The Abbeville press and banner. (Abbeville, S.C.) 1869-1924, September 17, 1920, Page PAGE FOUR, Image 4
Established 1844.
TIJE PRESS AND BANNER ji
ABBEVILLE, S. C.
The Press and Banner Company !i
Published Tri-Weekly j
Monday, Wednesday and Friday. ~
Telephone No. 10. ;
Entered as second-liass matter ai (
port office in Aoheville, S. C.
" x
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Tenu of Subscriptiont
One Year $2.00 j Six
months $1.00 j
Three months .50 j
i ir r>T^nT<Tr>^? r>tr"T> it i rum I
r1, jLr iJ i, w.J ;
IC
HAVE BANKS A LEGAL ! v
RIGHT TO COMBINE j c
TO RESTRAIN TRADE ? \
!v
If all the steel and iron companies j
in the country openly combined to a
lessen the volume of their output for c
the express purpose of breaking down v
business interests they would be hal- j
ed before the courts and denounced j
as violators against the law which r
I
forbids the restraint of trade. j a
But a combination greater in its f
power for evil is busily at work. Un-!a
der the leadership of the Federal Re-js
serve Board the barrks have carried f
on a great campaign "in restraint of t
trade" by restricting credit for the e
express purpose o? breaking down e
wages and prices.
We need not be reminded that a
banking business is entirely different.g
from the steel industry. The Manu-,e
facturers Record knows full well r
something of the difficulties of finance t
as viewed from the inside by real as g
well as by supposed financiers. An a
individual banker may very wisely at i
times restrict credit oecause ne nas a
reached the limit of his financial re- n
sources. Nevertheless^ when all the
banks in the country under one lead-. a
ership have definitely combined to ?
break down business by lessening the v
supply of credit, they have formed a j
combination in restraint of trade c
terific in its power for evil. j j
Whether the Federal Reserve :
Board and the individual bankers who 1
are members of it can be legally at- f
tacked on such a basis as this, or not, t
is another question. But the fact star-'
es us in the face that a combination t
" " * ' ^ ?1- -L. 1J
oi an sceei interests, wjucn wouiu uk i
regarded as illegal and criminal by f
the Government and by the country, 1
would have a small power for evil as \
compared with a combination of the 2
banking interests which have definite-(f
ly sought to lessen the supply of cred- r
it and, therefore, to lessen the vol- s
ume of business and the prosperity i
of the country. 11
We do not undertake to say that,
legally the banking interests can be t
handled by the Government for this I
restraint of trade, but w? do not hes- \
itate to say that ethically their action c
is more unjust than would be a coun- i
try-wide combination for the express
purpose of restraining the production r
of steel. jr
Viewing the matter of credit from t
t'r.s linkers' standpoint, we know 1
full well that they would scorn this
position as unworthy of consideration j
and say that the Manufacturers Rec- c
crd lacked all financial acumen, but
we long ago learned that bankers are F
merely human beings, and that their t
judgment is rarely, if ever, superior i
to the judgment of other business
men. Indeed, we are rather inclined r
to accept the view that as a whole c
I
the banking fraternity of the country a
is so completely obsessed with the 1
belief in its own infallibility in deal-!
ing with finance that it can never t
i
) realize that it is of all interests one v
of the most fallible. j t
One day last week the New York
money market was very tight and the' I*
rates were very high. The next day t
tne can loan rate was very much low-j ?
er and the financial dispatches from c
Wall Street said that a large amount t
of money had been loaned out at a 1<
low rate by a big banking interest c
for the purpose of bettering the fin-[
ancial situation in order to prepare c
the fiarket to welcome the early an- ii
nouijcement of a French loan short- r.
ly to! be issued in this country. h
How is it that money can be so &
exceedingly tight one day and so c
easy the next day? How is it the Fed
eral Reserve Board, created for the v
express purpose of preventing such c
a situation, has not been able to meas-' h
ure up to its supreme opportunity to c
be a really great financial agency for I
the nation's advancement instead of v
following along in the same pathway c
which for yea is Wall Street financiers r
have been marking out to their indi
lilucf. i '.vf.t, but largely at the c?
:)ense of the country?
Might it not at least be worth whil
"or the Government's law depar
nent, which is so vigorously chasiin
profiteers and denouncing all who ai
unposed to be acting in restraint c
:ade. to investigate the legality of
onibinatlon of all the banks in th
ountry joining hands to lessen th
,-olume of credit for the express pui
:ose of bringing about a restraint c
.rade??Manufacturers Record.
rwo MEN CONFESS
ROBBING MAIL OF
$300,000 IN BOND
Atlanta, Ga., Sept. 16.?The ol<
>ld story of a desire for "high life
vhich prompted a carefully-planne
conspiracy to get rich quick by rot
>ing the United States mails, was rt
ealed Thursday in the confessions o
<ulus Kignt, a youtn a nine over z
md C. C. Monroe, a railway ma
jerk, to the robbery of Souther
ailway passenger train No. 36, A1
anta to New York, last Monday.
Liberty bonds and secuuritie
nany of them non-negotiable, value
it upwards of $300,000 were stole
lorn the registered mails. Monro
ind Kight made a complete confe?
ion Thursday, implicating W. I
'"ranklin, until Wednesay a conduc
or for the Georgia Railway and Pow
r company, as the instigator of th
ntire scheme.
Early Thursday afterno6n Kigh
;nd Monroe were held to. the federa
;rand jury under a bond of $5,00
ach, in default of which they wer
emanded to jail. The charge is i
hree counts?conspiracy to rob th
;overnment, mutilate of mail sacl<
;nd embezzlement from the mail:
'ostoffice inspectors have taken ou
. warrant for the arrest of Frankli
iow being sought.
Soon after the robbery Kight wa
rrested in a hotel at Homerville b
Sheriff P. R. Lee, of Clirich countj
tho brought him to Atlanta Thursda
ie implicated Monroe, who promptl
onfessed when arrested. Search fo
'ranklin revealed his flight.Postoffic
nspectors stated Thursday that ev<
y effort is being made to locat
"ranklin on a charge of conspirac
o rob the mails.
The story of Kight and Monroe c
he plans for acquiring wealth b
obbing the mails reads like a pag
rom a novel. Months ago the tw
)oarded at the same place. Kigl
vas just out of the military servic
Honroe, who had come to Atlant
rom Eagle Springs, N. C., had bee
learly two years in the railway ma
;ervice and was saving his mone
o marry a girl he had been engage
o for a long time.
Then, according to their stori
hey made the acquaintance c
fiaiiklin. One night, when the
vere all discussing the future, som
>ne suggested that riches brough
mmeasurable pleasui-es.
<4MnnvAO?c omf if co-ff cnmonr
.? W. ^ t) W MVW.VV.I
emarked. "Just think how he coul
ob a mail bag, pocket the monej
>eat it and live high the rest of hi
ife."
They passed the remark off as
oke. Later, they said, the questio
ame up again.
Later on, under the persuasion o
>lenty of "high life," the two state
hat they began seriously to plan th
obbcry of the mails.
"I was over persuat'ed," said Mon
oe. "I felt like I was going to ge
aught. There was some liquour an
. lot of talk and you know ho\
hings like that go."
Franklin, according to the inspec
oxs, apparently had very little to di
rith tfce actual robbery, further thai
o join in the alleged conspiracy.
According to the confessions o
tight and Monroe, Kight boardei
he train in Atlanta as a passengei
it Gainesville he left the passenge
oach. Monroe, whose duty it wa
o see that the mail storage car wa
ocked, left the door ajar and Kigh
limbed on.
Kight, alone in the mail storagi
r-v\ n /I ^ ^
<xi, uiauc way tu tut uuui icau
ng into the. mail ca^ in which Men
op was working. Monroe hande<
irn a bag of registered mail. Kigh
lit the bag open, pocketed the se
urities and left the train at Toccoa
Kight made his way to Homerville
/here he went to a hotel. At tha
ity he saw his uncle, H. S. Burk
alter, representative from Clincl
ounty in the state legislature. Mr
iurkhalter, surmising that somethinj
/as wrong, called on Sheriff Lee wh<
onnecting Kight with the x*eporte(
obbery, made the arrest.
Po.-rofficf in?p2ct:.-r.= early Thurs
day afternoon had not completed
1 their inventory of the securities. It
le was stated that while there were
t-'some Liberty bonds in the rifled
g pouch,'many of the securities were
ej non-negotiable. Accompanying Sher-1
,f I iff Lee to Atlanta with his prisoner!
a! were Postoffice Inspectors Clyde
ie! Fleming and Robert Barry.
i
6| NOTICE TO R. A. MASONS
r". V
! A Stated Convocation of Hesperian
j Chapter will be held Monday evenj
ing, the 20th at 8 o'clock sharp. Business
of importance to transact. By
j r rder of the E. H. Priest,
s; T. G. PERRIN, Sect'y.
Wasps have a capacity for recov'
cry in accordance with their remark^.able
muscular powers, and will
' ? * -X * 3
speeuny emerge xrom stupor muuced
by a strong dose of chloroform.
ij WANTS I
i ??? ? ,
s WANTED?Colored girl for general
j' housework; family of two. Apply
30 Wardlaw St. 9,17-3t.pd
'
e
. I FOR SALE?Pears for preserving.
f | Forty cents a peck. Mrs. Grace
"j Hemphill Rogers, Phone 1. 17-3tpd'
'*! |
e FOR SALE?One practically new
j five-room house, in Fort Pickens.
Newly painted. A bargain. Applyj
to T. H. Cobb. 3t-9-15-pd.j
n ' I
v HAVE YOUR COTTON GRADED?
0
Dou you want to know what you
i are selling? Have our Cotton Grad-'
> er to grade and staple your cotton
^ , and find out what it is worth. Of-'
^ fice over National Bank Bldg. Office
hours from 9 to 4 p. m.
nj W. A. Rowell, Co. Agt. 8-17-6t.'
| . J _
S FOR SALE?One Ford Coupe and i
y
two Sedans in stock for imme- j
r' diate delivery. E. F. ARNOLD.'
y 3 ti. c.
y _j
?-?
>r
e FOR RENT?One three-horse farm
j. and one two-horse farm. Apply t .
e J. H. Penney and Mrs Ada McNeill
y Abbeville, S. C., Route 1. 9-15-3tp
" I
^ FOR SALE?Orchard of fine Keiffe
y Pears. One hundred bushels at
,e 80 cents per bushel. Fifteen to
!0 25 bushel at $1.00 per bushel. j
lt Mr?. C. L. CONNOR, Cokcbuvy,1
,e S. C. 9-15-ltpd.i
a
_ FOR 5AI F.?Onp hrand new G-room
il Bungalow with all modern conven 1
y iences, on Magazine Street,
d The Home Buuilaing Corporation,
; See T. G. White, Pres. 9- -tf.cj
h
CONTRACTORS AND BUILDERS?
y Save 10 to 2? per cent on Floore
ing, Ceiling, Sidfng, Laths and
it Shingles. Buy in car lots. Send list
' for delivered prices. Greenwood
e Sales Co., Box 435, Greenwood, S.
d C. 9,13.-26wks.-c.
s' HAVE YOUR COTTON GRADED?
( Dou you want to know what you
are selling? Hav? our Cotton Gradn
er to grade and stapl??your cotton
?"'! nut if ic wnr+Vi Of
? fice over National Bank I^dg. Ofj
fiee hours from 9 to 4 p. in.
e W. A. Rowell, Co. Agt. 8-17-6t.
HEMSTITCHING and Picoting at
tachments, works on all sewing
i MICKIE SAYS:
J OLD SWCSLOCtt W0UAC9\
/viCMte COOVD -rcu. A iettowcwm
0 I PWVTfeD AT TUV3 OPPSCE BV -rue r
n [ wv<.m ow rc?
y OOSt UVN P\M<&tttEO JOO PfclVTTfeR
1 \ pme AW OMI host*.
1 \Vu ?AN AttG, ^ ABT*et Kit J
3 \ O&GWt W ?OW! too UMOCkC/
V^oor <3C*J? Vi\mN /
r ^s_PQivmw?\ ^nr
' ipvot I \
owQ CV
1 guourzog
' i \
I Qountu Sao*
When You Dr;
" 4 ' '?*' s...- .... .
Y our Next Sab
* ,
Take out wha
bring the balanc
BANK Account,
here regularly a
accumulate with
? efw years one d<
Sj two dollars will'
I ~ like getting bacl
B every dollar you
S Do not put it o
3 you will accumu
I County Sa^
| TODAY AND B1
1 SOUND SAF
wg \
fja G. A. NEUFFEE, President.
S3 ALBERT HENRY, Vice-President.
machines. Price $2.00. Personal WANTED?Young
checks 10c extra. Light's Mail Or- to 30, to take
der House, Box 127, Birmingham, Board, room, lau
Ala. 8-27.-9tc. $10.00 per monti
| A Good Bank F
i i a i /* n /i
All Classes ot 1V1<
\
sjBsassemac i ct mlmTHIS
SAFE, strong ban
Merchant and Farmer, t
man and the man of leisu
has th customer received
treatment, and been ext<
dation that his business i
rant.
To those who would
transfer an old one, the c
| extend a courteous invita
pond with them, all conf
as of a strictly confident!
WE PAY 5 PER CENT. INTEF
PARTMENT COMPOl
Mr. Farmer, it will pay you to see u
ton stored in the Farmers Wareho
BANK WITH A STRONG E
'\d -CARRY YOU.^ Jlj
-MAgE OUR BANK
j***
Farmers Bank of i
I
t ABBEVILLE, SOUT
Hjinmsoii. President.
.0 G. SW"KTKNBUR<i. .
HUB
Lngs S^ank \I|B
aw
\iy? j
t money you actually need a^id I
^e to the COUNTY SAVINGS
i
Your spare money deposited
TV* M
nd earning liberal interest, will
I ' I
i surprising rapidity. And in a ' V
Dllar will buv about as much as
buy today, which will be almost I
: two dollars, with interest for
?
save.
ff, the sooner you begin the soonlate
a nice sum of money?go to ) J
zings bank ft f
EGIN SAVING. , 5 1
I
. .
lis
? SERVICE g
* . |li
R. E. COX, Cashier. ?
P. E. BELL, Asst. Cashier. - J
I
gg I
women, ages 181 ble for State Board Examinations. j
nurses' training.' Address: Superintendent, Sr. ' |
mdry, tuition andj Mary's Hospital, Athens, Ga.
1. Graduates eligi-' 9-6?2wks.c
? V 'i
or Ir?|
en f Jlii
- \
-/ %.' . sfil
in ?t,?
k is patronized by the ^ \
he progressive business
re; and in every instance >
[ prompt and courteous
snded every accommo
and balance would warJ
' ' / 'V- /<;
I open a new account or
ifficers of this institution
tion to call on or corres|
i
erences being regarded j J
ial nature. . ' . 1 />'^
\
>I7QT IN m IR SAVINGS DE
iJUk/ A JLA 1 w WA% A V '
JNDED QUARTERLY. '
s about advancing on good cot1
'
use, Abbeville, S. C.
SANK WHICH IS ABLE TO . ,,
\s uJy., XJlT.i \ |
; ,yphr bajwom yon ' I
Abbeville County,
H CAROLINA. _
.1 n THOMSON. Mushier. II
Vssislunt Co shier. |
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