The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1902-01-01
MIR. BELLINGER'S JOB.
He Would Raise u Row In this Part
of the Vineyard.

Mr. G. Duucan Bsllinger. attorney genera
of the Staleof South CiroiIna IN ooollence u
a resolution of the General Assembly. has In
.tituted suits agaius the Virginia CaroIiA4
Chemical Company, charging IL number OF II
legal acts ON the part OF the c)mpauy, aileg
Ing among other things, that the company
violated the laws OF the Slate III buying ou
the different fertilizer companies. Mr.. Bel
fingers SKIS that the corporation DE dissolved
aud that thsse be returned TO the former
owners and that those who received
n ,ney for the sale OF their prop
erly be required to return the sam.
Mr. Bellinger further alleges thai
the Virginia Chemical Company At
tempts To govern prices ana 10 create
monopoly. In general way we believe the
above Is III the neighborhood OF being cor
If Mr.. Relllnger should be successful and
he men from whom ihe Co,9liha Cntton
ed 10 refund the price OF the Mill which they
sold In this town, someboiy would b" bad
Nv hurt even As the Carolina Cotton Seed Oil
Mul Company was badly hurt when they
bought.
Aswe understand. and we do not pretend
to give the exact figures. We speak In gener-
al terms. ~, ,,,
and Ginn.ry was built. stock was Issued "a
an amount of more than $4,000. The mill
was reported 10 be so successful during the
first year that II WAS deemed advisable u
water the stock 10 the amount OF twenty per.
stock holders ever received.
AS far as we are Informed not one cent o1
dividend was ever paid 10 any htuckholder
Mapy stockholders became diBhearteuSd
and sold their holdings, varying in price
from 25 cents on the dollar, up TO 80 cents. and
except those who sold early, we believe none
Drought more than fifty cents.
The IN achinery, IN a rule, was OF the earlier
patterns and is either much worn or prac'
tioally out OF date. The power plant WAS
next TO worthless. A liberal estimate OF the
value OF the whole plant could hardly have
been at a figure above Sl2 600. The Cotton
seed OIL Company paid $3!.5OO for
1t. After paying the debts then due on the
plant the stock holders recei we'd little over
eighty cents on the face vaiue OF the atock
This, after being out of their money for
lwelve or thirteen years without Interest or
dividends.
II Mr.. Rellinger can make the stock holders
Of his oil mill refund their money he will,
indeed, be mighty man. Aud ne VIII nave
him. il he can get back from the former stock
holders the money which was paid for the
Ahbeville Oil Mill.
yers complaint:
Within twenty miles of the Abbeville on
Miu are indepepent plants at Lowndesviile,
McCorm lex, Ninety Six, Greenwood, Coro-
uaca and Honea Path. II that isn't competi.
are dreaming.
AS TO the controlling Of prices:
The Carolina Cotton Seed OIL Company
has reduced the price OF ginning and pack.
Ing cotton from 81 bale to 75 cents a bale.
II has reduced the prioe OF hulls from Sc q
ton to IS . ton. As far as we heard the people
can stand the reduction.
II the Carolina Cotton Seed OIL Company
oaid as dearly for OF her old rundown
machinery as they paid for the .Abbevile
OIL MIL It will be long time before stock
10 that concern will command much OF
premium. No mon ever e1ected better
trade than was made by Mr.. ]. Allen Smith
when he sold the Abbevile Oh Mil. Aud nn
aan Oh earth ever more fully paid for the
value OF machinery than did the Caro-.
lima Cotton Seed OIL Company when they
paid for the A bbeviile OIL Mil.
The above estimate are our own. And the
estimate of the value OF tho property was
raised from $40, ,O9o to Sl2 0ov In dcferenos 10
the opinion OF the men VINO paid 30 mach
for our old rattle trap.