The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1905-05-24
MILLIKENS FAIL
TO GUST LUCAS.
Are EnjOined from Voting
Their Stock.
THE NEW DIRECTORY.
Mill Controversy Now in The Courts and
Mr.. Lucas in Possession of the Mill
Which He Made a Success.


afternomnations had beenmade for nine
directors in the Laurens Cotton Mills
stockholders meeting Friday afternoon
prevented the most of the Milliken in
terests from voting their stock. Most
of the Milliken men left the meeting
and the Lucas stockholders proceeded
to elect board of directors.
This board, after the meeting, re-
elected w. E. Lucas president and
treasurer for the ensuing year at his
present salary. 1t unanimously ratified
contract made by Mr.. Lucas for the
mill and j. p. Stevens & Co., of New
York by which the latter's firm con-
tracted to sell the goods for five years
at per cent. commissions. They have
the option of renewing the contract for
another five years. The mill has the
option of selling goods directly. The
mill has been paying Deering, Milliken
& Co., four per cent. on most of it's
output and three per cent. on part.
The new board of directors consists
of w. e. Lucas, G.. G. Featherstone,
j. d. M. Shaw and Alexander Long, of
Laurens; w. M. Bird, F. j. Pelzer and
w. w. Ball. of Charleston, and j. Will
kins Norwood and Joseph E. Shrine of
Greenville. All were present except
Messrs. Pelzer and Shaw. The latter
was sick. Mr.. Shaw is Laurens
farmer who refused to sell his stock to
the opposition at any price. About 3,4O5
of $500 votes were represented. C. G.
Featherstone was elected chairman of
the stockholders meeting, William
Banks of Columbia, secretary, and M.
l.. Copeland, assistant secretary. Af-
ter routine business, including the
reading of the presidents report,
which showed small profit for the
year, Augustine 7. Smythe of Charles
ton moved to go into an election of nine
directors. He. then nominated q ticket.
Young G. II. Milliken rose to nomi-
nate a ticket and at that moment Dep
uty Sheriff A. r. Sullivan entered the
crowded mill office and served the in
junction on him and also on W.. M.
Bird, the latter as representative of the
mill Apparently the Mllikens were TAX
en- by surprise. They asked for recess
of Is minutes and retired. Returning,
John B. Cleveland asked on behalf of
the Millikens an adjournment for two
weeks. This was voted down by viva
voce vote of 20 to 13, the Milliken party
participating in this vote. Mr.. Cleve-
land stated then that the Milliken party
would withdraw and asked for the re-
turn of their proxies.
Chairman Featherstone ruled that
the proxies were part of the record
and could not be withdrawn.
Mr.. Smythe gave notice before this
withdrawal that the meeting would pro-
ceed to elect directors. j. o. G.. Fleming,
of his stock and is allied with the Mil
liken party also withdrew, as did N. B.
Dial and one or two others. Mr. Dial
has sold no stock and is not allied with
either party. Mr.. Smythe's ticket was
then elected by vote of 1928 shares
of stock.
Mr.. Hatch, S. M. Milliken's son-in-
law, remained in the meeting and was
one Of the tellers. Mr.. Messerve, Mr..
Milliken's nephew and r. K. Carson of
Spartanburg, one of their attorneys
also remained. The Lucas element hold
that majority of the stock was re-
presented in the meeting exclusive of
the enjoined stock. The meeting was
free of excitement, but the serving of
the injunction was dramatic episode.
Who the Milkens intended as Mr..
Lucas successor is not known, but one
of their party said privately that w. S.
Montgomery, who was present was the
man. He is now president of the Spar
tan Mills and is director of the Watts
Mills, of which MIR. Lucas is president.
His brother, Mr.. V. M. Montgomery
was until today director of the Lau-
rens Mills and the relations between
Mr.. Lucas and the Montgomerys,
it is said, have been of warm friend
ship.
The injunction is based on suit
brought by Mr.. Lucas against Mr..
Millikcn alleging substantially that Mr..
, iken some weeks or more agreed to
sell him his 500 shares of Laurens stock
if ne would arrange to pay the debt of
the Darlington mills within 90 days. Mr.
Lucas settled the debts of the Darling
ton mills, sending Mr.. Milliken's firm
checks and asking him to send the Lau-
rens stock certificates to the City Ma
tional Bank of Greenville, where they
would be paid for. Mr.. Lucas made the
financial arrangements to meet Mr..
Milliken's draft. Mr.. Milliken's firm
accepted the checks for Darlington's g
debts, but did not send the Laurens
stock. The suit further alleged that
other shares were bought to enable the
Millikens to dispose of Lucas so that
their commission house would continue
to receive four per cent commissions
from management of their naming.
There is considerable feeling here.
Two of the former directors are with
the Millikens, Mr.. Fleming and Col. j.
w. Ferguson. The latter was formerly
an attorney of the mill. 1t is said that
he sold stock, but he was represented