Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

GOVERNOR HARDING FOR CORPORATION' APPROVES ACTION TAKEN BY 4 FARMERS OF SOUTH CAROLINA <j <\ $ays Federal Reserve Board Pre- v' pared to Render AH Reason- tl Aceictanrp. OW4V n?0?v?*??v. The News and Courier. Columbia, Aug. 26.?Formation of the Cotton Export corporation by the ^ American Cotton association is j "warmly approved by Gov. W. P. Warding of the federal reserve board j ^ in a telegram sent by him to J. Skot- ^ towe Wannamaker, president of the American Cotton association. c The telegram from Governor Harding to Mr. Wannamaker, which was j piade public today, follows: "J. S. Wannamaker, president of e ihe American Cotton association, p T IIxwItt XTo Hernial Vvor>I- Knildirif. Co- x JUiUCl nabiv/ixa^ -~???7 " - | ^ lumbia, S. C. Answering your tele-! s gram, would state that the policy of j ^ the federal reserve banks for many j snonths past has been so shaped as to j Ti tenable them to render all reasonable j t assistance to member banks in facili- j v tating the processes of production ^ and brderly distribution of essential j ^commodities, including the products j. iof mines and factories as well as 0 farms. I j. "The crop movement is a seasonal h one, and in this early stage re- 0 quires large additional credits. Fed* "? Jl i. ieral reserve oanKs are prepareu iv s v meet all legitimate demands made p upon them" by member banks for mov- p ing the crops, but your attention is j called to the fact that under the law j t< federal reserve banks can not make r: direct loans. They can only rediscount for member banks, which in- 1, stitutions are obliged to observe the ? limitations prescribed by law upon their loans. M?st Depend on Local Banks. "Growers and distributers of agri- f] fcultural products usually have no si broad financial connections and are b obliged to depend for accommoda- ti tions upon local banks, consequently, fi notwithstanding the desire to re- o Bpond fully to the needs of farmer, c member banks frequently find it impossible to extend all accommoda- b tions desired. Complaints are made w fry wool growers and wheat farmers j e as well as by cotton men of lack of j j] **""~?ea.dy markets and of insufficient v transportation facilities. "The board urges cooperation be- ? tween banks and producers in order ; 0 that the burden of carrying crops awaiting transportation to market t may be as evenly distributed as pos- T Bible. | f "In actual sales and full returns ii it is thought that the most pressing ii needs of farmers can be provided for v without exhausting the credit facilities of local banks, which have their g legal limitations. I had an interview f; yesterday with the minister of Cze- h cho-Slovakia, who stated that the sea- n sonal needs of mills in his country v alone for cotton amount to 700,000 t t bales, but owing to deterioration in F exchange and inability to ship gold, n it was impossible for the mills to take p anything like this amount of cotton o unless nine months' credits are pro- j f vided. He stated that the mills in r his country will be able to pay for j p raw cotton furnished them as sojn as manufactured and sold, and express-j s< ed the opinion that a syndicate of j i< mills and banks in his country backed by a guarantee of his government o could give satisfactory assurance of j payment at the end of the time speci- j P fied. Anticipated Situation. I F "I anticipated the present situa- j? tion in the year of 1919, when I! urged the formation of a large cotton j export corporation. Since then congress has legislated, passing the Edge act, under which these corporations 11 can be formed under a federal char-; ^ ter. Central Europe has the spinning ;v and weaving capacity, the mills and i* the labor, but lacks raw material, jr The South has the raw cotton. If a corporation could be formed under the Edge act taking cotton in pay- P ment for stock there could be oppor- s tunity for direct dealings between j Southern producers and Europe?ni^ mills. A movement of this kind would j put new life in the market, for it j P would stimulate buying by domestic j" 'and British mills. The degree of. risk appears to depend upon the sta- s. "bility of governments in central Eu-'a rope and if capital which is not in- ic terested in cotton growing does not; j ti care to assume this risk it must be j borne by producers themselves. If ! v anything is to be done do not think c. the cotton situation can be improved b by calamity talk, which can only lead n j i" j : j i. t _ 1: 1 c XO iurcner depression, uut jl oeiieve iu , ^ can be saved if there is injected a get together spirit of courage, self reliance and determination followed by tl prompt action along practical and , P constructive lines. j o "People who help themselves are o: assured of the most dependable andj frective help. 11 ''Courage breeds confidence and'<lothing succeeds like success. i (Signed) <;W. P. G. Harding." p 9 <$ <$> <? <$> <e> < > v -?> <e> <$ <S> <$ *> i Q ? <?> | AT THE OPERA HOUSE. i> 'The Little Shepherd cf Kingdom j i Come." !l * i .1 I __ _!. Jack FicKiora secretly cnerisneciii . hope, years ago, that he would, at j ?ne time or another, make the pic-it ure called "The Little Sheoherd of i r ! X kingdom Come'' and he has at lascjt ealized his hope. "The Little Shep terd of Kingdom Come'' is the first I | Joldwvn starring vehicle for Jack 11 Mckford, and can be seen at thejc pera house Tuesday. j\ The story was written by the; j ohn Fox, Jr., and concerns a little j I nountain waif whose destiny, work- j? d out by the God of Chance, trans-|c lants him from one grade o" society j] o another with such ease and j c moothness that the little mountain j ioy is not aware of the change. ! g The role of a mountain boy is a j 1 ew departure for Jack Pickford andip he chlange from his usual role of the ;c oung: society man has proven very (j esirable to him. In every day life n ack Pickford is a fresh air enthusast and his favorite sports are all u utaoors. The role of a mountain ? id gives him the opportunity to ex- r ibit some of his athletic prowess, f which he takes full advantage, j " "J on nil ! + The star is suppurtcu uj t tar cast including: Ciara Horton, ? 'auline Stark, Dwight Crittenden, J. d 'arke Jones, Edythe Chapman, I ames Neill, R. D. McClean, H. Mil- a Dn Ross, Nick Cogley, Aggie Her- j ing and Dudley Hendricks. The picture was directed by Walice Worsley and photographed by s >on Short. v h "The S!im Princess." "The Slim Princess," adapted b rom George Ade's musical comedy access, just suits the adorable Mael Normand. Its hilarious plot, ravelling at high speed in a colorul and fantastic atmosphere, is tail- ^ rmade for her spontaneous spirit of b omedy. | ^ It is brimful of exploitation possiiiities. The title itself is loaded ' -ith suggestions for the quick-witted xhibitor. You can't press too heavy on the loud pedal of publicity rith a picture like this. The picture opens in the fantastic .'astern kingdom of Morovenia?the ne spot on earth where beauty is weighed, and where women pray for he fat that makes them beautiful. 'he little Princess Kalora is delightally slender, and graceful as a reed i the wind, which, instead of boostig her chances, makes her a dead /eight on the matrimonial market. Ker father, the Count Selim Malaaski, is desnerate in his attempt to f atten Kalora and marry her off. All is efforts fail?the little princess relains thin?"As thin as a drink of rater," the gossips say. Then appears one Alexander H. 'ike, a young American steel magate, who is sick of the sight of 300 ound beauties, and longs for just ne petite damsel in this land of the atted calf. A most astounding seies of incidents occur. Laugh is iled upon laugh. The rollicking label pimvheels through scene after cene of giddy action until the climax > reached in a rosy haze of romance. "The Slim Princess" will be at the pera house Thursday. RICES MOVING DOWN, ASSERTS RESERVE BOARD tankers See Marked Indications of Lower Living Costs in Practically AH Lines of Commodities. Washington, Aug. 26.?Marked idications that living costs apparenthave started on their awaited fall *as said by the federal reserve board oday to be contained in its latest eports. An "important downward endency" in prices of all commodiies excepting food is evidenced in all arts of the country, the board tated, adding that a sharp reduction i the price of raw products even orecast lower food prices. The board in commenting on the rice changes said there had been a pronounced checking" of specula- j ion as well as a definite" although j light increase in general efficiency j 1 ~ * " ^ 1 I if rt/1 2 nu an tfijuuiiy pusjLivc ^ci nunitu : urtailment of extravagant expendi- j are and unnecessary borrowing." j The board's reports reveal that j ,'ithin the /last two months price j hansres have been marked in all I asic raw products, but have been i lost noticeable in wool, silk and { ;ather. Complex of Factors. "The downward tendency of prices," | le board said, "is not to be exlained by reference to any one cause r set of causes, but is the outcome . f a complex of factors." A "depressed situation" was said o cxi^t in the leather and shoe iniust;y. Some manufacturers ai <_ >lov. n placing: orders with leather dealers vith the result that prices on raw naterial have suffered a heavy de line. "Large stock of leather and hides, vhich had accumulated." the board isserted, ''coupled with a failing* oil n consumption demand, are c-urrenty regarded as primarily responsible "or the drop in leather prices." The break in the silk market and he subsequent falling of retail - - > >ric-es of that textile was aunuuicu o speculative activity in Japan. Lower Prices ExpectccL Lower prices on cotton and colon products were forecast because >f an expected heavy crop combined vith a slowing up of demand. Few ;ew orders are being placed, partiy >ecause of the lateness of the seaon and because jobbers and retailers :onfider.tly hope for a prevailing ower level of prices when sales on otton goods reopen next spring. In addition, the board foresees a renerallv higher efficiency by labor n industrial production and an imiroved transportation service. This ombination is believed to mean that epleted stocks would be restored to ormal in the near future. ''It remains true, ' the board said, :that there is at the present a wide ap between the new level of raw uaterial values and the prevailing gvel of retail prices. "For the coming autumn and win er seasons it is likely, however, that his downward movement will be evident in comparatively small degree, n many lines higher retail prices re predicted." Is It Possible? Mrs. Knagg (with magazine)?It ays here that a South Sea island vife isn't supposed to talk until her usband speaks , first. Knagg?I'll bet some of those husbands are fool enough to do it. Vamped. Birmingham Age-Herald. "If you will permit me to say so, ou have just had a beautiful caller." "Yes, a book agent," replied the >usinegr man, with faraway look in is eyes. ???????????? BHHHm J?JWJWiiiinifc. nr !; _ \ Here's the big chance of cut down your Spri: tube equipment exp Buy Vacuum Cup each lire you will gi Tube of correspoi LUTELY FREE! Xr This generous offer is LI] Spring and Summer your order AT ONC Vacuum Cup Tires and an indispensable con who demands absoli 'Adjustment basis ? per : each casing: Vacuum Cup Fabric Tire3 Vacuum Cup Cord Tires __ mt.II DF.R H \ I I Newberi 1 Subdivide and Sell by gjjj Results are Quick est returns for your land. You I? though rented for 1920. The Path be worth hundreds of dollars to y ATLANTIC "The Name T: Bsl )?l Offices: PETERSEN 35 4\ w/ 'f** ir^zh /o ^c*ercrice": -A--~ 3^nl; DAVIS REALTY C Local Contract Re \ "What was she selling':'' "I couldn't tell you to save my life. All I know, is that she smiled | an'.] I bought.*' i. ! NOTICE OF SPECIAL SCHOOL ! ELECTION IN BUSH RIVER SCHOOL DISTRICT NO. 43. ! The State of South Carolina, County of Newberry. Whereas, a written petition or request made and signed by at least j one-third of the resident electors and la like proportion of the resident freei holders of the aire of 21 years of disfriH \o. 48 of Newberry . county, the State oi South Carolina, i having been duly presented to us re| questing us to order an election subj mitting to the qualified voters or elec! tors of said school district the quesi tion of issuing and selling coupon bonds of said school district, payi able to bearer, aggregating the sum !of two thousand-and four hundred ! f ?2.-100) dollars, in such denomina 1 tions as we may deem necessary, not : to exceed 4 per cent, of the assessed i valuation of the property of said . school district for taxation, bearing a 1 rate of interest not exceeding G per ; cent, per annum payable annually, | at such times as we may deem best, ito determine whether said bonds ! styll be issued or not as provided in (Section 1743 of Volume I of the : 1012 Code of Laws of said state; and ! whereas, we, the trustees of said | school district have had a survey of : said school district made by Xeely J. i Cromer, a competent surveyor, and i a plat thereof made and filed in the | office of the clerk of the court for Newberry county, in said state. 1 - 1? J +V.O Ao\v. ce 11 resuiveu, uuu xm mv, purpose of determining: the issue of j said bonds as authorized in Sebtion ! 1743 of Volume I of the 1912 Code ' of Laws for said state, an election is ; hereby ordered to be held at or near | Mr. M. M. Satterwhite's home in said I school district, on Saturday, the 11th ! day of September, 1920, the polls to I be opened at 7 o'clock in the forei noon, and closed at 4 o'clock in the afternoon, on the question of whether such bonds shall be issued or not, in which election only qualified voters or electors residing in said school district shall be allowed to vote. W. T. Buford, J. R. Longshore ; and J. T. Senn are hereby appointed . ? ph/JII r?lnn+ir\T\ j JIliUl<l?C10 Ui The ballot cast must have written or printed on it the word "For I Bonds" or "Against Bonds."' C. G. Johnson, L. C. Singley, F. M. Satterwhite, Trustees of School District No. 43 j of Newberry County, the State of j South Carolina. j August 26, 1920. the season to materially ?.g and Summer tire and cnditures. , .M Tires NOW!' With -4-:Sm it one "Ton Tested'91 nding size, ABSO-? MITED." Anticipate yoilf 1 requirements and^place,j||| "Ton Tested" Tubes^are^^ nbination for the motoristS|i| itely highest quality^ warranty tag attached tojL - . 6,000 MilesW 9,000 (VEEKS CO. jj Oiir Modern Method 1 Our Scientific Service, endorsed by 8K hundreds of sellers, yields you larg- ||g r farm will really sell now, even 38 innder gives full particulars?it n SB COAST REALTY CO, I liat Justifies Your Confidence" 'RG,VA. and GREENVILLE, N. C. 11 ; in Petersburg Va or G.reenv'*!!e, N. C. RjK; O., GREENWOOD, S. C., ; prcsentalives. I OUR CAMPA |J Everybody is No I OIL 1J I In proof of this ma are our friends and o\ Since we commenc j I now actively under wc j | In the meantime sc tice and have their see ! \ Georgia. This mean* STOP AND 1 I Cumulative in its natui I brought to light. Act can see today surroun from the wrecked Hii structure we have loc to go by the first of Se thirty other seepages c chemical test. No wo ting busy. But say, tl: r*Via llr riflorp pyf^nrlino I only we contend for < will show a barrel on the well near Savann? der why people are b< Georgia. We once appealed patriotism. That day now is based on r-ni n oi ^ OL Analyze our position, gc finding a life study, see wha request. After reading car your dollars* which should b ;! Lister People are buying lease. ! wav rsrirl Iiavp some kindlv h I I their holdings. With the a you have about one chance i Compa Right here at your door 1 any state envious. We are develop around us. We are down. We passed the troubl foot casing drive and will soc we will realize our fondest b Lillian B No. 2, in JefF D; of September with everythi: thy treasury to carry on the \7i/1 Uotro o/l/loH trt mir IS C liuvi. auuvu iv wm* v. 2 our field men, all of which a: Our Slog; Dh Our sale is rapidly drawii a pro rata interest in all pr< GET IN ON if^ I We want to warn you, he drilling may unearth somethi any price. It is your risk to WE WANTN We are arranging at the resentative of each to the Icok over our outfits, talk w taken over and given an ABSOLl 1? (without any oougauon, umy over. WRITE FOR I Middle Georg Oil & Gas Cc I Flat Iron Building Atlanta, Ga. IGN HAS BEEN Aj w Convinced As to the Ex N GEOR< ny who scoffed the loudest i vn stock in the company. ed the agitation of this subje ty with four more in progres me of the oldest companies ills taking leases through th< 5 something. iHINK OF THE re, favorable to success, m ual seepages of burning gas ding our Lillian B No. 1; a ison well in Jeff Davis cour ated Lillian B No. 2, on whi< ptember, besides the uneai >f actual petroleum oil which nder people are being conv te Waukalla, Florida,* well .1 If - 1 L 1 ' to me guir, auuui tunuuuc ivery gallon they produce tl the apex of this ridge. Do ih last week struck gas. Ca scorning aroused over the s . to you from a standpoint of r has passed. The appeal > OODED BU! t the reports of geologists and other; t they are predicting. We will glad) efully if you have the nerve and f. e returned to you an hundred-fold ii i to Cold Fa s in Texas and other states, expectii and to come along and make them verage leasing scheme being peddlec n a million, provided the titles were re Your Cha we have predictions of abundant oil not trusting to chance for seme on< i going after it ourselves. The Lilli lesome quick sands at 400 feet and >n be on the 2,200 foot drive where iope (oil in abundance). avis county, will start with a double ng on hand to complete, everything work. - - - - - - i> ?i _ iginal holdings surrounding otner se re increased assets of the company. in is, Oil by Chris ridends in 1921 ig to a close. The number of unsold >fits of the company is relatively sm THE GROUND I OU WILL ACT QUICKL jwever, we are getting down to a <3 ng that will cause us to withdraw ; delay. 0 DISSATISFIED PUR' > conclusion of our sale to organize c elds to see for themselves, meet our ith the men on the jobs. These co JTELY FREE their honest impression, after carefi OUR CLUB PLAN . . MAIL TODAY?"-Tomorrow ;ia Ghas. G. Peeler, Sales Man; I Gresham Hotel, Coluir A ? i . ? Mail new booklet and gi\ as to your club plan. Am ii Name Address N H & N Write Plain nnnBnBnBni SUCCESS 1 :istence of GIAn the beginning ;ct five tests are s. are taking noe chalk ridge of rufixrirrr tUULNlfi rhich has been i which any one ictual oil taken ity. Close to the ch will be ready -thing of over Tirill fitan/1 OVAfl7 TT AAA O iUHVt V V wa J inced and getof oil on this is the argument, tat far down we not forget that n you still wonubject of oil in i : state pride and ve make to you 3INESS 5 who have made oil [y furnish copies on aith, risk a few of i a very short while. cts ng luck to come their rich by drilling near 1 through this section i to prove good. nces , which would make IB 3 to come along and am B No. 1 is going 1 are now on the 800 I the experts say that 1 crew about the first I paid for and a heal- I epages approved hy I ;tmas || lots which gives you H all. You can still I 7LOOR ? I lepth where a day's I all unsold shares at | CHASER I Jubs and take a rep- I people face to face, S mmitteemen will be 1 trip I " * 1 il_ I miy looKing imngs i AT ONCE r May Be Too Late. S / ager, j ibia, S. C. re us full particulars nterested. -- - II .