The Horry herald. (Conway, S.C.) 1886-1923, January 01, 1914, Image 5
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.