The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-04-29
IMPORTANT MEETING.
First Annual Meeting OF the Stock
holders of the Abbeville Cotton
Mill.

First Annual Meeting of the Stock.
holders of the Abbeville Cotton
Will.
ers of the Abbevi!le Cotton Mill will occur on
This will be one of the most important
meetings that the company will ever hold
come up. For this reason it might be we'll for
the stockholders 10 begin TO think of the
questions that will arise.
The first question will be, Who are entitled
to vote?
Then the question of proxies will come up,
The Bylaws will likely be altered so as Ia
make the President also act as Treasurer. In
other mills the two offices are combined. =,
The question of eligibility to directorship
may come up. The amount Of stock that will
make a subscriber eligible to Directorship
may be increased to $1,000. or more.
AS rule, 1t is probable that the old direc
tors will be reelected, but 1t Is understood
that some OF the present directors will no,
stand tor reelection. In that event new men
will take their places.
Mr.. Barnwell will be elected as a new direc.
tor TO fill place that will be made vacant
He Is one of the wlsest and safest financiers
that we have. and his association with the di'
rectors would be tower OF strength to the
mill.
Mr.. R. NJ. Haddon has been mentioned as a
possible new director In case there should be
more than one vacancy on the board. He is
a man whose success in life would add credit
to the Institution, and his financial standing
would give assurance OF the stability OF the
factory.
Mr.. John A. Harris will be bookkeeper for
the mill. His ability, Integrity, and applica'
ton assures satisfaction In that office.
The first year OF the existence of the factory
company has been one of constant struggle
but it has been one OF unfailing success. the
directors, regardless of the encouragement o!
croakers, have gone on steadily and surely
The success that has come to them Is nota6le
The company was organized without dol
lar in cash, and with subscriptions OF only
about forty thousand dollars, none OF which
were due in six months But sustained oy
patriotic subscribers who paid IN advance, me me
work went on, slowly, 1t is true, but none the
money could be secured to pay for the land.
The land paid for, the contract to make mil
lion and half brick was entered lnto Win.
out dollar In the treasury. As time went
on and as the brick were made the cash con-
tinued TO come in, and every pay yment for
brick and other supplies has been met.
They have contracted for the CONSTRUCTION
of fine mill building, and. If their good
luck does not forsake them, they will make
the. payments to the contractor, and have
more THAI hundred thousand TO invest ID
machinery. We have now $4,000 Of home me
and assurances OF about 500 900
OF Northern money.
The directors in this mill steered clear OF
the com mon mistake that has been mace.
namely: The completion of a small mill,
which had to be worked over In year or
two.
From the start the directors resolved TO
build big mill, and with an audacity, which
some might call recklessness, they com
menced S2j0,0U0 mill with only $4,000 OF sub.
scrbed stock. only small fraction Of which
had been paid. The result proves the WIS.,
dom of the course.
The stock holders and directors are much
gratified at their success, and are very proud
of the outlook for the future. We believe n o
one now doubts the success Of the enterprise,
and the faith Of the stockholders is best evi.
denced by their increase OF subscriptions.