The herald and news. [volume] (Newberry S.C.) 1903-1937, 1904-01-12

Total net profit for 1908, .S6s84s2 s.
Net profits and counties, 1902. S4439S 10
Net profits to State . =. =. :. :. 123699 81
Total profit for 1907. S5ooS9S 33
Total increase over 1902 7l5o4 "
Total gross sales for 1903. ..S2S17eeoT
Tota, GROSS sales for 1902 . . -. 24o6,213 50
Total increase over 1902 94llIoo Il
STATE BANK EXAMINER.
During past year my attention called to an Act passed
bv the General Assembly 1906 creating the Office of State Bank
Examiner requested appoint such officer lnve-
cation revealed the that such appointment had ever been
made though this has been the Statute books for years
provides for Advisory Board consisting OF the
Governor as president the Secretary of
State State Treasurer and the Attorney called
this Board together and after full discussion the Board declined to
take any action requested call attention to what
appeared be law await action by body
Detective first that there provision made as
to what officer shall the salary of the Examiner the State
Treasurer being authorized only his actual railroad tare
The provisions require that the State banks should be
responsible for the payment of the salary OF such an officer but
the law further defective, that there process
to compel the pay for this purpose An
nupeabe dcutone that renders the law noperaves that
no appropriation made for this purpose and the Con-
uion specifically requires that money shall be drawn from the
treasury only pursuance OF appropriation made by law
While believe in the principle of taxing corporations
pay salaries OF State officers whose duty it examine and
thn STILL should you gentlemen deem wise to perfect
Act stands would respectfully offer the following
suggesons that the salary named be increased to an amount
sufficient to command the services of capable who also
an expert This should be done both for the protec
of the deposo and for the safety OF the banks for only
such should undertake these responsible duties would
suggest secondly should this appointment be made that rules and
regulations for State banks be fixed by statute similar to those
legal restrictions governing the duties Of National Bank Examiner
OUR PHOSPHATE INTERESTS
The last decade regret to say witnessed the passing of
great which yielded large to the State
mining of phosphate deposits found the beds Of some
OF The truth of this cannot be better shown than by
the following the ending August 1893, the
revenue of the State this amounted to $29338o2
whereas for the past year ending October 31st received only
SS2 Ten years ago there were ten prosperous companies
engaged busineee about twenty large dredges
work. and Coosaw River and The vicinity of Beaufort presented
one be witnessed anywhere III the State
Today companies struggling for existence, while dis
naed and sunken dge and deserted and decang buildings
alone tell of an ndstry which besides employing large
labor and realizing handsome profits for those engaged
paid the State has been estimated SI33 tor each work
ing minute of the day.
unnecessary refer the variety of which have
brought this condition Suffice say that although the
Board of Commissioners have reduced the royalty with
hope of evving the industry has been Intellectual for as have
already stated there only companies at work. and these
companies claim Of the scarcity of available rock
mining be carried with profit the present low prices
your last your body fit abolish the office of
Phosphate Inspector and dvov the duties pertaining to that
upon the Board of Commissioners. Since the expiration OF
the of that officer the companies have been reporting monthly
to the Comptroller General and myself While am satisfied that
these reports still there is who officially
visit locality where the work carried and look after the
interests of State the annual visits of the Board being OF
necessity merely superficial Under these circumstances would
recommend State Geoogist be made member of the
Board and that far practicable the duties of the Inspector
devolved upon this officer The former Importance of this
business reminds that duty best endeavors to
make again. possible of to the State and
expert supervision and study of the natural conditions will tend to
accomplish this result.
THE LOUISIANA PURCHASE EXPOSITION
your last session bill appropriate s25ooooo for State
exhibit Louisiana Purchase Exposition to be held this
the city of ST. Louis passed the Senate but failed of passage
the House Shortly after the close OF the session Soooooo
added State Treasury through settlement made with the
United States Government has been mentioned in this Message
Thinking that with this money the treasury the fate OF the Act
have been different took the liberty Of writing each