Historical Newspapers of South Carolina

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I htwmat Why Ike Gffdrueil Presecites Oee aid Lei Ike Otker Gt Free. ? GIVCS A POOR EXCUSE Why the Man Who Tries to KhInc the Price of Cotton Breaks the Law, While the Man Who Tries to Lower the Price Does Not Break th( Law. The follo v 5 correspondence explains itself: Abbeville, S. C., Oct. 31, 1911. Hon. Geo. W. Wickershani, Attorney General, Washington, J). C. Dear Sir: I note that the case against the Wall street "bulls" charging them with cornering cotton is still n tb? courts and assume that you will push th? prosecution to a conclusion. While I do not concur in the opinion that it was the proper function of th? government to interfere with the enhanced value of a commodity that Mieant so much for the wealth of thi? country, I assume that you can justify the prosecution legally. If then the government had a legal right to proceed against a combinaion of speculators whose purpose was to force it has the same legal right to proceed against a combination whose purpose is to force down the price of the same commodity. Of the American cotton crop, approximately one-lialf is sold in foreign markets. A decline of two cents per pound means the loss to this country of $G0,000,000 and to the Southern farmer of $120,000,000. It is certain that "bear" pressure on Wall street lias forced a decline of fully three cents per pound in the present market, thereby robbing the South of approximately $105,000,000, and giving it to foreign spinners. This decline has been brought about by the bear element overselling the market, publishing false or misleading statements, and combining to keep buyers out of the market. With no extensive knowledge of exchange methods, I think it is safe to say that if a combination may advance the market, a combination may likewise depress it, and the fact is, it is ' now being done. Then should not 'the government interpose? If it was right in the former instance it is right in this; and when the wealth of the nation is threatened and the competency of Southern homes is being absorbed by the foreigners, should not the government at least place the weight of its influence and power with its own citizens? An investigation of "bear" tactics would probably reveal ample ground for criminal action against the leaders and prpsecutioa would probably dissolve the unfair combination and allow cotton to resume its normal price. At any rate it seems incumbent on the government, in the premises, to throw the weight of its power with the people. This letter is not written in any carping spirit, but in the hope that you may see the other side of the question, as the cotton producer sees it, and use the arm of the law, as far as Dossible for their relief. 1 would rather to have an expression of opinion from you, as to whether such a prosecution would, in your judgment, bo entertained by the courts, and if it would, what likelihood there is, if any, of the department of justice taking such a step. Living in this section where cotton is the prevailing crop, it is a great disappointment to me that the producer should bo robbed of his legitimate profit 011 that crop. If the government can extend any aid, it could never come more timely. Respectfully, Wyatt Aiken, M. C. Mr. Wiekcrshani's Reply, Ofilce of Attorney General, Washington, D. C., Nov. fi, 1911. Hon. Wyatt Aiken, M. M., Abbeville, South Carolina. My Dear Sir: I have your favor of 31st ultimo. I quite agree with you on the general proposition that, it cornering a product which is dealt in interstate commerce, for the purpose of increasing its price, is illegal, similar cornering for the purpose of depressing its price is likewise illegal. The formation of a corner for the increasing of the price is easily undern ^ A ?uiYnl\Ar aP m on cy/"\f 1 nirnl h _ DIUUU* A lAUHi L/C1 v/1 III* II iv/ftOliier and, by thoir combined means or credit, buy up enough of the commodity to controll the market, withhold it from sale until the demand for it forces the price to the point at which they are willing to let it go, and thereby impose upon the manufacturer, who must use the product, the burden of an artificial price. It is not so clear by wnat process a "bear pool" is organized or conducted, and I have no evidence in this department of a tangible character which enables me to form the opinion that any designated individuals have combined to depress the price of cotton below its normal figure. Moreover, it is not quite clear in my mind how such a "bear pool" can operate to restrain interstate commerce. I suppose the method by which such a combination would operate would be to throw upon the market at a given I- \ ' ' t' ' time a quantity of a commodity in excess of the demand which would result in its being taken only at prices which the purchasers thought would enable them to sell at a profit. I don't at all know what the practice is among the cotton growers in your State, for instance, respecting the sale of their product. When I last had occasion to examine the question, which was a few years ago, the crop was pretty genoraMy sold to the cotton factors before it was pick i ? J Kficwwl f hn 0(1, LI16 pi'IUW UVllifj uaa^Ki uj'uu ui<u prevailing price of the previous year, and increased or decreased according to the ratio between the crop produced in the country the proceeding year, and tlie estimated crop of the current year. Generally speaking, I take it that the "bulls" and "bears" are the brokers who, on the cotton exchange, at a given time, are seeking to increase and depress prices respectively. The "bears" are trying to beat down the prices in order to buy at a lower figure and the "bulls" are trying to run prices up in order to sell at a higher figure. The interests of the spinners wouJd be, generally, with the "bears," and the interests of the factors, or cotton dealers, would bo with the "bulls." A "bear" movement would be initiated If, for example, concerns dealing in cotton had borrowed very largely on a close margin and, for some reason or other, were compelled to sell for the purpose of meeting other loans, and a movement, once begun, toward the lowering of prices, would be apt to gain headway because other people, having cotton on margin, would be fearful of greater loss if they waited until the price went lower, and so would rush into the market determined to get rid of their product at a given time. How a "bear pool" would operate, I confess 1 do not quite understand, nor do I know of the existence of any such pool. By pool I mean a group of men who, for the purpose of controlling the price of a commodity, in their own interest, buy a sufficiently , largo amount of the property to enable them to control the price in the market. I write, giving you just my impressions of the subject, because you may have fuller knowledge than I, and I should be very glad to have you give me any detailed information available to you, going to show the existence and operation of any combination formed for the purpose of depressing the price of cotton. In the proceeding against those engaged in the so-called "bull cotton pool" which the government brought a year or so ago, the United States circuit court in New York held that "corners" were illegal and immoral, but that a combination formed to corner and enhance the price of cotton did not operate in restraint of in terstato commerce even inuugn, us was alleged in the indictment, the necessary effect, as well as the intended purpose, of the combination was to increase the price which the spinners had to pay ,and, as a matter of fact, by so increasing the priie a large percentage of the spinners had refrained from manufacture and had thereby been restrained in commerce among the several States. An appeal from the judgment of the court, sustaining a demurrer to the essential counts of the indictment, has been argued in the supreme court of the United States and is now under consideration. If the court shall decide the essential question involved and not let the case go off on a technical mat^ f nlfto/linir niav h n vp finnio LL. 1 VI J/I Vtt U 1 il , ?? V/ *??wj > %* ? v ? v? ??? v/ light which will be of aid in the enforcement of the law against other combinations of a like character. But, aside from that, my greatest difhculty I should have in dealing with the case you mention is what I have outlined above. Very respectfully, Geo. W. Wickersham, Attorney General WHKRK IS JONES? Convicted Murderer of Abe Pearlstine lias Authorities I'p in the Air. A Columbia dispatch to the Charlotte Observer says it transpires that nobody there knows exactly what is the status of John J. Jones, the attorney who was sentenced at Orangeburg some months ago to serve ten years and a day in tho State penitentiary for the murder of Abe Pearlstine, a merchant, in Branchville, where both Jones and Pearlstino lived. Jones' attorneys gave notice of intention to appeal and shortly afterwards .Tones was removed at his own request to the State penitentiary to await the determination of his appeal because the prisoner thought the Orangeburg jail unsanitary. The appeal was never perfected and none therefore is pending so that curiosity is expressed as to why Jones has not commenced serving his sentence. Governor lllease has refused an application for clemency. Capt. D. J. Griffith, superintendent of the penitentiary, said that he understood Jones had an appeal pending, but that whether this was the case or not, the penitentiary held Jones at this time only subject to the order of the Orangeburg county authorities. Gen. U. R. Brooks, clerk of the Supreme Court, said Jones had no appeal pending in that court and in fact he knows nothing whatever officially concerning Jones' status. Counsel for Jones, the Orangeburg law firm of Wolfe & Berry, could not be communicated with Monday night. TELS AWFUL STORY ENGLISH OFFICER WRITES OF ITALIAN CRUELTY. Lieut. Herbert Montague Declares That European Troops Are Practicing llarbarious Atrocities. A cablegram from I^ondon says agitation against atrocities by Italians in Tripoli, which has sprung up in the British press and is supported by a few members of the house of commons since uncensored reports arrived from English newspaper corre spondents concerning recent occurrences in Tripoli, received fresh impetus through a telegram received by a news agency from Herbert Montague, a second lieutenant in the Fifth Fusiliers. He telegraphed from Soulkeli, via the Tunis frontier: "I feel it my duty to send to you the following telegram and beg you in the name of Christianity to publish it throughout England. I am an English otllcer, now a volunteer, serving in the Turkish army here. "As you know already about the ferocious resistenco which the Turks and Arabs are offering the Italians, I will only express my admiration for their bravery and fortitude, which would warm the hearts of any Englishman or of any true soldier in the world. "Imagine my feelings when, on entering and drivintr the Italians out of Arab houses, which they had fortified and were holding, we discovered the bodies of some 120 women an children with their hands and feet bound, mutilated, pierced and torn. Later on we found a mosque filled with bodies of women and children mutilated almost beyond recognition; I could not count them, but there must have been 300 or 4 00. "Can not England do something to stop such horror In our Christian times you can hardly believe it, but is true nevertheless. I myself have seen it, so I know. Even now we are getting news of further massacres of women discovered on different farms lately occupied by Italians when they slaughtered the innocents obviously was one of revenge for their heavy losses in battle. We ar at this point under a heavy shrappel of fire, so you must excue me if the sentences are somewfoat disjointed. There is also an aeroplane circling over our position and directing the enemy's gun fire on us." ESCAPES WITH WRONG TWIN. Planned to Wed Mary, Rut Took Sister Retty by Mistake. Capt. Harry R. Edwards of the schooner May H. eloped from Kent Island Monday night with Miss Betty Harrison, daughter of G. F. Harrison, a farmer who lives near Anapolis, Ind. Edwards spent his vacation last summer at a house near that of the Harrisons, who had twin daughters. People living on the Island have often mistaken one of them for the other and that was what Edwards did when he eloped Monday night. He landed from the schooner intending to elope 1 i 1. 1 f 1 T ! - ^ T T _ ^ ~ 4, - i i .. wim iviiiry riarrisuii. ne met ueny first, and thinking she was Mary hurried her off to a parson and then aboard the schooner. The schooner is somewhere in Chesapeake Hay, with Edwards and his wife aboard, headed for Baltimore, while Mary is mourning the fate that eaves her a single woman. It was reported last summer that Hetty was jealous of the attention paid her sister by Edwards, and it is believed she learned Edwards was going to marry 'Mary, and decided the best way to stop it was to marry him herself. KILLED IN GIN SHAFTING. i %?...* .....1 i ivki"ii.> itkiii \ niiu vvi u.^ihmi to Dentil at Gin. 'Mr. Riley Porter, of the Mountain View section of Pickens county, was killed Thursday by being caught in a line shaft at his brother's gin. Mr. Porter was working at the gin at the time of the accident. He went to put a belt on a wheel and his right arm was caught and broken off above his e'bow. lie was carried twice around the shaft and received internal injuries. He lived about seven hours, and remained conscious until ho died. Pound With Throat Cut. A. S. Cook, a young white man from Monroe, was found dead with Ins throat cut, on the front of a negro house in Charlotte Sunday morning. The jugular vein was severed and one hand badly cut, as though he had attempted to ward off a knife thrust. ? Yacht Missing. The steam yacht Alvina owned by Jos. F. Cole of Duluth, Minn., has not reported her whereabouts since the "big blow" of Saturday and early inquiries Tuesday failed to give any trace of her. ? ? ? Killed by Train. At Buffalo, N. Y., Kennedy Alonzo Dewel and his wife, blinded by the storm, drove in front of a train and were killed near there recently. SERVES All RIGHT JAIL SENTfiNCH FOR ABDUCTOII OF YOUNG GIRL. Her Preacher Affinity Doffs His Disgraced Ministerial Garb for Prison Stripes. ; A dispatch from Shelby, N. C., says Rev. B. L. Padgett, the Holiness minister indicted under several charges for illegal relations with pretty Miss Carrie Stockton of Kings Mountain, was convicted of the most serious of the charges against him in the superior court of Cleveland county at that place. Judge Webb sentenced Padgett to two years in the State penitentiary, and Solicitor Wilson cancelled the other indictments against him. Padgett is a tall, rather handsome man, with an intellectual face. He first knew the Stockton girl when she was a mere child, twelve years ago, and has been going to her home in Kings Mountain since that time. Some time ago he held a series of meetings there and boarded at the Stockton home, several members of the family being members of his church. He seemed to be infatuated witn this little daughter and made gifts of clothing and jewelry. There are other indictments stand ing against Padgett in HurKe uounty, N. C., and Greenville, S. C., both growing out of his relations with the Stockton girl. The charge against htm at Greenville is for kidnapping the girl, the arrest having been made in Atlanta. Ho will be turned over to the Greenville authorities when he completes his sentence in North Carolina. The charge against him in Hurke County is a more serious one than that on which he was convicted at Shelby, having been a capital offense prior to a charge of statue a few years ago. During the trial Mrs. Padgett and his daughter sat besides him and listened intently to the evidence. Many people were at Shelby from Kings Mountain, where the sentiment is strong against him, and the court room was crowded throughout the hearing of the evidence. The Stockton holding a position as superintendent of the spilling room in one of the large mills there. PREVENT DISEASES. The State Aids You to I)o So at Its Own Cost. Among the most instructive? probably the most valuable?single exhibit at the County Fair is that under charge of Dr. F. D. Rodgers, of Columbia, an official of The State Hoard of Health. The State Hoard has been doing more work lately than ever before and countless valuable pamphlets are prepared by them telling you of various infectious diseases in simple words and how to prevent. Their work is entirely in bettering the health of the State. At the recent State Fair this department had an exhibit and the same one has been sent to Orangeburg under Dr. Rodgers. This is the first county fair it has yet visited. I)r. Rodgers talks very interestingly to all interested about various diseases, although at present he is particularly talkative about hookworm, one of which he has for inspection under a microscope, lie has many pamphlets, concerning contagious diseases which he is giving away. He shows diptheria anti-toxsin, typhoid vacino, small pox vacine, pictures of people suffering from the hook worm, and also gives to anyone cartons for sending hook worm examinations to Columbia. He is calling especial attention to a sanitary privy, which can be erected for about six dollars, and which will aid largely in keeping down typhoid, and other diseases carried by flies. Advertising Brings the Business. The business man who does not advertise might almost as well put his goods in a basement as on the shelves of his store. He does not. realize the truth of the statement made by Lord Macauley years ago when steam was the great motive power, that, "Advertising is to business what steam is to machinery." Ho would soon know the truth of it to his great financial gain if he would but test it. This is what the progressive business man does with consequent prosperity to himself and of gain to tho public. Long Walk of Blind Man. George Pinto, 2 2 years old, a former teacher in an institutte for the deaf and blind in Hoston, has arrived in Kansas City after a 2,000 mile journey on foot. Impaired both in hearing and eye-sight and advised by physicians that his only hope of health lay in the open air, Pinto made the trip to Kansas City. He left Hoston in January. * Client Thrashes Lawyer. When ho lost his case in the police court at Richmond, Va., Kncole Subreizl, a tailor, turned upon and violently assaulted his lawyer, Walter Rhodes. Justice Turner ordered Subreizi imprisoned for 20 days, but the forgiving attorney sought clemency for his client, and saved him from Jail. tfANK OF ( onwa1 Hat largest capital and surplus of ai than the combined capital and turpi CAPITAL STOCK SURPLUS LIABILITIES OF STOCK] SECURITY OF DEPOSIT< DIREC Robert B. Scarborough, H. L. Buck, leorge J. Holiday, We offer our customers every accc will justify, and we s robert b. scarborough, D, President. ^ We continue to pay 5 per 9*9999 99999999 f FIRST NATIC ^ oonwa"! i ^ capttat, stoc7k [ fa SURPLUS PROFITS .7 ... . TOTAL ASSESTS fniREcn J. A. McDermott, John C, ?13. G. Collins, H. L. 131 M. Burroughs, C. P. Quai Successor to the Bank of ^ Horry County, and a pioneer ly allied with the recent deve fa Republic. Backed by the G fa United States Bonds, we are pr ^ tomers any reasonable acoomjm 1 H. A. SPIVEY, f|j Cashier. SAYS HE WAS THE MAN % ATLANTA JUDGE SAYS GAME WAS WORKED ON HIM. ? The Cose of the Want Ad. Wooing Preacher in Atlanta Seems to Re Mixed Up. An Atlanta dispatch says the Ferrell matrimonial case is holding the minds of people of that city puzzlied, as one development follows another! in surprising succession. Letters | have been received by Judge Nash R. i Hroyles from GafFney, S. C., indicating that the man who appeared before him last Thursday saying he was the Rev. W.A. Ferrell was an impersonator who simply wanted to clear the name of Ferrell. On November 1 a man giving his name as Rev. W. A. Ferrell was arrested on complaint of a young lady, the man having answered anonymously an advertisement she placed in the paper asking for a position as bookkeeper and offering to marry . her. The case was dismissed as the man's proposition seemed to have been sincere. Last Thursday another gentleman presented himself to Judge Rroyles with letters showing he was Rev. W. A. Ferrell and declared that the first man was an impostor who had used his name without authority. The judge gave him a letter of exoneration. Letters just received indicate that a friend of the real Rev. Fe'-rell who was in fact tried in Atlanta, came to Atlanta and obtained the exoneration by deception. A pictore was sent in one of the letters?a miniature of Rev. W. A. Ferrell?and it is pronounced by the judge and court attendants as a photograph of the man who was tried at Atlanta for his want-ad wooing. The case seems to be much mixed up. Mr. Ferrell may have to appeal to his conference, which soon meets at Bennettsville to look into the matter and exonerate him. This is the best course for him to pursue if he was not really the man who was tried before Judge Broyles at Atlanta. DEMOCRATS WIN NEW MEXICO. Elect All State Officers and One United States Senator. In her first election New Mexico goes Democratic. The entire Demo cratic State ticket headed by W. C. McDonald for governor, as well as congressional candidates H. B. Fergusan and Paz Valverde, have majorities between five and six thousand. With many outlying districts unheard from, interest in Tuesday's elections centers in the neck and neck race between the Republicans and Democrats and Progressive Republicans' coalition for the control of the legislature, whijch elected two United States senators. Latest returns give the Republicans 33 out of 72 votes in the joint assembly and the coalition 35 with four seats in doubt. Should the coalition control the legislature, it is expected that one of the new senators will be a Democrat. Subscribe for this paper. HORRY, f. s, c. . | ay bank in Horry county. More V us of all other banks in jthe county. $60,000 12.600 HOLDERS .. .. 60,000 * <? n r AA # JKb * riOKS D. V. Richardson, # W. A. J oliiiboii, Will A. Freeman, immodation which their accounts olicit your business. , V. Richardson, will a. fbrbmab /ice rrEMDKNT. oABHIIB cent. on yearly deposits. )NAL BANK \ I. 8. O. ? . *25,000.00 Jk 2,500.00 TO ^ 125,000.00 .A 'OltS: , Spivey, D. T. McNeill, ? nek, W. R. Lewis, D. ttlebaum, D. A. Spivey. Conway, the oldest Bank in Ufr in Eastern Carolina. Closeilopiuent of the independent Hf overnmeut and secured by Ufr epared to extend to our cue- ^ odationg. Mr II. a. COLLINS, X President. ^ PROFESSIONAL CARDS. H. H. WOOD WAlt1J Attorney and Councelor At Law. CONWAY, S. C. > V _* T M. B. SUAJUBKOL'UM CONWAY, b. L, Attorney at Law. Jr H. H. BCKHOCCHA Physician and Surgeon. CONWAY, 8. O. B. WOFFOKD WAll. Attorney at Lav/. J k r Bank of Horry Building. r'"| CONWAY, R. C. ME WORLDS GREATEST SEWING MACHINE Ka - Mm \ 1 m M M ^v^T^rH^MKplwnMnkQDjH^Hn^ Ifyuti want either a Vibrating Shuttle, Rotary V fibutUeor a Mingle Thread [Chain ?Uilck\ / Bowing Machine write to '1 M KCW NOME SEWIN8 MACHINE COMPAQ Orange, Maaa* MWaewtngmachlnet are made to tell rciwdlaaNf twUty, but the New Home it made to wcat. Oar ffuarmntr never runt out. (M 1*0 anihorlted dealers mmt0kj j k roa sals a* v J, BUKROUUiim a U)hliiMH CO., Uonway, A. O. j Died in a Little Pond. Thomas Estridge, a white man, about 4 5 years old, committed Rulclde Friday by drowning, jumping into a pond near the Lancaster cotton mills. A party saw him when he Jumped into the water and attempted to rescue him. lie was in the last stages .i of pellagra. He leaves a blind wife. rSigns Four Death Warrants. Four death warrants have been signed by Iov. Jarod Y. Sanders of Louisiana, to be executed in the state penitentiary this city on January 12 next. One white man and three negroes convicted on murder charges will be hanged unless the pardon board Intervenes. Send in your subscription now to. this paper.