davidaulloa/AmericanStories huggingface dataset:
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Price May Soar to as High
as 40 Cents in Next Two
or Three Months - The
Spectators Position
BY GEORGE DEWITT M0ULSON
Ueased Wire Service to The Journal.)
copyright, 1929

MANY students of the New York finan-
cial and commodity markets believe that
there exists in the cotton market Of today
a situation that has not been equalled since
the Civil war. Mr.. Moulson, in the follow
ing article, explains the various phases OF
the present situation and forecasts what the
future may hold.)
NEW YORK, Feb. 22.-With the
recent advance in cotton contracts
representing the still implanted
crop Of 1923 during which prices
reached a level of 26% cents, con-
siderable attention is centered to-
day on reports that so-called short
sales were being made on the New
York exchange.
1t is we'll within the limits of
moderation to say that no one
knows whether cotton will be worth
20, 80 or 40 cents when the month
Of October rolls around. In view of
the fact, however, that similar
month was selling at Is cents a
year ago and winter weather in the
cotton states has been more favor
able than either of the two preced-
ing ones operations in the way OF
selling contracts for future delivery
are being undertaken in exactly the
same way that characterized the
market on the opposite side of the
account two years ago. This means
that any owner of mill can now
contract for cotton according to
government standard for the months
of October, December or January
at the price Quoted on the exchange
and sell goods with the guarantee
that no matter what the future may
unfold he is fully protected.
Should the growing season prove
unpropitious and prices be swept
upward to higher and higher alti-
tudes, it is the speculator and not
the merchant who will suffer. AT
twelve cents it was the price that
rendered investment in cotton at
tractiVe and now it is again the
price which induces those who fee
a much larger crop likely this
year, following the disastrous grow
ing seasons to take the opposite
side of the market. Where one
seller appears at 26 cents there
will be two at II, at % and an
increasing number as long as the
possibility for relief exists.
Examples Cited
Through a quite popular miscon'
ception of the functions of com
modify markets, the impression was
created that somebody was attempt
ing to depress prices. This brings
to the fore in concrete from the es'
sential nature of operations in the
cotton as we'll as other markets and
is of such vast Importance to the
cotton trade that an examination OF
such operations is worth while. By
reason of the fact that "short" sell
ing is less easily understood that
the more simple procedure of going
long, the situation existing during
the summer of 1921 can be used as
an easily understood example of the
reverse picture.
It will be recalled that following
the war advance in cotton TO basis
over forty cents a pound prices start
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24

Warsaw.-Lithuani troops bonn
barded the Polish frontier.
Paris,-Work is resumed gener-
ally in French mines where strikes
had been in progress.
Berlin.-German police in the
Ruhr are ordered to make no con-
cessions to the invading French.
WashingtOn.-All federal reserve
banks now will operate on the basis
of a 4 IL per cent rediscount rate.
Bisllra. Algeria. Major
Descamps, French aviator, pilots q
motorless airplane three miles in a
straight line.
Vera Cruz.-The League Of Work
ers' unions compromises with the
Aguila Oil company and cancels a
proposed boycott. ...
New YOrk.-Formation of a COM
pany to erect the Atlanta-Biltmore
hotel at Atlanta, Ga, at an expense
of $4,000 is announced.
Paris.-A conference between the
French and Belgian prime ministers
discloses that their states are in
accord regarding the Ruhr situation!
Atlanta, Ga.-E. Y. Clarke, impe-
rial giant, Knights of the Ku Klux
Khan, will go. on trial March 90,
charged with Using the mails to de-
fraud.
Observation-Disclosures here indi-
cate Mexico contemplates adopting a
law providing for a fifty-mile prohi-
bition zone along the American
border. ....
LondOn.-The chancellor of the
exchequer tells the house Of COM
mons Great Britain obtained terms
no more advantageous than might be
accorded other debtors Of the United
States.
Los Angeles.-The 100000 dam
age suit brought against Herbert
Rawlinson. motion picture actor, for
an alleged attack on Dorothy Clark,
young dancer, is dismissed, settle
ment having been effected out of
court.
WashingtOn.-The federal trade
commission will proceed vigorously
against the Famous Players Lasl1y
corporation and subsidiary concerns,
charging unfair competition and
monopolistie policies, an announce
ment says. <, ...-.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
SWEEPING CHARGES
AGAINST THE KLAN
IN SENATE CONTEST

WASHINGTON, Feb. 22.-(By
the Associated Press.)-Sweeping
charges against the Ku Klux Khan
and its officers were made today
in papers filed with the senate
challenging, the right of Earle B.
Mayfield to take his seat in the
next congress as a senator from
Texas.
The election contest and its ac-
companying charges were filed by
George e. 3. Peddy, who ran for
senator last November in Texas as
a Republican and independent Dem
ocrat, and who accused Mr.. May
field during bitter campaign with
being the candidate of the khan as
well as of the regular Democratic
organization.
Excessive and illegal expenditure
Of money by the Mayfield forces,
fraud in counting the ballots, and
other irregularities were charged in
the contest petition, which asked
for a. recount. 1t was contended
that Mr.. Peddy actually was elect
ed, but in the event the. senate
does not SO decide. it was asked
in the petition that Mr., Mr.. May
field nevertheless be barred from
taking his seat.
The Ku I<lux Khan was charged
in the petition with concealing its
real designs under cloak of
patriotic pretensions in order to
hide plans to Subject the govern
ment of the constitution to the
invisible empire" and with. con-
spiracy to evade, violate and defeat
federal and state laws. 1t was
further charged that the organiza-
ton had, attempted prostitution of
the Christian religion" and had re-
sorted to use of brute force in
timidation, and Immoral and law
less practices"
Bitter Fight FOreseen
A detailed Indictment of the khan
was made in the petition, which was
regarded as the opening gun in
senatorial election contest Of I'M
paralleled bitterness. In addition to
these charges Mr.. Peddy based his
claims to the Texas senatorship
on allegation that 100000 votes
counted for Mayf1eld were ''tllegal
and fraudulent" and that several
thousand actually cast for Peddy
were not counted.
Expenditure of $150,000 in behalf
OF Mayfield in the Texas primary,
in violation of the state law limiting
expenditures to 10,000, was charged
in the petition, which declared also
that Mayfield's name was placed on
the printed ballot illegally and Ped
dys name illegally denied a place,
so that it had to be written in by
voters. The printing of Mayfield's
name was made illegal, it was con
tended, by the alleged illegal expendi-
lures and the alleged conspiracy"
with the Ku-Klux Khan.
Mayfield's election was sought by
the Ku-Klux Khan, the petition con-
tinued, to foster it's purposes Of
getting political and commercial do
minion. 1t was declared the alleged
conspiracy was assisted by various
state and county officials of Texas
The personal qualifications of May
held also were challenged because
Of alleged violation of the corrupt
practices act; alleged false testi-
mony in connection with the Corsi-
cana injunction CASE" Involving a
phase Of the election fight; alleged
misuse and abuse of his official pow
ers as railroad commissioner to COM
pei financial and political support
and contributions by individuals, cor.
porations, ct al, having business
(Cont{nued ON Para q roYu~or A.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
COTTON FUTURE CANNOT
ACCURATELY BE FORETOLD;
ALL PHASES DISCUSSED

ed on a perpendicular decline. The
def!ation and collapse in prices gen.
orally reached such an acute stage
that cotton which had cost, in many
instances, rs cents a pound or more
to produce was being sold for less
than half that figure. Nature had
assisted in the production of a very
large crop in 1920 so that the sum-
mer of 1921 found the cotton trade
facing not only a carryover of al
most 100000 bales but a second
crop soon to be marketed. The cot
ton goods business of the world was
thoroughly demoralized, a buyers
strike" had been declared on the
part of the consuming public and
the question of how to lift this
enormous lightweight Of cotton
seemed almost insoluble. But be
cause cotton was selling below the
cost of production, men who had no
use for cotton but merely in the con-
f1dence that sooner or later an
economic balance would be restored
began to purchase contracts in an
even increasing volume. This move
ment began soon after prices broke
through a, level of Is cents. The
volume grew with each decline
Many who had not the patience and
doggedness to hang on, sold out ana
lost money. But for every faint
hearted Spectator or investor two
were found to replace the one who
dropped out. Every quarter or half
a cent lower attracted additional
numbers until between IL and Il
cents it was estimated that the num-
Der of long contracts on the books
of the various houses in the trade
was the greatest in the history of
the cotton business.
Speculators Brought Relief
The buying power evoked by the
decline in prices finally reached such
formidable proportions that lower
levels became a physical impossi-
bility though no one at the time
could foresee just what future Cir
cumstances would bring about
readjustment. 1t was not that
those who We're to become the even
tual consumers of this mass OF raw
material had realized the opportuni-
ties provided to obtain cotton for
future needs that finally halted the
decline in prices. 1t was the huge
buying of what is called the specu-
lative public that relieved the mar
lSet of so much pressure and even
tually produced a, state of equlib-
rum.
Now that prices have advanced to
the highest level in times of peace
in half a century and the cotton
trade is threatened with an actual
scarcity of cotton if mills are to be
kept running until new supplies are
forthcoming from the yet implanted
crop, forces are becoming operative
in the opposite direction. or it would
be difficult to set limits to the pos
sible rise in values. The last few
weeks have developed very definite
line of demarcation between those
months representing the crop Of the
1922 and those of 1928. Under the
impulse of conditions attending the
supply and demand equation prices
have advanced steadily for about
nine months. Trading in new crop
positions has increased in volume
until October contracts touched 26A
cents, though the ultimate value OF
cotton as determined in the markets
of the world in the month of Octo-
Der, 1928, is as problennatical as next
weeks weather.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
POLLARD CASE To
Be GIVEN To JURY
SOMETIME FRIDAY

RICHMOND, Va, Feb. 23.-Argu'
ment in the trial of Thomas Pollard
charged with the murder of Mrs.
Thelma Ham Richardson, pretty
divorce and former stenographer
in his real estate and INSURANCE. Of
flee here, will end and the case will
go to the jury shortly after noon
today.
Surprise Sprung
A surprise was sprung by the
prosecution late Wednesday, when
Paul S. Lubienski, an architect, tes-
tifying in rehuttal after the defense
had rested. swore that few min
utes before the woman was killed he
saw her run down the steps of the
Pollard home, followed by the de-
PENDANT .-.,
The witness said he passed the
house sometime after o'clock on
the night of the tragedy. He said j.
Mosby West, the only eyewitness
to the killing of Mrs. Richardson,
was standing in the yard. Pollard
and Mrs. Richardson, he stated, were
on the porch when he first noticed
the trio. Before he had passed the
house, Lubienski testified, the wo-
man. -bareheaded, ran down the
steps and onto the lawn, closely fol-
lowed by Pollard who seemed ex'
cited, he said.
Lubienski said he did not stop to
investigate. He was positive OF MS
Identification of the trio, stating
that he knew both Pollard and West
and knew Mrs. Richardson by sight
He said he thought little of the tab
leaux he had witnessed until he
heard that Mrs, Richardson ha been
killed a few minutes later.
Strongest Point
The ,~-timony of the architect s
considered by the prosecution as one
of the strongest points in the case
against Pollard, in that, Common
wealth's Attorney Satterfield point
ed out, it contradicted in an essential
detail the testimony of the defendant
and West, the eyewitness. Pollard
testified yesterday on direct exam
nation and again today on cross-ex-
animation that he preceded Mrs.
Richardson to the lawn and was
standing in front Of the house when
she ran down the steps from the
porch. West testified that both Pol
lard and the woman were on the
lawn before he left his automobile
in the street and that the pistol was
discharged before he reached the
struggling couple. Pollard contra
dicted West in this particular testi-
tying that West stood between HIM
self and Mrs. Richardson moment
before they clenched in the truggle
for possession of the weapon.
About a dozen witnesses were in
troduced by the defense Thursday to
testify as to the veracity of Lubien-
ski, architect. in an effort to made
by the defense today to discredit it.
Virtually all Of those called to testi-
fly as to the architects truthfulness
declared that they would not be-
. lieve him on oath"
That Mr.. Lubienski's testimony
was a surprise to the defense was
admitted on the witness stand by
Hiram Smith, of counsel for the de-
tense. Mr.. Smith took the stand to
tell of an experiment conducted at
the Pollard home last night. He said
he and a party of friends went
through the occurrence as related
by the architect and that the per-
sons he had driven by in an automo
bile could not distinguish between
the two women he had re-enact the
role Mr.. Lubienski said he saw Mrs
Richardson in on the night of the
shooting.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
12O Bales of Cotton Burned

CHESTER, S. c., Feb. 20.-Fire
of undetermined origin caused con-
siderable loss Sunday evening when
about 100 bales of cotton were dam
aged. 1t was owned by Joseph
Wylie & Co., and S. NJ. Jones Co.
The loss is covered by insurance.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Boy to Be Able to
. See With Pigs Eve

/ PATERSON, N. j., Feb FL
Return of sight to the right eye
Of Alfred Lemonwicz, to which were
grated parts of the eye of a pig,
is now assured, DR.. Edward Morgan
said today.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Tailoring Agents, Attention

All tailoring agents are advised to
write at once to Knickerbocker
Tailoring Co., Dept. 100. 131 So.
Peoria St., Chicago. and try to get
the agency for their remarkable line
Of tailoring showing suits for as
low as $16.75, which includes good
profit for the agent.
Complete big Swatch line in hand
some carrying case will be sent for
only $1.O0 deposit We strongly adj
wise every man to try and get this
great powerful tailoring agency at
once.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Notice

Watch the expiration date on
the address Of your paper and
send your renewal at. least ten
days before the time indicated.
We are forced to cut off all I'M
renewed subscriptions. and are
unable to supply issues between
the time a name is cut off and
restored to our list.
We don't want you to miss a
copy of The Tri-Week1y Journal,
but must ask you to cooperate
with us.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Judge A. B. Watkins, Noted
Iurist of Texas. Is Dead

ATHENS, Tex. Feb. 21.-Judge
A. B. Watkins, aged sixty-six, we'll
known Texas jurist, died at his
home here early today. Judge Wat
kins was a son of r. c. Watkins,
who is said to have been the first
Presbyterian minister ordained in
the reDubliC of Texas
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-24
Veneer Factory Burns

FLORENCE, S. c., Feb. 22.-The
veneer factory of the Wagner Lum-
Der company, at Pamlico, was de-
stroyed by fire Of undetermined orr
gin Wednesday. The loss is esti-
mated at approximately $4,000.
Evening star., 1923-12-09
BY WILLIAM ULLNAN.

Enough changes have been made
in car design since the first showing
of the 1924 models to prove the auto
mobile engineers prediction that
number of cherished customs must
so by the boards.
But few car owners have realized
what all this means to the process of
caring for the car.
Custom has been invited 10 take a
back seat. but with have gone and
are going a number Of old rules for
successful car ownership.
The new things in motor cars re-
quire a new form OF care, with the
result that old rules are very likely
to prove to be bad rules.
Since the infancy of his motoring
the car owner has been urged to keep
his tires well inflated, to pump them
up at regular intervals and TO con-
slider himself a motor moron should
he discover himself riding on any
thing less than fifty pounds pressure.
Thus he is quite likely to follow the
old rules even if the balloon. or low
pressure, tire comes into vogue. And
of course he will then be following a
very poor rule.
Washing Mud off Car.
Teke the subject of mud Where is
the motorist who has not been warned
time and time again to wash the car
promptly in event of its getting COW
cred with mud and dirt? Any con-
scientious car owner proceeds to
worry the minute he discovers any
stray splotches OF mud upon the
hood and has no peace until the hood
: again sparkling. And thus a custom
has been evolved, with the result that
a motoriSt frequently goes to the
trouble and expense of having his
car washed when perhaps he would
be justified in postponing the job If
such poStponement were not positive
ly detrimental to the cars finish.
But now this custom is due for an
invitation to the back seat along with
The rest. One of the new models was
displayed recently with it's hood plaS-
tered with mud. This process was
repeated day after day, the finish
showing 10 evidence of damage. 1t
was even pointed out that if a section
Of the finish were marred or damaged
it could be replaced without doing
over the rest OF the car and no one
would be the wiser.
Old Custom to Go.
Bear in mind that this demonstra-
ton was offered on a car selling for
less than thousand dollars. and not
on one of the many special finish cars
which have been introduced as novel
fies. The manufacturers plan to sell
about $4,000 or 100000 of this treat
Evening star., 1923-12-09
New Developments Force
Motor Customs Into Discard
FeHshes of Full Tires, Locked Brakes.
Fear of Mud Splashes, Carburetor
Adjusting, Face Obliuion.

EN- rough" model this season, and
this means that there will be many
car owners to revise their customs
in regard to washing the car.
Without In any way questioning the
value of conventional two-wheel
brakes or casting vote in favor of
four-Wheel brakes II must be ad-
mitted that the new brakes, and the
discussion they have created have
done more to teach the motorist how
TO apply his brakes than all the ad-
vice, rules and customs put together.
He had always been told that when
he wanted to stop quickly tho idea
was to lock the wheels They even
brake tests were held because he
couldn't make his tires slide on the
pavement when stopping.
Now he knows that the maximum
just prior to the locking of the
shelved. while former acts considered
as neglect or carelessness are now
recognized as desirable.
The engineers now say that the
rolling tire represents kinetic fric-
tion, which is always greater than
static friction as represented by the
sliding tire. Thus IS friction is the
keynote of declaration the new
brakes are designed so as not to lock.
giving the driver of the car with con-
ventional brakes the gentle tip as TO
how to apply his brakes if he wants
to get maximum use out of them.
New View of Tires.
One of the time-honored customs
warned the motorists against the
Eabby, underfiated tire. 1T will pick
up all the nails in sight and give you
no end of trouble" said the wiseacres
And SO the car owner drove around
on well-inflated tires in the belief
that the firm shoes would "kick"
aside anything calculated to puncture
tire.
Now he is told that an advantage
OF the balloon tire is that, being soft,
II yields to nails. glass and sharp
objects. thus preventing punctures,
Keep tho spark retarded when
cranking and retard when the engine
labors on a HILL" said the customary
instruction book. But many a motor
ist looks for the spark control today
and finds that the whole business is
automatic. In one instance he is sup
posed to advance the spark in crank
ing.
1t isn't very long ago that tho car
owner was advised to flush tho crank
case with kerosene every time the oil
was drained off. He was told that
this was necessary as precautton
against the collection of dirt and gum
in the engine.
Kerosene Frowned Upon.
But the oil companies are now
strong in their condemnation of this
custom, claiming that kerosene used
for cleansing the engine dilutes the
Evening star., 1923-12-09
PUMP UP, CLEAN UP.

The under side of the spare tire
soon becomes coated with mud and
road oil. Unless this IS cleaned off
occasionally permanent injury may
be done to the tread, and to the cas-
ing, too. If there are any breaks in
the tread In cleaning the car this
section of the spare which is exposed
to the road is usually overlooked. A
good way to remember this is to
take off the spare and clean it every
time air Is pumped into it
Evening star., 1923-12-09

control for the carburetor most OF the
cars would be out OF order" said the
salesman for a popular make Of car.
But today the wise owner is be-
ginning to see that most OF his
trouble has been directly due to over
looking the carburetor. And the very
car mentioned above has come out
with very satisfactory and complete
means of adjusting the carburetor
right from the drivers seat
The cars are changing, but the car
owner must not forget that methods
OF caring for them are changing like
Evening star., 1923-12-09

new OIL that is added, since the sys-
tenn retails a relatively large amount
OF whatever is added to il. The prac-
tice now IS to use a quart of good oil
for flushing out the last drop of the
old.
This change has been fastened by
the advent of the super-oiled motor.
in which there is oil circulation to so
many points that the addition of any
thing but new oil to the engine would
be an invitation to trouble.
Don't attempt to adjust the car
buretor," the motorist was warned
year after year. "If we used a dash