Newspaper Page Text
TUESDAY, NOVEMBER 17.
REPORT OF MR. IRVIN ALEXANDER,
RECEIVER OF ISO AMERICAN BUI
Makes* a Detailed Statement to Judge Henry C. Hammond of
the Receipts and Disbursements. For First Time Exact
Amount of Deposits Known and They Were Nearly Half
Million Dollars.
Mr. Irvin Alexander, receiver of the
Irish American Bank, has submitted a
report to Judge Henry C. Hammond,
covering the entire period of his service.
Nearly one year ago the Irish Am°riean
failed and ns both Judge Hammond and
MV. Alexander realized the great inter
est in Augusta, and this section of the
country in the receivership matter, they
decided that a full and complete state
ment of the condition should be made.
The report sliows for the first time
the exact amount qf the deposits of the
bankrupt institution and they foot up to
$461,532.12, not including certificates of
deposit, amounting to $11,139.93; de
posits not verified of $8,590.95 etc.
The largest single indebtedness to the
Irish American Bank is in the form of
an overdraft of tlie Industrial Humber
Company for $200,000. Jas. P. Arm
strong, cashier of the defunct bank was
president of the Industrial. This con
cern also went into bankruptcy and is
now in the hands of a trustee appointed
by the United States court in South
Carolina.
The report of Mr. Alexande contains no
intimation ag to how much on the dol
laf will be paid to depositors and credit
ors because the receiver cannot tell, as
yet. He is suing on many notes and
using every possible means to collect
what is owing to the bank. The report
ha® been filed with the clerk of court.
THE REPORT IN FULL.
Mr. Alexander’s report is as follow’s:
State of Georgia vs. Irish American
Rank. Richmond Superior Court, Mar.
Term, 1914 —In Equity.
Report of Irvin Alexander, Receiver.
The report of Irvin Alexander as re
ceiver of the Irish American Bank, re
jßpectfuily shows:
I—On January 26th, 1914, I was ap
pointed Receiver of the Irish American
Bank in the above stated cause, with di
rection to fiie a bond in the sum of $50,-
000.00: and the order of appointment di
rected me as receiver to deposit all
funds belonging to said defunct bank in
the National Exchange Bank and the
Union Savings Bank.
On February 2nd. 1914, after having
filed the bond required and taking the
oath of office, I entered upon the dis
charge of my duties as receiver, and
took over from the bank examiner of the
state of Georgia and Charles Neville &
Company, who had been employed by
the state bank examiner to check th«
books and perform the duties of the
state bank examiner up to the time of my
appointment as receiver, all of the money
which had been collected and all of the
assets of the bank. From that time on
I have bent every effort toward the col
lection of the notes and overdrafts due
to the bank, and the following is a con
densed statement of receipts and dis
bursements of funds coming into my
hands up to November Ist, 1914:
RECE IPTB.
Prom Charles Neville * Co., collections made by them, Including the
t cash balance in the bank at the time the doors were closed on Dec.
13th. 1913 - * i’Txl I?
From sales of veal estate 4,730.00
From rents - ; 2,914.28
From other banks, being balances In their hands due to the Irish-
American Bank at the time of its failure 1.201.77
From attorneys and magistrates, collections by them on notes which
had been turned over to them prior to the failure of the bank 1.500.31
From notes collected by receiver 24.817.01
From interest due on notes, and otherwise 1,127.81
From overdrafts * Q'12.49
$4’,686.33
disbursements.
State and county taxes for 1913 ... ....$ 643.44
Collection expenses, Including fees retained by attc/rncys on collec
tions of notes placed in their hands before the failure of the bank 675.42
Advertising sales insurance, etc 80.30
Court costs and costs paid Bailiff for serving notices for suits 302.00
Maintenance of building, Including electric lights, coal, repairs and
tanitor’s service ... * 969.25
Fxoense of checking deposit books and clerical service to receiver.. 2,059.25
Cost of real estate in Edgefield County, S. C., bought by receiver to
nrntect judgment of foreclosure 984.25
General expense account. Including $1,012.00 paid to Charles Neville *
Company who were employed by the Bank Examiner before the f s
appointment of the receiver; and Including also premium on re-''
reiver’s bond of $250.00 ... ......... 1.615.3,
Cash on hand in bank, including time certificates of deposit 34,337.05
2—lt is proper to cay In explanation
of the size of the expense account that
In the item "General Expense Account
appears a payment of to
Charles Neville & Company. This is a
firm of certified accountans placed tn
charge of the affairs of thebankby the
Btate bank examiner at the time the
bank closed its doors. Neither the re
ceiver nor the court is responsible for
this but It seems to have been incurred
by operation of law. My information
Is that these accounts were to report
upon the solvency or insolvency of the
hank, and upon their report of its in
solvency the attorney general
behalf of the State of Georgia a bill un
der which the receiver was appointed.
Clerical Services Large.
The clerical services are large for the
reason that it took one man familiar
with banking to check the deposit books
against the books of the bank. Mr. Von
derlieth was engaged In this work, and
was steadily employed from the time
the bank examiner took charge up to the
first of September. The books of the
hank were in such condition that pro
gress was necessarily exceedingly slow.
In many of the accounts checks which
were drawn against deposits, and which
of course should have been charged
against the depositors, were by error
entered ss credits Tt was only by
careful and painstaking work that the
pass books held by depositors were
properly checked and the amount of de
'boeite correctly ascertained. In addi
tion to the services of Mr Vonderlleth
the receiver, with the consent of the
court also employed Mr. J. C. Wienges.
all of whose time was employed in
waiting on creditors of tbs ba.DK And
keeping the books of the receiver. It
was necessary to have an expert for this
purpose because the receiver himself
was not a bookkeper, and did not know
how to do the work; and besides this it
was not contemplated that the receiver
should he at the bank at all times dur
ing bank hours, as wt| Mr. Wlsnges.
S—ln addition to tht cash statemsnt
ss shown above I also beg to report that
additional collections were made from
parties who owed the bank, but who also
at the same time had deposits In the
bank. These deposits of course were
offset against the notes, and while they
do not appear in the cash statement no
cash having actually passed, all such
transactions are shown by Journal en
tries. and the Indebtedness due by the
bank to depositors has been decreased
accordingly.
*200,000 Overdraft.
4— The assets of the bank not yet con
verted into cash conslat of a claim of
some $240.00000 against the Induatrtal
I.pmber Company, which Is in the hands
of a trustee in bankruptcy appointed by
the United Mtsea court In South Carol
ina, and is in the form of an ovfS'draft
various notes aggregating the face value
of I»0.000.00, some of which are In suit
and some of which are about to be sued;
other notes In the hands of attorneys
employed by the hank before It closed its
doors aggregating some 150,5*4.11: sev
eral lots of land in Nalllevllla, a suburb
.in• the city of Auguata, which have not
'yet been sold: and some 200 seres of
land In Edgefield County, South Caro
lina, bought by the receiver In October
at public sale under the direction of th»
court, whloh was brought to sale under
foreclosure of a mortgage thereon. $95,-
$46.21 of notts are pledged with the
banks for collateral security on Indebt
edness due them.
The Bank building itself stood in the
name of the Realty Investment Com
pany. This company borrowed from tlm
Northwestern Mutual Life Insurance Co.
$25.000.00. giving a security deed and
receiving hack a Bond to Re-convey.
This bond was transferred by the Realty
Investment Company to the Irish Am
erican Bank, and by the bank trans
ferred and assigned to the Citizens
Southern Bank to secure certain in
debtedness due by the Irish American
Bank. As the indebtedness for which
this bond was given to secure is in ex
cess of the value of the equity repre
sented by the bond, I do not consider
that the hank has a very large interest
in the building. The Citizens & South
ern Bank has already taken a judgment
of foreclosure, and the property will
doubtless be sold in January. For this
reason the Bank building is not listed as
on asset of the Irish American Bank.
Bank’s Liabilities.
5 The following statement shows ap
proximately the liabilities of the Irish
American Bank, off-set, however,, as
hereafter explained, to-wit:
Due to banks for money bor
rowed before the failure of
the Irish American Bank, hs
shown by the receiver’s books $ 91,863.71
Collections for correspondents
made by the Irish American
Bank the day of its failure
and not remitted 485.10
Outstanding checks 10,478.49
Cashiers’ checks 2,839.00
Certificates of deposit 11,139.93
Accounts payable 1,196.54
Due to depositors (these have
been verified by checking
each pass book carefully).. 461.532.13
Deposits not verified 8,590.95
$588,127.84
Certain Indebtedness Reduced.
The indebtedness due to the banks,
as shown by the first item, will of
course be reduced, for the reason that
all of these banks have collateral in the
shape of notes which have been trans
ferred as security. Some of the security
has been collected, but the receiver is
not advised at present of exactly how
much.
6lt is impossible at this time to esti
mate just how much more cash will be
realized by the receiver on the assets
now in his hands. The experience he
has had up to this time has shown that
some of the notes which he expected to
get are not collectible, for reasons
which have appeared in each instance,
and on the other hand he has collected
money on some notes which he had no
•reasonable expectation of collecting. The
same will be true of the notes remain
ing In his hands, and no estimate could
be formed by any one inspecting the
notes of Juet what their value will
eventually be.
7—-Shortly after taking charge of the
affairs of the bank I arranged with the
two depositories designated by the
court for interest on my deposits, and
under that arrangement I was allowed
three per cent, on daily balances. Home
two months ago I was able to purchase
certificates of deposit for $31,000.00,
bearing five per cent, interest. inter
est, therefore, received from these de
posits, while we are awaiting the oppor
tunity of a dividend, will reduce to some
extent at least the expenses.
The law provides that at the first
term of the superior court in each year
the receiver shall make a detailed state
ment of all receipts and expenditures;
and at the proper time I shall do this
In the meantime I deem it advisable that
this report be made In Wder that the
court and the parties Interested may be
advised of the progress which is being
made.
I regret that the costs of administer
ing these assets have been so large. I
have endeavored In every way to hold
them down to the minimum. The class
of assets and the condition of the hooks
of the bank were such that it has been
impossible to reduce the expenses be
low vhat are shown. There Is no way
to properly place before the court the
difficulty under which I have labored
and the many trying circumstances
which I have had to meet. It 1s im
possible, however, to say at this time
whether the remaining notes will be col
lected, or when I will be In a position to
advise that all have been collected which
can b«.
Respectfully,
IRVIN ALEXANDER,
November 16th, 1914. Receiver.
JAPANESE PIN
CUSHJON FREE
Given Away With Ten Cent
Purchase of Tuxedo Tobacco.
Every lady in town ought to be
“stuck on" this pin cushion offer by
the American Tobacco Company. To
start with, the cushions are the neat
est novelty seen here In this line.
They are shaped to represent cunning
little Japanese tea pots, with a handle
by which the cushion can be hung up
against the wall In a convenient place.
In addition, from the smoker's point
of view, when he buys a tin of Tuxe
do he is getting the full worth of his
dime In the most popular and delight
ful smoking tobacco on the market.
Every smoker knows "Tuxedo Pro
cess.” Tuxedo Is made from the high
est grade Kentucky Hurley, treated
by ths original Tuxedo Process so
that It absolutely cannot bite the ton
gue. This fragrant tobacco is equally
good for pipe or cigarette.
Inasmuch as the dealer’s supply of
these clever pin cushions Is limited, It
is advisable for you to make your
Tuxedo purchase as soon as you see
the sign In the dealer's window. Only
one cushion to each purchaser of a
ten cent tin of Tuxedo.
HO BOH
1130.000.000
COTTON LOAN
Secretary M'Adoo Says Only
$4,000,000 Remains to be
Subscribed. Much Better
Feeling Now Apparent.
Washington—Secretary McAdoo re
iterated today that the $185,000,000
i cotton loan fund lias not been aban
doned and characterized predictions
that it was likely to fail as ema/iating
"undoubtedly from certain selfish in
jtoreHtN opposed to the fund.”
| "The required subscriptions," Mr.
McAdoo said, were almost complete,
and it is expected that a definite an
nouncement will be made within the
next few days." He added that while
the business situation had greatly
improved, both he and members of
j the federal reserve board were con
vinced the fund would be of great
I benefit to the whole country.
“The general belief that the fund
| would he successfully raised,” said
j Secretary McAdoo, “has been a eon
[trlbuting factor in creating the im
j proved conditions and greater confi
dence which now prevails, particular
ly in the cotton market.”
Between $3,000,000 and $4,000,000
i still remains to bo raised among
northern hankers, particularly in New
England. If they fail to subscribe
banks In southern states will he asked
to meet the deficiency through their
northern correspondents.
BATTLESHIP OR
SUBMARINE, 11. S.
Early Conference Between the
Secretary of Navy and Chair
man Padget for Bill in Dec
ember Session.
Washington, D. C. —Secretary Daniels
and Chairman Padgett of the house na
val affairs committee arranged today for
an early conference over the naval ap
propriation bill to be acted upon at the
December session of congress. Air.
Padgett said he did not know what the
battleship building program would be. “I
do not know whether it will be one, two,
three or four,” he added.
Some of the members of the commit
tee have expressed an inclination toward
the building of more submarines and tor
pedo boats rather than an increase in
battleships. President Wilson lias in
dicated there would be no change from
the two battleships’ program, of last
ALLOFNORTHSEA
A MILITARY AREA
London, 3:15 p. m.—Premier Asquith
stHterl in the house of commons to
day that the British government had
decided to declare the whole of the
North sea to be in the military area.
All the subjects of the enemy found
on neutral vessels, the prime minister
said, would Vie liable to detention as
prisoners of war.
Mr. Asquith also announced that oil
and copper would be declared contra
band of war.
$41,686.33
S. A. NEUTRALITY
AND THE U. S.
Washington,—Questions of neut
rality of South American counties do
not concern the United States in a
strict sense, President Wilson de
clared today. He expressed the hope
that assurances of neutrality given
by Ecuador and Colombia would be
sufficient to satisfy Great Britian and
Prance, which contend the Herman
fleets have been receiving aid from
Ports of those nations.
1 CENT MORE FOR EACH GLASS
OF BEER.
London, 5 p. m—David Lloyd-George
chancellor of the exchequer, proposed
in the House of Commons today, an
additional duty on beer of 17 shillings,
three pence per barrel. This is equiv
alent to about one cent on each glass.
JUDGMENT* AFFIRM ED.
Albany, N. Y.—The Judgment con
victing John N. Anhut of attempting
to bribe Dr. John W. Russell, former
superintendent of the state hospital
for the Insane at Matteawan, to bring
about the release of Harry K. Thaw
was affirmed by the court of appeals
today.
MUBT OO THROUGH MALB.
London. —An Amsterdam despatch to
Reuter's Telegram Company staes that
a German official communication an
rouncea that the gemsal commander of
the seventh army corps of Munster.
Westphalia has Issued an order prohibit
ing the transport to Holland and vies
versa of letter* or other written commu
nications other than through the post.
DEAD AT THE AGE OF 113,
Wheeling, W. Va-, Nov. 17—Mrs.
Sarah Brandon, known as the “mother
of the civil war" died at her home In
the southern part of Belmont County,
Ohio, last night at the age of 11J
years. Her death resulted from a
broken hip sustained five days ago.
MEXIC BULLET HITS WOMAN.
Nsoo. Arizona. Both the Maytorena
and Hill forces resumed firing early
today and a stray bullet, flying over
the American border, struck Mrs. A.
P. Krohn, wife of a Southern Pacific
Railroad official In the head. Th«
wound Is not serious.
IDLE REPORT.
Washington,—President Wilson to
day characterized as an idle invention
a report that American Ambassador
Gerard would resign his post in Ber
lin as a result of his defeat In his
candidacy for the United States sen
ate from New York.
Overcoats $7.60. SIO.OO, $12.50, $16.00,
wool, made stylish F. G. Mertins.
.nt AUGUSTA HERALD. AUGUSTA, GA. "
CARRANZA'S 01
CONDITIONS FOR
RETIREMENT
Mexico City Papers Publishing
President Guiterrez Telegram
Approving them. Think Under
standing Beached for Peace.
Washington.—Secretary Bryan an
nounced today receipt of a message
from American Consul Silliman at
Mexico City, saying the newspapers
there hud published the text of a tele
gram from General Gutierrez approv
ing the conditions set by General Car
ranza for his own retirement.
Mr. Silliman reported that a tele
gram from General Carranza to Gen
eral Gonzales, which was transmitted
to General Gutierrez, stating the wil
lingness of the first chief to deliver
the executive power under certain
conditions, also was published. Mr.
Stillman’s dispatch made no mention
of Just what the conditions were.
Both to Leave Mexico.
Secretary Bryan sdtd he had no ad
vices from any other source to show
what, stipulations finally had been
agreed upon but that there had been
discussion in previous dispatches of the
wish of Carranza that he and General
Villa leave Mexico.
When the cabinet met It considered
these latest phases of the situation.
The feeling of officials was that an
understanding had been reached which
would bring peace.
In some quarters it was suggested
that Carranza's conditions of retire
ment would not be made public and
that Gutierrez actually would not be
Installed into office In Mexico City
until both Carranza and Villu had left
the country.
0. S. TO HOLD
VERA CRUZ COIN
The Several Million Dollars
Collected in Customs Not to
Be Turned Over Until Later.
Washington.—The United States will
hold the several million dollars In cus
toms collected at Vera Cruz until a
stable government 4s established In
Mexico and will not turn it over to
the French bondholders.
President Wilson said today the
money would he delivered to neither
faction In Mexico under present con
ditions and indicated that, only a gov
ernment recognized by the United
States would receive it. He felt that
responsibility for which faction gels
control of Vera Cruz after Its evacua
tion by American troops does not rest
with the United States. No confirm
ation has been received of reports that
Villa had promised to leave Mexico.
TO WE ID
URGE;' NO ID
Resolution Attacking Unaffili
ated Unions in Modified Form,
Passed at Labor Federation
Convention.
Philadelphia.—The resolution which
Samuel Uompers, president of the
American Federation of Labor, at
tacked In convention yesterday as a
declaration of war on the railroad J
brotherhoods and other unaffiliated i
unions, and which was re-committed
to the committee on organization, wasl
again reported today in modified form
and adopted. Instead of instructing
the executive council to organize
unions In those organizations which
refuse to affiliate with the federation
the resolution was amended so as to
Instruct the executive council to "in
vite and urge” all unaffiliated national
unions to Join the federation.
Heavy woo! ghlrts SI.OO to $2.50, all
shades. See them at Mertins.
tuhtloose
REGIONAL GASH
Washington.—Plans for Increasing
the wealth of cash and extending the
operations of tbe twelve regional banks
Were before the federal reserve board
today, as telegrams continued to ar
rive, telling of ihe successful opening
of the institutions. The board of of
fldnls had asked for reports of the
rediscount business done by each hank
and observation of the first week's op
eration of the system may result In
augmenting the bank’s cash by more
than $150,000,000.
The j.lan under consideration Is the
transfer to the regional banks of much
-of the loose cash in the treasury and
most of the government funds deposit
ed In national banks. Secretary Mc-
Adoo has not yet determined to maka
those changes, but If the first week's
business shows that the banks could
employ more money probably the board
will suggest that he act.
A 8 COMMERCE RAIDER.
London, S: 19 a. m Dispatches stat
ing that the German auxiliary cruiser
Berlin has appeared st Trondhjem, a
seaport of Norway, probably Indicate,
according to the Underwriters, that
she is endeavoring to escape from the
North Sea to act as a commerce rai
der, •
10 per cent off on lists, Glovts,
Box, Underwear, Men’s Pants. Boy's
Butts and Pants, etc. F. G. Mertins.
RUSINESS MEN OF AUGUSTA SAY THE
WAV TO MAKE BUSINESS GOOD HERE
IS FOR SOME COTTON TO BE SOLO
Augusta Now Has 140,000 Bales in Stock, Worth $5,000,-
000 at the Present Prices. Only One Third of Cotton
Received Has Been Sold.
SAY COTTON A YEAR FROM NOW MAY NOT
BRING ANY BETTER PRICES THAN NOW
Claim That If There Had Been No War and Price, by Reason
of Enormous Yield, Had Dropped to Eight or Nine Cents
Would Have Been Same Cry Raised As Now. Sell Some
Cotton and Business Will Open Up.
That cotton should be sold bf people
who owe money, and there are few
who don’t owe it, —is the belief of
many cotton men and merchants of
Augusta. There are also a consider
able number of farmers who believe
in this idea and they have sold ail, *>r
large portions of their crops.
A prominent cotton man pointed out,
in a talk with a Herald reporter, that
the real cause of the depression as
not so much the fact that cotton Is
low but that little of it is being sold
and very' few people are paying their
obligations. This gentleman said that
if all of the cotton now in Augusta and
territory adjacent to Augusta was sold
at a figure around eight cents, busi
ness conditions would be about as good
ns they were last year, for this year’s
crop is much larger than last year’s.
It will he recalled that with a goo'i
price for cotton last year much money
had to be used in payment of debts of
the year before. However, last fall
and winter were considered pretty
good by the business community.
Augusta has received over 200,000
bales of cotton this fall and has sold
about one-third of It. Last year tehe
had received about the same amount
up to November 15th and had sold
over two-thirds of it.
Over 140,000 Bales Here.
There are more than 140,000 baled
of cotton in Augusta right now being
held, presumably for higher prices, an I
it is the judgment of prominent cot
ton men and bunkers and merchants
that if this cotton was sold conditions
would be better at once and the de
pression would largely disappear. If
this cotton was sold $5,000,000 would
be turned into the channels of trade,
assuming that the cotton would bring
as much as seven cents per pound on
the average.
Augusta will get 200,000 additional
bales or more (luring the remainder
of the fall and winter and at. $.”.5 per
bale, or seven cents per pound, this
AUGUSTA’S INDUSTRIES ONDISPLAY
MAKE SPLENDID SHOWING TO DRIVE
HOME PRINCIPLE OF LIVE AT HOME
Exhibits in Broad Street Windows Are Interesting and Instruc
tive, Farming an Industrial Exposition Worthy of Serious
Attention of All Augustans Product-; in Wide Variety to be
Seen.
Among the nuSo than three dozen in
dustrial displays of Augusta industries
In the show windows along Bread street,
not a one that is not Interesting , and
sonn- that are Instructive the whole
serving to convey as nothing else could
the meaning to Augusta of her slioi s
and mills and factories, and to impress
upon the buying public the practicability
of Living at Home.
The first, automobile tire made In Au
gusta Is to he mcn In the show window
of A. (j. Rhodes K Hon Furniture Com
pany. It was made by Augusta’s new
est manufactory, the Southern Tire &
Rubber Company, which has Just com
pleted a p'ant here, which with its
equipment represents an investment ol
$75,00(1. "Made In the Land of Cotton.’’
the trade-mark, appears In raised letters
on the tire- it non-skid, 8 4x4. This com
pany will begin within the next few
days to manufacture automobile tires of
all sizes for th market. A statement
made by the Southern Tire & Rubber
Company in connection with the display
Is to the affect that If all aulomohlllst*
of Angus® used August '-made I|r-n,
$100,040 that now goes away from Au
gusta annually would b* kept at home
Another New Industry.
In the show window of the Green &
Horsey Drug Company a most, interest
ing and Instru-tlve exhibit Is made by
the Magno a Film Compuny. makers of
moving picture films. Nine thousand
feet of film made In Augusta, of Au
gusta scenes and views, are shown, and
In addition, a heaver hoard mat on
Which are mounted pictures showing the
evolution of the moving picture Indugtrv
—from Edison's fAst studio lo the mod
ern studio with Its modern producing
and developing plants Unexposed nega
tives, developed negative# and a finish
ed picture are likewise shown. The
Magnolia Film Company, which ,s own-I
and operated by Augusta peopt -. .Makes
moving picture films hare In Aug'i'r'.t f'»r
educational Industrial and -om- r-'.il
purposes, and expects (fitter to l-rotl'lC*)
moving plitnre plays,
Pooular Thirst-Quenchers.
Crowds have been attracted by the er
nlblt ot the Chero-Coln Bottling Com
pany, in the show window of the Stand
srd H tonic Hhoe Company’s store A
Chero-Cok, bottle suspended In the air
foitns a pSpetuolly flowing fountain, the
liquid pouring Into a gloss which never
fills The background Is mad- up of
a speculative number of bottles of
C,riero-Co a and advertising novelties of
she company. In fact, ladtl-s of f’hero-
Col ■ fill the window, and two prises a
handsome ladle offered hv the Chero-
Cola Buttling Company and s pair n!
shoes Offered lo 'he Standard Sample
Hhoe Company, will b* given away at
the end of the week.
Another popular thlrsl -quencher -
Rltidwlne made by the Ifludwlne Hot
t ing Company forms sri attractive ex
hibit In the show window of the Men
ter Company. This company will also
give swsy a prize. $5 00 In gold, Rt the
end of Live at Home Week.
At C. D. Kenny’s store the Augusta
Brewing Company makes a display of
thslr products Bell- of Oeut'gls, Double
Brew, Malt Toni-, Aubrew-o and Up
per Ten Glnget Ate
A Novel Exhibit.
Dhutrstlng the use of elscttrlc pow
er the Augusta Vlkcn Railway K Elec,
trie Corporation has demoted one of the
show windows of Its Broad Street offl-s
to-an exhibit that Is novel, A minia
ture factory has been constructed from
msehanloil to ye. the wheels of which are
driven bj a 1-60 horsepower rnot'R - , A
1-80 horsepower mote la also shown in
th» window together witli an electric
peculator, an electric tosstsr and an
would mean the turning loose of $6,-
000,000 more. The 65,000 bales already
sold averaged seven cents per pound,
which amounts to about $2,250,000. The*
total value of the cotton Augusta has |
and will receive, at present prices, is
between $12,000,000 and $15,000,000, and
business men say there would he no
depression if the cotton was sold, and
even if half of it was sold there would
be very little depression.
Say Sell 50 Per Cent of It.
In answer to the argument that if
all of the cotton was sold the prices
would go down to 5 cents per pound,
the cotton men answer that if only
60 per cent was sold it would be an j
enormous help.
Leading Augusta bankers and bush;
ness men constantly refer to an inter
view in The Herald of recent date
from Mr. E. K. Boisot, vice president I
of the First Trust and Savings Bank |
of Chicago, who advised that the far
mers sell their cotton and take their j
losses, or at least sell enough to pro
tect their creditors. Mr. Boisot said
that few people calculated the coat of
carrying charges, lie said there was j
interest, storage, insurance, decrease |
In weight, etc., to he considered and j
with no guarantee that one year from j
now cotton will bring any more than!
it is bringing now. He said do not |
let this year’s crop pile up on next
year’s crop, adding to the already large
surplus. The duration of the war is
so indefinite, argued Mr. Boisot, that,]
a year from now may see cotton at
the same price as it is now, or lower.,
Cotton men say that If there had 1
been no war and cotton had dropped
to eight or nine cents because of the:
enormous crop this year, the same cry I
of hard times and business depression
would in* raised They also contend
jLhat times would not be so hard now
if the people who owe money would
sell their cotton, or at least a half of
their cotton, and apply the money to
the liquidation of debts.
electric flat lion. ’’Do It Lie tvh ally"
Is ilie slogan In cc-trl-aly lighted Id
lers In Ihe background.
Cotton Mill Exhibits.
The hundreds of people in Angus's
who know only In h general win that
cotton goods are manufactured I" Au
gusta and vicinity will do well to visit
the displays of-products of four Augus
ta cotton ihIIIh shown Iri the windows of
the J It. VVlilli) A- ' 'ornp" ay Depart
meat Store, which enl-rprlslng and pvo
gresnlve concern has with the proper
co-operative spirit, given over most of
Its display spue- in the handsome show
windows to exhibits of Augusta-made
goods licit* ths products of the Grun-
Itevl Is ManufHct"!lng Company at
Granltevllle and V.m-h c. H <’.. tin
l-Hirgley ManufactuVlng Comp; ny, at
Langley and Bath H. Ihe Fdilerprlso
Mill and ihe Hlhley Mill are shown.
The Hioley exhibit Includes Augusta
mad- she-llng. Whipcord, ratine crush,
shepherd checks, drills, cheviots, colored
goods of a wide xurlety arid paper fif
ing novelties. Grey and finished goods
Ihe goods as turned out by the mil's
and the product ifter tt Is finished In
mills In the blast - ape shown b\ ihe
Granltevllle Muniifu-lnrlng Company.
The Enterprise Mill exhibit* In-huh-e
homespuns, drills, sea Island all heavy
goods.
The bnng.cv Manufacturing Company's
exhibit--of AugtiNla-made products after
they huvo been finished In the K st- Is
of n wide vsilety. Including a number Of
A Sure Winner
The man who sees the days ahead and
provides for them; —the man who is not
caught nappinK or found wanting when
Opportunity comes;— the man who has
ready money v/hen needed; —the man
who SAVES, is the man who will win
crut In the end.
A few dollars deposited in this bank
every week will give you confidence and
enable you to meet success half way.
Open an account today and be the hus
bandman of your own fortune.
samples which are attracting attention.
Some very pretty pieces are shown.
“Get the Habit.”
"Get the Habit” is -the slogan at the
O a onnoV-Schweers Taint Co., whose
windows are this week given over to
displays of Augusta-made paints and
A ugusta-made mantels.
At the store of L. P. Speth one targe
window is given over to exhibits of the
South Carolina Pottery in North Au
gusta flowers, jars and jardlnerers of
all sizes and variety—and of the Au
gusta Broom Wtfrks—dozens of Augus
ta-made brooms to meet any house
keeper's requirements.
At the monument the Georgia Vitri
fied Brick ('lav Company makes an
exhibit of Augusta-made sewer pipe. In
the window of The Herald office op
posite the monument, the seme concern
shows some of their Augusta-made
brick—paving brick, five brick, chemical
brick, cupola and block brick.
To add a touch of real beauty and to
blend the artistic with the industrial,
the floral exhibits that of Stulba’ Nur
sery at Levy’s. Balk’s Nursery at Mer
tln’s, the Boatwright. Floral Company at
the Richards Stationery Store, Central
Garden at Andrews Brothers—have
elicited mans 1 exclamations of delight
from the hundreds of* women -and men
as well, but particularly the women who
perhaps can better appreciate the most
beautiful things-who have made the
rounds of t.hc exhibits.
One of the many attractive window
displays of Buy-at-Home. Liv<e-at-
Home. Made-nt-Home Week is tbit of
Tant & Co.. 629-31 Campbell street This
flVm handles a superior quality of fresh
meats, bought at the Augusta Stock
Yards, killed at the Augusta Abhatoir
and sold under government inspection.
The sausage department is open to in
inspection and al! Augustans are cordial
ly Invited to call and see the exhibit of
fresh meats, etc., shown in their front
window.
These exhibits here mentioned fovm
only a small portion of the industrial
show. Attention will be called to others
in tomorrow's Herald. But of course
everybody in Augusta who has not al
ready seen them Is going to make the
rounds and view them all.
BIG FIRM SAYS
COLLECTIONS OF
INTEREST GOOD
That interest on farm loans ts being
collected In no excellent manner and
that the farmers have come forward
promptly in most instances, to pay
their interest is the statement of Al
exander-! ioorlwtn-Duvall Co., repre
sentatives of big loan companies, both
domestic and foreign. Information
from other lenders of money on farm
lands Is also to the effect that the
collections have been good.
"The farmer who owes money and
the principal of which is due this fail
is not asked for it,” said Mr. H. H.
Alexander, "but we, of course, expect
interest on nil ionns paid and It la
bring made In a most gratifying man
ner. which Is a good indication that
business is not nearly so bad as some
people picture It. Our books of farm
loans ar< remarkably clean consider
ing the alleged business depression."
Alexander-Goodwin-Duvail Co. hava
over $6011,000 loaned on farm proper
ties In Ibis section.
HOTEL ARRIVALS
Hofbrau Hotel.
Mr. and Mrs. \V. A. Wooten, city;
iJ. L. Tteynohlf, S. U.; R. E. Rey
nolds, B. c\; T. Amici sou ami wife,
N. V.
Plantcrc Hotel.
...I. McCllnche, Gu.; B. II Harper,
Edgefield. S. N. H. Riley, Bos
ton, Masu.; I . T. Palmer, Langley,
hi. C.
Albion Hotel.
VV. B. Howard, Va.; R. Hyrtch,
N. t’.; J. It. Watts, Atlanta, (Ji.;
.1. E. Earle, Chicago, 111.; M. M.
IbiplUns, Savannah, Ga.; VV. G.
Sli"ldler, Savannah, Ga.; A. H. C’od
lngtcr, S. c.; c. Thurman, 6a.; B.
A. Itousel, N. Y. ■ .1. Twler, Ga.; J.
11. Gurtnuny, Gn. ; E. S. Moore, At
lanta, Ga.; A. VV. Johnson. Atlanta,
Ga.; A. VV. Johnson, Atlanta, Ga.;
K. E. Fond, Columbia, S. O. P.
Chandler.
Gsnesta Hotel.
H. J. llnhn, I’a.; .1. S. Kennerty,
S. I’.; Miss C. Mush; Miss K. Mass;
Mlsa T. Reid; O. T. (lacker, Atlanta,
, Ga.; P. N. Humphrey, N. C.; J. TV.
h'owlke, Columbia, H. t'.; W. E.
' Jones, Ga.; H. Latte, Ga.; T C,
[crawford, Ga.; L. P. James, Colum
bia.
PUza Hotel.
F. F. Tcnn, Atlantu, Ga.: G. B.
Bunks, Os.; H H. Btcclbrldge, Ga.;
G, bJ. Dickson, Ga.; L. A. Lrhrull,
Ga.; C. Clayton, G.; Mrs. VV. Gclsen,
N. .1. ; Mlhs M. Jones, N. J.; G. A.
Seymour. Atlanta. Ga.
The following gentlemen are attend
ing the IJ. S. Court here; Messrs.
Charles A. Akerman, Alexander AWer
niun, John C. Heckle, E. H. Colley, J.
S. Davis, Cook Clayton, K. L. Riley
and John M. Booker.
SEVEN