Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1915-01-29
HERALD AND NEWS FAILS
WeII-known Newspaper Sueeumbs to
the Strinseney of the Times.
Herald and Neus Ian 06

| marked 20 years Oh my connection
with the Herald and News as, noml-
nally at least, part owner During all
these years my name has been at the
head Of the editorial column as editor.
best years have been spent in an effort
to serve the people Of my state and
my county. I have served no man
except what I conceived to be my duty
and the right. All these years have
labored under the burden Of debt. The
creditors as rule have been kind and
indulgent and considcrate. The busi-
ness has grown and has been conduct
ed with no commercial capital. We
have constantly added TO the equip
ment and today believe we have as
complete plant as any newspaper in a
country town in the state. have been
a poor collector. At one time charg-
ed Off the books between twelve and
fifteen thousand dollars In subscrip-
ton accounts that were due and which
have never been paid.
The plant which the company has
cost between twelve and fifteen thou
sand dollars. The debts are not near
that amount. Two Of the mortgage
creditors said during the fall that they
must have their money. made every
effort to shift the debt but could not.
Then I called a meeting Of the credi-
| tors and asked II they would cooper
ate with me and I would make every
effort to pay the debt. or at least re-
duce it until times improved, when we
might find a purchaser at something
near the cost Of the equipment and
thus be able to pay the amount due.
That II the property were forced on
the market now 1t would be dificult to
find a purchaser and 1t would not
bring enough to pay the debts and I
would have nothing left. But II they
must have their money they would
have to take the property. and in that
event was willing to turn 1t over and
save the cost Of lawsuit and such ex-
penses as attach. All of the creditors
seemed willing to cooperate except
one Of the mortgages and, Of course,
without unanimous agreement nothing
could be done. I realized that during
the past several weeks I was not get
ting out such a paper as I should, and
did not want to accept money on
subscriptions with the possibility Of
the paper being discontinued, and
knew the moment 1t was discontinued
its commercial value was decreased.
feel that have done everything
that could, and as there seemed no
prospect Of agreement, and to continue
| as we were was to do 80 at a loss, at
my request the holder Of the first
mortgage, the terms Of the mortgage
being broken, has authorized Mr.. w.
A. McSwain as its agent to take charge
Of the property covered by the mort
gage, and on Saturday night at 1880
o'clock he came in the once and took
charge Of the plant covered by the
mortgage held by the Carolina Life
Insurance company Of Columbia. And
this is not the creditor that was de-
manding payment. I was given per-
mission to use the plant to get out this
issue Of the Herald and News.
This Is a brief statement Of fact
which feel that I should make to my
friends in Newberry county. I have
no doubt but that the paper will be.
continued and all subscriptions made
good. II not some time in the future
will make them good.
| The Herald and News is one Of the
oldest newspaper In the state. 1t has
record back to the fifties Of the last
century. have been with It longer
continuously than any other one man,
except Mr.. H. M. Bareger, who has
been with the office since before the
war. We go out together. regret the
condition which makes this necessary,
but can't help 1t.
In March. 1887, Mr. w. P. Houseal
and I purchased the paper from Mr..
A. c. Jones. Seven years later bought
out Mr.. Houseal. Seven years later
formed the Ebert H.. Aull company
anw now the other seven years period
ends.
II the creditors had accepted my
proposition and had been willing to
give me their cooperation, as I re-
quested, when they said they had to
have their money, am satisfied under
the plan proposed we could have work.
ed the debts out and every one would
have gotten every dollar due. They
saw 1t otherwise and as am willing
to grant they are better business men
than I am, am making no protest
against the course they have taken.
| Personally I have no money and no
plans for the future. I shall rest few
weeks and await developments. To
those who have been good to me, and
must say they are more than / deserve,
1 express my grateful acknowledge
ments and hope their good will has not
been misplaced. To those who have
knocked and said unkind things have
no word Of censure but wish them
mighty well.
My hope had been that might be
able to round out my life as editor Of
| other and fiattering offers to leave
| Newberry but have always declined. 1t
seems that destiny has decreed that l
shall not have my wish gratified.
am making no complaint. II had
been a more exacting business man
possibly it would have been otherwise.
but have all my life been an E. 2.
mark.
The property Of the Ebert H. Aull
company today is worth several thous-
and dollars more than It owes but II
put on the market for a cash sale 1t
will bring several thousand dollars
less than 1t owes That Is the reason
tried to reason with the creditors and
get them to agree to some sort Of CO.
operation to bring the business through
these stressing times, but I could not
get them all to agree and Of course 1t
would have bee nof no avail to have
would have been Of no avail to have
not cooperating. And the creditors