Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1900-02-22
A CARD.

number of poOplo in tho county, and for
aught know elsewhere, for no ono can
prescribe tho limit of vicious tongue,
believe me guilty of misconduct in the
sale of tho Seneca Oil aud Fertilizer
plant, which occurred Oh tho 10th of
October, 1893.
Some whispers of these ISLANDERS have
repeatedly como to mo through tho in
tcrvcning years. but, knowing that was
innocent, and not dreaming but what tho
people generally knew the truth, that
thoy sprung from envy and malignity, |
paid no attention to what was said. But
l iind it necessary to make statemopt.
| wish to say to commence with:
novcr hold any position whatever in tho
Seneca Oil and Fertilizer Company from
its inception to it's sale. TO uso a hack
noycd expression l was private in tho
roar rank, whilo some of my traduccrs
woro directors.
Whom tho ginnory was added it put the
enterprise in dobt to tho amount, if
remember correctly, of $4,000. At a
subsequent stockholders meeting a roso-
luton was passed recommending asses
sing tho stock 80 pcr cont. Quite q mum.
bor subscribed fnr the additional stock.
but only fow paid it in. l paid tho
assessment levied on M. w. Coleman &
Co., which was $500. 1t was agreed that
il this additional stock was not generally
takon and paid i'll by tho stockholders it
should bo regarded by tho mill rs a loan
from those who paid the samo in, but
this was never dono.
In Juno following, at tho regular
stockholders mooting, it was found that
the dcbt, instead of boing diminished,
had increased. In olocting officers some
now directors wcro put in and a new
manager selected. There seemed to be
good deal of dissatisfaction and wrang-
ling. Some timc afterwards, during tho
month of June, presented {in tho pres
cncc of witncss) to the pI csidcnt of tho
company the following paper:
SENECA, S. G., June, 'O2.
TO the President and Directors of tho
Seneca Oil Mill and Fertilizer Co., Sen
| cca, SO. Ca.--Gcntlcmcn: At tho rcpu-
lar stockholders meeting of tho com
pany, which convened on the 7th. moth
ing unusual occurred. 1t was evident.
however, from whispers which could be
heard, that storm was brewing. Since
| have learned that there wcrc insinua-
tions made by few that tho larger
stockholders wore in a conspiracy to do
fraud the smaller ones of their rights.
Such charges, if not investigated, arc
likely to result in harm and croate rc-
Election on innocent parties. |, there
tore, ask that you examine into this mat
tor in order that the real conspirators,
if there be any, may be found out and
exposed; report of which you will
please exhibit at the ncxt meeting of the
, stockholders.
! increased the stock Of NJ. w. Cole
man L. Co. 80 pcr cent in the company
the second year of its operation for tho
purpose of erecting and operating GIN
merry, with the understanding that the
directors had increased their stock to
that amount, and Stockholders sufficient
would increase similarly, in connection
with new stock to } @ secured, to pay the
debt incurred for the improvement made
learn, to my surprise, that only few
OF the directors complied after subscrib-
ing; and, further, there were only a few
| ckholdcrs. outside of myself, that
| added dollar to their stock, leaving
virtually tho whole debt for the corpo-
| ration to carry.
Now, therefore, having subscribed this
increase under tho conditions above
mentioned, | submit to your honorable
body II 1t is not right and proper for the
money to be returned by the corpora
tion to those who subscribed it, aS the
company failed in its part of the agree
mcnt. According to a well defined rulc
| OF law ono party cannot he bound with
out the other. believe the courts will
| sustain this position, but ] trust you
will not force us to this resort.
Respectfully, &c,
NJ. w. COLEMAN.
| When the season arrived to commence
work tho manager found that The mill
had neither money nor credit to operate
with. He furnished what money he
could we'll spare, applied to others, but
none would help. IIo camo to nc, and
between us, sutliciency was supplied
to buy and work all tho seed that could
be bought in the home market. sim
ply got my money back-no interest was
| offered or demanded.
At the stockholders meeting in June
it was discovered that tho mill had still
made no money, and, to all appearances,
was hopclcssly involved unless the stock
holders would come at once to its rescue.
| They recommended again the resolution
| which had been adopted two years be-
fore, which is as follows:
TO the Stockholders Of the Seneca Oil
| and Fertilizer Company: "rhc Directors
Of the Seneca Oil and Fertilizer Com
| pnny would recommend that the stock
| be assessed 80 per cent to pay tho in
dcbtcdnesS Of tho MILL and in case they
do net agree to same that the creditors
he instructed to make their money out
OF the plant. and that tho money be re-
funded to those who paid the assess
| mcnt two years ago out of said sale"
The StockholderS will meet at tho Oil
Mill in Seneca on July 18th, at 10 o'clock
a. NJ, to consider the above and other
matters of great Importance. BE pres
| cnt without fail.
Ry order Of the directors:
w. $. HUNTER, Secretary.
June llth, 1898.
No attention whatever was paid to it,,
| notwithstanding earnest solicitations
were not wanting, so at an adjourned
| meeting notice, shown in the following,
| Il substitute was attempted:
SENECA, $. G., Sept. LIST, 1893.
At a meeting Of the Stockholders of
| the Seneca Oil and Fertilizer Co., held
30th August, lSo3, it was
Resolved, That the directors be an.
pointed to sec best offer they can get as
a rental for the mill for the coming sea
! son; also SEQ if money could bo pro-
| cured at per cent for eXtinGuishing
debt ny giving mortgage on mill, and
| that the secretary Of this meeting notify
each stakeholder that a vote will be
taken at an adjourned mccting to be
hnl f,, Il