Tabor City tribune., 1960-01-13
Cunnery Stock Sales Slow:
$14 200 Subscribed To Date

.erred stock sales in the propos-
ed Tabor City Cannery had
commitments for slightly more
than one third of the $4,000 re-
quired at noon Wednesday. Ex-
act stock purchases at that time
totalled Sl4,2OO.
Tally Eddings, executive
secretary of the Tabor City
Merchants Association, said
today that contrary to rumors,
this cannery will definitely
not locate in Tabor City un-
less the $4,000 worth of stock
is bought within the next ten
to IL days. He said the cam
merry would 60 to Spartan
burg, Charleston or somo
where else If local interest is
not sufficient.
On the other side of the pic
ture, the principals in the can
merry notified Eddings Tuesday
morning that they were now
ready to place the orders for
the canning equipment and that
Just as soon as they have been
assured that the stock will be
bought, that they will purchase
this equipment and start to work
on the building that will house
the equipment.
Eddings said that farmers and
businessmen have been enthu-
siastic about the cannery and
that the response has been ex-
cellent but that the number Of
shares being subscribed by in
dividuals is so small generally
that the goal of $4,000 is still
along way off. He did empha-
size, however, that a few busi-
nessmen have responded with
subscriptions in sufficient guam
tity to make the solicitation en-
couraging.
Both farmers and business
men agree that ti'S is the best
possible type industry for our
community and they feel that it
would be a disaster if we fail
to buy this stock" Eddings said.
This is six percent interest
bearing stock and a safe invest
ment in addition to securing for
us a much-needed industry"
OF the 200 worth of stock
that has been bought, $500
worth has been purchased by
farmers. The first share that
was bought was purchased by a
rural preacher in the Loris area
Monday morning.
EddlngS emphasized that this
cannery will not only serve the
local people but that il would be
tremendous economic service TO
farmers and businessmen in
both North and South Carolina.
1t would handle the raw mater
lals for farmers over wide
area and the money paid for
these products, along with the
huge payroll, would be of con-
Sequential assistance to all busi-
nessmen in the area.
Two important meetings will
be held tomorrow night (Thurs-
day) and a number of farmers
and farm families will then
have complete explanations of
the proposed cannery. One will
be held at the Sandy Plains
Community building and Edd-
ings has been invited to attend
that meeting and explain the
proposal. Those in attendance
will have the opportunity to
purchase some of the stock.
Another meeting will be held
at Green Sea at which time 9TH
er farmers will hear of the pro-
posal. Ben l.. Nesmith, Jr., of
the Waccamaw Bank and Trust
Company, and H. Z. Dorman.
Tabor City businessman, will at
tend the meeting and discuss the
cannery. Farmers in that area
may subscribe to stock at that
time If they SO desire.
Eddings pointed out that the
actual money is not being ac-
cepted now but that legal notes
are being signed that oblipates
the buyer to purchase the stock
by March 1, 1860.
Eddings also announced that
the production manager for the
cannery had informed the cam
merry principals that he is inter-
ested in the proposition and will
sign a contract to operate the
plant when they are sure that
1t will be constructed and put
into operation.
we have not pressured any,
one into buying this stock. We
do not feel that any pressure
should be necessary. This pro-
posal is so good that we cannot
afford not to accept II and this
stock should be bought quickly
and with a minimum Of diff
Guilty. These folks must have this
vote of confidence IL they come
to Tabor City with the cannery.
IL we don't want to show them
we are interested by putting up
(Continued on Pase fal