Historical Newspapers of South Carolina

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7 ' / VOL. XLIV NO. 0:5 NEWBERRY. S. 0.. FRIDAY' NOVEMBER 8. 1907. SVWIOE A WEEK. $1.50 A YEAR Vj COLUMBIA BANKS OFFER RELIEF > HAVE DECIDED TO ISSUE $210,000 IN LOCAL CURRENCY. Each Bank Has Put Up in Ironclad Collateral $150 for Every $100 of Scrip Which Will be Issued. The Slate. Tlic Columbia banking institutions have decided to issue clearing house certificates in order to relieve the f'itii ancial depressions. This action, taken l yesterday afternoon at a meeting of Y the clearing house association, is J largely in response to resolutions passed recently at a meeting of bankers from other parts of the state. The compliance of the Columbia banks mean that this city is becoming more and more, the financial center of the state. For, within a few hours after the action of the trustees of the clearing house association, there pi were thousands of dollars, represent, od by the certificates, being cxpressk od to. other cities in the state where V: :Columbia money will be as good as P gold. 'I hose certificates are in form somewhat similar to a bank note, although not so handsomely engraved nor printed upon such substantial paper, for it is believed that this temporary currency will be called in within.six weeks, although the limit named on the face of the certificates is March .1, 1908. The total amount issued is $2-10,000, representing 20 per cent, of the j aggregate capitalization, of the bankt ing institutions of the city. Each bank will be permitted to draw its pro rata part and it is probable that all of the temporary currency will be put into circul-a?*on at once. The conditio, Meh call for the issuing of this i? ^ncv are anomalous. The banks of Columbia 'nave moYe cash money than they have ever had. but it has not been put into c.irI culation. The money has been kept \ tight on account, of the flurry in Wall ' * street, but it is believed that condilions there are getting easier and t that the south will soon he aide to Vj take a long, deep breath. It. is the merchant who has been suffering, for I he banks have been afraid !.\ advance money on cotton, and the farmer has been disinclined to sell eolfon at the prevailing prices. Therelore the merchant has suffered moreMian has any one else, as purchases of stocks for (.Ins season were very heavy on account of anticipated high prices of cotton and good yield in South Carolina. ^ Columbia Clearing House Association V* Columbia, S. C., Nov. 9, 1007. / In view of the action taken by tha New York clearing house, and subsequently adopted by the clearing houses of Philadelphia, Chicago, Haitimore, St. Louis, New Orleans, Cincinnati, Nashville, Atlanta, Louisville. Birmingham, Memphis, Montgomery, Mobile, Augusta, Savannah \ an<l many other principal cities, > throughout I he country, restricting the shipment of currency, and is' v suing clearing house certificates; and j iri response to the request, of the f - bankers of our state expressed at a | :> meeting hold in Columbia, S. C., on November (!, |<)07, be it resolved by (lie ( olumbia ( Icaring House associaI tion : A 'I. I'haf in order to facilitate' the ( movement of the cotton crop and aid ) the fiii hums in the proper marketing j' of the same, clearing house certifij cafes of this association be issued, re.jj deemable in money of the United States on or before March I, 1008. jV fhaf until lurlher notice collections and bank balances be seltlefl in exchange or clearing house corlificates. If' Th'nt such certificates be receiv<ad on deposit or in payment of col') lections and debts due any banks in the clearing house association. 4, That checks drawn on the ineniI hers of this association be paid & through the Columbia clearing house, nv, correspondents and customers be V / f.> , requested to so stamp (heir checks. "He it further resolved. Thai, the manager ol' the Columbia Clearing ! Ion e asvoeiat ioli In1 inst ructed I?i give notice to the correspondents <d the Columbia clearing house banks that the above resolution is in effect on and after this date and until further notice." In issuing these cert ideates the association yesterday made the following announcement: "Columbia Clearing House Associat ion.'' To the Public: That you may know when the certificates issued bv the Columbia Clear inn- House association are properly signed the tru.-tees make this anluuincement : All certi'ii-eales of each denomination issued by the Clearing House association will hear the signature ol one of the trustees: W. A. Clark] Kdwin W. Robertson, W. G. Childs. Wilie Jones, Geo. I,. Parker or I). C, 1 ley ward; and, in addition, each one of the certificates will be countersigned by B. F. P. Leaphart, secretary of the clearing house association. W. A. Clark. F<dwin W. Robertson, W. ("J. Childs, Wilie .Tones, Geo. L. Baker, I). C. 1 fey ward. Trust ees. Columbia, S. C., Nov. !), 1 HOT. MAY BE -CANDIDATE FOR GOVERNOR. C. C. Featherstone Expccted to OlTei to Succeed Ansel?Has a Sti'ong Backing and Would Run Well. News and Courier. Columhi'a. November 0.?One ol the interesting political rumois I'm1 has come to Columbia within the last few days is t'hat Mr. C. C. Featherstone, of l.'aurens, will be a enndi date for Governor at tlie expiration oif Governor Ansel's service in that odiee. The probability of Mr. Featherstone's candidacy was vouched foi by a personal friend today. M r. Featherstone will make a formidable candidate, lie would have been in the race in 1 ?)()(?, but for Iw< facts: his high personal regard foi Mr. Ansel, wjiose candidacy had pre viously been announced, and the similarity of Isis views and those of MiAnsel on the liquor issue. As the\ were so closely in agreement, ami there could be no person'al opposition Mr. Featherstone declined to accedt to the wishes of many of his friends and refused to enter the race, thougl importuned to do so even until the last day for making entries. Mr. Featherstone made the race it 1808, and "was defeated only by f combination of forces and circumstances that were most unusual am peculiar. He ran that year as the prohibition candidate and now lib friends feel that he is entitled to participate in the fruits of the victory for which he fought when the odds were against him and against prohibition. Mr. Featherstone recent 1\ made a public statement of his views declaring in favor of st-ite prohihi tion law, but permitting any county desiring to have the sale of whiskey to do s;> by vole. This is piratically the reverse of the present system. Many prohibitionists feel that si ici the state is in sentiment now nil doubtedlv prohibition, there should b< a prohibition governor, but they d? not desire to see a man elected mere lv because he espouses that cause They want a governor who is a pro hibilionist, but also a man of busi ncss ability, of sound views on tin j biib'oi and economic questions and ol safe character. Mr. Fearlhstone, hi: I friends say, is all of that: he is s j lawyer of experience and ability, i I man of fine principles, a thought fu j student o." affairs and a gentleman o j el/hrining personality of whom tin j .-.talc mi-rht- be proud as governor j / r.d as for the campaign. Mr. Fealli orstone is one of the best slum| speakers in the stale, and will hole his own in the contest for governor if lie should enter the lists, when Mi ! Ansel retires. j, ut GOLD ARRIVALS. I IJradstreet's Review of the Country's Trr.de?Currency is Not so Scarce. Now ^ ork, Nov. S,? Brat 1st reel 's tomorow will say: " (Jood progress lias been mailt1 in accommodating the ei-unlrv to iltc changed I'i 11 a nc?i a I t-Miwliiions. this, Ion, with strikingly lit lie friction. At the tiimo wholesale and jobbing (ratio has quieted down very perceptibly, and the disposition in industrial lines has been to curtail production wherever possible. There is. :n fact, a rather m-re optimistic lone prevailing this we !; i han !as|, the outgrowth o I* the h"! Ier feeding at Ihe Kasl. the largo arrivals td" gold from Kuropo ami the idea tliat basic conditions, both as ro gards the purchasing power of the t people and the absence. t)f large sleeks, are belter than in some preceding years of stress. I'Yom two , sections?the Northwest and the . South?complaints are numerous (hat the absence of actual cash prevents the movement of wheat and cotton to market; but'the country-wide is, suance .of ba.ik and corporation chocks in small denominations has eased the currency situation urealIv. Collections are rather slower, but there has been a slight easing in the premium for actual cunvncv at the 'Oast. "Businos failures iu the United Slate- for week ending Nov. 7 number 22f> against 22:5 last week; 140 in the like week of 1?)()(?; 1 (>(? in 100.1; IS-1 in 100-1 and '250 in 1003. Canadian failures ;{| as against "Jo last week a:itl 2S in this week a year ago." GOLD MOVEMENT GROWING. | Over $50,000,000 Engaged Up to Date?Situation Better. New York, November 4.?The fin| aucial situation made further progress today toward the resumption of normal conditions. (!o!d was engaged , I" bring the total for this nvovenient up to more than $.">0,000,000, an unprecedented acquisition of |he yellow metal inthe history of New York finance: the hank statement was more Iavorable than liad been expeeled, showing a loss <>1 but $-1,313,000 in the banks' cash holdings, and the slock market was firm, most ol the active . liares showing advances oil tin' dav's trading. The b;i *k statement does not show the lull beneilils of the gold ' leeched from London, a., the statement is calculated on a basis of averages for each day of the week | and ihe greater part of the gold was received late iu the week. Thus a statement of the condition of the 1 banks at the close of today would show I heir cash surplus to be much I larger than under the average system of computation*, Next week there wiil 'be more arrivals of gold and all ol thai received tl i> week will figure for the t'uii week so that next week's r # slatenie.it is expected to show large trains* in reserve. While Hie deficit in the reserve is $">1,000,000, it should be noted that the cash on hand ' i- siill 20 per cent of all deposits, in-(Mitliii.; those made b> Ihe (lovornmonl, and which are secured by collateral. This is f> per cml less than required by the 2) per cei.t rule, but il is f> per cent more than Ihe local j instijulions are called upon to maintain under the stale banking laws. Notable advances were made by Ihe ' active .'hares in the slock market during Ihe week, today's final sales showing higher prices as follows: Cnioa Pacific 2 1-2: Failed Slates ' Steel 1 l-S; Preferred 2 .'121 ; ltead3 ing 4 l-S; Pennsylvania I 7-S; Norlh' crn Pasatlc 1 .'{-I: New Vork Central 2 o-S; Missouri Pacific 1 1-2; Great 1 Northern 2 1-4; St. Paul 2 7-S; 1 American Sugar .1. 1 ' ^ Beth Eden Union. J Will mev;t at Belli Kden school ' house Wednesday, December 13. a I 3 " o'clock in flic afternoon. All nnuu> hers are urged to be present am! anv ^ farmer is invited to join the union. '? Ohas. S, Suber, C. M. Folk, President. Secy. A COL. ESTILL DEAD. Prominent Georgia Newspaper Man Croses Over the lliver?Twice Candidate for Governor. Savannah, Nov. !). ?-John llolbrook | Wat ill, proprietor and editor of tin* : Morning News and prominentlv connected politically and in business, I died at (lie Isle of Hope, near hero ! tonight. He made two campaigns for governor. He was once chairman of j the state Democratic executive comj nvittee and was onee a member for Georgia id' Hie Democratic National ; committee. lie wn- a member of the Oglethorpe , Bight Inlantry in the Civil War and has been imminentlv connected with various interests in Savannah. ! MR. J. C. LUSK ARRIVES. , New Division Passenger Agent of the Southern Comes In. I News and Courier. , Mr. J. C. Dusk, the newly appointj ed division passenger anient for the Charleston division of the Southern , liailway, reached this city yesterday, having been considerably delayed i:i Atlanta. Mr. Dusk is well and pleasantly known by a number of business men in Charleston, and lie is heinu ( made very welcome. Yesterday ono I of his tirst duties was In visit the army post, on Sullivan's Island, and ! make arrangements fi r the handling jof the !)!hh company of coast artillery, which is to leave for Kurt Morj gan, Ala., about the middle of the present month. I Later Mr. Dusk, in his office, on i Meeting street, opposite the Charles* i ton Hotel, met a number of business| people of the city, and last night ati tended Die opening reception at tin j new Dnion Bns-enger Station, 'flu: | Atlanta Constitution of November !> speaking; of Mr. Dusk's promotion, ; asid : ''J. C. Dusk left the city yeslerI day to take charge of his new ollicc of division passenger agent of tin5 ;'Sou!hern Railway, with headquarter* in Charleston, S. C. Mr. Dusk ha.* | resided over a year i:i Atlanta, Indd| ing the position with the Southern ol j district passenger agent. | "Mr. Dusk's new position will giv< 11:*?i much vrea'.er responsibilities, aj hr will have cniire charge in the I State of South Carolina and in (leorjgia as far as Augusta. i "lli< promotions with the Southern ha\e been rapid, and he has won hi* way to the top by etlieiency and strict atte.i;ion to business. "He bcg'an his service with the Southern in 18!)8 in the district passenger office, at Knoxville, Tenn.', and was promoted in 18!)!) to Sehua as travelling passenger agent. He went to Birmingham and Chattanooga and then back to Birmingham in 1001 as district passenger agent. From Mierc he went to .Jacksonville. Fla., and then came to Atlanta a little over a year ago. "Mr. Dusk's many friends in Atlanta, while rejoicing at lus promotion, greatly regret to see him leave t he city.' Advertised Letters. Betters remaining in the posloflic< at Newberry, S. C., for week endimj November !), B)07. 15- .Miss F.len Boseman. I) B. S. Davenport. (! Mrs. .Joicy Graham. Mr. Sum i mie (i'allmon. I !1 Hays Dive Stock Co., Mr. .1 i Hamniim;. Miss Peace lleasor. | .) Mr. Clint -lones, Miss Vinnis j Johnson. j K Mrs. Kate Kemp, Miss Ocfsivi? I i K nard. B Mr. ID 1'*.. I.ee. Sallie Bong. M -Mr. Colen^ u Mel ape. Mw Mayyie Metis CJ), Mis*Winh Moo"i' O Mr. A sherry Oxner. B Mr. D. C. Berry. U Mr. W. ID Ifeid. Miss Mair'Mi ! !fice Idella Bo-.eis, Mrs. Baura H'.b n 11. Claren *e ID IDHbin^on, Mi/, i , . . , : ie l> runt ree. j ' ' '>}! (* V'ard, Mrs. formal if ' W i.-ker. I'ei-ons calling" for these letter, will plcaso say that they were adver tised. THE LUTHERAN SYNOD. Closes at Spartanburg?Next Year' Meet at Prosperity?Work Done. Tlu' Sparlunhurt? Herald of Sunday ??ives lIn* 1'ollowin.i? general suinlnnry ot (lie work accomplished by till' Lutheran Synod which was in session in the new Lutheran church in Hint city last week: I ho Lutheran synod, whieli convened in the Lutheran church id' (his city Wednesday morn in*?, closed its business sessions ul I :.'{() yesterday afternoon. alter three d'nvs of routine work. The filial ndjourtiinonl will he j reached tonight. The :ie.\l synod will , nieel with (irace church, I'rosperit v, oil \\ ediiesilay heifore the second Sunday in November, 1908. 1 he sessions of the South Carolina synod of the Lutheran church have been most pleasant, and there was not a si utile discord throughout the entire convention, which was well altended hy delegates from all over the state. 11 has been quite an honor to the city to have the pleasure of enlerlainini? so diislini?uished a body of church men. arid the special resolution ot thanks passed by synod vesterdiay thanking the friends who entertaiiii'd the delegates is taken as a distinct compliment. as uas also the hitili ciiinnicndatinas made on the work ot the Uev. S. T. Ilallman, pastor ot i lie riiurcli here, who received the burliest vole for chairman of the dele-'atiinn to the foiled Synod of the South. Result, of Election. The session of synod was opened 1 yesterday inornint? at !).H0 o'clock with devotioni-il exercises conducted ; by Rev. \Y. 1\ (Mine. .Viler the readin.!? ot the minutes the teller annouue? "d the results of the election of lav delegates to tne t nited Synod in Sav annali, (la., which election was held > .just before adjournment on Friday. Follow in.*? art the lay delegates the '.second name beinj? -the alternate: (i. H. Cromer, J. I). Cappleman: P. |jf. Price, K. .). Ktherc.li?e: A. II. ' j Kolin .1. K. Ki/er: A. (i. Wise, J. 1'. ; j I lendrix: (). H. Mayer. A. II. lieiv: .1. j( . Seeders, II. II. Folk; J. \V. .luiinv, \ X. Molaml: .1. F. Ficken. \V. 11. j : Ieideiivecli: !1. (). 1 le:Mz. S. .1. | )<>r; sick: Kenneth Raker. I. I. Kam-ii: W C H-mseal, <i!n? Tiedeniau. Jr. < lerical Dr. S. T. Ilallman, Ifev. I M. (i. (!. Scherer, Rev. \V. II. (!rccI [ ver. Dr. J. A. R. Scherer, liev. M. (). . J. I\ reiis, Rev. /,. \\ . I edenbaui-''h. j Lev. ( . A. I* reed, liev. (I*. Roo/.yr, j liev. Jus. I>. Kinanl. liev. W. A. ( ,j Mueller. liev. <). I?. Shea rouse. ! Committeo Reports. j The commiCco on excuses and let' I ters made th'ir report, wh'icli was pending from yesterday. 1 The committee on the bond of the ! treasurer of the synod rendered (heir | report. The bond had been examined '[and found satisfactory. The committee on appropriations suiri?csled in their report to synod how much was necessary to carry oil j 1 he work for the next year. Anion.*? I . lie amounts su.t?*?cs1cd were: | For printing of minutes, $'_'()() if . necessary. For beneficiary education. 'I For c'irreiil expenses of thco|ot*ir cal seminaries, $L1H. I I or executive cominittee of home j missions, $'J,(K)0. I M- next ivporl w?as from I lie coin' i'litlee i n treasurer of llie "Senilj * en ten nia I I'.ndownic'. it I*' und"' of .[Newberry college. I: was to the cfjlcej (hat the treasurer's report was i j t und ci'irect with vouchers, and ilial ll;* niomy was v -1! invested. This i !' ud wa- propuscd iu June of last year, which was the fiOth anni\ rsary 1 o| i lie c tllet-M1. In three mo:itli> or < l.-<- >'111.000 for this fund wa- rais. ! ed. Uoavd of Trustees. The ch linnan of the committee for [ noifi r< I i 11 i* board of lni*>'e<.. of (In Ml. I iea-ant. Seminary read I lie o'io-' in u iininations: Clerical liev. Dr. S. T. lia"ma:i, i Spa I a '' i r : : liev. W. A. C. Mueller, t liarleston; lies i'nas. Koerner, s ('harlcston ; A. Freed, Columbia; - liev. M. (J. Scherer. Charleston. Lay?Hon. J. F. Ficken, Charles ton; ). D. Capplcmau. Charleston; Dr. <). li. M?ayer, Newberry; A. 1). 11 a 11 iwanyer, Columbia; ('apt. .1. C. Sneers. ('olumhia. The secretary was anthori/.ed lo cast 111?? vote of | he synod for the ab<?ve named gentlemen, and so they were elected unanimously. The committee on pastoral districts made its report next. There are a number of valiancies in the smaller churches, and lliis committee will have its hands full the coming year. The report from the chairman of the committee on systematic be.ievolence had several interest inn1 resolutions. It was resolved to raise 1)00 annually to meet the needs of synod.. At I'Yiday's meeting il was resolved |o raise $.">,000 for the itnMiediate needs of the present year, ml yesterday the order of lliim.'.s was changed and il was decided to make tlit* raising of $.">,000 an annual affair. The $.">,000 will be apportioned amnny the conyreyat ions of the synod, according to their numerical strenylh and ability. Missionary Work. The chairman of the executive coinmil tee is to prepare a statement in .ract form of all the missionary work d" the synod, yiviny the amount of funds necessary to prosecute the work. These tracts will be dislrihut* eil ammiy the conyrcya I ions. The committee on apportionment 'iext made iis report, and there was no chani'c in the percentage of assessments. The committee on the theological seminary al Ml. 1'leasanl reported :hat the in.-tiiulmn was i i a better condition al present than at any time dure iis birth. There are now fourteen students, with the prospect of a fill cent h before the close of the session. The health of the student body :nd l tie professors was reported as excellent. The apportionment for the beneti iiary (.td7f>) noes to I lie following youny men at the seminary at Ml. i'leasanl: .1 .\V. Oxuer, M. C. Riser, iml I'. Siiealey. I?ev. T. I!. Kplily of Sninler, was lected as statistical secretary of the synod. The next repovi was from the cornnitlee oil the s;a!e of reliyion. The 'ol!o\\ imr art ic!c> in the report about ver i lie l;round : I. b'elij'ioiis acti\ ii \ in ail lines of iuirc.h work is vei\\ einoni\UM.T'. ?. Attendance o.i services is very " 'i. and lliere is a deeper interest nan i IV..| ed tiian ewr beIVre. .'t. Ilenevoleiice indicate^ utowI h in lepth and breadth. I. The Sunday Schools of synod ire beiny more Ihoroimhly oryani/.ed ind are doiny more systematic work. li. finances are in yood condition, and several pastors report expenditures in improvement of church property. while at some places the salaries of the pastors have been raised. 7. Church properly is in excellent "oiidition; the tendency is to build heller churches. S. The interest in Christian education is wide spread and general. The |..\ all > of the people to Newberry colleye and to the seminary al Ml. I'leasanl is inspirim.' 0. There is ureal hive for Uie lileralnre |mt out '>v me pnblishiny house, and the <-linrcii paper "The Visitor" and I he Sunday school "Tidinys" are yreat favorites. This report concluded the business if ;he -ynnd. A suitable resolution >f thanks io the pastor and conyre.. ation of the Sparlanbury church, ami to I he friends in yeneral, who assisted in eiilerlainiiiy tin* ilelevales was passed, alter which synod adjourned to meet with (Jraee church, Prosperity, November. 1!)09. VVil) Not be a Candidate. Dr. (ieo. 15. Cromer rei|iiesls The Herald ami News lo <ay that he will j n"t 1 i candid.tie for alderman 'from Ward 1. i . . . i | . hat < l.inese newspaper w'licii has 1 just Viven up the ylmsl, after a short i..?; stonny existence of f)?Sfi vears .doubtless was the oldest inhabitant ! summy the yellow journals, nevertheless.