The Anderson daily intelligencer. (Anderson, S.C.) 1914-1915, November 18, 1914, Image 1
LEARN FINANCIAL 1^^ HERE THURSDAY
VOLUME 1, NUMBER 366. Weekly, Established I860; Delly, Jan, lt, 1914. ANDERSON, S. C,WEDNESDAY MORNING? NOVEMBER 18, 1914. $5.00 PER ANNUM PRICE FIVE CENTS
SOUTH CAROLINIAN'S MILLION
BRINGS COTTON LOAN FUND
TO SUCCESSFUL CONCLUSION
Secretary of the Treasury McAdoo Announces
Completion of Plan to Furnish Aid to
Cotton Producers-Bernard M. Baruch, a
Former South Carolinian Subscribes Last
Million Dollars to the, Fund.
Federal Reserve Board Believes the Carrying Out
Of This plan Will Be Beneficial, Not Only in
Helping the Cotton and Foreign Exchange
Situations, But by Promoting the General
Prosperity of the Country.
MOST SERIOUS
EFFECTS PASSED
RESTORATION OF CREDIT
BALANCE WITH EUROPE
HAS EASED SITUATION
DEMAND FOR
FOOD SUPPLIES
(By Associated Pi*?.) Simmons of St Louis, for their ear- '
WASHINGTON, Nov. 17.-The conn- nest and effective work,
try wide effort to furnish aid to cot- "The success of this plan has at (BY A**??1?? Pres?.)
ton producers and find ? bottom for no time been in doubt, but its com- WASHINGTON. Nev, 17.-Officials
the cotton market came to a success- pletlon has been delayed hy thc self- of the various government depart
ful conclusion tonight when Secre- lish opposition of certain tertile man- menta in touch with the county's bu?
tay of the Treasury McAdoo announc- uf act ur ors and local interests who i ness activities feel confident that the
ed the completion of the $135,000,000 have tried Lo defeat it I am happy to most serious effects ot the European
cotton loan fund. In making his an- say, for the sake of- the country as war on American business have paas
nouncement Mr. McAdoo said the sue- well as for themselves, that they have ed. The restoration pf the credit
cess of the plan was assured. been unsuccessful. balance with Europe has greatly
The secretary's statement came at "The successful completion of this eased tbe situation. The increasing
the end of ii day. devoted to efforts to pli.i throws upon shy associates ot demand from Europe fer American
obtain subscriptions necessary to the federal reserve board and myself food supplies and also to the sudden
completa me $100,000,000 portion of added responsibilities and a large develonment of an abnormal trod* in
the fund M?IMH ^ l-=?2 ic ncr. riscpi cf ~ JT*. It ?S u^our artlcloa needed by the huge armies,
orton producing Stoles Mr. McAdoo. orGcial duties. We are already burden- JJ the fte," *d, tQ that ?
and members of the f?d?ral reserve ed with many difficult problems but ^0 aecartte *,'u1-?s on thc contracts '
board in active charge of th* pool wc bar* regarded the organisation or of*;hft i?ttor Character ar? obtainable ?
pian, took active Steps to gather in thia cotton loas fund jost as we did ?^J^ff^^^S^^)
the remamingSull ohs the gold fund and ita proper adminls- jT' ?T erJ??1r!.0hGJZi?? I
Kuhn Loeb & Co vit New York sub- trallon, as a patriotic service and have *lot^*'J^hle" .** th* "ke aaT
scribed $?000 000 " York, sub? fcU .obUged therefore to r8Bpond to ^ flooded factories and ?tockmen in
scribed $?.000.000. call that ha8 bsen made u ub wme oj.tricta. It ls said that includ
At a luncheon given by John Skel- ?We beiieve tho carrying oitt of ,n8 all munition orders, this business
ton Williams, Bernard M. Baruch, of tnls, pian wln ^ beneficial, not only reaches the huge total of over 200,- i
New York, said that ho might invest ,n neiplng the cotton situation and 000,000 of dollars. In several Unes
In the fund up to $1,500,000. Hisi of- tho foreign exchange situation but al- factories are ?training to highest ca- ?
for was taken to the estent of ,$1,000,- HO by prcnict?ng tbs general prosper- parity io meet the demands.
000 ana tne rund completedV A few uy of the countiy whlcl^now has such Other? factors which have aided in1
hours after Mr. BartiCb s offer word a happy Impulse that lt would be clearing up the situation are the open
was received from several banks that difficult to r?tard it. It is a pleasure m?r of th? 'edera! reserve bank sys
^.t^M?nnTh?? li? ?Tu?nT to test??y to t?i? iwirionam-and broad- tera, upon which business experts look,
?? L?2?JS??S Am it atanii^ tS^n?rt Handedness of the banks and bankers ^ the backbone of the country's r?
is oversubacr oed about $300,000. secretary of the treasury and the fed- Canal whlch ha8 aiready Increased
In announcing tte completion of the eral reserve board in the organization fl:e,ght trWBc to the wes t coast of
an?.gra^flded?t?bV able to an- ?' ^ ' _ AT?T fA T.T'Z ?f
noonee the success of the cotton loan The gentlemen referred to In the ar- ??^^?dir *tnePB emer
fund. Subscriptions for the entire tide aa being from South Carolina ^W^J ^IJL !.?#*. i?? ?l^fo?
$100,000,000 of class A certificates was originally from Camden and at g!ency law pMMd at tne laat 8?fl8loQ
were completed this afternoon. This one time practiced medicine In that or^on,f^***:. .. ~ .
assures the soccess o? the plan. To city. He has a number of friends In ?* "ie B??PPln8 situaUon officials
such extent aa banks i.i the Southern Anderson. Bald WV ?ere was a growing scar
Statos subscribe to class B certificates -- clty ?* oornera for American export
the $100,000000 realised from the Will Not Subscribe. commerce because the bulk of that
clasa A certificates will be available SAVANNAH, Qa., Nov. 17.-Officials traffic waa Increasing so steadily,
for loans on cotton at six cents a of the Savannah Clearing House As- Freight rates have risen remarkably
pound. Full details of the plan have soclation announced tonight that lo- end It waa said shipping companies,
been published and it ls not neces- ca] banks had decided not to subscribe were no wselectlng their cargoes with
sary to' repeat them here. to the plan $1 SF ,000,000 cotton loan the greatest care, avoiding all arti
"Thc full amount of subscriptions fund, which has been organised un- clea ot even a semKccntraband navure. I
to clasa A certificates made by banks dor the direction of the federal re- Huge shipments of grain are awaiting;
in non-cotton states amounted to $$7,- serve board. transportation at many ports. It ap
292,000. Tho succ?s ot the plan waa No reason for the action was given, pears probable this condition will, re
conditioned upon the subscription ot other than that lt waa believed the suit in renewed activity in behalf of
the full amount of $100,000,000 of these ptah waa not satisfactory- The de?la- the administration federal merchant
certificates. In order to make up the ion. followed an Investigation by a marino bill when congress reassem
deficlency of $3.000.000 Messrs. Kuhn special committee. The proposal, aa ?Usa ncs* -aonth although the new
ifSLUP0" fSSLsL^ subscribed originally torautotsd provtdsd for compiexlon of .'the house of represen
55.000.000 and Bernald M. Baruca of the subscript'on ot $2,500,000 here. toti^ whare the Democratic contrcl
I0?LSL7V^^^^m^^ ~-=~ by a narrow margin, makes the re
vfX7^r^n?^^^B c Does Not Concern ^'i^? T T
p The following is a ?at ot the ettie. The United States K^rU??J^1" 1 by
and the amount* enbscribed to the ine UnTOa 0iaVC* Democrats.
New York City- $50,000.000. Bv T^ZtedT^ai.) to Qr*m4
Baltimore- $2,500,000. WASHINGTON, Nov. 17.-Questions ^ONTOOMBB-Y, Ala., Nov. 17.T-M.
Boston- i*,0S5,0O0. of neutrality of South American B- Campbell, former head bookkeeper
Chicago- $13,000.000. countrioa do not concern the United ot the Ftrat National Bank of Ulta
Detroit- $1,08*000, States in a strict sense. President ?ty, today waa held to the f?d?rai
Cincinnati. Willson declared! today. Ha expressed ST* under bond of $10.000 by
Cleveland. the hope that Assurances of nintrali- knited atates Commissioner J. A. El
Kansas City. ?S.W.OOO. gjytjn ny s^uado1- and Colombia raore. The chare was "making a false
??!??.|l,?ttffl^ would bs sufficient to aatlafy Oreat ?try On ttabooks of the bank with
Pi!n^?, ~%? aaa ooo' Brit?ln *?d France.- which contend tho ??tent to defraud or deceive." Camp
?? ^? Oernian fleets have been receiving aid ^VT****T!"1 Mo?^ni?l?.chftrB"
Schmc5d-? SU2WK?0. from ports of those natlona. od with a soortage ot $58,550.82.
lln^ciacc^?.oco. ?2,000,000 Fire Loss Purchases Florida
?B?. at Galveston, Texas Ce.^al Railroad
Kuhn, Loeb & Od,- 12.000,000. _
Bernard M. Baruch, New York - - -
$1,000,000. . GALVESTON, Texas, Nov. IT.-The (dy A??H?tod Frew.)
"It waa coi possible to announce lo- Sunset Elevator and more than 800*- WILMINGTON, N. CV. Nov. 17.-Ap
day tho sanies of the subscribers to OOO bushels ot wheat stored In the parently authentic reporta were In
the fund la each of the cttiee,** the bunding Were desroyod by fire here circulation here tonight to the effect
statement acid, "hut it may be said today. The loas is ?ptlmaied at $2.- that the Atlantic Coast Lino Railroad
that among the largest subscribers ta 000.000. The elevator was ow.\*d by company had purchased the Florida
if New York city ara Messrs. J. P. the Southern Pacific Railroad Com- Central Hal Hoad.
Morgan1 A io., the National City Bank pany and was under laaas to the J. President john R. Kenly. of the At
ibe Chase National Bank..sud others Rocenbaum Grain Company of Chica- lantic Coast Une. who attended sv
whose nam ea may, with their pereda- go. k^ meeting of the stockholders at Rlch
sion, be given as soon as tba complete Ona fireman war? seriously injured mond. Va, today could not be reach
?lsts ara supplied. The only backs In and several others wtve alightly hurt, ed tonight fur confirmation or denial
the city ot Boston subscribing to fha-.- of the transaction.
fund are tho National Shawmst Bank, .. 8,000 Servisse Captured. The Florida Centro', extends from
the Fourth Ai?atUic Hationat Bank, WASHINGTON. Nov. 17.-Capturo Fanlew. Fla., to Tbumasrllle. Ga, a
the Webster and Atlas National Bank of ?OOO Servians *J tits Austrian ai*- distance of 47 mlvtsr It would give
and Um Fc?eral Trust Company, my during tba occupation of.ValJevo the Atlantic Coas7. Line a link in i?a
Great credit ah/JUb? bc gtvoo tc Mas- was announced today' In an official propc*ai? ?h?H? route fren: suborn
sra restos J. Wad-d and George W.'diapatch to the Austrian embassy. . Florida to the Mississippi Valley.
Factories Are Straining to High
est Capacity to Meet the De
mands.
Kaiser's Minister of Foreign A ff airs]
The kaiser's, minister of foreign | mann -Holl WOK. has been chary of his
affairs, von Jagon. tl\" man who had ? photographs. This is the first recent
as much to do with bringing Belgium ! one for which' he han posed that has
and England into the war against come out of Germany since the war
Germany aa did J Chancellor Beth- began.
KEEP BMG
AI ALLIED LINES
BIG BATTLE DEVELOPING
BETWEEN VISTULA AND
I WARTA RIVERS
BUILDING WORKS
TO CHECK FLOOD
British Government to Raise Loan
of $1,750,000 for W*r Pur
poses.
PF&P.F Pl m
uiub I killi *# '
ARE THREATENED
GEN. OBREGON SAYS GEN.
GUTIERREZ HAS CHANG
ED HiS MIND
WAS NOT DUE TO
LACK OF HONOR
Villa Advance Guards Have Been
Driven Back After a Sharp
. Skirmish.
(By Associ?t r<i Pr??0
LONDON. Nov/ 17.-Undeterred . by
wintry neather and floods, the Ger
mans are still striving to break down
the Allies' defense elong the Franco
Belgian frontier. Although the Berlin
official report says the day was quiet
there has been sn almost continuous
artillery duel, with occasional infan
try attacks, but apparently ? without
either side making progresa
The line from the coast to Nleu
pbrt, which has hean receiving less
attention since the Germana Legan
trying to force the British out of Yp
res, again has been subjected to a
violent bombardment. South ot Dix
u???.de the Germana have been trying,
under fire from the Allies' cannan, to
build works to check the flood which
compelled them to evacuate part of
their trenches.
At other points the big guns have
bees, bnsy, and Rheims has been sub
jected to another rain of shells.
From the Aides point ot view prob
ably the most Important operations
are those south nf Vnrdnn. where the
French troops for some time have
been trying further to relieve the
pressure which the Germans have
been exerting on the.fortress. They at
last' have- succeeded, according to the
French official communication,' and
besides making some progress on tho
heights of the Meuse, hsve advanced
on St Mlhiel. the only point on the
i lett bank of tho Meuse which the Ger
mans have held.
Another big battle is developing in
Poland between the Vistula and Warta
rivera, where the Russian advance has
been met by large forces of Germana
coming from Thorn. The German plan
apparently ls to attack the Russian
canter ?nd draw their wings- tram
Bast Prussia and Cracow. In the for
mer region the Russians report a
further advance, but they l-<tf>t not
been able to dislodge the Germans
from the passages o? the Masurian
Lakes.
In Galicia Emperor Ntchatas' troops
are driving the Austrians southward
and westward and have engaged the
rear gu? eds at Dpkla, at the foot of
the Carpathian rwuntalns.
Th? Servians and Montenegrins ron
tlruo to fall back before larger Aus
trian forces. It is str.tcd from Vienna
(By Ajsoriatrd Preta.)
MEXICO CITY, Nov. 17.-Peace
plans in Mexico again are threatened
with failure, according to a statement
here today by General Alvaro Ob re
gen, who declared Eulalie Ouetierroz,
named provisional president by the
Aguas Calientes convention, had
changed his mind and rejected Gen
eral Carran ra's latent proposals.
General Obregon today assumed
command of. the capital and federal
district "Just when we believed arm
ed strife would bo avoided," Obregon
said. "Gutierre.- changed his mind. I
do not believe this waa due to lack of
honor on. Guterres's part, but to pres
sure by Francisco Villa"
A number ot foreign factory owners
in the federal district have made com
plaint to their respective legations
concerning alleged forced loans Im
posed by Zapata followers under Gen
eral Navarro, whose activities have
resultad in a strengthening of the en
tire Constitutionalist line.
Word was received here today from
the governor or the H ta te of Guana
juato that the Villa advance guards
had been driven back after a sharp
skirmish south of Lagos.
(Continued on Page 8.)
Begras Aggressive Movement.
EL PASO. Twas, Noy. 17.-General
Vlila'a troops i?c .o begun an aggres
sive movement against the Carrara
forces, disregarding further attempts
to adjust the disagreement of the Con
stitutionalist factions. ThU was re
ported today In press telegrams and
official messages from Aguas Calien
tes.
The convention troops took with
out opposition the town, of I?con, it
was reported. Later advices rumor
ed the occupation of QuereUtro. Car
rin ra's proposition that he and Villa
exile themselves from Mexico ar : go
to Havana on November 25 was re
garded by local Villa officiais merely
as a final attempt to delay attack
from the division of the north.
? A communication received today b>
Carranza, officials from Rafael Zu
bcran Capra any, the Constitutional's
agent at Washington, called on
loyal elements to assist lu waging
(Continued on page 6.)
A FUTURE CLEAR AND
BRIGHT, WITH PROMISE
OF THE BEST THINGS
Fondamental Wrongs Once Righted as They
May Now Easily and Quickly Be. All Dif
ferences Will Clear Away, Says President
Wilson In Letter to Secretary McAdoo
Congratulating Him Upon Opening of Banks
The Future Will Be Different From the Past; Dif
ferent in Action and Different in Spirit; Differ*
ent in a Time of Healing Because a Time ot3
Just Dealing and Co-operation Between Men
Made Equal Before the Law in Fact as Well as
In Name.
<n>- Ai?oriat*d Pre?.) brought her business IdeaU Into
WASHINGTON. Nov. 17.-"A future qQost,orit condemned her social stan
clear and bright, with promise of the dttrdiit denled tne honegt of her g?
be ter things." wa. the way President of ^ the IntegrIt ' ot her ?E
Wilson summed up his view of tho nomlc processes, & morality and
bu=mesH prospect tonight in a lefter ^ falth of m of the 'tbJ
to Secretary McAdoo of the treasury which her Uw 8UBtained.
department, congratulating him upon who nad er| whether m buB|heta
the opening of the new federal re- or ln poUtlca( were aim0Bt universal
serve bank system. ,y lpoked utK)n wlta Bagplc,on and
"Fundamental wrong once righted little attempt was made to distinguish
as they may uow easily and Quickly the Just from the unjust They, in
be," ^rote the president "all differ- their turn, seemed to distrust the
enees will, clear away. We are all In people and to wish to limit their
tbs same boat though apparently we control. There was aa ominous an
ted 5cT---ti-~ it V.'c T.Z~ ?n;ov tl.?, iagouHjm oetween classes. Capitol
port for which vre are bound. Wc and labor were in sharp conflict
have, and shall have more and more without prospect of accommodation
as dur new understandings ripen, a between them., Interests harshly
common discipline of patriotic pur- clashed which should have cooperat
pose. We shall advance, and ad? ed.
vance together, with a new spirit nt ..Tnl5 waa not me^iy ^ WOrk Of
new enthusiasm, a new cordiality ot j irresponsible agitators. There wera
spirited cooperation. It is an in-1 real wrongs which cried ont to ba
spiring prospect righted, and fearless men had called
Mr. Wilson referred to the new attention to them, demanding that'
tariff law, thc new.currency law, the they be dealt with, by law. We were
new trade commission ?aw and tho tiring under a tariff which had heed
labor provisions of the new anti-trust purposely contrived to confer private
law as the means through which "the favors upon those who were cooper- ?
soil hos everywhere been laid bare atlng to keep the party that orlginat
out of which monopoly is slowly to ed lt in power; and in that alt too
be eradicated." He added that "un- fertile soil all the bad. interior
doubtedly the means by which credit growth and jungle of monopoly had
has been set free ls at the heart ol sprung up. Credit, the very life of
all these things; is the key piece of trade, the very sir men must breath*
the whole structure." if they would meet their opportun!?
referring to the opportuneness of ties, was too largely In the control of -
the currency law, the president said : the same small groups who had
"The war which has Involved the planted and cultivated monopoly. The
whole of the heart of Europe has control of all big bushiest, and of
made it necessary that the United all little business, too, waa for the
States should mobilize Its resources roost part potentially, it not actually,
In the most effective way possible." in their hands.
He spoke of the dlfllculty in market- "And the thing stood so tttttll the
lng tho cotton crop of the country Democratic party came into power
and added that "no doubt in the light iMt y^-. The legislation cf the past
ot the new day with its new under- year and a haW has, in very ; large
standings, tho problems of the rsll- niessnre, done away with these
roads will s!so be met and dealt thing*. With their correction, - soe
with In a spirit cf candor and Jus- plclon and in.wjii wm paM ?wuy.
Uce." . . ?ror not only have these things been
The president's letter, which waa righted, but new things have bean
in reply to one from Secretary Mc- pat tato ^tion. which are sure to
Adoo, announcing the opening of the pr0ve the Instruments of a new life,
reserve banks, said: in which the mists and Estompera
"My Dear Mr. Secretary: I warm- which have embarrassed aa will
ly appreciate your letter of yesterday, ^ cleared away; the wrongs and
for I shsre your feeling entirely misunderstandings corrected . which
about the significance of the opening haVe brought distrust upon so many
of the federal reserve banks for bus- honest men unjustly. That ta th?
iness. , , main ground of my own satisfaction
v/rp? ? phVTn 'the Sab? a T?f t?ftr?n^th^fav^red
we^hdl?v,8hno7e soBr.c?hf Tn U VF^iJS^STi
The laboTsn? 'fori- rL^t?^o??
?2^J?l^^rt!^^ c?e".thwlthrtheCr?e?ct niu?
who~nav.~*cor?;rate^"wTtn Tnuau?? . ^t^^ m^?S??TV *Zm
wisdom and admirable public spirit ^TSl ^?JS^SFl rUn
None of them. I am sure, will be "f^mJ'J* S'rS^T!^^
jealous of Gie distribotion of the .?}. X,?*?^?? rJ,n
Praise for the great piece of legisla- ..?'. * ^?.J^l^^^^S
lion upon which the new system ******* W*?* ^iS^Tn
rests; they will only rejoice unsel- and opprwtive^praotU^ In
flVhly to see tho thing sccompllshed f?^?? ^Jr^3ui?^S??
upon which they bsd set their hearts. p??>or has o?*? J?3SfT?JJ?
"It has been accompllsh-d, and its ?? ** ??ow ?J^Jftw th^JKE
; accomplishment ls of tho df.epe-t merraiUile ^ commodity. _ wm^lng
' signlhcsnce, both because of the h?man and linked wUh theJrtvitajeee
, things lt baa done away with and of life itself. The soil has erery
becsuse of the things it has supplied ?*rJ??J|f *?
that the country lacked and bad long ? to, *Vwl? 06 er?d,^tt*. ^**Z
needed. It haa dono awav with agi- *0}ib**}* ?oans hy walch credit
tallon and suspicion, because it hss *>*. *tS ,
done away with certain fundamental the*f **In**' *? th> *oypleea ot tba
wrongs. It ba* supplied means ot w??2i?1*t,?ict*re" * . ,
eccoramodation In the business Tula ls the more etgntflcant be
worid ead an Instrumentality by ca?o?^o? 1U opportuneness. It is
which the interests of all, without brou*ht .*0 ?ta ?n?l aoeotnplishiasat
regard to elaes. may readily be serv- ? lt ?B moat hnperaUvely aeea
ed od. The war which has involved the
"Wie have only to look back ten wbo,e heart of Europa has made lt
years or sc to resits* the iacp per- ooceasary that the United Staten
Blextties and dangerous ill-humors should moboiUxe ita rsaourcas ?a the
out of which we have now st last ta- woet effectlvo way possible, sud
'sued, as it trtm a bewildering fog. a ?naka her cr?ait, and har ?H?fu1ceaa
roxlous miasma. Ten or twslve years *??o tor the service -nt .the whole
sgo the country waa torn and excit- world. It bas created. ?Od,, special
ed by an agitation which shook the - ,. ... , ._,
very foundations of ber puHtlcal life,! (Continued Qa; Pagf gojuA