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THE ATLANTA GEORGIAN.
Turns DAT. AI*C1C0T
testimony at afternoon and night sessions
of THE COTTON ASSOCIATION INVESTIGATION
After Ten Hours of
Listening Commit
tee Called it Off.
The hearing of the evidence in the
. ..He.ilon of Richard Cheatham,
"J e iry of the Southern Cotton A.-
?" «ai taken up Wednesday
:"n at . o'clock, after a recce,
luncheon. A number of Interest
?' Ivltneeaea were examined and the
continued until 7 o'clock, when
Tnoiher recce, waa taken for dinner,
i nhrht eeeelon, which continued until
it o'clock and which cioaed the evi-
aence, **ȣ*'* Q0N 8ES SION,
The committee took up the Invest!
.atInn at 3 o'clock. A crowd even
larger than that at the morning eeeelon
was present.
\\* R Fagan, manager of Glbert &
L-lav appeared on an Invitation from
,he"committee. He took the etand.
Mr Andereon, upon being requeued by
Chairman Johneon. acted ae queatiorter.
• Mr Kagan le ready to answer quee-
tlons if Mr. Cheatham agree*?' aald Mr.
A "That", up to the committee,” eald
Mr. Cheatham. am not conducting
this examination."
• Mr O'Grady refueed thi, morning
to permit hie private affair, to be ex
posed,” he eald.
“If Cheatham Wanted Investigation,
Mr Cheatham refueed’either to for,
bid or permit Mr. Kagan to make.a
statement. Mr. Anderson urged that
If Mr. Cheatham were really anxidu,
for a complete Investigation he would
consent to have Mr. Fagan talk. Mr.
Fagan waa only waiting for -the per
mission of Mr. Cheatham, who wa,
the only man Kagan had known In the
transaction,. •
Mr. Andereon began by a few pre
liminary questions, relative to hi, posi
tion at Glbert & Clay's. Mr. Fagan
staled that he knew all about the
Cheatham trade and with Mr. Cheat
ham’s consent wa, willing to make a
statement. .....
Mr. Cheatham remained ailent.
•There you are, gentlemen!” said
Mr. Andereon to the committee.
“I Was Indignant.”
Mr. Seymour, of the committee,
asked why. If Mr. Kagan had given this
Information to Mr. Anderson, he re
fueed to give It now.
• I gave this Information to Ander
son." said Mr. Fagan, “because the pa-
lier published by Mr. Jordan had made
a bitter attack on the New York ex
change. and I was Indignant. I told
.Mr, Anderson that If Jordan would look
Into his own business household that
he would find out thing, about aome
speculation there.
No Suggestion to Give Consent.
Mr. Seymour continued to ask why
Mr. Kagnn refused to make a statement
without Mr. Cheatham', consent, but
no member of the committee suggested
that Mr. Cheatham give that consent.
Mr. Anderson believed that the stage
• had been reached where Mr. Kagan
should proceed without Mr. Cheatham’s
consent, If he had tried to secure this
consent nnd failed.
The committee then agreed that such
questions be asked as Mr. Fagan might
be willing to answer.
“It never occurred to me,” said Mr.
Anderson, “that Mr. Cheatham, after
asking for an Investigation, would re
fuse to permit any question that would
throw any light.”
"Oh, shucks," remarked Mr. Cheat
ham. -
Mr. Kagnn then answered questions
put hy Mr. Anderson. He said that
Cheatham had placed orders In the
name of o'Grady. All communications
addressed to O’Orady, care Glbert A
Clay, had been turned over to Mr.
Cheatham by the latter's instructions.
Mr. Kagan wa, then shown »copy of
the transactions said to have been
made by Cheatham. He confirmed the
statement as shown.
“Richard Cheatham, Secretary.”
Mr. Kagan states that the deposit of
14.000 for margins wa, made by
Cheatham In checks otj the Fourth Na
tional bank and signed "Richard Cheat
ham, secretary.”
When the transactions were closed
out In March Mr. Cheatham asked Mr.
Kagan to pay him the amount due In
two checks on New York, one for tt,-
• 3n.9o to Richard Cheatham; one for
1989,0- IO s. B. Bedford, Mr. Fagan
Stated, and these were paid In New
York and returned to Atlanta.
Deposited by Cheatham.
The Cheatham check bore an In
dorsement of Mr. Cheatham and no
one else. It first appeared In ihe Bank
of Commerce, at Memphis, Tenn., as a
deposit by Richard Cheatham.
The other check, payable to S. B.
Bedford, was given to Mr. Cheatham,
ihe first Indorsement was "pay to O.
M I jquhart, a B. Bedford.' 1 It waa
deposited In the First National bank,
of Greenville, Miss. Mr. Kagan had
seen these checks.
, Mr. Kagan stated that he did not
•mow Mike O'Grady In these transac
tions. He learped Sunday night that
it was the some O’Grady who waa for
merly a baVtender in the Read houae at
there '"' 10 * 8 ' Bnd whom he had known
Mr. Kagan said that when Mr.
< heutham closed out the P. A. .Lee
£«*« h * ha(l been given a check
P r ’MS-payable to P. A. Lee. Mr.
»^!?’ > '?, J d d not hnow Lee personally,
and did not know who he was. The
bee orders had been placed during the
same period as the orders of O'Grady.
They were handled by Cheatham In the
same way as the O’Grady deals. The
check to Mr. Lee had been drawn on
the Maddox-Rucker Banking Compa
ny. It waa then Indorsed by Leo and
next by Richard Cheatham. It waa
then paid to or cashed by the Pied
mont hotel. The checks deposited to
cover the margins, amounting
34,000, had been signed "Richard
Cheatham, secretary."
Indorsements, Richard Chaatham.
The Indorsements on the checks paid
had been simply "Richard Cheat
ham.”
Mr. Kagan aald when he received
the checks signed "aecretary" he took
It to mean that It waa as secretary
of the Southern Cotton Association. He
said that he and Mr. Cheatham had
been friendly. They were naturally
not friends now.
In response to questions by Mr. Sey
mour, Mr. Kagan said he had bren
with Mr. Cheatham to some extent
and wna rather friendly.
Something Doing in Cotton,
When Mr. Cheatham opened his ac
count he told Kagan that he thought
there would be "something doing In
cotton." He said be wanted to open
the account In the name of Mike
O'Grady. It was Mr. Kagan's lmpres'
slon that It was Cheatham's own ac'
count. He could not state positively
that Mr. Cheatham had not said "for
Mike O’Grady.” Most of the further
trades had been handled by tele
phone.
Mr. Fagan Rented that he told these
things to Mr. Anderson with a view
to Influencing legislation on bucket
shopa or exchanges.
Mr. Kagan said that he had once sug
gested that Mr. Cheatham buy some
cotton, during the period of the trades,
and Mr. Cheatham had done ao, re
sulting In a profit.
Mr. Cheatham asked If It waa not
true that he had told Kagan that
O’Grady waa a Chattanooga distiller,
who might make a gcy>d customer.
Fagan Reoalled It.
Mr. Fagan aald that now that Mr.
Cheatham recalled It, this was true.
Mr. Cheatham had offered to give him
a bottle of whisky sent him by O'Grady.
Mr. Kagan stated that he made his
statements to Anderson prompted by
a spirit of Indignation.
What Is the difference between a
bucket shop and a legitimate .ex
change!" was asked.
"Orders placed In a bucket shop are
not executed on the floor of any ex
change.” said Mr. Kagan.
"Does or did Mr. Cheatham own any
stock In the Piedmont Brokerage Cpm-
** ’/have been told so by Mr. Hamilton
Kraxler.” said Mr. Kagan.
Mr. Cheatham submitted a telegram
from Hamilton Frailer, of New Hamp
shire. stating that ha knew nothing of
the Piedmont Brokerage Company.
Frazier Said Cheatham Owntd Stock.
Mr. Anderson stated that he had a
statement from Mr. Hamilton Frazier
directly at variance with this letter.
An affidavit waa produced In which
several witnesses swore that Hamilton
Frazier had told W. R. Fagan that
Richard Cheatam owned an eighth In
terest In the Piedmont exchange,, but
that this stock was In the name of
Hotze and afterward transferred to A.
A. Fairchild.
Mr. Kagan said that when Cheatham
told him that O’Grady was a prominent
distiller It did make an Impression that
O'GTady' was really running the ac--
count, but he had not recalled this
until Mr. Cheatham reminded him of
during the Investigation. When he
was Instructed by Cheatham to read
communications to him and receive
checks signed by Cheatham, he then
gained the Impression that Cheatham
was conducting the account for him
self under another name.
Mr. Graves Testifies.
John Temple Graves then took the
stand. He said that He had been
drawn into the discussion by personal
comment. A criticism of him had ap
peared in the papers. It placed a wrong
construction on his position regard
ing the difference between bucket
shops and legitimate exchanges. Ha
was In possession of Information given
by Dr. Crawford regarding the own
ership of the Piedmont exchange. All
DR. CRAWFORD'S TESTIMONY
IN RE RICHARD CHEATHAM
In his evidence before the Invest!
gatlon committee Wednesday afternoon
Dr. J. M. Crawford made a statement
which reflected harshly upon Richard
Cheatham’s love for the cotton planter
and his motive In the attacks on the
bucket shop in the columns of The
Southern Cotton Journal. It was while
Dr. Crawford was talking of Cheat
ham's alleged connection with the Pled-
mont Brokerage Company. In which
Dr. Crawford Is a stockholder.
"In a conversation at the Piedmont
hotel I reproached Richard Cheatham
with being two-faced,” said Dr. Craw
ford. "I told him that In his attacks
on bucket shop^ he was hurting our
business, meaning his and mine, and
Inquired why he did It.
"Cheatham closed one eye and leaned
back In his chair.
"'Doc,' he said, 'that la the greatest
Card we ever plsyedi I got a batch of
orders from those farmers today that
waa ao high.'"
Dr. Crawford measured a • height
about two feet from the floor with hla
hands.
Dr. Crawford's statement was. sum
med up. that he Invested In the Pied
mont Brokerage Company with the
clear understanding that Richard
Cheatham was an owner of one-eighth
Interest ‘8s said that he had always
considered Cheatham aa one of the
company, had known he was Intimate
with Manager Hotze, who conducted
the shop, had talked with Cheatham In
an undertone of cotton matters and al
ways as If Cheatham were with him In
the company.
He admitted that Cheatham had not
told.hfm directly (hat he was Interested
In the shop. He said that Cheatham
had called him over the telephone a
short time before and had asked
whether he (Cheatham) had ever
stated that he owned an Interest In the
shop. "That conversation closed by
Mr. Cheatham's asking me to let him
down as light as I could,” remarked Dr.
Crawford.
The wltnesa stated that Manager
Love, of the Piedmont exchange; had
once told ' him that Cheatham and
Hotze, manager of the bucket ihop at
that time, hail apent a great part of
the night together In preparing a car
toon for The Cotton Journal. The proof
of the cartoon Incident was not brought
out. It waa afterwards stated, though
not before the committee, that It was
probably, an editorial and not a car
toon which had been meant. If any
thing had been prepared.
T COUNTY STREET
iDE
H. CJ. Uubbard, a clttxeu of Atlanta,
living near the river car line, appeared
tMtforc the county commissioner* nt their
•esalon Wednesday morning and Implored
the aaalatauce of the commlaalonera In forc
ing the contractor having In charge the
construction of the near road near the river
line and the property of Dr. Droves, to
widen the same to 50 feet. In accordance
with an ordinance passed by the commis
sioners some time ago
The evidence atilnnltted by Mr. Hubbard
waa to the effect that where the Louie-
vllle and Nashville road croses the new
■treet, the contractor la making the width
but tt feet, which, with a car line, inakea
the driveway exceedingly narrow.
Aa the coitimlaalonert bnd instructed that
the road should Ih* 50 feet wide, It wna
morad that the general counsel of the
road I* Instructed to see that the street
waa.made the required width nt once.
A. A. FAIRCHILD SUBMITS
CARD TO THE COMMITTEE
1 am an advertising man and compiler of
considerable experience, nud, as you are all
aware, am employed to hare published the
official proceedings of the association, which
has been done to the satisfaction of my
employers.
as you well know, not elected by
the members, and my only duty In connec
tion with the Southern Cotton Association
Is to look after the work connected with
the aforementioned l»ook of proceedings.
I am never counseled by any of the offi
cers of the association aa to what they
shall advise the members and followers.
My counsel is never offered or sought,
therefore I have always considered It my
privilege to do and act aa 1 see fit; pro
vided Tt does not reflect upon nny of my
employers or the Southern Cotton Associa
tion. With this In inlnd. 1 Invested In n
bucket shop, never for one moment think
ing that anyone could • connect this trans
action with the officers of the association
case, a
stock.
Inasmuch , T 3
motives I will not endeavc.
continuing to use this Information, volun
tarily given out by uivself. as a weapon
agnlnst the officers of the association,
thereby making a direct reflection upon
[rent organisation
the gentlemen I have had the honor
serving In an humble capacity.
I wish to atate to the Southern Cotton
Association that you have my profound
respect and admiration lu conducting the
campaign you are now engaged In. ah
though personally roy Ideas are not en
tirely In accordance with yourown. This
Is the first expression 1 have ever made
as to what my Individual opinion la along
these lines, nnd I trust you agree with mo
that I have a perfect right to my convic
tions, liecanae they are mine only nnd have
no Influence upon the public, nnd If they
did you are too great and lieneflclnl an ~
gaulsatlon, “ ‘ '* *“
t-n.pt to l_ H-AIBO
nil nrt‘ .(HI xmu ■ nil lu-iipru-ini nn nr-
itlon. for mo to permit myself in at*
to Injure you lu tlir .llehiest ilexrrt*.
that he knew had been learned from
witnesses. Mr. Anderson. Mr. Fagan,
Dr. Crawford, Mr. Cothran and oth-
""fiolonel Grave* had no direct Infor
mation that Mr. Jordan was connected
with any exchange or had speculated
on the market. He had heard that
Mr. Jordan had been connected In some
way with a New Yorker whose repu
tation waa broader than It was savory.
This waa a rumor and had been treated
aa such. He said that In the Georgian
of that afternoon, Wednesday, there
were published criticisms of Harvle
Jordan which, In his mind, furnlsned
a sufficient basis for Inquiry as to Mr.
Jordan.
Pstors Hsd Been Dismissed.
It was shown that 2k 8. Veters, of
Texas, who had written a criticism of
Mr. Jordan, had been dropped as an of.
fleer of the association. It waa prov-
however, that hla letters to The
Georgian, aa well aa to others, was
written upon the stationary of the cot
ton association and bore his name.
Colonel Graves stated that when he se
cured the communication he had not
known that Mr. Peters had been dis
missed from the association.
Wanted Dr. Crawford Invitsd.
Mr. 8mlth, of tho committee, sug
gested that Dr. Crawford he Invited
to tell what he knew about Mr. Cheat
ham’s alleged connection with '.h*
Piedmont exchange. He said that if
they did not hear Dr. Crawford some
newspaper might criticise the commit
tee. No action wus token at this time.
In answer to questions Mr Ander
son admitted frankly that he made
•he charges befer- the house believ
ing that such charge* would Influence
the legislation on tho Boykin bill.
It had slopped thtra he would not now
be before the committee. He was op
posed to the Boykin bill because It did
not go far enough In prohibiting bucket
ehopa ond It prevented necessary hedg
Ing by cotton dealers. The point he
was lighting for was hedging con
tracts.
Mr. Jordan asked why the bill was
Indorsed by the commercial organiza
tions of Georgia If It Is Injurious to
business Interests. Mr. Anderson snol
that the Indorsement of the Atlanta
Chamber of Commerce was an Indorse
ment of his position, as the organize
tions only wanted to .force oit the
bucket shops.
A discussion if :he Boykin bill bo
tween Mr. Anderson nnd Mr. Jordan
ensued. .Mr. Seymour Joined In the
dlscueslon and voiced hla own opinion.
Mr. Smith moyed that the committee
proceed to business.
Barry Cothran next took the stand.
He said that Hamilton Frazier had ap
proached him and asked him to take
stock In the Piedmont exchange.
“Chaatham Owned an Eighth.”
"Mr. Prazler told m« that Mr. Cheat
ham was an eighth owner In the Pied
mont bucket shop. I have seen Mr.
Cheatham with Mr. Hotze, manager of
the bucket shop, a number of times,
and had always understood that Cheat
ham owned etock In the bucket shop, '
said Mr. Cothran.
He knew nothing of his own knowl
edg* that would prove that Cheatham
had any connection with the
change. Mr. Cheatham had never
traded with Ware A Leland, which was
managed by Mr. Cothran.
Mr. 8eymour asked If Ware A Le
land had not sent out a message over
Its wire to Montgomery, Ala., that Mr.
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For Sale by all Druggists af $1.00 a Bottle
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worth of property fn Atlanta. Mr.
Cothran replied In the negative.
Mr. Cheatham questioned Mr. Coth
ran. He asked If Frasier had not told
Cothran that W. R. Kagan*was a part
ner In the Piedmont exchange. Mr.
Cothran denied this. Mr. Cheatham
said thaf Kagan had stated this to be
a fact.
Mi*. Cothran denied that he had told
Dr. Crawford It would be well to go
Into the bucket shop at the Piedmont.
Mr. Cheatham asked that the name of
Harvey Johnson, of The Journal, be
taken, and Mr. Johnson be questioned
on this matter. Mr. Cheatham endeav
ored to show that Mr. Cothran had
worked In the Interest of the bucket
shop. Dr. ('rawford was sent for to
make a statement.
Holland Curran Called.’
Holland Curran, of R. Seldenburg A
Co., was the next witness. He stated
that he would answer questions, but
would make no statements without the
consent of Mr. Cfieatham.
Mr. Cheatham refused to give either
consent or refusal, Mr. Curran then
said he would take this as consent. He
thought that If Mr. Cheatham had
nothing to be ashamed of he ehould
not object.
He had handled some cotton, he said,
for Mr. Cheatham under the name of
Mike Jones. Cheatham had said that
Jones lived In Chattanooga, .’fall had
been sent to "Mike Jones” In Chatta
nooga and returned by the postoffire.
The last transaction had been on July
I. Mr. Cheatham had come to him and
said: "Buy me 400 October." They
had asked him what name and he had
eald: "Make It Mike.”
”‘Mlke Jones,’ Said Cheatham,”
When aeked for another name he
hed said: "Mike Jones." Mr. Curran
had tried to get acreee to the books aft
erwards, but had been refused. Mr.
Cheatham's checks had been signed
Richard Cheatham, secretary." Mr.
Cheatjiam had lost all his margin and
145 more, which waa paid by him.
Mr. Curran said that the account had
been run In the name of “Mike” for a
week, and then the name of "Jones"
bed been added.
"Why did you take It for granted
that Cheatham didn't want his name
known?" was asked.,
Because Cheatham was a trusted
officer of the association, and I thought
he wouldn't went hie name known,"
■aid Mr. Curran.
"• can prove that Mr. Cheatham
traded wltb us by cancelled checks on
the Fourth National bank given by
him. These were signed by him as
secretary, and 1 took It that the money
was that of the cotton aasoclatlon.
“The first Intimation I had of this
Investigation was a notice not to ap
pear from J. B. Cheatham, manager
of my company,” said Mr. Curran. "I
came on my own hook because of Mr.
Richard Cheatham's attacks on the
broker^ and my profession.
I'Myi employers ordered me to say
nothing to anybody about this matter,
but I don't care a continental what
anybody says when I think I am right,
“Cheatham Celled My Manager Off.’
"Mr. Cheatham called my manager, J.
B. Cheatham, off In a corner last Sat
urday nnd conferred with him. He had
spoken:to me grufTly aa- he came In,
but after hie talk with my manager he
came out and slapped me on my back,'
said Mr. Curran.
The committee suggested that Man
ager Cheatham be called to testify. Mr.
Curran said that Cheatham had said
he would not Ap&rsr—that “all of them
seemed to be scared about something.”
Mr. Curran said that he had opened
the books for the Piedmont Brokerage
Company. The name of the stockhold
ers did not appear on the booke. He
did not know that Mr. Cheatham was
a stockholder. He was under obliga
tions not to give any Information re
garding the affairs of the Piedmont
Brokerage Company.
Put Under Obligations of 8iltnco.
He waa put under this obligation at 4
o'clock Tuesday by Mr. Love, man
ager of the Piedmont Company.
Mr. Curran said he had severed hla
connection with the Seldenburg com
uany when he decided to appear at the
Investigation.
Mr. Cheatham aatd that Mr. Curran's
story waa not correct In ell details.
The committee Interfered to stop high
words between Curran and Cheat
ham.
Nothing Against Jordan.
Do you know of anything against
Mr. Jordan?" asked Mr. Seymour.
"I know nothing,” ihlrt Mr. Curran.
"A. C. Moreland, a member of this
association, came to my office a num
her of times ond Interested himself
busily In finding out things about
Cheatham,” said Mr. Curran.
Dr. Moreland waa called In. He said
that he knew nothing of his own
knowledge, but he had lost money in
speculating and had naturally been In
terested In such matters. He gave no
further testimony.
Dr. Crswford Appssrs,
Dr. J. M. Crawford was Introduced.
He said:
Mr. Cothran came to my office
some time ago and asked ms to put'
some stock In a new brokerage com
pany. He told me earns > f the men
who were to be In It. He and Mr.
Frasier told me that Hli-hard Cheat
ham would he an owner of stork In
the exchange. Afterword 1 met Mr.
Cheatham. I never lukeii him if he
were a stockholder, but we talker al
ways In an undertone and ns If ha
were n stockholder.
Chtathsm One of the Sis,
Holse, the manager, . afterward
wrote down the names cl the six
itnrkhcloert ot the bucket shop and
Cheatham's name was on the list. Mr.
Hrtse wrote these down for me at my
request. We never epoke about these
things for some men don't want their
names known.
“Severn! time* I got after Mr. Cheat
ham about going after the bucket
shops In his paper. I looked on It aa
Having fores to pluy up this to
help the Cotton Journal, and at the
same time hurt our business, In which
he was engaged at Ihe same time. I
got after him In the Piedmont and he
■hut his left eye and said:
‘"Doctor, thM la the greatest draw
ing card of the day. I got a batch of
orders from those farmers today that
high,' (measuring Iwo feet with his
hands).
“Mr. Cheatham told ms he was go
ing to New York end he thought that
there would be something doing in cot
ton and would telegraph me. 1 told
him not to be too plain In his tele
grams. He did not telegraph me and
he explained afterward that there had
not been any Indication of a change.
“Talked ae Though He Wore."
"Cheatham iskid me a short lime
ago If lie had ever told me he wns a
stockholder. I told him, no, but lie
had talked with me ae though he were
( lie. 1 had always had that Impression.
In the last past of hla conversation he
asked me to 'be as easy on him as pos
sible.'
"Mr. Fairchild told me two weeks |
ago that Mr. Cheatham was not
stockholder. I replied that Mr. Cheut- i
ham had possibly transferred his slock
to Fairchild.
Why Did Hotze Skip?
"Why did Mr. H.xtze, tho manager of I
the Pledriiont Brokerage Company, |
leave the city?" was asked
"Possibly they made It too hot for|
him," snld Dr. Crawford.
Dr.- Crawford stated that hla sole
motive In nailing these statements
was because he thought that Cheat-
ham was acting wrongly aa a stock
holder.
“I Believe He Wes Stockholder.”
“I honestly believe that Cheatham |
wac a stockholder," aald Dr. Crawford.
“If I had not 1 would not have gone ]
In. I thought that when anything was
doing he and Jordan would knew It
and he would telegraph It to us."
‘Toil are quoted In the papers ns
Lnxlng Mr. Cheatham on one occnalon
with being a hypocrite, la that true?" |
was asked.
'"That Is true," raid Dr. Crawford.
'That was the time he told me how |
many fanners -,vet» taking the Cot- ,
ton Journal. Mr. Hotse said that he |
and Cheatham had worked all nrgh:
together In preparing n cartoon for the
Cotton Journal. Cheatham and Hotse
GOLF!
Every Requisite for the Game
(Jet in line now! Call or write for free book of
Rules. WE KNOW what you ought to have to start
the gnme.
KING HARDWARE CO.,
F. G. BYRD, Manager,
Sporting Goods Department.
roomed either together or In adjoin- Li,,.. ... ,, ..
Ing roome at the Piedmont Hotel. |(fluids was not an officer of the Cotton
The name of the man who gave out -K.®,
at Information was ..bed | by general resolution of the conven
that information was asked.
"It wss Manager Love of Ihe Pied
mont exchange” said Dr. Crawford,
Fairchild Called.
A. A. Fairchild, publication .mana
ger of the Southern Cotton Assocla-
Whnt are your views as to an of
ficer of the association dealing In cot
ton futures?"
“Officer Should Not Speculate.”
'I do not believe that In the present
tlon, wns railed. He said that he did position of the association nn officer
not know all the stockholders of the .hould trade on the speculative mar-
T!* ie ?"J?. n L "Change, but he old know g,, - ul ,i Mr. Jordan,
that Richard Cheatham had no etock
In It. He waa not an officer of the cot- J J av ® " e * er trad f d on »» ««hange
ton association or the Conor Journal l nnd d ° not know where one le located
but n salaried employee of Mr. Cheat- In Atlanta, except that I hear there Is
ham. Hi- was very frlendlv with Mr. one In the Piedmont."
Cheatham. He knew nothing r of the "Are there not raise reports sent out
O'Grady or Lee transactions. over the exchange wires pretending to
Mr. Fairchild said lie had been a quote you7" asked Mr. Seymour,
stockholder In the exchange since "I have understood so," said Mr. Jor-
nbuit April. He had bought his stock dan.
from Hotse at Ihe organization of the "Do you regard this as on attack on
company. the Southern Cotton Association rath-
Mr. Seymour brought out strongly «r than a desire to purify It?" asked
the furt that Mr. Fairchild was not nn Mr. Seymour.
officer of the association, but merely I 'I do,” said Mr. Jordan. "I credit It
an employee. Mr. Fairchild read a to that class which Is antagonistic to
card which he aald would be hendoil to the association. I have heard that two
the press. It disclaimed any official large exporters have said that they
position In the association. He ten- would spend a million dollars to get rid
dered his resignation subject to the of me as the head of the association
recommendation of the Investigating M»nd would follow this up,by breaking
comml’tee. I up Ihe aasoclatlon. I have given the
At 7 o'clock Ihe committee adjourn- names of these Arms to the committee,
ed for dinner, but I do not care to make them public
NifiWT irseinij 4( It la merely hearsay,
' NIGHT SESSION. _ ^ A discussion of the evils of specula-
The committee met for the third sen- ftlon followed. It threw no light on the
slon at S o'clock Wednesday night, In- Investigation.
tending to conclude Ite work If pessl- Mr. Jordan eald In conclusion that
ble. Committeemen, defendants and h* 16 c ? r *oon to which The Georgian ob-
wltne.se. were tired out from lhefe ed w “ not pr<,porfd or ln,I > lrcd by
strain of more than eight hours' work ’ Cop( „ of Th , Georgian.
du ' ln * da>r - . He wished to show the motive un-
B. C. Bruffey. a reporter for The „ #r| , „ atUckl .. of Th , q^,.
Constitution, was the first witness. He . „ .. . -umber of conlee of
testified aa to the accuracy of an In-1 *'*"•"* , nled B 01 f“ pl * or
tervlew written by him and published The Georgian with the committee,
on July IS In which Mr. Cheatham was Mr. Seypiour asked If nearly every-
quoted as aaylng that he did not know body examined hod not been a bucket
I -hop He asked If Mr. Grave, was
torlral prominence of the . tTOradys. j a tucket shop man, and If not, why this Mr”’Anderson
* ,al * d ,l J at he had ah 9wn tight. Mr. Jordan eald he had heard cbeatham with
>‘ al Colonel Oravee had two brother.- ' 1 ' a,ham ' v,,h
.4 and that Mr. Cheatham had ellmln- j n .| aw w ho ran bucket shops, lie did
ated from an Interview In that paper nilt know whether or not thle wae true,
two words, official capacity. I Mr. Anderson explained the difference
“Gave Me the Impression,” between bucket shops and regular ex-
"Mr. Cheatham denied, conetructlve- changes,
ly.-that he knew O’Orady or Lee. He Cheatham Takes the 8t*nd,
left me so thoroughly under the Im-1 Richard Cheatham took the stand for
preeslon that he did not know them I the first time at 9: SO o’clock. The
that I waa willing to risk the statement statement already given out by him
made." waa confirmed by him. He stated fur-
‘‘E, c '!| ea ' h *"! I 'h*r that rumors that he had been
correc?° n regarding^ h *M^* qr AndereoiKs connected with a bucket shop had been
chantee, A told M^BiSff^ fi^ul»««l. H. eubmltt.d .n ^Bdavlt
K? SJS , h , . a rno , , h hm; f ,^'^ dy * nd H"«t be h e*„ Connectec/wirh^he A^nTt
“My recollection* of my talk with 1[ aI n B|chmt° nX
Mr. Cheatham la that he denied any [J[* rd ‘ff^ firmJXiX
knowledge of o'Qrady and Lee," aald • J*
Mr llruffey. “I do not remember I Ihe Piedmont Hrokerage Coni’
whether I aaked Mr. Jordan if he knew | . c,l L a -hnri rt |n l, hi*
them or what he answered. Yes, It *•“- He was said to be abort In hie
would be possible for me lo .have mis- j . ...... .. ,
taken a statement from Mr. Jordan *nr . H r - Cheatham atatdd that It was true
one from you, hut 1 was talking to Mr.lJJjjH he had handled trades for Mike
Jordan on an entirely different subject JfHrady and one other man. He had
and I do not think aurh a mistake oc- I Pad nolntereet In.either deal. It had
curred. I have been In the game for| not been proven that he bad any per-
thlrty years and I believe that which I ,n **•*?•. transactions,
wrote and which wae not denied for a Tl>* funds of the association could only
week, was correct.” |bc drawn by the treaeurer. - (jgsggMad
Bruffey Insistent. “ r Personal Reston..'
Mr. Cheatham conducted the cross- "I signed those checks as ‘xecreta-
examlnatlon of Mr. Bruffey. He drop- T? ” ‘ he explained, "for the reason
ped It when Bruffey Insisted that Mr.l'h** my account in the Fourth Na-
Cheatham had told him he did not Honal bank Is carried In the name of
know O'Grady. Richard Cheatham, secretary, for per-
B. 8. Preston, of The News, was ex- "onal reasons. It Is my pereonal ac-
_ wl _. . eawnnllnr . n |COUIIt ■lid I haV« had HO fUIld* of the
fmlrC Lw y iZ ft**?? aeeoctotlon to my credit this year.
th* n-nJlv Colonel Peek, of the committee, aald
Cheatham had said »J a ‘ ‘h* OOrady I „ fa|lMl u ’ nder , tIim i Why. m his
5£ ® r -"“ pr,v “‘ e “ nd he W0Uld ""‘personal Imslness, Mr. Cheatham
discuss it. should carry hie account aa
Love Out of Town. I Cheatham, secretary."
Manager Love, of the Piedmont ex- Mr. Cheatham said the account waa
change, was asked for, but was out of (started that way and was never
the city. Manager Cheatham, of H. c ^* n *”*-
I Mr. Seymour read the charges made
Kledenburg A Company, could not be | h „ An< | rrann am j which were pub-
f' ,und I llshed Wednesday.
Harvle Jordan took the stand for the Mr. Anderson asked It Mr. Cheat-
first time. He was asked whether he him had carried on an account with
had mode the statement to The Con- Sledenburg A Co. under the name of
■dilution that he did not know O'Orady "Mike Jones.’’
and I-ee. Mr. Jordan stated that If he | Wouldn’t Answer,
hed talked to any reporter on the sub- Mr , Cheatham refueed to answer the
ect he had denied such acquaintance.
■le had never heard of either O'Orsdy ’It*** 10 "-
or ise. Mr. Anderson asked If the commlt-
Mr. Jordan stated that A. A. Fair- tea would permit Mr. Cheatham to re
fuse to answer proper questions, as he
had persistently refused all day. A
reference to the stenographer's note*
tended to show that the deal which
Mike O'Grady had said was closed thir
ty days ago was tho same deal i<--
ferred to by Mr. Curran as being han
dled as "Mike Jones."
Mr. Cheatham grew heated here nnd
announced that there had been no proof
that ho hnd speculated or acted agitln.-t
the good of the association. He made
no reply to the question regarding
"Mike Jones."
Mr. Cheatham said he had corre
sponded with O/Orody during the cot
ton deals nnfl had kept In touch with!
him.
“Likely to Create Wrong Impreesion.”
Mr. Allison, of the committee, naked
why Mr. Cheatham had Hlffned checks
“*eer«tary M In *uch tranaactionf*. He
wild thin wa* likely to create a wrong
Imprcaalon.
Mr Cheatham refused to admit that
ho had conducted the Mike Jones deal*.
He then utated that he hail dealt f«>.*
O'Grady nt Sledenburg'* and If tho
bookkeeper made a mistake in tho
name he, Cheatham,* was not roHpon-
fdblc.
Jn nn*wer to the specific charges Mr.
Cheatham denied that ho had ho* n
speculating, in placing the order* ho
wa* not epeculatlng.
Mr. Heyinour aeked why Cheatham
hnd aftked for personal check* ; >r Fa- •
gan. Mr. Cheatham wild he had »*ked
for two checks, which he had placed
to hi* personal credit In the bank
Chairman Johntton asked Mr. < , h»at-
ham'n distinction between dealing In
colton In a wire hou«e for O’Orady
and "apeculatlng."
Cheatham Draws Distinction.
Mr. Cheatham replied that there was
a strong distinction. He had acted
merely an an agent tor O’Orady.
In answer to the charge that some
officer of the cotton anHorlatlon had
been a stockholder In the Piedmont
Brokerage Company, It wa* shown that'
lid not charge Mr.'
hi*, but A. A. Fair-
child, manager of the publication de
partment.
Mr. Anderson aald he understood that
Mr. ('hcatham admitted the charges of
the O'Grady an«l Lee tranHactlon*.
“You g»*ntl» in»-n >>t tlu* t ommlttee are
Investigating the action of your official,
your employes,” he *a!d. “I think It
would be proper for you to demand
that Mr. Cheatham give you an order
on the Fourth National Hank to ren
der you all Information regarding hla
accounts with that bank. The can
celled check* are here In Mr. cheat-'
hum’* posseeHlon and wtU be corrobor
ative evidence. I submit that it Is
proper nnd buslnene-llke that you de- ;
produce these*
mand that
thing*.
“Cheatham the Brains <
“Mr. Cheatham waa
those cotton trades and
suade himself, but he cn
other* that till* was no'
Mr. Cheatham sold th
speculating because he t
any profit from the trai
admitted hi* signature of the check*
and Mr. Andereon did m»t Insist that
he produce the check stubs.
Mr. Cheatham said he had remitted
Mr. O'Orady $2,000. He owed Mr.
O'Grady $200 or $250. There was a
difference betweer
K roduce evidence I
e had made reml
“The difference between the $4.000 I
recalved from O’Grady, that returned
and that I owe him lies In Home other
trao*actlon*." -aid Mr. Cheatham.
Didn't Keep O’Grady's Letters.
I did not consider O’Grady’* let
ter* to me as busine** letter* and 1 did
T rads.**
ruin* of
my per-
l»er«uade
illation.’’,
was not
t exi>ect
thut
not keep them
a question.
I. M. Moore
advertising ho
tlon. Mr. ch
and U wai *hu
lte«l Oflfadj i
ured a Ian
from him M
tiId. In
ton If h»
•d lu