The Clinton chronicle. (Clinton, S.C.) 1901-current, December 31, 1925, Image 1
VOLUME XXV
mm
CLINTON, S. C., THURSDAY, DECEMBER 31,1925.
SEE BUSINESS BOOM RUNNING
WELL INTO THE NEW YEAR
Heads of Industries in General Forecast Predict
Continuance of Prosperity for Nineteen
Hundred Twenty-six.
\
N<yw York, Dec. 27.—Present busi
ness prosperity will continue well in
to 1926, in the opinion of leading
bankers and industrial leader^.
Foreeasts for the new year pre
pared by thefe executives regard
fundamental business conditions as
sound,* lay stress on the administra
tion's business policies and are hope
ful regarding the European putlook.
“The business of the manufactur
ers of the iron and steel industry of
the United States during the whole
jifar may be considered good, so far as
the ; volume is concerned, said Chair
man E. H. Gary, of the United States
Steel Corporation. “For a large por :
tion of the year the selling prices
were lower than they ought to have
been, and many manufacturers opera
ted without much profit.
“The wise and conservative state
ments of the President from time
to time have been an important factor
of encouragement to the general busi
ness fraternity. «
“The apparent change in attitude
of many of the national legislators,
particularly with reference to econ
omy in administration, and more
especially taxation, and the decisions
of the Supreme Court concerning
business, showing 'a disposition to
assist legitimate business progress,
have created a feeling of confidence
on the part of investors.
“At present the demand for iron
and steel products is large and grow
ing in strength. Selling prices are
improving somewhat and there is
reason to expect they soon will yield
to most manufacturers considerable
profit. The prospects of this indus
try for the year 1926 now seem to be
very good. Unless some unforeseen
circumstances arise to prevent, the
general business situation in the
United States during the coming year
should be satisfactory."
“The petroleum industry has been
in a very unsatisfactory condition for
more than four years," said Henry L.
Doherty, one of the largest inde
pendant producers in the country.
‘Prices have frequently been highly
demoralized and none of the former
recoveries of prices havp carried any
assurance to any thoughtful man that
they were certain to be permaanent."
“The outlook at present is more
assuring than at any previous time
in this period. Our principal trou
bles have come from the over-pro
duction of domestic crude. Production
of crude has remained practially sta
tionary for three years. Production
in 1924 showed a slight reduction as
against 1923, and 1925 will show only
a slight increase over 1923.
“During this period our markets
rim higher priced products, prtnei-
pNUy gasoline, haave grown immen
sely and probably beyond everybody’s
expectations. Gasoline consump
tion is now growing much faster than
the growth in registered automobiles
due principally to the growing per
centage of busses and trucks. The
adoption of oil for house heating is
now literally sweeping the country.
No accurate figures are yet available
on the consumption of oil for house
heating, but this new market possibly
has been increasing more rapidly on
a percentage basis than our consump-
tion of gasoline for automobiles has
dene.
“The petroleum , industry by nature
and by government activities is pro
bably more .competitive than any ot
her industry. When we get ready to
develop our markets by cooperative
effort we will find no problems we
cannot master, and the business will
prove safe, stable and profitable. We
may may again have slumps until we
get things on a cooperative basis,
hut our slumps should be temporary
and when we get on a thoroughly co
operative basis slumps will be
thing of the past."
“There are many reasons to be
lieve that the next year will see a
continuance of the steady trowth wd i^ copper * bro » d “ v “>'
development of the electric induetry,” »■?? «“* ** ‘O”” *■ wo 'V
jnand upon the central stations. Dur
ing 1925 the United States generated
12 per cent mors electricity than dur
ing 1924.
“Most important of all, the public
has become convinced of the stability
of electric securities under the pre
sent State regulation, and this public
confidence has been reflected in the
ability of'the industry to secure the
capital needed for proper development
of the country’s power facilities.
“In view of all these facts, there
is no legitimate reason whyHthe pro
gress of the country’s electrical de
velopment should not continue during
the coming year.
“While the electric company is less
susceptible than almost any other en
terprise to sudden changes in the gen
eral economic situation, there is, of
course, a relationship between its own
prosperity and the prosperity of the
nation. With the factories of the
country going at full blast, there is
more need for power than during
periods of depression.
“In view of the optimistic tenure
of recent expressions from the White
House and the Department of Com
merce, it is reasonable to assume that
the whole tone of the nation’s busi
ness will be good during 1926. This
fact supplies an additional basis for
my belief tbit the new year will be
| a prosperous one for the electric in
dustry."
“There is ample reason to expect
that the first half of 1926 will be a
period of general prosperity, in which
the automobile business should share,
asserted Alfred P. Sloan, Jr., presi
dent of the General Motors Corpora
tion. “The latter part of 1926 is still
too far away for one to judge with
much assurance what it may hold in
store.
“The momentum of business re
covery since last summer will tend to
keep business active during^ at least,
the first part of 1926> Conditions are
in a healthy balance at present. Em
ployment is large, prices are relative
ly stable, transportation facilities are
ample and efficiently operated.
“Production and inventories gen
erally are well controlled, and credit
conditions sound. In the light of such
a present situation the expectation
of active spring and early summer
business seems to be justified.
“Automobile buying during the last
few months has been particularly
good, partly as a result of the greater
values offered by the new models and
lower closed car prices; partly as a
result of better agricultural purchas
ing power and partly as a result of
general increased prosperity.
“I expect the summer demand- for
automobiles to continue large while
general business remains active. The
volume of retail automobile sales for
the first half of 1926 is expected to
exceed that of the first half of 1925
by a fair margin.”
R. L. Agassiz, president of the
Calumet and Hecla Consolidated Cop
per company and the Copper and
Brass Research association said:
“If copper shipments in December
prove anywhere near the average
maintained, during the first eleven
month&aof the year, 1925, will have
shown new high levels in copper con
sumption, both here and abroad. Un
fortunately actual figures for Decem
ber will not be available until well in
to January, but we know enough to
predict with reasonable certainly
that shipments of American copper
during the year will be upward of
2,800,000,000 lbs., which is 200,000,000
pounds more than in 1924, the best
year since the war.
“This has been accomplished in the
face of a foreign demand which has
been steadily falling off since July
because of disturbed economic con
ditions throughout Europe. Europe
is unquestionably the weak spot in the
situatiomat the moment, but we know
CHRISTMAS STORY
IS SWEETLY SUNG
declared Simey Z. Mitchell, president
ing capital is more available, parti-
.5**1
of the Electric Bond and Share Co.i cu ^ rl y in 11 Gerraany ' the for€iffn * it -
“The year just ended has established
new recopda in the amount of electri
city generstad and used in the United
count of capital in-
diversity of the uses
tc power may be put.
rnsiop of the country's gen-
plants has kept pace with
increase in the demand fdr electri-
«Hy* so that, while consumption has
1*«t increasing, the facilities for
kUTtilur this increase have been pro-
“ Indus try is coming mere and more
to depswd upon central stations for
power, thousands of new residences
‘ Rve bean wired , for electricity and
advent of the ^ftetric refrigerator
nation will improve.
America is, of course, the back
bone of the American copper indus
try and some idea of the increased
popularity of copper and copper al
loys At home may be gained from
the fact that in November, despite
the falling off in European demand
shipments exceeded production by
nearly 10,000,000 pounds. It is also
well worth noting .that at the end
of November stock* of refined copper
available totalled 136,000,000 pounds,
although * consumption during that
month was 237,060,000 pounds. This
/supply means that guaged by aver
age monthly consumption during the
first eleven months of 1925 we enter-
tike last month of the year with
(Cestinnad os Page Few)
Choir of Training School Pleases
Large Audience With First
Public Rendition.
A special Christmas musical pro
gram, presented by the choir of the
State Training School, attracted a
large audience last Sunday afternoon
in the Thornwell Memorial church. It
was the first public appearance of the
choir in the city, and in a beautiful
and impressive manner the Christmas
Story was told in music, the program
consisting of solos, choruses, and res
ponsive Scripture reading and prayer.
Dr. Dudley Jones ,chaplain of the in
stitution, presided as the devotional
leader, and added to the program with
a few appropriate words explaining
the nature of the religious work con
ducted at the school, and extending
to the large audience a most cordial
and hearty welcome. The program,
a highly creditable one, afforded all
present an enjoyable afternoon’s wor
ship and brought forth the highest
commendation and praise.
Again on Tuesday night, a large
number of the school’s younger pupils
appeared in their annual Christinas
play entitled, “A Christmas Dream."
The entertainment was presented in
the community hall at the school, and
in addition to its large family was at
tended by a number of friends from
the city and stirrounding community,
all of whom were pleased with the en
tertainment.
The Christmas play, proper was fol
lowed by postlogue dancing and pan-
tominea. The costumes were lovely
and the girls appearing on the pro
gram showed excellent training and
did their parts in a highly creditable
manner. Miss Hallett directed the en
tertainment and Mrs. J. F. Jacobs, Jr.,
presided at the piano.
LOCAL CONCERNS
PAY DIVIDENDS
Semi-Annual Checks Go Ont Today
To Stockholders of Local' Banks,
Mills and Corporations.
Tomorrow is dividend day—a glad
day for the stockholders of Clinton
banks, mills and other corporations
paying their usual January first div
idends. All of the corporations have
just closed a satisfactory business
for the year and are looking forward
to a prosperous New Year. The fol
lowing is a record of the dividends
that are being paid, aggregating $43,-
000.
The First National Bank, 4 per
cent semi-annual on a capital stock
of $100,000—$4,000.
The Commercial Bank, 4 per cent
' semi-annual on a capital stock of
$50,000—$2,000.
M. S. Bailey & Son, Bankers, is a
private institution and does not pay
a dividend, but reports an entirely
satisfactory year’s business.
Lydia Cotton Mills, 3 1-2 per cent
semi-annual on $500,000 serial notes
—$17,500.
The Clinton Cotton Mills, 4 per cent
semi-annual on capital stock of $350,-
000—$14,000.
The Peoples Bonded Warehouse, 10
per cent annual on capital of $20,-
000—$2,000.
The Clinton Bonded Warehouse, 10
per cent annual qn capital stock of
$10,000—$1,000. This dividend was
paid in June.
Young Bros. Live Stock Company,
10 per cent annual on capital of $25,-
000—12,500. x
5 ESCAPE FROM
LAURENS JAIL
Orphanage Grounds
Being Beautified
A Florida friend, recently visiting
the Thornwell Orphanage, gave the
institution one thousand dollars to be
expended in beautifying tbe campus,
particularly the front entrance of the
grounds. Mr. Briggs, landscape gar
dener of the Parker Mills and School
of Greenville has been Engaged to do
the work and is now in the city com
pleting the lay-out for flowers, shrub
bery, new drive ways, etc., that will
add considerably to the attractiveness
of the institution’s campus within the
next-few months.
WILSON STAMPS
EXPECTED SOON
Change In Owners
Of Filling Station
It was announced yesterday that the
partnership of Geo. W. Copeland and
J. V..Edwards, operating the Clinton
Filling Station, has been dissolved,
Mr. Copeland purchasing the interest
of Mr. Edwards in the firm and be
coming the sole owner. The business
wlil continue to be operated at the
same location with Messrs.* B. W.
Blakely and D. W. Copeland actively
in charge. This is one of the well
known and popular “gas stations" of
the city, and Mr. Copeland states that
a complete line of accessories yill be
added and the business operated ow a
larger scale than heretofore.
SCHOOLS TO REOPEN
ON NEXT
MONDAY
The city and orphanage schools will
reopen next Monday morning after a
I two weeks’ vacation period for the
j Christmas holidays..
New 17-Cent Stamps To Honor War
President of the United States
On Sale In Few Cities.
The Woodrow .Wilson memorial
stamps, the first of which were issued
on December 28, are not expected to
arrive at the local postoffice until
some time in January,.according to
information obtained today. The first
of the stamps were placed on sale in
Princeton, N. J., Staunton, Va., and
« few other cities in the United States,
some time being required before the
stamps reach the majority of .post-
offices in the nation.
“The stamp is the same shape and
size, a horizontal rectangle, as the
26-cent sj^mp of the current series
and'is printed in bank note black ink.
The central design is a portrait of
Woodrow Wilson within a semi-circle
Use Improvised Key of Hardwood to
Unlock Corridor Door Leading
To Freedom.
Laurens, Dec. 29.—By the use of an
improvised key that unlocked the door
of the corridor, five white prisoners
made their estape from the county
jail, presumably about 5 o’clock this
morning. Efforts are being made to
recapture the men and Sheriff Owens
thinks they will be located and return
ed in a day or two.
Two of the missing prisoners are
Bill and William Welch, father an<f
son, of Buffalo, Union county, await
ing trial on prohibition violation
charges. Oliver McMahan of Clinton,
and Collier Alverson, formerly of
-Honea Path, charged With house
breaking and larceny, and Walter Bar
ton of Fountain Inn, charged with
passing a bogus check, are the other
three.
Other prisoners who shared corri
dor privileges with those who walked
out today, declined to go out and
some of these gave the alarm after
the men had left the jail.
The prisoner who contrived the
hardwood key has been spotted, it is
understood, but, strange to relate, he
did not join in the self-effected de
livery.
BELOVED WOMAN
HAS PASSED AWAY
and is partly enclosed in a panel
which is supported on either side by
acanthus scrolls. Within this panel,
and above the portrait, appear the
words ‘United States postage’ in
white Roman letters. On a ribbon be
low the portrait is the name ‘Wilson’
and under this, at the bottom of the
stamp, appears the word ‘Cents.’ In
both lower corners, within circles with
merals ‘17.’ Triangular white line
ornaments appear in both upper cor
ners and the entire stamp is enclosed
within a single white-line border.
MR. BAILEY QUITE ILL *
Mr. M. S. Bailey, one of the city’s
oldest and most beloved citizens, has
been quite ill. the past week and con
siderable anxiety is felt over his con
dition. Latest news from his bed
side yesterday stated his condition aa
practically the same, with little signs'
of hnprovement. His many friends
will regret to learn of his illness, and
all unite in wishing for him a recovx
ery to his accustomed health.
Mother of Rev. J. B. Branch of Wil-
lington. Dies At Home of Her
Son in Atlanta.
Mrs. H. E. Branch, mother of Rev.
J. B. Branch, superintendent of the
De la Howe State School of Willing-
ton, died in Atlanta on December 13
at the home of another son, Mr.
Harlee Branch, of the editorial staff
of the Atlanta Journal. Mrs. Branch
had been ill about two months fol
lowing a stroke of paralysis. Funeraf
services were conducted in the Druid
Hills Presbyterian church, Atlanta,
and the body was taken to Polkton
County, N. C., for interment in the
family burial ground.
Mrs. Branch was well known >md
loved by many Clinton friends. For
a number of years she was a matron
at the Thornwell Orphanage, and was
always a devoted friend and worker
for the institution. The later years
of her life she spent with her sons,
making Jier home most of the time
at Willington with the Rev. J. B.
Branch. The news of her death will
bring genuine regret to all wliQ knew
and loved her in this community.
B. & L. SERIES TO
MATURE SOON
Series “A" of Liberty Association To
Be Paid to Stockholders in
January.
Series “A" of the Liberty Building
dark backgrounds, are the white nu-4& Loan association, headed by H. D
NUMBER 52
HONOR PAID TO
WAR PRESIDENT
Services Are Held in 500
Cities on 49th Birth
day of Wilson.
New York, Dec. 28.—Five hundred
cities of the United Status paid hom
age today to the memory of Wood-
row Wilson on the sixty-ninth anni
versary of his birth.
At the Woodrow Wilson Founda
tion dinner at the Hotel Astor to
night, the lute war preaident was
eulogied for his statesmanship, his
principles end ideals. Dr. Harry A.
Garfield, president, of WHttams Col
lege, said Mr. Wilson’s clear vision
and indomitable purpose gave to the
world living principles for thq. settle
ment of disputes among the nations
which at the close of the first quarter
of the new century are hearing fruit
abundantly.
Dr. Garfield listed as the “fruits of
his efforts” the conference for inter
national control of trade in arms, the
commissions and conferences on wel
fare of women and children and on
public health, the treaties negotiated
at Locarno and what he termed the
favorable attitude of the United
States toward world court adherence,
and the proposed conference on the
limitations of armaments.
Woodrow Wilson laid the founda
tion, said Norman H. Davis, president
of the Woodrow Wilson Foundation,
for a “new and better order in world
affairs." His influence in “recon-
constructing a shattered world and
establishing peace" has Been exempli
fied by such achievements as the res
toration of Austria and Hungary, set
tlement of the German reparations
under the Dawes plan and the pre
vention of war between Greece and
Bulgaria.
. Mr. Davis said this accomplishment,
together with the Locarno treaties
has been made possible for the League
of Nations as founded by Woodrow
Wilson.
Praise From Caraway
Reading Pa., Dec. 28.—Asserting
that Woodrow Wilson represented
idealistic America and Calvin Cool-
id ge represents practical America,
Senator Thaddeus H. Caraway, Demo
crat,* Arkansas, paid a high tribute
to the war president during memorial
services here noon today. Three hun
dred war workers, Liberty bond cam
paigners, members of the Red Cross,
Belgian relief and kindred organiza
tions gathered in Rajah Temple to
commemorate Woodrow Wilson’s birth
anniversary.
Senator Caraway said it was his be
lief that the two most popular presi
dents of recent years were Coolidge
and Wilson. Coolidge, he said, may
become so popular with Americans
that Democrats will find it difficult
to'place a Democrat in the president
ial chair in 1928.
Tablet is Unveiled
Columbia, Dec. 28.—Impressive ex
ercises marked the unveiling of a
boulder erected at the boyhood home
of Woodrow Wilson here today. The
services were held under the auspices
of the South Carolina department of
the American Legion Auxiliamr and
was participated in by a number of
prominent speakers and American
Legion officials from various parts of
the state.
The exercises.were presided over by
Mrs. J. Lyles Glenn of Chester, state
president of the auxiliary. The speak
ers included John G. Gailbraith of
Spartanburg, state commander of the
legion; Col. J. Monroe Johnson of
Marion, national committeeman; Mor
ris C. Lumpkin of Columbia, past
state commander, and Mrs. Glenn,
who brought a message from the
state department of the auxiliary.
The, other speakers made addresses on
Woodrow Wilson and his life and
work.
As the Star Spangled Banner was
played the boulder bearing a hand
some bronze tablet was unveiled.
Exercises at Staaataa
Staunton, Va., Dec. 28.—As friends
and admirers of Woodrow Wilaoa
throughout the country paused today
to honor the memory of America’s
war-time president on the occasion of
the sixty-ninth anniversarf of his
birth, Staunton did not forget her
greatest son. As a wreath was being
placed at the direction of Herbert Mc
Henry as secretary-treasurer, will ma
ture ' on January 10th, it ' bras an
nounced yesterday. The l>eriod of
time required for its maturity was
78 months and the officers and di
rectors feel highly gratified over the
fine showing that has been made.
Several series have been matured
by the Liberty during the past few
years, and it is stated that a new
series will open in the next few weeks.
BANKS TO CLOSE
The banka of the city will observe
Friday, New Year’* Day, aa a holiday
and will pot open for business until
Saturday morning*
on the
Chapel of
*t St. Peter
citizens
an who
/
Kelder, mayor of St
Wilson tomb in BethU
the National Cathedi
and St. Paul at Was!
of the birthplace of
fought in World War
assembled to hear a mei
delivered by former Mayor Hon. Wil
liam H. Landes. _
The speaker characterinal Pfoaedent
Wilson as a “man who feoght a good
fight" and who “died fighting for <
principles." The Rev. Dn A. M.
tier, preaident of Mary
lege and chairman of the
committee of'the Woedeew
birthday piece memorial, abe
yr
t;
/