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HOME EDITION
VOLUME XIX. No. 109.
The Mails Make Us All Neighbors
Bring us all within speaking distance. You can shop as easily at this store by mail as by
person, because our mail order department is in the hands of intelligent and efficient persons.
WE PREPAY TRANPORTATION
# •
By Parcels Post , Express or Freight on qoods bought of us and consigned to points
within 200 miles of Augusta. , This is another great convenience in favor of our out-of
town friends and customers, placing them in the same position with those living in the city.
We call your attention to our De
partment Managers 9 Sale advertise
ment in this section. It is full of
news for you
Senator Hoke Smith Flays
New York Cotton Exchange
Senator Smith, in a Recent Speech in the Senate on the
New York Cotton Exchange Declared:
x “The plan of the bill is to re-
all exchanges engag
ing in tile sale of cotton for
future delivery to so shape
their contracts as to remove
the present unfair means by
which sellers of cotton on these
exchanges depress the price of
cotton and use the exchange for
gambling purposes.
‘This bill is especially directed
at the New York Coton Ex
change. For years the cotton
planters of the South, the men
who on the farm have raised the
lint cotton, have protested that
the market prices of cotton which
their labor brought into com
merce were trifled with and de
pressed by a set of galmblers
who manipulated the price of cot
ton on the New York Exchange
in a manner that affected the
price of lint cotton itself.”
Continuing further Senator Smith
said:
"I charge that the New York Cotton
Exxchange handles its business under
a system which is unfair and disrepu
table. The system pwrmits the ma
nipulation of prices for gambling pur
poses, and it is continuously used to
raise or lower the market prices of
lint cotton to meet the wishes of the
manipulators. This Is unjust to the
producer of cotton and to the manu
facturer and is an unfair stab at the
interests of our entire country.
"Mv charge is that, instead of being
a legitimate exchange furnishing an
opportunity for those who have cot
ton now or will have it in the future
to trade with those who need it now
or will need it in the future, the New
York Cotton Exchange has devised a
scheme by which the seller can so
tender to a purchaser cotton that the
purchaser can not take; or if he does
take it, he receives something he did
not buy, worth much less than the
legitimate market price of the cotton
which he was supposed to buy.
“My charge is that the New York
Cotton Exchange contract, with the
rules and regulations surrounding it,
creates a system of doing business
which amounts to little less than
gambling and enables the inside
crowd to play with the outside crowd,
the inside crowd holding and seeing
all, the cards, with every opportunity
to fleece their outside customers.
“I wish to point out some features
of their contract and mode of busi
ness—at. least sufficient to justify my
charge.
“First: ' Number of grades. The
New York Cotton Exchange uses un
der its svstem a large number of
grades of cotton. While middling is
the basier grade of all sales, they re
tain the right to the seller to deliver
anv one of the grades named in their
list, and their list covers 22 grades of
cotton besides middling. A purchaser
may buy 100 bales of middling cotton.
He may have use for 100 bales of
middling cotton in his own mill, or
he may have a customer who desires
the coiton and will use at at his mill.
When the purchaser, through the
New- York Cotton Exchange, feceives
the cotton, although he bought mid
dling cotton, he may have delivered
to him cotton so far below middling
that if is entirely useless for the pur
pose intended. Not alone is this
THE AUGUSTA HERALD
true, but he ma> he tendered mixed
lot of cotton, with oniy few bales each
grade scattered over the entire list
of 23 grades, requiring him if he takes
it, to hunt purchasers for each one ot
the various grades, none of which may
be the grade he actually purchased.
Again, these various grades of cot
ton may he scattered all through the
warehouse, not classified, so that the
purchaser can go to the warehouse,
and if he obtains what is tendered to
him. he must have large quantities ot
cotton handled and hunt through lot
after lot for his particular grades.
“They have also a system of ten
dering the cotton which they call pro
forma. It consists of tendering cot
ton through an invoice which does
not specify the exact grade of the cot
ton, and which leaves the party ten
dering the cotton additional time to
designate the exact grades of cotton
to be actually delivered. The pur
chaser puts up his money and must
wait to find out what he is to receive.
When he finally receives a list of the
grades, he then must go through the
process I have just described of ob
taining it, and if he finds that he can
not handle the cotton outside of the
New York Cotton Exchange on ac
count of its bad character and under
takes to resell it through the ex
change, although it has been examin
ed and certified by the exchange to
him, he must have it reclassified and
certified and pay Tor this work. With
all these hindrances thrown around
him he naturally throws up his hands
and says: ‘Keep your cotton and se'-
tle with me as you please.”
“Second. Arbitrary differences:
The mode of delivery before describ
ed is bad enough, but far worse is tlje
system pursued by the New York Cot
ton Exchange of fixing an arbitrary
difference of value between the mid
dling cotton which the purchaser un
dertook to buy and the 22 other
grades, either one or many of which
may be delivered to the purchaser.
By this I mean that a purchaser may
buy on the New York Cotton Ex
change middling coton, and that when
he calls for his cotton the seller can
deliver to him any one of the 13
grades less valuable than middling or
any one of the nine grades of cotton
more valuable than middling. If one
of the thirteen grades less valuable
than middling, or If a mixed lot Is ten
dered, the seller does not pay to the
purchaser the actual difference In
market value of the lower grades
which he tenders and middling cotton.
He Is required by the rules of the
New York Cotton Exchange simply to
tender an arbitrary difference which
the exchange itself has fixed and
which it has been in the habit of fix
ing only once a year.
“Good, ordinary cotton is a grade
below middling. The difference in its
value and the galue of middling
cotton varies every year, based upon
the character of the crop, the amount
of the good ordinary jroduced, and
the demand for it. The market dif
ference In value might he $8 a bale,
and yet if the exchange fixed a dif
ference at $3 a bale the purchaser of
middling cotton would tie forced to
take good ordinary and receive only
$3 a bale bonus for taking a cotton
worth $8 a bale less than the cotton
which he purchased. The purchaser
would, therefore, be receiving in cot
ton and money |5 less a bale than the
middling cotton which he bought was
worth. This would be a cent 3 pound
less than his middling cotton on the
spot markets was worth. It will
readily be seen that the inside sellers,
realizing that they could settle for
THE ONE PAPER IN MOST HOMES—THE ONLY PAPER IN MANY HOMES
AUGUSTA. GEORGIA. SUNDAY MORNING, APRIL 19. 1914.
Weather Partly Cloinly
' 11 WBAH. 11 « " " >
THE MEN WHO ARE MAKING THE PANAMA - PACIFIC EXPOSITION.
While, the beautiful Panama-Paeific exposition buildings are rising swiftly by the Golden Gate, a vast army Is at work preparing to enter
tain the world in San Francisco next year. The generals of this army are specialists in different fields of exposition directing.
From left to fiKht the men pictured are Colvin B. Brown, chief of the department of 1/omeHtlc hxploitatiori; dr. Frederick J. V. Skiff,
director in-chief- Theodore Hardee, secretary of the Foreign Commission and chief of the Departrnent of Liberal Arts; Captain Asher Carter Baker.
I T S. N., retired, Director of Exhibits; 1-Yank Burt, Director of the revision of Concessions, and (above) Charles Cudwell Moore, president of the
1J ' * The California host building is also shown. Here the woman’s' hoard of (he exposition will exhibit (lie hospitality of the state. The loca
tion is the site of old Harbor View Park, a landmark of early Kan Francisco, with a splendid view of the Imy. Nearby Is the Palace of Fine Art
and to the east the beautiful Esplanade of the Mariana.
middling cotton under the system of
the exchange at $3 less a hale than
its market price, could hear on the
market the sales of middling cotton
down 1 cent a pound.
“I will mention yet another element,
that furnishes opportunity under the
New York Cotton Exchange system
to manipulate and hear the market
by freeing the seller from having to
deliver a genuine quality of cotton.
All middling cotton it not exactly the
same cotton All the lower grades
of cotton below middling are not oT
exactly the same value. Cotton Is
graded largely according to color and
cleanliness. Under the system used
In the New York Cotton Exchange a
large lot of cotton can be purchased,
and then the best o fthe various
grades can he picked out and sold to
manufacturers, while the poorest are
retained and kept In New York to be
tendered to purchasers There Is a
difference in the length of the staple
of cotton of the same grade. And
there is a difference In the character
of the colon of the'same grade. A sys
tematic effort to select cotton of short
staple and poor character, though fall
ing within the grades named, make it
possible for those dealing upon the
New York Cotton Exchange to retain
a lot of junk, commonly called dog
tail and supplied with this Inferior
oualltv of the grades to he tendered,
furnish not only a low grade with an
Panama-Pacific Exposition Buildings
arbitrary difference bertween this and
the grade sold, but also a poor class
of the lower grade far below the aver
age run of the grade. ThiH means
also has been resorted to on the New
York Cotton Exchange, and low-char
,cter low-grade cotton has been accu
mulated from year to year to be ten
dered to purchasers as an additional
means of depreciating the character
of the tender made by the seller when
the purchaser calls for his cotton, and
In tills way force down the price of
cotton sold by the farmer.
“As low as has been the standard
of character of cotton used by the
ew York Cotton Exchange, I see by
the papers of last Saturday that a big
cotton house, the biggest perhaps in
the United States. Which is supposed
to he heavily short on the New York
Cotton Exchange, has been endeavor
ing to force the exchange to accept
and certify a large amount of addi
tional very iow-character cotton
heretofore rejected by the exchange.
I do not believe the officers of the
cottn exchange will dare to yield to
this demand. If they do the law
should iie used to strike both the cot
ton -house and the exchange The
difficulty, however. Is that one small,
ordinary dealer can not carry the bur
den. It requires an organization of
manufacturers and cotton men to
meet the situation.
“I have certainly pointed out a suf
ficient number of linos of conduct
pursued on the New York Cotton Ex
change to show that the system is
unfair, it not disreputable. Its unfair
means of delivery gives sellers upon
the exchange the opportunity to forco
down the prices bid for cotton on the
exchange almost at their pleasure, for
the sellers well know that buyers can
not afford to take under their sys
tem what they offer. The immense
quantity of their sales, with the-r fa
cility for advertising their selling
prices all over the country, tend to
force actual prices down and thereby
injure the men who rolse lint cotton.
The prices are made fictitiously to
rise and fall, thereby Injuring all who
handle cotton, the manufacturer as
well as the cotton grower.
“The time has come when this in
stitution as now conducted should be
suppressed, unless it can he forced to
adopt honest methods It Is no more
entitled to the use of mails and the
telegraph lines under Its business as
now conducted than was the lottery,
the exclusion of the business of
which from the malls was sustained
by the supreme court of the United
States.
“It is the organized enemy of the
cotton growers and cotton manufac
$6.00 PER YEAR—S CENTS PER COPY.
Double Surety Coupons given
before noon mean 5 cents saved
on each dollar you spend. Ask
for them
turers, manipulating prices of the
raw materials which the one manufac
tures and which the other grows.”
Golf Season at Palmetto
Links, Aiken, to Close
Aiken, 8. C. —Sunday will mark the
close of the season of golf playing at
the Palmetto links for the manager,
Mr. James Mackerel will leave that
day. He says that the people have
taken more interest In the game this
year than before and that there have
been many more players. He and
Mrs. Mackerel will leave Sunday for
New York.
Quite a few have left for their homes
this past week, among them being C.
W. Dolan and family, Gifford Cochran
and Tamlly, Mr. Blair and family, Mrs.
Fay Engle, Mr and Mrs. John Mc-
Gee, Mr. and Mrs. Oliver Perrin and
Mr. Douglas.
Mr. Walter Phelps entertained a
number of ills friends at a birthday
party at Robinson's Pond, about three
miles from the city, last Monday
evening.
fIQME ETOfl
CASES ASSIGNED
SUPERIOR COURT
Large Number of Civil Case.'}
Will Be Tried During the
Week Beginning April 27th.
The following is a list of the cases
assigned for trial in the superior
court beginning Monday, April 27th:
Hhepard Supply <‘o vs. Geo. A.
Goodrich el al.
Temperance Beverage Co. vs. Saiu
llaron and Jake Hchrameck.
Riverside Mills vs Georgia Ft. R. A
Banking Co.
Minnie Lee yVodward vs. Augusta- 1
Aiken Railway A- Electric Corp.
Postal Telegraph A Cable Co. vt
Georgia Railroad A- Banking Com
pany anil Louisville A Nashville K. K.
Co. el al. vs. Postal Telegraph Cable
Co. consolidated.
ueo. Ilanvey vs Georgia Life Insur
ance Co.
Solomon Steinberg vs. J. Goldberg &
Hon.
L. A Ashley vs. David Eubanks.
Robert Townsley vs. llattie Bell
Townsley,
Clara B. Mixon vs. Michael H. Mix
on
Georgia A Florida Railway vs.
Smith Bros.
E. 11. Wolfe vs. Augusta-Aiken
Aiken Railway A Electric Corp.
W. 11. and ora Gilbert vs. A. C. Me-
Karlin.
Randolph Daley vs R. T. Ulm.
W. H. Buford vs J. J. Zachry.
Northwestern Lithograph Co. vs.
Aqua Dlstllliig A Bottling Co.
Continental Trust Co. vs. Altantlc
States Life Ins. Co.
A H. Putts vs. Augtista-Alken Rail
way A Electric Corp.
Northwestern Finance Co. va. O. W.
Akins.
Frank J. Iluffley by next friend, vs.
Georgia Cotton Oil Co.
It. J. Horne Co. va tVoodlawn Meth
odist church.
J, M. Crawford vs. Alma R. and J. C.
(‘umpbell.
The li. M. Justice Co. (I nr.) vs. S.
Lichtenstein, Dcf. ami J. Edslsteln,
claimant.
Frank L. Malone vs. W. K. Mflter
Ralph O. Cochran Co. vs. W. K.
Miller,
Annie E. Rocsel va. F. O. Roesel.
Gary Hall va. C. A W. O. Ry. Co.
C. M. Harris vs, E. It Hill.
American Bank A Trust Co. vs. H.
William Hlmw
Mrs. Ann Bowen vs. Cherokee Lifo
Inst Co.
Julia B. Tutt, administrator vs.
Lucllu Willis.
Margaret Lee vs. American National
Insturance Co.
A. A, Powell and F. C. Cllgtt vs.
Amelia Cook Fowler.
Tims. F. Cartiedge vs Salile J. Cart
ledge.
Frederick Scott vs. C.eo, W Walker.
W. I). Kitchens vs. C. A W. C. Hy.
Co.
Simmons Hardware Co. va. Fred E.
Williams.
Gustave Hpeth vs. T. P. Beall.
Wilke Coleman vs. City Council of
Augusta and Augusta-Alken Ry. A
Electric Corp,
James L. Fleming vs. John Church
Co.
J. Somers tk Co. vs. R. A. Somers
A Co
F. C. Wiliamson vs. J. D. Ray.
Return of possessionlng of J. W.
Chance Protest by H. M. Cossets,
Jos. Rosenheim Shoe Co. vs M.
Grossman.
Jos Rosenheim Shoe Co. va M.
Grossman.
Jos, Rosenheim Shoe Co. vs. M.
Grossman.
A. B. Prontaunt vs. Camille Hester
Prontaunt.
Paul Ileyman vs. Isidore Golden.
Martin A Garrett, agent of M. J.
Norris vs. Levy A Chapman.