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ACCEPTANCES
URGED TO AID
COTTON LOANS
Would Make Country’* Credit
Resources Available to Brow
ers and Lighten Burden on
Southern Banks.
UNIFORM WAREHOUSING
LAWS ARE NECESSARY
(National Bank of Comawm to N*w
York Says Dlacotmt IWiaikat fH
quires Standard Receipt Whioh
Will Protect Loans.
The use of Nmk acceptance* for
financing cotton grower* t* advocated
jby the National Bank of Ootnroerce fn
JNew York as a remedy for the hand
to-mouth crop-lien sysrtn now fn gen
eral use. In It* magaztT**, Oomroerc*
Monthly, the hank point* oat that cot
ton marketing requirements hereto
fore have not shared In the cormtry’*
credit resources he<-anne the cbtlga
jtions of the generality at borrowers In
this field have not been writable for
negotiation In the open market. The
burden of financing ha* heat concen
trated on * limited number of Setith
ern banka Such a s.vw**m be* been
responsible In a large degree for com
jtelllng the dumping of oettoc on the
market almost as rapidty m It could
be picked and ginned.
The hunk points out that a means of
securing a broader distrttmtlon of the
burden has been provided by the Fed
eral reserve system which enables
member banks both to rediscount
loan* and to execute acceptances,
which are particularly writable for
general negotiation. Ti>e success of
this remedy, however, depends largely
on the ability of borrowers tat provide
certain simple require-nxmts of the
discount market. One of the chief re
quirements, the hank declares, is a
uniform standard of quality of ware
house receipts, which will enable
banks throughout the country safely
to undertake tle execution erf aouepr
unces on cotton In storage.
Requisite Condition*.
"There has been a diversity and
Often a laxity In business practices,
as well as an absence of uniformity In
the obligations and responsibilities as
sumed by warehousemen, under vary
ing state warehousing law*, which has
caused banking institutions not di
rectly acquainted with the Individual
warehousing concerns to hesitate to
extend credit on the strength of their
receipts,” the bank declares "On re
ceiving a request for a loan against
cotton the banker’s first concern Is
that there actually Is cotton behind
the warehouse receipt One of the
most serious difficulties which banks,
particularly those which are not In close
local touch with the situation, have
found In the way of loaning more free
ly against cotton receipts is that they
have never been able to ascertain ex
actly what title to the cotton they had.
In general It Is true that the holder of
a receipt is subject to prior Hens, and
uncertainty as to their nature and ex
tent Increases the banker's hesitancy
In accepting receipts a* collateral,
even though In practice the actual
losses from defective title by reason
of such liens have been comparatively
small. The cotton, furthermore,
should be In the hands of a reliable
warehouseman, who should be Inde
pendent of the borrower, so that the
latter cannot, while the receipt is out
•tandlng in the hands of a third party,
obtain CQJdrnl gyfr Ue covered
by 1L
Warehoule Laws Needed.
reasonable method of improving
this situation would seem to be the
application of fairly uniform laws con
cerning cotton warehousing wherever
cotton is stored. Two laws have al
ready been formulated which, were
their provisions uniformly and Jointly
applicable to cotton warehouses,
would go far toward establishing
warehouse receipts on the high level
of the bill of lading. These are the
Uniform Warehouse Receipts Law and
the ‘Federal Warehouse Act adopted
In 1916. The latter provides for Fed
eral supervision and examination of
licensed warehouses which take ad
vantage of its provisions. The Uni
form Warehouse Receipts Act, on the
other hand, is concerned with putting
the receipt Itself Into proper form,
making standard the terms which it
Incorporates and the obligations as
sumed by the warehouseman, and
making standard also the conditions
attending Its transfer or negotiation.
“As regards the Uniform Ware
house Receipts Act, there would seem
to be no valid reason why it* provi
sions should not be Incorporated In
their entirety In the statutes of every
state. The Federal Warehouse Act i*
not compulsory, and warehouses have
been, and probably will continue to be,,
slow to avail themselves of It* provi
sions because of the public supervision
for which It provides. A remedy
might be found either In the estab
lishment of a similar system of public
supervision by the respective states,
or In a provision In state laws that
all public warehouses be required to
obtain federal licenses, the latter
method being decidel.v preferable be
cause of the greater uuiformity it
would insure.”
SETS NEW STANDARDS
FOR SOUTHERN FAIRS
SOUTHEASTERN FAIR, ATLANTA, OCTOBER 16-26, AGAIN
PRESENTING NEW FEATURES AND ASSURED OF
UNPRECEDENTED RESULTS.
With a record for an ascending stand
ard of excellence a* a fair which seem
ed to reach Its high peak last year,
the Southeastern Fair, October 16-26,
presents a program of excl uet-ee fea
tures which has already resulted in
such an increase In the demand tor
space for exhibits, privileges and oo
ceesions by the most prominent eoa
cewsionairee in the United States, that
there Is not the least doubt in Cbe
minds of Secretary R. 14. StripMc and
his executive committee that the 1920
fair will exceed the last fair and will
have no equal as an agricultural and
livestock exposition fn toe Southern
states.
The arrangement with toe promoters
of the National Hog and Cattle Show
to stage this enterprise at the Sooth
eastern Fair resulted fn the greatest
demand for spaoe to the stock bams
that has been experienced stnee the
fair was organized. The establishment
of the International C2ub Shock Judg
ing Con teet started a flood of inqui
ries from all over the (wntineot, as
to the requirements for entering this
contest. The machinery manufactur
ers and dealers having learned of toe
benefits of demonstrating at a great
fair have increased their demands and
the capacity of the big Automotive In
dustries Building wrlll be insufficient
to accommodate all exhibitors if the
number of early Inquiries (or spaoe is
a guide.
The Midway, which onoe seemed
ample to accommodate all the amuse
ments and concessions that would de
mand accommodations for years, is
already outgrown and new space must
be provided to toeet) this popular fea
Ths big Midway run* along the greatest ride In the South —the Roller
Coast or at Lakewood Park, the home of the
Southeastern Fair.
COWS FOR SALE
1 have four or five nice Milch Cows
for sale. Going out of dairy business.
Now is the time to secure a fine milch
cow practically at your own price.
L. W. HODGES
Winder Ga.
Relie! for Torpid Livers
and Habitual Constipation
The liver Is the largest and most im
portnnt organ In the body, and when the j
liver refuses to act, It causes constipa- F “ Mo
tion, biliousness, headaches, indigestion, .
gas. sour stomach, bad breath, dysentery. gj
diarrhoea, rains in back and under shoul- j', 1
tier blades and under ribs on right side. ! ttfllk 1 ITPROa Jij
These symrtoms lead to colds, influenza j r 1 ALl>{JpL/?i Li pi
or other serious troubles unless corrected ! • |,g
immediately. j U/ J { L * •*
An inactive liver places an extra | at Kps. jr|i;
burden on the kidneys, which overtaxes
them and causes the Mood to absorb and j -Tw fmaPvX WYn W. |
carry’ Into the system the impurities that ; J Bl|
the liver and kidneys have failed to elim- i y *Jj
When you treat the liver alone, you ; „ I‘ jjjjji
treat only a third of your trouble, and ( .VRIDiSY- '•* i\‘‘
that is why you have to take purgatives j M
every few nights. Calomel or other or
dinary laxatives do not go far enough. fSRCPARCD BY 1111
If you would treat your kidneys and blood B iirrmrnrY UFhinNF Cft Is viw
while treating the liver, you would put jj IUTvIICOCR MUNUfIL Cv. 1
your entire system in order and frequent |p Atlanta. Ga.
purgatives would then be unnecessary.
Dr. W. L. Hitchcock many years ago
recognized these important facts, and after much study and research, com
pounded what is now known as Dr. Hitchcock’s Liver, Kidney and Blood Pow
ders. three medicines combined in one. This was the Doctor's favorite pre
scription for many years, being used by his patients with marked success. It
is a harmless vegetable remedy that will not make you sick, and you may eat
anything you like while taking it.
Get a large tin box from your druggist or dealer for 25 cents, under his
personal guarantee that it will give relief, tone up the liver, stimulate the
j kidneys to healthy action and thereby purify the blood. Keep it in the home
for ready use whenever any member of the family begins to feel “out of sorts.”
It will prove a household friend and a valuable remedy.
ture proportionate with the expenslon
to other directions. More ground
must be made, so the big steam shovel
will be requisitioned again.
Work has already started on the
rail connection with the city belt line,
so that the Southeastern Fair, which
will have the long desired accommoda
tions for exhibitors, which means so
much In handling the fair successfully.
The Interest to Woman’s work, boys’
and girts’ clntos domestic and fine arts,
is well as toe many lateral educational
feature*, exoeeds all previous expres
sion and k may be said that the origi
nators erf tbe Southeastern Fair will
find every fea*sa*e filling their fondest
anticipations.
Tk> keep the reputation of the fair at
Ms past high level as the greatest an
nual opportwnlty tor real satisfaction of
- desire tor clean entertainment, the
(urmaeirvent features are being shaped
to leave nothing wanting. The Grand
■Circuit raoes win again Include all the
fast equine stars of the United States
and Canada. The Auto racing will
have another day added, featuring the
opening day, October 16th. Auto Polo
.is af' uin assured and tbe usual best
program of fireworks that money can
buy. The big free act program in front
of the grand stand will be filled with
the best and moot novel numbers that
can be secured.
With this splendid promise for a
great fair, we feel sure that every read
er of this paper will begin now to lay
plans for spending at least one day,
where one gets more education for
nothing and the biggest show for the
price of admission that is offered any
where.
. MONDAY
* * *
“A CHORUS GIRL’S ROMANCE”
THE WINTER NEWB
HOG CHEWS TOBACCO
LN FULTON COUNTY
Atlanta, Ga. —Sam Pilgrim, a farm
er boy living in Fulton county, owns
a hog that chews tobacco with ap
parently as much relish as a comfirmed
user of the filthy weed, and Bam ex
plains the curious freak on the ground
tltat the hog learned to like the tobacco
taste by getting hold of snuff in ‘some
condition powders. As the hog weighs
more than 500 pounds at the age of
12 months, its indulgence in tobacco
doesn’t seem to have interfered with
its growth.
QUITE SO
Another thing
You’ll notice
If you'll glance over
The classified column
Of your paper
Is that while every day
People are losing
.Stickpins and stepladders
And watches and wardrobes
And diamonds and dogs
And purses and fountain pens
And Fords and fishing hooks
Et cetera and so forth,
About the only thing
Anybody ever finds
Is a bunch of keys
Or maybe a pocket book
Containing receipts.
—Johnny Spencer.
Mr. Ralph Smith is in Atlanta for
the day.
INVENTIVE GENIUS
ROBS CALOMEL OF
NAUSEA AND DANGER
Doctors’ Favorite Medicine Now
Purified and Refined from All
Objectionable Effects. “Calo
tabs”—the New Name,
What will human ingenuity do next?
Smokeless powder, wireless .telegraphy,
horseless carriages, colorless iodine, taste
less quinine,—now conies nausealess calo
mel. The new improvement called “Calo
tabs” is now on sale at drugstores.
For biliousness, constipation and indi
gestion the new calomel tablet is a prac
tically perfect remedy, as evidenced by
the fact that the manufacturers have au
thorized all druggists to refund the price
if the customer is not “perfectly delighted”
with Calotabs. One tablet at bedtime with
a swallow of water—tlmt’s all. Xo taste,
no nausea, no griping, no salts. By morn
ing your liver is thoroughly cleansed and
you are feeling fine, with a hearty appe
tite. Eat what you please—no danger—go
about your business.
Calotabs are not sold in bulk. Get an
original package, sealed. Price, thirty
five cents. —(adv.)
LET US
Gin Your Cotton
AFTER INSTALLING NEW MACHINERY ALMOST ALL
THE WAY THROUGH WE ARE PREPARED TO GIVE YOU
THE VERY BEST OF
GINNING
IN ADDITION TO OUR NEW MACHINERY WE HAVE
SECURED THE SERVICES OF MR. R. E. SHEPPARD TO
DO YOUR GINNING, ASSISTED BY MR. A. B. HARWELL.
WE ALSO HAVE SOME OTHER GOOD FELLOWS WHO
WILL HELP US GIVE YOU THE VERY BEST ATTENTION
AND SERVICE.
Price 90c per Hundred
Give us a trial
G. W. Summerour
WINDER, : : : : : GEORGIA.
M 5
YOUNG WAR VETERAN HELD IN
CONNECTION WITH ROBBERY
Atlanta, Ga. —Dispatches from Val
dosta Tuesday telling of the arrest in
Homerville, Ga., Monday night of
Rufus Knight with Liberty bonds and
securities, valued at #295,397, In his
possession, led the Atlanta postcffice in
spectors to the belief that Knight is
the principal in the sensational rob
bery of a registered mail pouch from
Southern railway passenger train No.
36, Atlanta to New York, near Corne
lia, Ga., on the morning of September
9th.
Information reached Chief Postoffice
Inspector Charles Riddiford by wire
early Tuesday of the arrest of young
Knight. Inspectors Clyde Fleming and
Robert Barry were on their way to
Homerville immediately, where they
will secure details of Knight’s arrest
from the local authorities and bring
WAGONS BUGGIET HARNESS
I Tires that did not requite setting
lin thirty years-on a Studebaker
VV7TTEELS are the life of a wagon. Hubs, spoke?,
** felloes and tires of the best materials, put to
gether by skilled workmen, go into every Studebaker.
What is tbe result? Mr. William H. Horton, of Nineveh,
N. Y. writes that the tires on hiarfhirty-srx year old Stude
baker farm wagon did not need resetting in thirty years
—and the wagon was in use every day.
We can prove to you that this is not an exceptional
Studebaker wagon. There are thousands of Studebaker
4 wagons in use today that are forty years old and more. _
And that have cost their owners little or nothing for
repairs. ,
Come in and look over our stock of Studebaker vehicles.
I- Let us show you how well they are built.
I Studebaker wagons are sound investments, every time
WOODRUFF HARDWARE CO.
WINDER and STATIIAM, GA.
SUBSCRIPTION: *1.50 A TEAR.
IOWA WOMAN WII L RUN
FIRST TIME FOR'CONGREJ
Des. Moins, la.—Mrs. Mattie 1
Hurl, of Council Bluffs, will be lows
first woman candidate for eongres
She tiled petition today with the sef
‘retary of state and will gun as tu
Independent candidate fropa the nint
cogressional district, although tl
farmer-labor party convention, whic
Mrs. Harl has been attending her
for the past two days, Indorsed be
candidacy.
the prisoner to Atlanta.
Descriptions of tbe securities an
bonds found in Knight’js possessio
at the time of his arrest, while som
what vague, coincided sufficiently wit
the inspector’s record of the bond
stolen from the mail pouch last weel
to convince them that Knight is, a
least, one of the principals in th
robbery. .