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8 Llll[ll IS GHASED 8! ■SHIPS The Nimnetonka. Flying Brit ish Flag, Not Sure of Identity of Pursuer. In Wireless Call With English Cruisers. N*w York. Th* rajrtAin of tho At lantic Transport Liner Mlrmetonka, in today from laondon, with 127 cabin paahmK'TM, reported that hie Hilp had pern chased by a »»r veeeel from a Point eorno dietance aaet of Nantucket LifthtahJp to nearly within eight of land The Minnetonka files the Britl*h flag When the pursuing ehlp whose Identity could not he made out, put On full speed At nightfall with the craft eflll following all the light* on the liner wer«* rxtlnxuia led. By day llgTtt the warship wne out of eight Not far off the roast of the United fttetee the Minnetonka wn* in com munication with the British cruiser Kseex which asked if any German cruiser* had been sighted. In the Minnetonka was in wireless com mimfea tlon with the British cruiser Lwak*. On Haturday the liner passed at a distance twoo American war vessels hound east. Tlicy were believed to have been the Tennessee a.nd the North Carolina. Among the cabin passengers on tha Minnetonka was Owen Wlater, the novelist. With Lights Out. Philadelphia. The American Line steamship Haver ford flying the Brit ish flag, njrrlTed here today from* Liverpool with passengers. She made the greater part of the trip witj light* out. The steamer left Liverpool July 2® and was well out at sea when inform ed that war had been declared between Kngland and Germany. Every ounce of steam was put on to speed the ship across* the Atlantic. The ships of ficers ns Id there was no excitement among the passengers iTHE TURCOS ARRIVE 111 ALSACE Famous Native Troops From Algeria Have Joined the French Soldiers. Are Arab Horsemen. Paris#-—Detachments of the famous Turcos rs* native troops from the French colony of Algeria penetrated upper Alsace today The Turcoe whe penetrated Alsace to day *rt Arabs recrutted tn Algeria, whara they are almost oonstently, on ae> Uv# sarvtc# In the southern provinces against the roving tribes of Arab horse inen who continually lutrrass the French trops Half their officers are French men and the othsr half Use from the ranks of natives They nr* remarkable •harpshooters and showed great bravery in ths Crimean war as well rs In the Bran- o-Pruaalan war In IS7O-7L 1¥ NDT SHIP GRAIN ENGLAND 111 BELGIUM North American Grain Dealers Association Make Decision After Meeting Committee Named. Ngw York. Notwithstanding Bel Ihmi and Knirtish appeal for bread, American exporters may ship no more grain to either country for some time as the result of a meet Inn today of the North American Grain Dealers' As sociation. A committee of five, to he appointed by the aasodatlon'a presi dent, was empowered to take “such measures as may h* neceMaary to pro tect the Interests of shippers in all matter* affected by the present war.” Whether shipments of grain should continue on contracts matte before the war was the subject of a vigorous proirst b| the Liverpool Corn Trade Association which had received re porta that further ahlpmenta on such contract* would not be made T4ver poorsrepreaentatlves told the dealers they had the assurancea of bankers that exchange would be nearly normal within a week. ''Hostilities in Furope,” read the preamble to the resolution, "author ising the appointment of the commit tee. beside creating woolly abnormal conditions which render generally impossible the performance b> bu\ ere of the obligation of pre-eatstlng contracts for tbe shipment of grain to the countries at war and the ports of certain adjacent countries, also ef fectually prevent such shipments" Two urgent appeals by cable from the Belgian minister of war for Am*r lean grain were transmitted to the association by the Belgian consul here The Belglsn secretary of war requested the consul to nttlfy the daaJere that England assured safe passage vs grain-laden vessels across the Atlantic and that paynwnts for wheat were guaranteed by the Bel • lan •ox emment A MISTAKE AVOIDED. my, old chap. Tm In shocking tack X want money badly and haxan't the leant Idea where 1 can get ft * "Well. I'm glad to hear that. I thought perhaps >ou had an Idea you could borrow from uie.' B>dne> puUatln. NATION WIDE INTEREST IN SOUTH’S COTTON CROP. PLANS BEING DISCUSSED TO HOLD AND HANDLE COTTON VARIOUS VIEWS AIRED. ALL AGREE ON THE MAGNITUDE AND IMPORTANCE OF SUBJECT. “Valorization” by Government, Brings Forth Free Comment ami Sharp Criticism. “Sit Tight and Don't Lose Your Nerve,” Advice Given, While Plans Worked Out. THE SOUTH AND ITS COTTON. AND THE WAR IN EUROPE. (New York American). In the midst of tha general steadiness in economic and business conditions throughout the country, there la a circumstance surrounding flic Southern Staten where menace may be and Hhould lie avoided by the wise conduct of I(r business men reinforced by (lie thoughtful co-opera tion of a practical and Intelligent government. The Euraioau war promises to make the West rich. That granary of the republic has in Hr grain and foodstuffs the vital need of Euro pean nation* NOW, If they could ho carried across the Atlantic., and csrtnnh In overwhelming demand as soon us the war is over. The South fronts greatest cotton and staple crop it has had in vears. Recent prices were good, ami under normal conditions the Southern far me r would have reaped a harvest of well-earned riches irom the product of the year, The . outh'e yield of cotton Is about 14 000,000 bales. Of this pro duction our own country'* mills use ti.ooo.oflo hales Europe takes ths othsr 8,000.000 hales, and of this export Germany and Austria consume 4,0O0,O(io kale*, and England and France the other 4,000.000 hales Even if it should happen that the English and French demand should not he fatally affected by the war, it is practically certain that Germany and Austria are not likely this winter to call for their 4,000,000 bales of Southern cotton. So that the South, within the last seventy hours, has awakened In apprehension to the fact that Ita kingly static which has so long been rag mint In the markets of the world Is in peril of It* revenues. There is said to he in consequence much depression in the great ag ricujtural South, out of which comes fear of a fall from 13 cents (o 14 cents cotton to cotton at 8 cents and t> cents —-a price far below the level of Southern prosperity. Something ought to he done strongly »nd done quickly to encourage and to enable the Southern farmer to carry h t cotton over this period of apprehension and doubt. That hero-worker of Southern recupera tions should not ho allowed to sacrifice his staple at ruinous prices in a period of panic and discouragement. The American, who has aiwav* been the friend of the Southern far mer, believes that the strong business men of the South and the Na tonal Government ought to get together right away in a vigorous and united effort to save the situation A few year# ago. when the people of Brazil raised so huge a crop of coffee that the price of the product went down to ruin prices, the Bra zilian Government raised the money to sustain the standard of prices for the crop, and saved the HruzlUan farmer millions of dollars Tills valorization of coffee In Brazil worked well in Its results, Tl\« Vmerlcan fs not ready to advocate the government valorization of cotton in this emergency But the situttlon demands judgment and power lo keep the South from disaster. It would coat the South between two and rhree million dollars to have cotton fall to six or eight cents, and If the brains of Its business men mid the wise, strong policy of the government ran prevent it, tti.s commercial calamity suould not fall upon the great section Just grow ing out of disaster into riche* MEMPHIS COMMERCIAL APPEAL EDITOR SUGGESTS VALORI ZATION. (New York Herald.) To the Editor of The Herald: Two days ago I wrote an editorial in the Commercial Appeal suggesting that the United State* valortie cot ton. as Rraz t did coffee It la not « question of getting the cototn to Europe wo much a* It I* a quest mu of getting the value of the cotton when it goes to Europe If w* could e\;ort cotton to Europe now the mill* would not take It un less it were at * ruinously low price, because the chief manufacturing mills are in England France and Germany. There is a prospect for a yield of not mom than l4,OOo,OtH) bales. Tbe crop is spotted There h»* been a de iclency of rainfall In the South this season I have seen government reports of ralna over a certain terri tory. when, as a matter so fact, the Inina were only In siiota In tht* terri tory. Vnder normal conditions con sumption and normal trade conditions the cotton crop this year ought to fetch S7O a bale, or a total of $080.• Tne plan suggested hv the Commer rial Appeal w.is for the government to issue warehouse receipts on the cotton when (Tiered tn bonded ware houses This bonded warehouse could be at the usual heavy concern irntine point* This certificate could be issued to the holders or owner* of cotton, and against the certificates the government could issue tempo THE AUGUSTA HERALD. AUGUSTA, GA. MOBILIZED rary cotton money on a baste of 12 cents a pound, middling. The government should also insist that no cotton be sold for domestic mills or any other mills lower than 12 cents, middling. If the domestic mills do take a great deal of the cot ton they would have to pay at least this price. Then so soon as tha war Is over the cotton could tie shipped to Eu rope and sold In the ordinary course of business Surely It would bring more than 12 cants a pound The money secured could be used for re tiring the cotton notes and the trans action would he closed. A basis ol 12 cents would make the government reasonably safe. My thought is that even If we could export cotton to Europe now with the mills idle the price would be ruinously small. If w - e were compell ed to sell this cotton crop around 5, 6 or 7 cents we might as well give it aw ay, because instead of being abso lutely broke we would be half broke. I believe the purpose of congress should he, not so much marketing tbe cotton at a low price now, as the holding up of the price of the cotton to a point somewhere near its value. Any coton expert will tell you that tinder normal trade conditions the supply in prospect would surely fetch more than 12 cents a pouud, .middling. Some may say if the government goes Into the business of financing cotton It should go into the business of financing wheat and pork and mo lasses. An answer to that it that cotton is non-perishable. Age does not stale it. It is easily Insurable, and every bata oan b« identified- The plan is simple. The only thing about it Is that It is big. What i pro pose Tor the government to do is be ing done every year by the larger banks of the South, assisted by tbe New York banks In the city or Memphis, where a million hales of cotton were handled laet year (cotton actually bought and sold on this mar ket), a buyer often went to a batik with a bill of lading for 10.000 bales He simply attached tha draTt to this hill of hiding, tut It in his bank and immediately received credit for it. The draft was forwarded to New York and there was handled by the New Y’ork bankers If our hankers themselvy* had enough money they could handle the ens re cotton crop this way this year and hold it for six month*. The transaction recited Is possible be cause the hanks quickly transfer the money or its equivalent on these large transactions. This problem concerns the whole rountjry because the South's cotton every rear starts hack to New Y’ork from Kuroi»‘ the gold that comes to Europe in tt'e summer I am sending you this plan In ths oope that you will give it your con sideration and co-operate with the Southern people in a transaction which will not only help them, but will he of equal help to the whole nation 0 r .1 MOONEY. Managing Editor Commercial Appeal. NEW YORK HERALD REPLIES TO ABOVE SUGGESTION. Cotton Currency Redlvious There I* someth ng captivating to ths imagination ot the Southern plan ter in the notion of the government— that is to say, of the people of the United States, insuring a high price for his cotton by making advances on it and in effect making the basis of circulating medium. The suggestions of Mr. 0. P J. Mooney, or Memphis, as set forth in another column this morning, recall the days of the Populists, when such schemes for caring for grain and cot ton were thoroughly discussed and their fooTlShness exposed. There is no occasion' for anxiety in the South over the fact that the war in Europe will stop many spin dles. Our own mills working in creased time to supply the markets abandoned by Europe will create an active demand for the staple and at remunerative prices. NO NEED FOR COTTON ALARM SAYS BIG BANKERS. New York —A. J. Hemphin, presi dent of the Guaranty Trust Company, which takes a prominent part in fi nancing cotton exports, said that nothing was yet to be said about the conferences of bankers. Efforts had been made, said he, to reassure the associations of planters that meas ures were being made to meet con ditions. There are not a few bankers Inter ested in the marketing of cotton who believe that the Atlantic will be open to shipping before the staple begins to pile urn at Southern warehouses. As one pdt it yesterday, “people have to wear ijlotbes or get arrested," and the paralysis of business on the Conti nent Is not expected to destrey the major part of the normal demand for tinished goods. With England's spin dles once more in a position to re ceive cotton the prediction is made that the manufacturers will run the chance of selling their goods and will import the raw material on a heavy scale. Another outlet is expected In In creased operations of our own mills. Normally, the country uses up about 5,000,(100 bales a year Competent authorities say that there ie always a surplus of spindles which could be utilized if she owners thought that it would be profitable to do so. and tbe prediction is made that it would be possible to dispose of fully 7,000,000 bales here. Manufacturers see a grfiat oppor tunity for expanding sales if the mills of the Continent cont nue to be af fected They will have a better op portunity o: selling goods, not only to the nations of Continental Europe, but also in South America and Asia. The most bothersome factor In tbe situation Is the uncertainty which is attached to shipping facilities throughout the world. Ways and means of financing the cototn crop are being considered by local bankers, and word has been sent South to the planters not to get ex cited over the situation. The bankers ee pec tally Interested in the export movement Of the staple have dis cussed the problem thoroughly with W. I* C. Harding, member of the Federal Reserve Hoard and a former president of the First National Rank of Hrmtnghsm, Ala. Mr. Harding’s experience In banking In the South satnds him in good stead when the needs of both the grower and the banks holding paper based on the crop come to the fore. Mr Harding said yesterday that if our commerce continued to be held back when the pressure of the crop on the market became Intense tbe co operation of the banks would be nec essary to hold the situation is band. He suggested that if there was need, arrangements might be made for all holders of cotton paper to grant thirty o r sixty day renewals. The impression he gave, in discussing the problem, was that there was nothing like a crisis facing any parties con cerned. “There are obvious advantages,” said he, ‘in having cotton remain in the hands of producers for the pres ent, and I Teel sure that the meas ures taken by the Treasury are abun dantly sufficient so enable the South to hold cotton in first hands if the Southern banks and merchants will do their part. I suggest that such action be taken as could be taken were the season late and she chances good that no cotton could be avail able until October Ist. “The active movement of the crop usually begins Shout Sept. 1, but there have been years when, owing to a backward season, the movement did not become general until October Ist. The obligations of the growers and merchants do not usually mature before September 15th, at the earliest and frequently run imo November and December, while their fertilizer nots rarely fall due before October 15. “When the crop is late there is no difficulty in getting extensions until it is marketed, and at the present time arrangements have been made for a very large increase ot currency in circulation which will enable bank ers to allow extensions without in convenience. Farmers may require additional advances of small amounts for picking and ginning, but could get speedy reimbursements by selling the cottonseed” A BILL TO LOAN DIRECT TO THE FARMERS ON CORN, COTTON, WHEAT ANb OATS ON WAREHOUSE RECEIPTS. Washington, D. C.— Two billion dol lars’ worth of “corn tassel" currency 1* provided for In a bill which was In troduced in the house today by Rep resentative Robert L. Henry, of Texas, who was the author of the same kind of a proposition whan the Currency Reform bill was pending before The House Hanking and Cur rency Committee, about a year ago. At that time President Wilson used his influence toward heading off the “corn tassel" currency scheme. Mr Henry thinks events have dem onstrated that in refomr.ng the cur rency the administration might have taken better care of the farmer. His bill would permit the Federal Re serve Board to loan federal reserve notes to producers of corn, wheat, oats and cotton The currency would be backed up by notes pledging these commodities by means of warehouse receipts, or cotton liens. The proposed law is only temporary' and would in reality be a companion measure to the Glass bill, passed sev eral days ago. The limit of "corn tassel” currency would be $2,000,- 000,000. PRESENT DAY POETRY We have no poet* nowadays. No gentle warblers whom we praise For their Imagination. Ter Truth and Fancy, hand In hand. Ate found abroad In our great land In many a fine oration. —Exchange. DIVISION OF LABOR. City Boarder-—'*! auppose you hatch ail these chickens yourself?” Firmer—"No; we've got hens here for I hat purpose.'—Judge TUESDAY. MH3UST.H. Explanation Demanded By Italy London. —According to the corre spondent at Rome of the Morning Post, the relations between Italy and Austria are becoming more strained. Italy has demanded an explanation of the bombardment of the establish ment of the Puglia company at Anti ' aria, Montenegro, over which the Italian flag floats and in which there were Italians. . The economic effects of the war al ready are severely felt in Italy. Train service has been reduced to save coa! of necessity. There is a scarcity- of the smaller denominations of money everywhere. The mayor of Rome has issued a list of maximum prices which may be charged for food. THE FIFTH LINE OF ENGLISH DEFENSE Recruits for Army Enlisting Several Thuosand Daily. Most Able Bodied Men Drilling. London.—Results for the army are en listing at the rate of several thousand a day. Business men are organizing their employes into a fifth line of de fense. A majority of the able-bodied men of the country are drilling in their home organizations. Queen Alexandra, who started the Sol dier and Sailors' Relief fund has con sented to irnrge her fund with that of the I rinre of Wales. Queen Alexandra and former Queen Marie Amelie, of Por tugal tod ty visited the headquarters of the Prince of Wales fund, where they were informed It had reached $2 500.000. The Duke of Portland has placed the famous Welbeck Abbey in Worksop at *he di. e T r, *al t he Red Ooss. the Puke of \Aestmlnster has offered the society both ids town and country seats, and Louis Jlarcourt, secretary for the colo nies. has given his r ountrv residency Nuneham -Park. Oxford, for convales cents. Germans nave heen forbidden to en gage in banking business, except with the permission of the home secretary. The order Includes hank orders In the directories of English banks, are many prominent Germans. The White Star liner Ovmpie s sailings for o toher and September have heen cancelled • * IN DEEP WATER. The cultured w'oman from Boston was trying to make conversation "Do you care for CrAbbe** Tales?" she asked “1 never tte any," replied the hre**y girl from Gbit 8.» "but fm Just des£ •tuck on lobsters.**