The watchman and southron. (Sumter, S.C.) 1881-1930, July 26, 1922, Image 1
THE STJMTER WATCHMAN, Esta
CONSOLIDATED AUG, 2,1
THE FEAR OF
COAL FAMINE
J GROWS STRONG
Secretary Hoover
Formulating Plan
. lo Divert Fuel to Es
? sential Industries
? Washington, July 20?^Develop
ment of plans for stretching out
the. nation's coal supply, now
"dwindling under continued impact
. of ;the mine and rail strikes, was the
immediate concern today of federal
* officials acting in the industrial sit- j
nation. Secretary Hoover an- j
nounced that within a day or two
the interstate commerce commis
sion and the commerce depart
" ment would put into operation a!
scheme of diverting to. essential
transportation lines the coal com
ing from non-union mines and
those that may be opened up in
tinion territory, by use of priority
orders, governing transportation.
$he object will be the maintenance
. of'the transportation machine.
"Next in order for coal supply
from the diminished output, it was
indicated, would be the Northern t
Great Lake ports and should it
"be found impossible to avert a
s}iortage,\ the coal distribution
plan might be expanded to be
come a complete rationing of sup
plies to other industries and ter
ritories as their necessities might
appear.
Attorney General Daugherty
commented in connection with this
? plan that the strike disruptions
had already made it certain that
there would be a coal shortage
next winter.
Replies of governor^ to President
Harding's invitation that they
guarantee protection to mine oper
v ation in spite of strike continua
tion continued to come to the
White House.
Governor Groesbeck of Michigan
outlined plans for opening mines
* there under state control with fed
eral .. sanction, but comment was
"withheld.
/'In connection with a message
- from. Governor Morrison of North
Carolina questioning the president's
policy in asking that the mines
be opened even. if force ~ was nec
essarv to protect workers, " high
**a*mini8tration officials pointed out
that responsibility for coal pro
duction in that state was small.
Report? to government depart
ments indicated that while trains}
are still being withdrawn by rail
roads, the movement of the mails
? and likewise of all necessities of life
? continuing throughout the coun
try. Mail cars are being attached
to trains still kept running, with
motor trucks in readiness to sup
plement this service.
Secretary Hoover in discussing
the. possibility of coal rationing to
* day indicated that imports of coal
from abroad might h?lp tne. sit
uation, particularly in New Eng
land, where the pom are equip
" ped for unloading coal from
ships. He pointed out that a con
siderable number of cargoes had
"been coming to Atlantic harbors
from England since the American
. strike began.
Prices for bituminous, it was
said, have risen to leveis higher
thaii those set by voluntary agree
ment between the non-union pro
ducers and the commerce depart
ment -some weeks ago. Unofficial
reports from the West Virginia
coal fields, where the bulk of East
- era non-union coal ha3 been pro
duced indicated a steady decrease
ir: production, due to railroad ser- J
vice disabilities.
Officials considered it significant
evidence of the relationship between
the coal and railroad strikes that
clerks and freight handlers on the
Chesapeake & Ohio and the Nor
" folk & Western roads should be
called out since these two roads
. serve the greater non-union coal
fields. Some West Virginia mines
have not had more than a day's
supply of coal cars in the four
. working days of the present week.
John L. Lewis, president of the
United Mine Workers, today trans
ferred the union's temporary coal
strike headouarters to New York
but left here reiterating the deter
mination of the union miners' lead
ers to carry on the stoppage of the
industry until they obtained suc
* ces~fu! vregctmtlons for a satisfac
tory wage scale on a national ba
sis. ?"M
Up to the time of his leaving, i
* attempts of Ohio coal operators, i
who are willing to grant the union J
demands, to secure association;
with them of enough operators in
ether states to satisfy the union's'
requirement were unsuccessful, j
Since last Saturday, when thel
union chiefs refused ^the govern
ment's arbitration offer, there has
been no communication between
* them and the government though
Mr. Lewis has been continuously at I
hand.
Attorney General Daugberfy in
discussing the rail strike took oc-1
* casion to renew the statement that I
while department of justice agents]
, would make sure that the laws were
obeyed, there was no disposition
to interfere with lawful union ac
tivities. New. outbreaks of rail
road disturb*nee.; in Montana and
Idaho were reported to him. Mr.
^"Daugberty said, but at Dennison. J
Texas, and Rocky Mount. X. C, i
conditions had become safisfac- !
ton'.
Effects of industrial disorder had j
been noticed in a slowing up of j
th?s business situation in recent j
weeks, the commerce department
noted in a periodic review, though i
ibllshed April, 1850.
881._
THE HAGUE
CONFERENCE
AFAIL?RE
Meeting Adjourn
ed Without Having
Accomplished Any-1
thing of Importance
? L i
The Hague, July 20 (By the As- !
sociated Press). ? The United
j States government figured in the I
j closing scene of The Hague con- j
j ference which today passed into
j. listory without accomplishing its)
'aim?the reaching of an economic!
I accord with Soviet Russia. M. j
Cattier of Belgium made the state-!
ment at the final session at the
peace palace that he was author
ized by the American charge
d'affaires to say that the American
government would adhere to the!
resolution which had just been
adopted, whereby the governments!
engaged not to assist any of their j
[Citizens :'n attempts to acquire!
: property in Russia which belonged I
I to citizens of other countries and I
was confiscated since November,
1517. .. . I
The United States, he added, j
had no intention of departing from!
its, line of-conduct with regard to j
property^'expropriated in Russia, j
The resolution itself gave rise to J
some debate. France, through M. j
AlphandXmoved to amend the
resolution sfo* ~that the word "be-,
longed" would become "belongs."
France's idea was that although
the property had been seized by the
Bolsheviki, it was legally left in the
possession of foreigners and that
in the resolution the use of the!
present tense, of the verb should i
clearly record this fact. The j
amendment was rejected.
The Baltic states did not succeed j
in their efforts to have set up some j
machinery for possible continuance
of the work of The Hague. Be
lieving the Russian project for the
recognition of debts and the right
of compensation for confiscated
property was a logical basis for an
eventual accord with Russia, the
Balticm states wanted to create
some organization for receiving the
Moscow go\'ernment's reply as to j
whether the newest , proposal or its)
Hague delegates was officially rat
ified.
Through this organization the
Netherlands government, for in
stanccti it' was pointed out. could
then transmit the reply to all the
other governments, and, if favor
able, it could serve as the foun- j
dation for renewed negotiations, i
and perhaps another conference, j
The Baltic delegates were firmly {
convinced of the necessity of io'sing j
no opportunity, to provide for the;
regeneration of Russia. Thej- were.
induced, however, not to push j
their point and the matter did not i
arise at the closing session of the j
conference which adjourned after J
the property resolution and a se
ries of leports were adopted. . !
Three separate documents ex- j
plained why the subcommissions J
on private property, credits and j
debts failed to reach any conclu- j
sions which would serve as a basis 1
for a general agreement with Rus
sia were among the reports. The
fourth document, a general survey,
declared the new Russian proposal j
could not form the foundation for j
an agreement because it did not j
embody any working rule or ma
chinery of any guarantees which
could insure the effective discharge
of the obligations the Russians
proposed td undertake.
The end of the conference means
that when one month has passed,
the powers are free to make sepa
rate agreements with Russia and
that Premier .Lloyd George'-s non
aggression pact lapses. This was
the arrangement made at Genoa.
It permitted The Hague confer
ence to be held without the men
ace of war arising between Soviet
Russia and the other European
nations during the period of ne
gotiations.
? ? ?
Washington, July 21.?The per
capita circulations July 1st was
$39.87. compared with $44.78 a
year ago. according to a treasury
statement made today.
actual ccal shortage has not been
occasioned.
"The leason for this lies in the;
very heavy stocks which were built |
up in the eariy month's of the year."
the statement said.
"As a matter of fact bituminous
production for the first half of the
present calendar year has been
less than 5 per cent, below the out
put in the corresponding period a
year ago. In recent weeks some
have begun to experience a fuel
shortage. Thi:-. together with the]
realization that even after mining
has begun it will be some time be
fore an even distribution can 1"'
established, has bad a deterring
influence on industry."
A resolution di manding a feder
I
al investigation of the events at
Herrin, ill.-, where a number of
non-union workmen were killed last
month in mob assaults, was made
public today by operators who at
tended th<- executive conferences
in Washington called by President
Harding. Though men "treach
erously betrayed after having sur-i
rendered" were tortured and inarm
ed, the appeal 8aid. "himI shot
down in their tracks <?i hunted like,
wild beasts." n<> prompt, vigorous
or fax reaching efforts "had been
made by local or state authority in
Illinois to ascertain the true extenl
of the massacre and t<> apprehend
or bring to justice the persons
#uDty."
"Be Just and Fear 3
ANOTHER
COAL STRIKE
CONFERENCE
Chairman Hooper of
/the Federal Labor
'Board Called to
Washington For
Consultation With
Cabinet
Washington, July 21 (By the As
sociated Press).?Determined to
obtain a first hand view of the
railroad strike, President Harding
today called Chairman Hooper of
the railroad labor board here from
Chicago for a personal" interview
tomorrow. Prior to summoning
the labor board head, the president
received Chairman Cummins and
Senators Kellogg and Watson of
the senate interstate commerce
committee who reported on their
conference last night with Eastern
railroad executives and later the
whole question was taken up for
discussion in a prolonged cabi
net session.
The president was represented
as desirous of hearing from Mr.
Hooper an account of the positions
taken by the leaders of striking
shopman, the railroad executives
and the board itself during the ne
gotiations aimed at a strike set
tlement but which now have been
broken off. Some conflicting re
ports in the matter have been re
ceived at the White House espe
cially since.the conference held last
night by the three iterstate com
merce committeemen and the
executives of the larger Eastern
trunk lines.
With Mr. Cummins he went over
the entire legal situation as it
concerns both the railroad and th6
coal strikes, the result being, Mr.
Daugherty said, that he and Mr.
Cummins were in agreement as to
the government s power to act in
both cases.'
"I haven't any doubt." the at
torney general said later, "that the
government has as much power
and. authority to protect men who
are engaged in the production of
coal which is indispensable to
transportation as it has to protect
the men engaged in transporting
the mails and interstate com
merce. The government has full
power and authoritg to see that the
production incident to transporta^ j
tion is not interfered with."
All Phases Gone Over.
Asked whether legal proceed
ings, including writs of injunction,
were discussed with Senator Cum
mins. Mr. Daugherty replied that
all phases of possible action which
might be necessary had been gone
over^. including, he added, "the
right of a man to work and the j
rigrht of a man to quit'work."
The attorney general said no |
papers were now in course of j
preparation in connection with the j
strike, but declared that the ad- j
ministration's plan involves con
sideration of all possibilities.
"The coal situation." he contin
ued, "is more or less involved in
the railway situation, whether p?r- j
posely. I don't know. A good many j
railroads are reporting serious j
shortages of coal. Several I havej
noticed, in going over the reports
have only about ten days supply." j
Regarding the railway strike sit- j
uation in the West the'.} attorney
general said "it was about the i
same as yesterday, except that in
Montana and Idaho trains are
being interfered with more than
heretofore."
In these states and in Montana
particularly, he declared, "there
has been cruelty to men working j
on the trains." Some of the rail- |
way workers, he said, had been j
taken forcibly off trains, and some
whipped and thrown in streams. J
The attorney general indicated
that the government contemplated
measures to curb such acts of vio
lence and do all in its power to af
ford full protection to railway
workers.
No Immediate Legislation.
It appeared to be his view, in
which Senator Cummins and other
senators have said they shared,
that there was no immediate leg
islation practicable ? to deal with
the present situation and that leg
islative action would have to be
confined to coping with future
emergencies.
During the day Samuel Gompers
president of the American Federa
tion of Labor, issued a statement
calling upon the government to
open "direct negotiations'* between
union chiefs and employing cor
poration and coal mining, and sug
gesting that the "helpless ami all
hut defun?-? railroad labor board"
be set aside in the matter.
Senators Cummins, Watson and
Kellogg, during their visit to the
White House today. told the
president they had found th<> sen
iority issue t h t* chief obstacle to
settlement of the railroad strike.
luM indicated that the leaders of
the striking shopmen were also de
manding that a new federal hoard
of mediation !??? set ui? to consider
transportation labor controversies.
Railroad executives, th?- senators
reported, would not reinstate re
turning shopmen in the positions
they formerly held, even should the
strikv be called off. because thej
claimed a total of nearly 240,000
men ha?' been employed to flil the
places of 400,000 strikers. These
Sot?Let all the ends Thon Ainis't f
Sumter, S. C, Wed
Richard O'Neil, New York stat
helping his baddies fight for bette]
when wedded last year. ? So he rx
Veterans met in San Franciaea ,
! Germans O'Neil, single-handed, killet
JEFFORDS
PERFECTS
APPEAL
j .
'One of the Confessed
Murders of J. C. Ar
nette Using Techni
calities of Local
Procedure to Cheat
Justice
i -_
Columbia. July 21.?F. M. Jef
I fords, one of the trio convicted of
; the murder of J. C. Arnette. Co
! lumbia filling station proprietor,
j and sentenced to die on June 15th,
J but whose notice of appeal stayed
j his execution, today perfected the |
j appeal when he served on Solicitor
j Spigner; of Columbia, the papers
setting forth the grounds of his ap
peal. L. G. Southard, of Spartan- j
burg, ana Barron. Barren & Bar
ron, of Union, represent Jeffords,
j The appeal contains eleven excep
! tions to the rulings of Judge
j Townsend in the case. The appeal
I also alleges that the trial started
on May 15 when, the crime was
j committed on the 9th. there was in
j tense public feeling against the de
! fendant. The appeal also sets forth
that the trial judge erred in deny
i ing separate trials for the three
I men. Je?ords. Harrison and Treece.
ARREST THREE
AT GREENWOOD
jMen Alleged to Be Implicated
in Beating of Girl
Greenwood, July 21. ? Three
white men. alleged to be implicated
in the beating of Irene Fisher, an
j eighteen-year-old negro girl, here
j Tuesday night, were arrested late
(yesterday afternoon on warrants
j issued by the city recorder. They
I are J. C. Deal, a member of the
I Greenwood lire department: E. C
! Johnson, an automobile salesman.
I and Claiborne McDov. ell. an auto
j mobile mechanic,
j The girl alleges that her assaxl
| ants accused her of taking a $10
I gold piei-e from one of them and
! then beat her with sticks until her
body was lacerated. She claims
that the gold piece was later found
j in the pocket of one of the men.
! The men were arrested on a
! warrant issued under a city ordi
; nance charging fighting. They
'were released under $1.00 bonds,
i No charges have been preferred by
county officers. -
'I'he case will not come to trial
until the girl, who is alleged fn
have been beaten .:lm<isr to death,
is able to testify, it v.as stated to
day.
Tb" bartenders who have fcf>en
at s<-a can go there now.
One funny thing is a woman
talking back to a radio set.
new men. it was said, had been
promised permanent employment if
they developed efficiency.
W. VV. Atterbury of the Pennsyl
vania railroad, it was said, esti
mated that "tit of 18.000 employees
who walked out July I, 9.000 had
had their place filled by new men
who. he juid, would be retained.
X be thy Country's, Thy God's and
nesday, July 26, 1922
red Honeymoon
>*s greatest war hero," was too busy
? conditions to go on a-honeymoon
?tponed it until the Disabled War
Here he is with his bride. ... Of 2S
I five, wounded four and captured 10?'
WATCHFUL
WAITING
_P0UCY
Harding Looking For
Something, to Tum
Up in Coal Strike
Washington. July 21 (By the
Associated Press).?The govern
ment is prepared to "stand pat"
for a period of ten days to two
weeks in its attitude toward the
coal strike, it wa-; indicated today,
in order to ascenain . whether suf
ficient production will be obtained
through the reopening of bitumin
ous mines under guarantee of fed
eral protection to assure the fuel
requirements of essential industries.
In the meantime, however,
plans for distribution of vthe cur
tailed supply of coal are to be push
ed, it was said. Secretary Hoover
announced tonight that he called a
meeting here next Monday of rep
resentatives of producing districts
in Pennsylvania. West Virginia.
Tennessee. Kentucky, Alabama and
Virginia to discuss the proposed
"rationing" plan and to formulate
a policy designed to restrain profi
teering.
While all three parties to the
recent conferences in Washington
?the government, operators and
union?seemed satisfied that the
situation as it now stands was
hopelessly deadlocked. a new
move for restoration of peace in
the coal fields was 'seen in the res
olution introduced in the senate to
day by Senator King (Democrat)
of Utah, who proposed creation of
a commi-sion of five to investigate
both sides of the controversy and
report its findings. No provision
was made in the resolution for
enforcing the findings.
A "survey of remaining coal stocks
was said to have convinced admin
istration officials that these were
sufficient to permit a fortnight of
waiting to develop th^ response to
the president's "invitation" to the
operators to resume operation with
out adding unduly to the danger of
an industrial shutdown through
lack of fuel.
Secretary Hoover's program for
emergency distribution was said to
contemplate the organization of a
central committee here which
would act through local commit
tees in the principal coal produc
ing sections.
"Plans have been formulated."
Mr. Hoover said, "for cooperation
of the department of commerce and
tiit* interstate commerce commis
sion and tli" department of justice
by which the cooperation of re
sponsible operators the control of
price and distribution fan be ef
fected.
It involves the pooling of coal
in each district and the distribu
tion of cars under the authority
and direction of the government
with ?!?.?? cooperation of the opei*a
tors' committees.
Anderson. July 21 .lehn Porter,
aged nineteen, lineman of the
Piedmont and Northern Railway,
was instantly killed this afternoon
when a guy wir. attached to a
Ijosl fell across th" trolley wire,
sending fifteen hundred volts
through his body. Physicians
worked hard with the pulmotor
bill were unable to revive him.
Porter came t?> .Anderson this year
from Iiis home in Lancaster.
Truth's."
RAILROAD
TRIE LONG
i^ECTED
Preparations Begun
By Men Over Year
Ago?Awaited Best
Time I
Washington, July 23.?That the
railroad shopmen have been pre
paring for the strike now in prog
ress since April. 1921, and waited
15 months because of a desire to
"accumulate enough grievances to
support a demand for a nation
wide strike" were statements made
today by P. J. Conlon, vice presi
dent of the International Associa
tion of Mechanists, at a public mass
meeting here.
Union officials learned April 8,
1021. Mr. Conlon said, that the na
tional agreement with the railroads
was to be abolished, although the
roalroad labor board did not act
until April 14. When individual
agreements were sought, he declar
ed the unions "ran into identical
demands from every road we ap
proached which indicated to us
there was some central agency or
authority directing the fight against
us."
"Then we realized." Vice Presi
dent Colon continued, "that we
would have to sit tight and suffer
in silence until enough grievances
had been accumulated to support
a demand for,a nation-wide strike."
Of the 1.100' decisions handed
down by the labor board, the
speaker listed 700 as favorable to
the railroads and 400 as "nomi
nally in favor of our side/' but of
the latter, he said, at least 300 were
put into effect by the roads and
therefore "didn't mean anything-."
Asserting that the strike leaders
were well satisfied with the situ
ation. Mr. Conlon said:
"It generally takes from SO to
?0 days to make a shop strike ef
fective but before this one had
been on ten days more than 250
trains had been cancelled out of
Chicago, the West Virginia non
union coal mines were bottled up.
and the iron and steel industries
were crying for help. And we have
hardly started yet."
,-??
JURY RETURNS
MURDER CHARGE
W. A. BJackwell Claims Splf
Defense. B. B. Glover Kill
ed
Spartanburg. July 28.?W. A.
Blackwell was held by the coron
j er's jury this morning for the mur
[ der of I>. B. Glover last night.
The shooting occurred at the home
of Mr. Glover on the Howard Gap
road, just out of the city limits, \
From the testimony of Mrs. Glover, j
who was the only eyewitness ex- j
amined by the coroner's jury, i
j Blackwell, who married Mr. Glov- !
er's sister, went to the house yes- j
terday between 12 and 1 o'clock in,
a drunken condition and she put j
him to bed. Last night at bed j
time she went to bed herself in an- j
other room. Her husband was
away. After.,she had been asleep!
for some tint* she heard her hus
band at the door and got up and ;
let him in. telling him that Bleak- !
well was in the other room and not
to bother him as he was drunk.
Mrs. Glover testified that her
husband came in and started into
the room where Blackwell was in;
bed and as he got to the door she
saw Blackwell get up and flash a
pistol. She saw the pistol and told'
him not to shoot but just then he
shot and her husband fell in the
doorway. She went for a physi
! cian.
Black well claims that he was at
\ tacked by Mr. Glover and shot in
self-defense.
Mr. Glover was shot in the leg
when officers of the law raided a
distillery in the lower part of the
county two years ago. and as a
consequence one leg was about two
j inches shorter than the other,
j When the officers searched the
house last night they found a
small distillery such as is some
times used on the cockstove. th*w
said. . v,
-
Railroad Employee
Kidnaped in City
[Nephew of Judge Carried to
i Woods and Beaten?Two
Strikers Caught
Chattanooga. .July 23.?Ward
: Draper, 12. employed in the yards
j of the Nashville; Chattanooga and
1st. Louis railroad, was kidnaped
j in the down tow4? section of the
city this afternoon while on the
way to work, was shoved into an
I automobile and taken to the coun
j try and badly handled.
I Draper said he was beaten by the
j nn u in the car the entire time dur
i ing a five mile ride to the woods.
I Then he was thrown from the ma
il bine, returning to the city on a
j street ar to enter a hospital.
Draper did not know any ?>f his as
sailants but says (hat he will be
able to ?dentify all of them.
Draper is a nephew of Judge W.
W*. Draper, assistant attorney gen
eral. wh<? has iaken charge of the
case, and officers are searching for
two strikers who are said to have
(?been identified by witnesses of the
' kidnaping.
THE TRUE SOW.
HOOVER HAS
COAL MINING
PROGRAM
Scheme t o Operate
Mines Under the
Government Super
vision t o Relieve
Fuel Famine
Washington. July 23.?(By the
Associated Press). ? Operators
from the coal producing districts
of six states will be asked tomor
row by Secretary Hoover to coop
erate with the government and the
railroads in a plan to insure the
distribution of fuel to the carriers
and public utilities and to prevent
profiteering during the strike emer
gency. Ali angles of Mr. Hoover's
scheme, which contemplates the
formation of a central producing
committee to operate through com
mittees in the producing districts
of Virginia. West Virginia. Tennes
see. Kentucky. Pennsylvania . and
Alabama, were threshed out today
at a series of conferences of the
federal agencies involved. Before
the opening of the meeting tomor
row Mr. Hoover wiil have from At
torney General Baugherty a report
on the powers accruing to the gov
ernment in the emergency through
the cooperation of the interstate
commerce commission and its au
thority under the law regulating
interstate commerce.
In general Mr. Hoover's program
was understood to contemplate
the creation of an emergency ma-^
chine with the committee compos
ed of a representative from the
j departments of commerce, justice,
interior and the interstate com
! merce commission with the com
merce secretary as chairman, ope
rating through the local commit
tee established in the producing
districts at the time of the volun
tary agreements fixing maximum
prices.
Pooling of coal in the producing
districts and the distribution of
cars under a preferential system to
be instituted under authority of the
interstate commerce commission*
is planned to permit ofv the mar
shalling of fuel at the most avail
able points for quick, shipment to
the destinations where most need
ed. Cooperation between the rail
roads and the interstate commerce
commission would make possible
adequate supply of cars and estab
lishment of freight embargoes, if
necessary, to facilitate fuel move
ments.
Representatives of the operators
and the railroads are to be draft
ed into service as administrative
aids to the central committee to
provide direct contact with these
industries.
Price maintenance is to bo
sought through efforts to obtain a
more general observance on the
part of small operators of the vol
untary price agreements already
in force and by cooperation on the
pari of the railroad to prevent com
petitive bidding sending coal prices
skyward.
While Mr. Hoover's scheme wa3
declared to be based on the coope
ration ox the parties interested in
continuing the distribution of coal,
the authority of the interstate com
merce commission to act in emer
gency in behalf of interstate com
merce was held to be the govern
ment's "trump" card. To this end
appointment of representatives of
the commission to local committees
was considered as enabling the op
eration of the program should co
operative efforts in any district fall
short.
Primarily. Mr. Hoover has indi
cated, insurance of coal supplies to
the railroads is the object of the
distribution scheme, with indus
tries producing necessities, public
utilities and similar consumers to
be taken care of as their needs be
come imperaWve.
. ? ? <?
COAL OPERATORS
HOLD MEETING
AT WASHINGTON
Washington. July 24. ? Bitu
minous coal operators representing
the present producing district in
six etater. gathered here today at
a call of Secretary Hoover, who
sought their cooperation in the ad
ministration coal distribution
scheme designed to protect the
railroads, public utilities and other
necessary industries, against a
shortage and to prevent profiteer
ing.
Chairman Hoover and Attorney
General Daugherty held a con
ference prior to the former's
meeting with operators, presum
ably on the legal phase of the coal
distribution plan.
Agree on Price
and Distribution
Washington: July 2 4.?Operators
from the producing districts of six
states in conference being held to
day with Secretary Hoover have
agreed in principle with the ad
ministration's plan for mainTain
tng prices, insuring fuel distribu
tion during the strike emergency.
Legal*phases were given approval
by the department of justice in an
opinion s?mt to Hoover by Daugh
erty. while thn conference was in
session.
FHROX, Established June t, 1S66.
VOL. LIL NO. 47
_ .- U
YOUNG RYAN
IS BANKRUPT
FOR MILLIONS
?
Son of Great Wall
Street Speculator
and Financier
Makes Big Splash
Xew York. July 21.?All&. jg'
Ryan, generally regarded as one .oh
Wall street's most N spectacular t)^-'
erators during the "war boom" -pe-'
riod and the son of Thomas For- .
tune Ryan, from whom he has ^ee$v"
estranged for years, went ban*>" ?
rupt today, listing liabihjtjea
532,435,477. of which $27,$0e>S4- '
are secured claims, and his risers;
at $643.533. r
His voluntary petition in baak
ruptcy, which comes ?s .a startling:;
climax to one of the stormiest fia>,,^
ancial careers of the present ge^'*
eration, indicates the wiping out of
a fortune variously estimated froal
$5,000.000 to $30,000,000. ,Waai__.
street, which began to count young "
Ryan out as soon as he was^.ex
pelled from the New York Stocfc
exchange June 23, 1320. following .
his sensational "corner" of?&8tz\
motor stock, was nevertheless'. ~
shocked by the immense am?^"
of .liabilities which the yoking finr
ancier had assumed.
Neither Ryan uor his attorney;
George F. Lewis, would make iny *
comment on the bankruptcy pro
ceedings beyond stating ^hat "the
schedule- tells - the story." ^ T^je.,
schedule " lists the assets and^ lia- ~
bilities of Allan A. Ryan, person- "\
ally, and the firm of Allan Ai' Bvan
fe Co., of which he was president.
Ryan's greatest expfoit was hk
sensational corner of Stutz mot?r^
stock which, with his resultant-ex-^
pulsion from the? stock exchange -
is held by his friends to* hajv^/bfeeja. '
directly responsible for his -fina?^?i
ruin. ' ' A:j*r
Ryan and his associates are ^ *
(leged to have bought 3*,0Q0 sb'$J?te 4
of the stock .for themselves dt*ri?g
the month of March and. to3&v*e -
used the alleged corner- tor forest
up the price of the stock until: it
had reached >391 a share on March
31. Trading in Stutz rao^ers^^ss;
suspended and an indefinite
torium was declared, "* in .
there could be no calls for delivery '
of sh?resr LafeA"?t the.reque? .
of Mr. Ryant the stock was sf?c&
en from the list.
Governors of, the stock exchange
after an investigation declared tnS"t__
a "corner'? existed, but Mr." -Ryan
defied them and is said to hajrai
made ? the ashorts" settle for "
$551.25 a share, netting him a
profit estimated at $1,650.000.
Mr. Ryan was then summoned
before the governors .on charges
that he was "guilty' of conduct? tii-i
consistent with equitable principles
of trade."' He refused to appear;
and the governors, after ^deliberatf :
ing five hours, expelled him. His'
seat on the exchange, wMchh}?
f father had purchased on October
j 29, 1S74. for about $4.500- ar^h-s^;
later transfer to him. was sold ftttl '
$98,000 to Arthur Gwynn. The
proceeds of this sale, which have
been held in trust, are among his
listed assets. . .. '
Shortly after his expulsion. Mr:
Ryan brought suit for $1,000,600
against William H. Remicjfc, the
president of the exchange, -aacL
members of the board of goverAr?
ors. several of whom, he alleged,
had sold Stutz, motor shares
?'Short." The suit is pending, no
date ever having been set for a
trial.
Ryan*s eipulsicn from the ex
change was a heavy blow, to his
prospects^ the socalled "wiseacre^c
generally predicting that his n^xaifc-?
cial career would be brief. His
father, rated . as one of the coun
try's wealthiest men, was reported
to have privately expressed admir
ation for his-son's courageous fighi
and to have offered to help hini';
but no- public announcement of the
father's attitude v. as ever made ani&
apparently no help was forth
coming. Father and son had been
.estranged for years, the rift be
tween them . growing wider when
the father married a second timV
only a comparatively few days after
the death of the first wife, the*
young financier's mother.
B. & 0. OFFICIALS
WORK FOR SEP
ARATE PEACE
I Chicago, July 24.?With govero
j ment officials maintaining silence in
regard to the raihoad strike except
I for an announcement by Chairman
Hooper that the labor board
would make no further move at the
present, interest today was center^
ed in the separate peace efforts of
ofiicials of the Baltimore & Ohio
railroad in their meeting at Balti
more, with representatives of the
striking shopmen. B. M. Jewell,
strikers' ieader, refused to comment
on the I-altinvore parley. Few dis
turbances were reported over Sun
day.
Sun Yat Sen Claims
Another Victory
Canton. July 24.?Sun Yat Sen,
i the deposed president of . tfce\
I South China government announc
ed that his forces had captured
several i;undred troops of Chen
Chiung Ming, sixty miles north of
Canton. At Chen's neadquarters?
however, it was stated that the
engagement was unimportant.