The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1902-03-12
LIQUOR AND THE SCHOOLS,
Larger Contributions to the Cen
era1 School Fund From the
Profits on Sales.

era1 School Fund From the
Profits on Sales.
The State board of control was in
session last week, and the most impor-
tant matter under consideration was
the act passed at the recent session of
the Legislature directing larger pay
ments from the profits Of the dispen-
sary to the school fund.
The act shows that the General AS
sembly thinks that the State dispen-
sary ought to be able to do business
with a paid up capital of 400, 600, and
If that be real profit, which is so re-
ported, and moi on paper, that it will
be ample for the business of the dis
pensary.
According to the. last annual report
the d. .nensary has on hand throughout
the State in the various dispensaries
stock a%ggregating $342, 1852 SO, and in
the State dispensary stock valued at
$500 $3.50 20, and in the annual report
Is the statement that the State dispen-
sary has to the credit of tie school
fund $611,354 So. Nothing was paid
into the general school fund by the
~dispensary during the last year, accord
ing to the annual report, and all of the
profits made last year and for some
time before Lave been put into the
business, as appears from the annual
report.
Now the General Assembly thinks
that the business ought to be run on a
capital of $500 900, and that the
balance reported as due the public
schools, $211,354 3S be paid in cash
before January /, 1904, and that in
the meanwhile the quarterly profits
should be paid over to the public
school fund as made hereafter, and that
no part of the profit earned flom now
, on should go into the dispensary bust
; ness, and that in two years the SILL
, 600 in addition should be- paid into the
| public school fund. Last year the dis
: pensary reports a net profit of $780,
: 965.25, and the likelihood is that an
equal sum will be made and paid into
!, the treasury during the present wear,
The lntimation has been made that
r h ~dlspensary profits are somewhat on
{ paper, but when the present wear
Q closes anu the profit are paid out at
: the close OF each quarter it can be
: readily seen exactly what the State dis.
: pensary is making in the way of profits
L IL WhSolOI GlCSC DIOl,S are ACIlnl- on
r paper or in unstable stock.
The profits for the last quarter re.
9 ported are $41 1913 80. The State dis.
pensary does an annual business OF
over two millions of dollars, and the
c contention by the State board is that
t 1T will take close rubbing and difficult,
to run the business upon a cash basis
8 and not have over $500 900 worth OF
stock on hand. There are now over
one hundred dis%pensaries in the State
4 and the State board contends that al,
OF the dispensaries should be wei
stocked.
The State board will have an excel
lent chance to show their business
t methods, and to show exactly what the
dispensary does in a years. time in the
f way OF making money and at the same
time give the public schools a boon
they very much need.
! The act as it passed the General AS
sembly is of special interest at this
: time and reads as follows:
! Section 1. That the directors OF the
State dispensary shall pay over to the
State Treasurer 10y January l., 1904, In
equal semi-annual payments, all of The
school fund reported by them in excess
Oh 10000 for the benefit of the COM
mon schools of the State, to be D
Toned by and paid out on the warrant
OF the Comptroller General as Is now
provided by law for the apportionment
n payment Of the dispensary profits
Tor the benefit of said schools; provid-
ed, that the first payment shall be
made on the Both day of June, 1902.
Section 2. That from and after the
approval OF this Act the directors of
Ii State dispensary shall make a
quarterly statement for the purpose of
ascertaining the net profits accruing to
the State from the sales made from the
state ~dlspensary and shall pay over
the profits so ascertained to the State
treasurer within ten days thereafter