The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1890-01-29
.ABBEVILLE'S new BANK.
SUBSCRIPTIONS BEING PAID-AN ENCoUR
AGING OUTLOOK

AGING OUTLOOK
Interview with President Parker.
in Which He Makes Interesting
Statements.
Not finding Mr.. Parker last week, we
called upon him yesterday evening and
asked him for an expression In reference tc
the prospects of the new bank Of which he
is TO be the President. After firing hall
dozen questions at him. all in q heap, as in
dicated by his answers, he replied in one gen
eral answer, as follows:
Mr. Parker said he noticed in the last Press
and Banner that Col. Robertson speaks OF q
| 'conreSt" between him and myself for the
Presidency OF the Farmers Loan and Trust
Bank or this contest" know nothing and
| was not party to IL.
| Early in December, in a conversation In
my Office, Mr.. A. w. Jones informed me that
| I was spoken Of for President of the bank.
The week previous TO the meeting OF the
stock holders two prominent mcmhcrs OF inc
| Alliance. and subscribers to the bank, called
ut my office and in the conversation that fol-
lowed they asked If would accept the Pres
| idency. replied that there were two dill,
culties In the way. One, as TO me place. o.
was not member of the Alliance. was In
formed that the hank would probably be 10
Gated at Abbevile and that the other diff.
Guilty would be removed by allowing out
asked to subscribe and declined until knew
the action OF the subscribers to the bank.
On the morning OF the election OF directors
was called upon, ut my, office by com
mittee of three, who stated that they were In.
structed to ask my opinion as TO some points
pertaining to the control, by the Alliance, oil
l the affairs Of the bank.
Iadvised that the matter .wns under the
| control Of the ckholders and that the only
way to control it was to take care that mem
| berS of the Alliance always controlled ma
ljority of the stock.
| After that matter was ended was told that
the committee desired to know If l would
accept the Presidency.
| had heard 1t commonly spoken OF on the
streets. that would be President, that sup
posed 1t was the general wish. Alter 1 was
In formed that the meeting had resolSed iC
take outside subscriptions, l consented &c
make subscription. never sought or made
any effort to obtain the office.
As to the matter OF voting the stock. 1t is
mistake that "outside' subscribers Will vote
five shares to one for the Alliance members
Every subscriber who pays will be allowed tc
vote according to the number OF shares SUB
scribed.
tr0uuccd the resolution permitting "outside'
subscriptions to amount OF twenty thousano
| dollars.
He is an intelligent man and has had muct
experience, and If he had read the charter
ought to have seen that every stockholdel
stood on an equal footing.
| can only add that If the subscribers pay
up their stock, either in full or according tc
its terms, think the bank can be made a
success.
So far as the board have discretion the,
will endeavor to favor the interest OF the lnr
mer with n due regard to the interest OF those
who have invested their money In IT.. SO fal
I we have reason 10 be encouraged by the pay
| Ing in Of the stock, and think the twenty
thousand dollars will certainly be made up.
The above are Mr.. Parker views, snte
ments, and opinions, and are worth some
thing.
Whatever is added may be set down as oul
own opinion, or as orphan paragraphs whicf
we found floating IN the air, and may or may
not be worth anything. They arc repeated
for the reason that public attention Is now
directed toward the bank, and many OF oul
people are anxious to hear even Idle rumors
We are OF the opinion that the bank is oil
assured fact.
| Quite number of Alliance subscribers tc
the capital stock have already paid in thcil
| first assessment.
Many of the largest subscribers to the capi
tai stock will Increase their subscriptions.
About $4,000 of "outsidc" stock has been
subscribed. all OF which subscriptions are be-
lieved to be good.
AS soon rs $4,000 is paid in, the bank will
60 TO work.
1t is said that the officers arc now looking
for suitable place to do business.
At present Cashier Aiken Is occupying q
desk in the law Office OF Parker Il MCGOWAN
| We are not authorized to say SO, butwe are
inclined TO the opinion that every subscriber
TO the capital stock will be required to pay his
subscription. The certificates that they are
bona fide subscribers are held by the officers
aud We believe they Will, as they should. cn
force compliance with the certificates, which
are duly proven by witness in each case.
With all the obtainable lights before us, we
believe the new bank Is now an absolute Ger
tainty.
| Whatever intention the Alliance men may
have had of establishing an elymosenary con
cern 1t Is perfectly certain that outsiders vii
expect the officers to loan their money on
undoubted collaierals.
The bank will be Of great advantage to the
farming interests Of the country, and Will b(
an important factor in reducing the late O
interest on money.
| If the Alliance has done no other good, II
may Justly claim the honor OF inauguratiDg q
movement which has resulted In an actua
reality and in the establishment OF an inSti
tuition which will help to bring prosperity tc
all classes aud conditions of people