The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-01-27
Excess of assetS,.................

The next important question with those
most interested will be the winding up OF the
business. None but those who have Deel
through the mills can know the losses Incl
dent to u forced settlement of their affairs
Eesides the expense attendant upon such 4
course there are many losses. In the nrSi
place many OF the debts due 10 the flrm Will
now be Il total loss, whereas IL they had con,
1inued business many of these claims would
have been collected in full or in part, ut least
In the next place, there may now be Il loss u,
the sale OF the stock OF goods instead OF a
profit as in the usual course OF business. In
the next place. real estate at any time, under
forced sale, is not likely to bring iull value,
hut the losses on such property. II put upon
these facts before the reader he is as able to
furetell the end AS we are
Messrs. Cunningham e. Templcton com
menccd business in 1871. and for the flrst seven
wears of their mercantile career they were re-
markably successful, and had in that time ac'
cunulated Il handsome capital on which they
were doing business. This success gave them
much credit at home and abroad, and para.
doXic.l as it may seem, their SUCCESS and their
good credit was the beginning OF their dlSaS-
Ter. Continued success having crowned lh"il
efforts for several years, they BEGAN to win.
draw their capital FOR outside uses. In time
comfortable dwelling WAS built, fine store
house was bought, and money was put INTO q
farm in the country. These purchases with,
losses on cotton added to their misfortune, un'
til they became crippled in their business. IN
later transactions large advances from factors
was the consequence, and their failure is the
result. AS Il matter Of fact no merchant can
long preserve his standing in commercial cir.
cles when he has to pay ten per cent. for the
use OF money aud then submit 10 a loss OF ni'
teen per cent. in the shipment of cotton. This
we believe Is u rule to which there are no OK.
ceptionS II the average citizen who pays
even seven per cent. for Il large part OF the
money or property which he uses often fails
how is it possible for the merchant long to pay
cXorbitan interest and submit to enormous
furfeitS? While the immediate cause of the
failure of McSsrS. Cunningham & Templetnn
may be attributed TO losses on cotton and the
failure to collect their bills when due, yet the
primary cause may be said to be i'll the with:
drawul of their capital to buy real estate and
to establish n branch store.
This entire community, which has ever
held them in the highest esteem. Sympathise
very deeply with Me>SrS Cunningham Tenn
plet0n in this their darkest day. Their con
duct has been uprightand honorable through
out, and there are none whc do not regret the
misfortune which has brlallen them. After
Il long career as i business firm their with
irawal ut this time is deemed Il loss to tho
town, while their failure in business point ol
view must be a great personal disappointment
TO those who have given so many years OF the
hest part Uf their lives to the pursuit OF the
business. McssrS. Cunningham d Temple
ton have passed through the trying ordeal
without blur or blcnlish to their high inleG'
rlty.