The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-10-20
WALK INTO MY PARL9R;.' =
ONE WAY IN WHICH COUNTRY kER-
CHANTS HAVE CONTRIBUTED TO
CHARLEsTONs PROSPERITY.
Some Facts and Figures Which May,
Account for the BIighted Condi..
tion OF Our Mercantile and Asri.
cultural Interests, and Which May
Show why Charleston Owns One.
hfth OF the Property OF the State.


hfth OF the Property OF the State.
AS matter Of public interest we herewith
append the copy of an obligation, the signing
the wall, and left the obiigor te6nyless /.
After absorbing oil the money which was put
In the business, the farm " hich was r,ortgdgrd
al The % to secure the Ith6ul
he Is now more destitute OF home than hum. /.
dreds OF earthquake sufferers In Charleston, .
The obligation which we queue beloH is. We
the mortgage, without Extraordinary cere.
mony, took the land In the usual route, and
sent the unfortunate citizen out OF doors.
TO, 10 cite general principle and not with
the view Of calling attention to any Fartiru::
lar case. we presume every reader of the
ad Bas IN any Of our towns can
Within their own knowledge. Here Is O copy
Of the obligation:
THE STATE OF SOUTH CAROLINA:
| COUNTY OF ABBEYILLE- :
(merchant,) Of County and sta:e Aforesaid, a
held and firmly bound unto -,,{cotton
factorJ OF the city OF Charleston; state afose.,s
said, In the penal sum of six Thousand dollars
his certain attorneys, executors, aud admins.
| traitors; Orasslgns; tow hfch payment we'll and
:ruly to.be made and done, I bind myself and
and and administrator, adm jointly aud seSeraliy,
Sealed With my seal and dated at - the.
Lord eay one eyy r hes
| - and in the one hundred ahd - year Of
the sovereignty and independents 6f thS
United States Of America. -" -
The condition Of The abore obligation is SUCH,
That II the above bound -, (merchant.)
his heirs executors and administrators; shall
and do wei! and truly pay or cause 10 be paid
unto II, the above named -|, Cotton faetor)
tors or assigns, the full and just sun, Of three
thousand dollars. with interest at the rate OF
| ten per cent. per annum from the date hereof,
gsyss gys On 5 ss0ss r the a.h Pc s.
ME OF to =, EmerchGnt3 either eE 62th. ..by
the said =. Cotton factor;) Orrany ae1punt
whatsoever either in the shape OF discounts or
date hereof and The e said date Of sist dss Of
December A. D. 1885, and shall ship to- the said
=, Cotton fuctor,) five hundred t5QW bales
A. D. 1885, and In event Of the non-shipn,ente
OF the said number of bales OF cotton BY the;
time specified. shall pay as llquidated DAM!
ages one dollar and fifty cents on each and all
bales not shipped as stipulated, ], the said -
-, (merchanC) further agree to pay all ex-
penses whatsoever. including fees TO attor.
neys. attending the collection Of the said.
debts and the enforcement of mortgage OicerE
TO secure this bond, without fraud or furtbef2
outlay, then the above obligation to be voids
and OF no erect, otherwise 10 remain In null
''''' '' tslgned by) ~ =,
NnTE.-That interest Is charged at the rate.
OF ten per cent. per annum, with the further
obligation to ship five hundred bales OF cotSs
| ton, for the use of $1,000 or forfeit the sum Of
sl.50 bale for the non-shipmcnt Of any part
Of the five hundred bales. AS security for the
money loahed; and, rs security for the inter.
est and the forfeit Of $3.50 bale, farm is
some times mortSaged In the beginning, and
In the winding up Of a few years business the
| land may be seen advertised by the Muster or
Sheriff to satisfy the obigations - ~ =
Let US see how itworks, md so Into some Of
A man in the country. with integrity and !.
energy, concludes TO 60 into the mercantilet
business. He soon finds that his limited ;
need 10 Ge I'm
form similar to the above, and as 9 rull, soon
finds that his money and iunds are gone:
Tesy ss.es sS sS@sssas sae III 6
70 pei per cent Interest on 5000 for,say 2
Actual ein ioss REALIZED on is bales ship
ped under said cOntract.................6 69l ~
Forfeited on a25 bales q Sl5O-...........- $3.50
Cost of use of s., COO for six months...., ,lSs.s2
1t will be remembered that the merchant.
undertakes TO ship five hundred bales, besides
aging interest, for the use Of s3G0. At the
present price OF cOCtnn, Win Ine average
weights as packed at present, five hundred
bales weuld cost about Sl9,0O The merchant
then understakes TO buy and deliveries
$1,000 and actually pays 81 1882 for the use Of
the money for six months.
The losses on cotton was partly made up by
losses in weight One merchant In this coun:
ty lost last year on five hundred bsles S,ol4
pounds. -
The loss in weight Is about eqhai to the diff
ference in price at Abberille and In Charles
ton. .'.r x :. a
The difference of the two markets is: about,
onc-fourlh or three-eightlTs OF a cent. The av-
erage loss In weight Is q fraction over six
cents. The increased price is about Sl.00 bale;
1 TO comply with the terms Of the contract, and.
and 10 reach better market, the shipper Is
subjected TO charges like the following:
COTTON SALES.