Historical Newspapers of South Carolina

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f ENDORSE URGE COTTON CORPORATION Columbia, April 16.—Delegates from - 4be South Carotha Cotton Association to the Southern Cotton Convention in New Orleans next month met in Co- ■ luanbia yeaterday With ffiemoers of" the South Carolina delegation in both houses of the national congress. The. proposition to form a Cotton Marketing Corpoiration with $100,000,- ‘ 000 capital was heartily indorsed, with the suggestion that this capital stock be made $200,000,000 instead. It was algo recommended that lhe scope of the proposed organization he so en larged as to include cotton seed. To further enable the South to finance the cotton crop the committee also recommended that banks be urged to increase their capital stock 60 per cent, or to such amount as they may find practicable. State banks were urged to join the federal reserve sys tem so as to become links in the great chain of the national financial system and thus be in a position to widen the margin of loans that may be made to farmers on agricultural products. It was recommended that in the organi zation Of the proposed cotton market ing corporation and in the increase of capital stock of banks, Liberty bonds he accepted as stock and that farm ers be encouraged to purchase lib erally of stock in the corporations and *in the banks. In procuring subscrip tions to the cotton corporation, the amounts will be apportioned as the different Liberty loans were apportion ed in the cotton, growing States. The committee met at 11 o’clock yesterday morning at the Columbia nhamhpr nf Commerce ^and . ^wltlL- a on the cotton marketing and flnanc- tog corporation. This'commltiee coh- sisted of R. G. Rhett, L. D. Jennings and J. S. Wannamaker. The follow ing resolution offered by this com mittee, and after a full discussion, was unanimously passed: , “Resolved, That this special commit tee appointed by the South Carolina Cottcm Association do heartily indorse the proposed organization of a cot ton marketing corporation, with a capital stock of $100,000,000, and with powers to deal in and with cotton to the very fullest .extent, but would rec ommend that, if practicable, this capi tal be made $200,000,000, and its scope be enlarged to deal in and with cot ton seed. “This committee believes hat it would be practicable at this time to raise amount of $200,000,000 especially if stock be made payable in Liberty bonds, if desired by the subscriber. “It is essential in the Judgment of this committee that the majority of the stock be owned by the farmers of the South, and this committee recommends that proper provision be made to se cure this end. /. “This committee is confident that the people of South Carolina will take their proportion of the capital stock of this corporation, whether it be $100,000,000 or $200,000,000, and pledg es its full support to see that said stock is taken. “This committee recommends that all banks in the Sotith increase their combined capital and surplus by 50 per cent, or to such an amount they may flnd.tobe4)ractlcab]e,.XQrJlbemrPQ: H. Claffy, T. P. Cothran, H. E. Mont gomery and J. S. Wannamaker. The matter of changes in the na tional banking laws was ftillyi dis cussed and on motion this entire mat ter was turned oyer, to Congressman Stevenson with the request that he handle thp same. The method employed by the gov ernment in making acreage estimates and crop estimates was frilly dla. cussed, it being brought out that the representative of the government in South Carolina is one of the most ac tive and painstaking in the entire belt. This entire matter was referred to a special committee consisting of & Wannamaker, chairman, T. G. McLeod, John D. Frost and B. B. Hare, with instructions that they prepare the most practical form for the secur ing of accurate and correct crop acre age and estimate reports and use their best efforts to have the same en acted into law at the next session of the general assembly. A full and lengthy discussion of the cotton seed situation resulted in passing a motion instructing the chairman to take up with the secre- ary of agriculture and also with the pure food department, the matter of the Importation of oriental oil and the cotton seed situation as existed to day, using every effort to have same relieved. brief intermission for lunch, continu ed in session until after 4 o’clock in the afternoon. The following were present: . . Gov. R. A. Cooper, Lieut. Gov. J. T. Liles, Orangeburg: J. H. Claffy, Or angeburg: J. 9l Wannamaker, St. Mat thews: T. iP. Cothran, Greenville: B. F. McLeod, Charleston: Paul Sanders, Ritter; R. G. Rhett, Charleston, L. D. Jennings, Sumter; Douglas McIntyre, Marion: T. G. (McLeon, Blshopvillej, H. E. Montgomery, Kingstreeti B. H. Moss, Orangeburg: Senator Smith, Lynchburg: Senator Dial, Laurens; Congressman Byrnes, Aiken; Con gressman Stevenson, Cheraw; Con gressman Lever, Lexington. The meeting was organized with J. S. Wannamaker as chairman and Joseph M. McCabe as secretary. After a full an<J lengthy discussion, a special committee was appointed for the purpose of preparing resolutions “HELLO GIRLS” ON THE JOB. A firm in the city put in six long ^ distance calls a morning or two 4 ago at 8:30 a. m. One call was to j Atlanta, one to Charlotte, one to jp Indianapolis, Ihd., one to Cleve- J land, Ohio, one to Philadelphia, il J a., and the sixth to Detroit, Mich. 2 By 10 o’clock the party had talked ^ satisfactorily In.avery-one of J of enabling them to make larger loans to individual borrowers upon cotton collateral, and to meet the increasing demands upon all banks for financia assistance. “It is suggested that there is a very large investment in Liberty bonds in the South which may be converted into this increase of capital with ad vantage both to the investor and the bank. .“State banks in the South not mem bers of the federal reserve system are urged to Join the federal resrve sys- tm.” The great importance of securing the large government warehouses to be used in connection with the hand ling of cotton and other products wa& fully discussed and a special commit tee to have entire charge Of the mat ter of securing these warehouses was appointed,' consisting of R. G. Rhett, chairman, A. F. Lever, E. D. Smith, calls. This little incident is men tioned to show that the “Hello Girls” are on the job and are to be commended-(for such efficient service. SELLING CARS. The Ellis-Hatton Motor Com pany reports the following sales for the past week: G. M. Gibson, Dodge touring car; E. G. Young, I^ Hupp touring car; R. M. Tid- (marsh, (Newberrvy TAnderson Six touring car. ANNOUNCEMENT OF THE VICTORY LOAN QUOTA Your Daughters Room Is it one that she is proud of and "delights in taking her girl ^ * '.X friends to? It should be, for a girl takes pride in her own room and to deny her of “nice things” is a grave mistake. During her girl hood days neatness and order must be instilled in her, and there is no surer way than to furnish her very own room with appropriate Furniture. What would please your daughter more than a suite in Ivory like the one pictured above? If she prefers it may be had in Amer- lean Walnut or Brown Mohoganyi Such a room would pay you a lasting dividend in her happiness, and if bought here the cost will be small. Never has a more beautiful line of bedroom furniture been shown in the State than our present display. Call and look it over. S. M. £ E. H. Wits £ Go LAURENS. SOUTH CAROLINA I i i Railways Redpath Chautauqua - Fourth Night Everyone is thinking of the course the United States is to pursue with the railroads. The people must decide this great question. On the Redpath Chautauqua this season \ two public speakers will debate this problem. These speakers have been chosen by the - Redpath because of their comprehensive • expert knowledge of the entire matter and also their ability as forceful speakers. They will discuss the question from every angle. * Americans should hear this great debate. ■» Redpath Chautauqua Just ONE Attraction of the ■ *. ' , Seven Big Days 9 Program Season Tickets for the entire week $2.50 and War Tax REDRajH Laurens Chautauqua Week, 13th to 20th. Richmond, Va.—Apportionment of Victory loan in the fifth reserve dis trict was announced officially as fol lows: Maryland, $58,653,000; District of Columbia, $20,307,000; Virginia, $51,- 366,000; West Virginia, $23,625,000; North Carolina. $31,101,000; South Carolina, $24,948,000. Allotments by cities include: Washington, $20,307,000; Richmond, $15,563,650; Roanoke, $2,101,000; Alex andria. $554,800; Norfolk, $7,535,100: Raleigh, $1,733,000; Charlotte. $2,658,* 400; Columbia. $3,494,800; Charleston, S. C., $4,891,400. FIVE CENTS A MILE ONLY TO MUSTERING-IN' POINT Washington.—Travel allowances of five cents a mile to discharged soldiers Authorized by a recently enacted law can be paid only to cover expenses from the point where the soldier was discharged to the place where he was originally mustered Into the service Comptroller of the Treasury W. W. Warwick transmitted a ruling to this effect to the war department. If the soldiers home Is a greater distance from the demobilization camp than the place from which he entered , the service, the comptroller ruled, it will be necessary for him to present a claim to the war department for the difference between the amount actually spent by him in reaching his hotne and that paid to him upon his discharge. DRUG STORE GOODS ARE TO ADVANCE IN PRICE Washington.—Products of the drug gist’s shelf will go up In price one cent on each 25 cents of cost May 1 as a result of the imposition on that day of the new war tax. The inter nal revenue bureau today reminded that this levy will be made l)y use of revenue stamps. A l’ v < 1 tax is imposed on proprietary medicine* "as to which the manufac turer or pr ^ncer claims to have any private formulq. LAWRENCE STRIKTPS DENY BOLSHEVIST CONNECTION Boston.—Representatives of the Laurence textile strikers who appear ed before the state board of concilia tion and arbitration which is investi gating the trouble at the request of Governor Coolidge' denied that the strike was a part of a bolshevlst move ment or . was due to any other cause thsJn the desire of the operatives to ea?n t. living wage. Speakers estimat ed that 15.000 workers were still out la Lawrence. M*y Mrs. Johji ]VJ. Copeland is spend ing a few days in Laurens. f i water never turn The mill. It is the same way with the money you have spent. Once your ' ' . ■ , , ■ * * money has passed through your hands it will never be of any additional bene fit to you. Deposit a part of your mon ey. Have a surplus. Spend less and save more. This plan will be the best _ — ■ —...—.— •»— ——- ■ ■■ -* way for you to get ahead in money ac cumulating or property owning. The bank is your best friend. . • • • i \ * • . > , " ~ ' We invite your banking business. Hie National Baiil: ] ! ! CLINTON’S STRONGEST BANK »*