The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-07-12
THE STORY OF UNION

Tie Union Times relates an Inter
esting and valuable story of how the
town of Union embarked upon the
then somewhat dangerous sea of cot
ton manufacturing. 1t is tale with
a mora; but above al! an account OF
pluck and business daring which is
uot often @qual'ed We suspect,
however, that there was also a good
deal of sound business judgmen; and
sagacity which prompted the citizens
of Union TO do as they Gid. The
Times tells the story in this way
In 1898 a few Of Unions wide
awake business men decided to build
q cotton mill-ideas indeGsite-but
something like $1,000 mill Our
broad minded mayor, john A. Fant,
and that phenomenon in mill con
etruction. T. G Duncan, waited on
our citizens for subscriptions and
secured about $4,000 Next week
they made contract for brick and
material for cotton mill-with
board o. directors VINO had nerve to
endorse the mill paper for thousands
of dollars, the building was COM
pleted aud machinery installed at
cost OF about Sl50,000. The stock
jumped to l25 and sufficient issued to
take up outstanding liabilities lr
1896 The contract was given
for 100000 brick for the new
$4,000 spindle mill with hardly any
subscription pledged only the direc.
tors and machinery men intimated
that they would see President Dun
can through he did some sweating
before he completed the largest n,ill
in the south, but be did it-has every
dollar of stock placed and paying
good dividends to the lucky stock
holders
This determined action OF Unions
citizens displayed strong confidence
in the future of the cotton mill indus
try and a commendable spirit of local
pride. There was behind their move,
of course, a personal money backing
sufficient to make good their obliga
tions, but few men, especially in this
part of the country. are willing to
act as these Union men did There
are towns in South Carolina stagnat-
ing today, wherein live men just as
we'll of, perhaps wealtbier, than
these men of Union But they pre-
fer to remain town killers not
"town builders A more liberal
spirit, greater degree of confidence
i'm the future of their locality, and
desire to benefit others while at the
same time adding to their own store
of worldly goods, would make
Unions out of other South Carolina
villages
But Unions progress has not stop
ped The third mill will soon be
built and three miles of railroad will
be constructed to connect it with the
town. President Duncan will then
control The Times claims, the
largest milling interest under one
management in the south, the capital
stock aggregatiug about two million
dollars That is nearly sixty times
the amount of money which he
actually had behind him when be
started. The judgement of the
Union people and those who aided
them is amply vindicated The
Times can we'll afford to challenge
the south for another such record
This interesting story of The Times
was called out by reason of some de-
sponden: words OF exortation which
the County Recorder addressed to
the people of Bishopville. as follows:
We understand that there is some
hitch in the oil mill business on &C
count of the fear entertained by
some ofthe subscribers that they may
incur libility for the debts of the
corporation This is absurd. The
law specially provides that the stock
holders of banks shall be liable
beyond their stock for an equal
amount, but there is no such require
ment as to industrial enterprises
While the controlling conditions
are possibly different, the contrast
between the case of Union and
that OF Bishopville is very great,
and other towns besides BishopvilIe
out to profit thereby There is such
a thing as' being over confident and
reckless in investments and that
course is as disastrous as simple
stagnatlon. perhaps moro 80 in its
tendency to discourage other en-
terprises, but the Story of Unions
growth can but do good and furnish
an encouraging example for others
There is nothing like knowing jos:
Tho A,>od+;1o -h;oh