The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1888-08-02
Is THERE 4 PHOSPHATE TRUST:
Some Say that There is, and Others Say that
There is Sone-Some Facts of the
Case.

BEAUFORT, July 3l.-The Beaufort
Phosphate Company have obtained a
license from the State board Of agricul
ture to drc,lge phosphate rock in the
the waters of the Beaufort River. The
incorporators Of this company are:
jacob PauiSen, W. +. McColley and
Alton \. Smith, Of savannah, Ga. The
company will 90 to work at once, their
dredye and tug boat having arrived.
This Is a good thing for Beaufort, as it
will give employment to good many
men now doing nothing. 1t is estimat-
ed that it will cost between fifteen
hundred and two thousand dollars per
month to carry Oil the business of the
new company and most OF this money
will be spent in Beaufort. 1t should be
mentioned that this company is not
in the Ccosaw Trust"
1t is rumored in certain sections that
there is no such thing as the trust NEIL
toned in special from here some days
ago, but that pool had been formed
by the several river rock mining conpa-
nics. This impression is true that
nearly all the rock mined in this cOun-
ty is sold in Europe, but no pool has
been formed III order to protect the
price Of rock. The COosaw Mining
Company, the Sea Island Chemical
Company and the Oak Point Mining
Company have formed trust and have
one supreme superintendent, who IS
lord of all he surveys. If the Sea
Island Chemical Company or the Oak
Point Mining Company want pound
of rope they cannot get it without it
being ordered by the chief of the
"trust.n
1t should be remembered that the
Coosaw Mining Company is the only
phosphate company in this State that
has any exclusive rights, and the char
ter giving them that special right will
expire in short time and their chances
of getting any other exclusive rights
are very doubtful. 1t is stated by some
of the phosphate men, not in the Coo
saw Trust, that the only reason why
the Coosaw Company sought to form a
trust was with the view Of being able
to say to the next Legislature, that now
we are all under the same management,
grant us exclusive rights to as many
miles of river bed for such a number OF
years and we will pay such sum OF
money for it that the State can say to
other parties, we do not want you to
dredge any more rock; we can do as
we please with with our own property.
just how much of this may be true one
cannot say, but at any rate 1t is quite
reasonable to suppose that such is the
idea Of those interested III the trust
scheme.n
On the ether hand, it is not very like
ly that the Coosaw Trust will get any
Of the other companies into their
scheme, and they will have rather a
hard Job to down all of the companies
now controlling their own business.
The Farmers Phosphate Company is
as strong alone as all Of the trust COM
pallies, and it is a well-known fact that
they will not go with them. The Phos-
phate Mining Company (the Brother
hood Company will not go into the
trust as long as Mr.. F. Brotherhood can
keep them out. Mr.. Brotherhood is
now in London in the interest OF his
company. The Beaufort Phosphate
Company will never join the trust as
long as they exist. When they cannot
run any Longer and control their own
business they will tie up their nlachin-
cry and await the future.
The Port Royal Mining Company
will not be able to begin work until
after January l, 1889, since their failure
to obtain license from the State board
of agriculture. This isa great hardship
to this company, as they had purchased
dredge and tug boat at considerable
expense.