MILLIONAIRES NOW .
PLENTIFUL IN U. S.
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If You Don’t Read
The Clinton Chronicle
You Don’t Get The
NEWS
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CLINTON, S. C., THURSDAY, OCTOBER 23rd, 1919
NUMBER 41
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Shipment of Mttlion Bales Contem
plated. Would Adranee Price.
Arrangements are now being made,
for the handling in foreign countries
of a tremendous volume of low grade
cotton, possibly as much as 1,000,0( 0
bales, according to a statement Issued
the other day by J. Skottome Wanna-
maker, president of the American cot
ton association. IMr. Wannamaker
said that he had, been asked by the
parties who are interested tn the plans
to appear with them before congres
sional committee on the matter.
The prediction is made by Mr. Wan
namaker that if the arrangements can
be perfected for the shipment of this
cotton abroad, it will bring the price
of cotton up at least eight or ten
cents a pound. It may take some time
to work out the details of the plans,
he said, but Jie thinks that the obsta
cles can all be removed and a way
provided for the exportation of the
cotton.
“If these arrangements go through,”
said Mr. Wannamaker, “it will remove
from America in all probability the
largest amount of low grade cotton
that has ever been handled under one
transaction. Large bankers and for
eign manufacturers Interested in this
proposition will meet in consultation
at the world cotton Conference in
New Orleans next week and I under
stand it is their purpose to lay the en
tire matter before the leading financ
iers of America for the purpose of ar
ranging financial credits. The out
look for handling this cotton is ex-
trenftely bright. If the proposition goes
through it will result in a tremendous
risfe in the price of cotton.
“I have a letter today from one of
the leading cotton men interested in
the proposition. He sasy that it is of
course an enormous proposition and
that there is a great deal of red tape
to overcome. If, however, it can be
successfully handled it will bring the
price of cotton up at least eight or
ten cents a pound. The Interest of
the American Cotton association is
soUftUed on account of the fact tUaC
SHANTUNG AMENDMENT
VOTED ON THIS WEEK
with orders which could not be taken
care of by the large concerns in the
they expect to name a minimum price,«| estab ]i 8h ed trade channels, so while
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also an acreage to be planted, based
upon supply and demand. • It will take
some time to work out the details of
Vj the proposition, but, if successful, the
ft.
result will have a marked stimulating
effect upon prices.”
Mr. Wannamaker left Saturday for
New Orleans to attend the world cot
ton conference. He will deliver an
address before the confernce on the
subject, “It is Necessary That the
Producer Should Receive a Profitable
Price for His Cotton.” He is chair
man of one of the big committees of
the conference.
Regarding the price of cotton, Mr.
Wannamaker said that a special com
mission of the leading spinners of the
world has been appointed to handle
the question at the conference. “There
can be no qliestion," continued Mr.
Wannamaker, “that the price will
higher than that since the War Be
tween ihe States. The price must be
based on supply and demand, the
price of the manufactured product and
the cost of production. It will require
a price of not less tlian 50 cents per
pound to increase the yield of Ameri
can cotton. Unless the commission
supplies, price and distribution
on
reaches a joint decision around this
basis there will be a minority report”
Mr. Wannamaker said that the most
encouraging reports regarding the
progress of the organization of the
American Cotton association were
coming in from over the belt. Organ
ization is under way in every state.
North Carolina, he says, will have
100,000 members. He is anxious that
the campaign in South Carolina con
tinue with full speed ahead in order
that., every farmer, merchant, banker
and professional man may be enrolled
in the membership of the association.
BERLIN RACING SEVERE WINTER.
Little or No Coal AvalaMe at Pres
ent. People to Suffer.
\Berlin, Sept. 14.—'Berlin feces a,
winter with little or no coA and con
sequent freezing conditions, lack of
electricity, gas and lighting and in ad
dition, a shortage of dwellings.
Up to now the government has in
most cases contented itself iwith ap
pealing to house owners who have
more than enough room to volunteer
some space to those witout' shelter.
The replies have been exceedingly few,
and those in power are seriously con
sidering an adaptation of the system
in vogue dn Budapest and Munich
during the soviet regimes.
A Berlin magistrate has ordered all
So Many Were Made Wealthy Over
night that Millionaires Cannot be
Counted.
The recent observation of a distin
guished British financial expert that
America is fast becoming a nation of
obscure millionaires is not as face
tious as it appears at first glance, says
an exchange. During the last five
years thousands of Americans have
become millionaires. Just haw many
it is difficult to say, but conservative
estimates place the number between
iF,(Hjrai<r2o;oofi:—;— —;—
(Naturally oiily a comparative small
number of so-called war millionaires
-^fhen who made fortunes in inunP
tions and supplies related in one way
or another to the war—are known to
the general public. The vast majori
ty of Americans who have amassed
wealth suddenly as a result of the
most amazing prosperity the country
has ever experienced are unknown ex
cept to their most intimate friends.
Although known to fortune, they are
to fame unknown. Consequently, they
may be spoken of as America’s ob
scure millionaires.
Who are these unknown million
aires? If there are between 15,000
and 20,000 of them, surely there is
some clue as to their identity. In
these days when profiteering and the
improper distribution of wealth are
among the most important topics of
discussion an answer to this question
is really vital.
“Of the millionaires that have been
created since the start of the world
war in 1914, it is not fair to assume
a very great percentage of profiteers,”
said A. M. Andrews, a prominent in
vestment banker of New York.
“Many men had their wealth literally
forced on them. Men, who perhaps
had hoped to accumulate as much as
$100,000 during their lifetime have
gone pist this mark without recogniz
ing it ^r remembering they had it
until they found themgelyes^. ln jh_e
millionaire class. They were flooded
Anotlier Teat of Strength in the Sen
ate on German ,Peace Treaty is Ex
pected. “Speeding Up” Program
will Probably be Inaugurated Wed
nesday.
Washington, Oct 13.—Imminence of
another test of strength in the senate
controversy over the German peace
treaty overtops in interest and impor
tance all matters likely o come before
congress this week. Leaders in the
treaty fight regard a vote on the Shan
tung amendments to the pact late this
week as assured, and hope that within
ten days all other amendments can be
disposed of.
Debate-on the Shantung' amend
ments will be continued tomorrow by
Senator Lodge of Massachusetts, chair
man of the foreign relations commit
tee and author’of the pending amend
ments. Reading of the trekty text
will be continued and by Wednesday
it is hoped to conclude the formal
reading and proceed to vote on the
Shantung section.
To expedite the treaty consideration,
republican and democratic leaders are
negotiating for an agreement for an
earlier hour and also for interrupted
consideration of the document. It is
aimed to inaugurate this new “speed
ing up” program Wednesday.
The house will consider compara
tively minor measures this week, in
cluding disposition of the bill for vo-
many men ' and ' many concerns,
wealthy and prosperous before the
war, have accumulated a surplus of
100 per cent during the past five years,
the small manufacturer has become
the equal in wealth of his former
leaders and has perhaps added several
thousand per cent, to his original sur
plus and capital.
“We have seen the small investor
make many thousand per cent, on his
securities, bought for income purpos
es, because he happened to own shares
in a small rather than a large cor
poration.
the war companies, most of them in
process of dissolution or entirely dis
solved, out of their spacious quarters
which they had enjoyed for the period
of the war to provide places for those
who have no homes.
Neukoelin, a suburb of Berlin, has
attempted to help solve the situation
by building emergency houses.
Another suburb, Grenau, proposes
to confiscate the dwelljngs of bach
elors and put families in them, though
it is not stated what would be done
with the bachelors. Other suburbs
plan to confiscate, for the winter at
least, the homes of summer guests
that stand empty all winer, and fill
them with the homeless. One suburb
has already taken this step.
The city of Berlin has erected in the
Tempelhofer Chaussee district a mod
el house of clay, and will duplicate
them en masse if it is found that they
are practicable. The dwelling authori
ties plan the erection, as soon as pos
sible, of 5,500 permaneat residences of
a modest character.
The dwelling authorities plan one
and two family houses with garden,
and larger family houses with a num
ber of apartments, and a tiny garden
to each dwelling.
Average building costs are estimat
ed conservatively at four and one-half
times the peace rate.
The government has already ob
tained control of some 7,000 empty
stores,, garrets, work plants, barracks
and temporary structures to shelter
those in pressing need. A total of 20,-
000,000 marks has thus far been voted
raised for these emergency raeas-
or
ures
Swarms o* people from the occupied
territories are arriving in Berlin, in
breasing the need faster than meas
ures can be taken to alleviate It. The
dwelling association issues warnings
repeatedly against the influx into Ber
lin, but without much effect.
cational education bf persons Injured
in industry and that to establish the
federal budget system. Final action
on the ouster proceedings against
Representative Victor Berger, the
Wisconsin socialist, is planned Fri
day by the house elections committee.
Following disposal of the Shantung
amendments to the treaty, senate lead
ers plan to take up the “six to one”
amendment of Senator Johnson of Cal-
return
ifomia, who is expected to
Tuesday from his western speaking
trip. Leaders of both parties in sen
ate agree that the vote on Senator
Johnson’s proposal aimed to equalize
British and American voting strength
in the league of nations, will be very
close. -Several daya. it~4s—expected,
will be spent in debate on the amend-
iiicnt, — .-j i.iw ——-i .i".i
By the time amendments to the trea
ty are disposed of and reservations
come up for action, democratic lead
ers hope President Wilson will have
to allow the holding of conferences,
recovered sufficiently from his illness
The bulk of the democrats still are de
clared by party leaders to he solidly
against the republican reservations,
while continued progref j toward com
plete agreement of the republicans on
the reservations is reported.
In connection with the peace treaty,
action is planned this week on the
resolution of Senator King, democrat
of Utah, proposing a senate declara
tion in favor of awarding of western
Thrace to GreecT instead of Bulgaria.
The foreign relations sub committee
considering proposals to aid the Ar
menians is expected to report this
week.
Of the legislation before congress,
t)wo important measures are due for
early transmittal, probably tomorrow,
to President Wilson—the bills for en
forcement of war-time and constitu
tional prohibition and to penalize pro
fiteering in food and clothing. The
measure increasing postal employes’
salaries is nearing completion in con
ference.
Grove’s Tasteless chill Tonic
restores vitality aod energy by purifying and •»
rtchlng the blood. You can soon feel He Stronsth*
ening,' Invigorating Effect. Price 60c.
INSTRUMENTS which have
i* earned their—position of
leadership, having satisfied in
turn the finest mechanical ex
perts, the most exacting
artists, the most representa
tive critics in the whole realm
of music.
O’DANIEL & REID
lira. PAorron.
PA.
iii'Miiiiirij'.riiiiiitiii!iiiiiiiiiiiiiiiiiifiiiiiMiiimniiiiimn!i
a
A Foreword About Clothes
We believe it our duty to come out point blank with the
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unadulterated truth about Men’s and Young
Men’s Clothing conditions this Fall.
^ .*■ £ «,
Sheep’s wool was never higher.
Talented Labor never received a fatter pay en
velope. ' *
All clothing will soon be much higher.
'n
Linings, trimmings, hair cloth, padding and
everything else that goes into the manufacture of a
man’s suit or coat either commands a high price or
carries a low standard of quality. _
Today the man about to buy new clothes has
only two choices:
Either he must pay a fair price for a good arti
cle at a reliable store or suffer the after effects of an
unsound “bargan” that is as unsafe an invesment as
dabling in a salted gold mine.
Speaking for ourselves and in guidance of our
customers we want to go on record by saying that
this institution will continue to be the home of quality
and value,'and that now or in the future there is, or
will be, no danger of our deserting those high stands
ardsfof woolens and workmanship that the people of
Laurens County look to us to uphold in the clothes
we sell.
Copyright 1919,HartSchaffnericMarx
WHARTON CLOTHING COMPANY
CASH CLOTHIERS ‘ “SUITS ME”
Layrens, S. C. - , - - , Greenwood, S. C.
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