The Horry herald. (Conway, S.C.) 1886-1923, October 22, 1914, Image 8
r GREAT EXPERTS MEET
CONFER ON COTTON
AND RESTORATION OF TRADE
BETWEEN THIS COUNTRY
AND ENGLAND.
THE WAR jSJHE CAUSE
Officials Feel and Know That the
South's Cotton is Crux of Whole
Matter,?Hope that Conferences
May Lead to Solution.
"Washington, Oct. 19.?Sir George
Paish, special adviser to the English
chancellor of the exchequer, Basil B.
Blackett of the English treasury. Secretary
McAdooi and the federal reserve
board today began conferences here
which are expected to have an important
effect on financial conditions
in Great Britain and the United
States.
Restoration of normal conditions in
foreign exchange dealings between
the two countries is the object of the '
meetings and they probably will have 1
u. direct influence on the disposition '
of the South'-i cotton crop.
It. became known tonight that of- 1
ficials of the American government
feel keenly that cotton is the crux of j
a situation which has many ramifica-N
tions and that on the success of plans) '
to care for surplus cotton ami on the 1
willingness of manufacturers to buy '
the stup'p, more than on any other 1
thing depends the value of Sir '
George's visit.
To Concider Exchanges
It is probable that before Sir
George returns to England the question
of reopening of the London and
New York stock exchanges wiil be '
considered. It was predicted here to- 1
night that the London exchange would '
reopen shortly, with the British gov- 1
ernment urging that London brokers ^
do not, call loans immPiUntolv Tf 1
London market is not greatly affected \
its resumption of business may be 1
followed by the New York exchange. 1
So much depends, however, on the 1
solving the cotton problem that
there probably will be no further con- 1
ferences until a committee of the 1
board, which is considering the pro- 1
posed $150,000,000 cotton, loan fund ?
plan, has found a satisfactory solu- *
tion. The committe, composed of A
Secretary McAdoo, Paul M. Warburg c
and W. P. G. Harding, returned to- c
day from New York, where it had
been at work since Saturday in an ef- ^
fort to convince New York bankers t
of the feasibility and soundness of s
plans for flic loan fund, J
Question of Conditions. S
The New York bankers promised to t
put up one-third of the loan fund, but v
prescribed conditions which it was i
/found could not be legally met. The
: retKnwe feoaird members proposed dif- \
ferent conditions and as a further in- d
ducemertt offered to let the northern y
section of the United States put up c
$3 Ao every $1 put up by Southern t
"banks with, the understanding that the r
Northern banks would have a Drier r
? * VJ
lion for their money.
Under this tenative plan Southern ,
fbiirfks would get the actual manage- (
ment of tire fund, the whole however, ,
'to be uno'er supervision of the reserve ?
board. Other conditions as to in- ?
teresl rates and prices of cotton were j
to be left unchanged.
'This counterplan has not been i
passed on finally, but every opportu- ,
nity will be taken to expedite its con- (
sideration, that the board may take |
up the discussion of international (
problems witli Sir George and Mr, 1
Blackett.
The cotton crop is of first import
ance in these conferences, for on it
the United States has relied in past
years to cancel the largest part or its
foreign indebtedness.
Would Buy Cheap.
Sir George is'known to hold that
English cotton manufacturers do not
wish to buy cotton now unless they
are satisfied it has reached the bottom
price. American manufacturers, ac
^wiuing to information available at |
the treasury department apparently
feel the same way and little cotton is
being sold.
With the $150,000,000 loan fund
in operation, however, it is argued
that millions of bales of cotton will
be taken out of this market and a
direct, and stimulating effect will bo
felt both here and in England. With
cotton moving again across the Atlantic
the indebtedness of the United
States to England would be decreased
rapidly and materially, and conditions
here would improve in consequence.
It was said tonight that cotton exchanges
probably would open shortly
>f arguments made here availed. One
difficulty is the fact that there are no
quotations on which the factor or the
manufacturer can base offers.
The Question of opening London
and New York stock exchanges probably
will be taken up later at conferences
with New York bankers. Secretary
MtfAdoo said that "representatives
of leading banking housese in
New York will be invited" to these
"-onfercncc!*.
.TTSSflra
i WAREHOUSE SiLL
PASSED SENATE
PROVIDES FOR ELECTION OF
STATE WAREHOUSE COMMIS
SIONER.
? I,
flPPROPRWTES {15,000.00
The McLaurin Bill Was Passed After
Considerable Discussion,?Sentor
Buck Had Introduced Substitute *
Which Was Withdrawn. '
]
rilhe first legislation in relation to <
the cotton situation took place last c
week when the State Senate passed ]
the McLaurin bill, which was carried,
by a roll call vote of 27 to 11 after de- y
1. I ... J If 4 /\ 1
?aie extending over iu (lays. | t
The hard fighting centering around c
the passage of this bill reached its I
climax in the senate when possibly f
p. score of amendments, principally 1
designed to add stability to the pro- f
posed system and define the extend i
of the title guarantee offered by the
State, were adopted. r
Senator Lidc led an unsuccessful s
effort to have the operation of the i a
system placed with a warehouse com- r
mission composed of the commission- i
?r of agriculture, insurance commis- b
sioncr, and State bank examiner, tie o
sxplaincd his desire to prevent at this p
'ime the creation of a new State of- s
deer, the warehouse commissioner, f
whose election by the general assembly
is provided in the McLaurin bill. t
The constitutionality of the bill ^
^ave occasion to extended discussion, p
luring which Senator Carlisle inquir- p
?d if the provissions of the bill guaranteeing
upon the State's credit the
lolder of the warehouse receipts
from loss did not invalidate the mea- (i
sure. Statements of other senators p
ndicated their opinion that the bill (
is it was finally passed through third f
reading would be held constitutional. s
Debate on the McLaurin measure e
vas resumed when the senate con- c
rAnn.l 1 _/l 1 ' ?
rcuvu, aim <tiu?r discussion narl con:inucd
two hours, during which Sen- ii
itor Buck's substitute bill was urged &
'or adoption by several senators, the fl
vay for the speedy adoption of the s
irignal bill was cleared by the with- a
Irawal of the substitute. a
Though the senate appeared on the tl
rerge of voting on the motion to table F
he Buck substitute bill, it was foreitalled
in each instance. Soon after
Senator Lawson'had declared the sub- ?
jtitute bill was "totallly inadequate tl
o meet the contingencies," the author k
vithdrew his measure after obtaining
inanimous consent. n
Attention of the senate after the v
r
withdrawal of the substitute bill was ^
lirected toward "securing a ware- P
loune system which would issue recipts
backed by the state's guaran- ?
ce sufficiently to pass current for l}
noney," according to the expression 1
if Senator Banks.
r>C f Vtn 1VT/-.T 1-.UI
V VA UK' ATI V, iJU U I 1 | 1 UJil lltT"
^eloped strength as the time when j
ho vote was taken apporoached, while
he efforts of the opposition gradull!}*
became loss determined. After y
i rather large number of amendments t
r.tended to define the extent cf the
guarantee by the state of validity of
who receipts and to empower the
warehouse commissioner to take necessary
action to protect his personal r
bond and the state's resources, a c
spirited fight led by Senator Young to s
postpone a vote was made, but finally 1
defeated. The passage through third
reading quickly followed on a roll call *
vote. (
In its general outline, the McLaurin C
bill proposes, within the police powers
of the state, the establishment of "a j
cotton warehouse system for the state
of South Carolina," governed by a 1
"warehouse commissioner" with a sal- \
ary of $3,000 per year. The commissioner
is empowered to lease the
warehouses and settle upon terms by \
which private and corporate owned
warehouses may obtain benefit of the
state operation. The bill provides
that the system shall be self-sustaining,
and that all warehouses not
meeting operating expenses shall be
?i i mi .c- i _ t- ;i!i .. i i
eioKL'ci. i no suite s imonny to loss
is limited to $50,000 by amendment,
and the measure carries an appropriation
of $15,000 to put the system into
effect immediately after approval by
the governor.
Ancient Furnace Uncovered.
Cno of tho most interesting discoveries
by Egyptologists throws new
light on the relative origin of copper
and bronze in the Mediterranean countries.
At Ortu Commidue, alongside
some ancient copper mines of great
prehistoric age a foundry has boen uncovered
with all the furnaces for
smelting and molds for casting Just as
it was abandoned thousands of years
ago in the transition periods between !
the ages of stone and bronze. The j
methods then obtaining in the Sardin-:
lan foundry industry as here demon-;
strate4 were most ingenious.
ADVANCE MOVEMENT
OF GERMAN ARMY
HAS MET WITH RESISTANCE TOWARD
THE COAST ARTILLERY.
AT A VERY "CRITICAL STAGE
Attempt Advance of German Forces
Along the of Relghtm and
Northern France, Has Reached the
Crisis.
London, Oct. 19.?The attempted
advance of the German forces along
the coast of Belgium and northern
Prance, apparently with the aim of
?ef tlKlicViir* cr tVinwonUTrto
vMV.ii?k?vf* 1 4*1 XJULliail
channel ports so they may menace
England h&fc i'dachcd a critical point.
The extreme western fighting line
io\v reaches from Armentieres
hrough Roulers to Nieuport, on the
oast half way between Ostcnd and
Dunkirk, according to the French oficial
announcement today. German
icavy artillery has bombarded the
ront from Nieuport to Vladslo, which
s about ten miles from the coast.
The forces of the allies also have J
nade progress eastward from a point!
outh of Armentieres toward Lille on i
line riming roughly to Arras. The '
eport tells of house to house fighting j
n which the allies are advancing. The!
attle has raged around Arras with- !
ut respite for ten days and on the j
mrt of the allies' troops, "with a per- i
everance and a spirit which never
or a moment has been relaxed.
The German official report covers
hese operations more tersely. It says
he attacks west and northwest of
iille have been repulsed with heavy
dssgs to the allies.
Situation Still Clouded.
The situation is still much in the
ark. English and French papers
ublished from their side. From the
Jerman point of view it is possible
he Germans have improved their poition
and with the forces that besieg
d Antwerp and reinforcements from
oast another sweeping movement.
In this field of action it appears
nevitable that there soon must be
ome decisive result. The country's
atness seems to have made it impos
ible for the two armies to entrench
nd face each other without importnt
change in position for weeks as
hey have done across northern
'ranee.
Flee From Homes f'
German official reports say ike txdus
from Ostend is being repeatecfin
he flight of inhabitants from Dunirk
and Boulogne.
Confirmation of this assertion \fias j
ot been received here, but it is
'holly possible the proximity of the
' , (i
lermans has created a panic at those
orts.
Great battles continue in the eastrn
theatre between the Russian and
he Austro-German forces. Reports
mm both sides are brief and contraictory.
Petrograd claims the Rusians
have won partial success in'secre
fighting before Warsaw and
Tzemysl. Vienna declares the Ausro-Gcrman
armies have made adances
in both regions and that the
Russian casulties at Przemyr.l number
40,000.
The Third Act.
The present advance of the Gernans
along the Belgian and French
oast is looked upon by military obervers
as the third act of the Euopean
war in the western theatre.
The first act was the German atempt
to sweep upon Paris with the
apture of the French capital as the
:limax of the advance.
The second act was the allies' offensive,
assumed after Gen. von Kluck
lad stretched his army on the Gernan
west wing over a longer line of
lomrnunication than he could hold,
rhe allied army pressed the Germans
Dack, compelling the entire line to recede
to maintain an unbroken front
and a possible line of retreat. ,
Watchful Waiting.
These two words, taken from President
Wilson's own definition of his
Mexican policy, furnished the text for
innumerable attacks, sometimes angry
sometimes witty, and generally reckless,
by those advocates of a "do some
thing'' policy, who are not accustomed
to count the cost?to others.
This generation of Americans has
no personal knowledge of the meaning
of war on a large scale. The impres
sivo spectacle of Europe in combat
has hrul an effect 0:1 tho public mind
that it never would have gained from
histories or from tales of grandfathers.
>
The President, unmoved by clamor,
lias adhered to "watchful waiting.'
So far vve have avoided war. It may
be that "watchful waiting" will sec
the possibility of it between Mexicc
and ourselves finally pass. At least
it is a policy that will not precipitate
that great disaster?NTew York Herald
(lnd.)
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DOLLAR S rn
TO-DAY | III
ni sun np nrnitmn i
r? ui- utliWANb
MET WITH FAILURE
THE GAINS IF ANY AT ALL SEEM
ED TO BE WITH THE ALLIED
ARMIES.
TRIES LEFT WING :
(
Germany Thought to Strike Crushing '
Blow Early Last Week But Met 1
With Failure,?Very Little Change '
in Positions of Great Armies. ,
Keeping up with the progress of the 1
European war as it appeared toward '
the latter part of last week, the only J
thing of importance that had taken 1
place for all this long hard fighting, 1
was the fall of Antwerp. This gave 1
the Germans some advantages aver <
England as was well known at the <
time, though so far nothing has beer, i
reaped from the advantage. 1
The positions of the .contesting arm- 1
ies in Northern France remained i
practically the same. The long hard <
struggle was still being piiaionged. ?
The great German plan to hold the
department of Pas de Calias and deliver
a crushing blow to the allies'
left wing failed -thus far.
The German army which extended
from Turcoing to Armentieres and
was forced from its position recently
again met with heavy defeat and
was beaten hack northward.
ihe battle which had been raging
at intervals near Arras blazed out
again and once more forced the Germans
back to the east and north. The
German losses are said to be heavy.
One force, which advanced from the
northeast on Bailleul (department of
the north, near the Belgian frontier,)
had to turn tail and as long ago as
last Wednesday its columns were
beating a heavy retreat to Ypes.
Ypes was occupied by a moderate
detachment of German cavalry and infantry,
but if they had not yet evacuated
it they had to do so in tho next
few hours as their position was untenable
without very large reinforcements.
M!Qfl!R BATTLEnt
A no DDI AUPi
ur HIIIUI LHI1L
DESCRIBED BY EYEWITNESS
WITH ARMIES IN FRANCE.
The official war information bureau
has issued the narrative of an eyewitness
from the headquarters of the
British army in France. The story,
dated October 13, follows: in part:
"From Friday, the 9th of October,
until Monday, the 12th, so little occurred
that a narrative of the events
' can be given in a few words. There
has been the usual sprodic shelling of
our trenches, which has resulted in
but little harm, so well dug in arc our
men, and on the night of the 10th the
) Germans made a fresh assault supported
by artillery fire, against the
point which has all along attracted
most of their attention. The attempt
' ? 1.1.. : i
was again a cu&u.v mi-ju'.
"Details have been received of an
' encounter in midair. One of our aviators
on a fast scoijtinc monooiane
n
ti who thinks he 1
i)5 the man irtftoif
?-3&cinii *
ranched the Knocker from bis da
id cannot hear opportunity k
fi monejt In the bank at*
or Opportunity- Come
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1 KIT UTERIS? WD 01 TI
> %! 1 ^ r
mram xo jmw&
i iwwj mi ttib J
r money now ? youi5 KEE
/our money in the Bank a !
and ?>2vv'ira??\ &y
oy\ \ count. The final ^cor
a s$>leti<di<c3 star*: if the t*i
lso*Ran T hlrjj.
HAVE THE MONEY? WE HAVE T>
5dM?032as
118 lili
sighted a hostile machine. He had two
rifles fixed one on either side iif his
engine, and he at once gave chase but
lost sight of his opponent amongst
the clouds. Soon, however, another
machine hove ijito view, which turned
out to be a German Otto biplane, a
type of machine which is not nearly
us fast as ours. Our oflicer once again
started in pursuit. He knew owing
to the position of th? propeller of the
hostile machine he could not be fired
at when astern of his opponent at six
ty yards range, lie fired one rifle with
aut apparent result. Then as his pace
was carrying him ahead of his quarry
he turned around, and again coming
to about the same distance behind,
emptied his magazine at the German.
"The latter hegan at once to descend
as if he or his machine were ,
but and shutting off his engine and
volplaning to free his hands, the pur- .
suer recharged his magazine. Unfor- .
tunately it jammed but he managed j:
to insert four cartridges and to fire |
them at his descending opponent, who
disappeared into a cloud bank with
dramatic suddenness. When the British
officer emerged below the clouds
tie could see no sign of the othei\ He
therefore climbed to an altitude of
some 7,000 feet and came to the conclusion
that the Gei-man must have
come to earth on the French lines.
"The French airmen too have been
very successful during the last three
clays, having dropped several tombs
amongst the German cavalry and
caused considerable losses and disorder,
and having by similar means silenced
a battery of field Howitzers.
"The German anti-aircraft guns recently
have been unusually active, but
so far they have not had much effect.
"A striking feature of our lines is
that it consists really of a series of
trenches not all placed along side each
other but some more advanced than
others and many facing in different
directions."
nun ei/v on me
IWU GIM riLUlU
IN DARING FIGHT
THE GERMAN AIRSHIP BROUGHT
TO EARTH BY FRENCH BIPLANE.
-i * I
j AEROPLANES 10 VALUABLE I
Machine Gun on the French Flyer
Put the German Airship Out of Business
Causing it* to Crash to Earth.
No part of the news concerning' the
European war is of more interest than
accounts of lights in the air between
the air craft of the warring nations.
Occasionally come stories which are
thrilling to think about.
The activity of the German aeroplanes
over Paris has brought up a
general discussion of the value of
these machines in warfare and a re
I
cital of thrilling aerial duels between
French and German machines. One
French corps commander is quoted as
saying that in his opinion a single
aeroplane was as valuable as a division
of cavalry.
Aeroplanes are of greatest service
in preventing surprises and few important
movements of troops have
been made which have not been
Imi.ii?lnl#gUiBUMiLitfThii>i WIJH | lyilif irmiUHUi
fuss no chants I
f urn? in the H
9-t-CM 0?0?? ? ? L|i|
tt, hi# catv with , gl
'tun /lu dot# jummonlf |
i Herbert Hbufmon.. Pi 1
ray* has the lakh- | j
in talk it overt | .
j J&anti I >4
HE DEPOSITS l1Aa~* | I
? a
m | i i
usorld,. I | jj
D il worse laicr oil S
LitUc a time. Y
^tcmailic ^Aviny. |
makc^ no S I
inbh prove? yovt \ 1
rjvr KA UF MAN* \\ (mLJ
IE BARK | 1
0pm an |' 1
Account II
i It ISLlJ
* *#? ?? wraMflcfuraBWWrmPI'i
promotly reported by aerial scouts be- flj
fore their completion. I
A daring encounter took place re- I
cently between a German monoplane
and a French biplane during a criti- I
cal moment in an important maneuv^.J
er north of the Oise. The German ?
machine was seen sailing over the
French tines just befbrv a strong de- ^1
tachment of troops was to start on a II
movement to the north. For the sue- W
cess of this maneuver it was vital that '
this sentry of the air be removed^ I
and a French biplane undertook th3\ 1
responsibility. IS
The French machine rose from the 11
ground abruptly and in rapid circles |J
gained an altitude greater than that M
of the Germans; bvrt even this advan- rl
tage was not suffiWcnt to drive the cl
scout away. In ar daring: dive in which^tTH
he braved a heavy fire from th<WCol
French lines, the German descended
to a height of 1,000 yard3 and skill-- H
fully avoiding the French machine *9
started to drive for the Ger- fl
man lines. The Frenchman seemed 9
to have the advantage in speed, whiel) 9
has not often been the case in aerA- 9
plane encounters in this war. Fori I
awhile the German was successful in\M
keeping out of reach, but the biplane ll
continuing its flight at a considerable i'.fl
height, finally attained an advantage
eous position. 9
Then there could be heard the quick 9
and sharp imports of a machine gum., 9
on the French flier. The monoplane vjl
floated for a few moments as if the ^ ?
pilot had lost controle and then flut- Jfl
teving like a wounded bird on the
wing, started an oblique descent which JH
ended in its crashing to :he earth. ^'9
SUBSCRIBERS I'I.EASE HEED vjj
This is the time of the year when cH
the tobacco crop is being harvested,\9
and placed on the market. It is the 't9
time of the year when this paper expects
the farmers who read it and j9
have the funds from the year's crop
to come in and pay us up for the
dues. It is not even necessary thaty 1
they call, if they do not feel so dis-J I
posed. It is easy to write a check or I I
get a postoflice money order and maiK' I
us the money. For each and every | I
remittance received through the mail!
a receipt made out in prop^^f^mi 1
will be mailed back. We have spent?
a good deal and spared no effort thicjn I
year to give the news to the people* I
just as it is without fear or favor J I
The fact has been called to the attend I
tion of our readers time and time)
again that we needed what, is cominfel I
to us for past due subscriptions.JJU
V/hile many have heeded the call anwHJ
sent in the money or called and pai^lM
it at the office, there are many otheiwH
who have so far neglected it. As i^jftH
above indicated, we have patientl'il^H
waited until now the marketing ofcjM
the crops of 1914 has begun, and wfi^B
must now ask again those who oWj|^|
the paper send in what is due. ThelJ^H
is no use in waiting. The money i\j|B
needed now. "H
Chivalry Has Trials. ifl
Chivalry exacts a certain Indulgenc^^H
of feminine whims from the male
but there is a limit, according
Kansas City man who, after getting
divorce from bis wife, asked the couu^H
to restore her maiden name, lie sayf^H
bis wife twice attempted suicide,
ed with a wiio-murderer in Jail
now is \ laying baseball with a "blooA^U
er girls" to&iu in Oklahoma. Tt ia no^H
to be wondered at that the Judgo
grctted his ta&btlit} to comply w.b
the request ?'Louisville Times. g<^B
I
\