Below is the OCR text representation for this newspapers page.

■■■■ THE ATLANTA GEORGIAN. WEDNESDAY. ATTODBT 1, 190*. Starts an account with a LITTLE HOME BANK and book only in the SAVINGS DEPARTMENT OF THE NEAL BANK In,, •.m allowed at the rate of THREE AND ONE-HALF PER CENT. PER ANNUM, compounded semi-annually. E H THORNTON, President. W. F. MANRY, C.ihier. H. C. CALDWELL. Asst. Cashier. WA YS OF MR. JORDAN NOT UNDERSTOOD BY THE FARMERS’ UNION Th* Sooth's Ideal College-Preparatory Home School ^ Georgia Military Academy : College Park (suburb of Atlanta), Ga. Your son's destiny i* fixed a* heparaas from 12 to 18 year*of age. The will Fully f etisfy the peculiar needs of my and Inaure his fulleU development, eoeial. moral, intellectual, nhvalral ’ Correa pond e nee with u* will aid any parent. P In this academy everv teacher is a apecialiat. everyonportumty it afforded every boy. the full limit of attendance in reached every year. Splendid equipment, perfect health. delightful Southern winters of famous Piedmont region. 1.3100 feet above sea level. About M Hr. with pr..id.nt snd faulty of 10 llUth.., rjar.1 and WKial tone. Select patronage from many .States. Regular military drills rood gymnasium, modern readinr mom. wholesome athletica S35 lr.ln-1 Sir-ctor, Ihoroosh I>r.pu»tio, for soy col].,, or th. . al*(onal academiea, bookkeeping. stenography, typewriting, manual national acaoemi Cot. J. €’. WOODWARD. A.M. tramini:. music. 'Organization is 44,000 Strong in Georgia And Its National President Talks of the Southern Cotton Association and Officials. WASHINGTON SEMINARY North Avenue and Peachtree Street. ATLANTA. For Girl. »nd Young Ladle.. Boarding Department atrlctly limited to provide refined home life. Classes divided into sections averaging about ted students to secure personal instruction. Faculty of eighteen college graduates. Primary, academic, college preparatory, music, art and elocution. Certificate admits to Vassar, Wellesley. Etc. 28th Year begins September 13, 1906. • Catalogue on application to UNIVERSITY SCHOOL FOR BOYS, STONE MOUNTAIN, QA. A hams school limited to seventy boyi with eight experienced teach ers. The largeet and beet equipped school gymnaelum In Georgia, with a competent physical director. Opens September 12. Write for catalogue. W. B. GRIFFIN, Principal, Stone Mountain, Ga. w —rr J THE ALABAMA BRCNAU - ELTAULA, ALABAMA. ■ — A high crude College-Conservatory for /oung ladles. Thorough course In lite rary, special nilvnntagea In tnnslc, art, • - Orchestra of 15 Instruments, new buildings located upon a nt elevation. Ideal winter cli mate. splendid health record. Ala. Dre- nnu Chautauqua takes place of usual rommeneement. Specially low prices. Write for lilnatrated catalogue. —■ ATLANTAyy f/mme/laavU ft WMITtHAVW Thorough courses of Bookkeeping and Shorthand at greatly reduced rates. Good positions secured or money re funded. Ask our hundreds of gradu ates and thoir employars about us, Clip this ad, sand to us, and raceivo large illustrated catalogue. MEET TO DISCUSS THE POSTAGE RATE II. & Harman, of Atlanta. Is sending out a cnil for a mooting of tbe Southern Trade Press Association, to be held in this city on August 17 mid IS. The principal matter to be discussed at this meeting will ho tho recent act of con- Mm In appointing a committee to look Icto the question ««f raining tho postage iat* *» 011 second-class matter in order to make up to some extent the annual de ficiency In the postofflre department. The n.•••■ting will he umler the auspices of the .Southern Trade Press Assoclatlpn. Hit at- tea dance will be welcomed from all classes of periodicals, nnd it is thought representa tives of every newspaper organization In the South will ho on build. Mr. Harman experts to see between tlin-e hundred nnd live hundred representatives present PENNEY RAILROAD REDUCES TICKETS By ITlral. [.Dial Wire. Now York, An,. 1.—Th. r.un.ylvsnla ltnllroad Company will p«t on Ml. Hoplrrn p, r 1 1.000-mllc tlck.la for $30. They will bo i.illil on nil linen earn of rittsbnrg nnd Ilrlo and will lie Irnnnffrablo. One-way fnree la the name lerrilory will Iw nelueM to rent, n mile. Thla la a cut of 1 cent 8ALOONIST FINED »5C0 FOR KEEPING OPEN 8UNDAY. Ppeclal to The Georgian. Savannah, On, August 1.—In the city court yesterday Judge Norwood lm- P'.ned a line of 1500 and coats on Pero Alamaros, convicted of keeping his saloon open on Sunday. Judge Nor- Ml, NM that ha was determined to break up the practice of keeping bars open on Sunday. WOODMEN OF WORLD ORGANIZE A CAMP. TAGGART SIDESTEPS ' PART! CONVENTION Ily Private Leased Wire. Indianapolis, Ind., Aug. 1.—Tom Tag- fart will not attend the first district Democratic conf resslonnl convention at Petersburg today aa he hud announced he would. It had been stated that Tag gart would make a speech nt the con- vent Ion. After the raid on the French Lick Casino, the arrest of Rambler* there and the confiscation <.f their parapher nalia, It was thought by the leaders of the first district that It would bq. bet ter for Taggart If he did not appear at the convention. He took the hint. I loo. R. F. Duckworth, national president of the* Farmers* educational nnd Co-opera- tlvp Union of America, which has a mem bership of 41,000 formers lu Georgia, was asked Wednesday by a Georgina reporter if he had rend the reflections agalust the of ficials of the Southern Cotton Association, and uhat be thought of them. President Duckworth said: "I am not surprised. You see, anybody can belong to the cotton association. It allows cotton dealers to take port In the worklugs of the association, and, of murse, they will look after their own In- terasts." "What do you think of The Atlanta Georgian’s charges that Ilarvle Jordan end his counsel had caused the Southern farm ers to lose thousands of dollarsT' **I think It Is true. Cotton would never have gone below Q cents, the minimum price set by the farmers* union. If Jordan bad not Oiled tbs papers full of his' cry for 15 cents cotton. Ills srtlcles were written lu such a way os to cause tbe Spin- Mi,«( Iiv*Ml ta'Mfm that tbs farm- ers of the South had gone wild." / “Didn’t the farmers' union loHom Mf. Jordan’s move?" “So, no, no. The farmers’ ptflon has never followed Mr. Jordan. He has fol lowed us all tbe time, until be Weut wild nnd dot-hin d top ].i cent cotton, aOd that J« tho time bo got left." •'What do you moon by his following the farmers’ union?" ••I mean that the asroclatlon twice edop ed the price set by the farmers' nnton, won; but when It undertook to lend, farmers suffered for Its blunder.’’ "To wbnt two times do you refer7’’ "The first time when the farmers’ u set the minimum price In 1904. Tlio country mil.hi* thriffighout the south mot Dcoomhe 17, 1004, aud ratified the minimum prl named by the Texas officials. In January 1906, the Southern Cottou Assocfatlo born, nnd nt Jtn birth Indorsed tbe prl we lind set. Tbe second time was when the farmers’ union offrlals. In August, 1905, set the minimum |»rle© for the seal 1906-1906 at 11 cents. Tbe cottou association met In September and Indorsed the prb U cents. , "Mr. Jordan tried to'get tbo farmers' union to reduce tbe price set below • • r.t-* and we refuse.l Tle-n he tried to got us to put up the price above cents, and we refused. We never have been abb* t" Minb-l>l:l lid ll.irxl.- .Inrd.m'H Hi" lives to these strange propositions. "The time Is not far distant when t farmers will quit Ilmei.llig 1-» p'*lltl.-|n nnd speculators in matters of this kind." "What do you mean?" "Please, don’t ask me any more ques (Ions, ns 1 will say no more tor publication at this time." CHAS. D. FREEMAN TO MAR VIE JORDAN ON COTTON DEALINGS COURT FINES NEGRO FOR INCENDIARY TALK. 8p«clal In Th* Georgian. Chattanooga. Tenn., Aug. 1.—Doolay Jackson, a negro, has been lined $50 and coats by the city court on a charge of Inciting a mob. His atatements con, corning the white race are Bald to have been made soon after the death of John Parker, a negro who woe fatally shot by Patrolman Clark. Increete In Population. Special to The Georgian. • Chattanooga, Tenn., Aug. 1.—Accord' Ing to a canvaa made by Captain K. H. Phillips, the city has a population of 52,000 and that there are 15,000 chil dren of school age In the.city. This Is a gain of about 2,000 children of school age and a gain of about 12,000 adults. . HpeHal to Tbe Georgian. Ilonmnn. Go., August 1.—Bunyon Cheek, who has been here for-about a urck, has been very successful In or ganizing a ramp of the Woodmen of the World at this place. About 25 will be taken In tonight aa charter mem bers, nnd Woodmen .of high standing win be present from Elbert on. Hart- v eil and Canon to assist In ths Initia tion. THE TRIPOD 37 N. Pryor 8t„ and a DuvfiUm ARTIST Will bring you a ssmpls-card and give you an estimate on Tinting your wells with DECO-MURA, the new sanitary Wall Finish, Handsome Brass Pieces We are displaying a magnificent collection of brass wines just ndw. A few arc shown in our window. Desk appointments, Jardinieres, Wood-Boxes, Coal Scuttles, Unis, Smoking Sects and the like. Substantial ami artistic. MAIER & BERKELE dreaand to Ilarvle Jordan* president of tho Southern Cotton Association/ by CfeMw D. Freeman, of Charles D. Freeman & Company* New York. Mr. Fieenwu »* one <*( th* beet known brokers In New York, anil hJa firm baa branches in New Orleans, Savannah and Liverpool. He la an authority on tin* "'ttnn inurk'-t, much In th- “nun* light that Henry Clews la an author ity cn things financial. Mr. l-’rcertrtn's letter to Mr. Jordan Is on Interesting one, dealing with the question ot buck et shops and exchanges and strongly defending the legitimate exchange. The letter follows. * Dealing in Cotton Contracts. To Mr. lhirvl** Jordan. President "f tho Southern Cotton Association, and Editor of The Cotton Journal, Atlanta Ga. Sir: My attention, has just been called to an article prepared by j you for the Atlanta Credit Men's Associa tion, and published In a rocent issue of Thr Atlanta Journal. I have read il w ith .some rare. As I am a membor of the New York • v»tt..n exchange and of the New Or leans cotton exchange, and through toy own Arm and that of my associates, Messrs. Olbert & Clay, of New Or leans, represent a large Southern clien tele, dealing In spot cotton and cotton contracts, I believe I may bo pardoned for construing your attack upon tho New York cotton exchango as a per sonal one, nnd nlso os nn affront to every Southern customer of aura who contracts for cotton through these ex changes. As I understand it, the main purpose ot your article was to forward tho passage of a bill now pending in the Georgia legislature, to prevent dealing in cotton contracts in the state o Georgia. I say I have read your artl cle with enro, but I confess I have failed to And one sound logical argu ment In support of your contention. You Indulgo In vituperation and wan ton calumny In characterizing the New York cotton exchango os a "den of lnqulty," and a "clearing house of cor ruption," and you make various bare* Diced statements which would bo un worthy of notice If It were not for ths official position you hold ns president of th© Southern Cotton Association, and as editor of a journal which you are attempting to make the recognised organ of that association. It Is plain enough to any reader of your article that you not only condemn and would destroy "bucket shops" and "local exchanges," but also the New York "den of iniquity” and every other cotton exchange in the United States, for you state that the Southern Cot ton Association, in all Its stats and national conventions, has passed strong resolutions demanding tho enactment of laws by all Southern states prevent ing speculation In cotton contracts through any source. Hae It ever occurred to you that If you and your association could ac complish such legislation— That, you would destroy the power ful competition that has been built up under the contract system— That, the number of buyers would be lose, and the price consequently lower— That, buyers In control of large amounts of capital could at opportuno times secure better bargains than now— That, the whole volume of the con tract business could be transferred to Liverpool, Havre and other foreign markets, thus placing us at the mercy of foreign traders— That, the fluctuation In prices would be more unsteady and violent? If you doubt that such would be the result, I would refer you to the testi mony of numerous cotton merchants and spinners given to the United States senate committee on agriculture, and reported to the senate in Febru ary, 1896. I especially recommend this report to you because* It would en lighten you upon some matters regard ing which you seem to be densely Ig norant. For Instance, you say: "No spinner would think for a mo ment of executing a purchase of a con tract for cotton to be delivered at a future date through the New York cotton exchange with the expectation of getting what he bought." In a letter to the senate committee, Mr. Elliot C. Clarke, treasurer * t the Boott Cotton Mills, makes this state ment: "It Is not unusual that '.arge contracts for the manufacture of goods, sometimes covering six to twelve months deliveries, are offered during Urn early summer. Sometimes It would be Impossible to procure promptly sufficient cotton to All these contract* tft the time they are taken. By means of the exchange the cotton can be obtained when needed, and the ado. I frequently have had occasion ! to «buy cotton In this way from respon sible Arms"—and ho names three New York Arms with whom p,. made con tracts, other spinners make similar statements. Hut whin Mr. Shn-ktOH. treasurer of the Merrimack Manufac tunog Company', wrote to the commit teo la csporlolly worth /-nir consldcro tlou: "My onlnlotv’ ne said, "Is that the system or selling cottm f r future delivery li. a great convenicuoe te man- facturers. It enables them to contract ahead for their goods and to secure raw material (<>v making tin* same at certain definite prlc*-. It tends to pre vent extreme fluctuations In price which existed before tho exchanges were started. With those mAnufac tutors who have a large quick capital; the best way H» buy their cotton Ih to wait until It mines In freely In larger quantities than a legitimate demand for spinning will absorb. Without tho fu ture system cotton used to crowd |n/i the market, nnd the planter or fact' would be compelled to accept tho best price he could get, which was of great sorvlco to those manufacturers with a large capital, ns they could tako ad vantage of the pressure and buy at ex treinely nnd abnormally low prices. This chance has been taken away from them by the system of futures, and en ables tho factors and planters to dJs pose of their surplus at such a time through tin* iiuilium of tin- cotton ex changes, nnd enables them In this way ■ get bankers and others to carry lt r ' ■ Mr. Edmund Dwight, treasurer of the Stark .Mills, • \pit-NM-d to tin- «oinmlt- thls opinion: "If ths planter wishes to prohibit the system of buy ing nnd selling futures, I think the manufacturers should }et him have his wish. The effect would be to cause a large accumulation of cotton at the re ceiving points, at certain seasons, which, being held for actual cash turchitaes. would And a smaller num- •er of buyers than now exist There would be times when tho load would bo greater than the factors could car- ry. an<l n buyer with mtdy in*m.*y C-Iil'l buv |M grtat advantage. If fu tures were abolished the number of buy ors would be less, and the averago price lower." have quoted at length from this tf-f-tlmotiy tak' ii In JR9.'», hta-aUM- It np- I-lh-H with JuM u*8 much f«»rc»- to pt»-s» nt conditions ns It did ten or twelve years kgn^r ■■ Ot course you will not deny the fact Mi.it . mm-ii.m ll m tout Ion* in |al. •*, mm harmful to both the producer and con- Min.'-i. and In tills • -mn.M thin I Invita your attention to a bulletin published by the United States department agriculture, entitled "Production and Price ot Cotton for One Hundred Years." On page *0 a series of tables Is presented, showing the rnngn prices of middling cotton In New York since the year 1921. These tables show that prior to the establishment of the cotton exchangee In this country the Auctuatlons In the price of cotton were far more extreme and violent than they have been since the Inaugu ration of the contract system. The department's bulletin makes the fal lowing deduction from a comparison of SHIRTS WELL LAUNDERED are indeed a luxury—also a necessity such weather as this. But the-life of the shirt must be considered. Wc do high-class work with out injuring the clothes. Try Us and Se6 Excelsior Steam Laundry 4042 WALL ST. TELEPHONE 41. GIRL'S ASSAILANT SAVED FROM MOB, Trial aud Execution iu Ken tucky Consume Fifty Minutes. By Private Leased Wire. Mayfield, Ky., Aqg. 1.—AJ though full 10,000 persuos were on tho arene, only a ft hundred wltuosod tho legal hanging her last night of tho negro Allen Mathis, criminally annulled Miss ItM McCtal litut Wednesday evening. Within fifty ruinates from the time th. Jury was sworn, the negro had been tried found guilty, sentenced, hanged nud i> non need dead. The exei-utlon look place ot 9 o’clock In tho yard of the Jail. Almost the entire fence nrouud the scaffold wns torn down by the crowd which desired to witness the hnnglug. It was about 6:40 o'clock yosterday Ing when tbe negro was brought here fret r Depot iroompniiL srllle. Ths y met tbe train and tin* negro marched to flip mnrt house. Hoveral attempts wore made to seise the negro, and bo was twice la tbe possession of tin mob The soldiers surrounded the negro and n number of members of the HopkIiisvIIIs •«*mp:in\ w••!«• • i'iii|n'll. - 'l to draw iiH-tr om nnd threaten to tine them unless tbe uml fell baek. Tbe negro would have njet his death by lym-hlug. bat the crowd derided to let the Inw Inflict the punishment after, It prortM-di-d that far. YOUR EYE GLASSES Aro nn Important factor In yoyp op' pearnnee. The Integral Kryptok Invis ible bifocals are dressy ond real eye comforts. Fur nnd near vision In one gloji*. Made exclusively by John L. Moore & Fons. In Georgia, 42 North Broad street, Predentin! building. TRY A WANT AD IN THE GEORGIAN *1 th© range of prices since 1821: "Laav Ing out the war period, nnd those years when the crop of the United .states had not reached a supply equal to that Just preceding the war (Buy from 1806 to 117*), there tippoftrt to have been trnduA) diminution In thn rang© the Auciaationn being less dur ng the decade 18S1-18D0 than at any other period, that since 1890 being slightly In excc8H because of a contin ued movement In the price (occasioned by tho enormously Increased crops) which had not before existed." The only excoptlon that can be made to thin statement Is the violent fluctuations in 190t, when there was nn extraordinary deinnhd for cottoo, occasioned by the cry small crop produced. You make the statement that Inst ear tho South produced 10,500,000 ■glee of cotton, while tho records of tho big exchanges will* show dealings In nearly :,on,onfM*no bales in the past twelve months; that If every transac tion had been a bona Ade one It would have required the delivery of fully 2.'.o,uoo ( ono Imb-H of . .ittmi; thut tin* legit linn t* laws of supply snd demand are not recognised, etc. Thoso statements urc merely pre sumptuous. A contract for future de livery Is something like a check or bank note. A check for 1100 mny be Indorsed to a number ot persons and thus pay debts aggregating many times Its face value before It Is cashed.nt the bank. 'A $100 bank noto may during the course of a day discharge $1,000 of Indebtedness. And to a contract tor 100 bales of cotton may bo sold several t ini'- < •Piling th<' 'lav, ..r rift \ tlnu-t !•• ■ fore It expires, and every time It Is sold It In recorded as a transaction In Pm ImiIi-w ..f cotton If U Mi-.nM In* sold fifty times tin- expiration of the contract or the day of delivery, this would not moon that 6,000 bales had been sold, but only 100 bales trans- f. i ic«l iif'v Urn. - As to tho oxchonges manipulating prices in disregard of the laws of sup ply and demand, tho assertion Is too ridiculous for serious consideration. There Is perhaps no closs nt business men In the world who study so care fully these economic laws. BInco the organization of tho exchange they havo hod better toeHIMes than any other dans >.f IniHnoKrt men for ascer taining and mti11 ■ IpTtlng tin* pmdtn trim • >f th.* raw mat la I dealt In and lie- demand for It, for, like no other great commodity, practically overy bale of cotton may be traced from tho place of production to the place of consump tion. The exchanges could havo no existence If they attempted to Interfere with tho laws of supply and demand. Tho laws of supply nnd doinand are i forceful us the laws ot phvslcs, but Is duo to your efforts that the supply ls been underestimated nnd tho de mand exaggerated, which has resulted HI S.M |.M|M I.,*- Id Hw I Id,In. .-I H ,,f , dt ton during ths post year. The Kouth will never forget, and members of your own association so state, that your 15-rent propaganda has resulted In great and Rerlous losses, os have the speculative transactions of people who have basod their Judgment on your assertions of a small supply. our activity In support of the Boy kin bill Is Interesting, especially as you bring to bear upon it all (he false reasoning of which you are capable. There Is hardly a difference of opin ion as to the advisability of suppress ing "bucket shops.” as they aro really the temptation for gambling for those who follow your reasoning, and who should conAne themselves to their le gitimate business efforts; but It strikes us all as rather absurd that, assuming the attitude you do in the matter of cotton contracts—Ignoring the fact that they are the rpachtnery for the distri bution of the cotton crop—you should continue to foster as the secretary of your association, Richard Oheatham, who is said to be auch a large stock holder In one of the "bucket shops" In the city of Atlanta, Ga. It la astonishing that yn iqtoto la arrogate unto yourself credit for the edvence In the price of cotton during 1005. Has It ever occurred to you that the sole reaaon tor this advance was the demand to supply the world's re quirements? Ae a Anal word on this question of the supremacy of your Individuality, I take this occasion to nenure you that you can rely upon the growing Intelli gence of the people of tho rfouth to see. their own way to success on the broad. t economical lines. They nr»* fully Informed ot tho great work! factor?* are at work. nnd. in tho near fu ture. when the Kouth Is Spoken of a?i tho most prosperous part of tho United Htatea, do not toll us that its sorcoss accomplished through your of- \>i % 11 IIl v vntir-. CHARLES D. FREEMAN. uBI HORSE THIEF LOOSE, BARNS ARE GUARDED By Private Leased Wire. Rockville, Md., Aug. 1.—Joseph H. Brown, notorious as n horse thief of singular ability, pleaded guilty In the circuit court yesterday to two Indict ments charging grand larceny, com- milted n dozen years ago. Judge Hsm^ dersim suspended sentence and releas ed tho man on his own recognisance, d it ing good behavior In onsequenop « tho resident* of the Rockville nelghr borhood arc* lm cn*ed and alarmed and have purchased the entire stock of star* hie locks and bars tho local stores of- WORKING Chases Dirt row THE 1910 EXPO. Boost the Big Show by ueing OLD DUTCH CLEANSER EVERY TIME YOU BUY A CAN YOU MAKE THE CUDAHY PACKING CO. CONTRIBUTE ONE CENT TO THE EXPOSITION FUND. A LARGE 8.FTINOTOP CAN FOR TEN CENTS. ALL GROCERS BELL IT