The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-08-25


wAsshouss equipment cost about s1:,.
7ke.Ao and there Ia owing ON this
,pFRpsrty $4,000. About ,2oo OF
y e3se WIN be paid ON, this indebted.
meas In next thirty days. 1t is esti.
mated that this property is worth
.eRqst $1%,ooe or $4,000. Besides
this company has about $1,000 OF
sreamry stock forfeited to the ware
house company by non rayment of
saplsal stock or partial payment OF
,steek.
\ When the warehouse was complet
"a IN June. s1sl4s the treasury lacked
chant Ss.soo saflicient to pay the con-
tsactors The City National Bank of
Aaater. advanced this amount on open
note on the authority OF the board
q directoys of the Farmers Tobacco
swershepss Company, to borrow this
-enoupt.
xhs stock was made payable In ten
monthly installments and many stock
eholdsrs were DELINQUENT in paying
their assessments.
spf 1sS shares subscribed for at
800 ,Der share totallps $4,000. only
about (l1,ooo was actually paid In.
The directors have appiiel the rem
eals 70 sutting down the indebtedn less
from .ea.soo to $40. and instead OF
'astsmpting to pay dividends reduced
the debt.
The ist cost $4,000 and was paid for
cash. no subsidy or bonus being
asked for from the business men or
Chamber Of Commerce of Sumter.
The capital stock of the Farmers
Tobacco Warehouse Company Is a
tangible asset that any stockholder
San see by looking at the lot. build
,t9Es., and equipment.
Any stockholder can find out at
any time anything he wishes to
knowaabont corporations affairs. The
pssrly $4,000 collected for the build
ing- OF q tobacco warehouse. In rem
tals and capital stock paid in. is still
-tn~existence and owned by stockhold-
srs rssrepresented by more values than
.oriGtnally invested In the shape of
a,plant worth more today than, II cost
IN 1914. The Farmers Tobacco
Warehouse Company is real live on
tsrprIse, perfectly solvent and able
to, get credit and pay its debts.
The Farmers Tobacco Warehouse
conpany's financial affairs have
been handled by nine Of the most
rsuccesssui, highly trusted, and hon
orabls busincS men of Sumter .coun-
ty as follows: President. G. A. lem
mon; Vice President. w. G.. Moses;
Treasurer. c.. G. Rowland.
Directors: @. A. !. Lennon. w. G.
Noses. c. G.. Rowland. H. ]. Hardy,
p, n. McCallum., s. A. -Harvin. p. M.
Pitts and to the time of their deaths
the lamsnted ]. II. Chandler and w.
H. Boyle. Every financial transaction
OF this company has been by the au-
,thority Of this board OF directors. TIL.
dsrectors fix the rental price. and au-
thosixe all moneys paid out. All
money is paid out by order of the
president or board of directors by
vouchers to, the treasurer approved
by the secretary The board of di-
rectors are entirely responsible for
the management OF the company's af-
fairs. The secretary. who serves like
other officers. without pay, is tho Gus
todian of the warehouse property and
with the president looks after the
property.
This warehouse has been of much
financial benefit to Sumter In the en-
couragement OF the tobacco indus
try. and the turning loose of about
SSo0.oo0 OF tobacco money on this
market. For sixty days every sum
mer between twenty and thirty tobac-
CO buyers. and warehouse employees
are brought to Sumter who spend
considerable money with hotels,
-soarding houses. and stores. automo-
bile dealers and auto deliveries, hard
ware. lumber. and other local bust
ness enterprises. Every stockholder
who holds on to his stock will get q
dividend when the property Is out OF
debt. I simply make this statement
In order that every ,stockhoider will
know whether to dispose of his stock
or not and to do so inteiligentiy.
The development OF the tobacco
market In Sumter depends upon
having tobacco warehouse. Sumter
can be- made to handle from three
to four million pounds OF tobacco. Il
The luaineaa man md hanka1a nil