The Holly chieftain., 1923-03-29

| indicates that the demands would not
be understated. On the face of them
the terms are severe enough, If they
have really been made, to ALLEVIATE
many friends of the French govern
ment.
7 ORD BIRKENHEAD, one of the
- cabinet ministers in Lloyd
Georges government. addressing the
house of commons last week. stated
that France has eight airplanes TO
Britain's one and that 1t was In a
position to blow British Industries into
the air at any time disagreement be-
tween the two countries reached the
stage Of war. His remarks were the
prelude to an appeal for more funds
for the military arm of his govern.
ment. Students of British politics will
gather mostly from his remarks that
Lloyd George merely is starting out
to undermine the Bonar Law ministry,
although there seems little doubt that
England is in bad shape. compared
with Its cross-channel rival. In regard
to fighting aircraft.
XXIALL STREET WAS BACKED
w up to the wall the past week
by Clarence Saunders, Memphis man
who asserts the big financiers tried to
hang the name of "a boob from Ten
nessee" on him. The financial dis
triet Of New York has not had such a
jolt In years. The deal came about
through Saunders deals In Piggly
Wiggly, Of which corporation he is
president. He quietly amassed near
ly all the available stock that was
not held by legitimate investors and
then bought some 10000 shares on
margin for future delivery. Without
warning he demanded the delivery
| of these shares and the scurrying
around by brokers and the gamblers
who were the principals in the trans
actions, forced the New York Stock
Exchange to bar trading in Piggly
Wiggly to save some big traders from
financial disaster. Saunders threatened
to force those who have sold to him
to pay him $3.50 share In lieu Of
their delivery Of the actual stock, a
figure that meant ruin to many of the
stock gamblers.
The stock exchange charges that
Saunders acted in bad faith, to which
Saunders retorts that he went into
the market for the first time In his
life in his Piggy Wiggly deals and
that the financial powers let him run,
feeling certain he would come crop
per. When he outguessed them, he
says they showed themselves poor
sports. He further says that brokers,
who are practically all members Of
the New York Stock Exchange, tried
to break him by demanding that he
settle in full for all of his commit
ments and that he surprised them by
doing SO and demanding the actual
stock in return for his cash. He says
that threats by the exchange to ex-
punge the stock. from its trading list
have no fears for him and that as
long as he lives he will never head any
company whose stock Is traded in on
l the New York board. It is said that
1t took $10,0O0,O0O at one time to
handle Saunders deals and that the
New Yorkers figured he would never
be able to control that amount. A
few years ago Mr.. Saunders was a
grocery clerk at 81 week.
JUDGE WALTER EVANS. UNITED
y States district Judge for the west
ern district Of Kentucky, has ruled
that dry agents cannot stop and search
automobiles for liquor without specif-
! ic search warrant. He is reported
to have made the curious ruling that
"the prohibition law Is not the supreme
law of the, land" construction that
will be novel to many who had thought
It had become part Of the Constitution
of the land as the famous Eighteenth
Amendment. More recently Judge
John r. Hazel Of Buffalo, In the Fed
eral court at Syracuse, N. Y, ruled
that prohibition enforcement officers
could not enter homes In search of
liquor.
On the other hand Federal Judge
John NJ. Killits, at Cleveland, Aen-
fenced Joseph Biener, of Pittsburgh,
liquor law violator who had pleaded
mot guilty" and then been found
guilty, to the full limit Of the law,
sending him to Atlanta penitentiary
for two years, fining him $4,000 and
in addition saddling the court costs
on him. Judge Killits declared that
Biener had forced the government to
draw a second Indictment to secure his
conviction and that he would have to
reimburse the government for the ex.
pense to which 1t had been put.