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GETS MUCH PRAISE VILSON AND M'REYNOLDS LAUDED FDR TRUST FIGHT INDEPENDENTS PLEASED Telephone Companies Not Connected With Western Union Express (irstiflcution at the Restoration of Fair Competition, Which Was About to he Crushed. Attorney General McHeynolda has received many letters or commendation from independent telephone companies congratulating him upon his work in bringing about tho disoslution of tho Hell telephone and Western Union Telegraph interests. John II. Wright of Jamestown, N. Y., president of tho Independent Telophone Association of America, in a letter to tho Attorney General received recently, said: "On behalf of tho Independent teleDhone interests of tho iTnltmi stntoc 1 desire to express our appreciation of the splendid manner in which you have protected our rights under the law. For a long time we have felt that there was some adequate remedy against tho wrongs that were openly perpetrated by the Hell interests, which were designed eventually to end all competition. Tho agreement you have reached indicates most satisfactory results which constitute a justification and compensation for our long struggle for that end. "May wo also, through you, express to President Wilson our appreciation of his distinguished personal consideration of this controversy and the unfailing patriotism that has characterized his attitude throughout?" H. O. Tlubbell, president of the Federal Telephone and Telegraph company of Buffalo, writes: "You have done a wonderful work for public good and are being proclaimed a hero by independent telephono interests, which embraces in its scope inoro than 400,000 security holders." Mr. Hubbell also invited Mr. McReynolds to address the Independent Telephono Association of A niorif n Timnl ill rr }n Pl.lnnnn ?? T ...uu..vu mvuiuig in v^ii n:a^U U 1 l .JtVUuary 7. Since the announcement of the plans for tlio reorganization of the Telephone Trust there has been one caller on tho Department of Justice In the cause of a prosecuted combine, i#) re than a hundred telephone calls and scores of letters and many telegrams seeking to learn what may bo expected in the suit of tlio (lovernment against certain trusts. Mr. McReynolds left Washington for Kentucky last Saturday and will not return until next week. In his absence there is 110 one at tho department authorized to act for him in taking up fresh proffers from trusts which wish to reform. The inquiries and reports of negotiations and protective agreements have persisted, however, and in the list that has been mentioned have appeared what are regarded at tho Department as some of tho most important suits that have been filed in many years. Mr. McReynolds, in talking over the efforts of directors of tho New York, New Haven and ITartford Railroad company to avoid a trust suit, has made it plain that he is not willing to accept offers which do not mean a reform in accord with the department's own ideas. ? IIUERTA CLAIMS MILLION. * Mexican Resident Says He Can Secure That Many Soldiers. Replying to a letter sent him by the correspondent of the Frankfurter Zeitung, a German newspaper, President 1 Inert a said that if it should become necessary he could put Into service immediately more than 1,000,000 armed men. This statement he explained as follows: "Without counting the 160,000 men of the national army, the government in agreement with various states of the republic have organized an armed force for the local service of 1,800 men for each state. Also the government has arranged with 62,00 0 hacieneados (farmers) that they keep ten armed workmen each for their own protection. "Thus, then, the government counts upon tho number of armed men aggregating seven hundred and somo thousand without taking Into consideration tho reserves, which to the number of 300,000, could be organized If the peace of tho country should be disturbed." Sign Peace Treaties. Secretary Bryan and Chevalier Von Jtappard, the minister from tho Neterlands, Thursday signed a peace treaty for their two nations. Netheris the first European country to agree to Secretary Bryan's peaco plan. Jx>ses Two Fingers. While testing a toy cannon -which bo had bought for hie son, Charles Yeager, a diver, of Charleston, lost two fingers in tho resulting explosion Saturday, iiii * \ BLOODHOUNDS CATCH HIM ? XKCillO WHO ASSAVI/TKl) WH1TK W()MAN CAPTUllED. ? Wife of Confederate Veteran Attacked in ller Home During Her Husband's Absence. On Wednesday about 12 o'clock Buck Hill, alias Buck McLeod, a negro, assaulted a white woman while she was at her homo near Brown's chapel, which is ten miles southeast of Columbia on the Leesburg road. The negro was trailed by the bloodhounds from the State penitentiary and captured about 4:30 o'clock by Sheriff McCain, Coroner Scott and the members of a posse who left Columbia in automobiles at 1 o'clock Wednesday for the scene of the crime. The negro was lodged in the Hichland county jail that night. an* ~ * ' * ' i no uegro s victim, who is about .15 years old, is the wifo of a Confederate veteran, a man of excellent standing in his community. She was alone in the house at the timo the crime was committed. Her husband had gone to Columbia on business and did not leave for homo until about 2 o'clock. Ho was informed of the affair after he had gotten a| few miles from Columbia. I There were threats of violencej against Ruck Hill after he was captured. While Sheriff McCain talked j to the crowd which had been aiding in the man hunt, the negro was put in the automobile of Coroner Scott and carried to Columbia. The crowd, which grew rapidly as the news of the crime spread over the Crown's chapel section of the county, was not difficult to handle, but Sheriff McCain took the precaution of getting the negro away from tho scene as soon as possible. The unfortunate woman is said to ho iii a serious condition as a result of the negro's assault upon her. She was badly bruised about the face and neck, while one of her hands was hurt in the struggle with the negro. The sheriff's office was notified by telephone of the crime about 1 o'clock by Mr. Gaston, the principal of a school near Hrown's chapel, who was one of the first men to go to the scene. After getting the dogs from the penientiary Sheriff McCain left immediately in an automobile, taking Guard liobbins, Officer Henry Dunning and I)r. J. E. Hciso with him. The bloodhounds readily took the negro's trail away from the dwelling house in which tfio crime was committed. The dogs followed the tracks for some time, then became confused by cross trails, but after a little they carried the tracks to Hill's house, which is only a milo from the scene of the crime. The negro Hill, alias McLeod, was found in the house with several other negroes. Tie was arrested and taken before the woman on whom tho crime was committed. According to Cheriff McCain, tho woman positively identified the negro as the ono who committed the assult upon her. When the negro was arrested at his house by tho sheriff, he insisted that he must bo allowed to change his clothes and shoes before he left home. He was taken before tbe woman dressed just as ho was. It is said that the shoes he wore were of the same size as the footprints leading away from the sceno of the assault. I SACK OK MAIL LOST. Mysteriously Disappears From Crane at CiafTnoy Depot. Gaffney post offlco officials and employees of the Southern Railway at that point aro anxiously wondering what becamo of a sack of mail supposed to leave Gaffney last Friday night on northbound train No. 3 0. The sack was closed up at the usual hour at tho post odico and turned over to tho railroad later being hung up on tho crane for northbound troin No. 3 0, at 0:45 o'clock. The station agent saw the sack hanging on the crane only ten minutes before are arrival of tho train, but when the train reached thero tho sack was gone and has not been seen or heard ol since. A thorough investigation has been made by tho post oflice officials, assisted by tho railroad, but so far there has been absolutely no clue as to what became of tho sack. When asked whether or not it contained any valuables, post office offi uiais said mat tnoro wero no registered letters or money orders in that mail, but it is, of course, impossible to estimate what tho loss of some ot the letters may mean. Two New Rural Routes. Two additional free delivery routes will bo established January 1 from Bamberg, to bo known as Routes 3 and 4. Route 3 will be twenty-two miles long, and will servo ono hundred and twenty-six families. Route 4 will bo twenty-four miles long and will reach ono hundred and fifteen families. ? Train Kills Negro. Nim Romar, an aged negro, wa? struck by a train on tho Southern Railway, neat Welford, Sunday nlghl and killed. He was drinking. NEW CURRENCY LAW MEANS FINANCIAL DELIVERANCE TO THE PEOPLE ? SHACKLE WALL STREET What the liFe<lenil ltesorvo Act" Just Kimcted Into Law l>y OonRross and Signed by President Wilson Really Means in u Fnancial Way to the Nation. Tho "Federal Reserve Act", recently passed by Congress and signed by President Wilson, is undoubtedly the most important and beneficial | legislation to the nation in financial I way that has been enacted by Congress sinco tho close of the civil war. Tho three great reforms accomplished by this bill are: 1. A true and elastic national currency, based not upon government fiat or government debt but up on tho commercial resources of 100,000,000 people. This currency is definitely established <>n i lw> n..*1..-.1 V..V. hv'n? Diaiiuai u, 2. The complete separation of the organized banking system of the country from the New York Stock Exchange and Wall street gambling. 3. The destruction of the centralized control of money and credit? the so-called Money Trust?and the extinction of a centralized bank, both in principle and practice. The Federal reserve banks to be created by tbis act will disturb in no wise the commercial banking operations now conducted by 7,500 national and 15,000 State banks and trust companies. They will disturb in no wise the identity and independence of those banks. The reserve banks will be banks of banks?banks owned by banks, conducted primarily by banks and doing business only with banks. They will be what the name implies?banks to mobilize and guard and better utilize the reserves of banks. Not less than eight nor more than twelve cities will first bo designated by a committee named in the bill for the locations of the Federal reserve banks. These cities will be representative of as many sections of the continental United States, which sections will be marked off as Federal reserve districts, whose lines will have regard to the convenience and customery course of business. National banks within each district will bo required to take stock and carry reserves in the Federal reserve bank of the district or surrender their charters. State .banks can come in or stay out as they please. Subscribing or member banks will buy shares in the reservo banks to the amount of 0 per cent, of each inem?fc>er bank's capital and surplus. Tbis stock will pay 6 per cent, dividends. All other earnings will go to surplus and then to tho government, which will deposit its free funds without interest in tho reserve banks. Tho great particular evil first cor rcncd ?y mis ftc.i relates to the redeposited and centralized reserves of country banks. The country national bank is now required to maintain $ 1 f> in gold, silver or greenback ("lawful money") for every $100 of deposit liabilities or credits against which checks are drawn my its customers. Hut $0 of the $15 may be, and is, sent to a New York city or some other central reservo city bank. This bank in turn uses this money as part of its own reserves to create four times as much demand credit, or $3 0 in addition to the $100 of credit " already put out by the country bank. This is the "pyramiding" of reserves which has caused so much Wall street speculation and panic and severity of panic. Under the new system this country hank will be obliged to maintain $12 in cash reserve on every $100 of de1 mand deposits or credits, of which $1 must be in its own vaults; $5 in 1 gold must be kept with the Federal reserve bank, and the remaining $2 ! may be carried either with the re! serve hank or in its own vaults. As matters now stand with this typical bank, it can in times of stress scramblo for its reserve money in 1 New York, but usually can not get it. It. is tied up in loans on Stock Fxehango collateral and can not ho ro1 leased without causing a stock-market panic and then a general hank and business collapse. Under the new system, however, the reserve money held in the re' serve bank of the district can not be \ recalled or scrambled for in a time of stress. Hut it is open to emergency use and in tho one way most desired at such a time by the member bank?through issues of circulat1 ing notes bearing the indorsement of i tho United States and given out to \? i 1- * mo uioiuuer ironic, under tne protec> tion of a 4 0 per cent, gold reserve, on such prime notes and bills of cx> change of early maturity as tho memI her bank has to put up. i These circulating notes can not Issue on bills protected by Stock Exchange collateral. They completely exclude Wall street speculation from ? the new credit system and from the i Federal banking system. Banks ac1 commodating Stock Exchango gambling can use only their own money FIGHT FOR THE FARMER IjEVER (JETS IIOI SE TO ACCEPT SE N ATE A>1 EX I ?l EX T. ? Action Guiirnntces That the Amendment Secured in Senate by Senator Smith Will Rocoino Law. Representatives Lever and Crisp came strongly to the rescue of the farmers Saturday in the llouso when Mr. Lever, after agreement with Mr. Crisp, moved to instruct the llouso conferees to agree to those Senato amendments to the currency bill which provided that notes, drafts and bills drawn or issued for agricultural purposes having a maturity not exceeding six months, may he discounted and extending tho provisions of the bill in reference to loans on farm lands from one to live years. Messrs. Lover and Crisp both fought hard for the provisions in the House bill but wero defeated, but they took advantage of tho parliamentary situation Saturday to force tho House to agree with them with a view of placing tho paper of the farmer on tho samo footing with paper issued from any other source and at the samo time putting a longer limit upon loans upon farm lands. Tho action of tho South Carolina and (leorgia congressmen Saturday makes i certain that tho farmers of tho country will ho as fully protected in the currency bill as will other people. Tho point raised by them proved to ho tho vital proposition considered by the House and to their efforts and understanding of tho parliamentary situation the victory of the farmers is due. It was extremely gratifying to Senator Smith of South Carolina, who had made tho fight in tho Senate for the extension of loans to farmers, that even though tho House disagreed to most of the Senate amendments it made an exception with regard to two, and instructed the conferees to vote for his particular amendment. This action guarantees their retention in tho bill. Senator Smith said Saturday night: "In view of the action of the Senate and House it has at last come to pass that tho farmers are being heard and their rights respected as they should he. It. is not a question as to whether or not it Is convenient for legislators to so frame legislation as to include tho farmers, it is a question of a fundamental duty that of all those engaged in tho different industries of this country tho farmers should have extended to them every encouragement and aid that can be given them legitimately. "The farmers have a right to demand it, and they are now getting in a position where they can demand it. I They rigidly have tho first claim to financial legislation, for tho entire world is first dependent upon them. Tho two features of this bill, allow-j ing their notes, bills and drafts to be subject to rediscount for reserve money, and tho admitting of real estate as a collateral in tho national hanks, place them in a position where with tho same economy and thrift that characterize most of them, they can realize a profit at the end of the year as others do and not disappoint meat as they have been accustomed to." and not the money of the country at large, as now. Hut is there not still a "pyramiding" of reserves under tho new system through circulating notes instead of deposit credits? Hero is the whole crux of the question of inflation. There is such a "pyramiding", but not all the time, as now; not easily at any time save when money is tight, as in tho crop-moving season; and then only to the extent of two and one-half times tho reserve held in the Federal reserve bank, as against four times tho reserves now carried for other banks in our central reserve cities. It is necessary, moreover, to remember that there is no essential difference between a bank credit given to a business man on bis discounted note as a deposit to be checked against, and a bank credit given to him in tbc form of circulating notes the more conveniently to pay wages. Nations and business within nations differ in preferences for the one or the other form of bank credit. In England and the United States the check-deposit form is preferred, partly by compulsion. In France and Germany tho circulating-note form is preferred. This act of Congress opens to business in tho United States an exercise of the preference for the circulatingnote form, which is especially needed by farmers. To say that this means inflation is to say that business men ourt rr/T.S.w* * ~ > . . cuu ^uui^ n; nwiiDiD up on meir (i(U)is to banks by using tho two forms of credit in full instead of yielding tho one in whole or part preference for the other. Put if business men were so recklessly disposed, this new system provides tho restraint of the self-interested member bank on the borrower, tho restraint of tho Federal reserve bank on tho member bank, tho restraint of tho Federal Ueservo Hoard on the Federal reserve bank, the restraint of a largo gold reserve and a high rediscount rato. Theso are tho two great services rendered by the now system. It safeguards reserves against speculation BALItS THE FLAMES WILSON DIRECTS FIRE FIGHT ON THE GULF COAST PUTS OUT BLAZING FIRE ? While Returning From Rolf Links tho President ('ftlohcs Sight of 11 hi/.o on Roof?Sounds Alarm and Kxtinguishes Fire Hefore the Local Department Arrived. President Wilson Friday night found himself tho hero of the gulf coast. Word spread far and wide that tho watchful oyo of the chief executive of tho United States had spied a blaze that threatened to destroy one of tho handsome homos of the Southern shore and that ho had acted tho volunteer lire chief in a manner that long will ho remembered. The incident created a stir in the otherwise quiet life of tho gulf esction. The president was returning from ji quiet name or goir towards noon and on passing through (Julfport, eight miles from Pass Christian, Miss., saw a blaze on a roof of a big house. It was the homo of John J. H. Neville, who won fame in 1891 by prosecuting John P. Sullivan for a prizo tight at IUchburg, Miss., with Jake Kilrain. Mrs. Neville, who was alone in the building, had run to the window to watch the president go by, when suddenly two machines stopped and the president himself alighted. Quick as a Hash ho darted up the front steps, followed by Dr. Cary T. (Irayson, IT. S. N., the secret service men and chauffeurs, who had unstrapped the tire extinguishers from their machines and awaited the president's orders. Mrs. Neville was confused. "Don't he alarmed," said the president coolly. "Your house is atire, hut the men will put it out quickly :f you will show them the way to the attic." Mrs. Neville pointed the way upstairs and Robinson and Fredericks, the chauffeur's, broko a window and climbed out on the roof, while James Sloan and Jack Wheeler, the secret service guards, tore awav the kMm glos and helped light the flames. Mrs. Neville did not know how to treat her unexpected but distinguished guest, who urged her to keep calm, as ihere was no danger. "Will you come into the parlor?'" she asked. "No, thinks," replied the president, "hut you might let mo get a bucket of water." Mrs. Neville has-| toned to comply, hut before it could he of service the firelighters on the roof had descended with the report that little damage had been done and that the blaze was out. "Well done," said tho president and the entire party left the house for the automobiles. The chief of the local lire department was just arriving with his hook and ladder and other apparatus. "The fire's over," announced the president, and added, with a proud smile, "my men have just put It out." Judge Neville and his son came running up at that moment and a big crowd collected. Tho judge was profuso in his thanks and spoke appreciatively of tho president's thoughtful concern for Mrs. Neville. Tho president took no motor ride in the afternoon, resting after his exertions at golf. Tie enjoyed the change in the temperature and was enthusiastic about the links which lie along the shore of tho gulf. The president dictated a few letters and read scores of telegrams that poured in, congratulating him on the enactment of tho currency .bill, lie took a nap during the afternoon and again spent the evening with bis family. Auto Goes Wrong. One person was killed and two wero in in red Sundsiv nicnt ? ? v... V. m ^ II \f ? lli;il <111 automobile traveling along a driveway in upper Central park, New York, dashed over a low stono coping of a bridge and dropped 25 feet to a foot path bordering tho drive. and for the day of need. It provides what we have not had in fifty years? a currency which can expand with the needs of business reilected in prime commercial paper and whoso contraction is provided for as that paper mat ures. It releases the country from tho menace of such panics as that of 1 007. It releases business from tho strait-jacket of a currency whose volume is as fixed as a fixed government bonded or greenback debt of tho nation and which never contracts when expanded by an expansion of that bonded debt. Tt provides, through tho reserve banks and tho Reservo Board, an equalizing power over discount rates throughout tho country and a control over tho movements of gold. It will extend to American business banking facilities abroad. It is a meeting of tho country's financial and commercial needs long sought but never before realized. It is of that "constitution of peace" after long conflict which President Wilson refers to in signing tho bill, into which "business men of all sorts aro showing their willingness to como", SHOOTS MAN TO DEATH KILLING IN LOWFB KIK3K OF HAHNWKLIi COUNTY. Slain Mftn Said to Have lleen Climbing I'OiKO Despite Warning Who* Fired I'pon. An^us L. Main, a prominent citizen and farmer who lives near Jennys In tho lower edge of Barnwell county, was shot and mortally wounded at the home of W. 11. Mixson by the latter's daughter, Mm. Susie Mlzelle, about 7:30 o'clock Wednesday evening. Mr. Main died about three hours after bolnf shot. The Mlxson home Is about six rnilo? from Fairfax, and Main, who was the last customer at tho dispensary at Fairfax Wednesday afternoon, was on his way homo In a buggy, having with him a negro named Calvin Johnson. When they got to the Mixson homo they drove tho buggy into Mr. Mixson's lot. Mrs. Mlzelle, hearing them using profane words and not knowing who they wore, called, "Who are you?" The answer came from Main: "It makes no difference who I am; I'm coming In." Sho warned him not to eomo any farther, telling him she would shoot him if ho did, ami in tho meantime calling to her little brother to bring tho gun. Main did not heed the warning but started to climb over tho fence between tho horse lot and tho residence yard. As he was almost over tiie fence about 2 5 feet from her she fired tho gun which was loaded with bird shot. Tho load took effect in tho loft side of tlio face .'it tho base of tho nock. Main foil back across (ho fence, his foot being on (ho inside of tho yard, and remained in (bat pjosltion until nearby neighbors who heard tho alarm came and removed him. Mrs. Mizollo and her husband, Robert Mi/.ello, and their child had come from Kstill, whore they live, to spend the holidays with Mrs. Mizelle's parents, Mr. and Mrs. W. If. Mixson. Mrs. Mlxson was sick in hed. Mr. Mixson and Mr. Mizollo had gone to pay a visit at tho homo of friends about two miles away when Main and tho negro arrived at tho Mixson home. Magistrate Tj. IT. Williams held an inquest and tho jury rendered a verdict that tho deceased camo to his death by tho effect of a gunshot wound inflicted by Mrs. Susie Mizollo. Main, who was the son of Mr. and Mrs. Walter Main, was about years old. lie leaves a wife and six children. 11(3 was an inoffensive man when sober, and his act is undoubtedly attributable to his being unbalanced at tho time. If ho had told Mrs. Mizollo who tie wna ?lir> not havo hurt him, for sho knew him well. It is probable, however, that he did not know where lie was when he stopped at the Mixson homo. ? VOLCANO KKUPTS. ? Deals Dentil to Fivo Hundred Near New South Wales. Steamers arriving at Sydney, Now South Wales, bring terrible details of the recent volcanic eruption on the island of Ambrim, in the New Hobrides group, in which 500 natives lost their lives. Witnesses of the disturbance describe it as having been so sudden and violent that they expected to see the wholo western side of the island disappear. With a terrific roar, which followed with a rapid succession of artillory-liko detonations, all the craters of the volcano entered into full activity, spouting flames and lava and throwing out huge boulders. Great streams of lava soon wero rushing down the slopes, cutting off the villagers from escapo. In one instance, two torrents of the molten mass joined and inado an island of an entire section of a village. Hero 50 or CO persons perished. The scenes at night wero awe-inspiring. Flames shot into the air to a height of a thousand feet, illuminating the wholo sceno of destruction. The ocean seemed to boil as huge superheated masses of stone fell into the sea and streams of lava poured into the hay. Dust from the craters gradually formed a black cloud which blotted out the light of the stars. The bay, after the eruption. was filled with dead fish and largo numbers of dead turtles. The water in tho river was hot. * Mania for Setting Fires. Herbert Whlttaker, a nineteenyear-old boy of Quincy, Mass., was held on his confession that ho had set firo to seven buildings within two days. Tho youth's foster parents say ho has had a mania for sotting flros sinco ho saw his father and mother perish in (lames that destroyed their home eight years ago. Three l)io in Flames. A mother and her two small children wero burned to death and threo other persons slightly injured in a firo which swept through an East wow York tenement houso Wednesday. Broken in Two Places. Walter Chapman, a young white man of T.exlngton had his arm broken iii two places when It caught In a belt which he was trying t* replace.