The Lancaster news. (Lancaster, S.C.) 1905-current, August 08, 1919, Image 1
4
1
68TH YEAR. NO. 82.
LAW IS AMENDE!
AS TO BORROW!
Ten Per Cent of Hank's Caj
and Surplus Clause Does ?
Apply to Cotton in Transit
IS NOT MONEY BORROW
As Long As Goods Are in S
ment and Draft and Bil1
Lading Together Limit is
Per Cent.
Columbia. S. C., Aug. 7.?
South Carolina Cotton assoclatic
in receipt of the following (lisp
from Washington:
"The house of representatives
just passed a bill which would an
in two particulars the existing la
as to facilitate the carrying of cc
and other non-perishable markel
staples to a more liberal extent
has heretofore prevailed. The 11
ure stands an excellent chance o
coming law.
"Representative W. F. Stevei
of Cheraw, who is a member oi
banking and currency committee
troduced bills looking to this en
consequence of request front
South Carolina Cotton associatioi
"The result was that the ban
and currency committee report"
bill which provided that "drafts
bills of exchange secured by ship
documents conveying or securing
to goods shipped, and including
maud obligations when securet
documents cohering commoditie
actual process of shipment, and
including bankers' acceptances ol
kinds described in Section 13 ol
Federal Reserve Act" shall no
considered as money borrowed
subject to the provision that no
person could borrow over 10 per
of the banks' capital and surplui
"Under ruling by the comptr
in 1917 it was decided that if
drafts were held by the banks
more than a reasonable time a
Ing the arrival of the cotton or (
merchandise they become promb
notes and subject to this 10 per
provision. Under the present me
of handling cotton, this ruling tie
tho shipper of cotton and hanu
the dealing in it very seriously.
"The bill which has passed
house would make It absolutely
that as long as the goods are In
ment and the draft and hill of la
are held together, the 10 per
limit does not apply. In addltk
that the hill amends the law so tl
farmer or a merchant may borro
notes secured by shipping docum
warehouse receipts, compress
ceipts, compress receipts, etc
much as 25 per cent of the eapit
the bank, provided the warelious
ceipts securing the note are wort
per cent above the amount of
note.
"In other words, with a wareli
receipt of cotton for $10,000, n
can borrow $0,000 and he cai
enough of this to take up 25 per
of the banks' capital and surplus
stead of 10 per cent as now alio
Although the hanking and curt
committee has 1 :t Republicans
only eight Democrats, all hut
member of the committee note*
the favorable report when it was
posed by Mr. Stevenson, the bill,
majority of 240 or more votes ag
40."
TREASURE ISLAND
LETS ROWER IN I
Agcd North Carolina Man Clm
Willi Oliiain in; Money l<> II
favor Ihminsox anil (odd.
Washington. Aug. 7.?Ca
Charles M. Dower, alias Steele
Statesville, N. is looked up hoi
the polioe charged with obtal
various sums of money from V
ington on n scheme to recover
tnonds and gold from Cocas I;
off the coast of Costa Rica. Ac
ing to the complaint lodged ag
him, Bower represented himse]
captain of the steamer Mary
which, he said, was captured b
rates while carrying the treasui
Peru. Escaping from his cap
Ito *er claimed according to the
plaint that he located the treasu
the cliffs of the Island. Tin
formants against him alleged thi
was col ecting money to tlnunce a
podltion to recover it.
Che La
SEMI-WEEKLY.
) TAKE STEFS TOWARD THE
NG CONTROLLING PRICES CAP
lital Enthusiastic Meeting of Farm- I)cnia
sot ers and Business Men Held Itailr
t. in Columbia Wednesday. Oi
;vr? ATTRMnAVftl \VA<2 I AT)cr I.-AO
hip- Between Six Hundred and Seven AH Rt
I of Hundred Representative Citi- ant<
* 2a zens From All Over State Eqi
Were Present. lie,
~ he An enthusiastic meeting of farmers Was
)n and business men was held in Colum- labor <
mtch Wednesday when the plan and equivo
scope of the South Carolina Cotton vate ci
,ms association and the relation of this r0ads.
nend association to the American Cotton ^ ,,
w ao association was fully discussed. He- (he p(,
)tton |Ween (joy an,i 7un representative nieill .
tahlo citizens from all sections of the state jns(eac
than were jn attendance. The chief ad- Add
leas- firpsses were made by United States amj sj(
1 l)C" Senator K. 1). Smith, A. K. Elmore. men> ,
of Spokane, Wash., representing the can p(
'son, wheat growers organization of the sta.em
the pnr Northwest, Governor Cooper and pr0p0g
' *n" J. Skottowe Wannamaker, president oonf,re
'n of the association. Hrief talks were ..j(
also made by A. A. Protsman, f1el<l s
organizer for the association, and B.
. , passes
King prjjnk McLeod, also member of the
. _ creases
tu u state organization.
? profits
ana within the next few weeks a state- This
iping wide campaign for membership is to
words
tine he conducted in every county, harm- ,
: de- ? - have I
wiiu jinn win ne assessed ceiiis
1 per bale on the basis of the 1 y 17 vv,l'<'1
s In pro,, ,\s the membership is for three for t,1(
also y,,ars jo cents a bale will be collected ,l( ial ^
f the jor ,|)(1 tW() aucceedlng years. Meet- t*10 m
r the j?K8 are to l)e j10j(j Jn eacij county P,0P0S
t be When strong addresses are to be on to '
and ma(iet setting forth the program of rha'
one the association. Provision is also made ,,olo s
cent for membership of profesisonal and tor ,,l<
business men and bankers. ''I<? ra'
Must Have Funds. *',e na
such Throughout the meeting it was em- c0?Per
1 for phasized that the organization would a ronl
wait- fut4ie without adequate financial t,cJPal
ither hacking. Mr. Klmore explained that
<sory ,j,0 wheat and fruit growers had com- VN',ir'1
cent hined in the West and had assessed 'Knorei
thod themselves $10 an acre. The faith ers of
,(i up tlir? farmers had in tlieir organization f
toted would be tested by the measure of roa,'s
generosity with which the, come ot ''lr>
tho| its financial needs. . K?K?'d
sure jsj0 action was taken as to fixing a not "
ship- j minimum price, although somewhat j , :,"l oa
idillir u t rnn I1 n ? o u>nr> *!<%#!? u.. i.? ii% I till* Tli
I ...IV nuwua CIMM I > i?i il" uy Is.
cpnf Dabhs to have the organization go 01 "'is
>n to on record aa estimating 50 cents a
hat a pound as a reasonable price. A meet- Uric
w on g?g of all the stiite associations in ^',a
ents, tlit? cotton belt is to he held about 'rom '
re" September 1. at which time one of the 1 ,ia
as chief objects will be to srgree upon 'rf>,n 1
a' ?' a minimum llgure. a 'Ixed
e re- What was possibly the most far- 081
h 10 reaching effort of the day was the Thu
tho resolution calling on each county to fon> r
buy all cotton that would be rushed (><>,'P<"*
louse to the market early in the fall before r?ads
man a minimum price had been set. Lang ?l>erat
11 do l> Jennings, of Sumter, led the tight '
eent for |j,p adoption of this resolution. '',a
arguing that there was always a largo thf> w
>\\od. block of cotton which "'as sold at the ri'v?nii
ency. opening of the season, which cotton Pr'va,(
and , was sufficient to meet the immediate "Perat
one needs *?f the manufacturers, and)'be sa
1 forj would thus prevent control of the n,*'"'e
pro-j market by the growers. Mr. Jennings tlon, a
by a, made an eloquent plea for the resolu-! <on8ur
ainst tion. saying that no one would stand v'ro w
to lose :i dollar and that each county during
\VS1<4 flnillUMiillv nltln in tolrn no , C ' " i\\
j the cotton hurried to the market. The sn.vs
JAI) resolution was adopted j happei
Another resolution was adopted ""'""P
irge?l catling on the president of the State l?te.
Hankers assoclaion and the presi- '
dents of the chambers of commerce
of Columbia and Charleston to call a presid*
plain meeting of hankers and business men i
#1 of the state with the purpose of J?'n
re hy forming a trade acceptance eorporainlng
tion In South Carolina. Such a cor- The
>'ash- poratlon was formed a few days ago "Th
dia- in Georgia with a capital of $2,000.- patchc
land 000. It Is estimated that a capital also ii
cord- stock of from $750,000 to $1,000.- Hlantc
ainst otto would he necessary for the South unions
If Carolina branch. the g<
Hie Governor Optimistic. This a
V Pi- Governor Cooper was the flrat people
re to speaker. He was wholly optimistic as rnent
tore, to |0e outlook for the cotton growers, sentin
com- The brightest days were just ahead, earns
re in The success of the organization de- nlze tl
r? In- pended upon the support whlrh the can ex
it he tarmots gave It. Moral support was to den
n ex- ? ? ?
(Continued on Page Eight.) (
J*ICASTE
LANCASTER, S. C., FRIDAY, AUGUST 8
EMPLOYES WANT I atipf
ITAL ELIMINATED 1
nd Tri-Partite Control of
oads Composed of Public,
>erators and Employes. <
REACHING PROPOSAL
evenue in Excess of Guar- ^
L'e to Owners is to Re ?Sfl
lally Divided Between PubOperators,
Wage-Earners. MUMBmSlR
hington, Aug. ?Organized
cal formal demand that pri
ipital be retired the
ri-partite control composed of MV,
iblic, the operating manage- rfJSjjLSjl
ind the employes is demanded T&Zwjsjfv
ressed to the American i>vit>ii-;ned
by tin engineers, the tirelie
condtictoi and tlie Amerlederatlon
of Labor, a formal
ent was issued announcing fl.is 3HJS
al. which wiP be carried before I
marks." says the statement. T-tep
by which organized lab it- ?'s-#
from demands for wage ini
to demands that the system of T# H(# ni?c*? and Neph
in industry be overhauled." fttn| .Ju!rt R5 K(K>d. for ytni
sentence sums up in a few
the proposal of which there ~~
ieen hints and indications, but STRIKE LEADERS (
is now laid before the country 250,000 MEN Al
i first time. Everywhere in of
Washington it is recognized as
ost serious and far-reaching " "? IVderntim, lie
ition the country will be called Are Determined to Stay
,'iet Demand*..
rapturizing the proposal as lahill."
It is put forth as remedy
e high cost of living, because, Chicago. Aug. 7. More
ilroads are the key industry ot' uoo railway shopmen of il
lion. It demands 'v" 3 "genuine! ;,re idle tonight ;?s a res
at inn and partnership based on strike called Friday bv tilt
community interest and par- railway shopmen's union.
Ion in control." of which Pres-J to statements of leaders
Wilson spoke to congress, and ganization tnr.ight after r?
the statement says has been ports from all sections. T
rl by labor and the private own- said the strike is spreadin
the railroads. indication of immediate se
> ask." it says, "that the rail- John ,, Sanders, 86C1
of the United States be vested r,aroi, th). w,? riMlllli]
nubile- that ?!w.?e actually en tl1ofr (|,.mands for S
in conducting that industry. hour for ,lia(-hinists and ?:
om Wall Street but from the helpers are granted. He st
(I offices and >aidx and out on j?ardless of what the intcrr
iltoad lines, shall take charge fleers of tin* various unit*
i ser\ice tot the public. 'doing at Washington, the
Demands in llrief. tiI <>f the men have detei
fly. labor's plan demands: .? froIT1 thl>ir (,<>m
t private capital he eliminated pny to januiiry
he railroads. ., .
Mr Sanders said no men
t the private owners receive ... .. , ,
moved from the wrecking
them government bonds 'with ... . ...
that no violence will be to
interest return for everv hon- .. ,
I nion committee's are t
liar that they have invested ' ., . ..
raihvav svstems to see- thai
t the tri-partite control hereto- .
' orders are carried out unt
eferred to be established, in , .
of telegrams are being se
atlons which shall lease the ous Mr San(ler!
and in which the public, the by M?n,,.IV virtually everv
ing nianagements and labor ...
th" countrv would be atT<-<
ie represented equally. strike
t the public, the operators andl
. Advice- received bv the 1
age-earners share c<|uallv all
. ... . : that on the southeastern li
le in excess of the guarantee to
.. , . , i men are our. Mr. Sanders i
i? capital, by granting to the
ors and the employes one-half j I-'OKItll) S\l F
vings which are expected to be ' '
by such a perfected orguniza- ^ AN NED 1
nd the public the other half as
ners, either by increasing sor- (borers I'nnlia-e la?t <>i
Ithout adding costs or by re-j so|m. ,
: costs. ,
Keen t <?ll<lcuilic<
is role originates with labor,,
the statement, "because labor
is to have fir in organization! order was issued le
;h which it may become artieu-i department of agriculture,
land Industries Tuesday for
trainmen are not represented ante or t 2.0011 cases of cam
statement because W. CJ. Lee,; bought ' >' grocers from tl
:'iit of the brotherhood, was out partnient.
city, hut it was said they would; The poods have been f
it. for public consumption ar
Text of Statement. will he forbidden. A num
statement follows: have been taken to the st
e inuendoes in telegraphed disj tory for examination by
s from Washington, appearing chemist and the condition
1 the speech of Hepresentativc ',i,s t'cen found to be dangi
n. of Texas, tbnt th<' railroad [ wholesonte. The goods w
i are 'holding up congress and ^ a K'oup of about 20 gr?
vernment' may as well cease. I state among whom the 1:
ppeal Is made to the American I w'cre distrlbuted.
direct. It invokes the judg-1 T.
to Itoiun.iii i
and common sense of public!
lent, of all the public which Paris. Aug. 7. The sup
a wage or a stipend. We reeog-! r" t,as '** a note to the
hat the only way in which ^.'authorities begging them
1st under the present system is!'? 'tie conditions of the e
land further increases In wages.' not lo embarrass any prei
??? , i Ion 'he work of the inter
Continued on Page Two.) j m s.it .: i-, H..d.;p s'
R New
, 1919. SUB:
ROM TTivrn c I
I
w?: "Beware of the man who offere you mrae
r Government eecuritiee."
I,AIM ! ROADS HONDS 1SSI E
IE IDLE| HAS KEEN CARRIEDj
? :
i.
c'arcs Men Iticlilaud County I'iles t p Itig MaOut
or jority for #'2,00(1,(1(10 llomN for
Permanent ltonds.
i
than L'.le.-! Columbia. S. C., Aug. 7.?With a
he country few precincts in the county to be
ult of the heard front carrying perhaps 800
t federated votes the bound issue for $2.000.u00
according for permanent roads in Itichland
>f that or- county is assured. Incomplete returns
ceiving re- gave 1.(> 1 :t vote- in favor of the bond
he otlloials issue and 7d(> against it.
g. with uni Outside of the city the vote was
ttiement. close and when several boxes in the
retary. de- rural districts gave majorities against
n on strike the issue, the "noes" were in a cheercents
an ful frame of mind The opponents
o cents for of the bond issues had a very slight
iid that re- lead at one time but the overwhelm-1
tational of- ing majority in the city boxes offset j
ns may he this ami the indications are that the
K.tin ii 11 * i umjiiini mil ur urincril IWH illlll one> |
-mined not half and three to one in favor of tin*
anils, with issue.
will be re- ->?<> I.AWYERs"aRE
crew a and IN 66TH CONGRESS |
lerated.
"ll """ ' ' Men of Legal Profession Outnumber]
! the strike
, . , Ollim-v Copies of New IMrei torv
1 hundreds
nt to vari- Iteueli t it>.
s said that
tuiltoad in Copies of the new Congressional Dited
l.y tin*, r(.(.tory whieli is now coming front
j I'ncle Sam's presses in Washington, |
union show | hav?> heen received. The directorvj
in*s oO.tim) shows that in tlie present lower house j
said. | of congress the membership includes
j *'>< lawyers. 1' editors and publish-!
(?-is, 10 merchants. 1". hankers. 11
SALMON farmer-, union labor leaders, four
| insurance agents, ei^ht manuf.ictui-.
. .. , , its, tii? locomotive engineers f??nr
I n\\ hull".
I newspaper reporters, and tv\o iron
Hil* moulders
! There at-.- also among those pres/ iir
in th*' Sixty-sixth congress, one
( tin- state tr*-< siin-. <>><, three lumbermen, one
milliner*'.- nuiK-ryinan, *?n>" miller, four teach-'
bidding ti e ers, one former cowboy, one cartoon-1
m-d salmon ist. one d*'ntist, two men front the
he war *1*'- -lipping world, one clergyman, three!
doctors, one citrus grower, two auto-!
ound until ntob'I- manufacturers, and one adver-|
id the sahi tising agent. Of the remaining member
of cans l?ets of the house of representatives,!
ato lahora- 4 "? modestly declined to record what,
the state they did for a living before they were
of the food elected to congress,
erously un- As usual the biographical data Is
ere bought the most interesting reading in the
icers in the directory. The Arkansas delegation
5,000 eases leads off with the distinction of having
among its seven members three
who submitted biographical sketches'
of exactly one printed line in length,
rente conn- Tie so modest Arkansans are ThndKumanian
dcus Caraway. Samuel M. Taylor and
to conform William Shield. Goodwin, all of whom
ntente and record the fart that they are members
/ions decls-' of the Democratic party and that they
allied com- Hvr 'n 'he district frorm which they
were elected.
vvv
SCRIPTION $2.00 A YE^HTJ
ATTORNEY GENEM"
AFTER THE PAClfr
They Are Accused of
(he Anti-Trust Laws oNE TP
Lnited States. Jtti p
WILSON TO OFFER PH I
First Development in 71
! orce Down the High
Living Affects the
Washington, Aug. 7.?Ai^tjWjfr
suits against the great meatt^pM!
firms were announced yesterdajfak
Attorney General l'alnier as thft.tf
concrete development of the
ment's campaign to reduce tbeMf^R
cost of living. 0
Armour. Swift, Morris, Wilffffcjtflr
t'udahy, w !io have been pictiynwa
the investigations of the federtM^^ft
commission and before congl
committees as a great eonil)ii^KfrjA
control of food products, aWj/zj.
haled again before the federoL.
by special prosecutors.
The evidence i 11 hand, AH, *?
fJeneral- Palmer declared,
"a clear violation of the s
laws."
Whether the prosecutions
civil or criminal the attorn
declined to state, mere
that the law provided for
The history of all the
anti-trust prosecutions
does not show a single indivi.
serving a jail sentence for a,
lion. There are evidences ' f
government hopes for sotm
present campaign. \
Hunting Profiteers. /
While lie was announcing (.
(ions of the packers, Altor \ *
aral Calmer was unleashing,
rial agents on a country-wide
profiteering ami food hoarding.
prosecutions conic under the
control law.
\I1 I'lilted States attorneysr-*4insfiucted
to ferret out food I I
ei s and lihel them under federf.
"Thi - is the most import an' ,
ncss before the country todat
nounced the attorney general,/ I
j.rop.iSi- to 11a\ ihe law enfoi ML
machinery of the governnief
track everything to this job.'I
President Wilson continue?
close attention to the fond costfjjr
leni and declined a proposal tr
pone his address to eongrep
Tuesday next week, instead
Friday. Republican Floor
Mondell of the house, sugges
postponement because of abs<
members from Washington, b
president declined in the fof |
letter to the Republican leader)/
"I am very sorry indeed that'
not comply with your suggest
delay in the matter of my adtf
a joint session of congress. T
nation which impelled me laft i
to ask congress to postpone itjj
until niv recommendations c?^
suinnitted is still acute. I lib,
under very serious considerate.
proper action of the governmfi |
reference to the high cost c*
and 1 feel that it is my dut*
earliest possible moment to t'
> '
certain recommendations no>y
for submission to congress. |
"I have, therefore, asked th
p esident and the speaker to a'
if possible for a joint session
day afternoon next at 4 o'eloc"
I'rolmhle Suggestions.
There was no intimation fri
White House as to the nature >
recommendations the president
inn he in addressing congress. J
From the trend of the
merit's activities in an
.solve the living cost proble:^E3^L
ever, in the view of sevetal rlffn J
tlie president probably woulqt
with these subjects: ;/
Fnlargement of the provision*, y
the Fever food control law to ma
it operative after the proclamation
peace and applicable to shoes,
ing and ail life necessaries in ad
to food.
Legislation to reach the sin
individual profiteer as well ?
business" extortion.
Legislation to define profl
thereby making easier pros
under existing laws.
Laws to make speculation in
series a crime.
(Continued on Page 3