Historical Newspapers of South Carolina

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COTTON SITUATION. .HANKKHH (Bl'HINFSei .MLES AND PARMFIM wX)RK FOR Ml - Tt AKi <;<>rro OP FACH irTHFIt. llessgatlo? to He ? -nt from Banks ?ad rtaaaiai i off QafjSSSjSSWS to Sot ? Trwa Mtaetiou Be fore <? overturn nt oay4?j??Want Money to Lend on S A lengthy conference was held at "the Chamber of Commerce Monday evening} at which a committee from ihm Went bonk*, and Sumter County ^Marmora' Union repreaentativea dia e eased with the cmcers and directors of the commercial organisation the -somewhat eerious Hltuatlon confront-] Jif^iirltultiiral and commercial in %ereets due to the problem of finan? cing- the cotton, tobacco and other Meear?. Q. L. Rlcker and He mar?) Manning, cashiers of the City Nat tanal Bank and Bank of Sumttr, re rlvely. a committee from the lo aankera association composed of those two gentlemen and Pres dents Helll O'Donnell and Charles Q. Row? land, of the First National Hank and the Bank of South Carolina, reiipect rVely, will go to Washington this even Bhg. and Presdent J. Prank Williams of tLe Sumter County Farmers' ftnton. and Mr. 8. O. Qulnn. a dele? gate to Washington from ths Cham tar of Commerce, of Sumter. were pr leant ? President Williams outlined ths ne dsssity of Immediate action and an organisation looking towarda secur twa* comprehensive and comparative? ly easy methods of agricultural cred? it extension In order to enable fann? ers to hold their octton and tobacco ? for a length of tlms under reason? able rates of Intereet on money se? cured by agricultural product certi? ficates end collateral He stressed the I ? Importance of the local banks having sufficient money for cotton holding as well as cotton harvesting facilities. He emphasised the further Impor? tance of the national government plac? ing the money In the local banks In? stead of In reserve end branch banks, if this.can be accomplished. The mam ? features of the arguments set forth by . those present was that the "middle , bank Idea" or custom of distribution of crop moving funds whereby cer? tain National bank depositaries are' sueaiehai ~ge*er*>m?rA money at two ^psr cent, and lend this money to oth? er sad smaller capitalised banks at per cent to be re-dlatrlbuted to ?-??-> ? ? ? - ? farmers at 8 per cent is unequitable and does very little good because as a rule local banks of Sumter are al? ways prepared to lend farmers money at 7 and 8 per cent, President Wil? liams saying that the Sumter banks have actually loaned Sumter county farmers money, in an emergency, at 6 per cent, what it actually cost the bank. Messrs. Kicker and Manning said that the delegation of bankers from Sumter propose to protest to the sec? retary of the treasur and the comp? troller of the currency against the custom of depositing the bulk of the crop moving money in banks located in counties and big cities, where lit? tle cotton is grown, and ignoring the banks in smaller cities, the county seats and financial and commercial centres of the greatest cotton yielding sections of South Carolina. The Pee Dee and eastern Carolina counties are really the greatest cot? ton and tobacco ^rowing counties, yet none of the crop moving government funds were deposited last year in Pee Dee county banking centers. But the up-country, cotton manufacturing counties, received the crop moving money, loaned It out to other banks, which redistributed It to farmers at 8 per cent. The elimination of the middle bank method of distribution, and the de? positing of crop moving money in ag? ricultural and financial centres at 2 per cent for direct distribution to farmers at the lowest possible rate of Interest is what the local bankers, the Farmers' Union, the Chamber of Commerce, and the Retail Dealers' Asoclatlon are fighting for. The question of cotton-holding gov? ernment funds during the European war Is another problem from the usual annual crop moving fund sup? plied by the United States treasury. The delegation of Sumter bankers, with President D. D. Moise, of tfc* Chamber of Commerce, who with Congressman A. F. Lever will confer with Comptroller Williams and Sec? retary McAdoo tomorrow in Wash? ington will not undertake to at first discuss the crop holding or extraordi? nary emergency money fund, but will discus or protest against discrimina? tion against smaller banking and agri? cultural centers by national govern? ment deposit methods, seeking to have the Pee Dee and eastern Carolina cot? ton growing county sections given the bulk of the cotton moving fund, and, If possible, also the necessary crop holding fund which the Southern Cotton Congress will undertake to provide for by government assistance. The local bankers' delegation and President IIoIm Will attend the Southern Cotton Congress as repre? sentatives of the Sumter Chamber of Commerce August 13*14 in Washing* ton and this financial delegation will be governed, in their final request for crop-holding aid by the action of the cotton congress. President Williams agreed to write a letter for tha bankers' delegation setting forth what the agricultural conditions are and what is needed. The directors ordered the secretary of the Sumter Chamber of Commerce to prepare a letter from the Chamber of Commerce with statistical informa? tion about Sumter county cotton yields, number of bales annually sold on Sumter markets, local banking statements, etc. and to attend a spe? cial meeting of the local bankers at 11 o'clock Tuesday morning to fur? ther discuss with the bankers what the commercial organization and the Farmers' Union want. President Moise was urged by the Chamber of Commerce directors, and the local bankers' delegation to go to Washington this evening with the delegation and attend the conference with the chief financial officers of the government and Congressman Lever. Within the cotton producing terri? tory directly tributary to Sumter banking circles an annual average of 50,000 bales of cotton are produced which the Sumter banks, and their branch banks usually care for by crop moving advance accommoda? tions. At $S per bale, for picking and ginning these 50,000 bales it will be seen the $400,000 are required to place thin number of bales upon the market. In regard to the crop-holding or proposed warehouse certificate plan of assisting the farmers to hold cot? ton to meet European war depression condition by banks or the United States government advancing money on cotton stored collateral, it can be readily seen what an enormous sum of money will be required to give any adequate relief to the farmers in or? der to enable them to hold their set ton until normal prices prevail reg? ulated by the universal law of supply and demand. However, if every county In South Carolina, and every Southern State will organize like Sumter county i;i being organized, there is no telling what might be accomplished after the Southern Cotton Congress works out a plan of procedure. What is mostly needed, next to the actual financial assistance, is a cam? paign of education whereby the farm? ers will be prevented from stamped? ing or flooding the cotton market, and creating a low price for cotton. Bven should any measurable amount of financial support be given for crop holding purposes, the Sumter County Farmers1 Union, and the Sumter Chamber of Commrce believe that the actual relief afforded, and the oppor? tunities and ways and means of ac Ottrlng crop holding money must be rapidly disseminated among the thou? sands of farmers. That is where the benefits of or? ganization are going to come in. The Farmers' Unions and Chambers of Commerce of South Carolina and the entire Southern States, and the banking institutions will be put to it hard and strong to stem the tide against the farmers, but these or? ganizations and institutions are evi? dently getting ready for the biggest battle of their existence, and they ?hould receive every encouragement within the power of the masses of the people. Never was organized effort so much needed, in city and country as at the present time. TOBACCO MARKET HOLDING VP. Fourteen Thousand Pounds Tuesday and Ten Thousand Wednesday. The Sumter tobacco market is hold? ing up extremely well considering the effect the Kuropean war has had in depressing the markets all over the country. There are as many buyers on hand to be added to the ten or more already here. The prices paid are exceedingly good and there seems to be little here to show that the Kuro? pean war has affected the market. Tuesday there were about fourteen thousand pounds sold at an average of twelve cents, while Wednesday there were nearly 10,000 pounds sold at about ten cents average, the grade not being as good as that of the day previous. The daily averane amount sold is between eight and ten thousand pounds at an average price of about ten cents. The tobacco comes mostly from the Trinity and Bhiloh sections of the county, with some from Turbeville and some from ('uncord. The managers ??f the market seem much encouraged nrtd think that the market is paying insufficiently high price to encourage the farmers of this section to plan\ more tobacco next year. New York, Aug. 12.?Through the British consulate, Amdiral Craddoek who is aboard the cruiser Suffolk, re laniie is clear for trathe as far South as Trinidad. No warships are now in the lane of liners to Imgland. this afternoon that the At MANY IRlFMiS OF GOVERNOR (.Mill Kli) PROM MAW COUNT1KS. Red Badges ami Cotton Blooms Been on All sides?Blease Denim Thai any of His IVionls Have Received Money lor Pardons and Pollock shows Tedder Mortgage to Klrven ?Smith Wants Relief for Tanners Florence, Aug. 11.?Not since the senatorial party left Alken two weeks ago has there been such another mobilization of partisan voters from so many counties as here in Florence today. By the number of automobiles fron. Darlington, Dillon, Marlon and Lee counties, parked in the main thoroughfare*, and the crowds getting off trains from every direction, one would have judged that all the straight and narrow paths in this sec? tion of the State led to this gate city in the Pee Dee. On account of a railroad wreck near Columbia, Gov. Blease did not attend the- Bishopville meeting yesterday in Senator Smith's home county. It was at Xewberry, the governor's home, that the junior senator got one of the most cordial receptions of the entire campaign, it being there that he first rode to the grove on a bale of cotton and the white cotton bloom as a cam? paign badge was introduced. Today in retaliation, the administration forces of this Vicinity were marshaled in solid phalanx. As if in anticipation, the governor said in the course of his speech that the newspapers tomorrow would claim that the meeting was "pi< k> ed" with organized crowds from other counties. In support of this charge, J. M. McCown, county chairman, ad? dressed the audience as "fellow Dem? ocrats of Florence and adjoining counties" in his opening remarks. Also of the eight or ten automobile! that came in line to the grove with the governor, these bedecked with huge Blease banners, three machines at least were from Darlington, their conspicuous numbers being 415, 300 and 4 24. . There were approximately 2,500 persons present. A large percentage of these wore red ribbons and when the governor had finished speaking and left the stage, approximately 0no third of the crowd followed or drift? ed away gradually. General disorder was unleashed during the first half hour of the speaking when Senator Smith was subjected to a continuous rattle of discourteous remarks. It was not un? til threats had been made to have several men arrested and the sheriff had repeatedly urged that a respect? ful hearing be given each candidate that the crowd assumed an orderly hearing. Speeches today varied little from the customary routine utterances. Qov. Blease added one interesting side remark, when he read from "Men of Mark in South Carolina" that J. W. Norwood, with whom the governor had an altercation at the Creenvilie meeting, had no1 supported the Dem? ocratic presidential nominees in isoo. The governor also said today that any one who charged that either lie or his agents got one penny in re? muneration for pardons granted was "a dirty lying blackguard and scoun? drel." To offset tliis, W. P. Pollo.dc cited the page of the hook on which the Tedder plantation mortgage is recorded in Darlington county. Mr. Pollock charged at the Darlington meeting that "Josh" Kirven, denom? inated as the pardon broker of Dar? lington county at the meeting list Saturday, got this mortgage for in? voking the governor's mercy for Ted? der, sent up for life for manslaughter. Senator Bmlth was the first sneaker and explained in detail the results of his trip to Washington over Sundav for the purpose of seeking federal re? lief for the denu.ralized condition of the cotton market. The speaker said that he liad found it practically impossible for the new banking and currency law to be? come operative within the next month. This precludes the possibility of banks accepting cotton as collateral under the Smith amendment, embodied in section 1 :i of the act. The plan which the senator is now pursuing is to have half of the bil? lion dollars of emergency currency just issued under the Aldrioh-Vree Kand act sent South and distributed through all banks. State and national and to be borrowed by farmers, the banks accepting certificates of cotton stored as collateral. It is the two third:- of the entire cotton crop which I Is* always sent to Europe that is wor jrying Senator Smith most. BLEASE PARDONS ANOTHER. The supervisor's office this mornin; received a pardon signed by Go\ Blease restoring to M. J. Morris hi I citizenship. The offense involved ii this cast' was breach of trust, SJki the pardon is "in order to restore hi citizenship, he having paid the fine o* $20.00 imposed upon him." The par don is dated Aug. 10th. = BOYS AND GIRLS, LISTEN ===== YOU HOST WORK HARD IF YOU WANT TO WIN! THIS handsome pony and cart is to be given free to some boy or girl by the following business houses in Sumter. But good things never come without working for them. If you want to be the for? tunate winner of this pony and cart, have your folks and your friends, and their friends to buy at the stores that give pony votes, and save votes for you. IT'S ALL FREE It costs nothing to enter this contest. Any boy or girl can start right in today. Just goto any one of the stores mentioned in this adver? tisement and tell them you want to enter the Pony Contest, and you can start right in get ting votes. Then tell your mother, father and ?U your friends to buy at the Pony Contest Stores and vote for you. Votes are given with all cash purchases and on payment of all new or old bills. Start in to? day and you will have a splendid chance to win. W. H. Shelly & Son. "THE STORE ACCOMMODATING" The only Complete House Furnishers in Sumter. PHONE SO OPPOSITE POSTOFFICE Stubbs Bros. OUTFITTERS TO MEN AND BOYS I ? Clothing. Shoes and Furnishings with Style and Snap S. MAIN STREET SUMTER, S. C. Ladies' Outfitting Co. This is the store where you can buy your Ready-to-Wear and Millinery that are the correct styles and desired qualities. L. W. Folsom, Home of Ilawkes and Libby's Fine Cut Class and the best in jewelry. A. C. L WATCH INSPECTOR 101 M. MAIN ST. WE SELL KODAKS HOW TO GET VOTES If you know some one who wants furni? ture send them to W. H. Shelley & Son. If they need shoes or clothing, take them to Stubbs Bros. Tell mother to go to the Ladies' Outfitting Company for the girls' outfit. Get all your friends to visit the Rex Theatre every day. Have theiji to phone Phelps whenever they need anything in the grocery line, and be sure to remind them to go to L. W. Folsom for jewelry or kodaks. V. H. Phelps, "THE OLD RELIABLE" "Royal Scarlet" and "Robin Hood90 Can Goods. COR. LIBERTY & SUMTER 2 PHONES- 706 & 707 The Rex Theatre, SUMTERS BEAUTIFUL THEATRE The Home of the Excellent Universal Program ALWAYS A NICE SHOW FOR NICE PEOPLE