Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1902-10-08
wEsrMINsTERs NEW ENTERPRISE.

the prospectus OF tho Westminster In
vestment Savings and Trust Company.
This is new enterprise and it will
doubtless be success. 1t is not the
purpose of this company to do bank
ing business as that business is generally
known. 1t is, however, tho purpose of
tho company to assist in building up
the town and community in which it is
located, and, in general way, the whole
County of Oconee.
1t is intended by this combination to
bring together supply Of money with
which to aid any legitimate enterprise
that may be started, and by it's influen ce
and capital to encourage and promote
manufacturing enterprises. Every pro-
6gressive public-spirited citizen recog-
nizes that If our county is TO keep pace
with tho spirit of progress, so manifest
in the Piedmont section, we must be up
progress which has been made in this
county within the past few years, still
we cannot and we must not stop. So far
we have made a good beginning, but we
believe it Is only beginning, and the
future is pregnant with great things, if
we will but put forth our hands and
seize the opportunities that offer. With
this end in view the above enterprise has
been inaugurated, and twill surely re-
ceive hearty welcome by all the people
of our county.
Among other things the promoters of
this enterprise hope to assist in the de-
velopment of some of the splendid
water powers in our county, to buy large
tracts of uncultivated lands, clear a
portion of the lands, build comfortable
houses and then sell the small farms on
easy terms to young men just starting in
life. The company will also be prepared
to make loans at reasonable rates on
farm property. The banks cannot we'll
handle this class of loans, and, conse-
quently, farmers often have need of q
place at which such loans can be carried.
One result is that more or less land is
always for sale, thus deprecating prices
and keeping our lands far below the pre-
vailing price of lands in other counties.
The company also intends to encourage
peach culture. This industry, which is
doing 80 much for other sections, can be
made to do much for ours.
These are some of the things which
the new company proposes to help to do.
The time has arrived for such an un-
dertaking, and the seizing of the oppor-
tunity is due to the foresight of Mr.. w.
p. Anderson, who is tho leading spirit in
organizing the company. In this con-
nection it may be we'll to refer to his re-
markable success as financier during
the past eight years.
On September 1st, 1904, he organized
The Peden 6 Anderson Banking Com
pany. During these eight years the
bank has paid seventy.eight per cent in
dividends, and the stock to-day is quoted
at sixty per cent above par.
In August, 1893, Mr. Anderson took
charge of the Southern Shuttle and Bob
bin Company. At that time the stock
was offered at from twenty to fifty cents
on the dollar, and yet there was no one
to buy. Mr.. Anderson rebuilt the plant
and on February 1st, 1900, reorganized
the company and soon brought the stock
up to par. On August 1st, 1900, six
months after the reorganization, the
company paid a semi-annual dividend of
five per cent and continued to pay five
per cent semi-annual dividends during
the time that it was under his manage
ment. On January 90 1902, he sold the
plant and received for each stockholder
the uniform price of $125.0O per share.
At that time the stockholders had re-
ceived three dividends of five per cent
each, which, added to tho above price,
made the investment yield them $40. 90
for each $4,000 invested two years be-
fore. In othor words, each stockholder
received all the money he had put in
plus twenty per cent interest per annum.
In both of these enterprises Mr.. Ander-
son was careful to look after the interest
of his stockholders, as a simple recital
Of the facts fully show.
Mr.. Anderson is only az years of age.
BY careful study and ripe experience he
is eminently fitted for tho management
of such an Enterprises the ono which he
- now organizing. He is capable, public
spirited and enterprising after the very
best model We feel sure that his new
enterprise will meet with the hearty ap-
proval and support of the representative
citizens of Oconee county. He is sup
plying long felt want and success will
surely crown his efforts.