Newspapers / The Daily Advance (Elizabeth … / Sept. 5, 1925, edition 1 / Page 1
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f W ashington Seems Pleased At Prospect Of Caillaux's Approaching Visit to U. S. Ideu in Admini*lrtitioii Circle* U Tltal French Minister Finance Would Not Oihip to Anirrira I nlc*> lie Bi lifved He Could Meet American Term*; Hope Ih Ifli^li for Settlement in Next Three Week* IJy DAVID LAWKKXCK ICMitniiit. ItU. tu Tf?* Adtimi Washington, Sept. 4.? There is no concesiliiiK the satis-; I faction felt here that M. Caillaux, French lfiinistw of I'm - anee, and a delegation fully authorized to negotiate a yettle ment of the French war debt will be here within a I'ortniulii Until the definite announce-' nient of M. Caillaux's coming was made, officials worn skeptical about the outcome o: the negotiations. They reasoned 1 1 1 :i t |f |?, flH( not com** it was bKaiiHf ri , I . was Utile chano. 01 -...i , ? Blent. Now that In- I* r, In In u|ii. ? delegation ?r Influential 1,1. r, b*r? of the French |>urHaiiit'?t . *k " " thai will,,,, the next three weeks. H?. i Mates and France will have erased from 'he boatds their ?landing diplomatic problem whirl, has been afr.-ciln* relation* for Several yearn. The s. til,, tueuta With the smaller r?i,ntrl are expected t? fo||uw ter or course folitlrallv 1 1,, . have not b?-en disturbing. The l. probi. hi iiaH been |.',unct. Entirely aimrt from the term, of the settlement, the adiulnlatr., tlnn is counting upon certain te suits in an economic us well as u diploma tie sense. Opinions nrev differ as to whether Krone- ulti mately will pay all that she piom wh*ther she will nm p. - riodically ask for a ? revision of <?"?* but there seems to be no doubt that once the settlement is reached, the American Govern ment will prove Itself even nnx> ?ympathetlc in the future than it has been in the past^to the uiuv llon of upbuilding Kuropeun lln ances. No ban will be placed <>;, foreign loans to be floated by pri vate bankers here and every en couragement will be Klven to the use of American capital to help commercial enterprises abroad The American money market I eager for some Rood lhv.Htm. nts and the needa of the United .Stat - have been fairly will absorbed. The surplus of capital i? si . kin ; ?\ use. and that is expected to be ound in Europe. Behind the settlement of the debt question, therefore, may be said to be a deliberate policy of the Government to biin* about an outlet for Amerlcon investment, ir Is felt that Just as the Dawes pla fended to stabllze credit condi tions abroad, so a settlement M the American debt quest ion will be followed by somewhat slniihn settlements between the Allies themselves so that all countries will give a clear Idea of rutin.* obligations and the Investor s ap prehension will be to a large ex tent. removed. The next step in the evolution of the Government's foreign pol icy after the debts are settled is to urge a reduction in armament/ Mr. Cool id Ke Will be arguin* econ omy with the coming session of Congress here, advising large cuts la the expense* of both the Armv ?nd Navy. European disarmament conferences have been proposed from time to time, but Mr. Cool Mfe has felt, as have Secretaries Hughes and Kellogg in the J)e H?1?"1?."1 of fltate, that if would i r,,tlle to tackle the question se 22? J?a" ,onK ** interallied debts f a the security protocols were nsng ng in the balance Amei' ..??? ?f,or ,hp ! Hi. I W1 exerted In 1 1... di rection of conferences that wili Lni BO,v,nR ,he ?rmament prob M AS COI/ORED, IK Hi DfU>\V\ ? *lV)1rn Brn">?". colore, I. In dieted for stealing a brown dog answering to the name of Brown **? found guilty and let off with on that he return <??? <? l"l? rightful owner I," recorders court Saturday. l.ET Ydl K PA PEN Tlie Ailvm?r? In exceedingly ttrtMfi lo get lOO per rmt de ll*pry aenrlce from It" cnrrlrr* ?M NpArt'N no effort to nttnlfi thnt md. Iinlrflnlli' report* hnve "?fhwl the mnmiRcnirnt thl* week (hut on certain orrn?dnn* n number of rnrrler* Iwv fulled (o mnk?> i ontplH <- Iv o* their mHirN> Thta enrnrstU re wry raWrll.fi who mlnmrn hi* pnper not only In r r wort hi* own fallarp to twelve hU paper hut the hllnrr of nnt neighbor to do no. Only by mmc ?tirh ro-operi tlon rnn fnllnfta In dfllrrry be kf|>? down to Infrequent or erwl#eht* .No currier who de liberately full* to tftke ? pn|irt to * ruMfontrr In wanted In Tlie Advance rnrrler eorpfl, it ltd inch undeNlrnble* will Ik quickly weeded ont If dellh MUte delinquencies are prompt |, ff report ed. ?MODERN SCHOOL PLAN PROMISE!) IN- PERQUIMANS Platoon S) -trill, Iniiovu* timi in Tlii* Srclioil Kill SurcrHiifiil KUrwIifn'. iVoluililv to III* \llo|t|?'<l fieri font. *1 i SiH'f l?l i ? 1 Something brand in w in educa tion in Ntirtlnuiiit'i'ii Carolina. I lit) II till il IliiH l???r|| 1 1* l? -ct oill HUC rmfiillv in ?? vtTiil of il:- largest i*il l'"H of I he Slate. and elsewhere throughout tlx* country. Is planned , for Perquimans County liy Kdgar Huiidy. recently < | superin tendent of schools. This 1* n plan .whereby a school of a glvin Bi*e ? chii accommodate 'J*. pet rent morp pupils i hun under the system in vogue in thin section now. and ln? : sides can put in music. art. physl leal ??duration and many branches of vocational training all at the .name price an at prcHcnt. accord i in K to Mr. Ituudy. e\cepi tin* a .'small initial outlay for eqnlp i ment. Mr. Ilundy come* to Hertford after five years at Wilmington. | which for several yearn ban, hud u school sy tit em that has attract I ed more than State wide attention. He was, In school work there, and thereby Is thoroughly familiar I with the modernized system which i ? he purposes to Install in Perqnlm uns. li Is called tli<- platoon ays ; tem. and has been in operation tin re for two years with surpris ingly successful results. It has In en adopted In Durham and Charlotte also. Ciact leal Subject* , Under the platoon Hysleni. tho cliihl is given Inst ruction in enr ' pentrv. mechanics, printing, and , fundamentals of t-lcctrical cngt nccting and n variety of other practical subjects, along with spe cial courses iu such suhjecls as | good manners and appreciation of I the liesf in literature, jirt nnd mu sic. lli? gHs the usual lhr?e r's as well, of course, and has an op . port unity to tJike foreign languag es. higher mnt hematics and the other college preparatory sub-' j Jects. ' Tho platoon system Is an ur rangcnieni whereby the 'element 11 | ry school makes Iht fullest pMftl i blc use of ils facilities. The nudite I rlum. instead of belnu utilized on- 1 j ly for perfunctory opening cxer- ? I c lies In Hi- morning and occa : sional special events, is occupied j all day long every school day. A physical 'training lnr-tructor. on the playground or in the gym. al so Is busy all day long. The chil dren are divided into platoon*, nnd move from room lo room as their study hours change. Mr. Dundy says lie does not ex ! P**<J w install the platoon system in 'Perquimans County this term.' but hopes to put it in next yi ar. | after the propf r groundwork for 1? has been laid The experience of Hetroit. he points out. proves the value of the *yst< m l>? irnll tirni us* d It'ln six ? schools iu and ny 192S-S* the plnn had been adopted in 51 school* tin re. In connection with this new system. Mr. Hundy. hop. s to reor ganise the Peril iffrnu ml County schools on the iunior senior high 'school plan, whereby six years [are devoted to elementary educa tion and idx years to hlgh; school. Instead of the present arrange ment of Beven clement u i\v mid four high school grade*. This facili tates the teaching of many pracil ? cat subjects, and b ss? ns the .abruptness of the chnng** from ele mentary to high school. New Heftool Keiitli I'eHfulmans this year will bring all Its high school pupils jo j h* ? newly erected county high school lust outside Hertford, on tho State Highway to Kdenton. Sev en motor trucks will be used to transport thtoo living outbid" Hertford, the longest haul being about I "? mlbs. All high school pupils In Hertford will attend there also, the present city high school having been turned 'over to the elementary grades. The Hertford elementary school will , open next Friday, and the high school the following Monday,; : September 14 Prof. W. J. Taylor, of Ruther fordton. will be principal of' tho; high school He la a graduate .?f{ the University of North Carolina nnd has taken special work st , j Pea body College. beat known I 'teacher training Institution In the WHEN SHENANDOAH CRASHED Here's closeup picture of ihc middle xect Ion of the giant ship Blw-nandoRh. taken shortly it f ???!? rr;isln-il t:? the ground near Ave, Ohio, early Thursday morning. resulting in the death of 14 men. Tin* steel girder* and network of Htiel supports w?-r<- crushed. Score* of farmer* aftd low nsfolk. *??? n in the picture, rushed to the scene of riisuster and assist'.l in disentail glhr: the dead and the injured. Thl? exclusive picture was rushed lo lliin city hy auto, airplane an-', fast mail through up- rial arrant* merits made hv SKA Service and The Daily Advance. FIND BAROGRAPH OF SHENANDOAH Till* Will I'roliulilv Aid in ! Determining tin- Oaiwr of llie W reck IDr T?i? fmil H! t.KI.EH l\ UK; FELL IV PIECES Caldwell, O., Sept. 5. ? It was definitely deter mined today that the diri gible Shenandoah buck led in mid-air and separat ed in parts before falling to the ground. Approval of a tax Irvv In suffl-j elf nt amount to moot whatever' deficit Ih duo through formation j of Newland Drainage District No. 1. the levy to ho fixed by the', board of commissioners of the <11# trlet. wan granted by Clerk of the Court KrneHl I*. Sawyer at a apo dal hearing on the matter In the courthouse here Saturday morn-; lug. Mr. Sawyer presided over' the hearing, and his action was In j response to a petition from the i commission. This In the latest move In the. controversy that has raged inter mittently ever since the establish-! mcnt of the drainage district, and \ comes as a setback to property: owners of the district who oppose! the payment of any claims other! than those admitted by both sides' to be due. This .opposing faction was rep resented by Khringhaus K- llall. attorneys of this city, whose cli ents deny the validity of certain claims alleged in the petition to be due. Thny Insist that such claims he adjudicated by the court. Among the disputed claims is a bill for about $(>.000 for attor ney's fees, and an Item of $3,000 which represents the difference between per value of the bonds ? and the amount actually paid ov er to the drainage commission for' them. The bond Issue wus In the amount of $60,000. and the com mission received $ ft 7. 000. A provision in the law under! which the bonds were Issued or-, dors that they be sold for not less i Mum their par value, <>r tin- fa ? amount for which they were Is sued. The commissioners contend I that the bonds actually were sold j at par. and the $3,000 represent ed costs of printing, establishing j the validity of the bonds, and olh- 1 er expense* incident to dlspf/itig of them. The opposing side. ever, hold* that In failing to . celvo the full face value of the bonds, the commissioners violated the law. and are iiersonally llahl for the $3,000 difference. It Is argued also that the attorney's fees were excessive. Walter I Cohooti. the attorney j in question, contends vigorously, that a $1,000 fee under the Clf-j cumstancos was not excessive, in-' as much as It was fhtt 10 per cent 1 of the total amoAm involved la the transaction. '$fiff.000. . The members of pr'r<':ht ! drainage commission are: ' J N. Williams. ? chairman. I), s. Jones and W. A. White. Thev are rep resented by Aydlett & Simpson and C. It 1'ugh Mr Williams will retire from office October J at the expiration of his term, and wjll be succeeded by J. It Hrlte Evidence of the Intense Interest over the drainage controversy In Newland township was forthcom ing Saturday morning In the clr-I cumstance that more than loo ree-j Idents of the township were pres ent at the bearing. ctrrro* mamkici New York. Sept. ft. ? There will be no cotton market report . today or Monday on account of holidays. i inow York, Sept. 5.-^-I?ven- 1 ligation of the wreck of the I Shenandoah is lieing contir- i ued today on the scene at Caldwell, Ohio, hampered by the fact that curio seeker; have looted the debris. C?l4w<-ll. O.. 6. Th. much sought barograph mid rcc- j orda from t lio Shenandoah havei been found and may aid naval ? authorities In dptrrmlning tit": cause of the wreck. The barograph was located at ; Cambridge and the log sheets therefrom a short distance away. They were In the hands of sou- J venlr seekers. Authorities hare not yet had ? time to check u|> th" rending of j tin* barograph record. The record is to bt* photograph* d and en- ; larked so the authorities can de tormina the altitude1 of the Shen andoah during the storm and he- 1 for<* the storm. The haroKraph record will show air pressure, atmospheric moisture and temperature and will al*o( show how rapidly the alilp rose in, Ihe buffeting of the wind before; buckling. Washington. Sept f?. Tlie hod I ie* of Coniniand^ r l.anndowne ar.?l Lieutenant I^awrence and Shep-J pard were brought here today un-j der naval escort and carried l??j Arlington to await hnrlal. WashliiKton. Sept. f>. Secretary . Wilbur will take up with the At-' torney General the question of vandalism at the scene of the j wreck of the Shenandoah in Ohio. South. This year Mr Hundy says h" Will lay v per la I stress on h?alth and ch-antlness. and will make ev- ' ery effort to hare a county nurse employed to no from school ?o school and examine the chlldrt-u. and see that they receive proper treatment for ainr defects found Me also wants a physical educo tlon supervisor for the county, to work in all the schools toward helping the children become thor-j oughly fit physically. -In cohnectlon with his plana'fon vocation*! training Mr Bundy de clares he will a** lo install a: course In prat?tlcal sntrtculfun* ' st retina Instruction In such sub jects an the analysis of soils snd : various types of fertilisers. Pra in age Com m ission Wins Round in Tax Fight Route 30 On Highway Map '? \w.uml Kmilr :*o Hill Im* iimi-knl. thank* tn ??f. umk or Snuilur Sim mon-. Il?? Ii?iiik< Moinln>." . 1 ho foiruiiliiit rcli'unini ua> riDin Srirtjny J oh, or tiio < IihiiiImt of ( 'olllllHTf i', Snlnr?la\ nioitilnu h> l>r. sjuu iicl II. 'IVmplcriiMii, %!???? ?l?*nl or (lie I "hniulwv-. Mini an IIOIIIMTll till* Hlt< < ?"-.* I'll I INIIrOIIII' or ii (lcl?*i iiiIimmI ?-:iiit|uilioi to 1 1 1? \ ?? th?* n?n?l In ifiii'Hlloii |?lin r?| ? In' Nutiounl MIkIi win iiuip. Ho- tillllc of MO ik^lKIUltlllC llouto MO l-? through I In- riu l tKiil thmb) It III Im* mlhl t'? Mm* ntt?-nt Ion or motorists In otlin- Hlnti's plnmilnu til|* South. ii ml l?t (>?|NTtHl to ItrliiK miiny visitor** to till* Mrtkni who nthmilM' wotihl ih'ut h* \ ?? known of tin* ?*\l*(t?*iH-<' or UiIm mmkI. OUTLOOK BRIGHT FOR ROAD EVENT Preparation* for KHr.ftbeth Ci ty'* hlggoat alngle day'* celebm tlon. ? ?> ho hold Thursday. Hop tern her 17. In connection with tho formal opening of the new State II Ik h way aero** I ha I)i*mul Swamp from Galea Into PMqBOtink Comity, are go I ilk ihna<l rapidly I>r Walter llarrlH. chairman ?? f tho program committee. announ ce# that he hua completed nr rangenu-nl* to have tin- Southland Jubilee Singer*. popular company of eight colored entertainer*. her** for tho day. - * Tho Jubilee Singer* aro wtatod to arrive hero at 10 o'clock on fho mornliiK of tho celebration. They come front Norfolk, an/1 are much in demand on gala occa*i?xf thoro. Arrangement* dill an* utid>*r w;i? to have the Navy Yard llaml hero for I h ?? i fit-brat Ion. and if pCMWf* bio to hiiv.- til I* till v.i I ,i ii' li'.rp Ji- 4 ?end down a dirigible for" tho event Meanwhile. tho raiding of fund* for the day 'a event* In proceed* In* Tho general committee In charge of preparation* for the celebration ha* been a*kod to meet Monday night *t 7 an o'clock ?I the rhamber of Commerce to dlacu** a variety of Important de tail* of the celebration. It I* propo?ed to nerve a bar be cue to the thouaand* of vlaltor* from (}ate* County and ol*ewherH expected h?>re for the day Th? r? will be an extensive program of brief apeechea. with concert* hy the Boy*' Hand and other enter (?lament feature*. The program will be given on the courtfcoune grofcnd* and In order to 'a**uro that there will l>e plenty of room for the crowd, the atreet* adja ceat to the ground* will In* roped off to prevent Interference by traffic BRADFORD TRACT BRINGS $77,300 AT SECOND SALE <>ullup iV Sawyer, Keul Ea-| I ill f Denier* Who Ituirtedj Original Offer of #70, .101), SticerxHful lti(l(lcr? ; Solil hi auction - for IIh* a?-cond ' lime Saturday al noun, I lit* D. LJ. Ilnidford Iriict In I li?* downtown] hiiioii'tm ili.-l.riff was Md in by ? ? : 1 1 1 ? ? I ? u SiiwjTr, real eat ate deal- i era. f^i $7 7,U00. The ??nly otht r iirllvn Milder for (he propt rly wan |?r. A I.. F'? |idl?'iou, hanker and, uliolt-Halt* d tiikkIhI of ihia city. | The Hal<- will remain .open for 20 ' dayH. with n proviso that another j tcaale Mill l?e held If any one rala I'M lilt' Intent hid 2's I?er Cent. Iii lie' event thai there In iti j higher hid. the rlerk of Hm court ! will he naked lo confirm the aaii.j provided II Is approved by the I ronunlKfcioiierH appointed by til" j court lo udniiniater the Itradfora eatate. Thla would clone the trHtlH action. The properly, which cnnatilutea by, far t h?* moat valuable unim proved tract In llie downtown suc tion of Kll/aheth City, originally i wan aold at auction July 27. It ? | wan hid in hy Dr IVndlctou at ! | 1 7 o r, Oil. flefore the 20-day period 1 of "grace" had terminated, how liver. I he bid wum mined 2 'u peri (???lit hv Cnllop & Sawyer. A ae? ond "ah* waa net for SatuQflay While the Miccea.Hful bidder*. i temporarily at leant, decline to dl viilfc- whether thejr arc acting for | themselves or as agentn for one or more utitalde Individuals, the | general opinion here in thai they ale hidditm in behalf of the Rob- 1 Innon and Koroma ii famlllefi, both of Whirll own Adjoining ptoper- , ti -u in IVndleton la believed fo ' lie representing. in part at least. ih< Carolina Hanking Me Trust Conipauv. of which he la presi dent The bank now occupies rented quarters in the llinton Ituilding. a block farther went on Main at reel. Whoever Anally l>? cornea owner j of the properly la expected to erect j one or more substantial building* which will he a credit to the buid- ? lie4'!* section of the city, through the eircumataiiC'- that the coat of I carrying the tract a* an Invent inenl. in Ii" prpsent unimproved slate, would excei dlngly heavy. I lite real on the money, together with in>< > and other Inescapahh carrv'ing charges, it la cHimatcd, would aniounl to al leant eight per cent of the purchase price, or about $*?.000 a year. Mitchell Ready To Be Arrested Kan Antonio. Tex . flept. S.?- 1 Predicting I hat he would tm placed under military arreal by Monday becauae of hla assertion, Colonel Mitchell, air officer of the Fight h Area and former aaalatant Chief of the Air Service, today la- 1 sued a statement denouncing the War and Navy Departments In j connection with the flhenandoah disaster and the loat of the FN-t, No. 1. Fanners Hammer Price Of Cotton Crop Down By Rushing Staple To Market AO /' tl'ER MOMH I Following the precedent wt Uw j car The Ad\ance will |?t Mic no paper on Monday, IjiImh IMy. Tbl? observance of L Mif< I >ay In not In line with \orth CamlliM imrtkf nor I* tiirrr another ilall) ncwMpa|>ei- In the Stale, ko fur a? The Ativan*'* known, iluil NtiMpend* ior this hollda). The Ailvunrc Mi>|ih out hUmic In (IiIm matter, In the llr-t place, lo rmoariKr more uciu-t ? al obaerMinrc of 1-Jibor l>a> In thin wTlkm, and In Ihf arcuti'l, UH a mark of a|>pr*cla<lon (41 It* employee, who an* entitled to a holiday. The Advance can but feel, alter sweltcrlnu throu^n the Minuiier months In a print* "hop. Following. hn It dm'N, a week-end, Monday l? a particu larly approprhue day for a hoi Iday. Neither ThaiikNKhln^ nor 4 'hrlHtnuiM, the only other "holiday* ?Wri?l b) The Advanrc, ran be rounted on to iclve Advance workers a fre?> week-end. BOBBED HAIRED BANDIT BUSY ON SWAMP HIGHWAY I'uMiuotank (bounty Hiti-i dent Halted and Hold ut | Point of Pitlol liy Woman <111 Canal Bank lioad ASSISTANCE AKKIVKS A bobbed haired bandit 1m ply- 1 Ing her trade on the George Wash ington Highway near Deep Creek. | Virginia, these dayn, accordltiK to i motorists from thin city travelliiK the road, which runs for miles tin end without paaaing humau hul l tat Ion Several report havlni; been stopped by a woman of me dium height and build, apparent-' ly about 25 yearn of uge. with, stringy bobbed hair. The latent Intended victim of| the woman reported here Ih L. S 1 Caroon, who Uvea on the Newland| Highway, about half a mile from > t h Ih city. Mr. Caroon makes dully] trips between thla city and Nup-| folk, maintaining a truck delivery j aervlce. He reported todav that on Thursday afternoon. while on j hlft way to Norfolk, he won Mopped j by the woman In ijueHtlon about eight miles before reaching Ooej Creek, the northern tertnlniiM of the road through the Oismal Swamp. The woman first asked Mr. Ca-I roon where he wan going. When ] he told her. ahe anked that he take her ax far aa Portsmouth, ex plaining that "an old fellow" had ' brought her out on the road, but 1 would not take her back to thy city. It had been raining hard, land nhe was soaking wet, her ha'r hanging Mtrlnglly about her face. Altogether, she was far from at- { tractive In appearance. He de murred, and made an though to1 Htart hla car. Thereupon the woman climbed onto the running board, drew u: pistol and pointed It at him ; "You'll either carry me to Portamouth or you'll hand over t your money to me," she ordered. Thoroughly disturbed. Mr. Ca- j { roon got out of hla car and began to remonstrate with her. She* kept him covered with the wesp lon. and warned him not to ap proach too close. At this Juncture, three negroe*' approached In a Ford tourinK car ] Seeing them, the woman turned and ran Into a nearby thicket. Mr.i Caroon told the negroes what had | occurred. "Uons, let's leave this placc, right away." one of them sugges'-, Mi and sll left hurriedly for Nor folk, where Mr Caroon reported the Incident to police. A woman whose description' roughly corresponds to that of th?* bobbed haired bandit has been oh served several llmM In the last few days In the vicinity of thin city, usually accdmpanled by two unidentified men On his way to Norfolk after Ih" attempted hold-up. Mr. Caroon was Informed by men engaged In repairing the George Washington Highway that several other mo torlsta had been stopped by a bobbed haired woman In tttUoh the same fashion. None reported having been robbed, however Po lice here hsve been given an ac j curate description, and are on the lookout for her. The George Washington High way. It Is pointed out. offers op portunities for banditry that are unexcelled In this pari of the coun try. For miles traversing the lonely reaches of the Great Ola mal Swamp, long ntretches of it are uninhabited. The one dlaad vantage, from the standpoint ?>f the would-be robber, la that It af fords few alternative routes for .i <inl*k getaway In the event that his depredations were reported be- ' for# he had reached a haven of. aafa refuge. r 1 Haute li> S. ll Haw \lrrudy Kt'Miltt il in Ui? ?'> llw4 (inmcr of SI2..>0 a Bale U> .1. r. itoYl.K lCi?>il|hl. IK't. Th? * |- Ne* York. Sept 5.- Marketing policies pursued t?y some of the cotton planters an- causing heavy loHHt's In revenue a ml purchasing power to tin* South. Some of best Informed rot ton men In tit* Industry huI<I today that this er ror In judgment is reducing mar gins of profit to the growers to the danger point without the prob ability that tin- consumers of the country will benellt by lower pric es. Planters in certain h-ectlons have been pf enning their cotton for sale. In reality they are holding their bargain sales at the beginning of the season when demand Ih at Its highest rather than at the close when demand ban slowed down. TIiIk Ih in exact opposition to the regular merchandising practice which reduces prices after the peak of the season is over to stim ulate lagging trade and reduce j carry over i - Since the new crop begun to I move, spot cotton at New Orleans [has declined from 24 cents a pound lo 21 '? and today in ouly slightly above tlo- litter tlgure. I Probably a million bale.i have-been I marketed on this decline, leaving something under I ii. 000, 000 more to bo sold sccordlng to late crop estimates. Prices a to approxi mately $12.60 a halogens than when the season opened and near ly $15 a bale lower than the av- /3 erage spot price which prevailed last Reason. These prlcos do not reflect quotations on the various exchanges alone, but indicate the exact return to the farmer for his crop. This shrinkuge already has cost (producers between $26,000,000 and $30,000,000 and experts say If the practice Is continued it may cost the South $200,000,000. Pro ducers are handling their crop4* I like so much cash Instead of as merchandise. This has been an old established custom, but thin year it has meant that some grow ers will have only a small amount on the right side of the ledger. Close students of the situation j say the Government's seml-iuontb ly crop repoits made the situation worse by drying up speculation In the future market. Merchants, exporters and splnueni who bought the farmer's cotton have bee?" nccuslomed to make hedge sale* in future markets as a pro tection. Speculators took the.ie hedges In the hope of a rise In price and profits In the winter abd spring when the spinners and ex ports bought in their hedges. Spec ulative demand In most recent years has boon sufficient to pre vent declines of consequence but last year the speculators lost mon ey owing, they claim, to the fre qunt and disturbing Government estimates. 1 There are now few speculators willing to buy In hedges and wsH for them to mature owing to the uncertainty of what the next Gov- i eminent report may do to values What these factors have done to the market can be seen from the following facts The Government report for August 24, 1924. was for a crop of 1 2.960.000 bale#. This with llnters and carry-over promised a supply of about 16, 000.000 bales At that time the spinning Industry had scarcely gun to emerge from Its period of depression and indicated mills tali ings pointed to surplus of 3,600. 000 bales. Yet spot middling cot- j ton brought 23.84 cents a pound a year ago today and did not sell j under 22 '?'? rents all season. The seasonal average was 24.27. i Mill takings and consumption ] are now running on a scale which Indicates consumption of around 16,000.000 bales. The probable j available supply based on thfc last Government estimate is 17,800, ooo Tills Indicates a surplus of 2. 800. 000 bales Yet the price to day Is under 22 cents. There ^is still no certainty that the crop will come up to estimates. The plants must still go through the period of the equltioxlal storms and the drought damage Is not yet fullv determined Cotton and corn have withered in the fields In North Georgia and part of the Carolines as a result of drought. Hoad con struction by the state t? being pushed In Georgia to give employ ment to farmers whose crops have been destroyed. The people of , South Carolina have been called on by the governor to spond Sep tember nth In fasting and prayer for rain. ? ? Southern financiers therefore 1 are urging growers not to press the sale of cotton too soon and are i aiding them to hold for more ad- ? vantageoua markets. 3 MOT UK. It noil* BAIY i Columbus, O., Sept. 5. ? ,^r": lj fCd It h Lane, aged 2?. today placed her six weeks old son In the wash j boiler she had filled with water snd lighted a Are ?nd*f I* eral hours later her husband | found the baby dead Tl?e ?u> .mlnMHHi
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 5, 1925, edition 1
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