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HENDERSON DAILY DISPATCH N>Wi>ll Rvttf iKitMN M« 014 ■« >• V—SJW »«*•*« _ ■BERT A DkIMMIM. PrM »B« MM 0L L riMJM. M-lrM! sad »«l. iff. TKIIIPRmZS •Utorltl OfitM ■■■ —— i'« ■Mitiv MUor Uik* *»* Th* Header*"* t>«tly Dl*»*tch la • ■MHt of ihr Aaaooiatrd i’re**. N*wa r twfitri i>rla« A»»«v*'mtlCin, Kouth- Ifß KtaipafW "HUimior* Awod»tloi mm 4 th* aorta Carot;-* rr*aa Aaawcla lh* A*««ct*t*d lr*** la aatalrf iw nn fur rnmuitcatioa all 4>»patc!« • ii*4iip4 !•’ It <*f *°l MUrrviK ci<4il«l »n tut* paper, and ai*o in-- •»«**! puMiahed h*r*»a. All i<*m* «•( •MWlv'tlivo of •P*'-laJ •lapat'h** bruin *f« *l*o r*a*rvad. aiHMßimv.l I*MM KS. J r«a*ai« Mtkilr la Ad*aaea aai »*«r ait Moniui *.*• |ki«« Moatba *•*• Pat C*v» Mtrl ICK TO SI Mat MIMMRS. L- ok at lh« printed laliel on jroul paper Th* thereon *h«>*» *k«» ta* anhacrtpiioa nplio. Forward lu*r aaouv> in anpn time for r*- atwal. livt.cr am* on laoei carefully a>i if aot Correct, p.raae notify u* a« Sac*. Buu*crib*r* dcairina the addieat a* tiM*lr paper .'h;-nacd. pleaa* atain 1l iaair cvutiau nival loa beta th* OUI and NEW addcaaa ■ailaaal Adirrllilat Kepre«*atatl**a I'M Os I'. LtNUil * KuM.V MS Para Avtnuc, .Sew lurk City; II Htat tracker l>rl'*. Chicago. Waitoi. •aildlus. Atlanta; decjrtty buildia* at Lrouia. Bnler d »t*t*ie poai office la H*nd*r h»a N 'J.. a * sacond claaa mall mi'.tn m DOING WONDERS:—o God. thou ha.it cast u# off: O restore us again. Thou hast made the land to tremble; Thou haat showed thy people hard things that fear thee, that It may be displayed because of the truth. Psalm 60 1-4 OvSSI-PRODUCTION DWINDLING According to a report to President Hoover by Secretary of Commerce La inoit. the glut of over-production at last la dwlnoling la this country. St far had stocks of manutactured goods dec|lned at the end of the fiscal ye&i that” the situation was declared akin to that of IMS, and tnis condition was hailed as a favorable omen pointing to busthess Improvement. Surpluses in raw materials were, In general, un d: minished. <• The rather surprising statement was made by Secretary L&mont that industrial activity in this country, al though one-fifth less In the 'last fis cal year than In the one immediately preceding it, and one-fourtb below the unprecedented volume of 1926-29, still was of greater volume than in 1920 and 1922 and 31 percent more than for the depression year 1921. Yet the American public has about become convinced that this Is the worst de pression the country Ir-s ever expert* enced. We think so because we climbed to such pinnacles of luxury during the boom years prior to the 1929 crash. The very fact that America is so miserably discontented with her lot in these times is an omen of assurance that our people will not forever tole rate the lower living standards to which they appear to be descending. They will see to it that there is an about-face somewhere along the line. It will not be surprising, once the monotony is broken, if prices go sky-' rocketing and manufacturing quickens its pace at a dizzy figure. Once the vicious circle is cracked and an open ing made for a start back toward nor malcy, it may be so rapid as to be surprising The groundwork is well laid for just such a performance, be cause of the fact that reserve, stocks and supplies of nearly everything hav v dwindled to such low levels as that l.ttle is lefi, in storage to meet anything like a widespread general demand. If we have not yet bumped rock bottom, surely that cannot be much further dewn from where we now are. KEEPING THE FAITH First of the year payments of prin <ip«! and Intel est on outstanding bond issues by Henderson and Vance coumty are wholly in keeping with the record and reputation of the local government units. So far as we have ever heard tell, neither the city nor the county has ever defaulted on an obligation Incurred in the way of funds advanced for public improve ments or for any other purpose. This docs not mean, of course, that the crushing burden of the depres sion has not been felt here the same as elsewhere. We have had to contend with low prices for agricultural com modities. short-time operations In our factories, unemployment, decreased earnings and business failures. The government units have been hard put to it to hoop their hoods above wa ter, but those who have been in charge have managed in some way to scratch up the money to pay interest claims .-ind maturing bond obligations. The credit of both city and county' is good, and why? Simply because they have recognised their honest debts and paid them. That is the honorable method of procedure. We may default yet, but the fact is we tsswt 4 mt Can The First National Be Salvaged? We raise the question, can the Firs' National Bank be saved for Hender son? We answer with an opinion but only an opinion t that it can. Bj that is not meant that the bank un der the same name should be resur rected. nor necessarily that it be just as it wa o before with strength thal would now tide it over, even as 11 might have done had that been furn ished before the closing. That is a technical matter for the stockholders and for such support as might be available to bring the condition about There are many reasons why thi bank’s set-up should be preserved The principal of these la that it would release the funds of depositors and possibly also save the stockholder!! further loss by an assessment. Then, too, there is the consideration of the gentlemen active in the bank, who have been (deprived of their work and remuneration by the debacle. ff local interests could peol suffi cient resources to turn the trick, it would be an Ideal solution of the problem. It may t>e possible that one of the leading chain banks now oper ating in the State, and wholly within the State, would be Interested in serv ing the community, though the local ownership plan appears more attrac tive, and might find larger support and be more beneficial to the city and county. While the former would be more desirable, the latter certainly is more to be preferred than a liquida tion. The cost of any liquidation Is terri fic. It Is a heavy drain upon what ever assets of a bank may be left aft er a failure. And that loss falls di rectly upon the stockholders and de positors and nowhere else. They are left to hold the bag. There are some substantial business men and women, and citizens ip general, in the First National, but we venture that not one of them Is of a mind or can afford to lose the money that has been tied up in the closed bank. Treatment accorded to debtors of the Institution, virtually ail of them pre sumably in this city or county or in the vicinity, could easily embarrass many people. If there is to be a li quidation. the receiver named will in all probability come from another lo cality and be a man who neither knows the local situation nor cares about it beyond a mere perfunctory interest His business is to liquidate and liquidate is what he will do, hew ing to the mark and allowing the chips to fall where they will. If the process he pursues cripples or hamp ers, that might be a small pea in the pot so far as he is concerned. The status of business in Henderson is not the receiver's concern; It means no more dollars and cents in his pocket; his pay goes on just the same. Henderson people do not relish the have not so far. Wise management of public affairs through the years has kept local gov ernment units from becoming swamp ed in a morass of financial burdens. Probably no other city or county in North Carolina has been better safe guarded In this respect than have ours here. It Is a credit to the men who have been in charge, and like wise an honor to those who have strug gled to meet current obligations. There has never been an orgy of reck less spending in Hendersdh or Vane' county, and the result is that we are able to carry the bonds and pay the Interest as they fall due. Bond buyers in other years have taken our securities when offered on the market. They made their pur chases in good faith. And city and county, to their credjl and honor, have kept that faith up to this good hour. NORTH CAROLINA DID II Governor Gardner’s recent Saturday Evening Post article on fiscal re forms has, as was to be expected, drawn favorable criticism from high quarters. His story on how the State “stopped the advancing tag burden in Its tracks” and “turned the curve of taxation downward” has created no little interest in political circles. Moreover, other journals besides the Saturday livening Post have taken up the chorus of applause, and so on the , commendation continues. One of the finest comments on the governor's contribution, and one which has attracted widespread at tention, appeared In a recent Naw York Times editorial. Here is what that great newspaper said: “These are the days when every government- local, state and nation al—is trying to balance its budget Such outstanding examples as MU* wttukee, Teuueat.ee and North Caro lina are Interesting to taxpayers every where. Milwaukee’s taxes are low its public order excellent and Its treas ury solvent. Tennessee, after an urn HKNDKRTON, TN. OJJSSILY DISPATCH* .WEDNESDAY, JANUARY 6,1932 *7 t thought of suoh % procedure an that. But if the First National is not sel ■ Y*l*<l through strong and determined r effort, w# may find ourselves faced - with such a situation. That is an - other reason why tt is highly desir- I Able that liquidation under direction of the comptroller of the currency in ; Washington should be avoided If at all . possible. i The matter is one that will affect i conditions generally here, and all the > people have an interest at Make, whe ther they were stockholders or depos i Itors of the First National or not. No , community the sise of Henderson can i have a million dollars of Its money [ tied up without every one suffering to i some extent as the result Numerous rumors of steps that have been taken In the matter have been , going the rounds this week, but ao far as we have been able to learn nothing of a definite or concrete na ture has taken place. Poss.bly noth ing can be done until the audit of the bank has been completed and a receiver named. But there is no rea son why plans should not be under consideration so that the organization may be ready to click and do it quick ly when the time does come. Does Henderson want the bank sal vaged, so that stockholders’ and de positors’ funds may be released to them? - Does it wish the bank to continue in operation under a new charter and a new name, or is an out side chain bank desired for Header son? Or do our people wish a liquida tion with all the cost and loss entailed, and which cannot be avoided? There are ample resources in this community to meet this emergency. These days bring a succession of calls and demands upon those who are able to meet them. One crisis fell upon us when the First National closed. Now there is a new responsibility In the necessity for conserving Us business for those to whom K belongs. We met the situation over the week-end in a manner that scarcely left anything to ;be desired. Henderson is capable of meeting this new urgency equally as well. Let It be remembered that we are serving ourselves as a com munity in salvaging the First National Bank. Prospects were that we could make the grade here through the depression until tne failure of the bank queered the plans of a lot of people. Nothing that could happen in the city now could have a more wholesome effect upon all the people than to save the structure of the clos ed bank. It is a challenge to our men J and women of affairs. It Is another J opportunity for them to show the stuff of which they are made, which hith erto has proved sufficient for any emergency, and which we are persuad ed can meet the needs of this hour [ just as heroically. usual experience with high flnanc*- and the usual spending spree, balanc ed her budget somewhat violently. In the opinion of Governor Gardner of North Carolina, who writes about i' In the current Saturday Evening Post j h,s stat « beet dealt with the common I problem. * .* No miracle has been performed,” ‘ according to the governor, and other states, for local reasons, might not be j able to do what the North Carolina ■ legislature has recently done. But | what was done is worth attention of all American taxpayers and the ad ministrators of public affairs. In the summer of 1930 Governor Gardner be gan to prepare for the general assem bly of the following year, and the tax bills were ready when it met. They believe in North Carolina that i prepared lie a® course they followed is partly responsible for the present con trast between tne concuuon of their treasury and that of the federal gov ernment. During the last two years 29,780,000 of the state debt was paid off, and 20,000,000 will have been paid on the bonded debt by this adminis tration. But the specific contribu tions of the general assembly to the situation as revealed In 1931 were these: They “stopped the advancing tax burden in its tracks” toy reducing state expenses “and turned the curve of taxation downward” at the same time; county jurisdiction over roads and schools was abolished, and their centralisation at Raleigh cut the pro perty tax $12,000,000. This year, pro perty which in 1921 paid 38 per cent of the state tax will pay 52 per cent. No longer may a small board tn town or county “confiscate the pro ’ perty of Its citizens tßrough unllmit . od and unrestrained power to mort . gage its future.' The local govern ment act, which makes a state com mission the supervisor of all local fi ■ nancing—though the people by vote , may give the approval which the com* • mission has refused—changed all that. "Am if he heard the incredulous North exclaiming at .the new spirit in the South to centralise at the state capital and to subordinate local self government, Governor Gardner con cludes his recital: “New conditions demand new remedies; for new wine, new bottles.” Speaking on the earn subject of growing costs of local gov ernment. this is virtually what Bern ard M. Baruch told the South Caro lina legislature last spring." [j&Y# By Central Press New York, Jan. 6—Marginalia of a Madhattanlle: The fashion in homilies has shifted so that now they are saying. “This —y—■ 'ii i is the* toildeM. winter since ’88.” . . . Excepting a few flurries and squalls the aca son has been • amazingly Iceless. JhHH Girls who bought those If tie bob fur jackets haver been able to wear them through months when they were afraid they’d have the shivers. That Memnhis store which is to sell drugs over the grocery counter re versing the practice of many drug em poriums, has created ripples felt all the way to Manhattan . . . Next they’ll |be vending ginger ale and aspirin In the hardware bazaars . . . But not all drug stores have branched out - . . Jarehow’e, In lower Second avenue, founded by the first woman pharmacist in the town, sticks firmly —even boastfully—to serums, vaccines hypodermic syyrlnges and the com pounds of mortar and pestle. “Tobey," the pampered poodle with the $4,000,000 playground, has grown thin and pttlsh since his mistress, Miss Ella Wendell, died last spring In the strange, shuttered Fifth avenue man sion at which visitors stare, rtmem berlug the Nineties . . . “Tobey,” I hear, ate Christmas dinner in the ser vants’ quarters, for the first time in his life ' Didn’t like it much, either , . . Another victim of re duced circumstances. CANDOR A customer in Joe's one of the rougher and readier speaks of the Yorkville district, expressed skep ticism as to the quality of goods on sale. “Is this real liquor?" he asked. “Listen!” the bartender said ear nestly, leaning actans the gleaming mahogany, “more people Were killed by that pre-war dynamite than ’ve ever croaked from Stuff you get now adays. Take u« here. We just cut the goods enough to make it easy on the stomach." PUZZLES What has become of Brooke Johns, with his sleek. hair and his eloquent mandolin? . . . And E. M. Hull, who wrote “The Sheik”? And of Theda Bara, first of the vamps? HOP, SKIP AND JUMP Amateur experts in feminine psy chology predicted slight sales for that cruel “truth mirror" which makes mountains of moles and continents of smudges on complexions . . . They were wrong . . . The 335 pieces in the Frledsam collection, willed to the Metropolitan, total In value above $10,000,000, or more than $33,000 each on an average . . . Three young women who are studying psy’chiatry I ell me that there is a certain cure for all mental diseases if the patient can be had before the symptoms ap pear . . which loaves me so be fuddled that I am on the point of getting a few treatments myself. Washington has lost a great sub ject for conversation since Dolly Gann and Alice Lohgworth made up their social precedence mlxup. The past-holiday sag is noticed on (he faces of the crowds . . . Christ mas ‘ savings clubs, for 1932 are or ganizing (or is It agonizing?) ... I discover this column is being run un der at least five different headings. . . . A letter from California the other day praised ; my singing over the radio and asked whether I'd come out and entertain a discussion group ... If I sang they’d have a topic to last a year and I’d probably have grapefruit poisoning . . . Never again will I intimate that magazines are buying yams; 59 letters to dat asking which magazines, and of coure I can’t sneak up for editors by name ... To repeat; good stories always find a market sooner or later, and all successful magazines are forever or the lookout for new talent, no matter who tells you differently. TODAY TODAY’S ANNIVERSARIES. 1807—Joseph Halt. Postmaster-gen eral and Secretary of War under Buchanan, Judge-advocate-gen eral of the Union Armies, bom in Breckenrldge Co., Ky. Died tn Washington, 1. C., Aug. 1. 1894. 1811—Charles Summer, noted Massa chusetts U. S. Senator, orator, reformer and champion of anti slavery. born in Boston. Died in Washington, D. C., March 11, 1874. 1823 Heinrich Schbemann, famous German archaeologist born, bom. Died Dec. 20, 1890. 1824 — Thomas M. Cooley, great Mich igan jurist, born near Attica, N. Y. Died at Ann Arbor. Mich., Sept 12, 1898. 1837 —John C. BroWn, reconstruction governor of Tennessee, Confed erate major-general, railroad builder, bom in Giles Co, Tenn. Died at Red Boiling Springs, Tenn, Aug. IT, IMS. * <_ <- * 1832--Gustave Dore, famous French artist, born. Died Jan. 20, 1883. 1836—Truman H. Safford, noted ma thematician and astronomer, born at Royalton Vt. Died at Newark, N. J., June 13, 1901. / TODAY IN HISTORY. 1795 —George Washington married' to Mrs. Martha Custte. 1821 -Indianapolis named. 1912—New Mexico admitted to the Union. 1919—Theodore Roosevelt. 26th Presi dent, died at Oyster Bay. N. Y. TODAY’S BIRTHDAYS. Carl Sandburg, noted American poet, born at Galesburg. 111., 54 years ago. Tom Mix, actor, born San An tonio, Tex., 52 years ago. Joseph Medltl Patterson. New York and Chicago publisher, born In Chi cago, 53 years aga >. U. S. Senator Duncan U. Fletcher of Florida, born in Sumter Co., Ga., ' CROSS WORD PUZZLE ■■ —" - r~|* [=> H~M5~g~p r ~pTTy-Mp 1,, k b R~~ Is Wtoz It jjr* j—Jrg ■HHP : ~Uhh zy zt> Z 9 to is *z~ W bnjH^ —~i^|s s W ■■■ 60 & SF ™ ™ S 5 W~~wmrt — ——Bn Hi 1 H 1 11 Ml 1 , ACROSS DOWN » The wing cm* of * 1 Swimming bird* < Card plpa b**tls Bin 5 Surge : Hindustani 14 Pithy □*} 10 Coagulate * Sharp *5 Specie* of hawk H Indian 4 Comprehending *7 Moisture 15 In.vpiring super- * Families W Possessive ease of i* stltious fear • Species of ferret 43 Turn to th* right l« Collect taxes 7 Mlstak* 44 European countr> 17 Paradise * Selvedge of clolb 47 Blip* away lit Analyze gramma- 9 Bld * B**n«" Thoae who apply tically 10 Enema drug* habitually 15 Th* whole calendar 11 »*»• Mu rt of 52 Kest t# Terminations of a Jurisdiction 54 To be contingent day 12 Elliptical 57 Shining mineral’ 12 Cantilever H An ancient city 5* Bkina of calve*’ 14 Implant 21 S * l down •» writing beada *« Incubate 23 Hced *® Separata 77 Not full 25 ru * >id stream *1 A criminal Mat to Moo -• Throw 02 Otherwise 12 Pauses 21 ’ n * e Roman See la «* African tip* U Thrust ita temporal aspect ** OlrTs ntnt » Portuguese coin 29 a,v * «*trea*e *< Clown I* Ostrich-like bird ... « nctl “ * 7 ■■• H ***rd 11 Anger -* 1 V<!, T **»ll 70 Oornutn titlh 15 Grieves at Aaswer to Previous Paul* k * 14 Large flat boat | u l aTTJMygTrTI i i■* :< Shade of grecu H :» Tiny 15 Not thick h= (7] |^M^4=pMC^lsiSnj »l Scotch htgblandu } ' 'p 1 I 1 j * t |/i I , 13 Cears iA if |A^WpdSlrrteff|aM|m » Snake ■-s Point at jS Lukewarm nSITu tnßcliJnLruiiff J* A doubter p Hi Branching form - [Ojßrr^^BMHHjßflßßßterfr"”t|C“ inflorescence ' 5J Misfortunes [l|L.|E|D^mi^TpTfkjfs.jCaTr>,] 13 Long for MBxJT*. I. jw I Enclosure V Dccome blended |l is Bolcly MMi/Br*iiJilifßTk' 1 <}^| • 4 Not salsa r~M _| *» Small sand iiar , ’' toM WAbßla-jla^^sfe All Set For a January Thaw 73 years ago. Alice H. Wadsworth, noted Ameri can anti-suffrage worker, born In. Cleveland, 52 years ago. Jean K. Mackenzie, missionary, born at Elgin, 111., 58 years ago. Horace M. Albright, Director of the National Park Service, born at Bishop Cal., 42 years ago. Stella Benson, noted English Novel ist, born 40 years ago. TODAY’S HOROSCOPE. A kind and sympathetic nature, adaptable to circumstances. With good commercial abilities, high-mind ed and suave, the fortunes will pro bably be good. Under certain circum stances, however, there Is danger of being wronged by relatives, owing to the sympathetic nature. Os all the forces at the disposal of humanity, faith has aways been one of the most tremendous, and the gos pel rightly attributes to it the power of moving mountains. FORECLOSURE SALK By virtue of the power of gale con tained in that certain deed of trurt, executed by Nllia Gill, on December 29th, 1930, recorded In the Office of Register of Deeds of Vance County, in book 162 page 290. Default having boon made in the payment of the debt therein secured, on the request of the holder of the same I will sell by public auction, for cash, at the court house door In Hen derson, N. C. at 12 o’clock noon, on sth day of February 1932 to the high est bidder, following described mil property: That certain tract or lot of land in Vance County, North Carolina, be ginning at a stone on the Ea*t aide of Rockspring Straet or road near the Northern limits of the town of Henderson, in Vance county, four hundred feet north of Wyeoff a corner, and then said lot • lies on the North side of said street or road as laid off two hundren and ten feet front and run thence back at right angles from said road, between parallel lines two hundred and ten feet so a* to em brace and Include one acre. Being the same property as oonveyed to NILa Gill, on December 29th.. 1930, by Irvine B. Watkins, trustee. This sth day of January, 1932. IRVINE B. WATKINS Trustee. “““ESHS3I tS9 H. K. H. Pattkaaca flasesaene, N O- J. T. Smith & Sous Phono 377-W- seaboarFalrl LINE RAILWAY TRAINS LEAVE HENDERSON AS FOLLOWS NORTHBOUND No. 1*8—8:51 A. M for Richmond, Washington, New Ywi - connect- Ing at Norllna with No. IS arv'T | tag Pertameirih- Norfolk 12:** J* M. with parlor-dining car service l 4—l#:to a m for Richmond, Nor- I feflt, Washington, New York. I*2—9 41 p. m. far Iktani Washington, New Ink 8—8:28 A. M. fer Pertsmeelh-Nct MR. Wash Ingle*. New Tvd 12—2:52 P. M. fer Norfolk end Washington. SOUTHBOUND W* 198—8 M 3 A. M. Vm Savannah, Jut ■mvflto Tampa, it, Pr 3—3:98 P. M. Fer Raleigh, Sanford Hamlet, Colombia, Savannah, Ml ■Demi, Tampa, St. Petenbnrg. 185—7:55 P. M. Par Raleigh, Hamlet Savannah. «aahscnvitta, Miami. Tampa, St. Pctenbwg, Attonta, 8—i:« A. M. Fee Atlanta, Btrm mgham. Meenphln. 11—8:17 P. M for Ilauk-t, L'oliua bia, Savannah and Jacksonville Par mfcrmaticn erui mm H. a. Puma wta, RUHR. M. C, « R O cwn TA, wmmmm. ft. c.