Historical Newspapers of South Carolina

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HARDING AND BYRNES JUMP INTO DISPUTE Over Federal Reserve Policy?Board Chief Angry Washington, Dec. 4.?The Con gessional joint committee hearing on the agricultural situation developed today into a dispute at times quite : heated, between Governor Harding of the Federal Reserve Board and; members of Congress. "Mr. Chairman, what Is the pur-; pose of this hearing" Governor. Harding finally demanded, while he i questioned Representative Byrnes,' Democrat, of South Carolina. "Is j the Federal Reserve Board on trial; ? ? T V?ft /tnnlimiDrl Bill 1 UI1 Ll iai lici c . uc vw?w?.uwv., declaring he has been a target for "all kinds of abuse." Representative Byrnes said he meant no reflection on Governor Harding. Circulars issued by the regional reserve bank of Richmond, Va., to member banks, and which Mr. Byrnes was attempting to show had resulted to rigid restriction of far mers' credits were under discussion. Governor Harding said such circu lars were not submitted to the board until printed when they were looked over and attention of the issuing re gional banks called to anything the board deemed unwise. Not a Central. Bank The board, he added, was not a central bank. x Senator-Select Heflin, Alabama, asked Governor Harding if the law makers could issue a statement to the public as understanding his testi- j mony to be that the reserve board j was favorable to banks extending all the credit possible to farmers. The Federal Reserve Board pre fers to issue its own statement," Governor Harding replied. Approving efforts of the Rich- j mond bank to restrict loans for non- i essential purposes in 1919, Governor! Harding said: "I know some banks in South | Carolina had been carrying large j loans on cotton, since 1917, in the face of an active market." TT/\l/4in<* cu/tti /inWnn thon )io nrlH. I edf on reserve bank funds was j "plainly speculating." ' Houston Sees Nothing Secretary Houston, who preceded Governor Harding, strongly opposed projects to Tevive war financing sales abroad of surplus farm prod-j ucts. Present price declines were due to readjustments following war, *he said, and he saw no solution for the problem although the treasury department had voted more thought, to this than to any other subject for | the last two months. Answering the charge of profit eering on the part of the reserve fTi .CI I ' ! 4 * ? ".? * TAKF. I 201 | ANC ill Hp I I ni vvv i rriiLn banks Govenor Harding said they' had earned 6.9 per cent on their capital stock of $100,000,000 and the reserve balances of the banks amounting to $1,800,000,000. Doubt that exports could be in creased unless some way was found fov increasing Europe's buying pow er and ability to furnish requisite se curities was expressed by Secretary Houston. He did not see, he added how much relief could be expected at his time in that way. He had no doubt, Mr. Houston said, that the war finance corporation would "function" should Congress recreate j it, but he added: "I believe it would be against the public interest." ROBBERS GET 100 PIECES REGISTERED MAIL. | ' Minneapolis, Minn., Dec. 4.?Two J masked bandits entered the mail carj of Chicago, Milwaukee and St. Paul passenger train No. 6 just outside the city limits this morning, bound the crew, and escaped with a hundred pieces of registered mail after jump ing from the moving train. No estimate of the value of the packages was made by postal author ities or police. The three clerks in the car were lying bound on the floor when the train stopped at the station. Police. Knn/lifo nfAvo nn Kv I UCUCVC WUC L/auuibO ncit |#ivnvu w|? wj the train. Bank Robbed of $6,000. Ridgeville, Ind., Dec. 4.?Six men held up the Ridgeville State Bank shortly before noon today, seized ap proximately $6,000 in cash, and es caped in an automobile. Bold Daylight Robbery. Columbus, 0., Dec. 4.?Five armed automobile bandits in a bold day light robbery, secured $5,000 in cash $3,000 in Liberty and non-negotiable notes valued at $169,obo at the First National* Bank of Grove, 12 miles southwest of there today and escaped after locking occupants of the bank: in a room. Columbus police are in j pursuit. 1.000.000 BUSHELS OF POTATOES ARE HELD IN MICHIGAN; Traverse City, Michigan, Dec. 4? j Potato buyers here estimate that Northern Michigan warehouses hold 1,000,000 bushels of potatoes for which the growers are demanding $1 per bushel. They are being offered 60 cents. Some buyers are predict-' ing a recurrence, next spring of the j experience of 1914 when hundreds of: thousands of bushels of potatoes werO; dumped. /V/N/ST>^>f>AV-VS/S/V>^S/*V><S/N/VS/N/S/S/S/^NAVN/N7N/VN/N/S/S/N/N/N/ SAVS HRISTMA 1RGAIN >v ADVANTAGE OF m 1/1UVV ) SAVE MONEY JDAY[PURCHA! SON & HE ^<>*-s^vs/n/s/n<s/s<-V~Vs/S^s/s/n/s/s/s^s/s/sA>/n^>^s/s/n/s^Vs/s/s/S/s/sA\^W iiniiBiiUBiiiiiiiiiiiiiinniniiiiiiiiiiiHi COTTON MEETING IN COLUMBIA WEDNESDAY ? i Columbia, Dec. 6.?The annual; meeting of the South Carolina Cot-'. ton Association in Columbia Wed- j, nesday, December 8 at noon in Cra- . ven Hall is expected to bring sever al hundred frmers, merchants, busi-1 ness and professional men to the , city. The meeting will last only one , day. 11 Only one set address will be made and that will be by Walter B. I Brown, editor of the New York | Commerical. Mr. Brown will arrive (' '? Tnae/lov niopVi'f anrl will Hp ' I Ill LUC -^1 \*y JL UtOUUJ M?<VB ?* >? I ( here until Friday. On Thursday he I will deliver an address at the \ annual meeting of the South Caro-'j lina Automotive Trade Association j at Ridgewood Club. jj President R. C. Hamer of the1! South Carolina Cotton Association j said yesterday that present- indica- j? tions were that there would large J delegations present at Wednesday's}! meeting from practically every J county in the state. I It is considered probable that a great deal of the day will be devoted | to a discussion of the acreage reduc ton program. The American Cotton Association is committed to a reduc tion in cotton acreage for 1921 of nor ppnt, and nlans will be dis-Ji cussed at this meeting to put the program into action. The senti ment in favor of acreage reduction is declared by officials of the associa tion to be very strong. The annual election of officers oc curs at the meeting Wednesday. The present officers are: R. C. Hamer, of Action, president; J. H. Claffey, of Orangeburg, vice president; John T. Mackey, of Camden, treasurer; Har old C. Booker, secretary and publi city chairman; B. F. McLeod, of Charleston; G. L. Toole, of Aiken; J. .P. Stribling, of Westminister; John B. Cannon, of Spartanburg; L. I. Guion, of Lugoff; T. L. Manning, of Dillon and T. J Kirven of SumteT members of the executive commit tee. Ex-officio members of the execu tive committee are J. Skottowe Wannamaker, president of the Am erican Cotton Associaton; B. Harris commissioner of agriculture; J. H. Claffey, president of the farmers 1 j Union; H. W. Fraser, president of , the South Carolina Bankers Asso- \ ciation; Dr. W. W. Long, director of J extension forces of Clemson College I and J.- Clifton Rivers, state ware- I house commissioner. i : I Dublin, Dec. 4.?The English La- j bor Commission, which has come to j Ireland to assist in diagnosing the j Irish situation, today began the ex- j amination of witnesses in the cases of j the reprisals at Balbriggan and at Croke Park. ! n s OUR lunt ON 3ES .INKY MILLS GETTING LARGER ORDERS Greenville, Dec. 4.?In a state ment obtained today from W. J. Thackston, important factor in the textile business here, he said that cotton mills of Greenville and this section are beginning to receive sub stantial orders again after several months of (dull business and that he believes that all will be able to re sume full operation about the first of the year. The substantial orders I 14 ] more shopping ] days until XMAS i A .1 i /\s in me past, o J and most complet ] have spared no pi [ 1 We beg to "annoui [1 that our Toy Dep. i! [1 ment is now op [ I for inspection 1= '' Hot Hustler Ra laraiTiizrafziHiHiEiiUisraiB Ge in tin* Every one in t be pleased with j Christmas mornir pleasure lasts thro At any moment t the world's great their chosen intei i i the very Dest n month's list of Records keeps y with the importar of the musical woi today; let us exp terms. AB] for cloth which have been received by manufacturers within the past few days are believed by local mill men. to be responsible for the slight improvement in the cotton market, it is stated. Mr. Thackston, who bases his statements on reports from leading cotton manufacturers of this section and from commission merchants, said that he believes things will become stabilized after a while, certainly after Christmas and tHt he thinks the first of the de pression period is about over. Re ur HOLIDAY STO( e to be found in this ains in making the c ever before ice art-, en i cket i ^ _ Tf! c a vicm. e for Chri he family will a Victrola on lg and their ugh the year, hey can hear est artists in pretations of ausic. Each new Victor rou in touch it movements rid. Come in lain our easy RRAV nRM mini i/itvi BEVILLE, S. ductions in wage scales should en able the mills to return to practical ly lull time after Christmas, he said. V ?SEE? -V r V "THE DEVIL'S PASSKEY" V V Picture of Paris the wicked, V V and Paris the wonderful. V V OPERA HOUSE, FRIDAY V V Admission _ _ 15 and 35c. V mtiEfiuaiaiaiBiiiiEiiiErafi IE CHOICE]! ij of first selections J are offered you. 2K is the largest ] j > section, and we ollection this year 3j r advice to you is buy early?stocks [! scarce and there [ be no duplicates. [! Store \bbeville, S. C. 1 i\ >la ^ stmas rii 1 I. a~ r* ' I ; co.