' ^SSU^D SEMI- WEEKLY. L. M. GRIST'S SONS. Publisher ^ 4ami*2 IJwspaper: ?Jfor the ?romofion of th$ jpolitiqal, S>oi[iHl, Jjgricultu^al and (^ommcrknal Jnter^sts of the |fo^. TER*I^!^?p^i ciro? ESTABLISHED 1855 YC RK, S. C., FRIDA.Y, JA.ISTIJA.KY 27, 19*22. . NO. ilF views and Interviews Uriel local Paragraphs ol More or Less interest. PICKED UP BY ElVgUIKEK REPORTERS v. Stories Concerning Folks and Things, Some of Which You Know and Some You Don't Know?Condensed ' *?? DxJtni, * ror ucuiwrv n??uniyi "Not more but better lawyers is the demand of the dean of a law school but his idea of a better lawyer is one who knows more law;" remarked one yesterday. "But I think that what the public means by a better lawyer is one who is less willing to help criminals escape Just punishment in return for pay." The Weather and the Weevil. "Well," said a farmer yesterday "if the weather the post couple of days hasn't been cold enough to freeze out the boll weevil there's nothing to the theory of the so-called experts on the bug to the effect that he can't stand a hard winter." Compliments New City Hall. "By the way," remarked a traveling salesman the other morning, "you people are to be congratulated on yournew city hall. "My business takes me into practically every town in the south and I want to say that I know a number of towns and cities four times us large as Yorkville that haven't any thing like as nice a city hall as you have hire. In my own state of Pennsylvania there are a number of much larger towns that haven't anything like as nice a city hall building." The Irish Question. "Don't get tho idea that there has been any break between DeVa?era and Michael Collins over the temporary settlement of the Irish question," said Rev. W. A. Tobin, pastor of the Catholic church in Rock rflll, who was discussing the Irish question with Views and Interviews the "other day. "DeValera and Collins have been the leaders in the battle for Irish freedom for years and I don't think that It would hft nnsKihle for them to sDlit over ac ccptance of the British lerms which puU Ireland on practically the same basis as the dominion of Canada. The two leaders evidently want .the British government to think that they have come to a parting of the ways in the interests of the cause which both represent. There is no question to my mind, however that they Rre both more Ihterrated in Irish freedom than they are in their personal fortunes." Rev. Tobin who Is a native Irishman, having been in this country only a ferw years Is a man of education and culture and one of the best posted men In this section on the Irish question. He is an ardent advocate, of freedom for Ire'and and is personally, acquainted with many of the leafllfre advocates of a free Ireland. He haw two brothers who have been members of the Irish republican army and who have taken part In much of the fighting between the Irish Patriots and the 9oldiers of Great Britain. In the course of his conversation the other day he said that he did not feel that he was under any obligations to Great Britain for the concessions that she had made toward Ireland and he gave it as his opinion that those in Ireland who had been struggling for freedom feel about the same as he does. Bucket Shop Buncoing. "Speaking of bucket shops and bucket shopping." said a victim of a recent bucket shop squeeze this morning. "here's an article by Claud R. Collins, a staff correspondent of the International News Service in New York which I clipped from a New .York paer,' that is illuminating": . American investors have been defrauded of more than $6,000,000,000 during the past four years, by Wall Street bucket shops and financial swindlers. An amount in excess of $750,000,000 was extracted from green investors by these money sharks during 1921. This was a poor vcar. being far under the throe years preceding. Banner years were 1918 and 1919, when $1,500,000,000 was obtained through fraudulent brokerage operations during each twelve month pev riod.' These startling facts were bared today bj>* ont of the most prominent authorities in Manhattan's great financier distrfct. The "Bucket Shop" bugaboo of America's financial history is primarily blamed for this as.to.unding swindling evil. , ' Tte'eCntly the bucket shops have run Against 'it stone wall in the nature of a steadily rising financial market. A bucket' shop cannot live when stock and bond quotations are climbing upward. Swindlers cannot work their frndulent processes when market quotations show their investors are making an ever increasing profit on shares, for which they have placed orders. During the past few weeks a half dozen Wall Street brokerage houses have been cast high on the financial rocks. Several among the biggest and best known houses in the street were cast down by the glare of publicity. Their books have been laid bare to public inspection?where they kept any books?and in several cases financial experts'5have found concrete cvi/ 'V " ~ _ ... donee of bucket shop methods, and fraudulent operations. Yesterday an old and well knewn financial house rani its head against the stone wall; today another. And so It will continue until Wall Street authorities say, all of these fakirs will have been forced to end their malicious practices. Taking advantage of this condition a campaign Is being launched by a ring of legitimate bankers and brokers backed by the New York stocK exchange, the American Association and the New York Bankers Association to blot out this cancer In the financial system of the country. An investigation of Wall Street, which will throw every house under the scrutiny of legitimate financial wizards, will be started in the immediate future. Steps will be taken to force those regarded with suspicion to close their doors. The method of the bucket shops are varied and interesting. The story of | their activities as told me by the financial expert today disclosed adventures with other people's money as romantic as fiction. He said: "A bucket shop is a financial house which conducts a fictitious business In securing securities, stocks or bonds which arc seldom pure! ased, on orders from a client. The fake broker merely makes a bookkeeping entry to that effect. W.ien *his entry shows the customer's money has been lost, according to market quotations, the client is notified to nut un mora for margin or is wiped out. 'Professional bucket shoppers calculate that investors will*, usually lose their original deposits in from six to nine months. If this docrj not occur the broker advises the client to sell out and take his money somewhere else. If he can't get it quick he doesn't want it. "In an advancing market, such as now exists, the bucket shops have a hard battle as the public is usually on the long side of the market. 'Unless clients can be induced to over-speculate there is but. cne expedient for the broker. Thnt is bankruptcy. "A bucket shop is seldom connected with the New York stock exchange. Txf buy stocks listed on the exchange the bucketeer has to give an order to cn exchange member. This means that %? nnn^iflneo oil pnmm icqlniTi On the deal. Therefore, as an Inducement to the public a per cent on debit balances growing out of the marginal purchases no matter how high the call money rate goes. They are able to do this because the customer has never held any stock or had a debit balance. "They also usually Inform investors they have no securities for sale, being merely In business to buy or sell se ouritles for investors. Most of these firms, however, at one time or another, float fake mining or oil shares. "One good indication that a brokerage firm is a bucketshop is the refusal of the stock exchange to grant a permit for a stock ticker. When t>. brokerage firm wants a stock ticker application must be made to the quotation commitcc of the exchange. If they show a clean bill of financial health and are considered above suspicion, they are granted permission to use a ticker. Otherwise they are refused, and a refusal generally means that something is wrong somewhere. "Where a house is granted a ticker and the exchange later learns business is not being conducted on the level, the machine is ripped out without 3elay. "Some bucket shops have a policy of buying about oi.e-third of the cecuHties expected by customers. This is dene for protection in case of nn Unexpected visit by the authorities. In case securities, they are supposed to be holding for clients, are demanded, they can, in this way, show parts of them and claim the remainder have been placed as collateral on loans.' LONG FEUD ENDS Judge's Words Break Barrier Between Mountaineers. Members of the Benge-Martin feud factions, seventy-five of whom made ? i peace ana snooK nanus m i..c . court room in Manchester, Ky., last | week, returned to their home shortly afterward. Dread lest their homes be burned or riddled with bullets during the darkness was gone from the hearts of many mountaineers. Peace came unexpectedly at the close of a four-day hearing on peace bonds, more than one hundred of the clansmen having been summoned into court, whik; Hfty National Guardsmen, were on duty in and around the courthouse. Judge Hiram Johnson, after placing forty-six of the men under bonds ranging from $500 to $3,000, lectured them, urging them "to act like men, shake hands and become friend'y noighbors again." Then, almost before the spectators could realize what was taking place, the line in rival camps in the court room was crossed and. following the example set by the grey-bearded leaders, the feudists were clasping each other's hands and calling each other by their first names. i lie leuo iunoweu ine siuyiug ui Wood Benge by Steve Martin after the nien had quarreled over a shotgun stolen from the former and sold to the I latter. Six men were killed, sixteen persons, including two children, were shot and more than fifty homes shot up. On Christmas day three men were Shot to death in a battle in which a dozen participated. SAVINU OUR FORESTS Urgent Need for Immediate |Appolntment of Commission. THE MILLS k WOULD PAY EXPENSES Natural Resources Must be Conserved and Developed or South Carolina Will Go Backward?State is Now at It's Wit's End to Raise Money? Noted Writer Suggests a Practical Plan. (By James Henry Rice, Jr.) In order to provide forest protection two things are required. One is action by the state; the other is, cooperation of citizens. 1. Action by the state might begin by the appointment of a commission to inquire into the situation and report Lack its findings to the General Assembly for action. The commission should be required and empowered to employ a trained forester to ascertain the facts. Without such a man the commission, would be helpless. Out of this would grow a State Commission of Forestry. Now, for fear somebody will raise the cry of more offices, it is Just as well to point out that such a commission would be paid for out of a tax on the output of the mills, something like ten cents a thousand feet. Forest protection is now well understood. The National government is spending a great deal of money annually to save the forests and has a finely trained body of men at work. But the first step is to get at the facts. It is true that the facts are fairly well known now. The U. S. Division of Forestry has reliable statistics and could at once take tolfl of the proposition; but perhaps it is just as well to let the General Assembly wade in and learn something for itself. 2. Cooperation by citizens is necessary in any event. This is best exerted through a State Forestry Association. So far as I can learn South Carolina is the only Southern state without such an association, and the fact * ?"roduped In a!'year, don't allow 200 million to be gambled in. If a man had & certificate ear for 100 bales of actual cotton, allow trading in the actual cotton In existence as often as desired, but to allow this 190 million bales of pure imagination to be gambled in is entirely unfair to the producer and fixed his price? Don't allow anything impossible to exist, fix the price of anything actually,.Jn existence, simply because lota of people wish to gamble, and It might interfere with present arrangements. Of course, there are millions invested, but there is a lot invcted at Monte Carlo and Monte Carlo doesn't play on the welfare and almost life of human beings. Confine the trading to actual existence and then stop, even though some might lose the commissions on more than a hundred million bales of imagination. Have we had actual supply and demand fix the price of cotton except during the world war when it was a thousand points higher than this imagination? Don't we often hear "the farmer is ignorant, got no sense?" Will grant so much if desired and that all the sense is confined to the towns and cities are we showing it? Isn't the former the foundation for practically all of us, our very life, and if we knock and knock till we knock down our foundation, will our house not fall? If the world considers it the correct thing to allow "local professionals" or "operators" or "traders" or whatever they are "Wall street and the Waldorf crowd," the privilege of depressing the price of the farmer's ) product to a point or bare existence by manipulating a purely fictitious and non-existing product, should they not consider it equally the correct thing for the farmer to decide to stop producing the actual product? If we "bust" the farmer, will it not come very close to putting the best of us out of business? Could, the chambers of commerce of the country do a better real work than to try to build anew our foundation on a solid basis. May we not be playing with fire? May not the farmers wake up and realize their power? May they not determine to raise enough of food and clothing for themselves and say to the world, "We can live if you can't?" ' Would it not be a sure enough calamity If the farmers decided to strike? Would it not be a good idea for the American people to stop and think or might there not be the devil to play? Cannot any one or any class be down to the limit and might not the farmer be approaching the limit? JOHN T. RODDEY. I Rock Hill, Jan. 24. Quit# an Artist.?"Have you heard Spinem's latest fishing yarn?" "No, I haven't," said Mr. Glumm, "and I don't want to hear it." "Why not?* "Because Spinem. hasn't even speaking acquaintance with the truth. He couldn't describe a smallpox epidemic without making you think it was something you'd hate to miss!" THROTTLING THE PRESS Bill Before Congress WoaM Prevent Newspapers Printing Sporttig Neil . MEASURE REGAINED AS .DANSEIBBS ' i V K j Many Sanatara and Othara Ana Oppo?ad?Nawspapar publishers Ara A'a? Vary Active Against the Sill?Would p> Alto Bar MarKet ntwi ? ~. 8porta. : ' \;?By Frederic J. Haakin. r, ty ;, Washington, D. G?The congress, ot< the United States la now struggle, with the question of further rel^rtn legislation. This time it is, on the,jiqpa' of it, designed to hit at horse racing but as a matter of fact probably would prevent newspapers from printing news of any kind and give one gwern- ^ ment agency a fairly strong hold on .the press of the country. ? ? Professional reform agencies-are -actively behind the measure, trying. - to defend It from the attacks which hose come from every side. The btil now** before a sub-committee of the senate Judiciary committee. t There has been exppvosed before the committee not only fear (.of the Jm- SB mediate effect of the legislation, if It becomes a law, but-apprehension because of the general tendency ot aaob legislation. There hgs been freely ex- f pressed to the commutes holding the hearings the opinion that; the roeeaars is merely a symptom of the trfod of legislation toward regulating every* thing In the country, paralysing on? business after another by putting them into governmental straightjeckets. Senator Stanley, of Kentucky, one ot the strongest opponents of the bill, hfe this to say about the measure: , "When you have placed ? censorship on the freedom of speech and the pcyaa you have not merely Invaded one constitutional tight: you have imperiled thorn all. Destroy the freedom of the press, and your hando arp unshackled to destroy the freedom-.0fc c9fi*eiefieei immunity from arrest, -?r,-.aJay othdr outrage or act of tyrgrtfif. Qgafcu^ which the people aro not jfrptected"#? constitutional guarantiee.",'> ' " This, the senator think Vie the worst phase of the "legislative Hoi " afflfei* lag the country. . r %>* f r It has been panted out tft t^a committee that passage of the bill, uhlMa the president vetoes it,,wojilcJ impo#6 restrictions on the^^^^|j^g^p^^ worst. Far*rsacHf*t If^eaU. , 't The bill would Jirbvlde that apyppe guilty of sending information through, the mails upon which betting odds could be based, or of sending the actual odds, could be sent to the penitentiary for a period of five years. A strict in-* terpretation of this would work out. 40 that a school girl writing to tor parents that she had bet 10 cents on a basketball game could be Imprisoned, Senator Stanley pointed out this feet to tho committee, and added, "It sua? be se.id that the Judges would not impose such severe penalties, but ^ ope might be found occasionally who had ao little sense as the senate of ttvs United Stateo." . > Opponents of the alleged "censorship bill" have pointed out repeatttary. that the legislature of any state where racing la permitted could have at) the tracks in the state closed within 10. minutes after the legislature convened, If it was oo desired. Newspaper publishers and the American Newspaper Publishers' Association have been very active In opposition to the measure. It has been point-' ed out by S. E. Thom&son, one of the officers of this organization, that probably not more than 10 per cent of the papers included in the membership of ' the association print mclng tips of any kind, and not more than 20 per dept. racing entries and the results with betting odds. . * "Under this law as it Is drawn," Mr. Thomaoon pointed out, "under aa autocratic administration of the postoffice department, we could no longer safely print the fact that a notorious embezzler had won 1500,000 at Latonid, that large sums were being: wagered on a prize fight, or that oA account Sf large sums bet, the faculties of Princeton and Harvard .had begun an invest!- 1 gptlon of betting on football games. First 8tep in Prtgram. "This la the first step In the program of the reformers," Mr. Thomasott went on. "They would be before you later with some similar argument about stock gambling," As a matter of fact, strict lnterpw-. tation of the law might prevent newspapers from printing the prices ,of stocks and bonds and the dealings In them, if the postofflce department should choose to be severe In Its administration of the law. The ridiculous side of the proposed law was shown by the fact that in some states to tip a man off on a horse race might incur a penalty of five years In jail, while being convicted of "involuntary 1 u. ? |? mama m*n maiiDiauKiuci ?ii AIIIIUQ ^HV ?? ; would result In only three years in the ponitentiary. Thus it would be ttr better to kill the man than tell him anything1 about the prospecta of some horse. Mr. E. H. Baker, of the Cleveland Plain Dealer, told the committee that strict enforcement of the proposed law would result in suppression of aboutdi (Continued on Page Eight). .'V m4 'x / 1 . .-.v. uMOl