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MONDAY, JULY 13 Most Glaring Instance of Mismanage ment in history American Railways (Cont nued from Page 1.) trolleys; the recklessness in the pur chase of Connecticut and Massachus etts trolleys at prices exorbitantly in excess of their market value; the un warranted expenditure of largo amounts in Educating Public Opinion; the disposition, without knowledge of the directors, of hundreds of thous and of dollars for influencing public sentiment; the habitual payment of uniteinized vouchers without any clear specification of details; the confusing inter-relations of the principal com pany and its subsidiaries and conse quent complication of accounts; the practice of financial legerdermain in issuing large blocks of New Haven stock to friendly parties with the de sign of boosting the stock and un loading on the public at the higher ‘market price'; the unlawful diversion of corporate funds to political organi zations; the scattering of retainers to attorneys of five states, who rendered no itemized bills for services and who conducted no litigation to which the railroad was a party; extensive use of a paid lobby in the matters as to which the directors claim to have no information; the attempt to control utterances of the press by subsidizing reporters; payments of money and the profligate issue of free passes to leg islators and their friends; the invest ment of $400,000 in securities of a New England newspaper; the regular em ployment of political bosses in Rhode Island and other states, not for the purpose of having them perform any service but to prevent them, as Mr. Mellen expressed it, from 'becoming active on the other side'; the retention by John L. Billard of more than $2,- 700,000 in a transaction in which he represented the New Haven and into which he invested not a dollar; the inability of Oakleigh Thorne to ac count for $1,032,000 of the funds of the New Haven Intrusted to him In car rying out the Westchester proposition; the story of Mr. Mellen as to the dis ribution of $1,200,000 for corrupt pur poses in bringing about amendments of the Westchester and Portchester francises; the domination of all the affairsof this railroad by Mr. Mor gan and Mr. Mellen and the absolute subordination of other members of the board of directors to the will of these two; the unwarranted increase of the New Haven libilities from $93,- 000,000 in 1903 to $417,000,000 in 1913; the increase in floating notes from nothing in 1903 to approximately $40,- 000.000 in 1913; the indefensible stan dard of business ethics and the ab sence of financiers in directing the destinies of this railroad in the at tempt to establish a monopoly of the transportation of New England. A combination of all these has resulted in the present deplorable situation In which the affairs of this railroad are involved.” Money Wasted. "From the facts developed in this investigation, it would seem that there is little question concerning the re covery of a substantial amount of stockholders’ money that has been wasted. Several items of this nature will be briefU .summarized: "Overpaid Phrr;v and Thorne in com missions, $303,750. "illegally spent in obtaining West chester franchise changes, $1,524,072.77. "In tlie Billard transaction, $2,748,- 700. "In the money with which Billard acquired 15,755 additional shares of common stock ad 5,826 shares of pre ferred stock of the Boston and Maine Railroad Company was furnished by the New England Navigation Com pany. This stock was turned back to the navigation company for $3,370,08". It would seem that a suit by stock holders for the recovery of the profit which is Justly due the navigation company if any was made by Billard in the transaction, involving these ad ditional shares, could he maintained.. Out of Own Fortunes. “If any expenditures were made in violation of the anti-trust laws of the United States are not such expendi tures ultra vires and is it not the le gal obligation of the directors to sat isfy out of their own fortunes any loss which results to the company? “These are all pertinent questions in the light of developments brought about by this investigation. “Only lawful expenditures are au thorized. “All illegal disbursements are ultra vires. "Directors cannot without account ability deplete a corporate treasury in ventures which are in violation of the laws of the land. Instructions of Senate. “In carrying out the instructions of the senate in this ease the commission has kept in mind the warning of the department of justice to carefully con sider before placing a witness upon the stand the effect his testimony might have 1n the way of immunizing him from criminal prosecution. The commission has only used such wit nessed as seemed necessary to fully answer the senate's inquiry and has refrained from calling those witnesses whose evidence, while interesting, might be merely cumulative. $155,000,000 Wasted. Boston —Whipple, Sears and Oyden, attorneys representing minority stock holders of the New York, New Haven and Hartford Railroad, have demand ed that the directors Join their clients In the suit to recover about $125,000,- 000 alleged to have been wasted by the management. . The suit, which it is siad will he filed this week, will be directed against the estate of .1. P. Morgan, W'm Rockefeller, Lewis Casa Led vard and others, who were members of the New Haven directorate at the time of transactions that have been the subject of Inquiry by the Inter state commerce commission. In a letter to the directors made public today the attorneva sav: Directors Liable. “It la our Judgment that directors are liable for these losses, whieh have so plainly reaulted from their neglect oT Judiciary dwty. On this ground the corporation is entitled to recover from Its directors the differ ences between what was actually naid out for these investments and their actual values —a sum amounting to not less than $94,000,000. "It now seems practically conced ed that all these purchases—trol leys, steamship lines and Boston and Maine shares alike—were also In vio lation of the federal anti-trust act, and on that ground Illegal "On this ground. In our opinion the railroad Is entitled to recover from its directors *lss.ooo.ooo—the aggre gate amount paid for the Boston and Maine shares and steamship and trol ley lines. WILL TAFT SUCCEED LURTON ? (Continued from page one). L. career as a justice on the highest court of the laiuir- Whether lie still cherishes that ambition is not known. When it was reported last winter that Justice l.urton was about to retire, it was Sug gested Mr. Taft might he offered the place, hut it was stated at the White House that his name had not been mentioned. In official circles it is not thought likely that the president will appoint a member of the cabinet, because of his desire to go through his term without a change in his official fam ily. White and Lamar. Before the death of Justice Lurton, the supreme court was made up of six republicans and three democrat*. By his death the democratic representa tion on the bench is reduced to two — Chief Justice White and Associate Jus tice Lamar. Under the circumstances it is thought likely that the president will name a democrat for the vacancy. Further more that has been an un written rule in the senate, which must confirm the nomination, that the mi nority representation sh(a!l not fall below three at any time. Belief was expressed in congress to day that the president would make the appointment before adjournment, so that the nominee may be confirmed in time to take his seat at the be ginning of the fall term in October. With Justice Lamar. Washington.—President Wilson to day sent the following telegram of condolence to the widow of Justice Lurton: “Our deepest sympathies go out to you in your bereavement. The coun try has lost a gifted and honorable servant, whose memory it will always honor, and I am sure that my feeling is the feeling of the whole country." No funeral ceremonies for Mr. Lur ton will be held here because of a change In the route of the funeral party from Atlantic City to Clarks ville, Tenn., where the burial will he. It will not pass through the capital. Chief Justice White, at White Sulphur Springs, W. Va„ has arranged to go to Clarksville with Justice Lamar, now here, but other members of the court, widely scattered for their summer va cations, may not be able to attend the funeral there. Hi* Career, Born at Newport, Campbell county, Kentucky, Justice Lurton was attend ing the county schools when the war between the states began. Though only 17 years old, he enlisted in tire Confederate army and became a troop er under General Morgan. Three years later he was captured and imprisoned. A personal appeal by his mother to President Lincoln brought about his release oh parole, and when the war closed he was studying law at Cum berland University. He graduated in 1867 and began practicing law in Ten nessee. Back to Work. After serving four years as a Ten essee division chancellor, Judge Lur ton returned to the practice of law In 1878 and eight years later was ex tended a Judgeship of the Tennessee supreme court, of which he became chief justice in 1893. The same year President Cleveland appointed him judge of the sixth Judicial circuit of the United States. As a federal Jurist, Judge Lurton was closely associated with former President Taft, then a circuit judge, and when the vacancy in the supreme court appeared in 1909, President Taft appointed him to the post. He took office January 3, 1910, being the fourth Confederate soldier to become a mem ber of the country's highest court. USSSTiniG UP RT ELLOOEE Taken From Jail and Con fesses to Erutal Murder of 12 Year Old White Girl. Orangaburg, 8. C— Rosa Richardson, a negreas, was taken from the Jail at Elloree, this county, and lynched Sun day. The negress Is said to have con fessed to the murder of little Essie Bell, the 12 year old daughter of Mr. and Mrs. Daniel Bell, of the Elloree section of the county. The negress was strung up to a tree by a mob and then riddled with bullets. A crowd of about thirty negroes is said to have gathered about the scene of the lynching and watched, silently, giving evidence of their approval. There is no race feeling and tension is absent, though a large crowd has gone to the scene. The coroner's Jury, after an Inquest, found a verdict that the regress came to her death at the hands of an unknown mob. Sent for the Cow. Saturday Essie Bell was sent Into the field to bring hack the family cow which was grazing in a pasturee near by. Alarmed by her long absence the parents began a search for the little one, which resulted early this morn ing In the finding of the body, partly hidden beneath a log. Wounds on the body showed that the child had been horribly beaten and the supposed wea pon. a "Ugbtwood knot,” a piece of heavy and sappy pine, was found close by. Suspicion Directed. Even before the finding of the body suspicion had been directed at Rosa Richardson, the mob'* victim, and her nlHter, About daylight this morning they were taken Into custody by rural officers and were hurried to Jail at Elloree. A* the little girl's body had been found, the negreeses' captors returned to aid In the search. Several mile* from Elloree they were met by a crowd of searchers, who learned of the arrest. Crime Admitted. The mob at once made its way to the Ellore<* Jail, heat down the doors and took the prisoner* out. The mob victim'* Klster and eo-prlsoner at once admitted that Rosa Richardson had committed the crime, The doomed wo man was taken to the scene of the murder, where, It Is said, she con fessed. She was strung up to a tree aid riddled with bullets, dying in .•tantljg THE AUGUSTA HERALD, AUGUSTA, GA. There, hanging on the tree, the of ficers found the corpse. The coroner's inquest, resulted in a verdict that the negress had come to her death at the hands of an unknown mob. Last night everything was quiet in the Elloree section. SPLENDID CROPS IN THIS SECTION (Continued from Page 1.) dry weather, would be fatal to tho prospects for a bumper crop. The hail did a considerable damage in spots, but not over any wide area and. besides lots of the cotton injured by the hail will yet come out and make a good crop provided the sea-- sons are all right. Augusta merchants will have the most prosperous year In their history if present good conditions keep up and also if the price of cotton is around 12 cents, better, which it is believed will be the case. Markets Middling closed today at L4 1 / B c. Tone Steady. Middling last year 12%c. CLOSING "QUOTATIONS Good ordinary 11 7-8 Strict good ordinary 12 3-8 Low middling 13 1-4 Strict low middling 13 7-8 Middling 14 1-8 Strict middling 14 3-8 Good middling Tinges, first 14 Tinges, second i 3 3-8 Previous Day’s Figures Good ordinary 11 7-S Strict good ordinary 11 3-8 Low middling 13 1-4 Strict low middling ......14 Middling 14 1-4 Strict middling 14 8-8 Good middling Tinges, first 14 Tinges, second ... 13 3-8 NEW YOJtTcOTTON New York.—The failure of this morn ing’s news to indicate any rain of con sequence in Texas over the week-end and the forecast for continued fair went >er in that section, inspired a con siderable buying movement in the cotton market. The opening was firm at an advance of nine to fourteen points and active months sold fourteen to eighteen points net higher during the early trad ing. Higher Liverpool cables, attrib uted to continental buying encouraged the advance hut the met a good deal of realizing and fluctuations were somewhat irregular tow'ard the end of the first hour. After reacting six nr seven points from the early high level the market became comparatively quiet and uuled steady early in the rioon hour with active months some eight or nine points net higher. Wire Troubles—No Quotations NEW ORLEANS COTTON New Orleans.—Dry weather in the cot ton belt, and favorable English cables put corn seven to eight points higher on the opening today. In the/first half hour of business the advance widened ten to thirteen points. Scalpers on the long side commenced to take profits on a large scale and their offerings checked the ifivance and caused a reaction. Around’ noon prices were five to six points up. LIVERPOOL COTTON Liverpool.—Spot cotton steady; good middling 7.99; middling 7.47; low mid dling 6.99; s;ilca 4.009 for speculation and export 300. Receipts 400. Futures quiet and steady. July 7.22 July and August ..7.22 September and October 6.80 November and December 6.67(4 January and February 6.67(4 March and April ~..6.70 CHICAGO r-n AIM MARKET Chicago, lll*.—Prospects of large re ceipts here and at Kansas City had a bearish effect on wheat. Opening prices, 1-2 lower to 1-S advance, were followed by an all around decline. Hot dry weather brought a sharp rise in corn. After opening 1-8 to 7-8 up the market scored additional gains. Oats at the first bulged in sympathy witli tlie coarser grain hut selling pres sure led to a material setback. Provisions climbed on the continued upturn In the hog market. WHEAT— Open. High Low Cios* July .... 7744 78(4 77 77(4 Sept .... 77“4 78 76(4 77 CORN— July .... 70(4 7044 69‘4 • 69(4 Sept .... 68(4 68(4 67(6 67% OATS— July .... 39(4 39(4 37(4 33% Sept .... 36% 36(4 35% 35% PORK— Sept . . . .2087 2095 2085 2092 LARD— July . . . . 2025 Sept . . , .1035 100 ‘1035 1040 RIBS— July . . . .1)97 1202 Sept . . . .1200 1202 1187 1197 NEW YORK STOCK MARKET New York. - The fours* of the stock market today HUKKosted that hears were searching he* weak spots in their est oil# to depress the general lilt. Canadian Pacific the most active stock, f- II 3 3-4 points on combined Bell ing by Canadian houses and the short in terest. Baltimore and Ohio and Louis ville and Nashville lost a point or more under similar pressure, while New Hav en was feverish, declining to its recent low level. Traders were on firm ground. Selling of New Y’ork rentral which brok/* 1 5-8 and further liquidation in minor securities caused the list to sag after noon last week's closing prices. The decline was concurrent with the publication of the Inter-state commerce commission’s condemnation of the for mer New Haven railroad management. Bonds were heavy with weakness In Western Maryland and New York, West chester and Boston i 1-2 s, the latter a New Haven subsidiary. These issues fell 3 3-4 to 5 1-2 points respectively. HOURLY TEMPERATURES Degree*. 6 A. M. 74 7 A. M 76 8 A M. 78 9 A. M 86 10 A. M 11 A M 91 12 noon 1 r> M 93 2 P. M 97 Headache and Ncrvouane** Cured. "fliamberlaln’s Tablet* are entitled to all praise I nan give Wiem,” writes Mrs. Richard 01 i>, Bpencorport, N. Y. They have cured me of headache and nervousness and rentored me to mt normal health.” For sale by all dealers. THIS IS THE BIG BUSY BONUS WEEK HERALD'S HI. & M. LABL CONTEST Here are the Bonus Offers for the Week: BONUS, NUMBER 1. 600,000 BONUS VOTES. To the organizations turning in the Uirgest amount of Castleberry & Wil cox Sales Slips by Friday, July 17th BONUS Votes as follows: The largest amount, 260,000 Bonu« Votsee. Becond largest amount, 160,000 Pnmji Votes. Third largest amount, 60,000 Bonus Votes. Fourth largest amount, 30,000-Bonus Votes. Fifth largest amount, 10,000 Bonus Votes. * EXTRA SEPECIAL OFFER. 10,000 BONUS VOTES on each Dream land Theatre book bought of the Contest Department by JYlday, July 17th. BONUS, NUMBES 2. 600,000 BONUS VOTES. To the organizations turning in ths largest total amount of Sales Slips by Friday. July 17th. It is not necessary for you to get the Sales Slips from all of these merchants, just turn in all the Sales Slips you possibly can from any or all of the merchants listed below: BONUS VOTES AS FOLLOWS: The largest total. 260,000 Bonus Votes. Second largest total, 150,000 Bonus Votes. Third largest total, 60,000 Bonus Votes. Fourth largest total, 30|<0H)0 Bonus Votes. Fifth largest total, 10,000 Bonus Votes. LIST OF MERCHANTS WHOSE SALES SLIPS ARE QGOOD FOR VOTES: M. A. Bates & Company. Stark French Dry Cleaning Company. Economy Shoe Company. Castleberry & Wilcox. Golden Bros. L. J. Schaul. Better Ice Cream Company. Geo. H. Baldowskl, Jr. M. Sheron & Company. Maxwell Bros. O’Connor-Schweer#. B. A. Dial. F. K. Tant. L. P. Speth. Panther Springs Water Company. Burdell-Cooper Company. BONUS, NUMBER S. 600,000 BONUS VOTES. To the organizations securing tbs hignest number of votes by turning fn labels, coupons, bags, crowns, from any or all of the products listed below: BONUS VOTES AS FOLLOWS: The largest amount, 260,000 Bonai Votes Second largest amount, 160,000 Bonus Votes. Third largest amount, 60,000 Bonus Votes. Fourth largest amount, 30,000 Bonus Votes. Fifth largest amount, 10,000 Bonus Votes. List of Products: AlaOa Syrup labels. Brookfield Butter cartons. Swift’s Arrow Borax Soap wrappers. Queen Regent Toilet Soap cartons. Piedmont. Fatima or Chesterfield ci garette coupons. Maxwell House Blend Coffee labels. Maxwell House Blend Tea labels. Bing’s Elegant Flour hags. Sensation Flour bags. Block’s Cracker wrappers. Domino rice cartons. Coca-Cola Gum wrappers. Smith Bros. Alfalfa Horae and Dairy Feed bags. Chero-Cola crowns. Swift’s Jewell Shortening cans. Swift’s Silver Leaf Lard guarantee labels. Swift’s Premium Ham wraptper#. Swift's Premium Bacon wrappers. Libby’s Rose Dale peach labels. Libby’s Happy Vgle Peach labels. Or any other labels from Libby’s pro ducts. Dolly Madison Talcum powder. Idcnl Peroxide Face (Team. Stones Wrapped Cake wrappers. Cinco Cigar box top. San Felice Cigar box top. Santaello Cigar box top. C. TT. R. box top. Preferencla Cigar box top. Optimo Cigar box top. Tadema Cigar box top. These cigar box tops must be stamped Rurdell-Cooper Tobacco Co. The awarding of all of the above bo nuses will be determined by a commit tee of prominent Augusta business men, whose finding will he final in the mat ter of the awards. Winners announced in Sunday’s Herald. SPECIAL NOTICE. You have only three more days to get. bonus votes on savings deposits | n the Merchants Bank, or the Plaza Branch. All deposits made by Wednesday, July 16th, tCTI! count 2,000 votes for every dollar deposited. Hpecial notice is called to the new fa*o~ duct entered this week -AlaOa Hyrup— save the lebels. For Bale at all grocer*, $2,000.00 IN CASH AND PRIZES == For Labels and Sales Slips in Herald’s Merchants & Manufacturers Voting Campaign PRIZES FOR ORGANIZATIONS: First Prize $1,000.00 in G6ld. Second Prize S2OO in Cash INDIVIDUAL PRIZES-GRAND PDIZES- $250.00 IN GOLD. SECOND PRlZE—Business Scholarship at Osborn’s Business College. CHILDREN’S PRIZES SIO.OO Bank Accounts. SECOND PRIZE Girl’s or Boy’s Bicycle. 3rd, 4th, 6th, 6th, 7th and Bth Prises—Gold Filed Watches. ALL VOTES COUNTED ON BUROUGH’S ADDING MACHINE THE MOST ACCURATE KNOWN For any information or particulars concerning Contest, call Phone 1200, ask for Mr. Goodrich, Con test Manager. # Contest Headquarters, 213 Macartan Street* IIN THE’ This week, ending: with voting: day Friday, July 17th, an opportu nity is offered old contestants to se cure big: bonus votes, in addition to the regular liberal schedule of votes issued on all labels, wrappers, sales slips, etc. The three Big: Bonus offers of 500,000 votes, each making: a total of a Million and a Half, cover the entire field of products listed and all local merchants co-operating:. Ev ery contestant and organization has an equal chance to win one of these big: bonus offers. There’s no reason why the most active, energetic and hard working:organization shouldn’t win more than one of these Big: Bonus offers. It’s worth trying:* It costs nothing: to try, and work will win for your favorite. i Read carefully the Terms of the Big Bonus Offers for This Week and Get Busy. SEVEN