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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.