OCR Interpretation

The Pickens sentinel. (Pickens, S.C.) 1911-current, November 23, 1911, Image 1

Image and text provided by University of South Carolina; Columbia, SC

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn93067671/1911-11-23/ed-1/seq-1/

What is OCR?

Thumbnail for

p RUN4S:
The Pearl ofitb e PCkS~~
---erea Apr123, 1903 at Picicens, S. C. as 0econd class mall matter under act of Congress orfarch 3, 1879
Aiken Writes Wickesam.
ABBEVHILL. S. 0-, Oct. 31.
Hon. George W. Wickersham,
Attorney-General, Washing
ton, D. C.
DEAR Sm:-I notice that the
case against the Wall street
"bulls," charging them with
cornering cotton, isi-gaimii the
courts, and assume that yZ9p
will push the prosecution to a
While I do not concur in the
opinion that it was the proper
ction of the goyernment to
ere with the enhanced
,.of a commodity that
t>e nuch for the wealth
is country, I assume that
you can justify the prosecuti-t
legally. -
If then the governmen$ad a
legal to pro against
an ' ulators
to up
ton, it fo i
same legal right
to proceed against a combina
tion whose purpose is to force
down the -price of the same
Of the American cotton crop,
approximately one-haif is sold
in foreign markets. A decline
of two cents per pound means
the loss to this country of $60,
000.000 and to the Southern
farmer of $120,000,000. It is
certain that "bear" pressure on
Wall street has forced a decline of
fully 3 cents per pound in the
present market. thereby robbink
uth of approximately
,000, and giving it to
foreign st.inners, This decline
has been brought about by the
bear element overselling the
market. publishing false or mis
leading statements, and com
bining to keep buyers out of
the market. With no extensive
knowledge of exchange meth
ods, I think it is safe to say that
if a combination may advance
the market, a combination may
likewise depress it. and the fact
!s it is now being done.
Then should not the govern
ment interpose? If it-was right
in the former Instance it is right
in this; and when the wealth
of the nation is threatened and
the competency of Southern
homes is being absorbed by the
foreigners, should not the gov
ernment at least place - the
weight Of its influence and pow
er with its own Citizens? An
investigation of "bear" tactics
would probably reveal ample
ground for criminal action
against t he - leaders andi
prosecution would probably dis
solve the unfair combination
-and allow cotton to resume its
normal price. At any rate it
seems incumbent on-the govern
iietin the premises, to throwy
the weight of its power with the
This letter is not written in
any carping spirit, but in the
hope that you may see the other
-side of the question as the cotton
producer sees it, and use the
arm of the law, as far as possi
--ble, for their relief.
I would be glad to have an ex
pression of opinion from you, as
to whether such a ,prosecution
would, sin your judgment, be
entertained by the courts, and
-if it wfould, wh'at likelihood there
-is, if- any, of the Department of
Justice taking such a step.
Living in this section where
cotton is the prevailing crop, it
is a great disappointment to me
that the producer should be
robbed of his legitimate profit
on that crop. If the govern
ment can extend any aid, it
-could never come more timely.
S- Office of Attorney-General.
Washington, D. C.,
- November 6, 1911.
Hon. Wyatt Aiken,M. 0., Abbe
- ville. S. C.
Mv DEAR SI:-I have your
favor of 31st ult. I quite agree
with you on the general propo
sition that, if cornering a pro
duct- which is dealt in in inter
--state commerce, for the purpose
'of increasing its price, is illegal,
similar cornering for the purpose
depressing its price, is likewise
illegal. The formation of a
crner for the increasing the
are willing to let it go, and le
thereby impose upon the manu- cE
facturer, who must use the h
product, the burden of an arti o
ficed price. la
It is not so clear by what pro- of
cess a "bear pool" is organized fi
or conducted, and I *aye no I
evidence in this department of a ti
tangible character which ena- h
bles meto form the oplhien-that
any designated individuals have
Vmbined to depress the price of
cotton below its normal figures.
bioreover, it is not quite clear
iA my mind how such a "bear
D'OI" canoperate to restrain in- w
irstate commerce. T suppose ti
'the method by which such a si
combination would operate,
would be to throw upon the C
miarket at a given time a quan- d
tity of a commodity in excess of
the demand which would result r
in its being taken only at -prices te
which the purchasers thought =
would enable themto retail at a 0
profit. e
I don't at an -know what the w
practice is among the cotton
growers in your state, for in- PI
stance, respecting tho sale of t
their product. When I let had la
occasion to examine the ques- to
tion, which was a few years tr
ago, the crop was pretty gener- U
ally sold to the cotton factors P
before it was picked, the price
being based upon the pie of c
the 4revious year, and Increased
or decreased according to the ra- fc
tio between the crop produced N
in the country the preceding a
year, and the estimated crop of
the current year. , tb
Generally speaking, I take it a<
that ~the "bulls and bears" are Gj
the brokers who, on the cotton TI
exchange, at a given time, are th
seeking to inrease and depress
prices respectively. The "bears"
are trying to beat down the
prices in order to 1ay at a lower r
figure, and the "bulls" are try- gi
ing to run prices up in order to it
sell ata hghe figure- at
The interests ,of the spinners 0
weid , -e y, ith t e
"bears," and the interests of ou
the saetors, or cotton dealers, b
would be with the "bulls." A th
"bear" movement would-be iui- b
tiated" if, for example,concerns A
dealing in cotton had borrowed at
very largely.on-awlose margin, y
and, for some reason or other, ~
were compelled to sell for the .
purpose of meeting other loans, ti
and a movement, once begun,
toward the- lowering of prices, ol
would be apt to -gain headway ~
bocause soer people,Jiaving cot 01
ton on.marginiwould be fearful
of greater loss if they waited ~
until the price werit lower, and r
so would rush into the market o
determined to 'get rid of their ~
product at agiven time. o
How a "bear pool" would
operate, I do not quite under- $
stand, nor do I know of the ox
istance of any such pool. 'By
pool I mean a group of men s
who, for the purpose of control- fc
ing the price of acommodity, in
their own interest, buy a suffi
ciently large amount of the
property to engble themito con-'
trol the priebsin the market. cc
I write, givingyoujust myrim- 7E
pressions of 'thesubject, because
you may have fuller knowledge er
than I,and Ishould-besvery glad.
to have you give me any detail- sc
ed information availableito you 8
going to show the existence and
gpration -tif 'any combination re
formed for the purpose of 'de- h<
pressing the price of -cotton.
In the proceeding against ce
those 46gaged in the so-called
"bull cotton pool" which the w
government broughtLa .year orM
so ago, the United States circuit
court in New York held that cI
"corners" were illegal and im
moral, but that a combination
formed to corner and enhance
the price of cotton did not oper
ate in restraiust of inter-state
commerceevenhough, asus
alleged in the indictment, the
necessary effect, as well as theC
intended purpose, of the combi- o
nation was to increase the -price
which the spinners had to pay,
and, as a matter of fact, by so
increasing the price a large per
centage of the spinners had re
frained from manufacture, and
had thereby been restrained in -l
commerce among the several u
states. An appeal from the c
judgment of the court, sustain
t the case go off on a techni
d matter of pleading, we may
ave some light which will be
aid in the enforcement of the
,w against other combinations
a like character. But, aside
em that, my greatest difficulty
should have in dealing with
ie case you mention, is what I
ave outlined here.
Very respectfully,
Holding Cotton.
The following- is the pledge
hich the farmers in each coun
r of the state are asked to
"State of -South Carolina,
Dunty of . We, the un
mrigned, owners of cotton of
te 1910-11 crop, hereby pledge
irselves to withhold from the
arket the number of bales en
red opposite our respective
unes until September, 1, 1912,
until the price of cotton has
ached 13 cents, and we do sev
ally solemnly declare that we
ill regard this pledge as sacred.
"We further agree not to
ant, for the crop of 1912, more
tan 60 per cent. of our arable
nds in cotton.
"We hereby agree to forward
J. Whitner Reid, secretary
easurer of State Farmers'
nion, Columbia, S. C., by
stal money order, two cents
>r bale for the cotton held to
fray expenses of the holding
On the pledge there are the
owing blanks to be filled:
ame, post-office, R. F. D., No.,
imber of bales withheld.
And in accordance therewith
e followiug counties have
ted: Anderson, Abbeville,
eenville, Richland and others.
As pledge was promulgated by
e Farmers' Union.
Raise More Wheat.
Farmers, think about this.
iere have been 1,345 barrels of
ur shipped to Pickens since
,e first day of last July. This
$6 per barrel amounts to $8,
0. What portion of it has
en consumbed by those who
ght to raise it at home cannot
i known, but it is safe to say
ere are many farmers who
ty their flour that should not.
ad this amount of flour wa
ipped here at a season of the
tair when our farmers should
esupplying the local markets
ith home-made flour, which is
e best.
Another thing, this quantity
flour was shipped in the brief
rod of four months and to
te town. It would be safe t
ultiply the 1,345 bai-rels by
hich would give us 6,725 bar
Is inthe countr u. four mot~
1,680 barrels.each month.
ould also rer .sent an oui~
$40,350 for flour in this coun
in one-third of a year, or
21,050 for a year.
There is no reason why the
ople of this county should
end as much money as this
n flour.
A Fact or Two on Maine.
Maine retains her prohibitory
nstitution by a majority of
8 votes.
What state has the fewest
iminals? Maine.
What state has the longest
hool term and the most High
>hool graduates? Maine.
What state has the fewest
nters and the most owners of
>mes? Maine.
What state has the most per
,pita in savings banks? Maine.
What state. has the fewest
omen working for a living?
What state has the fewest
ildren in factory labor? Maine.
For The Monument Fund.
In this column from week to
eek will be published the
imes of contributors and the
nount contributed for a Con
deate monument at Pickens
mrt House, the size, kind and
her details to be decided later.
eviously acknowledged..$5.00
~rB. Craig............ 5.00
. E. Sutherland........ . 5,00
iWhy do you spend your
Loney for inferior tobacco
hen you can buy PENN'S
EAMPION from S. R. Kel
! Qatral, S. C. at the
ame pce the common
had wjil sost you else
knmetl executed
\ S I N
The Kind You Have Always Bought, and which has been
in use for over 30 years, has borne the signature of
and has been made under his per
sonal supervision since its infancy.
Allow no one to deceive you in this.
All Counterfeits, Imitations and "Just-as-good" are but
Experiments that trifle with and endanger the health of
Infants and Children-Experience against Experiment.
Castoria is a harmless substitute for Castor Oil, Pare
goric, Drops and Soothing Syrups. It is Pleasant. It
contains neither Opium, Morphine nor other Narcotic
substance. Its age is its guarantee. It destroys Worms
and allays Feverishness. It cures Diarrhmea and Wind
Colic. It relieves Teething Troubles, cures Constipation
and Flatulency. It assimilates the Food, regulates the
Stomach and Bowels, giving healthy and natural sleep.
The Children's Panacea-The Mother's Friend.
Bears the Signature of
The KiA Yoll Hare AlWayS Bought
In Use For Over 30 Years.
New Times,
New Things
The old fertilizer ~
formulas are giving
way to the new. At
one subject should be
the fertilizer formula
that will furnish a balanced ration to the crop and keep up the fertility
of the soil. To do this the fertilizer should contain at least as much
as Phosphoric Acid. Our note book has condensed facts essential
in farmers' meetings and plenty of space to record the new things
that you hear. Let us send one to you before your Institute meets.
A supply of these is furnished by request to every institute held in several states.
We will be glad to send a supply delivered free of charge to every Institute, Grange
or Farmers' Club Officer on request. It contains no advertising matter.
Continental Building, Baltimore, Md. Monadnock Block, Chicago, L
93 Nassau Street, New York
This space belongs to
The man who furnishes Square Meals on short
notice and at right prices.
Open Day and Night to Serve You.
Fres~i~~ish Every Week.4
Leave- youi call and see us.
(Prickly Ash; Poke Root and Potassium)
Prompt Powerful Permanent
- felt very quickly when other mdi you to staycue
ssen- clears th ran-srntenrseliestsnad evs
A positive seii o lo osnadsi iess
Drives out Rhuaimand Stops the PaIn; ends Malaria;
is a wonderful tonic and body-builder. Thousands endorse it.
Bargains In Shoes
WeT have a lot ot odds and end
in shoes that we are offering at
get sacrifice. ComTe and loo
aemi over and if you can get a f
r any miember of your family, yo
ma save money.
Let the Chickens and Egg
ome along and all the money yo
an spare.
CAIG> Os co
Ione-price C ~.e hagtsy
It will pay you
to come here
to do your T
to d o y o ur Y ou are alway
- iall hoppig our stock and g
you buy or not.
This department is full of snap and style.
They are cut and made by experienced
tailors, and will fit you perfect.
Ladies' and Misses* Coat Sweaters $1.25 TO
These sweaters fit snug and close, and
are made up with heavy fancy ribbed ef
fect. The colors are red and blue. Ev
I ery lady and miss should have one of these
'for the cold winter months.
TO $1.00.
Ladies' and children's undervests and
pants to match. These goods are made
up with a good heavy rib effect and are
very elastic and comfortable.
WOOL GOODS 25c TO $1.50.
We hae all the new weaves and colors
for making coat suits. These goods are
the real tailoring quality and the newest
of styles.
See our silks for fancy shirt w. ists arid
dressy dresses.
We have cotton suitings in all leading
shades, and weaves. 'lhey are good this
season for one piece dresses and light
Sweight coat suits.
WOOL BLANKETS $2.50 TO $6.00.
Now is the time to get your wool blank
ets for winter. We have all the leading
styles and colors.
Cotton'tSlankets are good for those who
do not like the wool ones. These are
large size and are smooth and warm. We
have the colors.gray, red and white. See
State of South Carol'na. Iwill be resold
County of Pickens, purchaser.
In Court of Common Pleas. ,Purhae *
Hattie Gaston Garrett, et ai, frrcrigr
Piaintiffs.. Shiriff
Fannie Gastan, et al.
Defendants, State of South (
In pursuance of a decretal order made County of Pic
in the above stated case .y his Honor In'Common Ple
Juwlge Geo. E. Prince at his chamber at WV. E. Findley,
SAnderson, S. C. dlated Oct. 25, 1911, and va
on file in the Clerk's office for Pickens J. T. Rice, et al
county, I will sell to the highest bidder In pursuance
abefore the court house door at Pickens, the above stat
S. C. daring the legal hours for sale on Geo. E. Prince,
ksalesday in December 1911 the following son. S. C., dat
described real estate to wit: sell to the highs
All that piece, parcel, or tract of land December, 1911
siuae lying and being in Pickens couin- for sale at Picki
ty containing eight (8) acres more or l owing real esta
Uless according to a survey and plat of 1st All that
same made by J. P. Attaway, Surveyor, Iland in the oo
dated Sept. 10, 1906 to which plat refer- tatoe township,
ence is hereby made for a more comn- Herd. estate of
plete description said land is bounded by Turner and othe
S Ferguson, Looper and Holder land and dred and forty
being the home place of Kimsey Gaston 2 All thl Lt
.at the time of his4eath- land on waters<
Terms of sale, onie half (j) cash on day on a spanish oali
of sale the credit potion payable in one theince east to a
year from <Jay of sale and-to be secured pine, thence, so,
by bond1 of 'the pnrahae and mortgage ner, containing
of the pre'mises with leave to the pur- less adjoining
chaser to pay alI cash or to anticipate W. J. Duffie, J.
payment thecredit portion to bear in- Terms cash.
*terest from da of sale at the rate of all p-:pers an'l r
eight per cent per'anum.
Purchaser (to douiply with the trms
fal mia...m onahuror the
s welcome to inspect
at our prices whether
For men's shoes this line is un
in value.- We have al the latest
in tan, gun metal, vici, kid and pate
This well known line shoes for
needs no introduction
most ladies know wh.t a
For boys and girls this shoe is th
satisfactory on the maiket for schoo
dress wear. Buy one pair, means yo
ture business.
$1.25 TO $4.00.
The Star Brand, onger -thani
>L%.Star Calf,~ , etP=I.
N o fau want service buy o6e
of these brands.
BOY'S CLOTHING $2.00 TO $8.50.
Bought in large quantitis, enabes us
to sell you cheap. With every suit we
give one baseball-and bat free.
MEN'S OVERCOATS $5.00 TO $25.00i.
We have these coats in all the leadig
colors--blI pepper ad
selt. They are real on
proof. We also have a stro
tissue rubbered rain coats-prices
to $6.50
Wright's Spring Needle is the fame
brand for men. They are very elastic-ant
durable. We also have the medium
with a light ffeece in bleached and
bleached for Soc a garment.
MEN'S HATS $1.0 TO $5.00.
The Longley $3.0o, The.
Primrose $2.0o, The R
Victor $1.oo to$x.25
P4MW. Roark
Pickens County, S. C. Wees alseNwo n
rk's Sale. eero dinn~
arolina.Ths ar teefrt
~kens, mnsalnsglrt~id
as Court. ceioso h adSrh.~ _
Plaintiff. eesd htte~e
of a decretal order in ocoki h oe0A0b~
ed case made by Hon. i n hyhvwy
at chambers in Ander-r~ uh ud ~~
ed Oct. 25, 1911, I will Ot noDmn 31
et bidder on Salesday in B
,during the legal hours -
ins, C. H,, S. C., the fol
te, to wit:
piece, parcel or tract of S~e~*
nty of Pickens, in Eas-- MsnCA .&A .m&
adjoining lands of J. J.StraYngt n rIf
Jordan Rice. William tefl of
rs and contain one hun
(140) acres more or less. Catr4-~~it n
iece, parcel, ortract of -a ihso o fe tyfl
:f Cedar Creek beinningmon
:, thence north to a rock, ofpMes-0VY -
rock, thence south to adynghafe e-irtni
ith to the begining cor- tidSnas
fifty acres (.50) more or W .W-et~vr i~
ands of Milton Hester.,n hr usdTngt.~
D. Crershaw and others.
Puachasers-to pay forCtyouclf tS A~
Slr fCu tatfSuhCr~a
-Pickens ountyf8.i.kensti
By J.B. Pobat

xml | txt