The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1902-01-15
SMITHS STATEMENT.

.r.. r......|.. Cir'i,: 9 LiS 49, =
His wonderful Success and the
Miraculuss Power OF Casa Splen-
did Busiaess In she Hands Of an
AssAgnee,J..! a.G.;.... al .:..n!. -
ti.siis.a {The State. ia. 49,. q
Sinpcceithe uutimely end of that in
fanS industry, 'The Amos Owen
Cherry. Tree company the skepti-
cal have been predicting. the failure of
'tthe father of them all"'-the Smith
newspaper CONCERN. Of Monticello, Fla,
which is,. the first: of the "get-rich-
auicki schemes, to be started. The
napkin ring copcernsi and other ,abor-
acknowledgement on the Smith copy
right ihaye. been /. failing and now
comes. the announcement that Smith
has made an assignment,
4 Fol. several weeks he has been slow
in.:makipg remittances, and now his
agents. ara being informed that they
are, ant to come out losers In this mat
ter. Smiths yaledictory is very affect
ing, has a a,"touching" ring about it.
He jis; or. was, the publisher Of the
Weekiy Constitution and the Monthly
Reporter, VIGOROUSLY ''sorry" papers
but,they have brought him over 40,
OO6 6subscribers through his system of
giving employment TO agents to do
writing at home. Some of these
agents in Columbia are sadly in need
of the money which they put into the
business and would almost be willing
to sacrifice their claims for pay for
worKi they have done if they could get
back the money advanced.
The last of Smiths venture is sum-
med up in the following statement,
which he issued under date Of Janu-
ary 4: :.a ,..>. - 70.
To the Public ~ ..a.>. -.. :. '.'
Leaving the University of Georgia in
1890, I moved to Monticello and in =
few wears afterwards-I havn't the ex-
act day before me, but seven or eight
years ago, took charge of the Monti-
cello Weekly Constitution, and have
continuously edited and published
that paper to the present time.
When look charge of that paper
it had less than one thousand SUBJ
scribers, and by continuous hard work
have increased its circulation to 10000
or more. was rapidly building up q
large Job printing business and had a
prospect Of doing about $4,000 worth
of advertising per annum.
In October, 1901, I bought and mev.
ed to Monticello the best newspaper
press-a Webb perfectiDg-in Florida.
with the exception of one in Jackson
Vile. I also purchased other costly
and valuable machinery with which
to operate the plant, and have nearly
completed a. new building, all at q
heavy expense. -" -.
Monticello being q small place 1t
was necessary that q large per cent Of
our business In the way of subscribers,
job printing and advertising, come
from distance. To get this business
it was necessary to have q good many
paid representatives, in the territory
from which we expected patronage.
The business was gradually increas-
ing. and promised we'll up to a, few
months ago. At that time I encoun-
tered some opposition, but by continu-
Gus and persistent effort managed to
withstand 1t for while. This oppo-
sition came from parties or uewspa-
pers who were and are not personally
acquainted with me and had no COR
rect conception of my work, from par
ties whose main hope'of keeping their
own heads up, depends on pulling
down the heads Of others. Their un-
friendly criticisms consisted Of state
ments and publications that were
wholly untrue, and without the slight
est foundation. I'm fact, statements
that were conceived in malice, made
IN jealousy, and circulated with de-
sire and hope toinjure. .a
As above stated, I was able to with
stand this opposition for q time, but to
do 80 was compelled to toll day and
night, which under the strain I have
had to 60, has seriously impaired my
health. am now unable to give the
business the energy and attention nec-
essary. for its successful continuation
under the difficulties briefly mention
ed. a., a.. ..--..
Had it not been for this opposition,
I would have successfully built the
business up to the point desired, Civ.
en- employment to many who needed
it, and made a fair margin of profit on
the business transacted. But bad
news travels at a. rapid rate and In
many instances substantial institu-.
ton under ordinary conditions has
been quickly ruined by the circula-
tion of untruthful reports, regardless
of who their authors may have been.
In conducting my business [ have
ever endeavored to keep faith with
each Of my representatives and am
sure reference to my past record will
satisfy any one on this point. And /
shall yet keep faith with them, even
though to do so, makes it necessary
for me to sacrifice everything I have
worked for, for the past II yesra.
I have carefully and maturely con-
sidered the situation for several days,
and have firmly concluded that the
only, safe course to take, considering
the interest Of all, is to assign all my
property for the purpose Of satisfying
the Just demands against me.
I have therefore, this day, volun-
tarily assigned all my property, real,
personal or mixed, including money
in the bank, and excepting only my
household and kitchen farniture, for
the purpose named. The assignee has
taken charge Of it and will make the
proper disposition of same. ,...ls... y
It is q matter Of deep regret and a
great disappointment to me and to my
friends-and am glad to say that l
feel that every one who is person
ally acquainted with me is my friend
that the course taken seems best.
Respectfully, etc. '
This Is accompanied by a statement
from "S. D. Clark, assignee" in
which he gives formal notice nf the as
signment, and says: You will there
fore discontinue your work in solicit