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WBR SCMTER WATCH?AX, Estab ^,. _ ? < Consolidated Aug. 2,1 REPLY WILL BE AN ULTIMATUM ?fiies Expect to Have Answer to Hons Counter Proposals Ready Thursday or Friday TO BE SOME MODIFI CATION IN TERMS The Concessions on Question of Reparations Will Be Made in Form of Supplementary Agreement. Paris, June 6.?(By the'Associated Press) .?There are still many loose ?ehds to the determinations which ?must be made before the reply of the allies to the German counter propos als can be submitted to Count von BrOdkdorff-Rantzau, head of the.Ger man, plenipotentiaries, and even the question of principle regarding changes in the treaty has not been definitely settled. Nevertheless the members of the commission of experts profess confidence that thej* will be able to complete their reports to. the council of four by Monday or Tuesday and the members of the council them selves seem sure that they will be able to present the allied reply on Thursday or Friday. The reply will be submitted as an ultimatum with a short time limit, .probably about four days, in which Germany vwill either have to take or leave the conditions as offered them. The most important modification tmder consideration, namely, the ques tion of reparations, probably will not involve any material changes in the treaty as originally presented. The concessions will, instead, be presented in the form of a supplemental agree ment, defining the procedure for the reparations commission and prescrib ing certain instructions for that body, which, according to the original 'draft of. the treaty, was given a most com- i Pf^hensive power of action, subject qnljr'to the instruction of the powers represented on the commission. . J^b new solution, which is expected to-merge from the deliberations of .the exnerj^w?l dodge fixation of a defi ttfte monetary fotai for" reparations to".-Which the French object on the ground that announcement of any j sum which it is considered "possible to j exact in payment would so disappoint the expectations of the French public ' as to cause a political upheaval. j The supplementary agreement also; would meet the objections of the Gei*-' mans, who declared they were to be ' asked to pay off a debt the extent of Which was unknown, and with The population in virtual economic slav ery to the reparations committee un der that clause of the treaty requir ing Germany to "devote her economic resources directly to the physical re storation of the invaded areas of the allied and associated powers to the extent that these powers may deter mine. The instructions to the reparations commission in the proposed supple mentary agreement would enable the Germans to know at once the amount of reparations due under certain "cat egories" of reparations, such as pen sions, separation, allowances, mainte nance of war prisoners and the de struction of ships at ? fixed figure per ton. It was found impossible, how ever, to fix any total sum for all cat egories, since the cost of reconstruc tion and restoration in the devastated regions cannot be established unti? after an extensive survey, and the only general e. imate on which the ?French are wiling to act would bring the total to 250,000,000.000 francs, which the experts quite generally agreed was beyond Germany's power to pay. In addition to learning at once the definite instructions on which the per manent commission will act. the Cer mans will also be assured that a cer tain amount of working capital will be left them .including probably ton nage for overseas trade, without which, they profess inability to make the required reparations. It is understood that the question Of a plebiscite in upper Silesia vprac tically has been decided affirmatively. No change with regard to responsi bilities, punishment of the former em peror or disposition of the German colonies is regarded as probable. The changes in reparations probably will delay presentation of the reparation clauses in the Austrian treaty, which Will be made to conform to the Ger 2nan provisos under the principle of joint and several responsibility and administration by the same permanent commission. Berlin More Hopeful. Berlin, Thursday, June 5 (By the Associated Press.)?While the German correspondents at Versailles con tin ue to take a gloomy view of the forthcoming answer to the * German counter proposals, official circles in Berlin judged wholly by surface in dications, appear more hopeful re garding the future irend of events. The slight tone of optimism which has projected itself into the Berlin estimates of the situation are born of th? conviction that a basis for verbal negotiations is gradually being created a position for which Count von Prock dorff-Rantzau and his colleagues in the peace commission have been man euvering diligently since the first notes were exchanged. Suspicion pre vails In some quarters in the Wilhelm gtrasse that the entente probably will feted April, I860. "Be Jut I 88L DR, DERNBERG STILL INSISTS I Says Impossibel For Germany i to Meet Financial Demands Of Peace Treaty OR FOR ALLIES TO i MAKE HER PAY i I Reiterates Statement that Ger r i many Will Not Sign Terms'. i London, June 7.?Germany's in lability to meet the financial oema: ! of the peace treaty and inability of ' the allies to make her pay are insisted I upon by Dr. Dernberg, German miu I ister of finance in an interview with 'the Daily Mail's Berlin correspond ent. Dr. ?Deimberg: reiterates'his re 'cent declaration that Germany, will I not sign the terms as presented. Senate Starts I Treaty Hunt Resolution Adopted Calling on State Department for Text Washington, June 6.?Resolutions asking the state department for the test of the treaty with Germany and directing the foreign relations com mittee to investigate how copies of the unpublished document have I reached private hands in New York were adopted by the senate today without a roll call. Action on the two proposals came unexpectedly during a lull in the stormy debate they had aroused, and scarcely a score of senators were in the chamber when in quick succession the resolutions were put to a vote. It generally had been conceded that each would have a majority. The request for the treaty will be referred by state department officials to President Wilson and Secretary Lansing at Paris and pending a reply no official op?nfqa*is available here as to whether the text will be forthcom ing. Under the investigation resolution, introduced at the request of the White House by Senator Hitchcock of Nebraska, senior Democrat of the re lations committee, it is expected that a far reaching inquiry will begin within a few days. The committee will meet Monday to formulate plans which may include the summoning of members of the'American peace dele gation. Adoption of the Hitchock resolu tion came first, just after the debate had reached a dramatic climax in a ! clash between Mr. Hitchock and I Chairman Lodge of the foreign rela ! tiens committee. After this clash a re i quest by Mr. lx>dge that the senate [substitute an investigation resolution j drawn by Senator Kellogg (Republi can) r- Minnesota was withdrawn I and t luestion was put on adop j tion. i The resolution asking for the treaty .text (introduced by Senator Johnson ; (Republican) of California then came i up automatically under the senate j rules and it was disposed of within ! less than a minute with only a few j scattered "noes." j It had been opposed stubbornly ; during two weeks of debate by the j president's supporters and the genera' 1 expectation had been made that the j vote on it would be close. ;R. R. Administration j Has Received No Offi cial Word of Strike ! Washington, June 7.?Railroad ad ; ministration officials had no official word of the Norfolk-West em strike, j but started an inquiry after reading the press; dispatches. j Paris. June 7.?President Wilson j visited the tomb of LaFayette today iarid placed thereon a bronze wreath, ;a duplicate of that he placed when ;ie : first arrived. : avail itself of neutral intervention by f way of breaking the ice. Political observers here believe that Count von Brookdorff-Rantzau at present holds a tslight strategic ad vantage for reasons outside those that might be contained in his coun ter proposals. Tho trace of optimism which has been asserting itself m the past forty eight hours is explained by events which it is believed here will ulti mately work out to Count von Brook - dorff-Rantzau's advantage. These fac tors are to be found in the Paris strike, fresh Polish aggrandisement. French machinations in Rhenish Prussia and the reported American and British opposition to the entente terms all of which, it is believed in Berlin, are conspiring to bring the entente's alleged adamantine front into immediate jeopardy. German optimism is by no means over reaching itself. It is based rather on the expectation that in view of the liberality and boldness of th" German counter draft the entente leaders will not dare to assume the moral responsibility of slamming th^ door in the face of Count von Brock dorff-Rantzau and his fellow envoys. ind Fe?r not?Let an the ends Thon AI SUMTER, S. C, WEDN PEACE TERMS PLEASE WILSON ^Treaty Violates None of Prin ciples Advocated by, President I CONFORMS TO ALL OF FOURTEEN POINTS I i If He Did Not So Believe He j Would Make Known His Ob j jections, Says Wilson. Paris, June 6.?"I am convinced our treaty project violates none of my principles," President Wilson is quoted by the Maiin as having1 said when he was acquainted with the German proposals to the peacetreaty. "If I held &? contrary opinion I would j not hesitate to confess it and would I endeavor to correct the error. The ) treaty' as drawn. howe\ er, conforms j with my 14 points." (Red Leader is Executed Lenine Nissen Convicted by the Bavarian Capital Munich, Thursday, June 5 (Ey the Associated Press)?Levihe Nissen, the Eolsheviki agitator who was one J of the leaders of the Munich Com | munist Soviet regime, was executed j at* noon today at Stadelheim outside ) the capital. He was convicted yestert I day and the Bavarian cabinet refused jto commute his sentence, maintaining I that he was the cause of the civil j war in Bavaria and deserved no i mercy. - j It seems probable that Levine Nissen, named at Bolsheviki, is identi i cal with the Bolshevik leader who has figured so prominently in the press dispatches in connection with the Munich Soviet regime. The arrest of the Communist leader, J "Levine," who had previously been j refered to as editor of the Red Flag, of- Mowiiflb? was announced in a nich message of May 15 and a dis patch earlier this week reported his sentence to death after a two day's trial. I'nrest in Germany. London.. June 6.?The execution in Munich of Levine Nissen Ms resulting in unrest throughout Germany, an Exchange Telegraph dispatch from Copenhagen says. The majority S? j cialists are joining a strike movement ! begun by the soldiers and workers j council and executive committees of 'the Greater Berlin factories which 'protested against the sentence of the j Bavarian Communist. I Strikes have cccured in Nurem j burg and Munich. A strike at Leipsig j has resulted in street lighting. The ; German government, it is added, is j making military preparations in Ber ; lin and elsewhere. jAustrians Return to Paris j Peace Delegates Have Been j Home to Confer With For eign Minister - j St. Germain, June 6.?Dr. Carl Ren I ner, chancellor of German Austria, and j at the head of that country's peace j delegation, who with five colleagues has been at Felkirch for a conferee ! with Dr. Otto Bauer, the German ] Austrian foreign minister, is expected i to arrive here tomorrow. j _ j I Rhine Republic Asks Protection j They Fear The Revenge of Prus j sian Militarists I _ Cologne, June 7.?President Dorlen i of the Rhenish republic has telegraph ; ed the commander of the British iarmy of occupation announcing the I formation of the republic and repudi ating any desire to evade their just ; share in reparation of war damages, j Ke appeals to the entente powers to ! protect the new state against the in- ! I evitable revenge from Prussian rnili ? j tarism. i j_1 Strike on Pacific Coast j Telegraphers Will Be Called Out j Next Week j San Francisco. June 7?A strike! 'of union telegraphers throughout the; ! Pacific States will be called June; t ilth unless their demands are com-1 plied with, according to local union officials. Pall Mall. Tenn.. June 7.?Today is lAlvin C. York Day in Fentress coun ty in honor of the world war hero, j Near The York homeste ad the eouniy :; people gathered at a big picnic din-, ner and^later witnessed York's maiv'j f-rin**"** to f'7'ncio WiPfoms which wrr?) performed by Gov. Roberts. Prom'-j i-T.t citizens of Nashviie. Knosvilb*.* Chattanooga and other cities came for| i the celebration. ? mst at be thy Country'*, Thy God's I ESDAY, JUNE 11, 1919 BEAR GAMBLERS DEPRESS MARKET j i ? ?r i Mr; J. S. Wannamaker Issues Statement on Cotton i Situation , iSAYS FARMERS SHOULD I HOLD SPOT COTTON i _ j I Crop Conditions Worse Than j When Manipulators Broke the I Market. 1 _ ] Columbia, June 8 ?Skottowe Wan namaker, president of the American Cotton Association, issued the follow ing statement this afternoon: The same bear speculators who manipulated, the cotton market in j 1918 so flagrantly that, as result of the depression in price of raw material as compared with the manufactured product, cotton mills showed earn ings unheard of in many cases, the earnings far exceeding the capital in vested by the mills, are today again j depressing the exchange market, and j of course, in like manner, depressing ! the price of spot cotton. They are disregarding the law of inflation which is. unalterable. The basis of the in flation of 191.4 when the gold reserve was $600,000!o00 as compared with today when it is $1,800,000,000 shows a ratio of three to one, which would make cotton w< *th 39 cents per pound as compared with 13 cents per pound in 1914. i In addition to this the United States ! census ["reports that American mills held on April 30, 1.3.78,000 bales against 1,808,000 for the same time last year, a deficiency of 430,000 bales j To make up this deficiency and supply the wants, leading mill men state. ! will require the 1st of April and the 31st of July, 1,506,000 bales. At the outbreak of the European war foreigr mills held of American cotton 2,700. 000; today they only hold 1,200,000. making a deficiency of 1,500,000 Therefore, the American ~mills anr Europe will require 3,400,000 from the present supply within this period JJn addition to this in order to fill thf (extra demand on them, they will b< ! forced to run extra time, which wir j require a large amount of additiona ! cotton. I The spinners who are today hedg j ing spot cotton in New York bought ! in the S?rth will face an unpleasant 'position with the bear speculator when I they attempt to close these shor! \ sales. The demand for the actual cot J ton will far exceed general expecta tions and will force the buyers to de I niand spot cotton. In the government ? report California, a very small cotton [producing State, is included at 19 per i cent. This, of course, has a bearing j on the general average and should be j taken into consideration. Crop conditions are much poorer to j day than before the manipulators ! broke the market. Excessive rains 'abandonment of acreage on account o* ? grass, boll weevil damage and acute j labor conditions all make an extreme I ly small crop inevitable. God seem? I to be assisting the farmer in his effort ! to reduce the size of the 1919 crop j The amount of cotton sold to be de i livered in July and October is record i breaking. Gotten is being shipped tc I Europe today on consignment. Eu i ropean demands will ?)e limited only J to the carrying power and will ex i ceed anything: ever recorded. Wher [ the shorts attempt to cover in July land October a surprising condition I will be brought about and much high ! er prices are inevitable. The law of j supply and demand, inflation in thf j currency and crop conditions canno' ! be permanently ignored. Spot cotton will sell at the highest ! price since the War Between the i States before this time next year. Thf ; man who holds his cotton will reap a i bountiful reward. Do not sacrifice ; spot cotton to the bears and the man j initiators but hold it and receive th' j benefit of higher prices. We are de (lighted to see the spinners make enor ? mous profits and do not blame then I for the action of the bear manipula I tors who brought about this condition ;. but at the same time we do most ! strenuously object to the producer be 1 ing forced to always play the part of j the goat, and we feel that he should I share in a part of the prosperity. -" Laborers to Be Released Soon I Negro Agricultural and Indus trial Workers Will Be Dis charged from Army Washington. June 7.?Negro agri cultural and industrial workers, serv ing iit present in labor battalions in Southern camps, and much needed j just now in their home rommvnities will be released from the array as rapidly as they can be replacd with j hired civilians, according to assur- j ances given Senator Dial by the war! department. - Berlin, June 9.?The constitutional ! convention has completed considera tion of a bill creating a state court j which will try those accused of start- j ing. lengthening and losing the war. It will be presented to the national assembly soon. Deliberations of the court would be secret and there would i be no appeal from its verdict. 1 iai Trat--? THE TB?I ? Q??----K___iii i ifii ii iMi__ag-_b?t_ n aw.i f-wnaia i? WALL STREET i SEEKS CONTROL Plans Being W*ie To Dominate Cotton and Similar Corporations j FINANCIERS TALK OF CENTRAL CORPORATION I Co-operation of Government and of Commodity Export Corporations Expected. i _ ' Washington, June 7.?With a view to quieting the unrest in Europe by hastening a return to normal econom ic conditions, financial interests in New York, with the assistance of the federal reserve board, are giving con sideration to the formation of a group of export corporations for wool, cop per, steel, tobacco and other Ameri can products similar to that organized to handle foreign sales of cotton. It is planned to give the group cor porations the backing of a central se curities corporation which would draw its funds from the investing public, furnishing, perhaps, hundreds of millions of dollars to finance the shipment of raw materials to the countries lately at war so that they may return to work and pay off their debts to this country. Government officials believe that no important; project now is under con sideration as a reconstruction meas ure and point to the disturbed condi tions of the foreign exchange market as necessity for some action to end present abnormal conditions. Operations of the International Cot ton Corporations will be watched closely by bankers and the result util ized in the organization of other group borporations as may be needed, a great advantage in having a concern to handle each material being funds to start work can be raised in the sec tion of the country most \'itally In terested in that particular industry. As the initial funds of each corpora tion are exhausted by financing ship ments abroad, they would obtain ad ditional money ' from the central se curities corporation which would take as colateral the European se curities pledged to the group corpora tion and the obligation of that cor poration. With such ample security and the possibility of offering an at tractive return, perhaps, 6 per cent., it is believed debentures offered by the central corporation to the public would find ready sale. It is planned that the central corporation would be flexible in organization, starting with i small capital and enlarging as the export financing developed. Present world conditions are point ed to by government officials as evi dence of the need for some such ma chinery as it contemplated in the ex port and central corporations. Long term credits are needed by Europe and raw materials rather than finish ed products except where the latter ire to be used in reviving producing powers. Belgian interests, which re cently obtained a short term credit of $50.000.000 jn New York, have oeen unable to utilize any of the mon ?y because the exchange rate is so ad verse that the money would cost, per haps, 30 per cent. An even worse sit uation exists in France and in Italy, "n the opinion of financial experts, and will continue for several years until ?hose countries rehabilitate their in dustries and reduce their indebtednes3. Government credits to the allies now total approximately $9,3i0,000, 000, leaving only $690,000,000 of the amount authorized. That, is too small, "t is believed, to finance the exports I needed which is said to be another reason for the need of private initia j tive in solving the question of credits. The war finance corporation is said to be ready to take the obligation of the exports corporation if the pub'ic docs not. although the latter oon-j tingency is not expected. | ?? 1 ? ? ? ?** Shooting in - Aiken County I Aiken, June 8.?Sibley B. Smith, a i white farmer, who resides near the | Beech Island section, fatally shot j John Luchie, a negro farm hand, tear his place Friday afternoon, j From the evidence submitted at the j coroner's inquest it appears that the | negro refused to go out to work be- j cause it was too wet. His employer. \\ Smith, then told him he believed that' Luchie was making moonshine liq- \ uor for the rest of the hands and th??t he would report him to the authori ties. Luchie. it is alleged, walked back ; into his cabin as if to secure a wea- I pon. remarking at the same time that | he Would "turn., someone else up." j Sibley Smith then left for his home j and had hardly reached the place! when, lookincr from the window, he j saw the negro coming toward his j house. As Mrs. Smith was ill and if : was feared the negro would annoy:, her. Mr. Smith went out to meet the ! darky. At the inquest Mr. Smith testi- :< fied that the farm hand drew a pistol . and fired point bla.nk at him. where- ?? upon Mr. Smith shot him down with ; a shotgun. 1 The negro bore a bad reputation ? l and has given the authorities trouble. Sibley P.. Smith is well liked and re- ] spected in this and his own com- < munity. He was permitted to givv < bail this afternoon before Judge II. F. i 1 Rice. , - . a S SOUTHRON, Ertaubtet Jus. *** Vol. XLVIII. No- 34. CONGRESS HAS I PEACE TREATY Chicago Tribune Copy Presents ed in Senate To-day by \ Senator Borah ORDERED PRINTED IN ; CONGRESSIONAL RECORD It Was Received by a Partisan Vote of Forty-Seven to Twenty-Four, Washington, June 9.?A copy of the German peace treaty said to hare j been brought to this country by a i Chicago Tribune correspondent was $ presented in the senate today by Sen jator Borah and by vote of forty-seven I to twenty-four was ordered put in the congresional record and printed as a public document. Washington, June 9.?President Wilson, in a cablegram jreceived today, by Senator Hitchcock, said he hoped the investigation by the senate foreign relations committee of how copies of the peace treaty reached private in terests in New York would "be most thoroughly prosecuted." President Wilson said he felt it was highly undesirable officially to com municate the text of a document which is still in discussion and sub ject to change and that anyone.who had in his possession the official Eng lish text ' has what he is not entitled to have or to communicate." This statement said the president, strength ened his official decision that he would not comply with the request of senate that the treaty text be furnished at this time. The full text of the "peace treaty with the central powers, which has been discussed in the senate for a week or more, has been brought to this country by Frazier Hunf, k the Chicago Tribune correspondent and is being syndicated to newspapers fn^thjts. country in copyrighted sections.' ^e:' first section appears today. Hunt says the copy of the treaty he hrojight here is one of the original ^draft and ? was obtained in Paris. Railroads Must Pay Big Debt Director General Says Funds Should Be Returned "As Rapidly as Practicable" Washington, June 8.?Railroads under federal control should be re quired to return to the government "as rapidly as practicable" ?775,000, 000 advanced for improvements and j equipment, Director General Hines told the house appropriation commit : tee at his appearance last week, ac cording to the printed record of the hearings which became public today. ' "These improvements have been made for the benefit of the railroad companies." the director general said. "They have received a very important benefit from government' control,. guarantee of a rental which repre sentedMhe average of probably the best three years they ever had, in stead of having to face, as public, utilities throughout the country did, the danger of imminent bankruptcy. on account of the great increases in costs. "When the railroad administration:' has put in funds with which to pay she railroad companies what it owes them, my judgment is that they ought to be required just as rapidly as pos sible, to reimburse the government for these large amounts that have been spent and as far as possible to reim burse the government for the amounts which will be spent during the rest of this calendar year. "Our settled policy is that for the future wo will make no improvements on railroad properties unless the rail roads undertake to finance them, ex cept in extreme cases where an im provement is absolutely necessary and where the companies are wholly un able to finance it." Officer's Home Fired On Coblenz. Friday, June 6 (By the Associated Press).?Investigation by the military authorities today failed to reveal the identity of the person who fired three shots Thursday night at the. house in Coblenz occupied by Gen. Malin Craig, chief of staff of the third army. It is said that the name of Gen. Craig is the third on the Ger man secret list of marked Americans. Paris. June 9.?Premier Clemen ceau. Col. House and Lord Robert Ce cil have reexaimned the terms und<H" which nations othe** than the founder members may be admitted to the league of nations. Their report will be submitted to the council of four to day, it is understood, and conditions recommended for Germany's admis sion are a reestablishment of a stable government, signing of peace treaty md local execution of the peace treaty Berne. June 7.?The German rat ional assembly will meet today with members (of the government and members of the German peace mis sion for a joint conference over the status of the Versailles peace nego liations, the Berlin Gazette announc ed. -*