The dispatch-news. [volume] (Lexington, S.C.) 1919-2001, May 10, 1922, Image 2
CHEMISTS SEEK.
NEW AUTO FUEL.
"Alcohol can never be anything
more than a help where motor fuels
are concerned," an official of the Bureau
of Mines said recently. "'All
the alcohol we are able to produce
can be profitably used in the making
of fuel mixtures, but, for all that has
been said to the contrary, the quantity
obtainable is relatively small.
"Much has been said about the
utilization of cornstalks for making
alcohol on an enormous scale, but
there is nothing in the idea. Cornstalks
are bulky; it would not pay
to transport them in great quantities
to big central plants for distillation.
To make such use practicable there
should be a plant for every five square
miles, run perhaps on a cooperative
plan by farmers. But how many
billions of dollars a year would it cosi
to watch the farmers and see tha:
the alcohol was not sold for beverage
purposes?
"In the year 1921 vre consumed in
this country 7,080,000,000 gallons of
gasoline. During the same period
we exported 1,954,000,000 gallons.
Our production of alcohol in the
twelve months was about 100,000,000
gallons. So you see how small a
figure relatively the alcohol cut.
"Alcohol can never take the place
of gasoline as a motor fuel. There
would have to be a special carburetor
to vaporize it, and the power generated
by it is not nearly so great as
that obtainable from gasoline or a
I
mixture.
"The so-called 'auxiliary' motor
fuels are composed either of gasoline
and benzol or of those two with
alcohol added. Benzol, as you
doubtless know, is a by-product of
coal distillation. It was produced on
a large scale incidentally to the distillation
of coal or toluol during the
war?the toluol being required for
the manufacture of high explosives?
and since then the output of benzo:
has been continued.
"In Brazil trials have been made
rtnnta inint* a lr>nV>r>l kcr
JL IIUAIUIUO VVilfcMAUiUQ v%.vw.v., ....
osene, sulphuric acid and even castor
oil; but they have not been successful.
Official reports on results obtained
acknowledge, first, fewer miles
to the gallon; second,- diminished
poWer, with consequent difficulty cn
steep grades or with heavy loads;
third, trouble in starting the motor in
the morning after several hours idlep;
ness; and, fourth, dissolvent effect on
tanks, pipes, etc., with consequentj&I^Y
. - clogg****' nf th" carburetor.
'grade fuel with a hi^-he - boiling po:. ~
ef " r.erh. oven keroser.t. though in cr
Poer XO accompxisn IXlC^C W C iHUOw YT Vi ^
w -outf the problem of engine construction
on new lines."
PREDICTS AfT EARLY
RETURN TO PROSPERITY.
&' '
By far, the most notable business
change in the Metropolitan financia?
district during recent months is th<
removal of the offices of the nationally
known New York Stock and Cotton
Exchange house of Springs &
Company from the Cotton Exchange
Building, its headquarters for a quar.ter
of a century, to No. 67 Wall
Street, situated in the very heart of
the world's money center.
The firm of Springs & Company has
a remarkable business record. Established
in 1897 as J. H. Parker <?
Company, the name was changed in
1906 to the present style. The volume
of commission business transacted
has ever been on the increase
until today it is one of the greatest
and most reputable factors operating
through the New York Stock and
Cotton Exchanges. It is also a member
of the New York Coffee & Sugar
Exchange, of the New York Produce
Exchange and of the Chicago Board of
Trade. In addition, it has corres
pondents in tne principal cities ui me
United States and in not a few of the
leading cities of the West Indies, Central
and South America and Europe.
The firm has one of the most important
clienteles of any of its class in
the country, a large number of whom
are old customers. The members of
Springs & Company take great pride
in retaining these customers, however,
it is said: "Once a customer of Springs
& Company, always a customer." The
service is reliable; not mechanical, but
personal. It is pointed out.that of all
the market predictions the firm has
made, they have invariably materialized.
To cite a recent example:
When American Woolen stock was at
its lowest and when nearly every
brokerage house was inclined to be
bearish, Springs & Company urged
their customers, to purchase the security
for investment. Quite a large
number took advantage of the advice,
and like in other numerous instances,
they find that handsome profits have
been realized.
The members of the firm of Springs
& Company have long been prominent
!%.
%'
*
! in Eastern financial circles. Julian A.
' Accsta, the present head of the firm,
| is acknowledged one of the leading
brokers in the country and is a cotton
j expert of note. He entered the em|
ploy of the predecessor partnership,
; J. 11. Parker & Company, at about
! the time of its inception in 1S97. Mr.
' Acosta has served in every capacity of
! the brokerage business. Since 1909 he
; has been a member of Springs &
I
Company and for some time has b*?en
ranking member and head of the firm.
j He is a director of the Continental
i bank of New York,
j The personnel of Springs &. Comi
pany and the predecessor partnership
| has undergone little change in the past
23 years. Charles J. P.urke is now a
' partner, while Richard A. Springs is
i .. .
. a special partner.
Commenting on the business out:
look. Mr. Acosta said:
I
; "We look for an early return of;
prosperity and are very confident of
I the future. The present upward i
trend of business, in our opinion, will
i
S continue. The basis for this expec-i
! tation is not that business must im- |
j prove because it has been bad. !
> I
| Rather, an analysis of the fundameni
j
; tal economic situation?a strong se!
curity market, low money rates, higher !
, ?
I prices for raw materials, increasing {
j of wholesale prices gradually pre-1
i dominating over decreases, improve|
ment in the railroad situation?reveals
j powerful forces making for business
' expansion.
! ''The increase in the volume of
manufacturing in the first quarter
j shows clearly the result of these conditions
in forcing greater production.
even when that effect was least expected.
Textile mills are increasing
: their outputs. Cotton is in good de-j
Xo. S133.
REPORT OF THi
PALMETTO NA
; at Columbia, in the state of South Caro
| 1922.
RESOU
Loans and discounts, including rediscoui
j ances of other banks, and fore^n 1
j change or drafts sold with indorsem
j bank (except those shown below) ..
: Loans and discounts War Finance Con
| Customers' liability account of accepta;
! bank imrchased or discounted by it
i
Total loans
j U. S. Government securities owned:
Deposited to secure circulation (U.
par value)
j All other United States Government sei
Total .
(Other bonds, secretin, etc...
. . hoU?e. and rylures
,il r!n
Ijjgjaount due from state banks, banker,
Sl^compames In the United States <oth
I UUUCU auuvc;
Exchanges for,clearing house
Totals of items above .. .. .. $ 1
| Checks and drafts on banks (includin
Reserve Bank) located outside of ci
I of reporting bank
j Miscellenous cash items
, Redemption fund with U. S. Treasur
i from U. S. Treasurer
i
Total
LIABIL
i Capital stock paid in
1 Surplus fund
j Undivided profits
J Less current expenses, interest and
J Circulating notes outstanding
I Amount due to federal reserve bank
j credits) ./
i Amount due to national banks
j Amount due to state banks, bankers,
1 companies in the United States am
j countries (other than included in ite
j Certified checks outstanding
j Cashier's checks on own bank outstar
Total of items ?obve $1
'Demand deposits Mother than bank
subject to reserve (deposits payabh
! days):
j Individual deposits subject to check .
j Certificates of deposit due in less thai
| (other than for money borrowed) .
j Dividends unpaid,
Total of demand deposits (other
deposits) subject to reserve $2
: Time deposits subject to reserve (paya
i days or subject to 30 days or moer
| postal savings):
i Certificates of deposit (other than for
rowed)
J Other time deposits
Postal savings deposits
Total of time deposits subject
itema above $3
United States deposits (other than ]
ings), including war loan deposit a
deno<iits of United States disbursing
United States government securities be
Bills payable (including all obligations
money borrowed other than redsc<
i Finance Corporation
Notes and bills rediscounted, including
of other banks and foreign bills of c
drafts sold with indorsement of thi
Acceptances executed by this bank foi
1 and to furnish dollar exchange .. .
Less acceptances of this bank purcha
counted
Total
State of South Carolina, County of Flic
I, W. M. Gibbes, Jr., Cashier of the
that the above statement is true tor th<
Subscribed and sworn to before me
Correct?at test:
JOHN JACOB SE13ELS,
i. M. MAULDIN,
WIJ.IE JONES,
Directors.
. V
mand and we looi- for .higher prices
in this commodity on a? -nuni of the
backwardness of the season, depletion
j of stocks and the due* ion .n acreage
in some district.
"Cotton is a biggei met- in the
: business of the Un r- J Stair, than ir
i
j is generally suppos ' to be. In fact,
this country corrtro ' n market
of the world fv. ... ? ces the
greatest amount* ar.d it has t.uality.
While India product much < tton, it
is of very poor quality. Th. British
have made strenuous ;-fforts South
Africa to increase < atou production
i
i with the view of be( enii^iiiUpendent
of the United St . but thout
any degree of success. Egypt, Cen,
tral and South America are minoi
factors in cotton production ."
By way of parenthesis. 1: is noteworthy
that in 1910 Springs & Company
handled 125,000 tales of oiton
| of which 30,000 bales were sold :n the
' South, the balance finding its v ;/ to
i France, England, Germany, and nrher
parts of Europe."
I Continuing, Mr. Acosta raid:
"""<*?? ?e for a risO. f rent
OUjijUl ItJ u\*v ? prices
are lower than th ;so. Li in.-, . ill
obtain later on in the year, * On;.- <;orrespondents
in Cuba. Port? Rico, -nd
Central America are sendrtfg in reports
that will have a tendency to reate
a bullish market.
"In l'act, we are bullish ail around.
We have been urging our uustcrm-rs to
buy for the last seven months?many
have bought and they certainly hcoe
made money. Of course, we &r . ]y
bullish when conditions warrant optimism?and
conditions atthis time
warrant the belief that v-e are-on ':ej
eve of a period of higher prices and
general prosperity."
Mr. Acosta concluded oy saying he
... .-.naes*
Reserve Dist i iet No. 5.
) CONDITION OF
TIONAL BANK f
lina, at the close of business oh :>,
V
RCES.
nts, acceptDills
of exent
of this if
$7,476,863.67 %
Doration .. 138,095.40
ices of this ^7
12,500.00
r _ JM..... . j
$ <.t>Z/XAT'. W
S. bonds
$1,000,000.00
curities ... 363,700.00
,
. . * l-:- ^
3 and h use A i
er than in
4S3,8C0.26j
3G4.CG6*.42 j
,377,535.27
g Federal
ity or town
$ 4,724.07
86,147.21
. C/ a t 71 _ 2 8 '
er and due !
50,000.00;
......... $11,66^,214.73 i
JTIES. / i
. $ 1,000.000.00 I
2 ;C OQO.t'O
278,446.75
taxes paid.. 190,443.80
r? S 8.0 02.9 1
1,000,COu. 00 ;
(deferred
132,119.79 i
6 j 52 v> 1 .-14
and trust
1 foreign
ms above) 834,331.31
9,791. v2
iding .... 91.12*'. 15
,742,634.07
deposits)
i within 30
2,61? j ,t/03. iZ
i 30 days
10,000. oil
* * '' * *
than bank
!,701,084.15
ble after 30
notice and
money bor
213 7 o . v
3,6->.37 C.'fi
j.S
to reserve,
:,842,939.32
oostal sav.ccount
and
offcers ... 17 -i." 2 ..?3
irrowed ... 4 0. ?j 0 0.! 1 u
representng
Dunts) War
2:1
acceptances
exchange or
s bank ... 6C';.'7. .
r customers
.$12,250.00
sed or dis
1 I'O.vJ
$11,665.1:4 . 7
hland, ss.:
above named bank, do solemn:: a ^
b best of my knowledge and b'
W. M. GIBBES, JR
Ca. b.. .
this 8th day of May, 1922.
MARIAN CLAR: - r
Notary P \V:
{ has reason to believe the Genoa Conference
will result in the gradual improvement
of European economc conditions.
One thing he made very
I clear and that is the United States is
on the very brink of prosperity.?
Commercial and Financial World (N.
I Y'}
A Choice of Evils.
George: Why are you goin' homeso
soon?
Johnny: 'Cause I'm goin' to get a
| spankin' when I get there,
j George: Why are you so anxious to
get it?
Johnny: Well, if I go home now,
ma will spank me, but if 1 stay any
longer pa will be home and then he'll
do it.
CITATION NOTICE.
State of South Carolina, County of
Lexington?By W. F. Hook, es{
quire, probate judge.
j Whereas, D. J. King made suit to
| mo, to grant him Letters of AdminisI
trarinn nf fhp Estate of and effects of
j Eugenia King.
J These are Therefore to cite and auj
monish all and singular the kindred
l and Creditors of the said Eugenia
! King deceased, that they he and appear,
before me, in the Court of Probate,
to be held at Lexington, C. H.,
i S. C., on 3 2th day May, 1922. next.
J after publication hereof at 11 o'clock
in the forenoon, to show cause, if
any they have, why the said Administration
should not be granted.
Given under my Hand, this 2Sth day j
of April, Anno Domini 1922. j
W. F. HOOK (L. S.) j
Probate Judge Lexington County, S.
C.
Published on the 3d day of May,
1922, in the Lexington paper, 2 weeks.
NOTICE TO CONTRACTORS.
Sealed bids will be received up to
Friday noon, May 12th, for the erection
of a brick school building at Gaston
in the County of Lexington, at
the office of the County Superintendent
of Education, Lexington, S. C.
Bids are asked for design TB, Clemson
Bulletin, which is a building with
an auditorium and three class rooms,
brick and brick veneering, als'o for design
U, Clemson Bulletin, which is a
four room building with auditorium,
of the same construction as design
TB. The Board of Trustees ask for
Kiflci nn hnth nf theqp>. designs for the
i're^vrL thai ?h lint..?:;
intendefti. Kach bidder will be required
to give a certified check for
f $50.00 to show that he is in good
faith. The Board of Trustees reserve
the right to reject^all bids. Successful
bidder will be required to give
a nominal bond for faithful performance
of contract.
M. L. POUND,
j Chairman of Board of Trustees Gaston
School District No. 76, Lex,
ington County. 2w-c
SHOES!
|
j THE KIND THAT WEARS
EASY AND LONGEST.
i
| We are^ always prepared to serve
| our Lexington friends from a large
; stock of dependable Shoes for every
! kind of wear, in all leathers and sizes.
' The "Family Shoe Store of Colum:
oia."
|E. P. & F. A. DAVIS
j Farmers' Medium and Heavy Work
Shoes a Specialty.
I PROFESSIONAL CARDS
: >
i
| MOVED
! from 1615 Main St., to 1423
; Main St.
DR. CLARK,
Chiropodist.
* cn A irvrcrc
i * riv/iiiiv
Real Estate and Insurance
BATESBURG. S. C.
B. J. WINGARD
ATTORNEY AT LAW
No. 12 Clark Law Building
Law Range Telephone 111
COLUMBIA. S .C.
i
, H
I "Everything Good To Eat"
j AT THE
Sanitary Cafe
| 1345 Main Street, Columbia, S. C.
I
pome Cooking and Reasonable Prices,
"Little Different" from the others
Quick, Polite and attentive service.
Open Day and Night.
Are You Working With a Purpose
Work of any sort is pure drudgery if it means merely earning
your existence. But with a purpose back of it you are working {
for a reward and it lightens your tasks and makes work a real
pleasure.
Plave a purpose in life! Make your life -a success! Start by
building up a savings account in this institution. It will furnish
you with the means to attain your object. A comforTabip home,
independence, wealth?they all come within your reach if you
persistently save.
Same rate cf interest (4 per cent.) paid on both large and email , V
accounts.
THE OLD RELIABLE
TLa \Ta4>?a4?a1 Dnnlr a! ^nliimkiA
i lie laiuiiua nauunai uaiiii ui uuiumuia i
i W. A. Clark, President. Jno. D. Bell, Asst. Cashier. I
I T. S. Bryan, V. President. Jos. M. Bell, Cashier.
I ' J
I f
The Average Man H
f V
Does not realize all that a Bank means to a community.
It is a friend?end then some.
. A Real Bank |
Is a financial institution that functions for the welfare
of the community it serves. It has machinery at hand
for the solving of all the financial problems of its clientele.
I
n . f T:m . , t> a * f ,
5 f - 5 Isf* tS'ls S
ibst
ii'. ;"maaer .now sp-v?>e .a your.. loea or hfe. prxebvear xt;f^
fnay he. u you have not S4VED 2o\r>ceiling youx idea
will not bring you the reward it deserves. It it be car- ^ ;
ried out, the man who has saved and whose money is
behind your idea, is the one who will profit most.
Let Us Help You Save
The Home National Bank
Lexington, S. C.
Capital, $50,000.00 Deposits, $600,000.00
Member of Federal Reserve Association
j
Corn Seed?All Varities
Cotton Seed
King's Improved Extra Early Cotton Seed from
originator.
\
Cow Peas and
o n
ooy Deans
We sell the best seeds that grow?Rape, Grass Seeds, |
Velvet Beans, Lespedeza, Sorghum Seeds, Pearl Millet,
Amber Cane, Watermelon, Cantaloupe and Etc.
GARDEN SEEDS?FLOWER SEEDS.
Specially selected to suit our climate.
I *10 1 I__ _
LoricK & Lowrance, inc.
Columbia, S. C.