THE HOME NEWS
EDITED IN THE INTEREST OF McCRORY AND WOODRUFF COUNTY
yOI-UMN 6
McCRORY,
ARKANSAS,
FRIDAY
29, 1920.
NUMBER 15
judge denounces
METHODS USED IN
STOCK SPECULATION
Chancellor Hutchins Bitterly
Arraigns Men Who Urge
Their Friends to Invest In
Worthless Enterprises.
Forrest City, Oct. 27—Chan
cellor A. L. Hutchins, in hand
ing down the decree in the
suit of stockholders of the
Rainbow Division Oil and Gas
Company of Little Rock,
against D. C. Webb, Eugene
Williams and R. E. Priddy,
vesterday, delivered a scath
ing denounciation of the
methods used in stock spec
ulations. The suit was filed
by T. A. Shea and B. W.
lvioore, as trustees.
Chancellor Hutchins^ grant
ed stock-holders of the com
pany a judgment of $89,230
against Webb, the only one of
the three defendants upon
whom service had been ob
tained. A similar suit is
sending against Williams in
Memphis, Tenn., his home,
however. Williams a former
esident of Forrest City, for
many years was a prominent
Eastern Arkansas politician
and was secretary of the St.
Francis Levee District.
me case was oom .novel
lend interesting,” said Chan
cellor Hutchins in granting
the judgment. The defend
ants bought an oil lease for
1820,000 and immeditely or
ganized the Rainbow Division
Oil Company, with their own
employees as directors, and
(assigned the oil lease to the
Icompany for $75,000 in money
land $20,000 in stock, the
\oney to be raised through
|the sale of stock. The direc
tors realized $89,230 from the
[sale of stock, of which $75,000
[was paid to Williams, Priddy
[and Webb, and the rest was
Impended as commissions and
Fpenses.
“The court set aside the
assignment of the lease from
'0 defendants to the oil com
pany, and gave judgment for
entire $89,230 against
rhe
^ebb, with interest at the
[ate of 6 per cet per annum
pm October 1, 1919, until
paid. The defendants mjustl
Pay the costs.”
Webb asked for an appeal
1° the Supreme Court, which
^as granted.
“One views with alarm the
Pave of speculation sweeping
per our country/* said Cnan
jellor Hutchins, “fanning in
r flames the unrest and dis
®ntent that consumes our
Pple. Rich and poor alike,
Passed with a desire for
mckly and easily gotten
Pith rush into the maelstrom
financial ruin, risking the
ags of a lifetime in a peril
venture.
. mr the average man, one
f1 scarcely feel pity for the
P attendant on ventures of
° ^ind, but there is another
MRS. E. C. MARSH DEAD
Died: Catherine Marsh,
age about 23 years, wife of
Elmo C. Marsh, died today,
Friday, at their home 623
West Fourteenth Street, Little
Rock. Mr. A. J. Marsh and
Mr. and Mrs. T. E. Dye will
go to Little Rock tomorrow,
Saturday, morning to attend
the funeral.
class to which the court owes
especial protection. These are
the ones whose confidence,
placed in men of affairs known
for business sagacity and pro
bity, not only advised but
urged their friends and neigh
bors to embark with them in
these worthless enterprises.
True, oftentimes, these local
magnates are themselves the
victims of other and more
unscrupulous Wallingfords.
“They deserve no sympathy.
Cupidity and avarice have
been their undoing. As they
sowed so have they reaped.
Long accustomed to tribute
flowing into their coffers from
helpless contributors, they at
last in turn have themselves
become the outgoing stream
instead of the reservoir.
ror tneir aupes, t.ne moor
ing man, the farmer, the clerk,
the book-keeper, the stenog
rapher, the widow—all who
with a pittance are possessed
of a natural desire for the
comforts that money alone
can secure, the courts and the
community in general owe
(Sympathy and protection.
“Resting their faith in the
well-advertised claims of
these promoters, relying on the
personal assurances of these
directors, their friends and
neighbors, from whom they
had every reason to expect
fair treatment, these stock
holders oftentimes deprived
themselves of the very neces
sities of life in furtherance of
the plan of these unscrupu
lous adventures.
“The poor see all about
them evidences of prosperity
and wealth. Desfire implant
ed by nature in the hearts of
men, arouses a hope for better
homes, more comfortable sit
uation, better opportunities for
the children and moderate
gratification of the normal
needs of 4ife.
“The siren sings, the earth
is pierced. Visions of streams
of liquid gold spouting to the
sky from a thousand wells are
conveyed graphically by art
ful maps and stories to the
•gullible purchaser. The pub
lic rushes to buy. The family
stocking is tapped. And not
until the promoters have un
loaded entirely and like'the
Arabs, folded their tents and
stolen away, does dissolution
come.
“NO cpndemnation is too
great, no castigation coul.d be
too severe, for men who in
j (Continued on page six.)#
7“
COX-RQOSEVELT FUND
Following is a list of those
whose names w^- haVS secured
who contributed from Wood
ruff County to the Democratic
campaign fund.. The names
of those who contributed the
$187.50 sent in by the Wood
ruff County Bank and the
$17.00 sent in by J .D. El
dridge we were unable to se
cure.
AUGUSTA
Woodruff Go. Bank,....$187,50,
McCRORY
McFall, Mrs. L., . 1.00
Pilliard, Mrs. W. G., .... 1.00
Spradlin, Miss Ruby,.50
Chaney, E. W., . 1.00
Scales, Ed, . 1.00
Barber, G. W., . 1.00
McCrory, J. C., . 1..00
Crossett, Rorpie, . 1.00
jCarson, K. H., . 1.00
Porter, O. K., ..50
Chappell, J. R., . 1.00
Croissett, J. H., . 1.00
Huff, D. M., . 1.00
Ball, H. L., .:. 1..00
Hall, H. C., . 1.00!
Taylor, Carl, . 1.00
Huff, V. E., . 1.00
Wherry, E. T., . 1.00
Wherry, N. E., . 1.00
Raymond, J. P., . 1.00
Chaney, Mrs. N. H., . 1.00
Morgan, J. F., . 1.00
Bull, T. C., . 1.00
Cash . 1.00
McCue Neal, .50
Fraser, Mrs. R. L., . 1.00
Powell, Bessie R. 1.00
Brewster Dr. B. 1.00
! McCain, Mrs. Esna, . 1.00
! Angus, W. B., . 1.00
Carson G. L., . 1.00
Raney Mrs. W. W., . I.UU!
Chappell Mrs. Mollie,.50
McCain Dr. W. T., . 1.00
Sturdivant Leslie, .50
Willis C. T., .... 1.00
Cazort Miss Valerie, .... 1.00
Bryant Miss Ollie, . 1.00
Witherington Miss R., .... 1.00
Rives Miss Mary, .... .50
Riggs Mrs. H. P. Jr.,.25
Lewis Fletcher, . 1.00
Farley Mrs. Margaret, .... 1.00
Fraser, Dr. R. L., .*... 1.00
Greer Mrs. Maud, .25
Jelks W. E. 1.00
Raney Walter W. 1.00
HOWELL
Smith, J. A., . 1.00
Reneau, J. W., . 1.00
Carter, D. I., . 1.00
Berry, D. C., . 1.00
Mars.h, Milton, .1-. 1.00
Reneu, Miss Lena, .50
Stanfill, G. W., .. 50
Osborne, Dr. J. M., ...... 2.00
Keath, Dan, ..1. 2.50
Keath, E.' W., . 1.00
Miller, Edgar, . 1.00
Isom, Mrs. Grace, .50
Nerred, C. J,, . 1.00
Howell, R. E., . 1.00
Alexander, S. R., . 1.00
Robertson, J. E., .r .50
Beard, Carey, . 1.00
Rosser, E. R., . 1.00
Cole, L. L., . 1.00
FITZHUGH
Snapp, J. H., . 10.00
Fitzhugh, E. C., .....10,00
Looney, T. J., . 1.00
Massey, M. F., . 1.00
Knight, T. S., . 1.00
Agee, J. W., .10.00
Dale, J. H., . 1.00
Hester, J. C., . 1.00
Overstreet, W. D., .. 2.00
Haralson, J. P., .’.. 3.00
GREGORY
Eldridge, J. D., .17.00
DEVIEW
Morris Dr. J. W., .. 2.00
Morris, Mrs. J. W., . 1.00
Keating W. M., . 1.00
COTTON PLANT
Doss, C. P., .41.00
Total .$352.50
CLIAMS WEEVIL HERE
We received a letter from
Mr. A. Long on Route Two
the past week in which he
enclosed what he claims to be
a live boll weevil. We are
not familiar enough with the
“bug world’' to say what
kind of a weevil he has cap
tured, but so far as looks are
concerned, we will say that it
looks like the real thing. Mr.
Long states that it was found
on the Comer farm and that
if the landlords will co
operate with the tenants, much
good can be accomplished
toward preventing the boll
weevil from getting a hold on
this section of the cotton belt.
The weevil is at the News
office for the inspection of
those who may be interested.
PETITIONERS WIN SUIT
Following is the decision of
the Supreme Court which was
handed down this week con
cerning the ousting of the
commissioners of Bayou De
View Drainage District:
That the action of the Cross
Circuit Court refusing to re
move R. J. Kibler and others,
ais commissioners of Bayou De
View Drainage District, upon
the petition of R. L. Fraser
and others, which petition al
leged that the signers consti
tuted a majority both in num
ber and acreage of land own
ers in the district, should be re
versed.. The Circuit Court
sustained a demurrer to the
petition on the ground that
no cause for the removal was
alleged. Under the act creat
ing the district, upon proper
petition of a majority in
acreage and owners, it is not
necessary to allege cause for
removal.
ELECTION JUDGES
Following are some of the
newly appointed election
judges:
Augusta—J. B. Kittrell,Paul
Martin and Chas. Willis.
McCrory—W. W. Raney, A.
G. Taylor and Hamp Riggs,Jr.
Country box—Geo. Raymond,
R. L. Johnson and Jno. Spain.
Jelks—J. W. Mullens, W. E.
Baker and S. R. Rickman.