Historical Newspapers of South Carolina

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COTTONCONGE AYS CUT CROP Columbia Meeting Recommends Cut of One-Third in Cotton Acreage. FARMERS ADVISED TO HOLD COTTON **OR 35 CENTS Governor Harding of Federal Reserve Bank Addresses Gen eral Assembly1. : Columbia, Feb.^ 14.?With their 5. , minds fully made "up to take definite steps to secure a price for cotton in Keeping with, the cost of production, to adopt systematic plans for a dras !;-."<3c reduction in, cotton acreage, during yr ? the coming year, and to suggest means whereby the use of commer cial fertilizer might be reduced farmers and bankers from every sec ? tion of South Carolina met at Craven E?Eall yesterday at noon and heard ad dresses by Governor R. A. Cooper. Ire ex-Governor R. I. Manning. B. Har ns, commissioner of agriculture and J. H." ClaflEy, president of the farm ^:"era? union. WS? At the conclusion of the meeting. B resolutions of far reaching efr-v. Bwere unanimously adopted. The farmers feel that if these resolutions. B which ' ere similar to those adopted ' by other Southern States, are followed religiously the calmity threatening the..State will be averted and pros perity such as has net been expe ' rienced in years will prevail. In'.the preamble to the resolution. . it is. set forth that the rest of the " country" is facing an era of almost unthinkable prosperity, but that the South is threatened with a calamity to its* commercial life as a result of . theprice'of cotton. It is pointed cut that there must be a drastic re-j ? d?cti?n in acreage as well as a hold ing" of the present crop and the res ?lutions provide: '"For the systematic holding of cot - ton now on hand until it reaches 3o cents basis middiing. Systemat'c plcr?--. for 33 1-3 per cent reduction in cot tan acreage throughout the belt. However, any man planting five acre*; or less to the horse to make no re duction. "Six to seven acres, reduce one acre to: the horse. '"Eight to-nine acres, reduce two acres to the" horse. yi,'-'Ten to 13 acres, reduce three ; acres.. fourteen acres, reduce four acres. ' "Fifteen to 16 acres. red\m^ five, acres.-; , '.- ? -v~^$*venteen to 18 acres, reduce si\ .acres. . . ."Under no circumstances will any farmer/plant more than .12 acres to the,-hrbrse. ' '"Systematic plans for reduetion in th^ use of commercial fertilizers." In the resolution adopted, the gov ernor of the Stat* is request; i to ?? aside February 22 a? "Reduction Pledge "Day," at which time farmers Over.the entire State are to be ap - pealed to to sign pWpre?- for the re duction of cotton acre.irv? one-third and the planting of lands in food crops' instead of cotton and 1 re duction of com mere: a! fertility 50; per cent of th*> amoun! in T918 for cotton. The governor is s>:?o aftjred to ear! upo** the governor of other* Ptotft? to call for ? of farmers an'1 business 11 en so that th*?mcverront may become Souths id ?n f?ect)o. The comm'ft^o on reg? >'--.*.'? :?? rec ommended thai a committee of ??? rtr. persons be tl^t^'i" b-? the crovemo: ro inaugUT??** a Statewide campaign to effect the purpese-j set forth. As funds were needed for rh:s committee to work effectively loans were eni!?*d for and more than *1.T?00 vras 1 scribed. T* is planned *o repav this money at a later date. . Clemson College is asked to assist in every possible way in securing pledges for a reduction of acreage In the resolution bankers are car ed upon to scrutinize closely all ap plications for loans, and not to gran* loans for operating farms cn which there is no proof of reduction of one third in cotton acreage. Officials of the South Carolina Bankers' Association are also called upon to communicate with officials of similar associations in other States asking them to adopt plans similar to those suggested for South Carolina bankers. The president of the Farmers' Un ion is also called upon to cooperate in the movement and to call upon the unions in other States to take like steps. The commissioner of atrricu" ture is called upon to communicate with other commissions so that the whole South may be affected by the movement. The assistance of the United States agricultural depart ment is requested as is that of the State warehouse commissioner and the chambers of commerce and boards~of trade of the cities over the State. In th^ resolutions adopted the gov- ! ernor was requested 10 appoint dele-! gates to the New Orleans convention which meets February 17-18. It was resolved that the delegates appointed! be instructed to stand for a price of j not less <han 35 cents. b-:sis middling, j for cotton now on hand, one third re-' duction of the cotton acreage and 50 j per cent reduction in commercial fer- : "tilizer of the amount, used in 19181 for cotton to be used in 1910 on cot- | ton. I The legislature is to be requested j to make an appropriation to defray; the expeiiSO of a representative ofj cotton in the Peace Conference. Oth er States an-* also to be asked to de- , fray 'th? expenses of a delegate so j that cotton may have representation t at the conference. The resolutions also set forth thej necessity for publicity and carry the request that the press give the move ment all the publicity possible. The! PEACE CONGRESS ME PROGRESS Well Informed Observers Be lieved Foundation Has Been Laid for Peace Treaty. ADJOURNMENT FIXED FOR FIRST OF JUNE i I - [President Wikon Will Leave f Paris To-Night and Sail From : Brest for New York To-Mor I row. _?? I Paris. Feb. 14.?The plenary ses i siens of the peace conference which ! js to be held this afternoon may mark I the conclusion of the first, and pos rsibly the most important phase of the 'work of world's greatest internat j tonal gathering:. Subjects of great mi ! port may come before later meetings, i but the opinion of QuaPfled students j of the history of other conferences, {13 that the adjournment of today's ! 'jr-ssion may reveal that the founda tion for the settlement of all Ques tions that follow .has been :aid. j While the various governments are j acting on the proposal *or a society i of nations che peace conference is ex [ pected to prepare a mass of material [which w'11 come before the society. i The peace ^ohferehce is expected jto adjourn June 1st. The American [delegates believe that the proposed j socite of nations will not nflict with j the Chited States' constiu ion. ; President V.'.';~cn plans to leave {Paris tonight, ami will sail from Brest j tomorrow on the trap-port Gteorge j Washington. [ The co "?naht provides tha+ oolc ;r?fes and territories b^ removed from sovereign states whi~h formerly gov ?r,n" 7 *hem , ' able to rtand alone shall become trust of civilization. Th0 contracting partier to endeavor to secure and maintained fair, hu mane conditions, labor for -rrvm. wo men and children, and agree to es tablish permanent bureau of labor. [Members agree to secure and main 'tain free transit. equitable treatment for commerce of all members of the league: all treaties, interactional en gagements entered into hereafter by members of the league to be register ed with the secretary general, not to be binding until registered. Contracting parties afr^ee to cove nant abroad. All obligations among themselves which is inconsistent with i the terms of the covenents in the | Concluding article provides that amendments to covenants are effec tive when ratified by the s*ntn<? rep resented in th? ''x'SCUtive ccune?!. nil jnrm-tirr"?W----- ?.? 1 ????> j j commissioner of agriculture is re quested to make public daily the number of ?lodges secured in each county during the campaign. 7hr* federal reserve banks-'in Rich mond and in Atlanta are requested to 'render every assistance possible in the carrying oar of the plans. I The organization, according to the f resolutions is to bo known as the j South Caroline. Cotton Association. J. TT. Pa vi?- was appointed to re quest the association in the legisla ture and to go before the agrictiltur .-?.! ? ?or.vm:tt>-'" *?-? secure an appropria tion to send a representative to the Peace fonf oreitce. The Assoclo'ioji '.vent ^n record *??* i favoring the Smith bjil which covers t'hs character of cotton deliverable ttpon cotton exchanges amended so as [fo p cJude +m~e<; of the same grade. I Win the association was called to ford? c yesterday momin?, B. Harris Lpr? pa -d Gov P. A. Ccoper wh'? said r thii*i ? farmer*: and bankers had [been called together to consider mat ['-..- of vital :i. portanee to the South j Jb .-?that it was not time to talk, but th; * time had com?- to act and to .1'' <;u!efcly. He emphasized the tfa.c? :.'r.: the movement to secure bet i'ter prices for cotton was not primar ily a movement for the benefit of the j farmers but that a'J were concerned ?n if. He suggested that a commit tee on resolutions be appointed to nap out souk' plan by which every farmer could be reached, and sug gested that some plan similar to th.it used in the Liberty loan campaigns might prove effective. Governor Coop er spoke briefly and was warmly ap jplauded when he concluded. J. K. Claffy was then elected temporary i chairman of the meeting on motion i.of B. Harris. A roll call by counties [developed the fact that with few ex ceptions every county was represent ed. B. F. McLeod. W. T. Walker. J. H. Davis, L. T. Ouion. T. C. Kamer. J. Skottowe Wannamaker and Dr. G. V Hunter were appointed a committee to draw up resolutions outlining a plan of procedure. Governor Cooper then suggested that ex Governor Manning be inv?t'd to address the convention. Govemo'" Manning outlined a plan by whico farmers might be assisted in holding their present cotton without putting too much burden on banks, and urg-i ed the advisability of reducing the! acreage. II<: also suggested that con-j gross be requested to pass a law re ? miring the exchanges to operate an a fair and equitable basis. i After a short intermission th?- can- ! vention reassembled at 2."0 o'clock I and J. S. Wannamaker presented the resolutions as outlined above. The campaign, which is to bring 10 j the attention of every farmer in the State the importance of the move- ! meat, is to be outlim-d by a commit- j tee of reven which is to be appoint ed by the governor. This committee is to be composed of two bankers, two business men and three farmers. After securing subscriptions with which to Kot the campaign going, i the convention adjourned to go to the; State house and hear Mr. Harding! ?-peak. J i 7">iivc-7oto i-Mpfz-.-r: Ti'v.- \v' P. G. j Harding, governor of the beard of di- j rectors of *be. f?deral reserve system, a bill will be introduced in the legis-' President - Wilson Reads Cove nant of Proposed Society of Nations. GREAT POWERS TO KEEP PEACE OF THE WORLD Armanents to Be Reduced and Limited and Court of Arbitra tion to Be Established. Paris. Fob. 14.?The executive council of the proposed league of nations, as outlined in the covenant read by President Wilosn today, will consist of representatives of the link ed States. Britain Britain, Franc; Italy. Japan and four other States, ^he council will meet as often ::s necessary, but at least once yearly. The president of the United States shall summon the first meeting: of the body. Admission of states not signatory to the covenant will be with the assent of not less than two tbirds of the states represented in the body. PO^atos shall be limited to fully self-governing countries. No state "?iil be admitted unless it gives effec tive guarantees to observe internat ional obligations, and conform to the eencitions prescribed. The high contracting parties' un dertake to respect and preserve the "-?rviTorin! integrity and political in donenden1"-? of ay members against external aggression, and reserve the right to tnke any action to safeguard the pence of nations in case of war Of threat of war. Tn ca?e of disputes nrisin.T. whieh 'Tip'omrcy cannot adjust the high j contracting parties will not resort to war without submitting to abritration or to an inquiry by the executive ootmci'. and until three months aft^r action by the arbitrators or execu tive counsil. The council shnll formulate plan for the establishment of a perma nent court of international justice. The eoyenant says the maintenance of pence requires the reduction of national armament. The executive council shall fix the extent of the ?r jr?amenta to be maintained. The executive council is directed to g'"ve advice on the abatement of th? evil of the private manufacture of munitions and implements of war If any party breaks or disregards the covenants, it shall be deemed to epvo committed an act of war. and *h" other members shall take eco nomic and financial measures against it. Tn such eases the executive council shall recommend the amount of nn val and military forces each member of the league shall contribute. Members of the league agree to mu tually support one another financially and otherwise in any measure tak en.. .^ Iature providing for the organization j of a cotton corporation under the Webb act to stimulate trade in the European markets for cotton. Mr. Harding spoke to a joint meet ?' ing of the two- houses of the gene>-al assembly at 3 20 o'clock yesterday af ternoon and cited the ' authority the farmers had to organize. He wished ? > see the plan incorporated by some State legislature. The p'an he sug ge~*eri was the organization of two <aich corporations?enc for Texas and the remote West and another for th~ Sor.th Atlantic nnd Gulf States. A con ference of cottonseed oil ? mill men was cePed in Washinton early in the week to discuss this same propo sition as relating to cottonseed pro ducts. The 1918 crop of cotton was pro duced at a cost of about 22 1-2 cents ! a pound, as nearly as could be ascer tained. Mr. Harding said. Thus the staple was selling now below the ac I tual cost of production. It was not I ^expected that rfhe producers should {V:ven se?l 't at cost. Put were entitled j to a reasonable profit. There was iit prospect that the cost of produc ing the 1919 ciad' would lie lower ! than that of 1- t year. Consequently, I the extreme necessity of reducing I acreage and cutting fertilizer bills, i Conserving the value of the crop {already prodtP-od was the greatest : problem confronting the cotton '^rower. "With tie- organization of a j cotton corporation, to become the I selling agent in foreign fields. the ; grower could assign a. definite por ! tion of his crop each year to the for | eign market: all artificial stimulation of the market would thus be eliminat ed, and tip- cos1 of production and j the demand for the crop yield their [natural influences noon the market. Conditions following the War Be tween the States were very dis rimilar from the conditions obtaining at the close of the great European war. In 1S65 tin- South, the cotton j producing area, lay in ruins with the manufacturing centers intact. Then 'here was every assurance that an j abnormal price could be obtained for : p cotton produced for a. number of j veers for the production of cotton \ under impoverished conditions was -t exceedingly difacult. In contrast with tin' period follow- i j ing the AVer Between the States, the i situation has been largely reversed. The cotton area has been touched by It the war only indirectly, in so far as 1 production is concerned, while t ho | ? .great manufacturing centers oflj France and Belgium have been wrecked and trade restrictions pre- ! vent an "open market" for other ^ countries The outlook is hopeful Put.'! uncertain. The outcome will depend : largely on the farmers' ''will to cut" 11 r.d "to help themselves." Mr. Hard-', ing said, antly illustrating bis phil-f i osophy hy tin- fable of the farmer and !: ?he larks, wipe}] knew they did not j ? have to move from the grain fiepls so ' < long as- the farmer depended upon i his neighbors to harvest his grain,' .?? The Appropriation Bill Carries $2,234,516 and a Levy of 7 3-4 Mills. STATE EXPENSES LESS THAN LAST YEAR The Bill Shows Reduction of $132-358.83 Under Appropria tion of Last Year. Columbia, Fob. 13.?The general j appropriation bill, carrying a total Of $3.234.516.-13, and a levy of 7 3-4 i mlils, was introduce d in the house !? i representative;-- tonight by the ways and moans committee. The bill 'mows I a reduction of $132,358.83 under xb< [appropriations granted in ISIS, when the bill carried a total of $3.366,$75. 2$ and a millagc of 9 1-2 mills. The miUage last year, on the authority confered in ih( bill, was reduced tc 3 1-4 mills by Comptroller General Osborne, when the tax commission added spproimateiy $50,000.000 tc the taxable property of the State or its reassessment, of real estate. The appropriation bill, as introduced to night, shows a reduction of 1-2 mill under the reduction of the comptroll er general. The bill shows a reduction of $729. ?07.::; under the estimate as turned ?n by the various State departments end institutions. These estimates ag gregated $3.927,153.79. for which the comptroller genera estimated that ii would require an S 1-J mill levy Chairman Bradford and the mom ' era of the ways and means commit tee arc being congratulated on th( showing they have made with th* bill. They have worked hard anc conscientiously and the smailness o: the total and the reduction of the levj a me as a surprise, as it was expect ed that there would be a material in crease. The following are the total appro prtations for the various department: Mid institutions: ? iovernor's office, $15,980; Secretary of State's office. $9.100: Comptrollc: General's dfSce, $10.550; Insurant Commissioners' office. $10.630; Stat< Treasurer's office. $10.100; State Su perintendent of Education, $.14.900 Adjutant General office. $21.300; At torney General's office. $1$,902.30 j fin''read Commissioner's office, $17. 9~0: public schools. $364.102.56; Stat< librarian's omce, $3.125; public buildings, $-1.1 2^: State electriciat j and engineer. $26.850: Catawba In i ans. $7.500: Department of Agri (culture. Commerce and Industrie; I 54.800: Judicial Department. $124. 041.99; Health Department, $12*. ! 56.23; State Board of ?fedical Fx aminers, $2.000: tax department, ?i*8, 713.10: University of South Carolina $131.300: Winthrop Kormal and In dustrial ColP-ge. $233.841.63; The Cit adel, the Military College of South Carolina, $59.619.63; School for Dea< and Blind. $78,800; State Colored Normal. Industrial, Agricultural and Mechanical College. $57.709.63; State Hospital for the Insane. $620.402.43: South Carolina Industrial School, $84,300; State penitentiary,1 $8.740: other charitable and penal purposes, I $3.100; chief game warden's office. $7.750; historical commission, $3, 750; interest on bonded debt, $222, 289.16; elections, $10,275; expenses ommon to both houses. $1.070; the senate. $18.640: the house of repre sentatives, $37.155; engineer's depart ment, $('.320; the Medical CoPege of South Carolina. $49.737.34; pensions and Confederate Infirmary, $300.000; State warehouse commissioner. $10. 000; State Board of Charities and Corrections. $14.995; joint committee on printing, $27,450; miscellaneous; ; 349.620.14. Grand total, $3,234.516.45. To Land at Boston President Wilson Will Then De liver Address Covering Work of Conference. Brest. Feb. 15.?When President Wilson 'eft here today for the United States it was announced that he would land at Boston on February 25th. where he expects to make an ad dress, which will cover the work performed at the peace conference. In a farewell message to the French People President Wilson said he had been received and treated as a friend, just as he had most desired to be treated. He added that he would bei happy to return to France to assist in coi lpleting the just settlement of the peace conference. There was no cere mony er^cept hand shaking and a sa lute of twenty-one guns, as the presi dent boarded the French gunboat to be taker, to the George Washington. but knew to "move" when they cver heard the farmci say that h<- and his -?or.* would cut the grain themselves. It had been the part of wisdom t< market the crop slowly. More bot toms were being released daily: ocean freight rates were being lowered, and through nil; of lading were again being granted by railroads. But cot :cn mills in many instances were com pelled to reduce their output w'th !?<? discontinuance of war orders and :he like'ihocd of a dull market for ?oods t.-ntil trade conditions were gradually restored. Credit will be easy and. -- the pro >osed corporation, Mr. Harding as air d. TP1 cited the recent agreement K'lween the banks of Belgium and a ryndicatq of banks in America to inance '.be lit'b- stricken European ?ountry 12 months until this raw nateria] can be manufactured. Cot on was one of rbe commodities in liuded Under the plan the paper j m I'.el.rium trade will bo rediscount ?d ?y the federal reserve banks, thusj amplifying the proposition. ' It Is Not Possible to Complete Work and Adjourn On Time. BILL TO REGULATE SMOKING IN PUBLIC House Passes Bill to Appro priate $100,000 for Memorial to Soldiers Who Fell in France A Columbia, Feb. 14.?If a bill m j trcduced in the State senate by Sen I ator Padgett of Colleton should be ! I come a law, smoking in public eating ; i places would become unlawful. The si bill introduced by the Colleton scna ?; tor provides that it .shall be unlaw ful tor any person to smoke tobacco ?a- any other substance during the meal hours in any public eating room within the Slat.-. A ?ne of not less than $10 nor more than $25 is pro vided for those volating the act. Senator Whartcn of La ureas has introduced a bill appropriating $100. 900 for the State training school for the feeble-minded. The money would be used in the construction of a new bu''ding. Sixty thousand dollars was appropriate;! for this purpose at the last session of the general assembly. This has been found to be insuffi cient. Senator ClrrisP-nsen served notice on the senators yesterday that they might as well get any idea of .i.d journing Saturday week out of their heads. He said that he thought 'hat it would be a human impossibil ity for the assembly to concluda the work liefere it in that time. The remroks of Senator Christen sen were brought about by a state ment by Senator Padgett of CoP.e tion in a debate that the general as sembly could finish its work next week. To the surprise of nearly every one -?the house has passed with very little debate a oil' providing for a me morial building al the University of South Carolina to cost $100.000. to . erected 'n memory of the South ? ro'Jns h'ovs who fell in France. It is planned to erect a similar building nt Claf-in College. Orangoburg. as a memorial to the colored soldiers who died for the flag. Many different forms of memor ials have been proposed. The city of Columbia proposed to give the ?and for a big memorial park, if the state would erect the memorial build ' ? ings in it. A bill, introduced in the I house by Representative McAdams of j Abbeville providing for the erection of a monument on the State house aroun.ds to the memory of the boys, has parsed the house and is now in me senate. It will probably pass that body also. Senator Christensen of Beaufort has introduced, in the senate a bill re quiring the State tax commission to make a complete survey of the State by Star, county and school districts and private property lines. One 1 ill that won't get through the legislature is that introduced by Sen ator Ridgell of Lexington providing ror the erection of en administration building to house State offices. There ire at present a large number of State lepartments occupying office build ings in Columbia. The rent on these buildings is right considerable. Itj has been figured that this rent would ?ttore chan pay the interest on the monev invested in a new building owned by the State. Nevertheless it ?s a. s^fe bet that the administration building will not be authorized by this general assembly. Sentiment has not ;?--<?:a ffzed for it yet. The good roads Pleasures are lia ble to come up in the house almost :nv minute now. The sentiment for their passage is very strong and it ^ovms more than likely some sort of . measure will get through looking to the construction of a permanent high vay system. The bond issue bill and ?h.- b'-il reported by the good roads committee for the house providingthe machinery for the construction of the ystem appear to have a good chance. :)"'"'r'nfii; men from all over the State have been here during the ses sion and some are here now in the merest of these bills. jBig Loss, No Insurance Property Under Government j Control at Savannah Was Not Insured. Savannah. Feb. 15.?rAu area of five blocks on Hutchinson Island which was swept by flames late yesterday is a mass of smouldering ruins today. No aceuraio estimate of the loss, princi pally sustained by the Southern Fer tiliser Company, and the Seaboard Air Line terminals. ( ouid be made today, pending a checking up, but some un official estimate, state that it runs into the millions. It is stated that there was no insurance on the wharves ;md docks and other proper-! ( ty and- r government control, but the private losses ar> well covered by in surance. Legislative. Elections Penitentiary Directors and Col lege Trustees Selected. Columbra. I*-eh-. 1 '.?The entire time of the general assembly war; taken up today with elections. .j. AT. Smith, of Colleton. 0 C. Scarborough, of Clarendon, and J. A. McDermott. of Horry. were elected Irrectors of the penitentiary. J. E. McDonald of Winnsboro was ?looted trustee of Winthrop College. Dr. S. Fishburne. of Columbia, Da ds of North, and Woodruff of Pick ?as. and I'. Ii. Cadsden of Charles on. were ? looted trustees of the medi go of South Carolina, FAKE STOCKS ROOD COUNTRY Secretary of the Treasury Glass Asks Congress for Laws to Protect Public. GRAFTERS CARRYING ON CAMPAIGN OF FRAUD Plausible Promoters Are Selling Stock of Doubtful Value in All Sections of Country. Washington. Fob. 13.?Drastic leg islation to protect the government in ts financial operations and the peo ple of the United States from "threat ened grave injury" growing out of the issuance of securities of doubtful worth was asked of congress today by 'ecretary Glass. In a b tter to Chairman Kitchin of ?he house ways and means commit ! tee. Mr. Glass urged early enact | acut o." a law drawn by the capital j "ssuos commission, which would re I !ur*~ al! corporations or persons de ! iring to seil steck through the mails j or through advertisements in newspa j oers circulated through the mails, to '!e with the secretary comprehensive ' statement of the stock. It also would. { make the persons required to sign the statements personally responsible for my falsity therein. Wilful violation of the act would be punishable by fine of ?5,000 or imprisonment of one i year, or both, and persons suffering I from intentional misrepresentations im the statements could recover dam i age. j The country is being flooded with ' stock dotations at the present time, j lany of which are of doubtful worth and many of which are fraudulent," i Mr. Glass' letter said. "The miUions ?f holders of our l iberty Bonds are being solicited by paid agents to ex hamfrc th^se bonds for these securi ties, thus not only seriously diminish ! ing resources which should be kept available for government financing, hut as well bringing in many cases ?^nancial loss and ruin and seriously ?>ovard!zin?r national finances from' the resultant sale on the market of government securities by those who have thus obtained possession, of them. Public protests are coming in from all parts of the United States. "While the condition I have pointed out is not a new one, it represents at the present time an especially grave .r>en-:ce to the public and to the gov ernment and for the common protec tion of both. I make this appeal to congress for the legislation indicated, to cope with and to suppress this. ! evil. "Permit me to point out that this ror.ased action by congress will_not_ of itself be sufficient to suppress ef fectually this evil, because there are many transactions with which con Tress may not have constitutional au horit~ to deed. Supplementary legis iation by the several States will also ? g necessary. The promoter or stock vender whose agents go from house to house relying upon personal con -orsations and solicitations without house of the mails or any of the Fnited States governmental agencies v,rr,-i:v -0G reachCC3 through na t'onri legislation. On the other hand ?hcv rtiri he adoo.utaely controlled by state I^cis'.ation and the .obvious method would be to require all per sons desiring to sell shares of stock to the public to obtain first a licensa from any State in which t>uch shares are to be offered. At the present time legislatures of : great many States are in session ? nd ' ea rnestly hope that proper ac tion may be taken by them in coor nation with legislation that congress please to enact." Pubhc service corporations whose stock issues arc approved by a State eomar.is^-ion. would be exempt from he requirements of the proposed act, but : il other corporations engaging in interstate co?r>morc" which propose to sell stock through the mails would have to tile the required statements, signed by the head of the corporation, the fnancial officer and a majority of the board of directors. Full details of the corporations or ganized would be required in the statement, such as the names and addresses of the officers and direc tors, the capitalization, commissions paid foe selling stock and a certifi cate of two disinterested persons statiajr the fair cash value of any prcn'-rtv rights or interests acquired or to be purchased by the corpora tion from the sale of stock. Every advertisement and prospec tus dealing with the stock would have to state that the proposed act had been complied with and notify the public that the required statement was filed with the treasury and with 'he i>estmaster of the capital city of the State where the offer or sale was being mr.de. The act would net apply to sales rt public auction or on stock ex manges approved by the secretary of the treasury, nor to offers of shares >wned by hankers, brokers and deal ers to their customers in accordance with licenses granted by the secre arv. Establishment of a bureau in th? rcasury to administer the act and tppropriation of $450.000 for its ex >en s during the fiscal year ending rune 30. 1920. would be authorized >y the bill, which would become ef fective HO days after its passage by :ongress. Ship For President George Washington Ready to Bring Wilson Home. Drest. France. Fob! 13.?The U. S. '. George Washington arrived here r.a ?.? re ,?.-.,-?- President Wilson back o the United States. T#enty de (;??? <-rs will join the George Wash ^.gten on her return trip at the kzares as a presidential escort,