbia a fortnight ago, to the effect that the sale of the Southern Life had been "framed up" and that some of the purchasing agents had b??en well paid therefor, In effect get? ting commissions out of their own stockholders. In the outset the Semlnole Securi? ties company had as trustees Messrs. W. A. Clark. Wille Jones and T, *. Pryan. Friends of these gentlemen a few days ago apprised them of the disagreeable rumors recently set afoot. Mr. Clark at oner signified his In? tention to go to Fa.wtteville, N. C last Thursday and have the matter In? vestigated. But Mr. Williamson, pres? ident of the Southern Lift, was not in Fiyettevllle and Mi. ('Ink's visit was deferred until Monday of this werk. Mr. Clark's solicitude, he says, W%9 not due to any direct responsibility, hut to his moral responsibility. The trust,) i nothing hut ministerial power and duties. They were mere? ly acting as a depository for the funds. However, then? names might or might not navf been ssed In rais? ing the stock, the osteal Of the san" tlon which they g.iw was merely to have It said that tin y would ittpsrvlSi the paying In of the rn >nt\. When the trusters were apprise 1 that there were stories afloat whleh etrne dangerously near connection their names with questionable trans? actions. Mr. ( lark immediately luv - IlgatSd. UpOfl going tO Ka\etteville he found that th. stockholders of the Southern Life Insurance SfSTS un? aware of any double dealing. If any there had hern. Put upon a msstlnf of the officials It was admitted that $75.000 bad Seeg turned back by the Southern directors to C. J, Hebert, who had conducted the sale. Hr, Clark. <;,.M Jonss and Mr. Pry? an had sfrsady mailed their resign? ations to Mr. John Y. < larlingtmi. thi pr? idenl <>f um ?emlnoli ?eourltltt company. Mr. Clark said further yes? terday that the trudies wash their hands Si the entire matter. All that In and the trustees paid out the funds to the Southern Insurance company only when they were authorized to do so hy the directors of the Seminole Se? curities company. s>me newspapers in other cities have been commenting upon the sale of the Southern Life to the Seminole Securities company and when one of these articles was brought to the at? tention of Mr. VV. A. Clark yesterday, he practically admitted the accuracy of the statements and In effect de v? ;;iied his disapproval of the course pursued in taking over the Southern Life. He says there are innocent stockholders of both concerns who will be treated unfairly in paying such a heavy commission. He was not ready to accuse any one of breach of trust, but he was highly displeased with the transaction and appealed to be very Indignant. One of the recent publications with reference to ths matter reads in part as follows: "During the last year the agents of the Seminole Securities npany have South Carolina and have been remark? ably successsful In disposing of the block of this company at prices above par, in fact, at $150 per share, pay? ments being made in cash and notes. "According to the statements of the Southern Life Insurance company of tlclals. the company on July 1, 1907 had a paid up capital stock of $162, 700 and was pledged for $8,000 addi? tional. In September, 1908, through Mr. C. J. Hebert, the Seminole Securi ties company bought $115,000 of treasury stock, increasing the paid up capital to $276,700, and the Seminole Securities company also purchased from individuals $35,000 of stock, thus giving the Seminole Securities com pany $160.000 of stock, on which $9, 000 Is still due. "Of this stock. 1,060 shares have been delivered and 440 erg held. The Seminole company, therefore, has ac tually purchased 1,060 shares, par value $100 per share. For this stock the Southern Life Insurance company received about $150,000 net, or at the net rate of $140 per share, of par value of $100. For this stock 1,060 shares, the Seminole Securities com pany paid at the rate of $216 per share, or $228,960. The difference be? tween the amount paid by the Semi nole Securities company, and the net amount received by the Southern Life Insurance company is $76 per share On 1.060 shares the difference is $80, 560. On 1,600 shares the difference is $114.000." Mr. John Y. Garllngton, president of the Seminole Securities company, ar? rived in the city last night from Chat? tanooga, where he has been establish? ing branch offices. Mr. Garllngton on his arrival said that Tie had read with considerable interest the publications in certain n wspapers with reference to the Seminole Securities company, of which he is the president. The comments were unofficial and so whol? ly at variance with the truth as not to be seriously considered by any one familiar with insurance values. The purchase of a large block of the capital stock of the Southern Life Insurance company was made after a very careful investigation by experts covering a period of over two weeks. The men employed to report the con dltlon of the Southern Life and the value of said stock are recognized as leading authorities on such matters and their reports are accepted by all insurance departments. There can In no question as to the value of this stock and the future profits from same. "No commissions were paid by the Seminole Securities company and not one cent In the way of profit was re ceived by myself or any of my asso date officers of the Seminole Securi? ties company hy reason of this trade,' m i Mr. (Jarlington. Mr. B. R. Lacy, vice president and utnary of the Southern Life Insur? ance company, was notified by Mi Qarllagton of the matters being dis BUSSed With refrence to the transit of stock. Mr. Lacy Called Ths Slut, on long distance 'phone at 11 o'clock last night and declared that he wished to make no statement, as he did not know what matters had he-n hrough before ths public, but hi hurried! Outlined the transaction. Mr. c. j. Hebert, he declared, had been given an option on the Bduthsr Lite insurance company on ths 14th of August or 46 days before the pur ohas< by the Bemlnolc Becurltles com pany. Mr. Hebert had bt sn gh en 111 erai commission on ? graduatsd ical depending upon the amount he could secure therefrom. The capital Stock of the southern Life was $163,000. The objqVt was to mnke n million dol? lar OOmpany Of it. ThS Southern was doing a nourishing business and tlv> Only reason for Pishing tO SSll was for purpose^ of development. Mr. \V. A. Clark hnd visited Fny ettsvillfl Monday and had seen the ex eeutlve committee of the Southern Life. Nothing was kept from him. though no "admissions" were made. Mr. Lao] olalmi that there pas noth? ing to admit, Mr. Clark had not been Known in the former transactions The hoard of directors of the South, in Life authorized the sale of stock ami nrthAde In thn Fnvettevllle comoanv trustees in ignorance of the facts. "HOW much did Mr. Hebert get?" WO! asked Mr. Lacy at this point. "He received $7.500 in cash and the remainder in notes of the Semi nole Securities company." "But how much were they?their face value?" "Something like $67,000, In negoti? able notes, payable in one, two and three years." Mr. W. S. Cogburn, superintendent of agencies for the Southern Life In? surance company of Fayetteville, stat? ed to a reporter of The State that the Southern Life operates under the com? pulsory legal reserve deposit laws of the State of North Carolina, that the entire capital and reserves of the Southern Life are in the hands of the officials of the State of North Carolina and the certificates of the insurance commissioner of North Carolina ac? company every policy that leaves the home office of the Southern Life. The Southern Life, he claims, now has more cash capital than any other Southern company, more net cash sur? plus than all Southern companies com? bined save one, anoPfhe business that they are writing in this and other States is sufficient evidence of the es? teem in whlph the Southern Life is held throughout the entire South. Mr. Cogburn is a native of Edge field, where his father has been clerk of court for many years and he him? self has held a number of responsible insurance positions. Curtis J. Hubert last night wired The State as follows from Chattanoo? ga, Tenn.: "Garlington out of city, arrives Co? lumbia Thursday. No other person be? sides me nor any firm or corporation was paid a commission by the South? ern Life company of Fayetteville for the sale of the stock to Securities com? pany. My contract with the Fayette? ville company for sale of its *ock and commission therefor is matter of of? ficial record." From The State. The publication In The State yester? day with reference to the Seminole Securities company caused a great deal of talk in Columbia. Mr. J. Y. Garlington, president of the company, was here, having returned from Chat? tanooga, where he is establishing headquarters for pushing the work in that territory. The South Carolina territory is in charge of Mr. Chas. Dunne and Mr. Garlington divides his time between the two offices. Last night Mr. Garlington stated that he had had a strenuous day, an? swering questions from many interest? ed persons, and he added that every stockholder had approved his plan to have a thorough Investigation. After conference with local stockholders, and some from out of the city who happened to be here, he announced that several of the leading stockhold? ers, had been Invited to come here Saturday. These will be requested to map out a plan of investigation and to employ SXpsrt accountants. Mr. Garlington added that he would In? vite The State and the Charleston News and Courier to send skilled re? porters with the committee and ac? countants that the public rr'ght be informed the minute any irregulari? ties might appear. He added that the stock of the Sem? inole Securities company is worth as much today as it ever was?and really more. That instead of the losses in? cident to :darting an insurance busi? ness they had been able to buy an established business. With reference to the sale of stock of the Seminole Securities company, he declared that the directors had employed specialists in this line of work, men whb were well paid for their talent as well M their work. "The Seminole Securities company .vill come OUt of this situation strong* er than ever," he declared. "We have ilwayi u< on hampered somewhat by the envy of some unfriendly people, and when the searchlight is thrown on and we prove that everything is all ' flit, the confidence in the two com? panies will be stronger than ever.' of some interest in connection With the situation Ii the following letter conveying the resignation of the trus? tees, Messrs. W. A. Clark. Wille Join and t. s. Bryan. "We have Just learned from an au? thentic source thai you and those as? sociated With you received from the Southern Life Insurance company n very large commission, reported to be in the neighborhood of $70,000, i*o? c irrylng through the deal bstwoen the Seminole Securities company and the Southern Life Insurance company whereby the formsr company purchas? ed of the latter $150,000 of the stock. "This stock was purchased, as you know, at a very high price and we, si trustees, were Informed that the money would go into the Nrsasury of the Southern Life insurance company, BO that tlie financial standing of thai company would be Increased ;'"<i thus increase the value of the stock. It now sppeare that this much of it has been diverted. We regard it a fraud upon the stockholders of both of these companies and a flagrant breach of trust on the part of the officer! of each company Connected with this longer to be associated in any way with the affaiis of the Seminole Se? curities company and avail ourselves of this first opportunity to notify you that we withdraw from any further participation in the affair of the Semi? nole Securities company, and refuse to act any further under the agree? ment entered into between the under? signed and the said company of date January 31, 1908, except as we may? be advised to be proper and necessary to protect the interest of the present stockholders or to enforce the collec? tion of any choses in action which may have been placed in our hands by the Seminole Securities company; and further forbid that you, or any of your agents, should longer use our names in connection with the said Seminole Securities company." ?Nearly everybody knows DoWltt's Little Early Risers are the best pills made. They are small, pleasant, sure Little Liver Pills. Sold by all Drug? gists. Richard Carroll has arranged with Booker T. Washington to make a speech-making tour of the State in the latter part of January. They will speak in this city. If You Are Over Fifty Read This. ?If you suffer from constitpation and liver trouble Foley's Orino will cure you permanently by stimulating the digestive organs so they will act naturally. Foley's Orino Laxative doc3 not gripe, is pleasant to take and you do not have to take laxatives contlnu ually after taking Orino. Why con? tinue to be the slave of pills and tab? lets? W. W. Sibert. Will Blackwell, colored, while a prisoner in the county jail at Aiken, attempted to burn the jail and make his escape. A Dangerous Operation. ?Is the removal of the appendix by a surgeon. No one who takes Dr. King's New Life Pills is ever subjected to this frightful ordeal. They work so quietly you don't feel them. They cure constipation, headache, bilious? ness and malaria. 25c at Slbcrt's Drug Store. The city council of Columbia has re? duced the members of the board of health from fifteen to five members. ?Every case of backache, weak back, bladder inflammation and rheumatic pains is dangerous if neglected, for such troubles are nearly always due to weak kidneys. Take DeWitt's Kidney and Bladder Pills. They are antisep? tic and soothe pain quickly. Insist upon DeWitt's Kidney and Bladder Pills. For weak kidneys and inflam? mation of the bladder they are un equaled. Regular size 50c. Sold here by all Druggists. Maria Walker, colored, fell into a well in Chester county and was drown? ed. Medicine That Is Medicine. ?"I have suffered a good deal with malaria and stomach complaints, but I have now found a remedy that keep.> me well, and that remedy is Electric Bitters: a medicine that is medicine for stomach and liver trobles, and for run down conditions," says W. C. Kiest ler, of Halliday, Ark. Electric Bitters purify and enrich the blood, tone up the nerves, and impart vigor and ener? gy to the weak. Your money will be refunded if it fails to help you. 50c at Sibert's Drug Store. Ko Stops In Sour Stomacl Belching, Gas Go to your druggist, get a dollar bottle of Kodol. And if you can honestly say that you did ncli receive any benefit from it after using the entire bot? tle, the druggist will refund your money to you without question or delay. We will then pay the druggist the price of the first bottle pur? chased by you. If you knew as well as we do bow good a preparation Kodol is, it would be unnecessary for us to guarantee a single bottle. Rut to let you know how good It is, as weil as we know, we will practically purchase the first buttle for you. We know there are thousands of persons who sutler from indiges? tion and dyspepsia who would be grateful to us for putting them in touch with KodoL That is why. FOR BALE HY A?^x>oooooooooats U/?e Farmers -.? Tr\is1 Commenced business April ?as shown by l>ail> 1905 1906 1907 1908 Progressive and Conservativ Accounts, large or small, b< Snake in a Cabbage. The Dillion Herald seys, "Mr. Elihtt Muldrow brought to The Herald office Tuesday a cabbage snake which was discovered in a cabbage by Mr. J R. Jordan. Tho snake was about five inches long and about the size of sew? ing thread. It was of a light yellow? color and the head and tail were visi? ble under a magnifying glass. I. is said that one of these sn%k<? cent;.ins enough poison to kill sixteen people.** In preparing cabbage for cooking th* snakes should be carefully looked af Ilavr Tilings. ?When the lungs are sore and in? flamed, the germs of peumonia and consumption find lodgment and multi? ply. Foley's Honey and Tar kills the cough germs, cures the most ob? stinate racking cough, heals the lungs, and prevents serious results. The genuine is in the yellow package. W. W. Slbert. John G. Brown has leased the Chester Hotel, at Chester, and haa taken active charge. ?Winter blasts, causing pneumonia, pleurisy and consumption will soon be here. Cure your cough now, and strengthen your lungs with Foley'a Honey and Tar. Do not risk starting the winter with weak lungs, when Fe ley's Honey and Tar will cure the most obstinate coughs and colds, and prevent serious result. W. W. Sibert. Frank Gibson, a son of Hon. J. P. Gibson, of Bcnnettsville, committed suicide at De Funlak, Fla., Wednesday by cutting his throat with a razor. Capt. J. C. Minus, U. S. A., now on detail at Clemson college has been or? dered before the retiring board at Washington on account of ill health. ?Foley's Honey and Tar clear the air passages, stops the irritation in the throat, soothes the inflamed mem? branes, and the most obstinate coui;h disappears. Sore and inflamed lungs are healed and strengthened, and the cold is expelled from the erstem. Re? fuse any but the genuine in the yel? low package. W. W. Sibert. William Martin Aiken, fomerly of Charleston, who was at one time su? pervising architect of the United States treasury department, died n New York. ?You should always remember thit most cough and cold cures are consti? pating. Yet the most important thir.g to do when you have a cold is to move the bowels. You cannot promptly cure a cold until you do this. Ken? nedy's Laxative Cough Syrup stops tho cough by allaying inflammation of the throat and lungs, and it drives the cold from the system by gently, mov? ing the bowels. Children like it for it tastes nearly as good as maple sugar. Sold by all Druggists. J. T. Miles, a white man. has been arrested in Columbia on the charge of forging a check on the Bank of Co? lumbia. Muscular Pains Cured. ?"During the summer of 1903 I waa troubled with muscular pains In tho Instep of my foot." says Mr. S. Pedlar, of Toronto, Ont. "At times it was so painful 1 could hardly walk. Cham? berlain's Pain Balm was recommended to me, so I tried it and was complete? ly cured by one imr!l bottle. 1 have since recommenii.d to several of my friends, all of whom spe/ik highly of it." For sale by all Druggists. dol digestion a, Heartburn, on Stomach. Furthermore, we know that after you have used Kodol your faith in the preparation will be equal to ours. This proposition we make is not altogether unselfish, but is actuated by the knowledge, that the use of Kodol by you will benefit you ai well as ourselves. ITow could we afford to make such an offer to the public. And how could we afford to spend thousands of dollars to tell you about it unless we positively know and were sure of the me rill of Kodol. We couldn't?it would bank? rupt us. Please try it today at our risk. Kodol dtgeat s all t he food you eat Sat what you want and let Kodol c Igest it. Kodt 1 is made at the laborator iesof hu C. Di Witt& Co., Chicago Tho 11.00 bottle contains 2* times as much as the 50c bottle. ILL DRUGGISTS. i Bank a^nd fl Co. 1905, Volume of business Exhibit Oct 31. $226,712.00 - ?315,206.46 $378,262.51 - 143,026.16 e, weare.sveadily growing 3th Savings and General