The Lancaster news. (Lancaster, S.C.) 1905-current, October 01, 1915, Page 8, Image 8
^
HUGE CREDIT LOAN
HAS BEEN ARRANGED
' ./ V
American Rankers to Float the
$500,000,000 Hond Issue
for France and England.
FIVE YEARS AT 5 PER CENT
Country Will Ih> Dividnl Into Zones,
Snuill Investors (Getting a
Chance.
New York, Sept. 28.?The AngloFrench
financial commissioners announced
tonight that the proposed
credit loan to Oreat Britain and
trance would be 5500,000,000 and
would be issued on joint AngloFrench
five-year f> per cent bonds,
offered to the public at 08 and to the
syndicate of underwriters at 00.
It also was announced that the
bonds would be issued in denominations
as low as $100 and that subscribers
might pay for them by installments.
The bonds, issued at 08, will yield
approximately 5 per cent to the
investor. Formation of the syndicate
has been left to J. P. Morgan & Co ,
and "a large group of American
t backers and financial houses." At
' *v tjhe bonds will be repayable
Now lei ,vertibie into 4% pef
nlu' !''x" to-French bonds re'
'"H.iTble front 10 ?o 20 yeapti there
utter by the two governnyehts jointly
and severally.
Sir Henry Itabington Smith, a
member of the commission, made!
public the announcement. Sir Henry
said that an identical statement
would be made public tonight in
Chicago by Lord Reading, chairman
of the commission, who. with three
other members, is conferring with
Western bankers there. The statement
was issued In the name of Lord
Reading.
RUSSIA NOT IN IT.
It was announced that Russia
would not participate in the loan.
Henry P. Davidson of the firm of
J. I'. Morgan & Co.. issued a statement
on behalf of his firm, which
said that the commission had made
plain that it had determined to
recognize investment conditions in
America.
"It proposes to meet these conditions."
said tlie statement, "by issuing
an obligation which is without
precedent, namely, the joint and several
promise to pay of Great Hritaiu
and France. To this It has attached;
terms which mean a yield to the investor
of about per cent and
carry with them a conversion privi
lege, calculated, upon the return of
normal conditions, to prove of distinct
value to the holder of those
bonds.
"The interests of the small investor
are also consulted in the decision i
to issue the bonds in denominations'
as low as $100 and to allow subscribers
to make installment payments.
"It is proposed by the commission
that the proceeds of the loan be
handled so as in no way to disturb
ur own money markets and to that
end the general plan will he to leave
the cash realized from the bonds on
deposit with banking institutions
which become members of the syndicate
throughout the United States.
This proposed loan may, in fact, be
considered as an arrangement made
bv American commercial and agricultural
interests with their regular customers
to accept deferred payments
covering commodities purchased "
TO MEET EXPENSES.
Tin* 2 per cent margin between
* lit |ji irt n ai ?iui ii ini* iSMit* will !>;
offered to the public and the syndicate
will reimburse members of the
syndicate, it is contemplated, for
their expenses in placing the loan
on the market.
To bring the offering ?the largest
of its kind ever placed in the 1'nited
States before investors throughout
the entire nation the country will
be divided into districts or zones and
to each district there will be delegated
a subcommittee of the syndi
cafe managers, composed of the sub
scribing hanks and trust companies
within the districts. Thus at flnan
-Ak c.ial centers a committee of the bank*
In each city or section will have, d
rect charge of the work of marketing
the securities among investors rosid
ing in their district.
These subcommittees will worl
simultaneously and will report to th?
Keuemi ay uun niiiiiafioiii, n iki wii
be located in New York. The fiv<
year bonds, principal and interest
will be payable in New York. It ii
possible that the interest will be pay
able in other cities; this detail will
many others is yet to be decidec
upon.
In order, however, to comply wit!
regulations of the New York ex
change, Now York city will be dasig
>> -
\ nated as the place 01* payment uponj "
maturity.
PARLIAMENTS TO ACCEPT.
Parliamentary ratification of the'
L
plan is necessary in the case of both!
Great Britain and France but mem,-,
hers of the commission believe that ^
'r.d >rsement will bo obtained.
Many detrils are yet to be com-j
pleted. One step to he taken is the' a
formation of the syr.licate by the S
, Morgans and other American bank-1 I
; ers and financiers.
Mr. Davidson said that a large j
number of banks throughout the v
i country bad signified their approval 1
of the proposed credit and doubtless *
would bo invited to loin the svnrll-i .
, cate. He declined to name thc|
banks, asserting he would make
public the list in its entirety later.
How much of the 5 500,000,000
which will be obtained here is to goi
for the credit of France and how *i
much for the credit of England was v
j not divulge '.
"When two great nations Join in
an undertaking of this sort it is only
fair to assume that they cor.ie in on s
I equal terms," was tie comment of)
one banker familiar with the pro- j[
| cceding. t S(
BRONZE TABLET AT 'j
I MANASSAS UNVEILED
h
Assist am Secretary Breckenridge
Represented President anil Made M
an Addivw).
Manassas. Va? Sept. 30.?A jj
! bronze tablet commemorating the
i peace jubilee here July 21. 1911, was ci
! unveiled today in the presence of ^
several thousand people.
President Wilson was represented
by Assistant Secretary of War c
Hreckenridge and Governor Stuart! "
by Judge J. 3. rr>. Thornton. j,
I Colonel Edmund Herkeley, a Con- g
j federate veteran, 94 years old, dci
livered the invocation.
o
Thirteen girls, each carrying the ^
' flag of the state she represented, sym1
bolized the states of the Confederacy| tl
' and 4 8 others represented the re-j
' united states. j ^
There were many Union slldiers v
among the Civil War veterans pres-js
ent at the unveiling. After the cere-1
monies they visited the battlefieldsi '
where they fought more than 501 v
years ago. | i
Mr. Hreckenridge, in his address, g
said the spirit of self-sacrifice shown
by both Union and Confederate soldiers
should become an example for
American citizens today.
"We hear a great deal in these
j days," he said, "about what the s
government is going to do for the ?
A
people, and we hear very little of j:
what the people are going to do for; t<
the government. There is much' p
more use of the words 'privilege' and: ^
'right' than there is use of the word j ^
'duty.' /Except for a few extremist jv
disarmers, the great body of opinion s<
in this country wants the country to
be safe from a military standpoint; ^
but nevertheless the National Guard'
goes begging for recruits." j w
The speaker stressed the necessity! h
for adequate military preparedness,
and declared that none knew better:
a
than the veterans of the Civil War (l
that the blessings of free government
' cannot be maintained except through C,
sacrifices. The true soldier, he said,
though knowing the horrors of war,
j was not "the man who demands
peace at an price, that is the peace v
that means submission if need be. \
to the mailed list of unrighteousness
and despotism." ! j.
"He cannot escape the thought,",
continued Mr. Breckenridge, "that in!
past generations his fathers' spilled
their blood that their children might,
enjoy the heritage of liberty that now
is his, and thus he is impelled to the
I resolution that if necessary he in
turn will spill his blood that his
children and his children's children
may have that liberty passed on to
them untarnished and intact."
I'hirollincnt at ( letnsoii.
Clemson College. Sept. 2ft.?Thoj
process of assimilating the new cadet '
into the student body has begun at
Clemson College and the first year
men are beginning to settle into'
j tlieir places in the organization.
There were 272 new student* to bej
?matriculated this season and these,!
- with the 488 old students, give at
< total of 700 cadets matriculated to1
i date.
: Room is being reserved for the 40 j
- to 50 one-year agricultural men who!
will arrive October 1, and, with these
. and tne additional students tnat will
,; conifi ill iii the next few weeks, the
I number on the College rolls will go
,1 to the usual figure of from 815 to
' 8:10. which is the institution's eapaol;
Contract for Charlotte's New Postoffice
let.
I Washington, Sent. 30.?The con-1
tract for the Charlotte, N. C., pose-'
,! office and federal cou.t house was let
' today by the treasury department to
O. tT*?v#?fer & c0tt Qf Minora,
Ohio, for $193,692. ,
THE LANCASTER NEWS,
COUNTY !
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PKKAKANT PLAIN. 1 ,
Special to The News.
Pleasant Plain, Sept. 2 8?The
cene of a very pretty wedding was
it the home of Kev. P. E. Blackmon. I
Sunday morning, at 9 o'clock, the
ride being Miss Bessie Estridge of '
'\>rk Hill, and the groom Mr. Tillnan
Sims of Pleasant Plain. , The '
ride wore a charming gowfr or
vhite voile, \s lile the tiower girls, '
ittle Julia Sims and Maud Black- 1
non, wore dainty white dresses. !
tfter the impressive ceremony, perormed
by the ltev. P. E. Black moil. '
he bridal party and a host of young
riends went to church and then reurned
to the home of the groom's <
uother, Mrs. Abbie Simms, where a
ountiful dinner was served, which
as enjoyed by both young and old. 1
7ho, young couple have the best
lishes of a host of friends. .
NEW BETH KB.
pecial to The News.
New Bethel, Sept. :t(>.?As I have I'
ot seen any news from this commu- 1
ity in print (or1 a long time. I am 1
Hiding h few dots.
Mr. K. N. Carnes's mother. Mrs.
"ord of Columbia, has been visiting,]
er daughter the past week .
Mr. Rone Sapp is remodeling ins
ome.
Mr. Ronnie Todd went North '
unday. j <
Mr. Dewey Funderburk of Taber-.
acle visited at the home of Mr.; i
torn Sapp Sunday afternoon. , (
Mr. Roy Blackmon was a pleasant
aller in the Camp Creek section 1
unday. i
Mr. Reu Sapp was a visitor in the | <
'abernaclo section Sunday j 1
Our prayer-meeting at Rethel i ,
hurch was conducted last Sunday;
ight by Mr. Roach Throatt and is;
a be conducted next Sunday nighti
y Mr. Myrt Baker. It is pro-j I
ressing nicely. ,
Mr. Arthur Blackmon nF t.nnoaa.i
er came out Sunday to see Ills moth- |
r, Mrs. It. I... L. Blackmon, who has! '
een quite sick for the past week. i
Mr. George Glenn is very busy j
tiis week making molasses. ' .
Mr. J. L. Todd spent Tuesday in j
Tonroe on business.
Misses Leola and Louise Sappj*
isited relatives In the Tabernacle! |
ection Sunday. ! t
Mrs. T. H. Mark celebrated her!
7th blrtday Wednesday, the 29th.
Everybody in this community is,;
erv busy gathering their cropa. i
"he health of the community is very |
ood. If this escapes the waste
asket you mav hear from us again.
"8ALLIE." I '
M
HKATH SPRING.
|'
pecial to The News.
Heath Spring, Sept. HO.?Mr. and '
Irs. Simon Beckham of Pleasant'1
[ill and the Rev. W. W. Boyce, pas- 1
^r of the A. R. P. church at that
lace, were guests of Mrs. K. L.
renshaw early in the week.
Mr. Wylie Ussery of miners. Barn- '
rell county, has been the guest of
Irs. W. D. Ussery and family for
everal days past. (
Mrs. M. B. Cauthen and family -]
ime down from Lancaster Wednes-ji
av to visit the fnrmpr's prnnrt.l I
lothcr, Mrs. Caroline Kobertson, '
ho continues quite feeble at her
ome near Oakhurst.
Mr. Frank Bell, assistant postmas*r,
after spending about three
reeks among friends in Alabama,]
as returned to his post of duty here.
Miss Mlnter has gone to Hickory
I rove, N. to visit her brother-lnaw,
Mr. (Juinn and family. She will
lso spend some time with her
irother in Chester while on her trip.
Mrs. Irby Hinson of Blacksburg is
isiting her parents, Mr. and Mrs. I
V. J. Vaughn .
Miss Florence Peak, of the school]
acuity, left Wednesday afternoon j
or ner nome 111 tvugeueiu 10 aiienn j
he marriage of her sister.
Mrs. J. W. Crenshaw of Lancaster [
s with her sister, Mrs. J. T. C'ren-j
ihnw. for a few days' visit.
Miss Maggie Vaughn lias a post-|
ion in the sales department of the!
liirselm' store at this p
Mr. Robert Therrell of Catawbaj
Palls was here for a day or two this j
week.
Mr. O. ('. Croxton spent Monday
itul Tuesday in the capital city.
Mr. and Mrs. J. E. Mobley spent
Sunday in Kershaw with Mrs. Mobley's
father, Mr. Young.
Miss Elizabeth Clark left several
days ago fr.r Enterprise, where she
is engaged in tenching.
Mr. Ernest Prwers has a position
in the wheelwright and blacksmith
shop of Mr. Eraser McMackin.
Mrs. G. \j. Mobley lias been quite!
sick for several days past.
A daughter was born to Mr. and
Mrs. W. S Hammond, at Rich Hill, j
about two weeks ago
NOTES FROM MUX VIIXAtfK.
______ i
Mrs. T. (!. Crenshaw and little
Nancy Nell are visiting her mother,!
Mrs. Williams, at Heath Springs.
Mrs. S. R, Roberts visited her \
sister, Mrs. W. K. Roberts, thi9 week.
Mr. and Mrs. E. B. Burnett vlfitted
the former's father. Mr. G. W. Bur-j
nett. in Charlotte thia week.
Mrs. Do lav Gregory and little
daughter, Mvrtle, visited her slater
in Charlotte Monday.
Mrs. Nan Harris was a visitor in
Charlotte this week.
Mr. and Mrs. S. T. Threatt were
visitors in Charlotte Monday.
Mr. I *?e Mi'ls was a visitor in Columbia
Monday. I
Mra. Crank Griffin has been very
sick the past week.
OCTOBER 1,1915.
Mrs. Millie Simms is some bev*er]^
low .
There were 9 2 present at the night |
school Monday night. There are
135 enrolled.
Mr. Ernest Swicegood killed a
hawk Monday measuring 50 inches
rrom tip to tip.
Horn to Mr. and Mrs. Jackson
Wliittaker, Monday, the 20th, a son.
Mr. I. N. Reeves has moved his
family to Columbia.
Mr. Hen CritHn has been very sick
but is some better now. I
Rev. and Mrs. C. W. Burgess visit- j
ad the County Home Wednesday.
A little child of Mr. and Mrs.'
Lewis Pate died Friday and inter-1
111 H n * nlnno Qoiur.lao
i^uvuiuaj 111 VVC31 '
Side cemetery.
Miss Kate Ghent is improving in
liealth.
IMMCTICAIJ SAFKTY-FIKST.
Salisbury Post.
Kvcr notice a railroad man approach
a grade crossing?
Ho looks both ways and does not
ttteinpt to cross until he knows there
s no train in sight.
(tiding in a car with Captain It. H.
\very. superintendent of terminals,
it Salisbury, we watched the trained
ailroad man observing the "safetyirst"
rule to the very letter.
Why not?
Captain Avery knows that a train
nis the right of way. He knows
hat it is too late to escape after beng
hit. He knows the way of a lo
omottve engine and he knows .
hat its ways are to be respected.
The man who knows these tilings
s not likely to be hit at the ever
langerous grade crossing.
The man who gets hit and perhaps,
tilled, frequently more than one killid?is
the racer who disregarded the
>ig letters of warning and drivers
vith a wreckless daring that only
.00 often leads to the grave.
Never in the history of the country
uis the grade crossing been so advertised
as during the past two
months. Yet how many drive with>ut
due regard to the danger lurkng
there
The Southern is drilling this 4
'safety-first" principle in every day.
Employes of the road know how
earnestly the fight is being made to
protect lift and limb, and how carehilly
the great machinery of the big
tystem is watched day antl night?
tnd every observing man knows the
result of this is shown in the statls:ics
of accidents.
Yet people are driving carelessly
i?very day. Hundreds are walking
Lhe railway tracks day and night
Watch a railroad man drive an automobile.
Watch him as he approaches
a grade crossing and see
now much he respects the signs and
the warnings and see how carefully
ne tries to avoid accident and danger.
There is a lesson for all of us.
Safety first cannot be too greatly
ibserved.
Jares ON Sores, Other Retneoies Won't Cot '
["be wor?( cases. no matter of how Ion* standing
ire cured by the wonderful, old reliable Di.
Sorter's Antiseptic llenling Oil. It relieve*
knit* anrl Hsal it ' h . nntna time C/W* C1 at
WHERE S
Robinson-Cloud
Company
"Dress Up" Week.
Bennett-Terry Co
(Jnuil Times Greeting.
J. F. Mackey Co.
Toilet Articles.
F R RODDY & CO
Sixteen Hours a I)av. j
BANK OF LANCASTER
IBank Your Money.
n i i .1 /i
Kobuison-Lathan Co.
School Supplies.
T. M. HUGHES
Fine Plantation.
HIRSCHS'
Small Ad, Big Bargains.
' *
V ? r .
[ fine" pla
| for i
i ?
1 am offering for sale man
ridiculously low. Probably I
& one with another. However, 1
^ famous Gregory-Stogner lane
V* northeast of town, the best 10
caster county. Has good buil
especially adapted to alfalfa, j
Mr. Stogner has made up hi:
^ man this fall. I would take p
i all over it.
^ What is more desirable thi
V* "good times" or "hard times
& be cheaper than at present.
? higher prices soon.
I
| T. M. HI
i Real Estate Dealer.
I*
ONLY
Small Spa
You Know
a Lo
BIG BAI
In Fall And Winter
v c
flp LOOl
PC
H1RS
Send Your Job W
Lancaste
HALL WE
HIS AD. COST $2.00.
HIS SALES WERE MORE
THAN $108.00.
-o-o-o-o-o
On Friday, Sept. 24th, the
J. T. Wvlic On. got in a i)ii?*
shipment of "Smile" Hats
for men. Mr. Wvlic immediately
inserted an ad in
that day's News and by Saturday
night, or about 24
hours after the paper was
delivered to the postoffice.
this linn had sold more than
)? dozen of these popular
hats at $15.00 each.
TTow does that sound to
the man who says that it
does not pay to advertise?
Advertising is one of the
strongest investments that
merchants can make.
A MoT lie!" Tiling, Mow (iocs
the above statement about
hats sound to the man who
says that people do not read
advertisements t They all
do it?men, women and eliildren.
And they all profit bv
their reading, too.
READ NEWS ADS.
HEED NEWS ADS.
SPEND MONEY WITH
NEWS ADVERTISERS
AND BANK THE
SAVING.
?.*?/ '
> ^ A
t'w
JNTATION !
SALE |
\r fciraninrv lon/lo nf
j Kiipiiii^ lniiuo at jji iV/Ca "^1^
should not compare values &
win say that 1 consider the ^
is, located one-half mile jE
0 acres to be found in Lan- jT
Idings, is well watered and V
?rain and cattle raising. <i !
s mind to sell to some lucky ?j !
leasure in showing any one 4 4
4 4
in good land during either ^ I
?" Farm lands will never j
Conditions warrant much
V
?
JGHES 1
Lancaster, S. Cj X
.
V A^A 4^4 4^A A^A A^A
rVVV V V V VVVV V V
THIS :
ce to Let ?
We Have *
tof 2
RGAlNSi
Wear in Store For %
> u :
C FOR THE
NOTING FINGER {
?^i? ? S' !
Itn :
imMSESSSd'
rork To The News
r, S. C.
buy rr?
CITY MEAT MARKET
Meat Makes Brains.
Edwards & Horton
Pure Food Stuffs.
PEPSI-COLA BOHUNG
COMPANY
Pepsi-Cola. ^
First National Bank
Save a Part.
J. T. Wylie Co.
Men's Suits?New Line.
Gregory-Hood Live Stock Co
Harness.
Enterprise Mercantile Co.
Prosperity Announcement
T. M. BELK
Laiuln for the Market.
^ i
mm.,, i. ..I,,.,
mm