The herald and news. (Newberry S.C.) 1903-1937, August 13, 1920, Page THREE, Image 3
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PRAISE FROM COX
FOR RUNNING MATE
SPEECH CHARACTERISTIC OF
MAN, NOMINEE DECLARES.
Governor Did Net Expect Acceptance
Address to Meet Harding's
Approval.
Dayton, Ohio, Aug. 9.?Interest
of Governor Cox in the notification
ceremonies of his running mate,
Franklin D. Roosevelt, was manifested
in a statement issued to-ilght by
the Democratic presidential candi%
? * rr l i
tiate commenting on Mr. .s
personality and acceptance address.
"Mr. Roosevelt's speech is characteristic
of the man/' said Governor
Cox. "It is a wholesome, sensible
view of conditions full of hope as to
o*jr i'uuiie and radiant of the happiness
of the individual. We-tern
country \v?Il like th:s splcnd:<l typo
cf pi', triessive statesman. Following
the two years of gloom and carping,'
i/?!?:> ?-? frnni Rcilllhli
VO|/1 :i'u 3 \>iiv(vivu? * - v... - - - ^ , ?
can leaders, it will be a genu!::'* refreshment
in the great la?iJ Mr.
Roosevelt now enters for the people
to meet a representative of government
whose soul is possessed of the
philosohpy of joy."
Reserves Comment on Harding.
Governor Cox reserved comment
until his future speeches at least on
the statement of Senator Harding's
headquarters criticizing his acceptance
address. The governor's friends
Said that it was not expected that
his address would meet with approval
of the Harding camp.
The first speech of his traveling
route next Thursday at the Camp
Perry, Ohio, rifle contest will not
deal importantly with major campaign
issues, the governor stated tonight.
He plans to discuss principally.
the part of the National Guard
in the war. The governor has changed
his plans to leave here on Wednesday
for Columbus and motor from
there early Thursday morning to the
camp, about 125 miles.
Women's interests of the campaign
received more attention today
from Governor Cox. He conferred
with Mrs. Abbey Scott Baker, of the
National Woman's party, regarding
the Tennessee legislature's fight over
the woman suffrage amendment.
Receives Anti-Suffragists.
The governor also received tonight
a delegation of women who
are opposing ratification in Tennessee.
They presented their argu
nients in detail, stressing tliat of
state's rights. The delegation representing
the National Association
opposed to woman suffrage and a
Tennessee state opposition organization
included Mrs. George A. Washington
of Texas, Miss Mary G. Kilbreth,
New York; Mrs. W. P. E.
Wyse, Maryland; Mrs. Rufiin G.
Pieasant, Louisiana^ Mrs. Walter D.
' Lamar, Georgia; Miss Mary Faulk
i.: 1 tvjt;? T
ner, i^incmiuiu, aim iuioo >?j.aijr x>.
Mulvihill, Cincinnati.
Plans for reaching women voters
have been completed by Mrs. George
F. Bass, Chicago, of the women's
campaign committee of the Democratic
organization, who has been
conferring here with the governor.
Mrs. Bass said five thousand Democratic
women speakers would be
placed at Work and appeals' made especially
to women voters on the league
of nations issue and Governor
Cox's record m Ohio legislation to
benefit to women and children.
Has a Familiar Sound.
The Lutheran.
H. C. Holloway, D. D., with his
four brothers and sister, six in all,
held a family reunion in the old
homestead at Aaronsburg, Center
county, Pa., July 20. In connection
with the reunion, Rev. Dr. Holloway
Breached in the old church in which
he was confirmed 65 years ago by
Rev. Dr. M. J. Allcman.
Our Own Little Paul, Formerly?
. The Lutheran.
Rev. Paul E. Scherer, of our Philadelphia
seminary, has been called as
pastor of Holy Trinity church, New
York city, to succeed C. J. Smith,
D. D., who has accepted a call as
J ? ? Pn.innl-n "S'lloiYI
preSlUtJIlC Ut nvanv/nt v. uuv^v,
Va. Rev. Scherer has accepted the
call and will assume the pastorate
September 1.
<v $> $ <$
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?> SENATORIAL CAMPAIGN $
MEETINGS. <$
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$><$ $><$><$<$><?> <&&<$><$><$$><$/$'$
Rest?Eight days.
C4- Mnfthnwc?Wcnrlav. Autrusi
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16.
Orangeburg?Tuesday, August 17
Dillon?Wednesday, August 18.
Conway?Thursday, August 19.
Marion?Friday, August 20.
Florence?Saturday, August 21.
Kingstree?Monday, August 23.
Manning?Tuesday, August 24.
fieoreretown?Wednesday, Augusl
Moncks Comer?
gust 26.
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| - V - v \? \. V?. ? V V N/ i
h ?
* AT THE OPERA HOUSE. ? '
! ..?. a j
J .' > 4 A- Ai 4. 4. 4. A A, A- At, <9> 4, A, A\ A
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Oomg otitic.
A sad tracfeody occurred in film in;*; j
Kcx Beach's new (lohlwyn picture. J
; "Going Some," which comes to the !
opera house Friday. This is one of I
this author's series produced by the j
Goldwyn Pictures corporation. In j
one of* the scenes it is necessary to j
have a goat, so the animal was so-j
cured at a nearby ranch and taken to j
the top of a high cliff where the ac-1
tion of tiie story was supposed to oe-!
cur.
I Billy the goal however was not;
!
used to a motion picture camera, j
i ITe gave one look at the menacing}
black box, whirled about and with a |
despairing "Ba-a-a-a!" be jumped j
straight over the edge of the cliiT?
and was kilJed.
This was only one of a string of j
casualties and accidcnts accruing j
J
from the filming of "Going Some.'' j
One of the automobiles ran overt
11 " ?i not uliifo < { which !
i OI?W>V C4 W " I?. w .... |
the whole company had adopted. ;
Two cowboys who appear in the pic- j
ture thought they could do a sword ;
fencing act with a couple of long!
knives one day and one ofHhem was!
badly cut and had to be sent to the j
hospital. A rattlesnake almost bit
dainty little Lillian Hall and several
of the girls got lost on the desert.
Altogether there was plentv of redblooded
action encountered in gel- j
timr this thrilling Rex Beach picture.!
"The Fighting Shepherdess."
"The Fighting Shepherdess,''
which appears at the opera house
: Monday, is a dramatic story of life
] in the picturesque western sheep
i country. Kate Prentice, played by
j Anita Stewart, is the pretty daugh- j
j ter of the proprietress of a question- j
I able roadhouse. Saved from the ad- j
i vances of Pete Mullendore, half In- j
I
' ' * * * AT T ^ ^
j man ana nan negro, oy iuormuji out-,.
J a recluse sheep herder, she leaves the ;
; tavern. She becomes Mormon Joe's j
protege and partner in the sheep j
business. Kate is happy until she j
{ hears the gossips calling her "Mor- j
j mon Joe's Kate." Hughie Disston, j
j from the East, visits the sheep coun- ;
try, meets Kate and accepts a dare j
to take her to the Boosters' ball, j
j Kate is shunned but on the way j
I home Hughie tell her he loves her j
. 1
, and that when his college career is j
j completed, he will return for her. j
j That night Mormon Joe is murdered, j
j and suspicion points to Kate. Lack j
J of evidence frees her, .but the stain j
j remains. Kate becomes wealthy. \
i Hughie returns, but finds a change in i
| Kate, and goes back to the city,
; heart broken. Mullendore, who has
4 loivrn cknon Vinlrl IncrQ nml no- i
a^ljuutu iait;fc QIJVV|.- iiviuni^u ?..? t- ? |
iitical influence, orders Kate to leave j
the community, but fate interferes. |
Dying as a result of a fight, lie con- j
fesres murdering: Mormon Joe. Those j
'who scorned the fighting shepherdess!
! learn to love her, not excluding j
Kutrhie. But money doesn't bring j
her happiness. A big sacrifice does, j
- ?.... (
; LOANS ON COTTON
NOT BEING CALLED !
I I
i i
Banking Laws Clear?Board Power- i
less to Restrict Loans to Colton i
in Transit.
The State.
Washington, . 1). C., Au<r. 0.?Ke-1
cently the department of agriculture
addressed a letter to Gov. W. P. (I.
Harding of the federal reserve board
in which certain reports which had
reached the department were called
to his attention. These reports indicated
that, due to an existing financial
stringency, stocks of cotton in
the South were being forced on the
market at a sacrifice in price, that
grave fears were entertained by some
business men regarding the prospect
for fall for the gradual movement of
j the cotton crop, and that it was
i thought by some cotton dealers that
? e i i ;
a ruling or other torm 01 instruction
from the federal reserve board,
which limited loans on cotton to that
only which was in process of shipment,
was the fundamental cause of
the depressed condition of the market
and of the unfavorable prospect
for the future. To this communication
reply was made by Governor
Harding under date of July 1(5, which
is self-explanatory and is quoted in
part below:
> j "I acknowledge receipt of your
" -i 'II- *
J Jotter oj rnc i^tn maiam, m
J you refer to the pressure on south>:
ern markets of large stocks of low
> grade cotton. You say 'it was stated
: to a representative of this depart'
j mcnt that the federal reserve board
1 has issued instructions to member
banks not to make loans on cotton
unless shipping instructions therefor
were shown the bank?in other words
that member banks were forbidden
to finance cotton unless it has been
i j already sold for prompt shipment/
Beyond Board's Power.
BMk" federal resexre board has isHHS
such instructions. - It has no
1 A
ji'.'"!' f t." L.J.'. V-L' I U- m -'JM 'J J J LF?^L - ? . *)7i* l"" U ' power
to require member banks to j
make or refuse any loans which ,
they may wish to make. Member!
banl::: arc required oii'y to live up to '
the re?juicements of section 10 of
tlie federal reserve act relating
reserves. ;;rid the national banks can j
engage in all transactions which are ,
permitted under the revised statute (
of the United States and of section j
l.'{ of the federal reserve act. State,
banks which are members retain an-.
der the provisions of section 0 of the !
federal reserve act, all of the powers,
derived from their state cha fers and j
continue to be subject to the super-!
vision of their respective sii.l? bank- j
;n? departments.
"The board has not been advised 1
of anv circulars issuerl !-v the federal!
reserve banks in the cotton growing
districts giving advice to member!
banks as to what loans they should J
make or decline to make, and liie;
board would request that you Hsi'j
your repi'esentative who has given J
you ihe information convoyed in j
your letter to me to transmit
such circular, if any are in existence, j
or else to state how he received his j
-nn fn ilio nllpj'od advice I
1111.V1 KlCiVIVII M.J w\/ v<tv ?.. _ j
to member banks. j
.<# I\7ore Libera! Terms.
"In order to facilitate the financing
of t hi:; year's crops, the board
requested con.^rov-- early in the year j
to amend section f>200 of the reviser !
statutes. This section originally re-j
.trieted loans by a national bank to j
any one individual, firm or corpora- I
' I r\ ?i v, omnnnt r>fif" PVf'PPfJ i *1"" 10 !
l/i VIZ t'./ (ill auivuii w i?"v v.wx 0 - . . ^
oor cent, of the bank's cjtpitfil j
surplus. Congress, however, acted j
upon the surestioil of the hoard j
rind section 5200 as amended now i
provides that for a period of six j
months oat of any consecutive 12 j
months a national -foanK may lenu to j
an individual, firm or corporation up i
to 25 per ccnt. of its capital and sur- j
plus where loans in cxcess of the reg-;
ular 10 per cent, limitation are se?ured
by warehouse receipts for
mm ko.bihle stanlcs.
"The accumulation of low trade!
*
cotton is due in pari to the difticulty j
in making financial arrangements
necessary to sell it to the mills in
the Central European countries,
which have always been the princi-!
->al consumers of low ??radc cottons. I
i
The member banks in the South no !
dcubt feel -reluctant to carry too;
large a volume of loarrs on collateral \
which is not readily salable.
"You say that 'prior to the enact- j
:ncnt of the federal reserve act there |
were independent banks in the cot-;
ton belt which made it a practice to j
lend on cotton as collateral' and that]
'most of these banks are now members
of the federal reserve system
and their policy as to loans is largely
determined by regulations of the |
federal reserve board.'
"As a result of the changes in the *
banking law made by the federal-re-j
serve act the lending power of all ;
banks has been greatly increased!
since 1914. The banks in the cot-!
ton belt, in cases where they are not;
over loaded in other directions, can j
make much larger loans on cotton >
this fa!! than ever before. To what!
i
i extent , however, these banks will be1
able to rediscount at the federal rc- !
serve banks I am unable to say. See-'
I lion 4 of the federal reserve act re- i
quires the board of directors a j
federal reserve bank to administer;
the affairs of the bank 'fairly and j
impartially and without discrimina- i
lien in favor of or against any mem-1
ber bank or banks' and that the said j
I board 'shall, subject to the provisions i
; of law and the orders of the federal 1
' reserve board extend to each member |
bank such discounts, advancements i
and accommodations as may be safe- j
| ly and reasonably made with due re- j
1 jrard for the claims and demands of j
! other member bank." I feel sure, I
i however, that the federal reserve
1 banks will do all that can reasonably
' be expected of them to aid in the orj
derly marketing of the cotton crop."!
i J
NOTICE OF FINAL SETTLEMENT;
Notice is hereby given that the un-1
; dersigned will make final settlement J
i of the estate of John C. Wicker, de- j
.ceased, in the Probate Court fori
j Newberry county on Monday, August!
; 30th, 1920, at il o'clock a. m., and i
j will immediately thereafter make ap-i
j plication to the said court for final:
dincharge as such executor. All per- j
sons indebted to the said estate will j
1'-A - - All n r\ > _ !
m.iKC immediate jiciyiuuni/. >
'sens holding claims against said es-:
itate will file the same, properly_at-!
! tested, for payment on or before said j
j date, or said claims will be forever
; barred. j
II. L. PARR,
Qualified Executor.
NOTICE OF FINAL SETTLEMENT j
I will make a final settlement of ;
the estate of Robert F. McDonald in;
, the probate court for Newberry!
i county, South Carolina, on Satur-!
i day the 4th day of September, 1020, j
I at 10 o'clock in the forenoon. All j
nersons holding claims against said j
estate will present them duly attestI
ed to the undersigned by said date
J or they will be forever barred. I
i will ask for. my discharge as administrator
of said estate.
I- XT T> M/.n
)JUL? XV* AUVJL/vimiviy
Administrator.
j Newberry/, August 2, 1920.
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swberry County Dealers
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