The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-03-11
REPLY FROM Mr.. MlXSON
THE LIQUOR COMMISSIONER AN
sWERs THE STATE TREASURER.

sWERs THE STATE TREASURER.
He Claims that the DIspensary has Been
aProf,table Instltution--some Figures to
substantiate His Assertion.
Editor Register: But for the last
nara raeraph contained in State Treasur-
or Bates communication touching the
proposed changes in the Dispensary
law and published in today's issue of
your valuable paper,I would not have
one word to say in reply. And my
objection to that paragraph is not so
much in what he said as in what he
did not say and the false construction
which the average reader places there
on. 1t has been misunderstood by a
great many as meaning that the State
Treasurer had made the bold assertion
that the dispensary had not made a
dollar of net profit for the months of
November and December; and this in
the face of my special report of assets
and liabilities and profits and losses
covering these two months, which is
to be found on pages 81 and % OF my
annual report, and is also verified and
confirmed by the special legislative
committee, whose report also can be
found on pages lis to 119, inclusive,
in the same report.
For the two months of November
and December, the gross profits of the
State Dispensary were $102, ,S72. II ,and
the total expenses for the same period
were $66.2 242.O5, making a net profit
on the sales for the two months of
$50, ,63O.O6, whilst the net profit which
accrued to the State during the months
of November and December was $33, :
566.34. Adding to this the unearned
profit of $25, ,571 .S5 on goods in the
hands of county Dispensers on De-
cember 31st makes an earned and un-
earned profit for the two months of
$50, 1873 .l9. On December 3lst the to-
tai assets of the State Dispensary were
1914, ,07O.24 and the total liabilities
$40, ,253.67 The difference between the
assets and liabilities is balance of
$243, 1857, which is the net accrued
profit to December 3lst. OF this
amount, $11O. .34S. 80 represents the net
accrued profit for the eighteen months
Mr.. Traxler was commissioner and
$133, 467. II represents the net accrued
profit for the eleven months under my
management. The net accrued profits
for the two months of November and
December were greater than the prot-
its of any previous quarter g months)
save one, in the history of the Dispen-
sary, as is evidenced by the following
statement:
Net accrued profit for three months
ending April 80, $48, 327. 66.
Net accrued profit for three months
ending July 81, $3l, ,066.65.
Net accrued profit for three months
ending October 81, $50, ,507.12.
Net accrued profit for two months
ending December 81, s33, 566.34.
Net accrued profit for three months
ending December 81, S133, 1877.
Ofmy net profit of $133, ,4677, one
hundred thousand dollars has been
paid oTs- to State Treasurer Bates and
by him used in defraying the general
expenses of the State government.
Fifty thousand of this amount was in
liquidation of the State appropriation
for starting the business, and the re-
naming fifty thousand was in the ma.
ture of a loan to the State paid out OF
the commercial capital of the dispen'
sary which had accumulated under
nv management. This loan was made
from the dispsnsary fund at a time
when the State was out of funds and
was compelled to have money with
which to meet the current expenses OF
the State government and by being
able to draft on the dispensary funds
to that amount, the State was saved
the expense of interest. Since Noyem-
/ ber the 1st, (the time the $50, 900 was
advanced to the State TreasurerO l
have had to purchase heavily of IL
quors to meet the demands of the win
ter trade and. in consequence have
had to meet heavy drafts, and at a
time when had lessened my CONNER
cial capital by $50, 900. This loan was
made by me in defence to request
from the State Board of control.
At the time the loan was made, l
had to my credit in the State Treasury
and in iiie banks $104, ,422 "a. My to-
tai liabilities were $74, ,327.sS, or a
working cash capital of more than
$4,000 after paying every dollar of
outstanding Indebtedness. But at that
time when $4,000 was drawn from
my cash surplus, I was in less time
than it takes to write it and by the
stroke of pen placed in the position
of owing, in round numbers, $4,000
more for merchandise and supplies
than had cash with which to pay L.
But in that short time have sutfici-
emily recouped to be enabled in the
near future to again commence plac.
ing on deposit greater amount than
will be necessary to meet future out
standing Indebtedness.
AS to the State Treasurer's prophecy
that the honorable members of the
General Assembly will make mis-
take in basing their tax levy in ac-
cordance with the idea that the State
Dispensary will pay into the State
Treasury within the next fiscal year
one hundred thousand dollars, I have
to say that, in my humble judgment,
it is a manifestation of wisdom on
their part to assume that that amount
will have accumulated within that
time, and they will not be disappoint,
ed in their assumption. think my
Intimate connection with, and manage