The Big Stone Gap post. [volume], January 16, 1918, Image 1

About The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928

Image provided by: Library of Virginia; Richmond, VA

                
The Big Stone Gap Post.
xxvi' _big^qne gap. wise county, va? wednesday. ?1aViT^1^"^1^":===
No. 3
Farm Loan
Board
The following statement of
the Federal Loan Hoard was is?
sued by Socretury W. <!.
cAdod, Chairman of the Board,
on Dec. 21th 1 i? 1T :
??From the time of the passage
of (lie Farm Loan Aid a majority
of the private agencies engaged
in tln> farm loan business have
appreciated its advantages, and
are about t<> a?k Congress for
some minor amendments to the
Act which will justify their be?
coming members of th'o System
ns Joint Stock Land Hanks. A
very large majority of country
bankers throughout the Stall's
have also appreciated the advan?
tages of the new loan system to
the rural communities and arc
heart ily in favor of it.
"There has always been, how?
ever, a small minority of farm
loan men and country bankers
bitterly opposed to it, and these
interests have boen waiting for
an opportunity to attack it.
Knowing perfectly the condi?
tions under which the business
is done, they now think they
have found their coi'oted oppor?
tunity to attack the system.
Their lirst step has been to insti?
gate a call fora report of the
condition of the twelve Federal
Lund Hanks.
'??Ordinarily such institutions
tire provided with a surplus to
absorb the expenses of tin1 lirst
year, but under the act of Con?
gress cacti 0110 of these banks
was started six or eight mouths
ago with $750,000 capital and
no surplus. Hi,-y were obliged
to pay out their organization ex?
penses, including furniture, sta?
tionary, etc. They were obliged
to organ i/o t heir olliee forco,niid
(n employ and pay appraisers to
epprnise the lat ins of the appli?
cants for loans. They were also
obliged to create? Legal Depart?
ment, to examine the titles of
applicants. Kor at least six
months, they were paying out
money continously, with scarce?
ly d dollar of receipts. <>n No?
vember Jst, they had to pay six
moiitbs' interest on the bomb
they had sold. They are now
just beginning to receive the
lirst payments on the loans they
have made. I nder these condi?
tions, each Hank necessarily
shows what is technically balled
"nit impairment of capital".
The average ''impairment," so
called, is G per cent, but this
does not actually impair I he
strength or the solvency of the
Hanks, particularly as they have
received from Farm Loan As?o
cintions subscriptions to addi?
tional stork in excess of lfl,500,
000, so that their actual capital
is about $1,0011,000 greater than
it was when they started. Every?
body knew that this would be
so.
"On the oilier side, it should
be remembered that they have
assets which do not appear on
their books, mailt- up principal?
ly of two items. The first of
these is the large amount of in?
terests riccrtictl but not due upon
the loan they have made. The
second is the charges for ap?
praisement and determination of
title, payable by borrowers when
their loans are closed. They
have made appraisements and
examinations of title on loans to
the amount of over $100,000,000
of which only a little over $!><),
000,000 have been elosetl to date.
They are therefore entitled i?>
reimbursement of these charges
on the $To,o0ii,oiio of business
which lias ln-en examined and
approved, but not yet closed.
The business of these bunks con?
sists of borrowing money 1 l-'J
per cent, which they are under
no obligation to repay for 'JO
years, and loaning this money
nut at i> per cent or ?l per cent
on first mortgages limited to 50
per cent of the value of the
land mortgaged. Such it busi?
ness is inherently profitable, but
not until a reasonable volume of
it is on the books. The neces?
sary volume is in sight, and in I
process of being closed. As a
matter of fact, its volume is SO
great that several of the more'
active banks, if permitted io
continue their present rate of
growth, will he able to begin
the repayment of the Govern?
ment subscriptions to their stock
inside of IS mouths.
"The business of the hanks is
similar to that of life insurance
or lire insurance company, which
invests money to get profitable
business on its hooks. The cost
of gelling this business bus to he
paid before the resulting profits
begin to come in. To judge of
the profitableness of their busi?
ness by operat ions to date is like
asking n farmer who look posses
sion of a farm in October to give
a statement of n ceipts and ex?
penditures in May. Naturally,
his statement would show .til
outgo and no income. It will
I.'- remembered that similar crit?
icisms were directed tit the Fed?
eral Pcservc Hanks towards the
close of their lirsl year.
'?We are advised that the next
move of those who are seeking to
break the system down will be
to institute a suit contesting the
constitutionality of the Farm
Loan Ael. 'rite purpose of this
suit will be to alarn investors
who already bought Lends, and
to dissuade others from buying|
I hem. There is not the slight?
est reason to fear it, however.
The constitutionality of the Act
has already been passed upon by
the Attorney General of the
United States, and by former
Supreme Court Justice liughes,
who examined it critically for a
group of hanking houses who
u. not willing to recommend
llie bonds to their clients with?
out disinterested opinion from
eminent counsel of their own
selection. The system is so
strong, and its administration is
of such paramount importance to
the agricultural development of
the country, that attacks upon it
are hound to fail. It is only
proper however that this warn?
ing should he given, in order
that the farmers and all friends
of tllQ system should grasp the
sinister purpose that is behind
1 these attacks.'
New Members Get Important
Places.
In the organization of the
House of Delegaten: a| Uichmond
0. Henry Harmon of Tazowell
and Dickenaou, was placed on
the committee of Agriculture
and Mining, one of the most
important committees of the
House. Probably new member
was ever given bigger commit?
tee place.
Koland E. Chase of Dickon
son and Wise was selected us
minority floor leader, and wus
placed on the committee of
Priveleges und Elections and
U. Claude Pond, of Scott, was
put on the committee on courts
of Justice. All of Iliese are ex?
ceedingly important commit?
tees. Courts of Justice will I e
especially important at this
session in as much us it will
have the consideration of the
Now Code. The republicans
were given better committee
assignments this year than
usual.
Christmas ?ifts for the expe?
ditionary fotces aggregated 660
tons. Hundreds of thousands
of pounds of turkeys, purchas?
ed in eastern markets and re
frigrated on the ships, together
with great quantities of cran?
berries, sweotpotatoes, and
mincemeat went to the forces
overseas. In the United States
overy camp was supplied with
fresh turkey and t h e usual
Christmas accesories.
FOR PENT.?A first class
eight room house in Big Stone
(lap. See II. L Cummings or
address Ii. H. Hrttce, Norton,
Va.
2t
Mines Put Out
Of Business
Damage to Appalachian Pow?
er and Light Company, at
Roanokc, Stops Work in
Coal Mines In I he
Two Virginias!
Damage (tone last week to
the Appuldchia Power and Light
Compnuv, at Koanokc, has re
suited in suspended oporntiotis
in approximately [If ly coal
mines in Virginia and West
Virginia, which circumstance,
coming during the present cril
ieal shortage in fuel, has tili
gaged the reconsideration of
the authorities at Washington.
To partly remedy tlto damage
done .Mr. Kteltard Hancock,
chairman ol tin- local find com?
mission at Lynchbtirg, has sug?
gested a scheme whereby min?
ers rendered idle in properties
where operations have been
closed down may be rendered
useful by being transferred t<>
mines, in other sections. This
idea impressed State Fuel Ad
iniuintr.itor Uyrd so fnvorabl)
that be ut once commuuicutud
it to the department of the Fed?
eral Fuel Administrator, l)r.
Qarflled, It is thought prebti
bl? that the plan will he acted
on, not. only in Virginia, bul
that it may be adopted in other
sections ami other states.
The coal shortage in Virginia
is vor) acute, which is trite ol
practically every state in the
Union. Lahor troubles and rail?
road congestion have helped to
emphasise this uUforl?uuii
condition, In s p m e sections
of Virginia the fuel situation is
serious, und every section rigid
economy is imperative.
The government, through its
state fuel administrators, t- at
tempting to impress upon Un?
people of the states of the grave
necessity for conserving ami
for saving coal. The sovitriij
of the winter in lite New Film?
land states and in the far North
West has resulted in great suf?
fering by reason of Ilia alarm
lug dearth of fueL Compara?
tively speaking Virginia has
fared well, although wo are
still in the very beginning ol
the winter season, which prom?
ises to be unusually severe
Every shovelful of coal saved
in it home adds to the fuel sup
ply of tin- nation. There are
tunny million families in tin
United Slates. The saving id
a shovelful of coal u day fot
one family would mean little;
tint for a million families ibis
would mean much. The gov
eminent is sending forth from
Washington two slogans for tin
people and the coal Consumers
of America. One is lo unload
and to keep coal ears moving;
the other is (osave that shovel
fill of coal a day for Uncle Sam
Navy League
Notes
The ladies knitting for the
Navy League are doing valiant?
ly, giving willingly of their
time and labor so that our bivj s
may be kept warm. Having
boen allowed to furnish our
own boys with knitted gar?
ments our work has recently
all gone to them. We sent a
box to Anniston, |Alti., ami'
within the past ten days sent
a box of 3ti sweaters and 20
scarfs to Homer Adams a t
Camp Lee, who will see thai
our Southwest Virginia boys
have fitst choice. Of bite we
have equipped the following
boys upon their departure with
a sot of knitted garments:
John Allen Goodloe, ltoy
Bunks, Earl Willis, Walter
Nickles and Harry Jessee.
Boy Scout
Notes
(Seoul Carl Knight, Kilitor
Nexl week the Boy Scouts of
America will begin their work
us dispatch hearer for t h e
United States Government.
Hoys, your Uncle Sam wants
some work done in a hurry and
tliis particular work the Hoy
Scouts can do better Iban most
any other organization.
During the week beginning
Jan. 20th Scouts will distribute
literature that will reach at
least eight million people. They
will have special credential
cards showing their authority.
The following letter from the
President gives the commission:
Tin- White House
Washington
December. 3. 1!U7
I leaf M r. 1 liviugslon:
I .h'sir.- to entrus! the Hoy
Scouts of America with a now
and important commission, to
make them the government
dispatch bearers m carrying to
ihe homes of their columnnily
the pamphlets on the war pre?
pared by the Committee on Pub?
lic information The excellent
service perfumed by the Hoy
Seouls in the past encourages
me to believe that this new
task will lie cheerfully dis?
charged.
Sincerely yours,
Wood row Wilson.
\li (Joi 11. Livingston, Presi
lent.
National Council, Hoy Scouts
of America,
Washington, l>. ('.
Thus the Hoy Seouls will have
I ho high responsibility of ear
fyiiig to every home the mes?
sage of their Government con
corning the war and the cause
? ?in Army and Navy is defend
ilig Nothing t'Ollhl lie more
important than the task they
now assume.
The Sccut Oath in part is?"I
promise in do my duly to my
Country". Now that duty is
plian .'iid every Sentit will fol?
low the HlogUlll.
Every Scout to Boost Ameri?
ca, ns a Government Dispaieh
Hearer.
t) , I" I. 8th next, the Seoul
ii zuiimi will be eight years
old, mil on that day there will
be u Utting celebration to which
nil parents and friends of the
Seouls will be invited There
will bo speeches of inten b; to
all mid an insight of Scout ac?
tivities given lo the public,
Waleh the Hoy Scout Notes
in tin- l'ost for further particil
I irs
Class One Men Will Not Be
Given War Commissions
Washington, Jan 10.?Draft
men placed in class 1 of the se
lection servire will not be given
commissions in the npn com?
batant arms of the service mi
der a resolution adopted by the
War Council anil approved to?
day by Secretary Baker. It is
the announced purpose of the
War Department to draw light?
ing men from the class of re^is
trants and the department is
said to be determined to pre
vent further inroads upon the
Nation's lighting material for
stall positions, unless there is
substantial reasons for excep?
tion in individual cases due to
special qualifications of the
men involved.
Further expansion of the
commissioned personnel of the
non-cumbutant arms will be
made by drawing from men in
the deferred classes where
young men are needed.
W. S. Hurchett and daughter,
Miss Golden and Mr. and Mrs
Guy Muncey, of Wallum Creek,
passed through Pennington'
Saturday evening enroute to
Turkey Coye to attend the bur
I ial of their daughter und sister,
Mrs. M. M. Slump, who died at
Big Stone (lap early Saturday
morning.?Pennington Corres
poudent Appalachia Hrogres
si ve.
To The Chairman of all
Chapters:
The following telegram from
Henry P. Davidson, Chairman I
of the Keil Crocs War Council,
has just been received by the
Hon. Henry White, Manager of
the 1'otomic Division, A. K. O:
"In congratulating you on all
your elTorts for the Bed Cross
and in extending my personal
wishes for a Happy New Year
may 1 request thai the follow,
iog message be considered as
Bent to you personally and otli
chilly and through you to all
the Chapters uud members of
the Red Cioss in your territory.
Pleuse also givo this message
to the press and such other
publicity as you may consider
worth while:
'? I'he latest reports available
indicate that the Christinas
Drive for ten million new mem?
bers for the American Red
Cross bus resulted in the addi?
tion of fully sixteen million
names to its rolls 'The number
added to the more than six
million members before Christ*
inns Campaign makes the total
present enrollment fully twenty
two million, This is a magnifi?
cent fact, an expression not
alone of the patriotism but of
the tine sympathy and idealism
of the whole American people,
file Red Cross War Council
COllgrutultites and welcomes
every new member of t h u
American Red Cross. Like
wise it congratulates the olli
reis and old members of the
Organization who have been
unstintedly of their lime and
effort to make this Membership
Campaign a success. But the
wonderful achievement of en
rolling one fifth of the entire
population of the Lotted States
as .Members of the Red Cross is
less a triumph that is n call to
greater service. The Red Cross
i-- not merely a humanitarian
Organisation seperatd and dis.
'met from others, but it is the
liioblized heart and spirit of tin
whole American people. The
American Red Cross is carrj ing
ti message of love and Bympn
thy to American soldiers and
sailors und to the troops and
civilian population of our allies
in all parts of the world. It is
sucking to alleviate the Buffer
tug incident to tin? war. It is
seeking to shorten the war and
It is seeking to lay a foundation
for a more enduring peace when
tin- wai is over. As we stand
on the threshold of a new vent
in this hour of world's traget!)
there can be but one thought in
the minds of the twenty-twi
million members of the Atnorl
can Red Cross and that is to
serve and sacrifice as never be
fore."
.Mr. While begs me to send
this to you with his oomph
moots and the request that if
the message has not already
been published in your local
papers it be transmitted to
them at your earliest conven?
ience.
Yours very truly,
J. II PlIRDY.
Director, Bureau of Publicity,
Potomac Division.
Registered Men
May Be Inducted into Air
Service
While men registered under
the selective.service law are
not being accepti d at recruiting
otlico for enlistment in the
Aviation Section of the Signal
Corps, they may be inducted
voluntarily into service by their
local boards if they aro physi?
cally tit, suflicicritly skilled,
and not required to till the cur?
rent draft quota. They will be
sent to Cump Kelly, Tex., for
distribution into trades, train?
ing, and formation into squad?
rons, with ranks and salaries
running from $30 a month as
private to .^l a mouth as mas
ter signal electrician, food and
quarters provided by the Gov?
ernment.
Red Crosss
Notes
The- Work Room made, a ship,
meat January 8th, to Washing,
ton, I). C.
Boda Branch Bent: .128 pillow
cases, 78 shirts
Stonoga Branch sent:?it ta?
ble clothes, 08 napkins, 30 pair
[>f bed sheets, in nightingales,
12 dozen 1x4 compresses, 180
ilozon 4:<4 sponges.
Ionian Branch sent:?34
nightingales, 10 towels, 27 dish
towels, - dozen Ix l compresses.
Keeken Branch sent:?3 pair
pajamas. 2 hospital bed shirts
Appalaehia Branch sent: ?
101 napkins,11 operating gowns,
I operating caps, I operating
helmets, 14 pair of pillow cases.
Big Stone Qap Branch sent:
L'.'i bed shirts,8 operating gowns,
10 pairs or operating socks, 3
bath robes, 1 pair of pillow
oases, 83 dozen 4x1 sponges, 5
dozen of 3 inch outing flannel
bandages, 4 dozen 3 inch crino?
line bandages. 111 triangular
bandages, 62 abdominal banda?
ges, 13 many tailed bandages,
12 four tailed bandages,13 com?
fort bags.
The Work Boom will he open
Wednesday from '.i a. 111. till I
p in., ami Saturday from 1:30
to t p. m. instead of 1 to 0 p in.
Do not watt to lie invited to
work lint volunteer and every
woman and girl in town should
come and do her bit.
If wo do not have more
workers wo will have to clone
the work room. Keeping it
clean and the t'tte going is ex?
pensive and it will not pay to
op.-n it for only a few women.
Surely we do not want to stop
tins good work.
Come and bring your friends
British Summary Of Captures
And Losses In War
London, Jan. It).?'the war
Hire has issued a summary of
tin British captures and losses
in the war during L'I7. The
total captures on all fruits num?
bered I It,Ml prisoners and 781
guns. The losses numbered
28,3711 prisoners and 100 guns.
The items include:
Westernitheatre 73,131 pris?
oners; 5:11 guns captured, and
27,200 prisoners and 100 guns
lost.
Balistino 17,i;iti prisoners and
108 guns captured.
Mesopotamia I?.044 prisoners
anil 124 guns captured.
No guns were lost in any
theatre except the Western.
Train Service Cut Down.
The curtailment in train sur
v ire has already begun and will
go steadily forward until it is
reduced to the minimum that
is necessary for lite carrying
on of essential business. A
number of fast trains out of
, Botinoki: have been discontin?
ued and others will follow. The
chair car out of Norton made
it's last run on Sunday last,and
it is understood that the train
between Norton and Bluitield
which arrives here at one-fifty
in the afternoon will be discon?
tinued after the 13th of the
mouth. All pullmnns, a n d
chair cars are ott' all over the
country anil travel for pleasure
is being discouraged in every
way. It is likely if the war
continues long, every one will
have to obtain a permit to tra.'
ol ovor the railroads anil only
Urgent necessity will enable an y
one to obtain such permit.?
Norton Progress.
The Department of Agricul?
ture is urging poultry raising
to increase the food supply. A
bulletin "Back-Yard Poultry
Keeping" has been issued, and
may be securod without cost by
application to the division of
publications, Department of
Agriculture
There are indications that
I Mr. Iloovor's efforts will oven
j tually bring flour on speaking
I terms with the people.
I