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JJF- \j q * ? ^ |* ? r> t p FOR LOANS OX COTTOX KKCKITTS Yin and Banks Could Have Hired Easily at Loan <?t $100,m 0^0 on ?tton Receipts. Bvs and Courier. Mumbia. March 2").?Arrangements ! B^inance cotton stored in State ware-' ^piouses through Xew York banks were announced today by former Senator John L. '. icLaurin, w.:o returned on the early train from a trip to Washington and New York. He was accomk panied by State Senator .1. Art) ur Banks, of Calhoun county. 1 hat arrangements perfected produce the money was e?nnhasized by Senator Banks, who told how he had borrowed w ?10,000 at per cent, straight interest cn warehouse receipts of cotton, wuicn l.e has stored in the State warehouse, i The practical difficulty heretofore standing in the way of the warehouse system ::as been the financing of the cotton, but this f as now been removed, and hereafter all parties who J':ave their cotton stored in the system and who desire to secure loans and their warehouse receipts can do so and at a low rate of interest. Valuable assistance was rendered by Mr. W. P. C. Harding, a member of t':e federal reserve board, to Senator McLaurin, and in New York toe held satisfactory conferences with tie Guaranty Trust company and the National City bank, of which Mr. Frank P. Vanderlip is the president. It was ^ at thp fhiarantv Trust company that .. . . Mr. Banks secured his $10,000. Bankers Enthusiastic. T:e South Carolinians report that they believe it would have been earier to secure a loan of $100,000 on cotton. They state that the New York tinankciers are enthusiatic over the plan and' will lend every assistance. A detailed statement covering the or nrnnar^ ? hv lilitclfl ill UCian is vjjui V.U vj Senator McLaurin and will be issued to the public in a few days. Great interest was created throughout the State by C_e announcement that arrangements had been made to finance the cotton stored at a low rate of interest, and several here today were predicting great results in every line of business through a revival and a last return to normal conditions. A spirit of optimism has been started through the announcement by Commissioner McLaurin. His detailed statement wfl be awaited with tl.:e greatest of interest. One of the mam points em pi asized in the statement of Senator Banks about this matter is that the small banks can now relieve themselves of the burden of carrying loans on last gear's cotton crop and can turn jtheir + n rrvn rrV> o? 1 IC^-UUll^O lUiUU^a tAv.vuuiu& w\.vt*v^i for the coming crops. It is believed ^ flat bankers will be especially interW ested in the result of this arrangement for financing cotton. Mr. Banks' Statement \ Senator J. Arthur Banks, State sen- j ator ior Calhoun county, gave o*:: t':e following statement on bis return ) this morning from a trip to New YorV. with State Warehouse Commissioner John L. McTiai;rit: I i "In January I published a statement | showing the met! od by which cotton j can be stored under the State ware- j house system for less than 10. cents j per bale per month. "it may now oe or genera; imeresi j to know how cotton so stored may be\ be financed by the State Warehouse ; commissioner through strong financial ! I institutions, such as ti e Guaranty ! 1 Trust company and the National Citj bank, o? Xwe York, as worked out by Commissioner >McLaurin and myself during our trip to (Washington and New York, from which we have just returned. We found Mr. Harding, of the federal reserve board:, enthusiastic in his endorsement of our warehouse system, spsaking of it as a "model of its kind/' and the Guaranty j ? Trust company and the National .City j bank assured us of ti':eir desire to co- j operate with this agency by financing j all cotton offered by and held in these 1 warehouses on a basis of SO per cent. ! of its market -value at attractive in- ' terest rates. Pleased Willi Security. "Mr. Sabin, of the Guaranty Trust j company, was particularly pleased with the form of seci. .y which it offers, speaking of it as a 'new departure along scientific :d thoroughly practical lines, mak;ng possible close relatiors bsrwce?: cotton holders and a ?? 1 A A M >.? * ! ? v?r*n ?-vV-? tVi I i >11 Arm r\ I CCUlti S LIXi WUgii 11JJI ill v.CI ill*-- i diary of the State warehouse commit- ' sioner.' "I secured a loan of $10,000 o.. my j cotton receipts on a basis of S?i-per cent, valuation at an interest of " r | cent, per annum?straight interest? j and am confident that a larger loan, j say $50,000 to $lu0,000, could be placed at a still mors attractive rate. It was j a new experience to me to hear s. I / $10,000 loan spoken of as being too j small to command the interest of such liaancial institution.. ! am moiv an ! more impressed 'u'ul, t .e wonderful possibilities of the State warhouse hv.stt in as a medium for the economic holding of co'clon. In .act. this is my first opportunity to view it through tae eyes of Americas financial magnates, and I must >uv the view to me is very : attractive at i is time, because it provides a means of financing couon at ! the lowest rates of interest ever seen | | in the South. KpIum* K?,r Country Hanks. 'This wi.'l relieve the country banks ! of the bur.ien cf carrying their cotton and an able t' em io use their resources ; in helping tm-ir customers by financing t;ie current needs of business. This ! ?i ould speedily restore in South Caro- j lina our industrial and economic life ; to a normal basis. It will give the | ether Stales a valuable lesson in w:!iat; it means to convert their cotton into a j - ... ? i e?otiabie security. "I am quite sure that Senator McLaurin will take pleasure at his earliest convenience in furnishing detailed information to every citizen of the State who may be interested. "I ' ad but little to do with the work of1 andling tile financial scheme, being little mnrp than a locker-on- in Xew I J \ork. Commissioner McLaurm turned j tne trick. It was particularly pl^as- j ing to me to observe the ease with j I which he handled til:e financial mag- j ! nates/' Senator Banks was happy over se: curing his loan of $10,000 at per | cent, interest on ' is cotton receipts : from the State warehouse, and feels ! assured that this plan will enable : money to get into circulation and that j business will rapidly return to normal j in South Carolina, a*d that there will i be no "easing" up in all lines of credit, j Proposition Submitted. Mr. UcLaurin has a proposition sub- \ mitted lor his acceptance detailing a i plan to overcome the difficulty pre-i sentei in ti e fact that the money : would be borrowed by so many dii'- j forent individual, and the bank wishes to an] with a single borrower. The | su.^g^stion is made that .Mr. McLau- ; : I rin arrange with some responsible j bank or financial institution in South I j Carolina to loan against State ware- : house receipts, and that he take in ' connection with such loans an agree! ment gi.ing ti e institution selected by : I him the rig>:t of hypothecation or sub| rogation. Then they can send the : warehouse receipts to a broker in New York with a sight drart on the -New | York bank, under ti e provisions of ! the New York State law recently ! Fussed providing fur such acceptance. T':ese acceptances are generally charged by the bank accepting same 1 ?er cent per annum, or at the rate of one-quarter per cent, for each ninetyi day acceptance. Drafts so accepted ! i oan hp sold in the market at the pres- i ent time at a rate of 2 1-2 per cent per annum, which added to the acceptI ance commission of 1 per cent for each I ninety days, equal to 1 1-2 per cent.' | per annum, wou'd make the total cost j of the money so borrowed 4 per cent. | A local bank could get t is money and | distribute it to their customers at 6 per cent, and make a profit of 2 per cent. ;or their services and a negligible risk assumed. "It will take some time for me to go over all these matters." said Senator .McLaurin, "and I then I will make a statement; I have placed a straight loan for Senator Banks at 5 per cent, straight interest, which is a good deal better t) an the 8 per cent, discount now being paid in South Carolina, and f/.ard to get at that." Senator McLaurin said that Mr. W. P. G. Harding, a member of the fed- j oral reserve board and a native of Alabama, has ever since the institution of the warehouse system rendered valuable aid. "I intend to write '-Mr. DeCamp, president of the State Press association, and suggest tl at Mr. Hardin be invited to deliver an address at their annual meeting at Chick Springs, j as our people need information and j education on financial matters," fee I stated. 3N3HMA83A3 S1SM80 A8 010S ! SXE.V.;y'jsajcc;';s3gsrU/AOUJJSIES? g/ ?A\ 5?,oj,snM a.vvajj (jvorcvifl J#1 -> 1 saax-sariirvma-oj-w JJJ _ / . a Jnoi jo Xujx -Jdqio on OH*x f-V> kjL I /\ 'uoqitH ?nui w* t?iws saxoq forVr-- >3. ; //VVniwm pit*;) puc p^n u; sj!;,! \\f/T>""->}l ptiotccrti ? joj-saqa-jt,^ U 3 Vy Joj jwtSaa^ji jii&J ?jt>v lt>,>iPwr? ' v 'fl.vvoa <IKO^Vl? 3IIJ, 1 STIld S B31S3H3IH0 I Ill ft 1 iiiii N K V? l?i! k iI? 1 i i it M ^ IjrAilThiCLl HO.NOli ItOLL ^ Higii Sei.oo!. || Knunriary Street School. Hiir School. Te:ii ' Grade?Ruth bigby, Katnryn ja H?,rnis, Henry Rikard, Vinr.ie Kleazer, 1 H Fannie Eieazer, William Halfac-re. Mi - gj tired Kvans Eldrige McSv.ain. -Ninth Grade?Annie Kinard, 'Bertha Bj Galinuin. Jack Dunsran. Roberta Lom- p inck, .fee Vigodsky, Ichn Floyd, Tom- M mie Fnysinger, C<:c: re Ko !e'sperg:.r. H KU-- ill Grade?Kmi!y Hoof. Rc-Vorii w : a:iii. Azile Parr. Anna Kennerly, 8| Xan.y Fox. Fmaces Ho<:seal, Ht's.-ie B Lake. Run Schnmpert, Clyde Harris, g Drayton Xance, Clude \Ward Boumiar Street School Seventh Grade?Daggett Xorvvoou, yL Ma Tarrant Mary Klettner. Oillio ^ Boyd Parr, Robert Scliumrfert. Annie 39 Amick, Mildred Purceii, Kdn-.i Taylor, jjj j ; a Crooks, Ellis Williamson. Hal- 3 ie Mary I.nford, Harry Kpting, Jerry | Howard. Clau se Laihan. | Sixth Grade?iFredna Sehumpert, | Mary Francos Jones. Clarke Floyd, a Frances Jones, lA'liene Dunn, Haynie ? tMcGiav.-. Mildred Tarrant. Carroll | Sunimer. Ruth Koon, Herman Uickert, | Olivia Siewart, 'Fil'.h Grade?uverett Hipp, Jc*.tj | Chappeil. Harold Hipp, Elizabeth Kinard, Mildred Werts, Eva Robertson, $j James Wallace. E'izabeth Wrigat, Henr'y Lomonick, Elizabeth Minis. Fourth Grade?Maude Hamilton,1! ; "Alright Cannon, ?\?artha Lathan, T. W. I Smith. Margaret Kinard. Buford Crom- j ar Wade Hamilto 1, Garland Taylor, I .Td n Epps. j| Third Grade- -Pauline Roozer, Mil- I ''red Livingston, Lula May Fellers. J Philip Crotwell, Sam Matthews, I George Fulenwider. Second Grade?G?""?rge Martin. C3r- I olyn I! arrant, Henr: Adams, Frank De- B Vore, Coke Dkkeri, Annie Lee Glenn, n Irene Hamilton, Ralph Hardeman, Oku Harmon. Elizabeth McFall, Sara.': B May Pitts. First Grade?Nannie Laurie Roozer, Mary Alice Hipp, Mamie Roozer Har- B nM \>wn am. Minnie Morris. Kate j Bullock, J. P. Suber, Edward Stuart Schumpert. Harry Thomas Summer, J. \ D. Hornsby, ujary Schumpert McCIure,! Foster Martin, Aldine Minis, Paul Denning, Frank Adams, Cyril Hutchinson, Harry Boozer. Evelyn McGraw. Marcus Caldwell, "\Y1 ite Bullock. Speers vStreet School. Seventh Grade?Marguerite Werts, I Abbie Gaillard Susie Maude Wilson, I u,uwin seiz.er, aue r^nu. rt-tcuuu. H Sixth Grade?-Janie Dell Pavsinger, Mary Alice Suber, Aubrey Tilley, An- ! " nic Mae Bedenbaugii, Sam Beam, Irwin [ Leavell, Fred Thomas, Gilder Bouk-' F night, Linda iMelton, Mary Ellen Lake, t< Irby Goree, Marie Woodward. i E Fifth Grade?WelC'.i Wilbur, Wil'iam li 'VcSwain, Blanche Sale, Furman Rea- E gin, Ada Livingston, Nellie Lake, Flem- 0 mer Jones Pearl Spotts. Fourth Grade?Cortez Sanders, Wil- j liam Eddy, Caroline Weeks, Hubert | C Setzler, Herbert McTeer, Troxene ^ pVright, iFlizabeth Harms, Leland Wil- P son, Griffin Williams. Oscar Melton. Mildred Reid, Ruti': Harrell, Jessie Lee Earhardt, Julia Melton, James Dunstan, Essie Robinson, Rozalie Hodge, $' O'a Tolbert, Burr James Kibler. Se-, verne riuey. Third Grade?Benetta Buzbardt, Margaret Farrow, Gladys Havird, J. W. Earhardt. .Tr.. Edna Sanders, Ella a Bowman, Mildred Perry, .Tuanita Hitt, v Horn Sligh. S1 Scconcl Grade?Effie Plaver, Edna le Jacobs, Tyler Robinson. Mildred Spear- t: man. T'':omas McTeer. 1 First Grade?Thomas Spearman, m Gladys Williams, Pauline K!ettner, ai Ernestine Melton, Mildred Jones Ed- '? win Carlisle Kennedy, John Switten- P< berg, Caldwell Kibler, John Hubert *r Bcozer. William Bouknight, Thomas si Wl erry, Thelma Bowles, Lila Holson- a back, Sarah Koon, Iantha Hodge. -i lVest End School. | a< Fourth Grade?Winnie Williams, ai Willie Mae :Culbertson. ci Third Grade?Annie Lo-.i Connolly, a Broadns Corley, Jo-.n Evans, Ernest P< Layton, Bertie Inabinet. Floyd Smith, j P Andrew Thornton. I ~ Second Grade?Arthur Glenn, Gladys ' t Bowen. James Lindsay, Zack Taylor, ,g James 'Evans. j ^ 1-1 \ l \'A I.astinsr. In ?25222ESSmSBSS^BSS^S^MBBBSSm THE great end fore\ * COIPANi i:. m kir sitlicg by the cad-si: great (?) sah, Jiis sa dignity of vaiins ?3 li the plaudits i f aa appr A Satisj Possible and so the volume of incomparable values in | WE have drawn on i hpavv selling with ???"*'; WV..?JJ Values! If you would shat you will come to-morr First Grade?Douschka Alewine* Iola ranklin. Grace Bobb, Brunelle Car?r, Louise Danielson, iClaudia May tiller, Ruby Kinard, Myrtle Outz, Sale May Roten, Ethel Livingston, Mary obb, Ewell Culbertson, James Fulmer, lin Lavton, Rufust Griffin, Heber urner, Heber Riser, Aaron Leopard. Xigi t School?Goldie Petrea, Rosa orley, Mary Williams, Carrie Belle lack, Carrie Nell Swindler, Janie adget, Pearl Padget. r-Drrvvri T r ST AVnPR ^TTIT. r5,000 Damage Case Will Be Heard By the Court April 22?Slander Is Alleged. At a meeting of the Greenville Bar ssociation the case of W. J. Metts s. J. W. Norwood :or damages in t'.e am of $75,000 for articles or aj aiged s'andprous nature, was set for rial April 22. r' Mr. i.Vetts was named by Congressan Joseph T. Johnson as postmaster : Greenville, and immediately afrerard Mr. Norwood askei that the apDintment be I'eld up pending a heartg. Mr. Norwood then publisher a gned article in the Greenvire News, nd later Mr. Metts announced through is attorneys that he would bring suit gainst Mr. Norwood for alleged .3am?e to his character. Government se"et service men then visited t)'r.e city nd made investigation, but no reort of their findings has been made ublic. ivigorating to the Pale and Sickly he Old Standard general strengthening: tonic, ROVE'S TASTELKSS chill TONIC, drives out [alaria.enriches the blood.and builds up the sys?m. A 'rue tonic. For auults and children. ZOc j I Shine Brings the Smile cf Satisfaction! i the ''Easy-Opening" Box. DALLEY CO., Ltd., buffalo, n. ri rer to be remembered sale of ig commercial history every day Je plugging the punctured tin ie moves majestically oa?its a h as they are rare, sustained eeiafiye and grateful public. fied Patron is th 3 Advertising M our business increases with eac - ? /> *! laaaima iiahai eacii uepaiiuiein uctuuic ueua oar reserve and fortified the iven Greater Than e in the greatest of ail the gr J j l:I_ ,L:? ow ana every uay wiiue tuis sa X\i ic uixiu ua * Mus< I "It is easy to use and quick to apply. It penetrates without i Read What Ol "Have used your Liniment very eucces " sm (Good for Neuralgia, Sciatic All Dealer; Send four cents in stamps for DR. EARL S. SLOAN, Inc. I LOTMBMrMhfyr^rrrrBiTMiwfcMiMBr'-Hwift m~t ?- - C. & G. S. MOWER I . While others are j ss of their exploded i larch marked by the 1 and encouraged by | e Best | edium 1 :h passing day as the I < IrtiAiim [ niiUYYU. points weakened by I Before I eat bargain events? i!e lasts. ; m I cle Colds I respond. No work. Just "ubbing." thers Say: isfully in a case of rheumatism, and always have a bottle on hand in case of a cold or sore throat. I wish to say I think it one of the best of household remedies. I w ould not have used it only it was recommended to me by a friend of . mine who, I wish to say, is one of r the best boosters for your Liniment ^ I erer saw."?J. W. Fuller, Denver, 1 Col ^ "Just a line in praise of Sloan's Liniment. I have been ill nearly fouiteen weeks with rheumatism, have been treated by doetora who did their best. I had not slept for the terrible pain for several nights, ivVion mv u-ifp cnt a small bottle of the Liniment and three applications gave me relief so that I could sleep."?Joseph Tamblyn, 615 Converse Street, McKeesport, Pa. :a, Sprains and Bruises. a free TRIAL BOTTLE. Dept. 3 Philadelphia, Pa. iiiiiiili lllMiMl