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SUMTER WATCHMAN', EaUU Uehed April, 1?I0, "Be Just and Fear not?Let an itne ends 3 Alms't at tie thy Co ?n try's, Thj God's and Troth's." THE TRUE SOUTHRON, Established Jone, 1M?. Consolidated Aug. 3,1881. SUMTER, S. C, WEDNESDAY, JANUARY 7, 1914. Vol. XXXVII. No. 39. YEAR SHOWS PROSPERITY. ilV.4itt.200 INVI ST 1:1> IX NKW KN TKRPHISF.S IX STATK. Clis. teuton ( ?nuN Ftrst^ Spartanhurg I H*coiut?South Carolina's Record Mtfm* 4 4- Xrw Concerns During Fas* Year. Columbia. Jan. 1.?There was In? vested In Houth Carolina last year 110.416.200 in the 442 new enterprises which w. re <rr|.ant*e<l and chartered during the year, according to figures compiled from the annual report of Heeretary of state R. M. McCown. Charleston county heads the list la the amount of money invested in new enterprise* her share being $1,379,500 in trSJ 60 new enterprises, which also heads the list in the number of new buHlaess concerns. This is striking evidence of the marvellous growth whlef* Charleston Is enjoying. Sparenburg eounty stands second In the Ha* In amount of capital invest? ed, her sha'e being $1.360.300 in 23 new enterprises. Marlboro county comes third with $1.282.000 In the ?ven dosen new concerns which went into business there In 1900. Itichland county comes fourth with $980.400 In 41 new enterprlnea Irf Abbevllle four new enterprises chartered during the year had an ag grsgfts capital of $11,000; Alken, six with a capital of $37,000; Anderson. 1$. with a capital of $216,000; Bam? berg, four, with a capital of $7,200; Barmrell. nine, with a capital of $80, ?09; Beaufort, two, with a capital of $30.000; Berkeley, one, with a capi? tal of $181.800; Chester four, with a capital of $35,000; Chesterlisld. It. with a capital of $^2,000; Clarendon, ?lne with a capital of $36,200; Col? let- n. nine, with a capital of $83.000; I>arllngton. nine, with a capital of $135.000; Dillon, four, with a capital of $11,000; Dorchester, four, with a capital of $19,6(0; Fairfleld, four, with a capital of 1116.600; Florence. 11, with a capital cf $162,000; George? town, 10. with a capital of $385.000; Oreenvllls, 27, wl h a capital of $461. 500; Greenwood. 11, with a capital of r, 10, With a cap? ital tit $78,000; Jasper, two. with a capital of $20,000; Kerehaw eight, with a capital of $39.000; Lancaster, tlx. with a capital of $89,000; Lau rans. five, with a capital cf $660,500; I-oh. four, with a capital of $26.500; iLnxington, seven, with a capital of 1149.100; Marlon, five, with a capital of $164.000; Newberry. three, with a capital of $11,000; Orangeburg, eight, with a capital of $24.700; Pick? ers, two. with a capital >f $1 1.400; Bimter. 24. with a capital of $445.500; Union, eight, with a capltt.l of $65. 04)0; iWtlllamshurg. 14. with a capital of $102,000; York, 11. with a capital Of $567.100. There was no new enterprises char? tered in the counties of Calhoun. BMgetleld and Oconee during the past yn.r. Heeretary of State R M. McCown finished work on his repor: yesterday sn 1 it went to the hands of the print? er today and will be ready for the general assembly when that body con? venes one week from next Tuesday. ( KUI I) MAN Kills WIFF. II. I U Crowd at Bay and Brings Ho lUUnce to Cloeo With Suicide After f.llllug. Augusta. On , Jan. 1.?Claude Jor? dan aged 4 3 yeurs. a member of one of 'he most prominent families of Co tumid* county, th s afternoon killed himself, after having shot and proha bly killed a negro, shot a white mar. through the neek. killed his wife snd terrorised the entire town <>f (Irove town, 14 mllea from here, nearly five hours, by threatening; to kill any on?e who came near enough. Jordsn has twice been In a sani? tarium for insanity and it appears that his mental halance gave way this1 ?mining ahout || >>|..ek as a result I *f hla bavins shot a negro, M i I <5re*n, last night. It la generally helleved th it Q 4*001 tilted hut hi* body has Ml >?t been found A FIR5: AT FLORFNt I Morning Bluer Destroys Fur nltsarr Ston- of W. A Waters. Florence. Jun :i.?w. A. Wntersf furniture store, one of the largest III eastern (?rohns. burned th s morn? ing Kire aas dtanwrod stiertl) llM Or midnight and prohntdy caught from the stove. The building with the stock waa p*Ys9*JanHy inatim <i TIm stuck was valued at uh..ut |tl,4>f4] atid the building at about $12,04?, The waa sitU?t? d at th.oner ot 1 ms und Durgim streets, BANKS HAVE PROSPEROUS YEAR dii> coon hisinfss during past YF.1r ax i) pkospkcth auk uiik.ii i for com? ing YEAH. None of Them Have Yet Taken Steps to Joint Now Banking- System? Semi-.innual Dividends Issued by Hanks on First?Savings Fund De? partments Did Good Business. The past year was a very prosper? ous year for the banks of the city. All of them did a fine business and report prospects bright for the New Year which is open before them. While all of the banks will at some I i time in the future take some action respecting the new banking system, I none of them have begun any steps yet with regard to changes which may be made. At the Bank of Sumter it was learn? ed that the past year had been more than usually successful und the out , look for the coming year was exceed? ingly good. The bank had, as usual, j issued $8,000 as its semi-annual di? vidends at four per cent on January t'rst. It was stated that the matter of ! joining the new federal banking sys ' tern had been considered, but the j bank would at present continue to op j etate under its state charter. It would , first observe the practical workings 'of the new system before it would take steps to join. In the Christmas Savings Fund de? partment the bank was much pleas? ed with the interest taken. During the past year there were four hon | dred and thirty-one depositors. Al? ready six hundred and twenty deposi? tors have signed up for the ensuing year, showing a fine Increase over last ' year. The City National Dank issued Us semi-annual dividends at four per cent Thursday amounting to $6,000. It I was state 1 that the bank had had an I especially fine yean The deposits I Were ver> much greater than on the ] previous year and prospects are .bright , for the snsulnf year. If ^^WaWi^ 'hundred and twenty depositors in the j Young Men's Saving Fund and $16,000 Iras issued to these subscribers on I Thursday. The number of subscrib? ers to this department is larger this year than last and the fund will be Considerably more than it was during the past year. A change to bo made this year is to run the department for fifty weeks instead of tlfty-two, as In the past, so that the checks can be Issued to depositors the week before Christmas, instead of on tho first, an in tho pas.. It was learned that the bank had taken no steps to Join the new bank ' Ing system yet, but this matter will probably be decided at a meeting of j the board of directors in the near fu? ture and the bank will probably jom tho new system at its annual meeting on the second Tuesday in January. Considerable interest has been tak? en in the crop contest inaugurated by the bank during the past year, i fact exceedingly gratifying to tho irstltu lon. The bank now has on deposit a quantity of good tobacco seed, which it will give away free to farmers of tho county who will call for it. The Commercial Savings Ban'x has only been in operation a few weeks but it has done a good business in that time and is steadily growing. The prospects at this time for a fine busi? ness during the coming year are ex? cellent and Sumter's newest banking Institution expects to make a record i for itself during tho year. Mr. It. A. j Itradham attended the meeting of ( bankers In ColumbU. on Thursday, but no action has been taktn towards joining the new bank system. The bank Is organizing a weekly Havings department, which It will have in readiness for subscribers in a short I tme, but whose details have not yet, been worked out. The Farmers Hank and Trust Com-' pany, as usual, gave a New Year pros- ( ent to Its stockholders of four per cent dividends .amounting to $4.800. This hank has not yet had time to consider' the matter of Joining the new bulk? ing system, hut will probably tak ? up the matter later. The Farmers Hank has organized a weekly savings fund department for Its patn.ns. Tho department wilt be { known Pg "The Heady Money Club" and its shares will |0 Jit twenty-five, fifty cents and one dollar. It will run for fifty works, tbe < becks being mail? ed |ej tho subscribers thu week be'ore Christmas. Th?< past year baa been the most satisfactory year which the hunk bus had In n number of years. The de? posit* sgCSSdsd past years and new patrons were added to the bunk dur? ing the pear. The prospects for the New Yea? have never Pern more TAKE im WESTERN TUP. CURRENCY COMMITTEE VISITS i WEST FOR STUDY OF BANK CENTERS. Houston and McAdoo Expect to Car? ry on Much of Business in Private Car?Carry With Them Fully 1 quipped Office Force. ~* ~ loj Washington, Jan. 1.?Preliminary steps taken for the long Western Jrlpi of the reserve bank organization com-; mittee indicate that the undertaking will be unique in the history of the government. The committee expects to have an office on wheels for more than a month and Secretaries Mc?doo and Houston will live aboard this car most of the time. They will go over the testimony taken In the 12 Western cities they are to visit and keep up with the mass of correspondence i warded from Washington, i Each secretary will take his "own I private secretary with him, and be ? sides there will be at least four ste ' nographers, a couple of messengers j and possibly a lawyer from the treas? ury department. This will make a little j army only surpassed in trips of "this sort by the "suite" that accompanies a president of the United States. The currency law put 1100,000 at (the disposal of the committee. By I making .use of a special car the com . mittee expects to make the trip more , cheaply than if compelled to use the j ordinary means of travel. The plan 1 contemplates the keeping of the rec 1 ords of the public hearings up to the minute. When Washington is reached > on the return trip it is hoped the rec I ords will be in such shape that al\ ' testimony can be laid before the fed? eral reserve board immediately after that body has been organized by the president. The reserve' board has the power to review the decision of th.e organisation committee, and It is der Mined that all facts Influencing the committee to its decisions he avail? able'when district lines and cities are announced. The committee will start its worl Monday with hearings m .New Yorl mtsu*?sJ?Ti isjsiu if i mil um m s?fi uss of the special oar on the trip to New York or on the advance to Bos? ton, which follows immediately. The office on wheels will not be occupied until the middle of the month, when the committee starts for Chicago and the West. ? i WANT NEW ENGLAND SERVE!'. Yankee Business Men Call for Fed? eral Reserve District. Boston, Jan. 1.?A vote in favor of making New England a federal re? serve district under the new curren? cy law and of organizing a federal reserve bank hero for all Now Eng? land was passed today by the direc? tors of the Chamber of Commerce. JUDGE SEASE ENDORSED. Spartanburg Man Rewmmendod for Supremo Court Vacancy. Spartanburg, Jan. 1.?The Spartan? burg delegation in the legislature, composed of Senator Howard B. Car? lisle and seven representatives, have endorsed Judge Thoraas S. Sease, of th? circuit court, a resident of this city, for the vacancy on the Supreme Court bench created by the appoint- i ment of Associate Justice C. A.1 Woods to the Federal District court bench by President Wilson. promising for the bank. First National Bank will consider the matter of joining the new bank system later. The matter has not been discussed yet, but the bank, of course, will Join, as it is a national bank. The hank issued its semi-annual dividends on the first, amounting to $1,000. The past year has been as success? ful as previous years, the earnings have been exceptionally good. The hank enters the New Year with bright prospects for another successful year.' The savings department of the bank has during the year been remarkably successful, the number of deposits and1 the depositors amounting to more loan ever before, the department be? ing the largest In the city. The Peoples' Bank has not yet taken steps to Join the new banking system, the matter being left for further con? sideration later on. The hank on the tlrst issued Its semi-unnual dividends of $2.000. as usual, I Miring the past year the Savings Fund Department sold 100 shares and paid out <>o the I list to its de? positors, The department has more subscribers and more shares this year than heretofore and Is expecting snother successful year. The past year has been a very suc pesaful one for the. Institution and business is expected to l.o as good during the prosenl year as it was last ?'GABE COMPANY SOLVENT. _? COUNSEL SAYS SUFFICIENT CASH FUNDS WILL BE AVAILABLE. Assetty Exceed the Debts Which Will bei Paid?Concern Should be Liquid, ated at Early D?te, Says Counsel in ! Statement. Charleston, Jan. 2.?That W. Gor? don McCabe '& Co., the cotton ex? porting firm, against which bank? ruptcy proceedings were instituted in the United States court here, will most probably liquidate at an early date, was the statement yesterday of Mr .Henry Buist, of Buist & Buist, counsel for McCabe & Co. Asked for a statement, Mr. Buist said: I "On the 24th of December rumors spread concerning the credit of this concern. As a consequence a bank in which the current funds of the firm wire kept asserted its lien against the funds and seized them on the 2Cth. This left McCabe & Co., without ready j cash and it becamo necessary to take I some steps, to meet the situation. This j was accomplished by having Messrs. ? Robertson Eppes, W. W. Smith and i Walker, Evans & Cogswell Company I file a petition in bankruptcy and re? quest the appointment of a receiver. The action of these gentlemen in tak? ing this step, which was done at the request of McCabe & Co., was of great assistance to the firm in working out its difficulties. "Messrs. John F. Maybank and R. O. Rhett were appointed receivers and took charge of the property of the firm. Messrs. Maybank and Rhett then made a thorough Inventory of the condition of the firm, and their report when filed will certainly show assets to be far in excess of legal lia? bilities. "The Arm has a very large amount of cotton that is readily salable and j should be liquidated at an early date, j The banks regard themselves as amply protected, but being desirous of assist? ing the firm in this crisis to realize on their assets without less to the mem? bers, an arrangement has been enter? ed into -whereby ample cash funds 'Wt&e muce' n^rfni^ tnirttfrV pose. Upon the court being shown that the firm is solvent, the petition j In bankruptcy will be automatically ! dismissed, and the method agreed up I on by the parties in interest as being {?best will be used in continuing the I business and paying off all ind^bted i ness. I "The creditor banks and their law - j yers here all handled this trouble | some proposition In the broadest and j most liberal spirit. Many of the lead I ing cotton exportexs of this city, Nor 1 folg and Wilmington have freely of i fered whatever aid was necessary, all j Interests uniting to save uod not de i stroy. "McCabe & Co., wish to express j their thanks to their many friends ? with whom they had accounts for the j good will shown to the firm in its mo? ments of embarrassment and take t pleasure in assuring them that their ! conlidence has not been misplaced." j SUFFRAGETTES OFF ON HIKE. ? Gen. Jones and Her Rand Leave on Tramp From New York to Albany. - New Yorl Jan. 1.?"General'4 ; Rosalie Jones, the suffragist leader, j veteran of marches to Washington 'and Albany, marshaled her forces at New York's northernmost boundary ! early today and started on another ! foot journey to the State capital. ?She plans to make the 175 mile trip, as the roads wind, in seven days, or at the rate of 26 miles a day. The, previous march a year ago occupied two weeks. On her arrival she will deliver a message to Gov. Glynn, as' she did to Former Gov. Bulser, asking his support for woman* suffrage. The suffrage army, which includes such veterans as "Colonel" Ida Craft, "Corporal" Martha Klatschken and Mrs. Olive Schultz, the "official scout," will journey this time up the west bank of the Hudson, crossing the river today at Dobbs Ferry. POT AT<) IM PORT AT IONS. Regulation* to (.mud Against Dis? eased Tubers Laid Down. Washington, Jan. 1.?Regulations restricting the importation of foreign potatoes Into ths United States to gllard against potato diseases were laid down today by Secretary Hous? ton, of tho department of agriculture, in the form of an official decision. Provisions requiring importers to no? tify the department of all shipments from countries not under the abso? lute Quarantine ban, and the en? forcement of a rigid Inspection upon entry by tho department's agents are contained in the order. THRILL GIVEN WALL STREET. MEMBERS OF MORGAN AND BA KER HOUSES QUIT OTHER COMPANIES. Banking Institutions Will Cut Off Interlocking Directorates?Head of the Moneyed Power Announces that People Now Demand Less Intimate Relationship Between Corporations. Untermeyer Not Impressed. New York, Jan. 2.?The withdrawal today of J. P. Morgan & Co., from more than a score of great corpora? tions and the statement shortly after? wards by George F. Baker, an almost equally dominant figure in American finance, that he soon would take sim? ilar action, gave Wall street generally I a thrill that almost brought trading ! on the stock exchange to a halt. While it probably is true that many I prominent bankers had informatio- i '. foreshadowing this momentous mo 5 , toward ending interlocking dir ? ft torates, the public and brokers i no advance knowledge of what j j taking place in the inne^ count ? f the greatest of all American 0 es ' of finance. Wherever telephc 00 .nd ' ticker flashed the news ab ^ the , street, groups of men gather > dis? cuss what was the all-absor. topic. Mr. Morgan, departing from hi3 ! firm's traditional 'policy of silence, I made a public statement announcing i the withdrawal of five members of J. ? P. Morgan & Co., from directorships ! in 27 corporations and the intention j to withdraw from more. I J. P. Morgan made this statement: j "The necessity of attending many j board meetings has been so serious a 1 burden upon our time that we have , long wished to withdraw from the dl ! rectorates of many corporations. Most of these directorships we have accept? ed with reluctance and only because we felt constrained to keep In touch \ with properties which we had reor , ganlzed or whose securities we had recommended to the public, both here and abroad. "An apparent change in public sen ttment \ln regard to . directorships seems now*o warrant us in seeking to ! resign from some of these connections, j Indeed, it may be, in view of the ' change in sentiment upon the subject, j that we shall be In a better position j to serve properties and their se ? curity holders if we are not direct \ ors. We have already resigned from j the companies mentioned and we ex i pect from time tc time to withdraw ? from other boards upon which we feel there is no special obligation to j remain." "By withdrawing from these cor ; porations, J. P. Morgan & Co. has sev? ered the connections that have held together many of the nation's most J important corporations in a commu ! nlty of interests which has been as? sailed within and without congress. The house of Morgan feels that it has kept within the law in all of Its com I plex operations and that no legal ne ! cessity or threatened complications j with the authorities at Washington ? has made it necessary to adopt a j sweeping change ir. policy announced I today." Mr. Baker announced his intention to withdraw In response to a ques ! tlon whether he intended to follow the j example of the Morgan firm. "I intend to get cut as a director of all the companies that will let me," said he. "As a matter of fact, I have been beginning to do so for the past two years." The connections between Mr. Baker and the Morgan firm, and especially i with '..he late J. P. Morgan, generally were regarded as being so close that it believed their common decision re? garding withdrawal from interlocking directorates was reached as the result of concerted action. There was no evi? dence that any general agreement had been reached among other lea l Ing financiers of Wall street. It was predicted, nevertheless, by, men in Wall street, that the day's events were prophetic of the ending of the system of interlocking director? ates Who had been attacked for years and recently by members of the pres? ent Washington administration and members jf congress who have Leen fighting what they termed the "money trust." That part of Mr. Morgan's' statement in which he spoke of "an apparent change in public sentiment in regard to directorships" was re? ferred tb as a sign of the times. J. P. Morgan. Sr., at his death, was a director in f>y corporations, in? cluding many of the foremost rail? road and industrial companies of the country, and several of the largest banking Institutions, and to these di? rectorships his son succeeded. His partner! are directors in many more corporations and the firm, for yeas the don Inant banking institution of the United states, has been financial j ASSAULT ON OJINA??. REBELS MAKE: DESPERATE AT? TACK OX FEDERAL STRONG? HOLD. They Gain Foothold in Outskirts of City After Four Hours of Hand to Hand Fighting? Federals Still Hold Main City. Presidio, Jan. 3.?The whole Rebel army numering 7.500 men made a daring assault on Ojinaga early to? day, attacking from three sides at ! v nee. j After four hours of hand to hand fighting the Rebels gained a foot? hold in the outskirts of the city. ' <? Federals are still battling rately to hold the main city le main charge was preceded by artillery duel. Several shells drop i d across the border on American 1 Al. Major McXamee made a sharp protest against this occurrence. The wounded are being brought across the border for treatment. They say the Federal losses have been heavy. Many attempted to desert, but their officers stood with drawn revolv? ers threatening to kill all mutineera The Federal ammunition and sup? plies are about exhausted. It is es? timated that seven hundred have been killed and a thousand wounded on both sides. Fifteen Federals who wera captured by the Hebels were promptly executed. The Rebels are usina; dyna? mite today, many heavy explosions j have been heard. The Federals are mowing down the i Rebel lines who are making charge I after charge on entrenched positions. sponsor for a considerable number of them. In the organization of several, J. P. Morgan & Co. took the foremost part, and it was instrumental in the reorganization of others. George F. Baker is a director in n ore than 60 corporations, a greater j number than any other one man In the country. Mr. Baker, who hereto? fore hnH adhered to a policy of silence as rigidly as Mr. Morgan, expressed his views in his testimony before the Pujo congressional committee early last year. Speaking of the concen? tration of money and credit In tho hands of a comparatively few men, he "I think it has gone far enough. If it got into bad hands it would be very bad." I While Morgan & Co. is represented j on the boards of many of the coun | try's great corporations Mr. Morgan's j statement that members "expect from i time to time to retire from other boards," was accepted as foreshadow? ing the ultimate withd.awal of the Morgan partners from all the great outside enterprises with which they long have been connected. Samuel Untermeyer, counsel for the Pujo committee, said he regretted the* the announced list of withdraw? als did not "include tho more impor? tant interlocking directorates in the financial district held by the firm, such as those in the First NaUor.-el and National City banks." 1 It appears also," he said, "that wh.le some of the partners resign from the board of a given company, one or more remain, which would seem to indicate that this is more in the nature of a business convenience than a surrender to public sentiment, and that nothing very substantial has been as yet accomplished in the way of vindicating the principle for which advocates of corporate reform have been contending. But the promise held out in the interview is encour? aging. It doubtless will all come in time." In connection with Mr. Lntermey er's statement it was suggested that one reason the Morgan partners had not withdrawn from the boards of na? tional banks commonly referred to as Morgan institutions was that the mat? ter was being held in abeyance, pend? ing the interpretation of the new banking and ~-,rrency law. What wa nterpreted as a sign of willingness on Mr. Baker's part to give up some connections was tho recent sale by the First Securities company, controlled by First National bank in? terests, of a large block of stock in the Chase National bark, one of the largest financial institutions In New York. Prank A. s'anderlip, head of the National City bank, some time ago said he hoped to retire from director? ships of outside corporations as soou as possible, and devote himself to the banking business exclusively. Still another indication of the course of events in Wall street was the announcement today that the voting trust of the Guaranty Trust company, consisting of Mr. Raker and Messrs. Porter and Davidson, of the Morgan firm, would be dissolved January .10.