Newspaper Page Text
®be Sournal
VOL. XXIII. NO. 147.
COTTON ADVANCES SMASH ALL RECORDS OF SEASON
0. S, MUST LEMIN
AniTUDE OF S. I
TOWARDS LEAGUE
Absence of Some Countries
From Session Discussed,
Some Expected to Stay,
Others Likely to Withdraw
BY DAVID lAWBEXCI
(Leased Wire Service to The Journal.)
(Copyright, 1921.)
WASHINGTON, Sept. 7.—lrrespec
tive of whether the absence of sever
al Latin-American states from the
meeting- of the assembly of the
League of Nations at Geneva, Switz
erland. this week was a concerted
move, rhe incident has served to ac
centuate the fact that the United
States government must sooner or
later make plain to Its neighbors be
low the Rio Grande whether Wash
ington looks with active disfavor or
passive favor on the continued par
ticipation in the league of the other
republics of the Americas.
The Central and South American
countries joined the league on the ex
pectation that the United States
would, of course, be a member. They
now find the Washington government
not only absolutely divorced from the
league but say through its official
spokesman, Ambassador George Har
vey, that the United States will not
deal directly or indirectly with the
league. To those nations of Central
and South America which imagine
that they must follow the United
States on European policy, this is a
plain hint to abstain.
As for other nations like Brazil
and Chile, which have followed a 1
more or less independent foreign poli- '■
cy. it will take something more than i
a vague hint to bring about their
withdrawal from the league. Brazil, <
for example, is a member of the 1
council of the league and by the :
unanimous consent runle can block i
any procedure inimical to this hem- 1
I ’sphere. Indeed, some observers have
I suspected that the Harding admin
-1 istration might not be averse to the
P presence of Brazil in the council, be-
I cause that country is the closest
' friend the United States has on this
hemisphere, and the intimacy be
tween Rio de Janeiro and Washing
ton is such that the United States
would never suffer by reason of Bra
zil’s membership in the league.
There is another, and perhaps more
Vital aspect to the whole business of
Latin-American membership in the
League of Nations, which means
sooner or later considerable embar
rassment for the United States.
Latin-American countries are by no
means a unit as to what is the best
policy for them to pursue toward
Europe. The MOnroe doctrine, which
was originally announced as a means
of protecting small states in this
hemisphere from European aggres
sion, has been variously interpreted
by Democratic and Republican ad
ministration in Washington all the
way from absolute non-interference
In the domestic affairs of neighbor
ing countries to the wielding of the
big stick and the sending of armed
forces of the United States for police
purposes. This uncertainly of inter
pretation has been the single thorn
in the side of better relations be
tween Latin-America ana the Unit
ed States and just when it appeared
that the United States was erasing
previous impressions of alleged im
perialism, the Republican party ab
solutely refused to allow the Mon
roe doctrine to be included within
the scope of the League of Nations.
To Latin-America this meant a con
firmation of its fear that the United
States wanted to be free at any time
to wield the big stick. To the Re
publicans it meant simply a free
hand in this hemisphere and non
interference by Eurone in our central
and south American affairs.
But even with the United States
outside of the League of Nations, the
opportunity still remains for any
Latin-American state to appeal to the
league as against the United States
and invoke for instance, the jurisdic
tions! the world court. This would,
of course, be irritating to the Unit
ed States and would complicate mat
ters very much. The Harding ad
ministration had not been in power
twenty-four hours whene Panama and
Costa Rica were talking of submit
ting their dispute to the League of
Nations and it is a fact that Secre-.
tary Hughes acted promptly so as to
warn the league it had better keep
bands off.
Although there is every profession
of respect toward the league as ar.
international body, the attitude of
the United States must eventually be
defined as one of active hostility or
passive indifference. The latter has
been the apparent attitude until the
news came that Latin-American
states were ignoring the meeting of
the assembly of the league. It is
denied here that the United States
coerced any Latin-American mem
bers either directly or indirectly to
abstain from participation in the
league. But one thing is certain,
however, while the diplomacy ot
Washington will have to keep busy
preventing Latin-American states from
drawing too close to Europe through
the league, these same Latin-Ameri
€2 3 states, in the Judgment of diplo
mats here, would be foolish to with
draw from an organization which af
fords the only refuge from the ef
fects of an extreme interpretation oi
the Monroe doctrine. Some Latin
states may pull out of the league bu
it is doubtful if Chile and Brazil or
Peru will do likewise.
Five of Indicted
Fitzgerald Officials
Make SSOO Bonds
FITZGERALD, Ga„ Sept. 7.—Of
the nineteen defendants indicted yes
terday by a special grand jury on
charge of “intimidating labor” in
connection with the A., B. & A. strike
troubles, five had been arrested up to
date and released on SSOO bonds each.
They are J. L. Pittman, mayor of the
city; Frank Waters, J. W. Hornsby,
O. C. Fairfield and B. W. Mayo.
The grand jury, which investigated
the trouble, was discharged last night
and the regular grand jury was in
session today. It is understood that
no A., B. & A. strike cases are to
come before it.
One of the striking conductors re
ported to authorities today that some
one from a shop train fired into the
picket* line this morning. The bullet
passed through the hat of one of the
pickets.
BRITISH CABINET
MOVES REPLT
TO M'S NOTE
Reply Is to Robert
C. Barton, Sinn Feinn
Courier, Who Takes It to
Dublin
INVERNESS, Scotland, Sept. 7.
(By the Associated Press.) —The
British cabinet at its meeting here
today unanimously approved the re
ply of the government to the last
note from Eamonn de Valera, the
Irish Republican leader. The reply
was handed to Robert C. Barton, the
Sinn Fein courier, who started for
Dublin, at 4 o’clock this afternoon
with it.
Prime Minister Lloyd George sent
a courier to Moy Hall, near here,
Where King George is staying, to
acquaint the king with the cabinet’s
decision, which will be made public
Thursday night.
A committee oi* the cabinet, with
full powers to deal with Mr. De
Valera’s answer to the communica
tion sent this afternoon, and with
the Irish situation generally, was ap
pointed. Another committee was ap
pointed to deal with unemployment.
It was said prior to the decision
leached that the ministers were not
at all in agreement as to the best
method of procedure to be adopted,
some favoring further exchange of
notes with the Irish Sinn Fein. Others
were said to be proposing that a vir
tual ultimatum be sent Eanion De-
Valera, giving him and his colleagues
a fixed time in which to accept or
reject the British offer of dominion
status for Ireland.
Mr. De Valera had apparently serv
ed notice in a statement issued to the
press in Dublin yesterday that such
an ultimatum would be tantamount to
a denunciation of the truce which
has been in force in Ireland for the
last two months. He stated that an
ultimatum would be “the imposition
of force, and w-ould meai! war, not
peace.” This statement did not tend
to make easier the task of the min
isters who arrived here today from
London, but Prime Minister Lloyd
George was represented as being op
posed to breaking off negotiations
with the Sinn Fein.
King George is staying at Moy
Hall, near here, and his presence in
the immediate neighborhood is looked
upon as most opportune, as he has in
the past few months played a partic
ularly influential role in the work of I
handling the Irish question. Mr. I
Lloyd George and the king have been '
in close touch during the Irish ne
gotiations, \nd it was reported the 1
prime minister would confer with the 1
sovereign today, possibly before a,
note to the Irish republicans was fi- ■
nally drafted. I
Episcopal Bishop Says
Eighteenth Amendment
Is “Unpardonable”
SALT LAKE CITY, Utah, Sept. 7
To me the writing into our consti
tution of the eighteenth amendment
was unpardonable," said the Rt. Rev.
Thomas F. Gailor, Episcopal bisnop
of Tennessee, on the eve of the
fourth synod of the province of the
Pacific of the. Episcopal church,
which opened today.
“I take no part in politics; I am
neither Republican nor Democrat in
such questions,” declared Bishop
Gailor, but politicians of both parties'
have played politics with the .good
name and the conscience of this coun-l
try. Whatever in the League of Na
tions was repugnant could have been
written out, but to refuse to coun
tenance any measure for universal
peace was nothing but a denial of
every principle for which this coun
try went to war.
“As to prohibition, that is a deli
cate question, but I have always as
serted my belief and have never I
evaded a question. The saloons were!
going; the church was making head
way against what evil there was in
liquor. To my mind it was nothing
short of hysteria that put over a
restriction which could not hope to
suppress that evil."
Gas Bomb Thrown
By * Four Bandits
In Train Hold-up
TEXARKANA, Ark., Sept. 7.
I our gas bomb bandits were being
hunted today following their hold-up
of a Kansas City Southern passen
ger train.
The bandits, halting the train be
ttween Texarkana and Bloomsburg,
threw a small gas bomb into the
mail car when the clerks refused to
unbar the door at their command.
The fumes forced the clerks to
obey. The bandits then looted the
mail car. Postoffice officials said
they could not estimate the amount
of loot taken.
The bandits forced the engineer to
halt the train at a bridge over the
Sulphur river. F. Woodson, the en
gineer, was severely beaten and a
porter, E. Moss, was shot in both
legs for resisting the robbers.
After gas bombing the mail clerks,
the bandits ordered the fireman to
drive the engine hauling only the
mail car—the remainder of the train
having been uncoupled—into the out
skirts of Texarkana, while they loot
ed the mail. In the outskirts of the
the city they dropped off the train
and disappeared in the darkness.
BUSINESS TAKES ON NEW
LIFE AFTER THE HOLIDAYS
BY JAMES ALLERTON
(Leased Wire Service to The Journal.)
(Copyright, 1921.)
NEW YORK, Sept. 7.—Business is
being resumed after the holiday with
renewed activity in nearly every line
of industry in this section. Many
manufacturing plants which had been
holding off during the holiday, put
•on additional workers today, and a
number of plants which had been
closed resumed operations.
Buying of textiles went forward
again as the manufacturers of cotton
goods, many of whom had withdrawn
their products from the market after
the sensational rise in raw cotton,
had opportunity over the week-end to
revise prices. The increases probably
will not check buying as the majority
of retailers have by no means se
cured the amount of goods they will
require for this coming season.
TWIN CITIES REPORT
IMRPOVEI) CONDITIONS
BY li. S. McKENNA
(Leased Wire Service to The Journal.)
(Copyright, 1921.)
ST. PAUL, Sept. 7.—Statistics col
lected by executives in charge of ;
sales of more than forty food prod- ■
ucts more than doubled the sales of ,
July. Further proof of improvement :
in trade conditions here is found in ;
a statement today by C. F. Trettin,
secretary of • the retail grocers, ■ ,
which asserts that the grocers now t
TREMENDOUS REDUCTIONS!
This is the most important subscription announcement ever published by any newspaper in the
United States. It tells of GREATER REDUCTIONS, GREATER SAVINGS, GREATER BARGAINS
than any newspaper has ever offered, anywhere, any time.
OLD PRICES SHATTERED!
The old price of The Tri-Weekly Journal—the best paper in its field in America—was $1.50 a year.
Lower costs of production and the approach of good times guaranteed by the soaring price of cotton,
have led us to the decision of disregarding all previous scales and standards in benefiting our friends
.md readers.
COMPARE THESE MARVELOUSLY LOW PRICES!
Following is the most wonderful schedule of CLUB and PREMIUM OFFERS ever printed. Com
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The Southern Ruralist Each $2.50 SI.OO
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Commercial Appeal Year J?™
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* And any of the following well-known newspapers and magazines—all recognized as leaders in their
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OFFER NO. 12-A
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OFFERS ARE LIMITED COUPON—CIip and Mail NOW!
Os course, each and every one of The Atlanta Tri-Weekly Journal,
the above remarkable offers are sub- Atlanta, Ga., Gentlemen:
ject to withdrawal at any time, with- Enclosed please find $ Send me your
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ATLANTA, GA., THURSDAY, SEPTEMBER 8, 1921.
have passed through their trying
period and are on a normal basis.
Other lines of trade also are show
ing improvement.
Manufacturers of confectionery in
the Twin citiea report a big increase
in business. 'The improvement has
been great enough to warrant a big
increase in employes. Dealers in
clothing and men’s furnishings re
port a decided betterment in the
volume of business not Only for im
mediately but for future delivery.
Millinery is moving in larger vol
ume. although at cheaper prices, and
general merchandise, drugs and dry
goods dealers report a satisfactory
volume of business. The markets for
building material and automobile
accessories continue active.
HANDICAPS TO BUSINESS
DISAPPEARING IN PITTSBURG
BY H. B. IiAUBMAN
(Leased Wire Service to The Journal.)
(Copyright, 1921.)
PITTSBURG, Sept. 7.—Progress is
being made in the elimination of
handicaps to business in this section.
Each day sees some obstacle removed
and while improvement in the major
industries is slow, it cannot be mis
taken. The plasterers’ union has
signed a contract with employers on
a scale of $9.20 a day for unfinished
work and $9 for new work, and the
painters are working under a tenta
tive agreement. Contractors and
CARTOONETTES
LINE !
building trades unions have been at
loggerheads since last spring on the
open shop. It is possible the sign
ing of the plasterers scale may be
the opening wedge for a general set
tlement. There is over $20,000,000
ready for investment in large build
ings here, and a high total will be
put into dwellings when the labor
situation clears. It is believed new
scales will be agreed upon in the
glass industry without trouble.
HEAVY PfIOFII-TIB
CAUSES BIG BREAK
J 5 MARKET CLOSES
The most sensational advance of cotton during the present move
ment, and one of the most sensational in the history of the market,
was scored on the New York and New Orleans exchanges at the
opening Wednesday morning, when distant deliveries passed 22 cents,
the net gains over the previous closing being from $7 to $9.25 per
bale in New York and the limit of $lO per bale in New Orleans. The
latter exchange showed the most remarkable exhibition of strength
ever made by cotton, when every active option was bid to the limit on s
the opening quotation.
i BUSINESS BETTEB
I JS COTTON BISES,
M'WEMES
I A very hopeful view of business
I conditions in the south was expressed
I Tuesday by Joseph A. McCord, chair-
I man of the board of the Atlanta Fed-
I eral Reserve bank, in an interview
I given The Journal.
Already an improvement in condi-
I tions is very noticeable as a conse-
I quence of the recent improvement in
the price of cotton, it was pointed
out by Chairman McCord, and it was,
his opinion that the general situation
would continue to improve.
"The increased price of cotton will
benefit the farmer, the merchant and
the interior banker,” said Chairman
McCord.
“I have no doubt that it will stim
ulate trade by furnishing a market
for goods which the farmers of the
south, our largest southern class of
1 consumers, have not been able to buy
on account of the depression of the
past year and the low price of their
staple.
"We must have a market for textile
products in order that the manufac-
I turer can with safety buy the incom-
I ing crop. We now see signs «>f a
I marked improvement in the demand
textile products, which in turn
creates a demand for raw cotton.
There is evidence that the manufac-
I turers of cotton are keen to buy. Un
| questionably their stocks are very
I much depleted, and the stocks of cot-
I ton goods are likewise at low ebb,
I both in the hands of the jobbers and
the retailers.
“The boll weevil this year has
I made the greatest ravages on record.
| Georgia’s cotton crop, according to
. the best information obtainable, is
/ not likely to exceed 800,000 bales, as
compared with an average normal
crop of 2,250,000 bales. The crop will
be short throughout the belt.
“What might have been a serious
raw cotton famine will be prevented
by the carry-over of last year’s crop,
a considerable part of which is still
in the hands of the producers.
"Cotton has not occupied the com-
I mercial position to which it was en
titled, for a number of reasons among
which I will mention two of the most
important. First, because it has been
produced largely by tenant farmers.
Second, because it has not received
the support it deserved from New
England. The first of these condi
tions is being substantially improved.
The second ought to be and can be '
if New England manufacturers will
realize that they can make a profit
on cotton for which they pay the ;
farmers a profitable price, and that
New England manufactured products '
of all kinds cart be sold in greater
volume at better prices to a pros- i
perous south. I r
“The federal reserve board in
Washington and the war finance cor
poration are doing what fffey can to
place cotton in its rightful position
by bringing about orderly marketing
of the crop.
“Ample financial resources are
available to assist the producers in
obtaining the full benefits of the law
of supply and demand, as it operates
upon the price of cotton, but these
rtsources cannot be used for specula
tive purposes and the crop and the
carry-over must be marketed grad
ually and in an orderly manner.”
Amusement Park
At Atlantic City
Is Swept by Fire
I ATLANTIC CITY. N. J., Sept. 7.
Fire today swept Rendezvous park,
one of the amusement places of At
lantic City. The loss was estimated
at $150,000.
WISCONSIN TOWN IS
DESTROYED BY FLAMES
RHINELANDER, Wis., Sept. 7.
Fire today swept the town of Jef
fries, twelve miles from here, caus
ing damage estimated at nearly sl,-
000,000. The fire was still raging
beyond control early today.
Hope of saving the town with its
large lumber and paper mills was
abandoned. The country for miles
around was clouded with smoke. Pil
lars of flames were visible in Rhine
lander, even in daylight.
Fire fighting apparatus was rush
led from Merrill, Rhinelander, and
■ other surrounding towns.
Germans Have Paid
First Reparations
| PARIS, Sept. 7.—The reparation
; commission has issued the following
| official communication regarding
[ payments by Germany to the allies:
“On May 31, Germany had paid the
reparations commission 160,400,000 '
gold marks and had supplied drafts '
at three months on the German '
treasury for the remainder of the
1,000,000,000 gold marks. The rep- 1
arations commission has now re
ceived in approved foreign currency
from the German government 770,-
000,006 gold marks in redemption of
these drafts. Moreover, the German
government has shipped gold to New 1
York to make up the balance of the 1
1,000,000,000. c
“Subject to final adjustment ot' i
accounts, the payment due under ar- f
tide five of the schedule of pay- ]
ments has been effected.” i
Scents a copy,
?1 A YEAR.
October options rose to 21.49 and
May to 22.10, new high levels for
the season and the highest priqes in
nearly a year. At the opening ses
sion last week cotton traded as low
as 15.30, which means that there has
been a rise of 619 points or around
?31 per bale on that month.
The advance in New Orleans was
I in sympathy with one of the widest ,
I bulges ever scored by the Liverpool
I market, spots there having advanced
more than $lB per bale overnight.
Coupled with this bullish influence
1 was the fear of consequences from
1 the short crop being raised by ths
■ south.
While the advance In New York
was not quite equal to that in New
Orleans, first prices showed a gain
over the previous close of from 130
to 172 points, equal to $7 to $9.25 per
bale.
The big bulge was followed by vio-
I lent fluctuations within a range of
150 points, the market manifesting a
strong undertone until late trading,
when heavy profit taking and selling
orders, such as were to be expected
on the heels of a 400-point advance,
caused a break that took all options
down to the Closing figures of Tues
day. New York was 10 to 40 pc&nts
down from the previous close, while
New Orleans Was unchanged from
Tuesday’s closing. In other words,
both markets, after registering new
highs, receded to the limit for the
day.
Atlanta spot cotton was statibharjr"
at 19.25, New York spots were off 85
points at 19.75, but New Orleans
spots, disregarding the future mar
ket, were up 100 points at 20 cents.
The opening -found brokers loaded
down with overnight buying orders,
based partly on Liverpool’s record
advance and disastrous crop condi
tion reports. The drive was met by
heavy realizing by Wall street inter
ests, tfie south and foreign houses,
the selling pressure eventually weak- I
ening prices to net gains of from 70
points to 123 points from the top.
Liverpool was from 176 to 202 points
above partiy.
On the opening quotations, October
was up SB.IO per bale, December up
$7 per bale, January up $7.25 per
bale, March up $8.35 per bale, May
up $9.25 per bale, and July up $8.35
per bale.
Three distant months, March, May
and July, passed 22 cents. March
went as high as 22.12, May, 22.38, and
July, 22.30. Profit-taking broke Octo
ber to 20.78, December to 21.20, Jan
uary to 21.05, March to 21.20, May to
21.20 and July to 22.10, but renewed
bull support forced the market back
up to within a few points of ths
high at net gains over the previous
closing at about $7.50 per bale. At no
time was the market less than 9*>
points above the high figures of
Tuesday
New Orleans was similarly affected
by realizing sales, many longs rusfi-
* mg to take profits on the initial
’ bulge, only to enter the market again
> for another gain.
i On the 11 o’clock call, both New
York and New Orleans were steady
at advances of more than 100 points
over Tuesday’s closing figures. Oc-
1 to be options in New York were 20.98,
December 21.30, January 21.28, March
21.45 and May 21.54, and at 11:30
Atlanta time, the market still was
strong around 11 a. m. bids, some
months showing «h*rht gajns and oth
ers slight recessiontr. this re
spect, the market was similar to
that of Tuesday, which showed a ten
dency to sag around midday, omy
to react violently at the close with
quotations at the top figures for
the day and movement. .
The net gain for the market »lnea
Friday’s closing is 400 points or S2O
per bale, both days seeing contracts
score the maximum of 200 points al
lowed by the rules of the exchange.
After the first few hours trading
on the New Orleans exchange thers
was some reaction and shortly be
fore noon all prices, except October,
which advanced fifteen points, were
off the opening price from seventy
eight to ninety-seven points.
The extraordinary rise in the price
of cotton since last June has added
nearly $1,000,060,000 to the wealth
of the south.
Since June cotton has risen from
eleven and one-fourth cents to twen
ty-two and one-fourth cents a pound,
a gain of $55 a bale in ten weeks. The
market price of cotton gained S3O
a bale during the last week.
There was heavy realizing and li
quidating in New York during the
early afternon, and the market was
weak around 2y o’clock, with prices
125 to 150 points down from the
top, or around 20.70 for December.
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