Newspaper Page Text
$300,000,000 Is Available For Home
Modernization Following Relief Loam aome $300,000,000 of new mon ey has become available under the Home Owners’ Loan, act for mod ernization and new bulding of Am erican homes. Relatively unnoticed in the em phasis given plans for stimulating the private lending of money fot home renovation, this actual new money is provided under amend ments to the act providing $200, 000,000 for modernization, and $100,000,000 for expansion of federally chartered loan agencies. John F. Fahey, chairman of the Home Owners Loan corporation, explained these amendments in a statement in which he said the $200,000,000 may provide employ ment of 12$,000 men for a year or more. The $100,000,000 may be sub scribed to the capital of federal savings and loan associations, which are building and loan associations operating under federal charter. Building and loan, associations now privately operated may convert to the federal charter if they wish to get some of this money. Other important changes made by the amendments are guarantees of both principal and interest of new bonds of the corporation,; re striction of loans to distressed home owners who were in default on June 13,-1933 or whose default at a later date has been due to circum stances beyond their control; pro hibition of unauthorized charges by anyone against applicant’s for loans, | and provision for the purchase o home loan bank bonds for th Home Owners Loan corporation. Interest on new bonds of th J corporation will be 3 per cent a compared to 4 per cenvt on the ol< bonds, which may be exchanged fo new bonds during a period of si: months. Interest, not principal, was guaranteed on the old bonds while both are guaranteed to by th government on the new bonds Officials expect both kinds of bond to bring about the same marke prices. The $200,000,000 fund may b lent only on homes on which th Home Owners Loan corporatioi already has made relief loans. Somi 750,000 homes are expected t< come in this category before thi end of the year. ‘Nice Itty Doggie Eat All Um Soup Paris—A dogs’ restaurant jus opened in a Champs Eyeless cafe strikes a new and heavy blow ai Parisian home life. Instead of the traditional mess ol bread and meat scraps, the estab lishment offers a course luncheor or dinner for canine epicures. The menu includes soup, a dog biscuit, meat pudding, carrots, string beans, spinach, rice and noodles. Safety Conference i Meets In Asheville f On May 17 and 18 Asheville, N. C.—The Industrial , leaders of North Carolina repre 5 senting all types of industry are to [ hold their Fifth Annual State-Wide - Safety Conference in Asheville, ; May 17 and 18. , Since this is the first State , Wide Safety Conference to which : women are invited it is expected . there will be -a large atendance. > No credentials or fees are required as the conference is being held un der the auspices of the North Caro ; lina Industrial Commission. : I The Convention is held annually t j for the purpose of stressing the im 'jportance of safety and other phases > |of work supervised by this body. In previous years the conference has met at High Point, Charlotte, Winston-Salem, and Greensboro. Each year the attendance grows larger. Last year there were ap 1 proximately eight hundred present. This year, due to the charm and beauty of the mountain flowers and foliage at this season of the year more than a thousand are expected. The matter of being a delegate is not essential since much time will be devoted to mountain driving and excursions to nearby mountain peaks. Everyone, whether or not a member, will be welcome to at tend the sessions and participate in the proceedings. A general invi tation to men and women of North Carolina is extended for them to come to Asheville May 17 and 18 during the Convention and while special low rates are in effect in all Asheville hotels. Rates may be extended for two days additional to round out the week-end for vis iting nearby mountain resorts, in cluding the Great Smoky National Park, about 75 miles distant. Mellon Plans | Tax Fight To ‘Last Ditch’ Pittsburgh—Andrew W. Mellon "the greatest Secretary of the Treas ury since Alexander Hamilton,’f laid the groundwork for a legal battle with the United States Gov ernment as Federal attorneys pre pared to place evidence of alleged insufficient payment of income tax before a grand jury here next week. In a lengthy statement defend ing his tax payment in 1931, Mel lon asserted: "I will fight the income tax case against me to the last ditch. Mellon flayed Attorney General Homer S. Cummings for his policy of sending income tax cases direct to Federal Grand Juries, asserting he was taking his case to the United States Board of Tax Ap jpeals before which he expected to Jshow no additional taxes are due |3nd that he is entitled to a refund .on part of taxes already paid. I The former Secretary, who re signed his post to become Ambas sador to the Court of St. James during the closing period of the Hoover Administration, intimated [Cummings’ method was a scheme to force voluntary payment of tax es and penalties fixed by the Gov ernment instead of permitting usual hearings. Mellon stated the Govrenment demands $1,319,080.90 additional on his 1931 income and $659,540. :45 in penalties and that to compute this sum, the Treasury arbitrarily increased his taxable income, disal lowing reductions "entirely proper and approved.” | The Government’s action makes [him a victim of a campaign of ["villification” and attempted "ter roism,’’ Mellon said, adding he had made no offer of settlement | and intended to make none. Black-Draught Good For Biliousness and Bad Taste in Mouth “I have found Thedford’s Black Draught so good for biliousness, bad taste In the mouth and other disagreeable feelings due to consti pation,” writes Mrs. Mary Gamer, of Burleson, Texas. “My mother used it for a number of years and we do not think there Is a better medicine. I was pleased when I saw Syrup of Black-Draught ad vertised. I sent for it and gave it to my children (as a laxative) for colds and when they felt bad. Soon they felt fine.” . . . Thedford’s Black-Draught for the grown folks1 and Syrup of Black-Draught for the children. Say, ffZ Saw It in THE WATCHMAN” Yawn In Bed Breaks Neck Dallas, Texas—L. W. De Young, Dallas, head of publicity and ad vertising for the Southwestern Bell relephone Company in Texas, sus ained a broken neck from yawning ind stretching in bed. De Young awoke stretched him ielf with his head slightly to the -ight, and heard a slight snapping noise, after which he was unable to turn his head to the right past dead center. Several days later he had an X-ra^taken. j Rowan Cotton Acreage W.G. Yeager, county agent, in dicated that the cotton acreage in Rowan this season would not be over 18,000 acres. He has mailed a letter to 1,500 cotton farmers in tfte county warn ing those who did not sign the re duction agreement with the gov ernment that it now appears they will have to reduce their acreage from 40 to 50 per cent this year unless they are taxed half of the price of the excess at ginning time. Traveling Around America 1‘huLo Urate Line A WATER ESCALATOR HERE is Gatun Lock, one of the “water escalators" on duty in the Panama Canal. It is nut far from Colon at the Atlantic entrance and is composed of a series of three locks each of which—like all the locks in this amazing waterway—is composed of twin chambers so that ships may be passed in opposite directions simul taneously. Dimensions give the most graphic idea of what astounding feats of mod ern engineering the locks rally are Each of the chambers is about 70 feet deep, is more than 100 feet wide and 1000 feet long—spacious enough to ac commodate the largest ships that sail the seas Yhe gates which give en trance to 'he chambers are composed of two leaves, each 65 feet long, 7 fret thick, and about 50 to 80 feet high, weighing about 400 to 750 tons The opportunity to see these lock at work is < onsidered by most passen gers taking the weekly cruises be tween New York, the Central Ameri cas, and California, as one of th great st treats of ihe entire trip. A the ship nears Gatun from Colon litt.l electric engines called mules, running along both lock walls, take the ship ir tow to guide her through the locks The giant chamber doors mysteri ously open, the ship enters the en closure, and the doors swing closed The water churns and bubbles, lifting its massive burden tu the level of th second lock. This is repeated until th ship has been lifted 85 feet to the leve of Gatun Lake—after crossing which it is lowered by Pedro Miguel an. Miraflores Locks to the level of th Pacific. Fight Looms Over Plan To Cut Historic York Trees - !---— York, S. C.—"Woodman, spare that tree’ will probably be the battlecry heard on every side in historic old York, particularly rom the women’s organizations of he city, when the terms of a con ract just executed between York tity council and the South Caro ina state highway department, become known. The contract calls for the state highway department to take over, epave and widen the main street of York but only after the city council has cut down and remov ed all the giant shade trees on the main thoroughfare of the munic ipality. These trees have long been held to be one of York’s chief charms; some of the trees are older than I the town’s oldest inhabitants and there will be general regret at their passing, but the contract with the highway department calls for the widening of Main street from 3 2 feet as at present to 30 feet, and that will be possible only by re moving the trees. ! City officials say that these trees' have caused the city untold trouble and expense, by reason of their roots penetrating into the city sewerage system and by caus ing the street paving and sidewalks to crack. They maintained that cutting down the trees will be a good riddance, but this view is not shared by the older residents of Yorkk and there is sure to be a mer ry battle between the opposing fac tions before a single tree is felled. American people are spending an awful lot of money to widen roads, so that the speeders can speed faster, and run the same or greater chances of accident. The world is said to be a very samll place, but the newspaper re porters will not say so after trying to locate the man who always stays out late at night. People hope to live to a "ripe old age,” but many are trying to' pre jpare for it by living a rotten young I age - The World war was fought to make the world safe for democracy, and it did not seem to accomplish jmuch along that line, but anyway jit did a good deal toward making jthe world safe for government ex penses and taxes. Not merely are great crowds fill ing the grandstands of the big league ball parks, but the kid ele ment make clear their willingness jto support the national game by [looking through every available [knothole. I CARDUI ) STAR LAUNDRY "The Good One” Launderers and Dry Cleaners Phone 24 114 West Bank St. ONE DAY SERVICE Insurances SIGMON-CLARK COMPANY REAL ESTATE - RENTALS - LOANS - INSURANCE 102 North Main Street Salisbury, N. C. Phone 25 6 I WHEN YOU WANT IT! QUALITY PRINTING LETTER HEADS ENVELOPES BILL HEADS STATEMENTS INVOICES BUSINESS CARDS FOLDERS SALE BILLS PROGRAMS, Etc. IF it is quality printing you want, at a cost no greater than you might pay for * inferior work, then you will give us the opportunity of making] estimate on your next order for printed matter. Our service department is! at your call to help with layout, type selection and form of presentation. ^ There is no extra charge for such service .... Simply phone 133. THE WATCHMAN PRINTSHOP 119 E. Fisher Street Mother's Day Sunday May 13th l j Give Mother Future j 1 Happiness With the \ ! Gift of a I s KELVINATOR ! | “ •< MOTHER ... the greatest person x | on earth . . . deserves the finest * gift. Give her future happiness, less g= work, economy and health protec- s H tion with the gift of a KELVINA TOR on Mother’s day. Seventeen | models from which to choose— i< I low prices and economical terms. | | Southern Public j j Utilities Company j § PHONE 1900 X S 9S is Ride the street cars and avoid the parking nuisance g /'