The watchman and southron. (Sumter, S.C.) 1881-1930, August 10, 1921, Image 1

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!THE SI3ITER-WATCHMAN", Esta CONSOLIDATED AUG. 2,1 t ll TH DO NOT AGREE jDarftlina Sena on Different Sides of Cotton Contract Ques tion Washington, Aug. 4.?Speaking jni>ehalf of his bill to amend the Smith-Lever future trading act by prpviamg for actual deliveries of cotton on future contracts, Serator Dial" (Deniccrat) of South Cavo&na today declared that the cotton crop sometimes was sold "25 times over" by future trading, thus depressing spot prices. Present practices,. Jhe -[ said,^ amounted to "confiscation" of cotton in some instances. He ur^ed coiigress to pass a "just" Jaw, giving { buyers and sellers the right to choose half of the grades for, deliv ery, as proposed by his bill. Senator Smith, his colleague, however, opposed the bill denied .? .that the present law was-, "unjust. u?farr or* discj^minatory" if prop erly administered. Rulings of the federal government and cotton ex changes regarding cotton garding, he said, were largely responsible for discrimination against growers., .v Most unfortunate, Senator Smith i declared, was the government order against use of cotton below mid dling grade in government mater - ialav. ? That there were '"fictitious and nnawarranted" differences made now in prices between middling and lower grade cotton was assert ed by Senator Smith. What is need ed, he said*, was an amendment to the "present .cw **taxing out of ex istejaets" future contracts which provide for an unfair difference in price between different cotton grades. Mr. Smith presented cloths aad yarns tested by the government which, showed, he said, that in tensii strength, .bleaching and other Qualities the. product from "iair ordinary" cotton was as good as that made from mmdling cotton. Senator Diala?selaimc^-any at tempt to "put'fcha*c?tton exchanges out of bussnesSk **I am not prepared to -'say that they, ought not to exist," he said. "Sometimes I think they should not and "sometimes 1 think they should. ' But if they can not exist u^nder an honest law, for God's sake jet.thein get. out of business and the 'quick^ | ec? the better." * ? Senator Dial said he wanted .cot ton, contracts which woulof. repre sent actual cotton?"an honest con- j. tract which provides that if a "man sells, a thing he may be forced to should not longer be tolerated, in deliver it or something like it." That system has grown up which the differences between different J. grades, was asserted by Senator Dial. ? Present low prices, he said, were due in large measure to pressure from future trading. Senate* Smith argued that the law should be changed to "fix the ^difference" between the spinning qualities of cotton, by determining the percentage of loss in the lower grades. "Manufacturers should be rer quired to give the price'for the ac tual intrinsic value of cotton" said Senator Smith. o ? ? - John T. Muldrow Dead Columbia, Aug. 6.? I. T. Mu> drbw. uncle of Mi's. J. M. Ariail of Columbia cohege aad member oS one of the ohhst a^>d most promi rent families of Lee county, died at a. Columb.'a hospital at an early hour yesterday rodrning. For sever al naontiis h> had be*? In failing health and his critical condition the last few days made the vi:d r.oi unexpected. John Thomas Muldrow was born in Bishopviiie, August 21. 1S53. lie was the son of the late (\ipt Thomas M. M uldiow and Sarah Fulton Muldrow. He was educat ed at BIngham Military Aca1ei?.y, where he was the roommate of the lato Jacob T. Baron of Colum bia?a relationship that only death broke. Mr. Muldrow was a gentle man of the old school; quiet, mod est,, sympathetic and innately courteous. For many years he w?s one of the largest and most pro gressive farmers in Lee County, hut in recent years he retired and has made his home with Prof, and Mrs. J. M. Ariail of Columbia who will be grieved to learn of his death. Mr. Muldrow never married. Be sides his niece, Mrs. Ariail of Co lumbia, he leaves another niece, -Mrs, T. M. Law of Bishopville. and the following nephews of Bishop ville; II. G. Mujdrow. T. M. Mul drow, J. E. Muldrow and W. F. Muldrow and Fulton Muldrow of Arizona, and a large circle of rela tives and friends. The remains will be carried to Bishopville on an early train this morning and services will be con ducted in the Presbyterian church by the Rev. R. C. Reed. D. D., of Columbia Theological seminary. 0 ? ? Washington, August 9?Charles J K. Forbes, bureau war risk Insur ance director, has been nominated I by President Harding as director j of the veteran's bureau, created by I the Sweet biU, which was signed I today by president Harding. M ? ' biished April, 1850. - Cv . 881. ONTHESTA! ?' Governor Harding* De j lends His Policy of Deflation and Re striction of .Credits Washington, Aug. 4?Credit pol icies of the federal reserve system ;c3>ntinued under examination of congressional committee today, in a continuously stormy atmosphere jti^tth Governor Harding of the re serve board as the sole witness, j "The federal reserve board did "not create this financial depression" Governor Harding exclaimed toward | the end of the day. "It siw it com ing and got ready to protect things, and people ought to be grateful it did sc. Now all we need is cessa tion of pessimism wh'.ch narks bad : times as foolish optimism marks i good times. We all know now ev ?erybcdy was going crazy in the .{?oom during the fall of 3 93 9. ! "This situation is going to work 'out. There's no comparison between the condition a year ago and con ditions today. Take cotton, with a low yield, and exports .picking up. Banks everywhere are fully justi fied: now in carrjing loans. "All we've got to do is to get out of everlasting pessimism, and quit saying everything is gjing to the dogs. Why, a man has to put up a good, cheerful face if he wants credit. You can't talk to the bank er like you do to the tax assessor." . Previous^ a sharp passage had taken place in which Representa tive Funk (Republican) of Illinois, Representative- Mills ( Republican) of New Ycrk and later Governor Harding participated. "I'm keenly usappointed," Rep resentative Funk said, "because t?e reserve system has been challenged, complained of, criticised and charg ed on the ground, that it has dis criminated, against agriculture and we've not-heard one word from this] witnesa** Representative Mills -'leaped to the'fray; asserting that'the commis sion had "allovred John 'SkeTtqn Williams, former comptroller of thei currency, during two days^to make j &tds to '^an,^.: your.lA#vi^,,-i>u I'll"handle.,mine," w^e.-,Caaty:man.. Anderson ruled that."the governor;.| was "within his rights." j "Has me reserve board called m farm credits?" Mr. Funk demanded later "No, sir, it never has," Governor Harding retorted. "How about the circulars of the San Francisco reseve bank," Mr. Funk continued, "concerning the price of wheat in 1920?" "I never heard that before," * . - governor Harding said. "Did it t;ause a break in wheat prices?" "It had some effect," Mr. Funs responded. "The bo??,rd has cautioned re serve banks not to issue circulars," Governor Harding continued. It's the job of a banker to look to the value of his collateral, but to do ii In a. quiet way. It i.-; not the func tion of the reserve system to regu late prices, up or down, but to maintain credit." "In general," Mr. Harding said, "the attitude of, the reserve board towards agriculture has been great ly misunderstood anu grossly mis represented." ! "The whole trouble with the re serve system in meeting agriculture demands is that reserve banks do not and can not lend to iudivid Ual borrowers," he added. "The paper of borrowers must get into hands of member banks before it gets to the system." ?. Giving the history of increases of rediscount rates in 1919 ami 1920. Governor Harding asserted that Mr. Williams, one of its chief critics h.->d partcipated fn the rulings. The ideal system, he said, would be to maintain rediscount rates just above the market rates on money, thus avoiding inflation and yet of fering practically unlmit?d credit. Legal limitations, he said, gov erned the board at all times and control of credit polV .cs ought and did center upon the 12 federal] district reserve banks. "Curiously I have never heard a complaint from one bank in the Atlanta district which Mr. Williams charged had to pay 87 per cent on reserve borrownsrs," Mr. Harding said, "but the board after learning of the extreme instances of penal ties and charges which resulted from the progressive rale pystem, now no longer in effect, did ord.-r money returned to every member bank in excess of 12 per cent. The! amounts were small, about $30,000 in the United States, and in the ex treme Alabama case the total re turned ws $2,281. Governor Harding gave a detail ed explanation of the restrain imposed on credits during what he referred to as the "crisis," declar ing that their principle was that of penalizng borrowers who took cut of the federal reserve system sums disproportionate to their own resources. Tables, charts and ex planations were left to be deait with tomorrow. Just and Fear Representative Frear ?of Wisconsin Bitter ly. Opposed to American Dye Industry Washington; Aur. 7.?The charge that ' the uyjet monopoly iieaded by the Chemical Foundations company I has sought to influence the mem- J her.-; of President Harding's cabi net in an effort to perpetuate its present exclusive power in this country" is made by Representative [?Frear (Republican) of Wisconsin, in a letter to Chairman I^enrose of | the' senate committee considering, the. tariff bill. The communication* j was niade public today by Mr. Frear with the announcement that copies had been sent to the presi dent and to others "who would seem to speak with authority .on matters" contained in it. The Wisconsin member, who led the successful fight in the house against the dye embargo in the Fordncy bill, referred specifically |to the letters written to Senator I Penrose by Secretaries Weeks and Denby who urged continuance of Iho embargo so that the country might be provided jwitb chemicals in the event of war. Mr. Frear al so declared that Attorney General Daugherty had failed to acknowI-?| elgc or act upon bis letter of July 18, asking that legal proceedings be instituted to set aside the Chem ical Foundation company. j "No invisible government," said Mr. Frear, "has ever shown more brazen effrontery than this dye monopoly. We may well be con cerned ever the power cf these dye interests that reach to three cabi net -officers in their effort to per petuate their present exclusive power in this country. Not one line of.evidence in all the hearings, I am Informed, suggests that this gov ernment dei^ended 'upon or receiv ed aid from any dye establish ments in the country during the recent war and the argument that we should preserve? this half bil lion dollar domestic dye' monopoly with its excessive prices and enor mous power because of approach ing 3v?jr__aiid__i^^ vate. protection is both preposter ou.s,: and. t ridic-ul ou:;. . "Secretaries _">>>? e,ks .and Denby jars, repeated by tin; press to have written .your committee- simultane ously that the .dye embargo should be continued for that reason. If so, they certainly had little infor mation on which to base such statements and caution is thrown to the winds when dye interests bring these two letters to your com mittee 6n the same day to influence eortinVittee action. ~* "I have no fear of their influence either in your committee or on the body you represent, but I do ex press concern over any power that can secure such letters from such high sources, and more important '.hat apparently has endeavored to smother efforts made to have the government bring legal proceedings in order to set aside the Chemical Foundation company. Failure for practically three weeks to re^e'v any reply from the attorney gener al is an unusual oversight by a department that represents the congress as wi ll as the administra tion and it is impossible to believe failure to acknowledge receipt of an official courteous letter was due to an <oversight." Cotton Price Conference Columbia, 'Aug. 8.?Cotton In terests of the states are interested in the reports from Asheville. N. C., that Governor Morrison, of that state, will probably call a confer ence oi Southern growers at-Ashe viJP- in the Fall, to ascertain the world's demand for cotton, the cost ? if production, and the price to be fixed by the planter and if possible to work out some scheme of finan cing the crop in order to maintain priees so fixed. It is stated that Covernor Mor rison holds the right to call this conference, by virtue of powers vested in him by the last North Carolina legislature. He will, it is stated, request governor's of all cotton states to send representatives to the conference. Diversification will be one of the subjects discussed at the Asheville conference, it is stated. Of neces sity the South has begun to diver sify its crops, as pointed out by ? ?otton men here. Put the idea must lie made permanent in the agricul tural life of the cotton belt. Its importance cannot be minimized or forgotten. "Cotton is the South's money crop, but her permanent prosperity and progress rests in 1 di. ersification." -c Drown at Wrightsville Wihmington, N. ('.. Aug. 7.?Miss Louise Parks Sloan, of Statesville, X. C, 1'1 y.-ars. and Marion Avant, VVihnlngton, -i years, lost their lives In the surf at Wrightsviile Beach. ?iear here, shortly after 8 o'clock this morning, having been drawn by the. current beyond their depths. Both bodies were recov <*ed. ^ j^dGiS m te.sm Not?Let all the ends Thou Aims't Sumter, S. C, Wednesd; bigger the i crop the less money Cotton Crop of 1920 21 Valued at Less Than Half the Smaller Crop of 1919-20 New Orleans, Aug. 8.?This year's cotton crop is valued at ap proximately one billion and sev enty-six million dollars, less than half that of last year's crop by Secreary Hester, of the New Or leans cotton exchange, who said that it was remarkable how the i financial institutions of the south held up under the burden of this tremendous depreciation. Ibankerde^ fends reserve policy Go v. Strong of New York Federal Re serve Bank Ex plains Methods of Wall Street Washington. Aug. 8.?An expla nation of banking and monetary principles, which, he said, have controlled the federal reserve sys tem since its inception was given today before a congressional com mission by Governor Strong of the New York reserve bank in defense of charges that in its operations it has discriminated against agri cultural credit needs. Deliberate inflation by lowered interest rates .with consequent increased prices was resorted to during the war as a military necessity, he said, hut deflation and price drops in recent months, he declared, was not forc ed by the board but was inevitable and world wide. Higher interest rates by the- reserve system he de scribed as more or less incidental. . New York far from being favor ed, Mr. Strong asserted, had been subjected "to pressure by interest rates to liquidate greater than any other part of the country." Al though declaring the collapse of prices in 1920 wa3 the "most se rious in modern times,'* he told the commission that he considered tin? business situation well embarked now upon "a cycle of recovery" and cited industrial resumption, advancing prices of high grade se curities and lower interest rates as symptoms. "You can't very well administer [credit without some effect on prices," Governor Strong said, "but \ the banking machinery was not I operated with eyes on a chart of prices, to move them up or down. "The reserve bank rates." he added, "are a reflection of condi tions rather than an endeavor to I influence conditions and they are j an effect and not a cause." i Discussing charges that high call I money rates in New York drew money away from the interior, Governor Strong said they were rather an evidence that money had i first been withdrawn from New I York for use In the interior. In i spite of 30 per cent, interest there I at periods of the stringency, he 1 said, "the New York banks had to be begged at times to make call loans." in 1917, he added, "a money committee' had been set up i through the reserve bank to sup ! ply stock exchange funds and to j "prevent a runaway money mar i ket." From his cnarts and dia~ 1 grams the witness gave the con j elusion that the funds lent for stock exchange purposes had been con ! sistently reduced since 1919. He I will continue his discussion tomor ! row. ? ? ? Army Calls Citadel Men Charleston, Aug. 8.?Two more members of the class graduating from the Citadel in .rune have been commissioned second lieutenants, in the regular infantry. Thos. Whit field Ross, of Florence, and Thos. Williams Williamson, of Darling ton. Orlando Clarence Mood, of Sum merton, has already been com missioned in the infantry and John Oliver Kelly in the coast artillery corps, the first man to be called into the army from the Citadel's coast artillery unit. Several mem bers of the class have accepted commissions In the marine corps. While the army appointees are ranked as second lieutenants, it is knov. n that they will at once be promoted to first lieutenant, ow ing to the large number of vacan cies in the grade. It is believed that other Citadel graduates of the 1921 class will be given an opportunity for going into the regular army. The Greenwood City council has decided to adopt the budget system of financing the municipal govern ment. at ix* thy Cou?ir.r;s, Thy GocTs and ay, August 10, 1921 In Letter to Belfast Friends He Repeats Criticism of Sinn Fein Agitators Belfast, ?ug 8.?A letter from Rear Admiral Sims, acknowledging congratulations from Belfast com .raCea of the great v.ar on his re cent London speech, said that prac tieally all reputable newspapers in the United Slates are in thorough approval of our condemnation ""of the activities of Sinn fein sympa thizers- in the United States. He also said it. would almost seem like the incident were about to be transformed into an issue. WILD! STARTS FIRE 1 IN LONDON Unemployed Set Fire to Lumber Yard, s Causing $5,000,000 Loss London, Aug. 8.?Disappointed over their failure to obtain jobs at a timber yard here, five thousand unemployed men set fire to lum ber worth one million pounds and held back tfie tire fighters who tit tempted to stop the fire. Gaston'Means in Bad Again North Carolina Man Charges Express Company With Losing Money i Charlotte, i\\ C, August 5?The Southeastern Express company will refuse to pay the claim of Castor. Means, on account of the alleged loss of $G7,(J00 which he claims he shipped from Concord, Z\. C, to Chicago on .June; 22 last, aha Is pre pared to ??n>vc that no money was lost from the package in transit, ac cording to Frank M. Shannonhouse, ?atorney for the company. ' "We are ready, willing and wait ing for an opportunity at the prop-' sr time and before the proper tri bunal to show that the very same package, wih the identical wrap pings, fast; nines and contents, that was delivered to us at Concord was delivered by our agent to its destination in Chicago," said Mr. Shannonhouse today. The package in question was shipped ""by Means to Key B. Keehn, counsel for Mrs. Mary Melvin, ad minis', rat rix of the estate of her sister, Mrs. Maude A. King, who was shot and killed near Concord four years aj,'o, and in connection, with whose death Mr. Means was tried and acquitted on the charge of murder. The remittance Mr. Means explained, was made in pay ment of a sum due by him to the estate of which he was manager prior to Mrs. King's death. Mr. Keehn claims, according to Means and the express campany, that, when he opened the package he found nothing but a block of wood. "We are in a position to prove," said Mr. Shannonhouse, "that the package sent from Concord was never out of sight of at least two employees of the transporting com panies from the time it was receiv ed in Concord until it was deliv ered to the addressee In Chicago. Hatfield's Slayer Claims Self Defense C. E>. Lively Issues Statement Declaring That Mountain eers StartecJ the Shooting Welch. W. Ya., August C>?Self defense is the claim of C. E. Live ly, the detective who is held for shooting to (bath of Sid Hatfield and Ed Chambers, the West Vir ginia mountaineers. In his state ment Lively said Iiis Ife had been threatened by Hatfield and when he approached the court house both drew pistols and started shooting. He returned the fire and Hatfield and Chambers were killed in the fusilade. -?o?c?o Virginia Congress man Dies Suddenly Danville, Va.. Aug. 6.?Repre sentative Rorcr A. .J?ans, of the Fifth Congressional District died j suddenly of heart disease at his home today while talking over the telephone. He was sixty-two years old. He was re-elected to the House of Representatives last No vember and has been a State lead er in Democratic politics for many years. I Truth's." American and British Represe ntatives Break Off Negoti ations Over Egyptian Cot ton Freights London, (Associated) August 9? Tiie negotiations between Ameri can and Britsh shipping represent atives over freight rates for Egypt ian cotton have been broken, off, ac cording to a central news dispatch. COTTON LETTER Furnished by McDowell & Co. Market was sustained today by continuance of the drouth in Texas and improving textile "trade ad vices, domestic and foreign. There has developed again a good demand for spots in Liverpool due to Lancashire being more ac tive, mills reported running five days a week. New York advices of a broaden ing demand for cotton goods with prices slightly higher and no let up in the inquiry for export. Manchester, N. IL, reports that 16,000 people have resumed work in the mills of the Amockcag .Mfg. Co., all departments running full time. Griffin, Ga:, wires all of the tex tile manufacturing plants here are now running on fall time, night shifts being employed in some of the mills. Labor supply normal with little reduction in wages Owners report steadily increasing -business and all view the future with optimism. It is evident therefore that north ern, southern and British mills are consuming much more cotton than recently, with prospects of trade expanding further in the future. There are some beneficial light to moderately heavy rains in Okla homa past twenty-four hours but no rah-.s of-?onsequenec fell in Tex^" as where needed most and there was more wet weather in the cen tral and eastern portions of the belt where not needed. . However indications are for gen erally fair weather for the great-, er part of the cotton region in the immediate future, which would likely bc'of benefit except in Texas wiiere rain is badly needed A peculiar feature of the situ ation is that while hot dry weath er lias prevailed generally in Texas the past few weeks, it Las not checked the activity of the weevil in all sections of the state, many sections complaining of further damage from the pest^the hot dry' weather notwithstanding. England is always much con cerned over Texas crop prespeets and conditions and as present indi cations for a very small crop in that important state on which Brit ish Spinners depend so much for their supply of the American pro duct. Liverpool and Manchester are likely to become alarmed regarding their future wants in event of the Texas drouth becoming acute by being prolonged much longer. Receipts for all ports since Aug. 1st, was 94,300 vs 27,954. Exports from all ports since Aug. 1st, 93. 5X3 vs 46,152. Stock at New Or leans 43H,1M vs 21.7,862'. New York today 1C5.7M vs 36,749. All ports today 1,326,317 vs 718,599. t NEW YORK COTTON. Ystdys Open High Low Close (.Mose Jan 13.57 13.75 13*1 13.75 33.59 Mch 13.80 14.01 13.78 14.00 13.85 May 13.95 14.06 13.90 14.05 13.9G Oct 13.22 13.32 13.10 13.31 13. IS Dec 13.65 13.7<; 13.52 13.73 13.63 Spots 10 up; J3.30 NEW ORLEANS COTTON Y'st'dy's Open High Low Close Close Jan 13.17 13.27 13.11 13.27 13.12 Mch 13.37 12.52 13.37 .13.52 13.37 May 13.41 13.GO 13.41 13.66 13.44 Oct 12.80 12.S6 12.64 12.80 12.72 Dec 13.1M 13.24 13.00 13.17 13.OS Spots unchanged; 12.13 LIVEKPOOL COTTON" Close: .Inn 8.86; Mch S.95; May 9.00: July 9.0i); Oct 8.75; Dec 8.86. Sales 10,000. Rects 4.100 all amn. Mid 8.44; G. M. 0.2!?. GRAIN LETTER Chicago. 111.. Aug. 9, 1921. Trading wan not large and even ing up In all grains in anticipation of the government report was un der way. The foreign news was bullish, if we consider the Russian situation but ir will take some time to develop If the Russians are ablei to pay for any grain, if there is dc dendence upon charity, tin- res: of tin- world Is not likely to help out soviet Russin: A change ir. govern ment oin that country would devel op ;i rampant market. The grain trade anticipate a bull ish report on wheat and oats and a bearish condition in coin. Think the market will do better tomorrow as tile report with the exception of corn will indicate very closely the extent of the crops. THE TItTJE SOt" South Carolina Sena tor Wants to Learn Secrets of Tobacco Trade Washington, August 9?The fed eral trade commission is directed under a resolution adopted by the senate, to investigate tobacco trade conditions, including-prices :o pro ducers and consumers. Senator Smith of South Carolina, author of the resolution .said that there is no market for tobacco and farmers are using tobacco for fertilizers, but price of ,cigars ana cigarel .. s re main at war time prices. ? ? ? . ? Lowlander in The Mountains Mr. Dabbs Writes From Tryon of Grape Harvesting; and Other Things Tryon, N. C, Aug. G.?Mrs. An nie Campbell of the Winthrop Col lege home management depart ment is spending two days with Mrs. Dabbs in the interest of the farm women's market bureau. Mr3. Campbell came from the heat of Georgetown where the humidity made the air almost unbearable and it was a glorious change to find that we were over the hot dry spell of the last two weeks. Co incident with her coming Thurs day evening showers broke the drought. All day Friday we were, either in the clouds or a gentle j rain was falling. Temperature j went to 60 and a fire was com fortable all the afternoon. To day the temperature is 70 which is; quite a relief after the 5)0 degrees of Sunday, Monday, Tuesday and Wednesday. But being a dry heat, i>u was not bad. The. grape crop is so. near a fail-' ure that next .week will see. the finish of harvesting and.-marketing. ? Friday morning Mrs.: Campbell'' was initiated into the mysteri?s" ^f j trimming, packing and' craung gi'eepfc;. The trrai>e8 were gather ed Thursday evening before the j showers. Then in the afternoon and Saturday she and Mrs. Dabbs' cooked the quince jelly that, is to ! tickle the palates of swell Pull man patrons. It looks .c.o good that 1 wish L were to be a dining car patron when this jelly is served. 1 am sure they '",'ill in crease the charges. This afternoon Mrs. Campbell goes to Greenwood for a demon stration Monday and Tuesday on to the end of the^week. She is to give instruction at the D. A. R. school, Thomassee, near Walhal la, S. C. We hoped to hear good news from boll weevil section while it was so dry up here, but it seems to have rained nearly every day in the old home section and yes terday's papers tell of 1 1-2 and 2 inches of rain in Columbia and Charleston. Very probably the cot ton crop is ruined down there. E. W. DABLS. ? ?>' Thrown From Motor Cycle Mr. Dudley Hodge, or Har vin's Seriously Injured Harvin, Aug. 7.?Mr. Dudley Reames Hodge, while riding Kar ley-Davidson high speed motor cycle this morning over the new highway between his home near here and Harvin raised both hands to salute a passerby, and the ma chine swerved, throwing him to j the ground, and dragging him i about twenty yards. He was for j a long while unconscious, and j suffered very serious wounds about the head, face, and chest, the ex tent of which is not yet known. Medical attention was immediately summoned from Sumter, and Mr. Hodge is now in the Tuomey Hos pital from whence reports state he is doing as well as can be expect ed. Several surgical operations will be necessary about the* face and head. Miss Virginia Graham, of Clio, S. C, is visiting Miss Zola Mae' Britton h^re. SftTiss Lynn DuRant of Manning Is spending the week-end with Miss Fiances Marvin here. Miss Alice Brogdon of Way cross. Ga. and Miss 1,11 lie Eudora Brogdon of Harvin spent the week end with their aunt, Mrs. Frank I Wells, Sumter. Mr. Samuel Howard and Jones of Brogdon, Is spending the week with Iiis friend Legare Har vin. Oneida. X. V., Au^. 9.?Frank Sager today shot and killed Miss Pearl Hook, seriously wounded her sister, and committed suicide in a jealous rase. j -? ? ? New York. Aug. 0.?Premier feenine has issued an appeal for famine aid "from the toiling indus trial workers and agriculturists of all countries," says a Russian ca ble. 1HROX, Established Jane 1, 1 VOL.LII. NO. 5: 8?* Governor of Federal Reserve Board As serts That His Policy Prevent ed Collapse of Banking Systems ? Washington, Aug. 5.?Reserve bank policies of 1919 and 1920 were formulated to prevent the country's banking system from collapse, and were successful in their object Governor Harding, of the reserve board, declared today in closing a two days' appearance before a joint congressional commission. To questioners he repeated time and again a decln ration that the board had not sought to influence prices, either up or down, but had prepar ed to meet a price break that was world-wide, and yet to maintain and expand credit lines. There was a bare possibility, ne said, that if in 1919 the reserve board had raised national redis count rates, "the run-away in price* might have been checked, and - the result might have been better," but he mentioned needs of the govern ment financing as influential in; de termining the course actually tafe en. Representative Sumner, Demo crat, suggested that "the word {?might have gone out" from the board to bankers to be fearful ^ of prices," but Governor Harding said that nothing had been done incon sistent with his statement "It wasn't a good time to be talk ing too much?in 1920," he remark ed, "hut we can be bolder now." He made a suggestion, that ' the commission might consider " the utility of the farm loan boards as"a means of extending ?short terni credits to farmers, for nine and twelve-month periods, but said he would make no detailed - recom mendation. Credit Horizon Limited. "All over7th'e country -we find that agricultural and live'stock in terests feel they need more credit facilities," he said,^"*%??^?$r*rui something to make themselves In dependent of banks. Tue farmers* credit horizon is necessarily limited and locdl. Any man hesitates about getting the government in business; and we can't use the re serve system for, that, because its', funds are essentially reserve funds, but I consider there is a possibility that the farm loan banks might be extended to meet the need. The question needs study."" Governor Harding denied that his administration of . reserve bank policies had deflated cotton priced "As the cotton surplus began to {appear." he said, "I tried to go as far as I could in my official posi tion to make the situation clear. I wrote a scries of letters to J. & War.amaker, the official head of the American Cotton Association, giving him my views as plainly as I could." He put the correspondence before the' committee, declaring that he had "urged producers to seH-_ at least a part of the crop, and lighten the load, and had worked to get export credit machinery establish ed. "The situation called for a si lence," he said. "Everything hu- f manly possible was done by the Federal" Reserve Board to heh>-the situation out." He emphasized his present bolief that cotton prices were stabilized, with a short crop in prospect, and that prices could be relied upon completely for all proper credit Operations. Nothing New Impossible Annapolic. Aug. 6?The trans mission of photographs and writ ten d'*vjment3 in facsimile across rlie ocean by wireless was accom pli:-, bed in recent tests at the naval radio station. A photograph of the Dempsey-Carpentier fight was sent to a Paris newspaper. Free Love and Death T."S Angles. Aug. 6.?John B. Kennedy, aged twenty-six, was shot and killed last night while entering his summer cottage with Mrs. Madeline Oberchain, aged twenty, of Evanston. 111. The girl said he was shot from behind by two men who escaped in the?* bushes. She said she had divorc-r ed her husbanr for love for Ken- ? nedy. ? ? ? . .. v Corbln, Ky.. Aug. 6*?Richard MeHargue .today killed his mother, wife and stepdaughter at their home here and then committed sui cide. ? ?? ? Washington, Aug. 6.?A shrink age in three months of three hun dred and thirty million dollars In the etsimated government income far this fiscal year is based on the present revenue law. is disclosed by the statement presented to the house ways and means committee by Secretary Mellon. Copenhagen. Aug. 6.?Nikolai Lenine> Russian Bolshevik Premier is seeking British permission ,to spend his vacation in Scotland.