Historical Newspapers of South Carolina

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COTTON BULLS WIED. 4'KIMK TO Al>\ \M K PHICK Of COTTON Attorney General Wickcrsltani Be? gin* Henmrkablr i*os?v m ion Against Brown and Ha>nc?It is a -M-tH'me to Break the Price of Cot Ion in Iutere*t of Manufacturers. New York. April 18.-?There will be Started In New Y.?rk tomorrow a federal investigation without prece? dent in this country. The attorney general of the i ntted States has or? dered an inquiry into the gigantic bull movement in cotton, with which the names of James A. Patten of Chicago. Frank B. Hayno, William P. Brown of New Orleans and Eu? gene Scales of Texas have ^been pop? ularly connected. Hayne and Brown both appear as defendants in the proceedings, hut it could not be learned whether Mr. Patten will be subpoenaed at Chica? go to come here and testify. He has been generally credited, however, with being the financial genius of the pool, and In recent Interviews he has ?outlined his bullish position and his determination to fight the supposed beer clique, which has been reshlp plng cotton to this country from England In endeavor* to break the market. The bull movement has reached such a stage, however, that there are rumors of a possible May -corner In the New York market. Never before has the government brought similar action against any pool operation In the market BjSJ eith? er the long or the short side. Sub poenas were Issued at the direction of Mr. Wlckersham. commanding a dosen or more prominent New York cotton brokers to appear before a special federal grand Jury tomorrow to testify In the matter of the United States against Frank B. Hayne and William P. Brown." The subpoenas demand the submis? sion to the special grand Jury of all records, papers, letters, memoranda and an agreement dated February 26, last by Mr. Hayne. Brown and oth? ers. The agreement, the subpoenas state, was for the purchase of 150,000 bales of cotton for delivery In New Tork during the months of May and July. Inclusive, at certain prices and under certain conditions. The fixing of the price and conditions, the gov? ernment charges, was a violation of tew. Announcement of the government's action was followed by a very excited break in prices on the New York cot? ton exchange which at one time bade fair to result in almost as great a de? monstration as that noted last Jan? uary. Early in April the market had a very severe decline urder heavy liquidation and at that time there were rumors circulating that the bulls were abandoning their position, but a considerable recovery In prices since then suggested that the selling had been largely In the way of out? side liquidation and during the past week or 10 days there have been re? newed rumors of an Impending equeese. The position In the near months, at any rate, has led to heavy shipments of cotton to New York for delivery on contracts and the arrival reported today were In excess of 23, 000 bales. Including nearly 14,000 fr^m I.lserponi, while the stock of ?n available for delivery on con? tract has already Increased from about 87.000 bales to 120,000. Even so. It has been apprehended In local 1 Indes that th* amount of cotton ar? riving here from th? South and abroad would not completely satisfy the con? tract held by bull leaders, which has been estimated at about 400.000 bales, and there has probably been som*? scattered buying on the unex? pectedly successful Issue of the bull campaign. The selling which followed today's threat of possible legal obstacles to bullish plans, probably represented In a measure, the liquidation of this so d trailing Interest. In addition, QM re was undoubtedly some selling for the account of professional trad? ers on the idea that legal action might force tho liquidation of the hull holdings. Hut usually close stu? dents of trading around the local ring expressed the opinion after the close that the bull leaders themselves hail Increased rather than reduced their contraet holdings and the market ruled considerably steadier In the late trading and closed at ? loss of only from 7 to 1!? points for the day. When the BjSWI of the govern? ment's deeMon at llrst was circulat? ed, the mar? kt been nig very weak and unsettled and inside of an hour May gotton sold at I I."?I or 30 points below the high k ve| of the day and about 4."? points under the high prices of last week. May Hosing at 14.?1 hid. loiter months sympathized in the in-ir months' br ak, b it the mar? ket was spotty and confined to tbe old erop and aside from the excito* in' let with refereii? e to Mr; and July thero was MS particular feature. Wall fie. r u.is stirred by the news and It was widely dlgOSpBtd also In hanking circles. Much Interest Will be taken in the hearing by tho finan? cial dlstrb ts and the stock exchange, as well as by the entire cotton trade. ALARMS MILL MEN. AflMC'k on Cotton Rulls Causes Some Misgivings. Atlanta, Ga.. April 18.?Southern OOttOfl mill operators are alarmed ov?>r the action instituted in New York by the federal authorities against the leaders of the bull cam? paign and profess to see in it a cov? ert effort on the part of certain New York OOttOfl brokers to get relief from contracts with mills. They as? sert that the government unwitting? ly is eooperatlng with the bears In another and what they fear will prove a most disastrous ' raid." Many mill men in this section tonight wired congressmen and 26 senators appeal? ing to them to institute an investiga? tion with a view to uncovering the "conspiracy" which they declare ap? pears to exist. Kuller E. Callaway of Lu Grange. Ga., president of mills at Conyer and Manchester, Ga., and treasurer of three large mills at La Grange, to? night gave to the Associated Press the following statement: "I am an officer of several mills that have bought cotton on the New York exchange at a lower price than it can be bought in the South. We intend to take up and manufacture this cotton this summer. It occurs to me that undoubtedly Attorney General Wlckersham was unwittingly inspired by bears who have sold what they do not own, thereby depressing the cotton market at the expense of the farmers and demoralizing the market for cotton goods. "A great many mills have bought cotton on the New York cotton ex? change cheaper than it is selling In the South and Intend demanding the cotton. The bears hope by this at? tack to scare the mills out of this legitimate trade and further demor? alize the cotton and cotton goods markets. In my opinion this attack will prove a boomerang for the bears, as it only accentuates the shortness of the last cotton crop and betrays the predicament they are in through having sold something they did not own. "I can not believe that the more responsible members of the New York cotton exchange are behind this movement as It questioned the right of mills to buy contracts on the cot? ton exchange with the expectation of receiving the cotton, thereby deny? ing the exchanges reason for exist? ence." CONSPIRACY TO CORNER COT? TON. Attorney General Thinks He Has Proof of Illegal Combine to Re? strain Trade in Staple. Washington, April 18.?Attorney General Wlckersham has taken up the cudgels against the pool in raw cotton which, It is alleged, already has resulted in an Increased price of that staple and a curtailment of the out? put by manufacturers and conse? quently loss of employment by mill hands. The attorney general has given in? structions to have the matter investi? gated by the grand jury in the south? ern division of New York and sub? poenas were Issued there today which the officials of tho department of Jus? tice say marks the commencement of a thorough investigation by the government of the alleged pool. Announcement of the determina? tion to proceed against the pool was coincident with the publication of the dispatches from New York that Mr. Wlckersham had ordered an inquiry by the special grand jury as to the terms and conditions of an agree? ment for tho purchase and delivery of 150,000 bales of cotton in a pro ooedtag against New Orleans cotton brokers. William S. Kenyon, assistant to the attorney general. In charge of trust prosecutions in the department, had a conference with Mr. Wlckersham it N'. w York over the telephone ton. hing the new move made today and subsequently made the following tnnouneemeat on the subject: "In Connection with the discussion over the prevalent high prices of 1.1 and other commodities, tho at 'eritli?n of the attorney general has been directed to the alleged existence of certain pools and combinations op. rating corners In various commo? dities and their effect on interstate commerce. "Information was laid before him Indicating the fact that ? combination has been formed between | number Of operators to buy up all of the re? maining unused raw cotton produced In the United States during the crop rear Ittt-ltlt. it has been charg? ed that as the result of the opera? tions of this pool the price of this cotton has already been advanced BO largely in eacsea of the normal price that the OOttOfl manufacturers had gn atiy redut ed their output rather than buy at this exorbitant price, throwing out of employment upward or |8 per COBl of the cotton mil] ope? ratives of the United States, thus r e? sulting in the monopolisation of the - ntlre Visible supply of raw cotton In the market and the diminution of tho commerce In cotton goods, "it is anticipated that Interesting disclosures will be made as to the composition and management of this combination." SENATOR ALDRICH TO RETIRE. Rhode Islander Will Not Stand For Re-election. Washington, April 18.?Senator Aldrlch authorized the announce? ment tonight that he will not be a candidate for re-election to the Sen? ate, and that he will positively retire at the expiration of his present term, on March 3, 1911. This announcement was made to a representative of the Associated Press, who met the Senator upon his return to Washington, from Rhode Island, where he had been in consul? tation with his political associates. "I have decided not to be a candi? date again," said the Senator. "Since something of my plans has leaked out already, I would be glad to have you make that statement. I had not intended to say anything for a few days, as I would have preferred to have advised my friends in Washing? ton of my plans personally, but I suppose it Is just as well as it is," Mr. Aldrlch talked freely of his de? termination to retire. Ill health alone dictated his decision. During his service in the civil war he had a long siege of typhoid fever, and as a result of that Illness he has suffered periodically with intestinal troubles These discomforts have manifested themselves when he has worked par? ticularly hard, and have caused him considerable worry. One week ago the Senator went to New York, where he consulted phy? sicians. They were insistent that he rid himself of the more exacting of his burdens and devote a large share of his time to outdoor exercise. He could see no way to lead such a life if he accepted another term of six years in the Senate, and, there? fore, he desired to retire. GEN. BO YD TO RUN, Announces Ho Will be a Candidate For Re-election. Columbia, April 18.?In a state? ment, issu( d today, Adjutant General J. C. Boyd announces that he will be a candidate for re-election. Three weeks ago Gen. Boyd announced that he would not run again. He now claims that this announcement was made because his assistant, Col. W. T. Brock, led him to believe that he could not be re-elected, and that he has since visited Charleston and Or? angeburg and talked with his friends there, and believes that he can win again. He Indulges in some picture? sque and characteristic language as to Col. Brock, who is absent in Wlnnsboro, engaged in inspection work, and could not be seen in re? gard to the matter. It is generally understood that Col. Brock, who has done a great deal of valuable work in promoting the efficiency of the mi? litia, will be a candidate for Adjutant General this summer. There was some hail at Rembert Monday afternoon, but no damage was done. Rev. Mark S. Beckham, pastor of the Christian church, spent Sunday in,Columbia, preaching in the Christ? ian church there. IT's appointment here was filled by Mr. W. M. Mason, of Columbia. Every family and especially those who reside in the country should be provided at all times with a bottle o* Chamberlain' Liniment. There is no telling when it may be wanted in cases of an accident or emergency. It is most excellent in all cases of rheumatism, sprains and bruises. Sold by W. W. Sibert. Too bad that his heart should be playing a joke on poor old Mark Twain. Next thing the country will have to form a Society for Helping Rich Men to (let Rid of Their Wealth. Let Us Show You A look over our immense stocks of highgrade furniture will con vince you undoubtedly that we have undeniable proof in our fa \?<i of giving furniture buyers the most value lor money spent. ( (uality A I and sensible prices our motto. 1 or outfitting any pait ol the home, you'll find it best to shop lu re. Witliorspoon Bros. Furniture Co. BRYAN HOME AGAIN. DEMOCRATIC LEADER LANDED AT NEW YORK YESTERDAY. Bpoke of Trip Through South Amer? ica, But Was Silent Regarding Po? litical Situation in United States Thinks Postion on Another Cnndl dacy Understood?Heard of Dr. Cook Frequently. _ i New York, April IS.?William Jen? nings Bryan came home today. He reached New York full of enthusiasm about the wonders of South America, 1 but with nothing to say about the State of affairs, politically, in this country. Mr. Bryan left Lincoln, Neb., on ovember 13, spending some time in the Southern States. Thence he went to Havana, Jamaica, Panama, Peru, Bolivia, Chile, Argentina and Brazil, returning by way of Porto P.lco. "The object of my trip," he said, was the study of economic and so lologlcal conditions in South Ameri? ca." "What are the chances of the Dem? ocratic party?" he was asked. "Good. Always good." Mr. Bryan was asked whether he would consider another candidacy for the Presidency. "I have said all I am going to say on that subject," he replied emphati? cally. "I think my postion is under? stood perfectly." He added he hardly thought it nec? essary to deny stories that he was to become a candidate for the United States Senate, and that he was going o embrace the prohibition move? ment. '*Dl& you hear of Dr. Cook?' "Yes, everywhere I went In South America; the papers said he was there. I met a Texan who said Dr. Cook was a Democrat, and asked me if I did not hope he had discovered the North Pole. I told him that, while I could express no opinion on the controversy between Peary and Dr. Cook, I thought, as a general proposition, that a Democrat would be more likely to discover the Pole than a Republican, because the Dem? ocrats had been out in the cold a long time and are used to it." He said that the great possibilities of South America impressed him more than any other thing. He thought South America could furnish homes for 25,000,000 to 50,000,000 Immigrants in the next fifty years. He said the chances for American capital w *e great, but that he would not advise the poor man to go there from here, as the opportunities here are as great. The sentiment towards the United States in South America Is excellent and suspicions and misunderstand? ings, he said, are disappearing. Mr. Bryan will leave for Washing? ton late tonight and tomorrow will start for Lincoln. Mr. Bryan paid a brief visit to Mayor Gaynor late this afternoon at the mayor's office. Asked if he thought Mayor Gay? nor might he a candidate for the Presidency in 1912, Mr. Bryan said he did not care to go so deep into the future. The largest line of Diamonds, Watches, Clocks, Silvervvear and Art Goods ever shown in Sumter, also full line of Tapestry and Hand Painted China, Ivory Screens, Fire Screens and Track Wood Furniture. A special in? vitation to everybody to come and look, always glad to show you whether you buy or not. Special Sale on Watches Hand Engraving. Watch and Jewelry Repairing. Prices very reasonable. I. Murray Hair, Carolina Hardware Stand. 18 N. Main Street. Sumter, S. C. The Pinch of Prosperity Prosperity is fine, but how it pinches the pocket book that pays the household expenses ! Neither the Pinch of Prosperity or the Stress of Hard Times embarasses the man as much who runs a check? ing account as the one who does not. Try it and see by opening a checking account with us. 15he Bank of Sumter. DEPOSIT With First National Bank THAT'S ALL. We Want the Attention Ob EVERY LOVER OF HORSE-FLESH, EVERY PERSON INTERESTED IN CHICKENS, EVERY MAN, WOMAN OR CHILD INTERESTED IN THE SANITA. TION OF THEIR SURROUNDINGS. We are the direct representatives of Dr. Hess & Clark, ..-of Ashland, Ohio, manufacturers of the CELEBRATED STOCK FOOD, POULTRY PANACEA, INSTANT LOUSE KILLER, , DR. HESS' DIP AND DISINFECTANT, HEALING POWDER, WORM POWDERS FOR STOCK AND HOG, COUGH AND DISTEMPER CURE. This is the season for general cleaning up. Give the animal his regular food with some of Dr. Hess' Remedies and watch the result. It you are not satisfied, you have not made a bad purchase, for every package is guaranteed or Your Money Back. An Egg per Day ?Try to get this from your hens. The only discovery on the mar? ket today to stimulate laying is DR. HESS' PANACEA. Sanitation?Kill the Germ. You can do it with Dr. Hess' Dip and Disinfectant and Sprayer. A quart of this makes a half barrel of the finest disinfectant known to science, Taint your horse's hoof with Campbell's Morse Foot Remedy. Keeps off scratches, sand-gravel, makes the hoof grow soft and pliable, strengthens the frog. These remedies cost so little in comparison with the net result, that it is up to you. PHONE 85.