Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-01-11
Straps anil fats.

creating it in the spirit in which the
statute was drawn as {, result nf the
action Of congress in overriding; the
presidents veto Of the resolution to
revive the corporntion's activities. The
Treasury secretary said the means to
be Iadopted by the corporation in
making advances to exporters would
what needs the corporation would bc
called upon to meet. Funds for MAX
ingAhe loans must be borrowed by the
corkoration or the treasury. he said.
butSuntn it is known: how much
moIiey will he required 1t would he
pooE policy to pay interest on the loan
fund. The corporation therefore Will
wait until applications for advances
under the terms of the law arc made,
he Alded. Secretary Houston said the
fact, that the corporation cannot make
advances, directly to producers hut
must extend it's loans to exporters or
institutions financing exports should
notSbe lost sight of.
-R. S. Hecht. president of the 1iib-
ernia Bank & Trust Co., of New Or
leans was - elected president OF the
Federal International Banking COM
pany at the organization meeting OF
thefcorporation at New Orleans last
: Friday might. T. j. Caldwell. presi-
dent Of the Fort Worth National
bank, was elected vice president. and
HAYNES: AIcFadden. formerly Of At
lanta. was elected secretary. The fol-
lowing bankers were elected members
of the executive committee: r. 5.
Hecht, John F.. Bouden, Jr., and j. i.
Buffer, IT, all of New Orleans: Rob-
ert If. Maddox. president Atlanta Nat
ionS bank. and r. Brinkley Snowdcn,
of Memphis. The two sessions of the
stockholders of the STo00.000, corpor-
ati0n, organized TO assist southern
producers in marketing their pro-
ducts in foreign markets, were large
ly attended by representative bank
ers;from II southern states. With the
adoption of a: chaster by the stock
holders, the nations second and larg-
est Edge bank became realty and lis
ready to open its doors for business
immsdiately::, 9~..: :..7. p.
- The nation has recovered its fin
aGcial sanity and is not troubled so
mich with either extreme of pessim-
ism or optimism, said w. p. G. Hard
ing, governor of the federal reserve
board in an address in New York
last Saturday night. He was speaking
at q dinner in honor of Franklin ID.
Roosevelt, former assistant secretary
ofsthe navy and Democratic vice pres
idential candidate, recently elected
vice president of the Fidelity and De-
post company OF Maryland. Govern
ortHarding said that any danger of
general collapse. which he had not
feared at any time, has passed and
that the worst undoubtedly is over.
1.-The country generally has recovered
its normal state he said. I'VE are
not indulging in the old idea of en-
travagance, living beyond our means.
Nor are we troubled. so much rs we
were n few weeks ago with that other
extreme of over pessiriSm. where pco-
pie get down in the dumps and they
cannot see any daylight. cannot SEQ
any hope. see nothing but gloom and
darkness" Governor Harding said
there were signs that the extreme de-
preston which has occurred in some
industries is near the end. The IN
dustrial and economic future nt this
country" he added, depends now
more than anything else perhaps upon
our foreign, trade"
-Luois peschamps. French. un-
der secretary, Of state for posts and
telegra phS, : laid the cornerstone o!
what u.s. designed to he the most pow
erfuT radio station in the world. capa-
Bile of transmitting with two sending
instruments $4,000 words hourly or re-
ceiving and deciphering simultaneous
" 10000 words hourly on five instIu-
ments. The alternating system will
be used. The Lafayette station. which
now is the most powerful. has max
imum range OF $4,000 miles. but en-
perience has shown. according to the
ministry Of telegraph that it cannot he
depended upon for more than 1900
miles regularly, being unable. for in
stance, to work satisfactorily with Ar
gentina. The Saint ASsiSe station.
when completed in 1923. will: it is CAL
culated, work easily and Regularly
with all stations in the world. The
station will he erected for the Com
pagnie Generate Telegra pho SanStil
General Wireless Telegraph cnmpa-
NY. Thirty per cent of the capital in
vested in the company is English. and
70 per cent French. the French Cable
company. holding 20 per cent OF the to-
tai capital The company has Il work
ing agreement with tho American Ra
dio corporation. The striking physical
features, of the plant will he 1G steel
towers each $40 feet high. y number
of special telegraph wires will con-
meet the station with the telegraph uf-
fees.
Information now in possession OF
the !lmehitan government on the r"la-
tive strength OF the three principal
naval powers. believed to bc complete.
shows. the present naval strength Of
this country to he about half that of
Great Eritain. while more than double
.the seapower Of Japan. I'm first line.
major Ships.i including battlcshipS and
battle cIiiSeIs.. the British navy "n
January 1. 1921. this inf"rma ti"n
shows, numbered 81 vessels OF Sll $50
tons. while the United States possess
ed 16 vessels Of '43a.71n tons and Ja-
pan 10 vessels of 2SS,320 tons. While
capital shops under construction for
the American navy, including twclr"
dreadnaughtS. and six battle cruisers
to he completed in 1923. will practical-
~ offset the British prepondcInncc i'll
this class OF vessels. the information
shows thot the American fleet still
will he greatly inferior in types "f
vessels regarded hy naval officers rs
Of the first Importance in naval
strength. These types include notably
destroyer leaders. cruisers and light
cruisers. and cruising submarines. Al
though with completion of the present.
authorized building programmes of
the two countries tho American navy
will have only six battlc-crliiScrS. rs
compared with i for that of Japan. il
will more than sustain Il. 100 superb
Ority by virtiIc of its greater number