The Union daily times. [volume] (Union, S.C.) 1918-current, June 17, 1922, Image 3
Grain Corner
Days Gone Forever
Chicago, June 17.?L. L. Winters, a
director of the Chicago Board of
Trade, is authority for a striking
comparison of present methods in the
wheat business aa in contract with the
days of "Old Hutch," B. P. Hutchjn*
son, most famous of old-time grain
cperators. Referring to May wheat
dealings here which have attracted
wide attention, Mr. Winters today
said:
"The day of the grain corner is
gone forever as may "be seen from
the socalled 'May deal* just gone into
history. This has been accomplished
by strict rules of the board itself in
the last 10 or 15 years. In the old
days, before traders, for thpir n?n
protection, had adopted stringent rules
to prevent manipulation, the recent
situation would inevitably Have developed
into a corner controlled by somei
leader like 'Old Hutch.'
"/Vlso he might have lost heavily,
let it be remembered. Few corners
made money for the manipulators. A
dozen fortunes we*e-Ja^t where one
was gained. The 'Old Hutch' of today
would have had to pay the full price
of 13,766,000 bushels of wheat which
were delivered on May contracts this
year, a tidy sum, even at the unmanipulated
price of $1.16 a bushel at which
the market closed May 3 let. Had
there been a corner, the- price assuredly
would have been much higher for
the bull manipulator is compelled .to
bid up the market on himsef. In the
Leiter corner the late P. D. Armour
end others delivered the actual grain
by millions of bushels to Mr. Leiter;
Leiter was unable to stand the strain
on his resources, stupendous though
they were, and the corner collapsed.
"In the present instance, no one
was attempting a corner. Last winter
certain speculators thought that
wheat for delivery in May was a bargain,
and they bought independently
in expectation of an advance. By midtfv,,
May they owned everything in the
public warehouses deliverable on trontracts,
and hence what would have
been a 'natural corner'?that is, one
brought about without manipulation?
existed. Sellers had contracted to deliver
more wheat in Chicago, during
May than the elevators would hold.
In the old days these shorts would
L 1 *
nave ueen competed to make a money
settlement with the bulls at prices set
by the bulls. Such squeezes sent
many a firm on the financial rocks a
generation ago.
"Suggestions came from many
sources toward the end of May that
the directors of the board should fix
a settlement price in order to prevent
a squeeze, but this was considered
unsound and futile. A contract is a
contract and its sacredness must be
preserved. The contracts to deliver
certain quantities of wheat during
May were valid instruments of commr
merce.
"What the directors of the board actually^
did was far better. They aimply
declared wheat in cars regular for
delivery on contracts; in other words,
they made each car a public warehouse
until the emergency passed. In
this way every person who had made
a valid sale for future delivery, that
is, in May, was able to deliver the
wheat, and those who bought it received
it as per contract.
All interests, including that of the
farmer and the public, were protected
and the price at which the market
closed on the last day of May was the
fair balance set by conditions of supply
and deipand the world over."
Fund of $4,000,000 Raised
Buffao, June 14.?Without publicity
or public app' al, the raising of a fund
of $4,000,000 to provide for the retire.
ment of veteran Y. M. C. A. executives
throughout North America is
nearing completion, it was announced
here today by A. H. Whitford. local
^ Y. M. C. A. secretary and chairman of
the fund committee.
It had been originally planned to
< lose the 'campaign on January 1st,
3923, but indications are that the fund
will have been fully subscribed within
the next two. weeks.
Secretaries will have the privilege
of retiring at the age of 60, but may
continue if they so elect. Former secretaries
are provided for under the
plan. Canada, Cuba and Brazil have
made contributions to the fund and
assocition secretries there will share
in its benefits.
The Rockefeller Foundation subscribed
$1,000,000 to the retirement
fund, conditioned on the*raising of the
93,000,000 from other sources. New
York State led with contributions of
8231,245; Pennsylvania was second,
and Ohio third. The bulk of the first
$2,000,000 was raised in New York,
Chicago and Cincinnati.
Air Mail Service Between
Cairo and Bagdad
Cairo, Egypt, June 16.?The inauguration
of an "Air Mail Service"
between Cairo and Bagdad and between
the latter city . and Karachi,
giving a through India-Egypt service,
is making Egypt the center of
England's imperial air communications
just as the Suez Canal has been
in the past the center of Britain's
sea ways. *
1* 1 - A 1 1L.1 ? - *
??. ia uuuerniuuu mai nit: next Step
England to Egypt, will soon be taken.
This will give through air service
from England to India*
There is also a rumor that owing
to the widespread dissatisfaction pre*
vailing in Both England and Egypt
with regard to the inferior facilities
now offeffred by the post office, a
service of flying boats between Alexandria
and Brinuisi will be inaugurated,
the* mails being by rail between
Brindisi and Paris and again
by air between Paris and London..
Condition of Crops
h. B. Hare, agricultural statistician
in South Carolina for the Bureau of
Market* and Crop-Estimates, United
States Department of Agriculture, has
prepared estimates which show the
condition of crops reported below on
June 1 as follows:
Crop Conditions, June 1.
Wheat 76 per -cent of normal; oats
8& per cent, rye 86, hay 88, alfalfa 90
cowpjeas 86, cabbages 87, onions 87,
apples v0t>,. peaches 77, pears 66, water,
melons 80, and cantaloupes 78.
Increase in Production of Wheat and
Onto.
The indicated production of wheat
in the State is reported at 1,218,000
bushels, production for the entire
United States being reported at 855,000,000
bushels as against 795,000,000
bushels in 1921.
Total production of oats in the state
is estimated at 9,327,000 bushels, or
1,137,000 bushels more than last year.
The total production in the entire
United States is reported at 1,305,000,000
bushels, against 1,061,000,000
bushels in 1921, the 5-year average
being 1,413,000,060-bushols.
Frail Crop Generally Satisfactory.
Peaches in the western, central and
eastern counties will show a marked
increase in production over last year.
uonuttion or pears and apples fair to
good.
Hay Good.
Weather conditions for the past GO
days have been highly favorable for
c lover and alfalfa,, and excellent yield*
have been reported.
Too Much Rain For Truck Crops.
Condition of watermelons and cantaloupes.fairly.
good, though there has
been too much rain for both. The
same is true of cabbages, onions and
other truck erope. Commercial crop
of cueumbers larger than usual and
prices have been very unsatisfactory.
Blackville is the principal shipping
point.
Farm Work Delayed and Crop Growth
Slow.
Rainfall during the month of May
was far above normal in many sections
and farm work has been very
much delayed, especially In harvesting
wheat and oats for reason farmers
have been unable to get into fields
with reapers and binders. All growing
crops have progressed slowly on
account of excessive moisture, lack of
sunshine and proper cultivation.
Vassar College Entertains
1,000 Working Girls
Poughkeepsie, N. Y., June 15.?
One thousand girls from factories *
and offices in six states today began
a week of campus life as guests of
Vassar, the oldest women's college.
Lantern fetes by the lake, basket
ball games, hoop rolling, and a
"Pageant of Woman's Opportunity"
will give collegiate color to this first
gathering of representative industrial
and academic workers.
The occasion for this meeting of
~i.lo ?J I- ?
vvuiiviii^ gii to aim otuuciiis ia 111c nilnual
convention of the National
League of Girls' Clubs, a federation
of societies whose members number
100,000.Henry
Noble MacCracken, presi- ~
dent of Vassar, in his address of welcome
Bftid:
"The democracy of the curriculm
is the unique achievement of the Am- 4
erkan college. We recognize no ('
royal road to learning. It remains
for us to break with one more barrier
of the academic tradition?the p
barrier that separates those reared j*
in the atmosphere of college from
those in the great industrial heart of S(
America.
"By, jneans of just such organiza- ol
tions as fhe National League of Girls' 1
Clubs it will be possible to suggest .
that college life in America is not exclusive,
but inclusive. It is Vassar's
aim to share with you these
days as a taste of the best that is in
college spirit, and we bid you wel- j
come to our feast. It was an ancient
custom that every guest brought his jr
food with him to The castle of the
nost; so you bring to our college -r
campus the joyous spirit of living ^
well together that you have achieved
in your club organizations.
"That is all there is in college ^
spirit, and we know that you have q
learned its lesson so that it will be
easy for you to extend the same (>J
spirit to the groups from all these p
cities here today. Our students and w
officers who will live with you here ^
this week will, I know, learn much
from you. Out of such contacts we
shall build better colleges!"
utris irom Massacnusetts, nnoue p
Island, Connecticut, Ohio, Pennsyl- Ql
vania and New York are attending w
the convention. a
Egypt Aroused Over
Reported British Intentions Rl
S
Cairo, Egypt, June 16.?He who d
holds the Sudan controls Egypt; ei
hence all of Egypt is vitally interest- fi
ed today in the reports from Lon- 01
don that Great Britain is considering
the establishment of a protectorate
in this territority. "Egypt with- e'
out the Sudan is a tomb for its peo- t><
pie," says one newspaper, and ex t<
plains that control of the Sudan is
absolutely necessary to the economic *
development and life of Egypt. Without
the Sudan Egypt's independence,
recently granted by Great Britain,
would be a farce. n
The London rumors carry the de- A
tail that Great Britain contemplates tl
the declaration of a Sultanate separ- it
ate from Egypt under one of the n
sons of the Mahdi as its ruler, the r<
whole under British protection with tl
m yovom ui Kuvcrnmeiu similar vo a 1 hi
britiah dominion.
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The Egyptian people will resist,
ewspnpers declare, even to the ex>nt
of force. They are voicing their
stermination to regard Egypt and
le Sudan as one and inseparable,
^ith Great Britain in the Sudan, the
roducts of the country will be exorted
by way of Berber and Suaim,
and with her hands on the
>urces of the Nile river Great Britin
could render the lower reaches
f the river, so vital to Egypt, ferle
or infertile at will.
loney to be Gained^
By Not Working
London, June 16.?A man can deve
a larger income in Poplar by ac pting
relief than he can by worklg,
so generous are the contribuons
of the Popular Guardians. Full
jformation as to the methods of the
luardiuns in relieving poverty in
leir borough discloses greater ex avagance
than had been suspected,
n East End firm wrote to the
uardians: "Our employees who live
i Poplar have pointed out that they
an get more money by being unemloyed
than by working for us. As
e have no wish to prevent them getng
as much as possible, we propose
> dismiss them so that they can take
[ivantage of your relief."
That the firm did not exaggerate
revailing conditions is shown by
ther testimony. A man and wife
ere granted two pounds ten shillings
week to relieve their poverty when
ie earnings of four single daughters
rought the family income up to
?ven pounds five shillings a week,
o generous were the Guardians in
isbursing the money of the taxpay
rs thnt they granted one deputation
rom the unemployed a higher scale
f relief than had been asked for.
In their own defense the Guardians
mply state, in effect, that they were
lected to help the poor people of the
orough, and they have no excuftea
> offffer for doing it.
^ants Recognition
By America
Tirana, Albania, June 16.?"Reco?/ize
us," said Bey Ahmet Zogu,
lbania's Minister of the Interior to
he Associated Press correspondent
? a recent interview. "If America
(cognizes us, and sends a diplomatic
?presentative to Albania, it will be
le biggest boost Albania can have,"
e declared.
"We are an ancient and proud race,
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CRUSH BOTTLING
Lime Crush and Cherry
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DRY GOODS COM!
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EEN DOORS AND ICE BOX1
North Pinckney Street
-VINCENT SHOTC
UOES AND HOSIERY
Your Feet be Your Judge
ER'S BARBER SH(
DOOR TO UNION HOTEL
CASH GROCERY
door to Union Times Office
A. HOLLINGSWORTH, MGR.
LES DRUG STORI
Agents For
CANDIES?EASTMAN KOI
BARNETT GROCEF
r STREET PI
ANDY AND FRUIT
3ME MADE CANDIES
RSON MOTOR CO.
FORD DEALER
ell cars on terms to suit you
We have traditions antedating the
Christian era. We have suffered under
the tyrant's heel. We have been
oppressed by both Asiatic and European
peoples. We have dreamed for
centuries a dream of freedom. We
are the most homogeneous race in
the Balkans and iong for the chance
to determine our destiny by ourselves.
America, whose pages of
history gleam with glorious deeds in
the cause of human liberty, should
recognize Albania, for it is a country
which has suffered long centuries
of serfdom and r.ow, born again as a
nation, wants to retain the liberty so
long withheld."
Bey Ahmet Zngu 'comes of noble
fighting stock. Tribal traditions and
feuds in Albania have bred in him a
hereditary warrior's spirit. Today,
he is the one hero of Albania, and he
stands out in bold relief as the young
nation is trying to foster its national
existence. He is a young man?not
more than 28 years of age, and is regarded
as the real ruler of Albania.
Slight of statue, tall, blond, with blue
piercing eyes, he has one passion and
that is to put Albania on its feet and
set her house in order. Intrigues
creep into the political life of the
young and struggling state, but Zogu
has always been able to nip them in
the bud and maintain respect for
constituted authority.
"Albania is rid of internal quarrels,"
he said to the correspondent.
"We have a little army of*9,000 men.
These are to be used to keep order.
When other nations say that Albania
is attacking them, it is absurd, for
Albania has neither the means nor
the forces to attack anybody. We
have a population estimated at over
1,000,000 and all Albanians. There
is not one foreign tribe or?seet or
group within our borders. On this
alone, we have a right to our nationhood."
Detractor of France
Taken Prisoner
Geneva, June 16.?A wealthy
Frenchman, F. Bfertrand, described
as a deserter, hafc been arrested here
at a moment when he had practically
one foot on either side of the Swiss
and French frontier line, in a cafe
that straddles the border. The cafe
is in the village of Saint Julien on the
international boundary. Part of the
building is in Switzerland and part
in France.
Early in the war Bertrand settled j
in Geneva where^ his accusers aver,
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A^A A^A A^A J
he made a large fortune trading with
Germany. He bought a villa and
several automobiles and led a life of
pleasure. He said he was more German
than French, and took pleasure
in speaking against France, particularly
in the cafe at Saint Julion
where, safe on Swiss territory in one
of the drinking rooms, he could be
overheard and even seen lw the
French police in the rooms on the
French side. There the French listened
to his annoying talk hut, unable
to catch him on the French side, they
could not arrest h>m. Bertram!
boasted that?when there were no
police about?he could enter France
and return without a passport.
Bertram! after dining well, crossed
the border by going from the room
on the Swiss side to that on the
French side to greet some friends.
At the instant he passed the line
into France he was pounced upon by
two French gendarmes. He put up
a fight, but was quickly subdued,
handcuffed, and carried away.
^ ?
New Silver Money
Put in Circulation
Petrograd, .June It;.?New silver
money which in time the Soviet government
hopes to put in circulation
to replace, partly at least, the paper
ruble of today is being coined in the
Petrograd mint, the only existing
plant of its kind in Russia.
The mint began operating several
months ago; up to the.present time
it has manufactured 5,000,000 rubles
in silver of denominations of 10, 15,
20, 50 copecks and 1 ruble pieces
The coins contain 90 percent silver
and ten percent copper, and in general
appearance are much the same
as those in use before the war. Close
inspection, however, shows that the
Soviet coat of arms has replaced the
old Imperial eagle. Another striking
feature is the Bolshevik motto "Prolfti
ntnaf a f i Un i*l * 1 '' a** <
VVM1 IUV Vi IUV MVUVI, Ullllt, Mil I IK"
reverse side.
The new coins are sent to Moscow
where they are held as part of the
government reserve. When a suf
fieiont quantity has been assemblec'
the government contemplates using
them as a form of guarantee for paper
money to be issued in the future
Ultimately it is hopeu to put their,
generally in circulation, and thus obviate
the present necessity of calculating
in billions and millions f o
i the needs of every day life.
"Cross Crossings Cautiously."
:KEr
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I. FROM
UILTY OF SELLING GOOD M
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SHOE REPAIRS OF ALL
DSHALL MARKET (
WHOLESALE AND RET,
iausnge, Pork, Fish, Fruit and
UNION BAKER
"HOME MADE" BRE/
Fresh Daily?Cakes, Pies arc
THE DIXIE CAI
FOR LADIES AND GEN
EXPRESSING & RE!
WE CALL AND DELIV1
F s fiinn cmm
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flITH VULCANIZING
ITH, MRG.
R. J. FOWLER ffii
MONARCH MILL
We only have fancy grocei
ROYAL CAFE
FOR LADIES AND GEIV
i campaign we are going to give .
Cabinet. For particulars call
CRESCENT FILLING SI
PHONE 345
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SOUTHERN RAJ]
ANNOU.
I
LOW ROUND TRIP FAR
CONFEDERATE VETERANS
VA., JUNE :
LKAV " St'I IK I
No. 20
Greenville, S. C., 6:25 A. M
Greer, S. C 6:50 A. M. <
Spartanburg:, S. C. 7:25 A. M
Gaffney, S. G. 8:10 A. M.
Hlacksburj;, S. C\ 8:20 A. M '
Ar Charlotte, N. C. 10:05 A. M. 1
Ar Richmond, Yn , l'.Ub 0:25 1' M
Proportionately low round trip fai
be sold in addition to the. abo\e traw^
with final limit to reach original star, n
The above fares are for mcir.hei - ,
Association and members of their fan I
For affiliated organization . v .
(Confederate Southern vlenioiio> \ .. n
federacy, including Sponsors, Mat; on
fare will be the lowest one way fare lot
Those desirimr to make this trip l
from the Camp Commanders of the lT.
i'leket Agent before securing ticket.
Through (lay coach will ( opcraici
train 20, .1 un.e lbth. through day co u h
to Richmond, Va., on train 12K .lime I'm
For Pullman Reservations and n
Railway Agrent or address:
R. C. COTNKR,
District Passenger Agent,
Spartanburg:, S. C.
Thousands of Law
Breakers Given Time '
Berlin, June 10.?Thousands of l:iw '
breakers have been given "time" at ' (
Berlin's central criminal court in!
! \
Moabit, hut recently an ingenious
crook posing as a repair man actually
was given the court's official
clock, and during the conduct of a ,
trial.
The sitting was well under way
when a man in working clothes entered
the courtroom with a long lad- f
der which he calmly placed under the (
huge, imposing timepiece on the
wall. The judge, counsel, accused
and spectators were astonished at i
such ah unprecedented interruption. f
The president stopped the workman's ,
scent of his ladder long enough to (
ni|uirc the meaning of his conduct."
The visitor explnhie I that he merely
wanted to get the clock for repair <
and that it would take only a mo- s
ment. The president objected, but (
c< nsentod when the man said he al- I
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20-22, 1S22
IJ1,E DATE KETUKN
No. 13S EAR I
P. M. .him ll'th $"
his p. M. .! .it. D.Mh
lij'. M .lune ll'th V D'<
7:L!7 P. M. .Juim* iSMl.
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.1:05 I*. M .luiit* i. !
7:10 A. M. .Juno .1" i
from ail ?>t pel j .i 1 * - . i
on dune 17. I* ! .? on >
jr point Ly niiuniciit
i>t ihi United Go: V ; ' i
i? s ac< ompany ine ' i
Sons of < !> ilt i t
ition, Uniti 1 ?;ui. .
and Maids of H n< i < r.
the roun i trip
nlist secure idcnt ill .?: e n
G. V'., which must l>e |
1 Greenville, S. C. t >o' \ .
t and Pullman Gars o t . <I , S '
h, P.)111?.
formation call !? mares. itheir.
L. It. I'ARTI o\\ .
Ticket Agi nt
Union, . G.
t-ady had t ailed six times ami always
o?ind the court in session.
The vacant spare on the w.i! ui
iriised the janitor later in the day
mil his investigations n ve; !e<i that
lie court hail bee robbed i:nder its
cry eyes, in fact, with its t ri niission
Sorosis, the first woman's eltih in
he United States, was founded tn
Mew York in 1808.
Two of the greatest literary produr
ions of the Chinese are a dictionary
if 5020 volutins ami :n encyclopedia
>f 22,937 volumes.
The Reconstruction Hospital in New
i*ork city is the first hospital intended
ipecifically for industrial workkers
vho have been injured in the course
>f their employment.
By means of a new eleetrioal mahine,
claims an American medical
icientist. the disease, sex and race
>f a patient can be told by a drop of
lis or her blood.
,'U