The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1906-08-10
FOUND HIM GUILTY.
NEUTRALITY-SUSPICIOUS., OF THE
COTTON ASSOCIATION,
Convicted of Specializing In the Cot.
ton Futures Under Fictitious
Names.

ton Futures Under Fictitious
Names.
While the Georgia Legislature had
under discussion q bill to exclude
tho bucket shops from that state,
Representative ~. r. Anderson, OF
Chatham County charged In a speech
that some one in the head Quarters OF
the Southern Cotton ASST citation had
been specializing In the name OF Mike
|O'Grady, and signing the CHECKS or
receipts for the money in an cfioial
capacity; and that some n in there
had been specializing In the name of
p A. Lee.
Hs also charged that some ofloial
Of the Southern Cotton association
had been connected with q bucket
shop called the Piedmont Brokerage
company, and had held one.eightb Of
its stock, and that some ono In the
Cmce of the Southern Cotton assoNtE.
tion had had stock standing In his
name. I'll
Mr.. Harvie jordan, the Rrosident
Of the Southern qbNen Association,
at once tuck the n~f9HfStESup and ap.
pointed q committees to Investigate
the ohsrges. Ts reqIeSbsae Mr., An
derson to appear before the committee
and name the guilty men,. This MI.
Anderson very oheerfully did, and the
result shows he was right in his
charges. In giving the not Of the
men who had betrayed their trusts as
OIL 5ers Of the Association, Mr.. Andel-
son said:
"As to the charge In regard to the
carrying on Of speculations in cotton
by an officer Of the Southern Cotton
association In the name of Mike
lO'Gtady and in the name Of p. A
Lee; the officer 1 referred to In this
charge is Mr.. Richard Oneatnam, the
secretary Of the association.
AS to my other charge that some
| official in the Southern Cotton assocl-
alton tmce was connected with the
bucket shop called the Piedmont
Brokerage company, and held one
eighth Of its stock. The person l re-
ferred to In this charge was Mr.. ar
thur A. Fairchild."
After thoroughly investigating the
mstter the committee submitted It's
report last Thursday afternoon, in
which 1t expressed It's STRONGEST dis.
approval and condemnation'' Of Rich
ara Oheatham, secretary Of the South
err Cotton association, and an officer,
for the dealings he made in cotton
under the names Of p. A. Lee and
Mike O'G.radY, and also Of the fact
that Mr.. Cheatbam had put the word
secretary after his SIGNATURE on the
checks with which he paid his mar
gins.
sItma5e. the Same rule. apply lt0SArs
thur "A. Fairohild, the publication
manager Of the Southern Cotton 1880
citation, who had owned an eight in.
tereat In the Piedmont Brokerage Co.,
although the report stated that Fair
child was an employe and not an Cfa-
Ger Of the association. This report
was sent to President Harvie Jordan,
and by him 1t will be sent to the ex-
ecutive committee for action, the
committee meeting In Hot Springs on
September, 6, Z and s.
The report first discussed the mo-
tives leading up to the investigation
and declares that the witness who ap-
peared against the association with
one probable exception we're interest.
ed In or employed by wire exchanges.
1t says that no move Was made
against the association until July "a,
when the Boykin anti. bucket shop
bill was in the house, although the
transactions In question came up In
March.
1t says also that the charges
against Cheatham is the strongest
reason for the abolition Of specula.
tion. 1t holds, too, that it can see
no d ference between legitimate ex.
changes and bucket shops, all being
~ruinous to the country.
1t declares also that while there Is
no law of the association against tm.
GERS Of 1t dealing in futures, 1t con
demns In the strongest possible terms
such action by It's Cheers or employees,
or who may own an interest In buck
ct shops.
mr.. Richard Cheatham," tho re-
port resumes, 1.-THE secretary Of the
Southern Cotton association, having
admitted such dealings In cotton fu
lures for Mike O'Grady and P. A {.
Lee, comes under this rule, and such
action meets our strongest disapprOv-
al and condemnation.
Your committee further finds no
reasonable excuse for the use by him
OF the word secretary after his name,
but believe 1t to have been mislead-
Ing and to have worked wrong against
the association.
This meets the same disapproval
| 40 thA r. a hnun axl vn ,l,1,l1 1881.
the same general rule to Arthur A.
Fairchild, although he Is not an OIL
Cor Of the association.
Believing that this committee
has no further authority, this report
Is transmitted to you for transmission
TO the executive committee which
meets In Hot Springs September 9th,
7th and 8th for action"
Two Negroes Lynobed.
Iphn D1anI1 ool UUII raj, -