The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1910-12-14
ICE LIANT.
When is This Thing Of Declaring Divi.
dends TO Stop?

uelIuS " otup;
Not so long ago the cotton mill folk de-
clared a dividend on its common stock.
And then it was that various persons
around town put on their best studying
cap, They had a faint recollection of
having once had scrip in that institution.
After rummaging among old papers for q
time the aforementioned stock was found,
in good state of preservation.
A~dividend made them feel as happy as
if they had received money from a deceas-
kindred in a foreign land.
When the ice plant began operation not
so long ago the air was full ofreports that
it was easily making for its stockholders
not less than twenty per cent. Stockhold-
ers gripped their stock with a tight grasp.
It was worth a premium then.
At the proper time investigation vas
had to see what dividend could be
paid. 1t was found and so reported that
there was a total lack of funds in the
treasury; the general accounts OF indebt-
| edness amounted to 81, 600, and a lite item
Of So, 500 was still due on machinery. The
efficient manager who had been so hope
full OF great results, and had promised
good dividends became discouraged at the
report of the Investigating committee and
thereupon he resigned his position. He
would have nothing more to do with a
machine that w0uld-Iike one Of the clGctri C
meters is said to have done-insist on run
ming backwards.
While we do not vouch for anything
electrically or fligidly, yet the story is
something like this: Recently a citizen
put in electric lights. The reading OF the
meter for the first month surprised the
aforesaid citizen on account OF the amount
| of the bill but he paid up. The next month
his bill forlights was about twice as much
as was the extensive bill of the previous
month. Being dissatisfied the house hold
CT urged that something was wrong. In
vestigation proved that the meter was
alright, except in a trifing particular. 1t
was running backw ard, instead Of for
wards.
It would seem that both meters in these
particular recitals were running back
wards.
The stockholders, in looking around for
a new management of the ice plant, asked
Mr.. w. P. Greene to take charge Of it.
Mr.. Greene Immediately set the ice
meter to running forward instead Of back
ward. The result was, the general account
bill Of s., 900 has been paid out !of the earn
ings last year. The debt for machinery
was paid by the issue Of bonds for S12, 500
81, 90 worth of bonds having been paid
thus reducing the debt from S15350 to
ST., 500. Beside this, money for interest
on the debt has been deposited in bank
with which to take up the January cou-
pons. The stockholders were paid a divi-
dend of four per cent.
! The above we believe to be at leastin the
neighborhood of the facts,
Now in addition, there are facts for the
digestion Of the scared gudgeons
| who sold their stock at a greatly reduced
price, ranging all the way down from IS
Fcents on the dollar.
It might be proposed to hold a gudgeous
meeting, to take up the matter of self pro-
lection in the future. 1t seems that a
plain ice cream parlor, a pious bazaar, or a
religious restaurant might be opened on
Sale Days and Christmas week to raise
funds for the relief Of the gudgeons who
parted with their stock at a trifle OF It's
cost. If this proposition carries, this
scribe will be the gamer Of s35.
Two ice plant stockholders sold their
stock at so cents on the dollar and made
good their loss by investing it in Kimberly
gold mine stock.