The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1892-04-06
SENATOR II;EY'S BANK STOCK.
He Sells 1t Because lie Is Opposed to
Financial Schemes and Csury.

aid, March 25.
The farmers We're unsuccessful in the
production of cOtton-both in price
and quantity. Gratitude, at least,
should have prompted a business based
upon kindness and charity, but TO my
surprise I find that the banks of this
county are forgetful Of past patronage
and ere now eXtorting the last cent,
that common decency will allow, out
of the farmers on the loan Of money.
Money is as plentiful and as cheap to
these banks now as it was i'll 1891.
Then they charged nine per cent. in
terest. Now, when they see our peo-
pie in helpless and impoverished con-
dition, they forced them to pay one
per cent. per month discount; and do
it as if they were comforting great
favor upon the borrower. I have al
ways opposed such financial schemes
and usury. I am more opposed to it
now than ever. | am a Stockholder in
one Of these banks. I condemn the
practice, and will not be party with
these Shylocks to indirectly rob the
people. Two weeks ago 7 gave them
notice that I would sell my bank stock,
and asked the cashier of the bank to
sell it. Intend to sell 1t, arI this eX-
PLANTATION is made lest some eLemy of
mine will charge me with being party
TO what I conceive to he a moral crime.
IT is SAID THAT HE NEVER HAD ANY
BANK STOCK.
Especial to the News and Courier
GREESvILLE, March 2S.-A few days
ago Senator Irby published a card in
the Laurensville Herald stating that
last spring be had urged the Alliance
to patronize the Laurens banks. To
his surprise, he says, he finds that the
banks are forgetful of past patronage
and are now extorting the last cent
that common decency will allow out
of the farmers.
He concludes by saying that two
weeks ago be gave the bank notice that
he would sell his stock, as he did not
want to give his enemies chance to
charge him with being a party to
what he conceivee to be a moral
crime"
This no dcnbt sounds we'll to farmers
who do not know everything that goes
on. 1t is stated here on good authority
that Senator Irby never owned any
stock in the bank. it is said that he
subscribed to eight shares last year,
and gave his note for about one thou
sand dollars. He did not pay the note
when it fell due, and the shares were
sold some time ago to pay the note,
and are now in the hands of three diff
ferent persons whose names are known.
This is the way, it is said, he gave no
tice" Of his intention to sell the stock.
Senator Irby's card amaZcs those
who know the real facts. w. W. p.
WHAT THE SENATOR AND THE CASH
TER OF THE LAURENs BANK
HAVE TO SAY ABOUT1T.
To the Editor Of the News and Cou-
rier: To correct the report sent to the
Charleston News and Courier, from
Greenville, with reference to my own
ership of certain bank stock, which
has been denied, please publish the
following letter from the cashier Of the
L. an and Exchange Bank of Laurens:
LAURESs, s. c., March %, 1892. To
the Hon. J. L. NJ. 1rby-Dear sir:
Your letter received. In reply would
say that you told me some time ago to
sell your bank stock. I have sold five
shares Of the stock, but it has not been
delivered to the purchaser. The other
three shares have been spoken for.
knew nothing OF the newspaper article
until l saw it in print. I followed
your direction as to selling your bank
stock. Yours truly,
W. a. WATTS.
take it for granted that you will
give this denial and explanation the
same publicity and prominence which
were accorded to the unfounded rumor.
JOHN l.. N. TREY.
MORE LIGHT on THE SUBJECT.
Special to News and Courier.
IAURENs, S. c., March 30.--With
regard to Senator Irby's bank stock, I
have the following from reliable sources:
In the fall of 1890 the Peoples Loan
and Exchange Bank increased its cap
ital, aud Mr.. Irby subscribed for eight
shares, giving his note in payment.
The note was attached to the stock,
and the bank held both. The note has
long since matured, and no payment
has been made upon it. About Christ
mas time Mr.. Irby requested the bank
to sell his stock, and a sale was virtu-
ally effected, though 10 actual transfer
was made before the publication of Mr..
Irby's card.
My information is that Mr. Irby did
not suggest to the bank that he was
disposing Of the stock because he be-
Iieved its rate Of interest to be excess
i've. The facts come to me from per-
sons who are IN a position to know.
STANDS By HIS STATEMENT IN FULL.
Especial to News and Courier
GREENvILLE, March 31.-1cur cor
respondent here has nothing to apollo
gize for or to take back Of the report he
sent from here Of Senator Irby's bank
stock. Senator Irby's card does not
refate one single statement made by
the correspondent, who has not mis-
represented the Senator, and who was
very careful il ascertainiDg from