The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1890-02-05
COL. ROBERTSON REPLIES.
Interesting Facts as to the Organ
ization of the New Bank.
THE PART WHICH 1.-TWO PROMINENT
MEMBERS" OF, THE ALLIANCE ACT
ED IN THE WORK.

If the Bank Doesn't E'ay. IL is Pro.
posed to '.Enloa6'' on the Outside
Public 80 Ti.c Sentiment is APP
pIauded so the EcilO--CoIoncI Rob
criSon sill Seems Ia be EabOrin-
Under the DcIuSion that tlc AIii-
nncc has Something 20 do with
the Bank.
Editor Press and Banner:
1t was not my desire or intention to appear
again before the public i'm this matter, but the
interview of President Parker, and the article
signed "Dircctor' make it necessary for Inc to
say something more.
On the 2Uth of December last q meeting OF
the subscribers to the stock OF the Farmers
Loan and Trust Company was held in the
Court House. The Oh ecL OF this meeting was
TO receive tic reports of the cnnvassers, and
if we should find that we had the minimum
subscriptions required by the charter, to APP
point u day to organize. Over 90O0 was re-
ported us subscribed.
AT this meeting some 0f the canvaSserS re-
ported that they had several offers from out
sidcrS to take stock i'll our bank, simply us an
Investment.
This question was discussed Mt some length,
finally / offered a resolution that the doors be
closed to outsiders, and that we coniine our
subscription strictly 10 the members OF the
Alliance.
At this meeting County President j. r.
Blake, Junior, and County Business Agent K.
F.McCaslan were present and joined heartily
in adopting the foregoing resolution.
After some little preliminary arrangements
| Friday, the 10th OF january, was appointed
for the subscribers to the capital stock to meet
| to organize the bank.
| Between this meeting and the time appoint
Ell to organize, n regular quarterly OF tho
County Alliance was held on Friday, the ;}rd
January.
Upon coming to the public square on the
| morning OF this meeting, l made search for
| Mr.. Blake and was told that he and Capt. Nc
Caslan were in the Office OF Mr.. Parker.
When the time for us toasSembIc had arriv-
cd approached the Court House and upon
ascending the steps met Mr.. Blake.
| Af;cr the usual Salutalion he said: II am
glad To see you, FOR wanted to say before we
20 into the meeting that 1t is my opinion, that
we Will be compelled 10 admit outside sub
Scriptions 10 the capital Of our bank. I am
| sure we cannot do Il successful banking busi-
ness upon twenty per cent. OF our capital
stock, and that we will be compelled to call
on outside subscriptions to the amount Of
So 900 to make it Success"
said 81 doubt the propriety Of this move
We have just resolved to cOntine our SUBJ
scrlption TO the Alliance, and believe that
when we organize we can double the subscrlp-
tirn."
lie continued to advance his argument in
| favor of opening the subscription to OoutSiders.
We passed into the Court House. The meet
| ing was called to order by President Blake,
ch after tranSaclinS some OF the regular
business, rose in his seat and made a strong
appeal 10 the y lliance In very much the same
spirit that he had spoken to mc-only much
slronger-and saiu that our bank would be
failure without this outside subscription. 1t
occurred to me that q great change had taken
place in his mind, but as we had always lis
tened 10 his counsel and followed his advice
implicitly in all things. l yielded to him
par s s aGe eec h is dfs
sense OF This meeting (for 1t was not stock
holders mecting) we recommend that out
sidcrS be allowed TO subscribe TO the capital
IL
$2O0GO.
This recommendation passed without dis
| cuSSion or opposition. ! was led to make this
move by what seemed 10 be the wish Of the
President.
No reference was made 10 outside rcpreson-
tation on tho directory. No one thought that
| 1t would be desired.
supposed that the subscription would
come from those who offered it 10 the can vass.
crs.
On the morning OF the 10th of January T.
was decided by caucus TO locate the bank
at Abbeville, and then this question OF admit
| ting outside subscriptions came up.
Ni!cr long discussion in CAUCUS it was rec
commended to allow outsiders to subscribe
$4,000 to the capital stock, provided nine or
all of the Directors were 10 be elected from
! members of the Alliance. This was n COM
| promise by the contcnhing parties and unan.
| imousiy adopted in caucus.
This action was reported to the body OF
Stockholders, whrrcupon it adopted the first
| recommendation without division or opposi-
ti0n to locate the bank 1T Ahbevile
The second, to allow the outsiders to sub
| scribe $4,000 I'm stock with nine or all OF the
| Directory from the Alliance, met with stub
born opposition from those who favored the
admission of outside representation in the Di-
rcrtOry.
| Capt. McCasan came forward as the cham
pion of this party. He used Strong and iorci.
| hlc argument TO show how the insiders might
use this subscription In advantage. lie said
many comforting words to prove his sincerity
and patriotism. Among other things lie said.
| that IL our bank proved Il failure, IL will be
well for Us to have the outsiders with us so
that we can Wi0dd upon them. iGreat ap.
p!auSc from his followers.
| After this brilliant effort Of Capt. McCaslan,
and heated discussion, II was determined To
| elect one ontside Director.
| Outside subscriptions to the amount OF
| 81 800 were then received and Mr.. Parker was
| placed on the Board Of Directors.
| In Ilr interview with Mr. Parker as pub
| lishcd in your last issue, he makes one inter
cSting statement, rs follows: The week pre-
vious to the meeting OF the stockholders two
prominent members OF the Alliance, and sub
| ScriberS to the bank, called ut my Office, and
| in the conversation that followed they asked
If would accept the Presidency. replied
| that there were two difficulties in the way.
| One was the location of the bank, and the
other, that l was not member of the Ali.
;ncc. I was informed that the bank would
probably lie located ut Abbevilc and that the
| in. outside subscriptions"
| Now. who were these two prominent men,
brrs Of the Alliance. this scif-appontc1 com
mittee in search of President, and who
promised that outside subscription should he
| made? Could it possibly have been cur Coun-
| ~ President? He was the first one to men
| tor it TO me, after the resolution had been
adnrted not to take outside subscription
| Was it possible that the other was Capt. Nc
| CasIan, our County Business Agent, who ad-
yocatpd IL so effectively in the meeting?
| Whoever they be- they have the honor OF
driving that laccrating wedge. They have
n
our ranks?
Now, Mr.. Director, voted for Mr.. DuPrc,
I'm outsider, for the same reason that voted
| for Mr.. Parker. lie was competent and had
in no way, TO my knowledge, sought tho office
of Cashier. / did not nominate Mr.. DuPrc.
He was nominated by Mr. Todd, who asked if
| Mr.. Dul're was elected would il be satisfactory
to the Abbeville Alliance. said, ] can't
speak for the Alliance, but 1t is my impress
sion that ii would.
| voted for him for another reason: lie
| lives here, and for the first year lie would he
able TO hold the Office for Il small salary.
have no unlind word for my young friend,
| Director. | would not add another wound to
| his ucIiny toe. You are young and incXpc-
rienccd. In the iuiure he sure you are right
before you bring in your ''srand chorus
Now you c;ln see why this outside subscrip-
ton was pressed with 80 much zeal. 1t Is due
the stockholders and the Alliance that these
prominent members Of the Alliance be known.
| Who were they? Two prominent members
OF the Alliance and siockholdcrS IN th. bank,
ready to promise Mr.. Parker that he should
he made eligible for the presidency by open
Ing door for tho admission OF their
candidate for President. Had they any right
to promise such favor:
tend TO so into the Courts TO make the honest.
conliding farmers pay tribute TO this inStltu-
ton? 1t Is not their bank. Has not the AL
lance bank been turned over To the outsiders
By 1.-TWO prominent mcmhcrs?' If so, let
them have IT,, and let us abide our time. We
may yet have IN Alliance Bank, pure and