The herald and news. (Newberry S.C.) 1903-1937, January 04, 1907, Image 1
'Ia41 , *.lv ~ 2 1j
4V.
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V.OL XL V. NO.2. NEWBERRY. S. 0. FRII)AY. JANUARY 4, t.907.TWOA.EK.$50AYR
CHARGES PR, FXTED
AGAiN EXCHANGE
LIVINGSTON ANl JORDAN ASK
THAT IT BE TLAWED.
Allege That Now a k Cotton it
chAnge Haa Deve ed Into a
Gambling Mao. e to The
Detriment, of uth.
Washington, Jan. 2. Col. - Living
stone and Harvie Jordaf late this af
ternoon'filed their charga against the
Now York cotton exchar and asked
the postmaster general - issue a
fraud order. There are ight counts
in the charges and alon-. witi them
are submitted a number oi xhibits. A
striking one of these is t e official
market report of the Ne'ork cot
ton exchange issued ]ee. 8, "no
tice'' day. The price quol on fu
ture contracts calling for d( ery the
same day was 9.02 while th -rice of
spot cotton was 10.65 a disi rity of
163 points, a difference of , 15 per
bale. Discussing this Col. L-ngston
said to this correspondent:
''If McFadden or any othe cotton
operator had bought cotton it that
date at 9.02 and could have ecured
the actual cotton he could la, sold
it in the spot market and iakev pro
it on the 114,000 bales tradeditn on
the exchange that day of $11,41.000.
lie did not buy because lie knev:and
everybody else knew there was III Iot
ton to be had. If the New Yorkqot
ton exchange operated on the Mne
plan as the stock exelange or the -n,1
exchange.ln, ald Ia in ioried '
such is their character, ftiy, n t
keep on hand for actuial delivery qe
cotton traded in just as does the hr -
er who sells railroad or other ntoe .
I do not know that such is their h:.
acter and I have been unable to fi
out, but if it is true, they must ke
Scoiniercial salable cotton on hand l
meet their contracts."
Harvie Jordan says if lie had fifty
or a hundred thousand dollars to em.
ploy the legal counsel he would pu
the New York cotton bxcnange com
pletely out of business if its chartei
is the same as those of the stock ex
changes.
Zach McGhee.
- Associated Press Account.
Washington, Jan 2.-Charges o:
fraud were filed late this afterno<
with Postmgster General Cortelyof
against the officials and members ol
the New York cotton exchange bi
Representative Livingston of Georgit
and Harvie Jordan, president of th<
Southern Cotton association of Atlan
ta. On the charges tney filed thel
base a request that the postofice de
partment issue a fraud order agains
the officials and members of the Nev
York cotton exchange in order to bai
them from the use of the Unite<
States mail in conducting what th<
charges term fraudulenct pratices. Thie
Spostmaster genmeral referred his call,
Nera to .Judge Goodwim, assistant at
torney .general for thle postomee dc
partmnent. It is likely that a hiearing
will be held by Judge Goodwin befori
a determination of the question il
reached.
Representative Livingston and Mr
Jordan submitted to the postmaste:
general the following letter aceom
panying the charges:
Washington, D. C., Jan. 2, 1907.
Hon. George B. Cortelyou, Postmas
ter General, Washington, D. C.
Dear Sir: We, thme Hon. L. F. Liv
ingston, M. C. of Georgia and Harvi<
Jordan, president of the Souther:
Cotton association, Atlanta, Ga., here
*by 'respectfully request the issuanea
of a fraud order by your departmena
against the use of thme United State|
mails by the officials and members o:
the New Yotk cotton exchange an.
present our reasons for the same- il
the, following charges as outlined be
low, and' to.which we most respectful
ly invite your careful attention.
* - Yours truly,
L. F. Livingston,
Harvie Jordan.
Charges in Detail..
Following are the charges presente<
to Mi Cortelyou:
'~We chaarge that Newv york ha
ease<d to'be a commiercial a 'pt eot
tan market and- that the Ne~ Yor1
cotton exchange, operating under its
present debas6d and fraudulent con
tracts, has developed into a purely
s'peoulative and gambling ehange
and that the grades of cotton shipped
to New -York and tenderable on the
contracts inder the rules of the New
York cotton exchange van not be used
for commercial ispinnmg purposes,
and that such grades of cotton are
used solely to depress the price of
spinnable grades in the South; to
futther the speculative features of the
New York cdtton exchange to the
heavy detriment of the entire legiti
mate cotton trade oZ the United
States.
"2. We further charge that the said
Now York cotton exchange through
its officers and menbers, is daily using
the United States mails for the pur
pose of transmitting and advertising
their business to the legitimate cot
ton trade of the United States, and
we charge that said business is fraud
uleint and said officials and menbers
of the New York cotton exchange
should be denied the use of the United
States mails. We refer you to copies
of letter hereto attached.
''3. We further charge that .the
quotations sent out daily on the de
based contract of the Ne\v York cot
ton exchange exercises a predominat
ing influence over the legitimate cot
ton trade to its great detriment and
injury.
''4. We further ce*arge that New
York city has ceased to be a spot cot
(on market for commercial spitnnable
qrades of cotton due to the present
debased contracts of the New York
eotton exchanlge, and as proof (f the
char-e we cite to vou the fact that
fromn the first day of September, 1906,
to Dec. 31, 1906, there wvas only deliv
ered froi that market 10.046 bales of
soot colon to shippers out of a total
of practically 8,000,000 hales of
American cotton placed upon the mar
kets of this country at other points.
''5. We further charge that under
ihe present debased and fraudulent
'mules of the New, York cotton ex
.hange a large number of unspinnable
l4w grades of cotton are tendered on
Iie contracts of said exchang-e which
Ie not permitted under the irules of
ny other cotton exchange in the
'ord, and we affirm that, such rules
v fraudulent.
' 6. We charge further that the
oi ial daily quotations sent through
th nited States mails by the officers
ail members of the New York cot
tol xchiange to their customers and
oth s, both as to 'futures,' and
'sp prices, are fraudulent in that
neii r represents the true and actual
valu, of spot cotton, .but that the
san i are from $5 to $7.50 per bale
less ain the market price at which
spin le grades of cotton could be
nuireh ed in the South and shipped
for i der on said fraudulant con
tracts ni an exhibit attached hereto
we sp ally call your attention to the
widle i forence existing between the
quotato is of futures market and spot
bale, skl difference clearly showing
a fraud jYour attention is also, speci
fically efled to thme omeiial quotations
in said 'hiibit of the ftures market
and spot arket of the New Orleans
cotton en ange, noting the close prox
imity bei4eeen futures and sp)ots of
that marie4.
''7. Wi urther charge that out of
the adveri ed stock of cotton at pres
ent storet the wvarehouises of New
- York city i4ounting to 114,000 bales
3 ;-fully 701 0 bales of said cotton is
of such ifrior grade as to render
~ the staple n)fit for spinning or man
a ufacturingpiirposes, and that a cen
t1 siderable pr'tion of said cotton has
been held mi~ said watrehouses for
yarsan if totally unfit for any pur
pose wvhate-er, except to be tendered
-on the frai ulent contracts of the
INew Yorli eitton exchange, to the
serious detmin cnt and injury of the
legitimate est ton tradb of the United
states. We :herefore ask that you, as
postmaster geheral ,of the United
States soend f representative of youm
department t' the waretiouses of Nou
1York city a'c have all the edtttoi
stored there i peeted 'and graded it
order to omffei.l y determine the char.
actor of the um pinnable and unmark,
etabie grirdes (cotton tored in thai
market to tender under the fraudulent
conrtacts of the New York cotton ex
change.
"Yotd petitioners Nurther state that
they have no desire to jeopardize any
legitimate transactions that are made
through any of the cotton exchanges
of this coitntry. There Is no fight
against the New York cotton exchange
as an exchange to be used for the pil
pose of safeguarding, protecting and
furthering the legitimAte cotton busi
ness of the whole country, but the
charges here preferred and efforts
made.are directed solely against any
and all debased and fraudulent con
tracts and transactions w,hich are at
present practiced by those who are in
authority in. making effective the
present rules and methods of that ex
change to the detriment and injury of
the legitimate cotton trade of the Uni
ted States.''
In addition to the formal charges
many letters and affidavits inl sup
port of thei were submitted to Post
master General Cortelyou. Represen
tative Livingston urge<t prompt and
decisive actionin the matter and Mr.
Cortelyou said the charges would be
given attention by the department.
Julius Caesar."
One of the most poptular actors that
the American stage can boast today
is Charles B. Hanford who will ap
Thursday Jan. 1.0 in a brilliant revival
of ''Julius Caesar.'' Tile play is one
wilichl requires enlolrmu11os resources
both as to scholarship and pecuniary
outlay? Mr. Hanford has contem
plated this revivAl for a number of
years, the enterprise beilnx espeeially
e')m"enial to h1im because it was in
'Marc Antony'' that lie made his firs"
r'eat success as a star. 1-is perfor
mance of this part with tile Booth
Barret comipaly was hailed by tile cri
ties with so much cithusiasm and en
dorsed with snchi unmistakable appro
val by the public that there seemed
no other course left open to him ex
cept to grasp the gollenl Opopitunity
which the foresiglt and generosity of
Booth and Barrett had placed with
ill his grasp. The Hanford production
this year will surpass all tlie previols
presentations under the auspices of
this favorite actor.
What Did They Mean?
'Tle puizzle department of London
Truth recently lid a competition Or
examples of unintentionally funny
paragraphs, either true of ''ben tro
vato.'' Here are a few of the amusing
specimens sent ill:
''We regret to announce the death
at Cairo of Sir A. B. Smith, hi4 Lon
don physician having recommended a
warmer climate.
Ill a. discussion oil the dress qf the
clergy a Nonconformist minister de
elared: ''As for me, I will wear no
clothes to distinguish me from my fel
iowmeln.'
This came under ''Il Memoriam'
column: ''In loving memory of,
heloved wvife of -, who died.
This is inserted by her sorrowved
daughters. 'What is home without a
mlothier?' ' Peace, perfect peace.
Extract from a last wveek 's para
Qraphl inl a fashionable advertising
journal : ''Persons desiring to buy,
sell or davertise any article, should
eive our advertising columns a chmance.
Don't go elswhIere to be swindled.''
The following advertisement ap
neared in a morning newspaper.
''Wanted, a gentleman to undertake
theC sale of a patent' medicine. Thle ad
vertiser gurantees that It will be pro
fitable to the undertaker.'
The following obituary notice ap
peared many years ago in a Somerset
weekly paper, nowv defunct: ''After
a long illness Mr. B -passed away
on Monday to thle inexplicable grief
of his family.''
Pay in Advence, Please.
Hotel Clerk (suspiciously)-Your
bundle hqab come apart. May T ask
what that queer thing is?
Guest-This is a new patent fire es
cape. I always carr'y it, s0 in case of
fire I canl let myself down from the
lintel window, see?
Clerk (thoughtfully)-T see.Ou
terms for' guests with fire escapes,
sir, are invariably cashl in advance.
New York Weekly.
DOL. BOYD'S CONDITION T1
IS NOT ENCOURAGING.
Passeed Bad Day and He is Regarded
as Somewhat Worse.
so
The State.
Greenville, Jan. 2.-Col. John C.
Boyd, wlio suffered a stroke of para- Ev
lysis here Monday afternoon, passed a I
bad day today and his condition to
iight is worse. He was moved from
his part'mients at the Normandie hotel ]
this afternioon to the Greenville sani- cet
torium. ric
A )pori from ihis bedside late to- So
iiight says lie is restinig well. His con- pe
dition is serious. tui
LAWS IN CHINA. re
So
They Take No Account of the Inten- so
tions of the Accused.
tot
The inlcompatibility of laws based pe:
un diverse civilizations is nowhere an
more marked than in China, says Ho- Te
sea B. Morse in the Atlantic. There
no bankruptcy law is possible. If a of
debtor's own estate will not sufice to cei
pay his debts the deficiency must be ly
made good by his father, brothers or vo]
uncles; if a debtor absconds his im
medi.te family are promptly impris- lin
oned; if the debtor returns he is put in<
in prison and kept thete indermitely, th<
so long as lie can ffind money for his
daily tood until released by payinent t lu
in full or by death. This is the law. in.
When in 1895 Admiral ring found it
himself *forced to sutiender Weihai- ph
wei and his fleet, lie cominit(ed sui- va
Cide. By this colragenl 1is step, tech- 114
nically dying libefore surreiiddri, lie hw
-ived his immediate family-~-father, ril
motier, sots and dateilirs-from de- w
capitation and their property 1rm n
coI ayi, (te ipenalty whenli a com- .1
man' 11 su1j rrenlders an11 imperial fort- pr
ress This is the law. all
Wl9 inl tle old days an English
gunner caused the death of a Chinese
by liring a salute f'rom a cannon from st
which by oversiglit tie ball had not w<
been removed, lie was seized, tried o
and executed. And inl 1839, when in th
tle course of a dist-urbanee with lig- gr
lishi and Anierican sailors at Canton
a Chinese was killed, the anthiorities a
demanded that if the guilty persol th
could not be detected anid executed sa
tile whole party should be handed .i
over for execution. This is the law. th
Intentioi is never taken into ae- ec
count. A dollar for a dollar, anl eye
for an eye, a life for a life, and all r1
for the emperor and his relresenta- re
tives-tlis is the law of China. m
t i,
An Attack on the Cloth. m
Gov. Higgins, in the course of a dis
clssion about churchgoing, told a
story of a quick-witted Scot.
''I don't at all approve of this v'
Scot,'' he began, ''but I think lie had
a ready wit.
"His inilister took him to task one a,
day because lie never came to church, tl:
golfing instead all summer, and erul- g<
ing all winter long. .p
"Main, main,' (lie miniisteri ended, e,
'if yc din no mend ye 'll laind yerscl ' m
whcre ye 'll no' he trmonbied wi ' ser- p
mons, lang or short.' er
"'Weel, ailn so,' lie said, 'but ei
o' for the want. 0' meeiiisteis.' '-p
New York Tribune. g
n<
A arnel Insinuation. m
Careless Acq(uiain tance-IHowv about. ii
that man you operated on for appen
dicitis last spring? HI
Young Physician (nervously) - i
Don 't talk shop so. Let's bury the Si
subject. gi
Careless Acquaintance-Glood gra- til
cious, man 1 You don 't mean to say
they haven't burigd him yet 7-Balti- t(
more American. ' tl
' A Good Judge. I~
Yorkshire Farmer (who has laid a
wager, to gentleman on weighing ma
chine)-"WilI ye tell us how mooch ti
te weigh, mister')'' Gentleman-Well,
I'm seveniteen stoiie seven.'' Farmer st
-'What did A' tell ye, lads? A' n
couldn't be wrang, for A 's t' b)est gl
joodire 0' swineC in t ' country!I''- p
Punch.
Mir. Tyte-Phist--'DTocter, does 'ite
cost anythuing to ask you whether I hi
need medical t re.atment or inot?'' Doe- e
tor--"Not a cent. My answver, though, t
will cos you in."'A.--Chicago Tiribune. a
*
1E WILLIAMSON PLAN
FOR GROWING CORN t
b
IENTIIO DISOUSSION BY t
PROFESSOR NEWMAN. t
t
idence at Recent Corn Congress of c
'armors Who Have Tried "Plan"
With Great Success.
U[ont Clare, Darlington County, De
iiber 21.-'' The Most important ag
iltural discovery ever 11111d inl the
uthern States.'' So says Prof Har
r, the brainly professor of agricuil
re at Clemson college.
'An anazing discovery, destined to
olutionize agrielture in the South.
says Prof. C. Lewis Newman, as
inte professor of agriculture.
'A success beyond (ulesHion and
far ahead of eixistinlg metthods to
rmit at comlparison.'' So say thlolls-f
ds of farmers, from Virginia to
xas, who have fried the plal.
A mecthiod that increased the yield
corn from 100 to 800 per cent. will
'tainly work arevolution-not mere
a chian,l but a ta reaching re
lution.
Nfr. E. Melver Williamson of Dar
-tim county has evolved a plan for a
-reasing corn yields that has (1one
se tlings iidicated above.
Lo muhel has been publislised about,
phln and s(1 So mnanly people are talk
, of it-so much hope rests u1ponl
-tail it is necessary to say that the
im has resnivil from teii years'
ulexperimniitationl. There was v
chan1lie inl ii. Parks (df thle phl had1(
Pit inl niv beftire, 11h11 as at wimle
I%l Ivilllilm 11 .1" brmli l it it (11 .1111
r.Williamson hats brou41ght it on1t and14
lile he doews no4t claim1 it .as perf,ect,
r even yvet 41m)plet-, e Im' does assert,
d the f'cts bac1ek it ilp, tilit the trule
inlciple ha1ls been l4oumnd aind on this
sullbseq(Ielt dvvvlo4pmenlt mnillst rest.
Idea of Stunting the Corn.
This principle rests on ITIe idea of I
unifing the corn. Stunting is thie
m1d. Thlis lay be done oil any kind
Soil, accordini.g to tlie verlict oi
e Calmiller.s at, tile 'vecent eorn11 eon1
ess il Darlinlt n, alt iollug1 Mr. Wil
timlson hliliself say]s lie has 110 river
11u1 an 111(heref'e kinows n*thi of
v effect (nI iis cini of soil. oiiers
y it niakes 1n4) differenee. Tie prin
ple is tlie saile inl every case, Il
ou1gh it may be varied according to
mdit ions.
The p1111 will be deseriled ill detail
Irtheri mn ill tile article. Someic of the
sults as obtained by practical far
eLr. are given herewith, And the tes
moniy was altogether votintary. Any
ie who has tried to get farmers to
Ik will reeognize how liard it is to
't evpressiols(. of opinlionl from lhiell,
id these evpressionls are the m11ore
iiable in liigt oC that act.
The Corn Congress.
At Darlington, Mn December 13 last,
meetiiv, hld been ealled to diseniss
ie Williamson plan ind there w
ithering in rnse of the , ..
lan1terIs of Da rliing1to 01an d a1djoiing r.
1.1 m1)iumers1'tand14inre as to4 the dlate,
>llege, assoc)(iate prorl')essor of' aI gri
ilt ure, who was asked to4 ac't as umn
ire was not present ando this was re
'et ted. As it turned out there was
1 1need of an umllpire, opinlioni being
innimous and oxperienlces practically
entical.
As published in The State, Mr. RI.
.Rogers, one of tho staunchest and(
ost conserv'at.ive farmers in the
tate, was made chairman of the cmn
'0ss and Mr. A. J. Howard, secre
ry.
Mr. E. MeTver Williamson, origina
r of thle plani, was calledl on to state
ec object of the1 meetinag and lhe did
4briefly, with characteristic point.
e0 spoke of it as "'our' plan" and pre
ris that it may lie called by some
ther name than his, but of course
as is no(w impossibile.
After briefly reviewing the p)1an hle
alted1 to the mneetingz that the far
iers 1)resents, would lie called on to
ie theinr experiences with the two
ans. 4the olId way and tihe WVilliam
m1 plan and said that while lhe knew
irmeris were not1 talker's that in this
ase everyv firmer shiouild 'oniderCI it
is duity to4 makue known his experi
ice. Time and( money had been spent
'i bring this plan to n working basis
11(1 the worl,1 should get the bietefit,
specially' the farmers of the South
rin States. 'For as the Southerin far
ier had been situated lie had to take
lie price for his cot ton which the
uyer set. But with plenty of corn
lie Southern farmer could bide his
ime, hold his cotton and the manufac
arer would have to pay value for
1tton.
Questions and Answers.
'Tie questions were: How much
orn was raised under the new plan
low much under the old way? What
inprovement was (here in land?
Vhat clianges were necessatry in the
riginal plan, as first published in t.he
lartsville Messenger?
Mr. R. II. Rogers said that when he
uit IlIanting corn, because it wgas un
rofitfable, he was raising from 10 to
5 bushels to the are rs a maximum
rop; the average was much lower.
'our years ago he began with the Wil
iamsoi plan anud the first season got
rom 310 ) t33 hmushels to the aere. The
ext year he planted 15 acres and
veraged 43 bushels. The fertilizer
ost $S an aere; the next. year, which
,as bad for corn, lie got. also 43 hush
Is average. This year tie averaged
3 bushels. There had been vast im
rovement in land under this method.
'he fettilzing material left was worth
11 of $15 an aere. The article in the
artsvIlle Messenger covered the case
tilly. (TPhis article was republished in
'he State, and is repuiblished again
m(iiy oil accmimi (of ts 1import (ance to
armlers.) 011 aere, on wliell lie
md pi. $25 w ,ot of I'vrtlizer he
lde 101 hushels and 17 (iiarls. There
'er1-15.0010 stalks on1 this avre.
Mr. J. B. Edward's Testimonial.
Alr. .loln 1. 1A wa1rd lest illed that
v knew Mr. Williamson, 11:141 cili
inee in him and1,1 lml kept his arlicle,
mt was prevented t mI i ollowing it,
hsolultel' on emmat ill' wet wenther.
Ie averaged abut 35 hishels, with
;9) wortIl of' fertili.er, in Ole fl(lowing .
iroportion: 100 )ounmls potash, "00
>muids111 nithrate of soda and 30o fbs.
leid IhIosphilite. 11e believed lie wonuld
imiye made 50 bushels if the lplan iad
>eenl fol1oed closvlV. L"and114 had er.
aillv been imiwov-el to the fill value
)f I'er1tilizer ulsed.
Mir. .1. T. 09i(mdson) gave mi interest
11g a(c llt o11 I w of Iis IliilbXors.
Uhr. E. W. Methilosh find made 45
mAhels with l $ worth of fertilizer and
krr. (i. F. Wallae 90 lmshIels witi
)00 Iounds ol' ferlilizer. i1r. David
I. oker here explailiedl that lie had
seei Mr. Wallaies* r and 4 it had
we galihered late, with fow\l,s feeding
mi it for over txw(i montTis. lie haid
leVer seei suchll a sight.
Mr. (loodson continued, saying lint
he hiniself haid made 30 hushels aver
ge where lie onl. parIly followe<l the
plan: whlree lie flollo)Iwe i it st.rictly
lie iad made .15 bshels. lie thonOht
tle oiinal plan all rii.lit and saw no
need to chaniige anYthinl'g ill Ilie arti
ele. The land had been improved
more tlhan the valuie of the fertilizer
.John T . iters sii tha1t he
mfade4 40 bushels three to four year11S
nc'o and last y'ea r he .madTe from 50 to
(40 hushels to t he nere. On 35 acres
i s ye'ar lie had1( ~made ab1out 70
Imushels average.
On land1 that has been ruined by a
tenant lhe had made 35 bushels. The
Williamsonm plani was thle correct way
to raise corni. Tf adop01ted generally,
we would he selling corn, especially
to Geogia, which is a large consumer
oif this article. There was entirely
too much water this year to be a gogA
corn year. Cowpens should be allowed
to stay on land and there should be
no fodder pulled .Land had been im
proved to more than value of fertili
zer.
What Mr. D. R. 0oker Said.
Mr. David 1R. Coker gave some in
dep)endecnt testimony on the subject.
Mr. Coker is a merchant and an edi
tor but has keen interest in agricul.
tural pursuits. HeI thought a mer
chant did harm to sell coirn to far
mners. They should raise it and under
this plan they could raise it. Hie
thought the plan would mak-e corn as
much oif a staple in the South as it
was in the Middle West. The discov
cry was a truenmendouls thing for this
part oif the country. As to the plan
of stiunt ini! corn, no one conld form
an idea of how~ ugly it looked when
heing stunted. A farmer passing by
Mr'. Williamson 's place at this stage
saidl Shat the corn wvas the poorest be