The watchman and southron. (Sumter, S.C.) 1881-1930, December 23, 1922, Image 1
THE SUMMER WATCHMAN, Est
CONSOLIDATED AU?L 2,
CONSIDERS
THE_STRAITS
Control of tile Darda
nelles is Now the
Prominent Issue Be
fore the Lausanne
Conference v
Lausanne, Dec. 18 (By the As
sociated Press).?The subcommis
sion of the Near East conference
which is considering: the various
plans for 'regulation of the Turk
ish straits adjourned late this af
ternoon until tomorrow without
'having reached any decision.
The plan presented by M. Tchit
cherin for the regulation of the
Turkish straits was given out in
summarized form:
Chapter 1 provides for confirma
tirn of Turkey's sovereignty over,
the straits, the latter being defined 1
as including,, the Straits of Darda-r
neJ3ea, Sea of Marmora, the B?s
phorus and the Aegean islands.
Chapter 2 specifies the regulation
applicable in time of peace to
merchant ships and commercial, air
planes, which would have full lib
erty of passage, and to warship and
.military forces. It declares that,
by virtue of a principle "a long
time established,", the straits would j
be recognized as closed to the . war- !
ships, including submarines, of all j
navies excepting Turkey's and the
flight of all military airplanes, ex
cept Turkish machines, would be
prohibited.
However, in absolutely isolated
and exceptional cases, and for defi
nite purposes., Turkey, by special
decrees duly published could au
thorize the passage of light, war
thips. submarines - excluded. The
onnage limit of these warships
would be 6^)00, and the gun caliber
limit, 15 centimeters.
Passage would not include the
right to landings in the straits or
the discharge of war material, and
the commander of each warship
would be required to give previous
announcement of his intentions to
pass, so that the Turkish author
ities could verify the authoriza-'
tion.
During the war time,-?in- case
Turkey was neutra?, all merchant^
men could pass freely with the
understanding that Turkey reserv
ed the right to adopt proper steps
to safeguard her neutrality. In ex
ceptional cases she cculd permit
the passage of light neutral war
ships, except submarines, but no
wamhips or airplane of a belliger
ent power and no military airplane
of a neutral country would be al
lowed to go through.
;"*Tbe next section refers to such
time of war as Turkey may be
among the. belligerent*!. In this
case, neutral merchantmen and neu
tral merchant airplanes could pass,
Turkey reserving the right of
search. In isolated cases Turk
ey could also authorize the pas
sage of neutral warships.
To guarantee her sovereignty and
enforce the principle of closing the
straits to warships. Turkey would
be authorized to maintain in the
straits zone, without restriction,
military and naval forces, includ
ing submarines and air squadrons;
"erect fortifications, with artillery
of unlknited caliber; lay mine fields
and, generally speaking, organ
ize the military defense of trie
straits "by applying the technical
means of warfare, known to pres
ent and future .times."
Chapter 4 provides that, without
prejudice to Turkish sovereignty
and to help commercial naviga
tion, an international commis
sion would be appointed to sit in
Constantinople, this commission to
be composed of one representative
of the states bordering on the
?lack sea, and one each from Ger
many, the United States, France,
-Great Britain, Italy and Japan,
under the presidency of a Turk
ish delegate.
Chapter 5 stipulates that, within
three months after the signature of
the accord, the powers would rec-.
ognize the Black sea as a "closed
sea" belonging to the Black sea
countries.
The agreement would run for ten
years and be subject to renewal.
New Plan Presented.
Lausanne, Dec. 18 (By the Asso
ciated Press).?Absolute control of
the straits of the Dardanelles and
Bosphorus by Turkey' would be
given under a plan submitted this
afternoon by Foreign Minister
Tchitcherin of Russia to the com
mission of the Near East confer
ence studying the status of the
straits.
This plan would bar all sub
?marincs and military aircraft from
the Black sea, but would permit
Turkey to allow warcraft not ex
ceeding 6,000 tons to pass through
the straits in exceptional cases,
when not on military missions.
This is wholly at variance with
the entente plan, which would not
permit the Black sea to be con
trolled absolutely by,Turkey and the
other states on its shores; the en
tente viewing the sea as an inter-^
national body of water in which!
all nations are interested, while the
Russian plan takes a contrary
view.
Lord Curzon and Delegate Bar
rere of France both addressed the
meeting of the straits commission
this afternoon in support of the
plan for control of the straits work
ed out by the inviting powers.
The entente plan provides for
abD?hed April, 1850.
1881.
WPEAfJ
TREATY
JRAWN
jText oi> Agreement
Ready to Be Pre
sented at Lausanne
Lausanne, Dec. 19.?The com
plete draft of the peace treaty
drawn up as the result -of the
Near East conference deliberations
will be presented to the Turks Sat
urday, according to reports. To
day's session dealing with the
Dardanelles question was adjourn
ed until tomorrow without agree
ment. The Turkish delegates were
conciliatory, but the Russians
maintained,/ their opposition. Lord
Curzon, the British spokesman,
announced that discussions Jwere
dragging too much and tomorrow
must settle the straits question.
Tchicherin. the .Russian foreign
I minister, tried t6*involve the Anier
! leans in the argument over the
"straits saying the American atti
tude towards the straits should be
interpreted to mean that only war
ships on merciful errands would be
allowed. The American delegates
.declined to reply.
SUBCOMMITTEE
TO CARRY ON
Impeachment of Daugherty
Will Continue Without Help
of Representative Keller
Washington, Dec. 18.?The re
fusal of Representative Keller
(Republican) of Minnesota to re
spond to a subpoena requiring him
to give under oath .the. information
upon which he based impeach
ment . charges against Attorney
General Daugherty has created a
precedent of such possible far
reaching importance that the
house judiciary committee decided
today to refer"^the whole matter
'to a subcommittee for investiga
tion.
? Mear.time, the hearings on the
charges against Mr. Daugherty will
go forward,, the coommittee sum
moning such witnesses as it can
find-without the aid" of" Mr. Keller,
who dramatically withdrew from
the proceedings last Thusday after
filing with "Chairman Volstead a
statement" charging that there had
been a "bare faced" attempt to
"whitewash" the attorney general.
At the time the taking of testi
mony on two of the 14 charges
filed by Mr. Keller had been com
pleted.
Chairman Volstead plans to ap
point within a day or two the sub
committee, which, in the language
of a formal motion adopted today
by the entire committee, is "to
make investigation of what action,
jif any, should be taken in connec
jtion with the conduct of Mr. Kel
ler towards this committee and to
wards the house of representa
tives."
The committee will be composed
of both ? Democrats and Republi
cans, Mr. Volstead said, but it was
indicated that the personnel would
depend largely upon the willing
ness of the members to serve
Admittedly Mr. Keller's an
nouncement that in refusing to
{obey the subpoena, he was stand
ing on his rights as a member of
the house has left a majority of
the 2 lawyers on the judiciary
committee in a quandry as to just
what the power of the committee
and the house is in the premises.
The situation is without parallel
so far as they now can determine
and since whatever action is decid
ed upon will constitute a guide in
the future there is a disposition to
attack the problem with great care
and deliberation.
The situation was canvassed ful
ly at an executive session today
lasting for more than an hour
and a half, but there was such a
diversity of opinion that agreement
upon a definite line of action was
regarded as hopeless, at least, until
a study of the legal authorities had
shed more light than thus far has
been brought to bear. From the
start some members have been in
favor of a report for contempt pro
ceedings before the bar of the
house, but t^.us far they appear
? to have been in the minority.
On the basis of the information
now at hand, the members are
fairly convinced that'Mr. Keller can
not be made to appear before the
j committee to testily. They also
I are of the opinion that the house
j itself can not enforce compliance
j with the subpoena as could a court
j in a similar case. Whether there
1 could be contempt proceedings is
j another question and one for the
j subcommittee to inquire into.
The bad weather and the condi
tion of the roads are keeping many
Christmas shoppers from coining to
i town. It is wise to shop early
: while the weather is fine.
j Presidential work is ruining
j Harding's golf which is an alibi
I very few golfers can give.
? Turkey's absolute sovereignty over
: the demilitarized zones adjoining
I the straits and stipulates that the
I league of nations shall guarantee
Constantinople free from attack.
Lord Curzon said the fact that
Turkey was willing to enter the
league of nations would greatly sim
plify the regulations of the regime
established for the straits.
"Be Just and Fear
ALLIES ADOPT
1 FIRM TONE
I TOT?RHY
I -?
Demand Presented
^That Turks Accept
or Reject Without
Delay Allies Terms
as to Dardanelles
Lausanne, Dec. 19. ? Turkish
fears of submarines, Turkish fears
of swiftly flying military airplanes,
laden with bombs and generally,
Turkish fears of aggressions from
without that will put Constantino
ple in danger have tonight placed
the whole Lausanne conference in
jeopardy.
The United States is silent on
the situation, but the allied leaders
say tonight that they have uttered
their last word on the question-of
the liberty of the straits. Tomor
row the Turks must say yes or
j no to the allied project.
I The British experts. Admiral
Keyes and Gen. Burdett-Stuart, he-:
lieving their work completed, and
the French experts are preparing to
depart tomorrow night at the
conclusion of the "last session" for
discussion of the straits. tVhether
a rupture will come on the straits
problem depends chiefly on wheth
er the entente diplomats and their
experts can remove the Turkish
fears. This they are trying to do
tonight.
The diplomats are endeavoring
to convince the Angora statemen
that the" straits pro ject is essen
jtially framed to meet conditions. h\
! times Of peace, and that the allies
are not in any sinister hidden man
ner seeking facilities for war, and
especially against Turkey. They
say they have sought only the
equality of ail fleetes passing
through the straits .on peaceful er
rands.
The allies have emphasized that
they can not accept the Turkish
request tor* the'suppression of sub
marines and military airplanes; <- es
pecially they have been unable to
accept the Ottoman suggestion that
the Black Sea shall not exceed in
strength the fleet of the strongest
naval power of, the Black Sea.
"That would make the. Black . -Sea
forbidden, ground," said a French
expert tonight.. ??
As the Russians are here only
for discussion Loi the straits ques
tion, tomorrow may see the last of
them at Lausanne. They still are
in* a fighting mood, however,.
George Tchltcherin was in fine
argumentative - form today. He
tried to win American sympathy
for the Russian straits project by
insisting that it incorporated the
American* idea of "beneficient war
ships."
But the allies have agreed that
the Moscow straits plan .is abso
lutely unacceptable. Tchitcherin
made a dramatic plea to the world
masses. He said Russia was con
vinced the world's peoples were
back of Russia in her attempts to
secure international justice. He
called "marinism" adding "I mean
the sea militarism which- hopes to
strangle Russia."
. An additional fear of the Turks
which the allies must calm tomor
row is that with which they sur
round the proposed international
commission to supervise control of
the straits. The Turks claim the
commission will be inquisitorial in
nature, that it may infringe Turk
ish sovereignty, and finally, that it
may be used as a club by some
i powers to threaten Turkey. Hence
?their ambition to have a general
guarantee pact signed at Lausanne
wjiich will assure the neutrality of
the straits and prevent acts of hos
tility in Turkish territorial waters.
The Turks tonight seemed un
t ruffled. They did not appear at all
impressed, by the ultimatum talk
with which the Lausanne atmos
? phere is charged.
' It was pointed out tonight that
failure'*^*? the straits negotiations
would not necessarily imply failure
on other vital matters of the Lau
sanne agenda one of which is a
lasting peace between Greece and
Turkey and bewteen Turkey and
the allies.
Marquis Curzon today informed
H. Barrere. of the French delega
tion that the British government
hand abandoned the idea of having
j the Lausanne treaty written in the
t English and French languages. He
agreed that French alone would be
used. As France has made no re
quest in this connection, the Eng
lish initiative created an exceed
ingly pleasant feeling among the
Frenchmen, who like to have their
language regarded always as the
language of diplomacy.
Death House
Without Tenants
Columbia, Dec. 20.?When Frank
M. Jeffords leaves the death house
at the South Carolina state prison
on January 22 on his march to the
electric chair, that section of the
prison will be empty for the first
time in approximately two years.
Desiring better health and other
conditions of men under sentence
to die but who have appeals pend
ing, the prison authorities have
removed these m?ri to the cell
biocks in the prison proper. When
appeals are settled against these
men and the date, for their deaths
set they will be returned to thej
death house.
Not?Let all the ends Thon Alras't i
Sumter, S. C, Saturday
CLEMENCEAU
ARRIVES HOME j
FROM AMERICA
?_?_? .'
Former Premier
Greeted by Large
Crowd When He
Landed at H#vre?
Christmas Message
to Americans
Havre. France, Dec. 2G.?Former
Premier Georges Clemenceau ar
rived home from America today.
He was apparently tired but in a
hilarious mood. A large crowd
'greeted him at the pieri He said
he hoped for good results from his
trip, adding "however, let the j
i people decide. I put my thought ]
(fully before them and they eertain
ly have sense enough to judge."
I He told the correspondent that j
- at first thought was -he was glad
ito get home, second was sorry hej
j had left America.? He wished the
I Americans a 'merry Christmas ".nd
a happy New Year. - ^
Referring to reparations ques
tion he said he feared German
strikes if France occupied the j
Ruhr district.
TO BUILD BIG
DAM IN CANADA
Chief Engineer of Southern
Power Company Taker Ac- j
tive Charge of Project j
Charlotte, N. C, Dec. 19;-^#^'S.
Lee, chief engineer of the SOtfrhern
i Power company, with headquarters
' here, tonight announced - that *Fy H.
Cothran, the company's dfridlou"En
gineer, will leave here on December
r25 for Quebec, Canada, to'fake,
I active charge of the enginee'rfng
1 work on the 2j)(h000. horsepower
hydro-electric development, ''pro
ject which is to be opened1, up by
{J. B. Duke of New York, and
Charlotte, and Sir Wilham. Price,
' Canadian capitalist. Mr.. Cothran
j has been *n charge of the South
1 era Power company's projects in
(North Carolina. *
|. Mrr:Ler also* stated.?bstt he wilTj
t devote ? personal' attention to de
velop most of the Canadian pow
er plant, and spend. pArt of his
.time in that country directing the
; work- Mr. Lee explained that the
project, while under direction'of
.South Power company officials, has
: no immediate connection* with the
'? company, and that the Southern
corporation and the Quebec* De-1
'velopment company are-separate j
and distinct organizations although <
. Mr. Duke and himself as the South- j
j ern company's officials, are asso
JciP'ed with Sir William,
j -A contract for 200,000 horse
j power has already been sold in
| Canada, Mr. Lee said, and it is,
: proposed to develop 1,000,000 j
i horsepower from the new plant.
|F ? reiterated that the develop-j
ment was partly to conserve coaD
i in Canada and to generate steamI
for domestic and industrial use by
j electricity.
-i?
j Annual Meeting
of Postmasters
Postmaster General Expected
to Attend Convention in
Columbia
1 Columbia, Dec. 20.?Postmaster
General Herbert Work and a
number of other high officials of
the postofflce department are ex
pected to attend the annual meet
ing of South Carolina postmasters,!
which will be held in Columbia on
January 18, it was announced here
today. The program for the meet
ing is expected to be completed
within a short time.
The meeting originally was
scheduled to be held in Charles
ton but was changed to Columbia
on account of its more central lo
cation, it was'stated.
TOLBERT MAY
v BE HEARD
Expected to Appear Before
Senate Committee
Washington, Dec. 18.?It is uh-J
derstood that Republican National
Committeeman Joseph W. Tolbertj
will appear next. Wednesday before
the subcommittee of the Senate'
judiciary committee, whcih
is handling his third nomination for
? marshal of the Western Federal J
j District of South Carolina, now
held by a temporary appointee of
I Judge Watkins. because the .Senate
has never confirmed the nominee,
j Heretofore Tolbert has not appear
ed before the committee to state his
case for himself.
The subcommittee is made up of
-Senators Brandegee, of Connecti
'cut; Colt, of Rhode Island, and
Overman, of North Carolina, the
first two being Republicans.
Sumter will have two modern'
creameries in operation after Jan-j
uary 1st. There should be five to j
ten thousand dairy cows on the
i farms of the county to supply cream
' for these plants. With that number!
of cows in the county the boll
j weevil would cease to worry the)
majority of peoplr
7
it he thy Country's, Thy God's and
r, December 23, 1922
EYEWITNESS
OF HERRIN
MASSACRE
Physician Tells Jury of j
Having Seen S i X|
Men Shot Down by
the Mob
. - ? ... . . . i
Marten. 111.,-Dec. 18 (By the As-|
sociated Press).?Dr. O. F. Ship-j
man testified today at the trial of
five men in connection with the j
Herrin. riet that he had been an
eye-witness of the shooting down of
six unarmed men by a mob in front
of the Herrin cemetery the day of
the killings. ?
Two other witnesses, Mr. and
Mrs. George Nelson, testified they
?had. seen a crowd of armed men
drive 30 or.40 unarmed prisoners!
from the "strip" mine, where thej
trouble started, past their farm!
near the mine.
R. C. Greer, former mayor of'
Herrin, also- testified he had seen
the' prisoners brought from the
mine and that there were 48 in the
group escorted by 25 or 30 armed
men. He said there were several
hundred spectators-about the mine^
and he saw automobiles from Mis
souri, Indiana, Kentucky and oth- J
?r states! -
Dr. Shipman testified % he had
followed the mob and its bleeding,
pfeading captives a mile and a half
through the streets, of Herrin to the
cemetery* and that ?v"??* Jr* s
a volley of shots and -that W a&w
the six prisoners urvp tu tiic v
road.
"The witness testified a man he
could not identify stood over the
prostrate victims and emptied the
contents of "two revolvers into their
bodies. Hie swore- that Joe~ Carr
inaghi, onej?f the defendants, had
fifed into thenthe prostrate, body of
JFEoward, Hoffman, of Huntington;
Ind., one .of the 20 Jion-union men
killed' .dm?n^the. riotsV and that
blood had spurted- into the air
as the bullet struck. "
"Oh^ men, ? men, what are ?you
doinjgr?"' the witness quoted Hoff
man as saying.
"If you have ever said your
prayers, say them now, d you,
for yon won't have much longer,"
'-he. -testified- 'am .unidentified leader
of, the mob told the prisoners just
-before" they were shot down.
Askedfti?. he could tell who did
the shooting,*-Dr.-S;hipman named
Joe CJ?rnaghl; . and, Leva Mann,
two of the: defendants now . on
trial, and Percy Hall and Jim Gal
lag nan, who hove heeh indicted
but who are not.defendants in the
[ present case, ,
The tiame of Peter Hiller, anoth
er of the defendants-who was mar
ried in the jail tonight to Anna
Campbell, 18 years old, of Mar
ion, was brought into the evidence
for the first time today. Hiller was
^the fifth and last defendant who
has been mentioned in the testi
mony as. having been seen with
Sims during the rioting.
George Nelson: was the first wit
ness to name Hiller, whom he said
he had seen, among- the crowd at
. the mine invthe morning, but with
out a gun. . Dr. Shipman tes-vfied
;he had.seen Hiller that night with,
j a gun strapped about his body
land that Hiller had said to him
that some of the' prisoners had
gotten away and that he was
I bound back to the Ihine to search
j for them. Shipman also said that
[he had seen Leva Mann step out
jof the mob at the cemetery after
I the' shooting, wave a gun about his
head and declared:
I "Come on. boys, we've got two
more down here."
! Under the longest and severest
cross-examination yet given any
i state's witnesses, Dr. Shipman said
he had represented coal compa
nies in "about 100" claims cases
in the past three years. He denied,
however, he was prejudiced against
the miners and; said he had rep
resented "three or four"' miners in
suits. '
Asked why he did not go to pro
tect the six prisoners from the
mob, he replied: *T did not dare."
Dr. Shipman was then asked
whether he had not told attorneys
for the defense that he could not
identify the men at the time, but
remembered .their faces. He de
nied " he had told any one that he
had told any one that he was go
was going to seek a $2,000 reward
ohered in connection with the slay
ings.
Mrs. Nelson" testified she had
recognized C. K. McDowell, super
intendent of the "strip" mine,
limping painfully along among the
prisoners taken from the mine, I
that he was taken down a road and j
that she later heard shots. She
said the only other person in the
crowd she recognized was Mrs.
Otis Clark, wife of one of the de
fendants, and that Mrs. Clarke said:
"They've got old 'Peg Leg.'" >
Nelson, however, said he had
seen Otis Clark and Oscar How
ard, the latter not a defendant in
the present case, with guns lead
McDowell away down the road and.
had heard shots and found the
mine superintendent's bullet pierc
ed body,
Mr. Greer testified he also had
seen Otis Clark flourishing a gun
and had heard him say: "I've been
in this fight for five days and I be
lieve in starting at the head to
stop af thing. I believe in taking
every one. out and stopping the
breed."
Ollie A. Greer, son of R. O.
Greer, said he was at the mine the
Trn?b*g.M
COLUMBIA IN
ON WATEREE
CELEBRATION
i
Chamber of Com
merce Decides t o
Celebrate Opening
of New Route to
Sumter
Columbia, Der?. 20.?The Colum
bia Chamber of Commerce will
participate with the Sumter Coun- '
ty Chamber of Commerce and oth
er civic organizations in celebra-1
tfon of the opening of the Wateree j
bridge between Sumter and Rich
land counties, it. was announced
here today. President Cappelmann
of the Chamber of Commerce will
appoint a committee to work with
the Sumter chamber on planning
the celebration.
The opening of the Wateree
bridge will cut off approximatelyj
25 miles from; the route necessar-i
ily traveled by automobilists in go
ing from Columbia to Sumter. The
bridge and its approaches are ap
proximately five miles long.
TAX EXEMPT
SECURITIES
Question Brings Up Sharp
Fight in House
> Washington, Dec. 19.?After a
sharp preliminary* skirmish the
house took up 'today a resolution
proposing an amendment to the
constitution under which issuance
of tax exempt' securities by the
federal government and the states
would be prohibited.
Backed by the endorsement of
President Harding and the treas
ury the proposal, was the center of
a 'hard, fight iy which many Re
publicans opposed it. Passage of
the' measure. offered by Represen
tative Green, Iowa, ranking Re
publican of the ways and means
committee, which reported it will
requir? a two-thirds - vote of, the
house. Opponents eiafmed tonight
it would - be . defeated although
those who caused- it to be brought
up insisted- Jt-wpuld go. through
Four ho^frs;*?f l^eral debate al
lotted under a -special rule giving
Uie measure right of way had not
beeh^eoncluded on adjournment to
night.
??? ? '??? y ?-t^".
Federal Highway
Maintenance
SWe Highway Commission
Will Transfer Portion of
Roads to U. S. Au
thorities
- Columbia, Dec. 19. ? Selection
of seven per cent of the state high
ways that will be transferred to
the Uinted States authorities of
maintenance will be one of the
principal 'subjects to come before
the state highway commission at
its meeting here on December 20.
A number of delegations from va
rious counties will appear before
the commission, among them being
the Richland permanent roads com
mission; Hugh ?. I!anna, of Hamp
ton; M. E. Rutland. Batesburg and
the Fairfield county highway com
mission.
The commission also will consider
its annual report to the governor.
Recommendations to be made to
the legislature in the report are
expected to be considered.
? ? ? ? *
The ginner's' report shows that
South Carolina is making about
one-third of a cotton crop this year.
Sumter county's crop is- less than
a sixth of the 1920 crop.
j night before the 20 non-union men
were killed but did not recognize
any one in the crowd. . He said he
returned the next morning, saw
Otis Clark with a gun and heard
him say: 'This kind of thing ought
to be stopped."
Jean Burlchart of Marion testi
fied that Bert Grace, a defend
ant, had borrowed a gun from
him at his store the day of the j
riot and had returned it the fol
lowing day.
Dan O'RoUrke and three other
mine guards were in court J?day,
prepared to. take the stand and tell
of their experiences during the j
riot, but were held over until .to- j
morrow.
O'Rourke is the only survivor of j
the men shot down in Cemetery;
road.
Herrin Massacre Trial
Marion, III., Dec. 19. ? Four,
guards who escaped from the Her
rin riots last June testified today
against the five men on trial in
connection with the killing of a
score of non-union workers at the
Lester strip mine. The defense o:
cross-examination is seeking t >
build up an alibi.
HERRIN MASSACRE TRIAL
Marion, 111., Dec. 20.?Joseph
O'Rourke, William Cairns and Rob
ert Officer, survivors of the Her
rin mine riots, today testified in
the trial of the five men charged
with murder in connection with
the slaying of twenty non-union
workers. They told how the men
were marched out of the pit and
shot down.
THE TR?fe SOI
NO LOAN TO
GERMANY
AT PRESENT
_ *
International Bankers
Will Not Consider
Advancing Huge
[ Sum Until Repara
tions Question Has
Been Settled
New York, Dec. 18.?J. P. Mor
gan & Co., tonight issued a state
ment declaring they , had notified
the German ambassador to th.'rs
country that "it was impossible for
us to discuss or consider a loan to
Germany unless and until the rep
arations question was settled."
This statement was issued, it was
learned, to set at rest what were
described as "highly fantastical
scories" which have been published
regarding the possibility of the flo
tation of an international loan to
Germany, estimated as high as $1,
500,000,000.
The statement follows:
"Dr. Otto Wiedfeldt, the Ger
,-man -ambassador, called on Mr.
Morgan on Saturday to make in
quiry as to the possiblility of our
undertaking to assist in floating a
large, socalled international loan
to'Germany. In his reply Mr. Mor
gan adverted to the statement he
had made following the sittings of
ihe bankers* committee last June,
and in eftect told the ambassador
that our position was exactly the
same as it was then.
"He informed Dr. "Wiedfeldt,
that, while we greatly desired to
be of service to the general sit
uation, nevertheless matters hacl
manifestly reached such a * p/oint:
that it was not possible for us to
discuss or to consider' ? loan' to
Germany unless and until the rep
aratfons question was settled."
Official denial was made of re
ports that the Morgan firm Jiacl'
presented "a plan for the settle
ment of the reparations .problem
to the Washington administration.
While no official comment was made
concerning Mr. Mrogan's * visit , to
Secretary Hughes in Washington
last week it is understood the, fin
ancier merely gave the secretary
his views on conditions in Europe
whence he recently returned after
a six months'*.visit.. Mr. Morgan
was a member of an international
committee of bankers- which met
in London last June to discuss the
mesiion of financial assistance to
Germany. ?
.Local international bankers are
said to believe that before any loan
is made by this country to Ger
many there must be not* only a set
tlement of the reparations question,
but a sincere effort made by Ger
many to balance her budget, revise
her banking system and stabilize
her currency, which has been enor
mously inflated. If these condi
tions arc met a small loan of short
duration may be niade through lo
cal bankers, but the possibility' of
such an undertaking is said to be
"very remote" at this time.
While President Harding's cab
inet is known to have had the Ger
man reparations question under
discussion at recent meetings, local
bankers do not believe the admin
istration will offer- its services as a
referee on the reparations problem,
in view of its- definite refusal to con
sider such action at the request of
the German government some time
ago. The inquiry of Dr. Wiedfeldt
is believed to be the first direct
proposal made to American bank
ers for assistance by the German
government. .
In his report to the internation
al committee "of bankers, Mr. Mor
gan asserted the American inves
tor would be interested in German
obligations only if it were satis
factorily established:
"First, that such a loan should
he at the request and would be for
j the benefit of the nllied nations.
"Second, that through the tech
nical security to.be given by Ger
many and the rehabilitation of its
internal financial situation Ger
many should clearly show a desire
to meet its obligations in the hope
'that by the fulfillment of these
obligations it would reestablish its
credit as one of the commercial
I nations of the world."
I "Herlin. Dec. IS (By the Asso
ciated Press).?Berlin's financial
j forecasters went far astray when
ithey declared that the bourse was
? bound to see a "black Monday"
j following on the heels of Saturday's
,sensational spurt by the mark in
jXew York. Instead of the predict
ed panic in exchange dealings,
steadiness was the rule.
Xew York advices" that the dol
lar had touched 3,000 marks re
sulted in a crowding of the bourse
chamber at its opening today and
the pessimists were routed when
the first rate was announced at
3.??50. As the day proceeded the
mark gradually lost much of the
ground gained, and the close saw
the dollar back to 6.430, putting a
damper on a large part of the
earlier enthusiasm among those
who believed substantial relief
from the high prices was in sight.
Holders of stocks and foreign
monies showed no haste to dispose
of them; there was a general ten
dency to exercise reserve. It is ex
pected, that Wednesday, which is
the next day on which there will
be bourse trading, will reveal
whether Sunday's gloomy forbodings
were justified in holding up the
'THRON, Establish.*! Jnw I. i***.
vol. on. no: 38
PAYMENT
I
Checks to Be Sent to
Growers in North
Carolina?Third AI;
lotment to This State
Soon
Raleigh, N. C, Dec. 1S;?"
] Thousands of tobacco farmers 'who
i are members of the Tobacco Grow^
I ers' Cooperative association will
! double their cash receipts next
Wednesday, December 20" trti^
15,549 checks Tor the second -psy~
! ment will be, delivered at all' the
cooperative warehouses of eastern
North Carolina,
j According - to today's ann'onhee-~
i ment of James H. Craig, treasurer':
for the tobacco cooperative^th^e?
checks will' cover the second pay-'
j ment on all tobacco delivered up .
tto December I. ' ''
r A similar payment will be made '
! to all the organized growers^ ?>?
1 the old belt of Virginia and North
Carolina on deliveries up to ;Dei~
cember 20 as soon thereafter ?s.
checks can be made out and mark
ed. ? ? ?
Millions of dollars are ready-for
distribution to the growers of
three states and the third pay-;
ment will be made to the,;Souxh
Carolina members of the market
Jing association following the sec
ond distribution to* the. old belt
A record breaking series of 36
meetinga-in 20 counties .of Vir
ginia this week will mark the eeje
( bration by thousands of growers of
1 their first successful year of or
:ganization for marketing.. John
J R. Hutchfemi. director , of exten -
sion for Virgnia, F; S. Farrar,.' J.
* If. Quisehberri% J. G. Brice, siare;
district -agents,, and W. R. We?t.
land Joseph JM. Hurt, directors of ,,
'the association will be among the
* speakers at these rallies of tobs*>
j co growers.
j -;,Heavy deliveries to the
Iative warehouses of '-western:..
Carohna and Virginia have &&r'
flowed the recent rains and' meiar *
jhers of the association who
{.double their money within the
j few ^j^km^z^vj^^-^tii
(cent cash advances which
! run as "high as $20
" on some' |oa?s. >. r
In the Carolina "belt, where the
markets are closed, prices received
from ?ot?ai sales of the association
j for substantially all of its tobacco
jby the association appear to be
I well in line, if not in excess,- ot
'that received by non-members.
Among the directors of the to
bacco cooperative who win meet in
j Raleigh - tomorrow for the.r final
"session of .1922 will be.4:fo> deie~
gates of the association fresfc^om
j the national conference ;of ~ccop
eratiyes held last week in W?sh
[ington,. where* President Hardingt
Secretary Hoover and Director'Eu
|gei|e Meyer, Jr., of the war fin
ance corporation expressed praise
for the: work of the cooperative
'marketing associations now estab
lished throughout America.
I ?' " u m i
i HARRISON ?:
j GAINS
I Papers Staying Execution Are
Served
j Columbia. S. C," Dec* ^?Papers
! formally ^staying the -execution of
Jlra K?rriaon, convicted as .one of^
'the slayers of J. C. Arnette", today
j were served on the soliictor of the
j Richland circuit court, the clerk c? *
? court.of Rieliland. county aid Col:
'A. K. Sanders, superintendent of
j the state penitentiary. "The leaio
on life wilt enable Harrison, to err*
I joy results from the filing by Bar
1 nard B,-?vana, his attorney, of n?
1 tice of appeal from the order of As
Jsociate Justice Cothran, who re-.
I fused on Saturday to grant a stay
! of execution, pending an appeal
from the ruling of the circuit court
which declined to appoint a b^ard
jto inquire into Harrison's saraty.
; Justice,. Cothran's order, however
paved the. way for a stay of execa
j tion of tehtenee by specifically ?u
I thorizing an appeal from his de
j olsion to the entire supreme court.
j When the supreme court wih
! hear arguments upon Harrison\s
! latest appeal was not known today,
i spectre that there would be repe
tition of December I of last year
! when the bourse became panic.
? stricken in consequence of the talk *
I of a moratorium.
, Attention was called today, how
ever, to the fact that on Deeem
j ber 1. 1921, banks were advanc
ing credits, which is not the' case
i now, and that the new develop
i ment puts business credits even
[ farther out of sight since the fin
ianciers are not inclined to back en
terprises which are heavily stock
led up with high priced goods.
Despite the reports contradicting
lenrlier rumors that the United
I States contemplated taking an ac
itive* hand in European settle
ments, it is regarded as certain
that negotiations, at least for - ;t
German loan, have been underway,
jand this gives room for encour
agement. Moreover, a change *u
the American attitude is consid
jered likely in view of-the appar
ent abandonment by M. Poincaiv,
the French premier, of lh>i plan ic
Occupy more German territory.