Newspaper Page Text
DETAILS GIVEN IN CONFESSION
Sullivan Tells of Theft of Securitie
VALUE IN MILLIONS
EAlleged to Have Been Stolen by Wa
Street Messengers for Arnster
ta . trketin
lars to.ere alleged to have bec
stolen by Wall street messengers fi
"Nicky" Arnstein and "Nick" W. Su
livan. forminer mniber of the Consol
dated Stock exchange, now on file i
the federal court.
Sullivan's confession was made i
testimon~y taken by United Stat<
Commissioner Gilehrist, during ti
last month and shows that brokers I
whom the stolen sceurities were takt
for negotiation obtained loans on thei
from reputable banking firms.
Stllivan is under indlctment and
police searcih for tArntein for sever,
months has been futile.
.Accoil ing to Sullivan's testi mon
about $600.000 worth of the stolen st
etirities came into his possession c
which he raised $250,000 and gave tl
thieves S125,000. The stocks wei
rold in small lots and at one-fourt
of their market value, changing hant
inl aloons. street corners 1and hot
rooms inl variou0s cities.
Sullivan tol of ieeting wii
Artistein and Cohen in Wash ingto
rec.-eiving at eacli meeting, he hv
stol-n securities that he imme(liatel
ple(lge(l as collateral for loans "at
Federal an(l cointy oficials here b<
lieve that banks and brokerage hou
es in the Un ited States and Canlm
have close to $2,000,000 of stolen s(
cureities on haul but are not awai
of 'le fact, owing to the ingeniot
iethods in disposing of them as Co
lateral for loans.
('7'l"l'ON CROPS AE LAT E
Columbia, i.lay 2.-Commissionl
Harris has been making a person
survey of the crop conditions
South Carolina and offers some a
vice to the farmers. "Usually by tt
ibi oi&vof April," says Mr. Harris, 'v
(hil planting of cotton well uinder wa
and indeel quite a lot of cottoni abos
ground. Th is year, owing to the tit
usual weather, very little cotton ht
been planted here or anywhere in tI
cotton belt. Not over 50 per cent <
the average crop has been plant<
and a great (leal of the land is y(
Ito be prepare(l for the planting.
Therefore, in cirdet to make a 'o
mial crop, every( day from now hene
forth must be ileal cotton weather.
'rhe spilnning tra(le is in the mo:
flo rish i ng conlition in its h istor
and it is being more generally recop
oniz-dl that with the large (1eman
for rondIs at present high levels t1
priie Of Southern cotton is relativel
cleap. Accotditig to the law of sil
ply and lemandi'l, cotton should 1
sellintg for 60 cents, the price that tl
Amiieric'an Cottonii Association recon
mentded fotr the iremainder of the 101
''A' fla irs are entirely in the hands<
the far'mers and spots holders.
they positively r'eftise to take prieset
pries it will im medlinately adlvance I
->0 centts and above, as the spinnet
will callI the spe'culators foi' delivert
as they are miak ing unheard( of pro fit
inow. So, I say again, sit steadlyi
the lboat andl freeze to youri spots atn
they will pay your price.
''Pay no attention to ftiutres ('01
traets prices, they caninot be somt
Howe'ver, if you have ino uise fot' yotu
mioney'V. if y'ou will hold( y'ouir cot to
until .Iuly, 1921, it will pay you a bii,
imteirest for after careeftul review o
tie firtst cr'oP a nd w'eanthee- repm-oit (
the. sensont, State by State, and afte
tomiparison withi pr'i vate~tt rpotts frotr
every State in the holt, we havte at
riv'ed at the conclusion that thisi
_KlIl to be another seaesol of short
yieh and that from the beginning it
edoome- to bie a short rIll. in the
rew sections of the belt where plant
ing has been done, germination is
very unsatisfactory mainly because of
the low temperature that has prevaile i
Sand the first planting went to naug.ht
ill large areas.
d "In many places in the helt it has
t been planted now the third time ibe
fore getting a stand. Too much rain
ani low temperatures always work
injury to the crops, especially cotton.
"There has never been a (ime since
t eotton has been planted that such a
'. bear raid has been made upon spot
- cotton, and they have not succeeded1
* in driving it down. I want to say
e to spot holders that if the weather
Y keeps good for a week or so they
will drive October and December con
e tracts much lower, but this will not
e. effect the spots if the holders will
-not get pan icky and selli.
"'Freeze to your spots. D~on't sell
until the price is reached. It will
come if the fa rmers will not release
a pound until it gets to 50 cents and
t alo-e The price of goods justifies
0 it. If you di(on't get your price don't
s bla me' the other fellow. Did you know
t Ihat the spinnable cot ton is not enough
s t rn te ills of 0theP wor i~iCr
a than five or six months, and that if
the ('otton to be grown this year
shoul be withel from the marketj
- until December I then the majority
.of' the mills would have to close dlown
r* on aecout of' lacek of cot ton to spin ?
i ell,. those arie facts, and the prxo
ducerxs of cotton never had the opplor
f unity in the ix hands at they have
"'I hope that thbe prod uceris will'
real i ze tha t this is a faet a nd thut
-thley will make up their mxindls not to'
tiut any new rotton on the iiharket un..
t il ecember. Then' 4 ma rket sparxingly
andt you can naxme your ownx price.
owI want to urge every farmer so
to arra':fie his farm thIiis yeari that }ie
wvill make plen ty of supp~jl ies, such as
corn, hogs, hay andl syruip. D~on't
nglct phl~0tingx a Pot corn piatch and
pl'anuts so thbat the children may
amuese thiemselves on r'ainy days and
.n thbe long winter evenmilgs.
"Remiexmber, the tarme('r that makes
all his home suppjl i'.s his half financed
his cotton cro0p to b egin wit h.
('AMlPAIGN 01' lO'R I)AYS
New Y ork, May 2.-T-lhe "flying
s iiandrion'' su ffragis ts recruited from
Vious015 Staltes to invade Conec'ticut
tom~orr'ow for a four-day camnpaign in
anl effort to win it as the last State
for rati ficat ion, recei ved final ,inlstrue
li 'ns hereI tonight at a d inner given
b v Mr xs. Carr1' ie ha pman Ca tt, pri-''
dlent of the4 Nationxal Womanl.11 Sulffrage
A sIocialt ioln. Thel( fleminine sp~ellbind
('is w',ere 'oachxed careftully behind
closed doors5 by Miss Kalther'ine' Lad
ngton, President of thle Connecticuti
Womanl ufra;-c,..\ 1 -~.o : 1ai~. f
Paris, Ma.y 2.-World problems Suel.
aS thle h'igh1 cost of living exchange
commercial transportation aerial com.
mcrees and national debts are on th(
program of the international parlia
men01tary Conference of commered
whichl is to be in session at Luxemi
bourg from Mlay 4 to 7. .- Two hun
dred delegates have already arrived
aniothers are on their wvayN. Belgium,
Braizil., China, Finland, Great Britain
Greece, tily, Japan, Poland, Portugal
Rtunania, Czecho Slovakia and Jug<
Slavit wi!!, be represented while an
offlicial invitation hasg been sent to
the United Stattes to send delegates,
no answer hasg been received. Ami
bassador Wallace, howeyVer has desig
nated a commercial attache of th<
tembassy to attend the sessions as ob
elas, May 2.-Wo(ld proesscie
Press.)-hihct-five i moehanger
strikers were nreoavebtfromte oneth
sxniene woneavne ofe comeaei
whhe pas two beayns. sina ue
G eorgaMurnaha, aredyricit edo
agohers aresteb theg ilgiar
thm i morning, landbouh Get Britfast.
Gric, under ofJtenn Folan orgai
zuai Dr.cStutlovakth andce Jat
Sarreted. e ersetdWiiea
fIni Loniton hatuda briighet tC
stale Pniedtaes was shotl delegate
the answher hnas beat. received.oAm
holicadhic hVastaene hoee thas scio
lthed shoninrclso tachfie o. tne
embathe poaemend tias sruckoby as ob-n
blt butV wa ot E hurtTh pice
Atries~en reof e o the stchl ers-o
fannjilg hDveopietl tomay waing
thel Pat the odiayosD.at n
Eere Muaia Ill, aolicitrday
mAgpil 3, 1920 at12e o'lock tile miitr
hi purpo1e of ondrg ta refslu
ith, fouwnd of9 the anairs oregani
amion Dr.c tmist alrpoicer ad
teleg- hie onhi bW. .Arrn Sertyary
houinty alof Cwasredon.n
CtiJ. M.0 imnha, Prbatey spdent
Wherealit.s, otti hr. Thd ae )u1ite
re tme ti grn Ii Iher Lettackinf Ai
These ar therl~fore,4(I toicitenn ad
nonish al nIig la.h ide
An lCeior of the saidkholdius of
beood,~ at.,theceosedcethftIthey b and
lpear beforennin, inth C.,ou riday
roatpe3, 1o920el at 2anningk non the
.7th dayjs of coynxtiafer publica
'on hery vr ic i a corporation a n l
ng a Ion
noon, to show cause, i any they have,
why the said, Admin 'tration should
Given under m lla' d this 22nd (lay
of April Anno iomi i 1920
J. . indham,
NOTICE OF DISCHARGE
I will apply o t e Judge of Probate
for Clarendon C nty on the 17th (lay
of May 1920, at 1 o'clock A. M. for
detters of disel -r as administrator
of the estate Sep mus Logan, de
I Jeratt L ogn
pd. Ad inistrator.
. Pinewood, S. C., April 16, 1920.
H'!ICH ESTER -vs"PTLUS
~IHT IND BRAND.A
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Tok no oter Bu fYu
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