Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1914-10-27
Straps aud faets.

report that both the syndicate and
corporation plans had been over
subs ribed and that an announce
ment was only awaiting few unim-
por, ant details yet TO be completed.
1t is peCted the conference COM
rnittee will soon take up with Liver
pool The question of opening the two
exchanges simultaneously. New Eng
land mills are said to be considering
large orders for heavy drills but are
unable to cover their sales with pur-
Chases of cotton and are awaiting the
opening of the exchanges in order to
hedge their transactions. In the last
few days limited purchases OF cotton
close to cents delivered, have been
made by these mills.
The cotton situation arising from
the European war is being rapidly
cleared up. in the opinion of President
Wilson. He told callers at the White
House yesterday that the end of the
war alone would restore normal con-
ditions in the cotton industry, but
that rapid progress was being made
in the efforts to assist the cotton
growers of the south. The president
based his optimism concerning the
cotton situation on the plans for fur
nishinS money to the cotton planters
and on the opening OF the foreign
markets. He said there is every reason
why all ports should be open to cot
ton and predicted that they would be.
MIR. Wilson declared that southern
business men with whom he has talk
ed, had not been deeply apprehen-
sive over the cotton situation. He
added that he had been confident all
along that the question would work
itself with the assistance of the ad-
ministrative officers of the govern
ment.
An investigation undertaken by
the Wall Street Journal into the hold
ings of American stocks in Europe
discloses some interesting data. Re
turns to date have been received
from ia corporations, whose Euro
pean holdings as of June 80, 1914,
total S461,792,5S6 OF a total outstand-
ing stock of 5,046. .604, ,0S3. an equiva-
lent of 9.15 per cent. Foreign hold
ings of United States steel were Sl22.-
404.5OO common, and 7,514,2OO pre-
ferred. OF Pennsylvania s74, 4,490,442
is held abroad and of Southern rail-
way, $62,S52.400. Other corpora
tions whose stocks are held largely
abroad are Kansas City Southern,
American Smelters. New York Cen
trial. ST. Paul. and American Tele-
phone Canadian Pacific is not in
cluded in this list since majority or
this stock is held abroad. Foreign
holdings of bonds of our railroads
are placed by this authority at about
s3,400. 0Oa 000 or about one-third OF
all such bonds outstanding.
The British admiralty has made
public a statement setting forth that
since the beginning of the war, German
cruisers have sunk thirty nine British
ships, and British cruisers have sunk
or captured 1873 German ships. The
British have over 1000 ships engaged
in commerce in various parts OF the
world while German ships are gener-
ally imprisoned in home or neutral
ports. 1t is estimated that there are
now on the high seas eight or nine
German cruisers, including the Emsden
and the Karlsruhe, and that more than
seventy British French, Russian end
Japanese ships are securing the seas
for them. The statement goes on to
say that German commerce is virtually
dead, while British commerce goes on
with but little interruption, the Ger
mans having sunk or captured less
than one per cent Of the ships. 1t
stated also that if British ships would
pay more attention to the advices sent
out by the admiralty, none Of them
would fall victims to the German ships.
- Senators from the cotton states on
Saturday, asked Acting Secretary OF
State Lansing to obtain assurances
from the belligerent nations of Europe
that shipments of cotton from the
United States either to neutral or bel
ligerent countries would not be detain-
ed or seized. Although cotton is neith-
er absolutely nor conditional contra
band, there have been instances, 1t was
said, in which cargoes destined for
Holland have been detained. Cotton
shippers have found it difficult to OBJ
tain insurance for their shipments. In
formal negotiations looking to preVen-
ton of such occurrences and specific
assurances on which marine insurance
companies can safely issue policies, 1t
is believed, now will be sought from
the belligerent powers. There is an
embargo on shipments of cotton from
Holland, but so far as state department
officials know there is no restriction on
it's importation into any European
country. Inasmuch as the mills in
England and France are closed, fair
market is understood TO exist in Ger
many and it is to expedite and safe
guard cotton trade to Germany that
the efforts Of the Washington govern
ment will be directed.
Count Won Bernstorff, the German
ambassador, has announced that Ger
many would respect the Monroe Doc
trine, whatever the outcome of the
European war. A note to that ERECT
has been presented TO the state depart
ment by the ambassador. The text OF
the communication was withheld by
department officials, but Acting Secre-
tary Lansing made this announcement:
The German ambassador on Septem-
Der 3, last, in note to the department
of state stated he was instructed by
his government TO deny most emphatl-
cally rumors to the effect that Ger
many intends, in case she comes out
victorious in the present war, TO seek
expansion in South America" Discus
sion of the ambassadors note was
aroused by a published statement OF
Doctor Dernburg, former colonial sec
retary of Germany, calling attention to
the fact that his government had noti-
fed the United States Of the untruth of
reports as to it's intentions in
South America. Doctor Dernburg and
German officials here attributed these
rumors to Germany's enemies in the
present war, believing they were de-
signed to influence public opinion in
the United States against Germany.
After being in continuous session
since the inauguration of Woodrow
Wilson, a period of nearly nineteen
months, the SiXty-third congress ad-
journed it's second session last Satur-
day, when prolonged efforts To procure
cotton relief legislation finally collaps-
ed. Leaders in this movement agreed
TO adjourn only on condition that pend
ing cotton measures would have right
Of way when congress re-assembles De-
cember {. Not more than fifty men,
bers of the house and less than quo
rum of the senate were present when
the gavelS fell on adjournment with
out date The end was accomplished
through passage of a concurrent resO-
luton ending the session at p. m, but
clocks were turned ahead in both
chambers, actual adjournment in the
house occurring at 1922 and in the sem
ate at 3.2I. AS the altered hands of
the house clock drew near 4 and the
senate was winding up Legislative bus
mess, Speaker Clark arose at his desk
and facing the scattered attendance on
the floor said: This is the longest and
most labOriOuS session that congress
ever has known. | congratulate you
most heartily on being able to adjourn
at last. | wish TO thank every member
Of the houSe-Democrat, Republican,
Progressive and IudeDendent-fOr uni