The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-06-22
THE COTTON 'Sp|RiCY.
WICKERSHAM CONTINUES FIGHT
ON COTTON PRICES.
Prosecution of Men Who Bought Cot
ton for Future Delivery to be Push.
cd TO Extremity, While Nothing is
to be Done to Men Who Sold What
They Didn't Have and Can't Get.


ment came out in the open today in
its attempt to prove that manipua-
ting the cotton market is against the
law. James A. Patten of Chicago and
seven lessor figures in the speculative
field have been indicted charged with
conspiracy in restraint of trade under
the Sherman antitrust law.
The indictment was returned by d
special federal grand jury late this
afternoo and handed before Judge
Hough in the United States Circuit
Court. Five of those indicted-Pat-
ten, Eugene E. B. Scales, Frank b.
Hayne, VIM. p Brown and NJ. Fl.
Rothschild-gave bail for $4,000. as
required through counsel For the
other three who were neither present
In court nor represented by lawyers,
bench warrants were issued. They are
Sidney j. Herman, Robert NJ. Thomp-
son and Charles A. Kittle
Immediately after the Indictment
was announced there was an excited
break on New York cotton exchange,
! July and August deliveries declining
about $3.50 a bale, July selling at
14.S1 and August 14.35, as against
1912 and 1864 at the close Of busi-
ness on the previous night.
The bull leaders, however, appear
ed to be in no manner disturbed by
the governments action and by their
buying orders helped to rally prices
during the last few minutes, July clos
ing 1892 and August 1449 bid, or
about II to IA points up from the low
level Of the day.
| Five counts are embraced in the
indictment, which is in blanket form
and contains 10000 words. The first
count charges that the defendants
"unlawfully did conspire with certain
corporations not herein indicted to
demand arbitrary, excessive and mo-
nopolstic prices for cotton" The
| firms mentioned as conspirators
though not included in the indict-
| ment are as follows:
Alabama-Avondale mills, Birm-
ingham; Central mills, Sylacauga; En-
terprise mills. Enterprise; Montgom-
cry cotton mills, Montgomery; Pratt
Vile cotton mills, Prattville
Georgia-Anchor Duck mill, Rome;
Canton cotton mills Canton; Elm City
cotton mills, LAGRANGE: Exposition
cotton mills, Atlanta; Floyd cotton
mills, Rome; Granville hosiery mills,
| Granville; Habersham, Habersham:
Lawrenceville Manufacturing Com
pany, Lawrenceville; Lois cotton
mills, Douglasville; Mistead Manufac-
turing company. Milstead; Newman
cotton mill, Newman; Roswell Manu-
featuring company, Roswell; Sibley
Manufacturing company, Augusta;
Scottdale mills, Atlanta; Trion Fac
tory, Unity cotton mills, LAGRANGE.
| North Carolina Cannon Manufac-
|
mills, Caroleen; Mecklenburg Manu-
| featuring company, Charlotte.
| South Carolina-Aiken Manufac-
turing company, Bath; Bolton mills,
| Bolton; Brandon mills, Greenville;
| Capital City mills. Columbia; Easley
cotton mills, Easley; Glenn-Lowry
Manufacturing company Whitmire;
| CRANKY cotton mills, Columbia;
| Greenwood cotton mills Greenwood;
| Grendell mills, Greenwood; jackson
mills, Iva; Lancaster cotton mills,
Lancaster; Langley; Monaghan mills,
Greenville; Ninety-Six cotton mills,
Greenwood; Olympia cotton mills Co.
lumbia; Ottaray mills, Union; Pelzer
Manufacturing company, Pelzer;
Piedmont Manufacturing company,
| Piedmont; Richland cotton mills, CO.
| lumbia; Rievrside Manufacturing
company, Anderson; Saxon mills,
Spartanburg; Seminole Manufacture
| ing company Clearwater; ToXaway
mills, Anderson; Union Buffalo Mills
company, Union; Williamson mills,
Williamston Woodruff cotton mills,
Woodruff; Woodside cotton mills.
| Greenville.
Describing the inside workings of
the alleged conspiracy the indictment
says that the consiprators were to
| become members Of and engage in an
| unlawful combination in the form of
an agreement under which they were
scvcrally TO purchase for shipment
from the South to New York all the
| cotton not directly absorbed by the
demands of foreign and domestic
Spinners and manufacturers in IT,
ordinary course of business; in other
! words as much nc they could ,,,r