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Attend Salisbury’s Dollar Days September 6 and 7
The Carolina Watchman FOUNDED 1832—103RD YEAR_SALISBURY, FRIDAY MORNING, AUGUST 31, 1934 VOL. 103 NO. 3 PRICE 5 CENTS WASHINGTON j RFC And Banks At Cross-Purposes A National Central Bank One of the things which the President is expected to call on Congress to straighten out next winter is the matter of control of banking and credits. Ultimately, many folk here be lieve, the Government will become the sole primary source of credit. All the indicatons point that way. At present, however, there are three separate institutions dealing with the banks and each exercising some sort of control over credit. And those three are pulling in different directions. There is the Reconstruction Fi anace Corporation, the Treasury and the Federal Reserve Bank sys tem. The first two are Govern mental departments, the last osten sibly a private institution, but und er close Government supervision and control. The RFC not only has lent a few billion dollars to banks, but it is now, under a law passed at the last session of Congress, making loans to private industries. All of those loans are amply secured. Indeed, the RFC—which is, incidentally, one great Governmental agency which was established under the preceding administration—is the source to which almost all sound business enterprises of any size are turning for working capital. There is no doubt in the mind of anybody that these loans will ultimately all be paid back, with interest. The RFC also has invested a great deal of Federal money in the preferred stock of many banks all over the country. The theory of this is not only that weak banks needed this strengthening but that, being a l»ry smoidkbfdd**,.ifljfrr* i ernment would thus be entitled to a seat on the board of directors, and j so keep watch that no depositors’ i money was lent for speculative pur poses. The Administration believes, j and rightly, that a large part of our financial difficulties have arisen from too easy credit for purely speculative purposes. But it was definitely the intent that this addi tional bank capital, provided by the RFC, should be used to enable banks to make legitimate loans to business and industry; in other words, to loosen up bank credit. That would have been all right if it had not been for the directly opposite view on credits taken by the Conptroller of the Currency’s office. That branch of the Treasury is charged with the periodical ex amination of all national banks. In instance after instance^ when banks which have sold preferred stock to the RFC have used the proceeds in loans of unquestionable soundness, bank examiners have called their directors together and "bawled them out” for making such loans. Instructions from Washington to bank examiners are to compel every bank to call in every dollar of out standing loans not secured by good collateral or made against financial statements which indicate many times the value' of the loan. And in the case of debtors of long stand ing who have been unable to do much more than pay their interest (Continued on page four) Miss Hambley Cro wned ‘Miss North Carolina’ General Holiday Expected Stores Observe Holiday Along With Other Lines Of Business STUNT FLYING Plans have been completed for large crowds who will attend the automobile and motor cycle races at the Maple Grove tracks on Monday, September 3rd, Labor Day. At least seven big events are on the card for this part of the pro gram. There will also be stunt flying in the air. Mr. C. C. Gray who made a success of the July 4th races at the local fair grounds will ■ have charge of the races, and a rare vantage of this sport. A general holiday in the city has been forecast, as the merchants will close for the day, business gen erally will be suspended, although some of the grocery stores will pro bably be open for a part of the day as a matter of convenience to their customers. While the banks, post office and county offices will observe the day as a whole. The labor organizations have an nounced no program for the day, and the main events are expected to be the attractions offered at the fair grounds. Miss Cobb Victor In Political Race On the third ballot in the most heated race between women in North Carolina since they began voting in 1920, Miss Beatrice Cobb of Morganton Wednesday night was elected national committee woman of North Carolina’s Demo cracy. The widely-known publisher of the Morganton News-Herald won over Mrs. Marshall Williams of Faison, Mrs. E. L. McKee of Sylva, and Miss Mary Henderson of Chap el Hill. Mrs. C. W. Tillett, Jr., who was prominently mentioned for the post, was named vice-chair man of the party, and J. W. Wine borne was re-elected State chair man. Lawsuit Threatened Againstj Members First M. E. Church Members of the First Methodist ■church here whose signatures ap peared as underwriters of a bulletin published regularly as a church or gan by the pastor, have received a letter from a lawyer in Winston Salem, John C. Wallace, notifying them that two of his clients, Milt D. Hinkle, owner and manager of the Teaxts Rangers Rodeo and W. F. McCanless, prominent local cot ton mill owner and member of the city council, have been damaged in excess of $20,000 by references in the bulletin of July 29, 1934. The letter asks that the matter be taken up with the Winston man to effect a settlement out of court, i The references which brought] about the action concerned a ro deo show which appeared here on August 1-4 under Hinkle’s man agement and at the fair grounds just beyond the city limits owned by Mr. McCanless. Members of the rodeo company and those sponsoring it were re ferred to as criminals and even "Dillingers” and stated that 'if our officers of the law arc worth their salt, no such criminal per formance will be held.” In re ferring to the air show previously held, the bulletin likewise said "even the public roads were closed by outlaws who pretended to be officers of the law.” Rev. W. A. Newell,.pastor of the church, in the bulletin of August 5 said he was editor of the bulletin "and personally responsible for every word printed in it.” DOLLAR DAYS WILL BE HELD NEXT WEEK Preparations are going for ward for two big trade in Sal isbury days on next Thursday and Friday, September 6th and 7th, which will be known as "DOLLAR DAYS’’ and in which practically all of the merchants of both Salisbury and Spencer will participate in, and offer many various bargains and in ducements to the people of the cities as well to the people of the county and rural sections . This event will be well worth coming miles to share in the many bargains that will be of fered in practically every line of merchandise. STRIKE CALLED FOR SAT. A nation-wide strike in the cot ton textile industry has been called to start at 11:30 P. M., Saturday night. The call was sent out Thursday morning to the more than 500 local unions, affecting some thing like 425,000 workers. Local unions in this section art making plans to co-operate 100 pet cent it is stated here. Labor Union Vote To Support Proposed Strike Textile union workers of Rowan county have informed headquarter; that they are with the proposec strike committee 100 per cent. Re solutions to this effect were adopt ed at a meeting attended by 200 oi more workers. At a meeting of the Centra: Labor union, the proposed nationa' textile strike was indorsed and th( labor hall on Fisher street was pro offered as strike headquarters foi this state should Salisbury be- select ed as the location. A committee composed of C. A Fink, president of the Central la bor union, C. P. Barringer, F. N Cuddihy, J. A. Pinkston and J. W Rideoutte was selected by the tex tile workers in this section in the conduct and handling of the strike In an open discussion at the meeting, it was stated that indi vidual members of the labor unior regretted the necessity of the strike but felt that certain evils in the industry had reached the poinl where amicable adjustment througl arbitration was not possible and that the only way to cure the con ditions was to bring the matter be fore the administration in Wash ington by means of the last re sort—a strike. Local Girl Wins Legion Beauty Pageant H. E. Olive, Lexington Attorney, Chosen Commander OFFICERS ELECTED Miss Esther Coleman Hambley, of Salisbury, beautiful daughter of Mr. and Mrs. W. H. Hambley, was [named "Miss North Carolina” for 1934 at the American legion beau Jty pageant which featured the fin lals of the convention held in [Greensboro Tuesday of this week. She was crowned at a ball in her i honor Tuesday rftjght by Julian Price, president of the Jefferson Standard Life Insurance Company. The runner up was Miss Edna Taylor of Washington, who was '"Miss North Carolina” for 1933. I Miss Katherine Lowdermilk, of Jla? 1W’ W3S WinnCr °f thU:d The beauty pageant, and the ball t honoring the queen at the King I Cotton hotel, were final events in 'the annual convention of the North j Carolina legion and auxiliary. More than 1,000 convention visitors and residents viewed the pageant at the stadium and fully that number packed the hotel ballroom. The dance was a courtesy to the legion of Jefferson Standard Life Insur ance company. "I just can’t thank you enough,” said the demure and petite Miss Hambley when asked to speak a word after Bryce Beard, of Salis bury, former state legion comman der, had presented her with the crown and a great arm boquet of flowers. Wearing her crown and carrying the flowers, Miss Ham bley was escorted into the King Cotton Ballroom, wnere an eager crowd awaited, by Dr. Macon He witt, of Siler City, and received congratulations „from every side. [At the stadium it was apparent from the beginning that the little bru nette from Salisbury was the fav orite of the public. The judges concurred only after careful con sideration and their decision was popular. Miss Hambley, 17-year-old [daughter of Mr. and Mrs. W. H. Hambley, of Salisbury, was grad uated from high school in June and 'is enrolled for the fall at Brenau college, Gainsville, Ga. She is five feet two and tips the scales a little under 110 pounds. She has (Continued on page five) Doughton Thinks Byrns Will Be Next Speaker Congressman R. L. Doughton, in Concord Tuesday for the re union of the Barringer family, told newspaper men that he thought Rep. Joseph W. Byrns of Tennes see would be chosen speaker of the house in the next congress. "I am for Byrns,” Mr. Dough ton said. "He is the majority lead er for the house and is well quali fied for the important post of speaker. I have nothing against the other candidates but I’m sup porting the Tennessean.” Mr. Doughton plans to open his campaign for re-election to con gress on September 15 th at Boone. NEWS BRIEFS ■ 1 i LOCATE 39 CCC CAMPS IN NORTH CAROLINA The Civilian Conservation corps announces that the number of camps for North Carolina has been, increased from 3 5 to 39, to be 220-man company units. Nearly 8,000 men are to be enlisted in the contingents for this state during the winter. This feature is re garded as the President’s chief hob by and was the first emergency act he asked of congress after the bank holiday. DREXEL MAN A SUICIDE Thomas Louis Buff, of Drexel, shot himself to death Saturday at the home of his sister, Mrs. J. O. Zimmerman at Asheville. Despon dency over ill health is thought to have been the cause. GASTONIA GETS FUNDS FOR HOSPITAL The Public Works Administra tion at Washington included Gas tonia of this state for an allot ment of $22,000 in the' construc tion program, to be applied to hospital. SHERIFF’S SON IS SLAIN Demon Cox, 23, is being held in the Surry county jail in connection with the killing of Will Hall, Jr., 21 -year-old son of a deputy sheriff of Wilkes county who was aiding his father in making the arrest when he was fatally injured, sup posedly by Cox. GERMANY EXPECTS SAAR REGION An election is to be held in Janu ary in which the population of that rich region known as Saar will vote on the question of a return to Ger many. This territory is a great dividing contention between Ger many and France, and Hitler is urging France to be friendly while the Nazis directs the settling of this big question which has kept alive warm hostility between the two nations. AUTOMOBILE FATALITIES Fred Beard, 32, hosiery mill worker of Ffickory, was killed Sat urday night when walking along the highway at Valdese when he was struck by a passing auto. Joe Coley, young white man of Wades boro, was also killed Saturday night when the car in which he was rid ing plunged in a gulley at a sharp turn and overturned. The latter is survived by his wife and one child. E. B. JEFRESS STRICKEN Edwin B. Jeffress, chairman of the highway and public works commission and president of the Greensboro News company, had a sudden attack of vertigo at his home in Greensboro Sunday morn ing when preparing to take a bath. His removal to the hospital reveal ed that the attack is hemiplegia, and that his entire left side is af fected. He returned last week from an automobile tour with his family in the mid-west, and was gone 12 days. He was thought to be in the best of health, and much concern is felt for Mr. Jeffress over the state. TO THE TABLE LAST Diner (examining menu): "Chicken croquettes, eh? What part of the chicken is the croquet te?” Friend: "It’s the part that goes on the table last.” Only Two Days To Pay Taxes County Delinquents Are Reminded That The Time Is Short Today’s issue of the Watchman contains the final publication of the list of delinquent taxpayers in Rowan county. On Monday, Sep tember 3, the property represented in this advertised list, will be sold at public outcry, at the courthouse door, in Salisbury. Those who have not had their names removed from the delinquent list, have just two days in which to make settlement. Most of these delinquents per haps expect to wait until the last minute to make settlement. It would seem that that is their in tent, by the few who have come in to pay up. But the time of final settlement creeps up rapidly. Since the start of publication of the list, very few have had their names removed by settlement of their taxes. Those at the sheriff’s office charged with the collection of county taxes are disappointed that more have not come in anc paid. The county needs the money, [and it is due and should be paid. There probably will be the ex pected last minute rush, but those whose names appear on these lists are reminded that the time is short. Owing to Monday being a legal holiday, it is likely the sale will be postponed until the following day, Tuesday, Sept. 4. Prosperity Grange To Present Play On Saturday night, beginning at 8 o’clock, members of Prosperity grange will present a play, "The Man That Left the Farm” at Pros perity school house. The comedy is a three act play. A string band from Albemarle will furnish music between acts. The public is cord ially invited to attend. Members of Piney Wood’s Sunday school will serve ice cream for the occasion beginning at 6 o’clock. The proceeds from the sale of this will be added to the church build ing fund. Come and bring your friends with you. SHOULD HAVE DIED LONG AGO Aged Man: "Well, smoke and chaw purty strong and I’ve alius et anything I could get my hands on and I never take a bath and I ain’t never been to a doctor.” ( Specialist: "Hold on. There’s |something wrong here. According to the statistics you should have been dead 40 years ago.” Exams Be Given To Appraisers Those Who Fail To Be Quietly Let Out With out 'Publicity OFFICIAL SAYS Some of the 15 5 -odd appraisers of the Home Owners’ Loan corpora tion in North Carolina and 77 in South Carolina will probably find themselves out of jobs before long or, at best transferred to work of a different character within the HOLC organization in the Salisbury and Columbia offices, if such jobs can be found. This information was learned from Philip W. Kniskern, appraisal A adviser to the Federal Home Loan ™ Bank board, that special examina tions have been given to all those listed on the HOLC records as ap praisers. The examinations were held re cently at several places in the Car olinas and were carried on without publicity. Special examiners from headquarters journeyed to the two [states to give the examinations, which were taken in writing by the appraisers. At some places school rooms were "borrowed” from local school authorities; in others the HOLC offices were used. The Carolinas’ examinations were part of similar tests given to the 8,000 appraisers of HOLC through out the country. According to Mr. Kniskern the examinations were very carefully worked out and were of a technical nature, so that none but a competent appraiser could pass them. He said, however, that a genuine appraiser should have no difficulty in meeting-the tests. "The examinations were design ed to disclose individual ability with regard to accuracy of valuation, de pendability, intelligence, profession al standing, integrity, experience and competence to deal wth unfor seen contingencies arising in apprai sal operations in the field,” said Kniskern. "In handling the 1,600,000 ap plications by home owners for mortgage relief already made to the corporation, probably no step has been more vital to home owners, to the corporation, and to the entire urban real estate market than the establishment of fair property val ues as the basis for the long-term i (Continued on page five) General Johnson Gets $9,000 Salary Hike Washington.—Recovery Admin istrator Hugh S. Johnson is receiv ng $15,0000 per year, the highest salary under the NRA, it has been learned. The salary now paid to the ad ministrator represents an increase of approximately $9,000 per year. Previous to the increase, John son was receiving $6,000 per year, a sum slightly under salaries paid his personal secretary, Miss Fran ces Robinson, NRA Counsel Don ald Richberg, and Alvin Brown, an assistant NRA administrator The increase became effective on July 1. I New Catawba Faculty Member Prof. Howard E. Slagen, of Tar reytown, Md., has heed added to the Catawba college faculty as assist ant professor of the classics, and will teach courses in beginners’ Greek and Lation this year, and be superintendent of the self-help pro gram for students, it is announced by President H. R. Omwake. The college opens Wednesday September 12, with registration for students.