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PAGE FOUR HENDERSON DAILY DISPATCH ■rtIMUM A——< I*. llti FlMlnM Brcrv AftanMa ■ ■ !■»> budbmon dispatch co* no. • * IS Y»aag Street DNRT A DENNIS. Pres, and Editor 11. L. PINCH. Sec-Treaa and Baa. Mfr. TELEPHONES Editorial Office ||| Society Editor .. SIS Oval area Office SIS The Henderson Dally Dlapatcb la a Biember of the Associated Proas. News* paper Enterpriae Association. Booth* arn Newspaper I’ubllehera Association and the North Carolina Prsaa Associa tion Ths Associated Press is exclusively entitled to use for republlcatlon all aews dispatches credited to It or aot •thsrwtse credited In this paper, and also the local news published herein. All rights of publication of special dispatches herein are also reserved. SI HSIRIPriON PHICKb. Payable Strictly la Advaaeo. paa Tear M.SS ■lx Montha I.l* Three Months 1 SO Per Copy .st NOTICE TO SUBSCRIBERS. Look at the printed label on yonr paper. The date thereon ehowa when the subscription sxpires. Forward your money in ample time for re newal. Notice date on label carefully and if not correct, please notify us at •nee. Subscribers desiring the address •* their paper changed, please state In their communication both the OLD and NEW address. Sstlssai Advertising ItepreaeatatlvM FROST. LANDIS A KOHN Park Avenue, New fork City; It ■oat Wscker Drive. Chicago; Walton Building. Atlanta; Security Bulldlug at Louis. Entered st the post office In Hender son, N. C,, as second class mall matter fcwuilq— MSaitlßiniA Bbß 4 August 6 WHO SHALL ENTER —Not every one that saith unto me. Lord, Lord, ahall enter into the kingdom of heav en; but he that doeth the will of my Father which is in heaven —Mat thew 7:21. August 7 LORD SEES ALL: -For the eyes of the Lord run to and fro throughout the whole earh, o show himself sron? In behalf of those whose heart is per fect tward hurt —2 Ohron. 16: 9. WIN BORNE AS CHOICE. Gubernatorial Nominee Ehringhaus announces formally and publicly that his choice for the State chairmanship of the Democratic Executive Commit tee is J. Wallace Wlnborne. of Marion, and requests the committee to name Mr. Wlnborne for the office. It seems that Nominee Reynolds for the senate has not finally made up his mind as to his own preference, but expects to do so by the time of the executive committee meeting next Tuesday night. Mr. W’inborne is not so well known to the State as some others who had been mentioned for the high office, but those who know him say he has the capacity for rendering the party •ffective service during what prom ises to be a hard campaign, both In the manner of finances and In fight ing off the opposition. Mr. Wlnborne Is reputed to be a man of exceptional executive ability, and that Is what la needed in a time when there is urgent need that every penny shall gor as far as possible. If Mr. Winborne Is the ultimate choice of the executive committee for the chairmanship, he will undoubtedly be given the cordial support of men and women of all shades of opinion in the party ranks. United effort will be needed. Democrats are greatly heartened, but they should not forget that over-confidence has lost many a battle It would seem that almost any man agreed upon could be expected to give of his best without regard to his primary preferences. There ought to have been agreement long ago on the matter of a chairman, and the partvs fortunes will be the bet ter cared for if this haggling and seeming disagreement can be gotten behind at the earliest possible time. AN IDEAL STATUS. Speaking of public taxes, the most ideal situation that has come to our notice in this part of the country lately is that in Rocky Mount. The board of aldermen there has just vot ed a 1932 tax rate of 32 cents, which is a reduction of ten cents from the charges last year, with an additional rate of 42 cents for the city schools. The total thus is 74 cents on the SIOO valuation in property, and represents a cut from 84 cents last year. It will be claimed that Rocky Mount owns its utilities. Including its water works system, gas plant and electric power and light system. But the cost of municipal operation Is not laid up on these services as a scapegoat, which is a vicious practice wherever observed and ought never to be tolerated by the citizens of any com munity. The city manager estimates that Rocky Mount's gross Income from its utilities will be $450,000, even though $20,000 has been lopped off the an nual gas bill for consumers and $9 000 off the annual water bill. It was done by strict ecohomy In government, dis continuance of all permanent Improve ment programs except those deemed absolutely necessary, and the skilled management of city affairs. The city manager further claims that Rocky Mount is favored by its municipal ownership of utilities. He referred to published reports that white way lights in Raleigh had re cently been reduced to SBO per year Per light, and said that in Rocky Mount the coat for similar lights, from current produced by the city, is only $37.50 per year. Another feature of the Rocky Mount . situation is that city employees have , taken only one wage cut, that of ten percent, and none of them has been thrown out of employment No fur ther wage cuts are expected and no wage earners are to be discharged. Rocky Mount Is to be congratulated on this remarkable showing, which Is all the finer when It is remembered that the city has a protected cash balance of $96,000 In local banks, no outstanding unpaid obligations to ■ worry over, and a materially reduced demand for money the coming year. The city hardly realizes there Is a de pression, so far as its municipal gov , eminent is concerned. NO BANK FAILURES. Gurney P. Hood, State commission er of banks, reports that there were no bank failures in North Carolina In July. It was the first month In 1932, . and even further back, that the record was clean In that respect. AH of whicn is a good sign. It is indicative both of a returning con fidence on the part of the public and of an effort on the part of the banks to set their houses in order for them selves. as far as possible. Except for the wave of panic and hysteria that swept across North Car olina around the first of the year, and in the closing days of 1931, there would be many banks today in opera tion that have closed and are either In liquidation or have reopened with some sacrifices on the part of both stockholders and depositors. Such things are costly to every one con cerned with them, and for that rea son. as well as others, are something to be avoided at all hazards. The State Banking Department Is rendering a genuine service both to the people and to the banks In its sympathetic, helpful attitude toward them In these times of crisis. It is seeking to function as economically as possible In administering the af fairs of closed banks, to the end that creditors may fare as generously as they may, and its cooperation is ex tended to the banks byway of show ing them how a compliance with the State banking I&wb will save trouble and loss to every one. Possibly the passing of a month without a single bank failure in the State is an evidence that the worst is over In this economic cyclone; cer tainly It is ground for optimism. AN INDICTMENT. Dr. Archibald Johnson. In Ch*rlty and Children, recently brought an in dictment upon the church people for their failure to show their colors and do their duty In these days when it la incumbent upon every man and woman to stand up and be counted. The writer intimates that the church people, by their- hypqcricy and egg shell religion, have been as much re sponsible as any one else for the pre sent plight of humankind. The church folks have professed thus and so and have stopped with lip service. They have one sort of religion for Sunday, and another sort, or none at all for the week-days. Many of them will greet you at church on the Sabbath day and Monday morning hide behind the cor ner to knife you when you come along. That is a hard thing to say but it is true. Dr. Johnson's observations are quot-' “ d by the North Carolina Christian Advocate, and are passed along here: ' "We have not arrived at our present condition economically and politically at one jump. Fcr twenty-five years and more we ha been advancing to ward what many are now calling a crisis for America and the world. The two great political parties of the Unit ed States did not write a plank on. prohibition until the very word be came hateful to the people, not only* as it relates to the Eighteenth amend ment but as it relates to the ten com mandments as well. In fact there was no thought of repealing the eight eenth amendment until the ten com mandments had already been annul-: ed In the thinking and acting of the! oeople. We religious people have led n the onslaught on prohibition. We have held God’s commandments in contempt. We have In our churches'* members who have defied the laws of I God for years and more lately are ■ defying the laws of man. Let those >f us who are gneved, and at present dunned at the present conditions, ex-' xmlne ourselves and see if we are not 'he leaders in the spirit of irreverence. When our children saw that we had no reverence for our Father’s com-! mands and held them in contempt. hey saw no reason why our com vn&nds should not be held in contempt. The irreverence of God begot irre verence for parents and the laws of ‘he state. It Is a long way back to ‘he reverence of our parents but we tiave got to go; the Booner we start i he better. And when we get back to the place of reverence we will find ten thousand noiseless Christians who have never bowed knee to Baal.” HENDERSON, (N.C..) DAILY DISPATCH AUljfrST 6, 1«82 Bargain Days Won’t Last Forever, Babson Declares Time Now To Sell Equities and Buj Stocks, Economsit Thinks; Points to Stock Market Opportunities; Dollars Mean Working Men BY ROGER W. BABSON, Copyright 1932, Publishers Fin ancial Bureau. Babson Park, Mass., Aug. 6.—The recent sharp up-rush in prices of stocks, boDnds, wheat, and other com modlties emphasizes teh fact that bar gain days won’t last forever. Those who hoard currency instead of mak ing purchases of goods and securities will wake up to find that their cur rency has depreciated in value where as goods and securities have appre ciated. In other words, as prices rise, the buying power of the dollar will fall, and good and securities will be worth more than Idle money. Oppor tunity has knocked at the door of the buyer longer than usual during this depression; but those who delay too long will find the bargains are gone. The way both to render service and to get its reward is to buy when markets are grossly undervalued tu.d sell when they become overvalued. In this period that means to buy com modities. stocks, and bonds -with dis crimination of course, but neverthe less, to buy. Time To Sell Money and Buy Equities The outstanding successes finan cially, intellectually, and artistically have been men who darad to break away from the crowd and follow the dictates of their own judgment. No student of history can be pessimistic today. He knows that prosperity will return just as it always hns after the great depressions of the past, and that prices will rise. Indeed, we may I now be rounding the turn, as the re cent encouraging action of commodi ties, bonds, and stocks tends to show. The man who comes out of this de pression stronger than he went into! It will be the one who now refuses | to follow the pessimists and who ac j cumulates goods and securities instead of currency. The time to sell goods and securities and to buy money was in 1828 and 1929. The time to sell money in exchange for goods and se- I curtties is in 1932. Such great opportunities as exist today occur not more than once in a generation. Wholesale Industrial com modity prices are now the lowest since 1914. Agricultural commodities are 57 per cent below 1929, and the lowest in the twentieth century. The average price of nearly 800 commodities of all classes is 33 per cent below that of three years ago. A number of indivi dual commodities are selling the low est in this century and some of them lower than they were in the depres sion of 1893-1897. Whether the recent upturn means the final low has been passed remains to be seen, but it should serve as a warnin gto those who are delaying needd purchases that current exceptional bargains can not last forever. Here again discrim ination must be used as all commo dities do not move alike. Stock Market Opportunities. At this writing the stock market has shown encouraging gains follow ing closely on the heels of firmer bond prices. Here again is confidence that the security markets are tending to stabilize. Whether the final low point in the market has been seen or not, , it is foolish to overlook the exception al bargains that can be picked up in good stocks. Notwithstanding the re cent sharp advance the Dow-Jones in dustrial stock average at the present writing is at 1914 level, whereas the value of corporation assets and the total wealth of the country are far greater than they were in 1914. Some stocks are selling below their net quick assets and some indeed at not more than the cash holdings of the company. This cannot last and the Investor who waits too long will miss the bargains. Whetner it Is a mere co-incidence or not, the fact remains that all of the major business depressions since the Civil War have ended between the months of May and September. In the 1873-1879 depression the market reach ed its final low point in June 1877. In 1884-1885 the bottom was reached in June 1885. In the period from 1893 to 1896 the final low point was reached in August 1896. In the 1920-1922 de pression the final low was reached in August 1921. Some observers point out that if business is to recover this year the slock market will reflect it during the next two months. Working Dollars Mean Working Men. I recognize that not everybody can buy. The purchasing power of the mass of the people is low. However, there are many who could buy if they would and if those people would get over their fears and make somewhere their normal purchases, the depression would soon be at an end. Idle dollars whether in the banks or hidden in the home, mean idle men. Working dollars, actively circulating in trade, mean working men. Afford employ ment and the purchasing power of the masses will at once improve. The trouble is not lack of total money in I the cuontry. There is just as much money as there ever was. The banks are full of money; cor porations have very cash bal ances; the craze for money instead of goods has Increased the total cur rency outstanding from $4,764,000,000 in July, 1929. to $5,745,000,000 today. The trouble is that this money U not circulating fast enough. This is shown by the decline in check transactions which were running at the monthly rate of $77,919,000,000 in 1929, and are now at the rate of only $29,000,000,000. By buying needed goods and attrac tively priced securities at this time, people can do more to give employ ment and relieve suffering than in any other way, Not only will they better themselves by so doing, but they will perform a great service to their fellow-men. Reward (or Service Rendered. The only way to make money In the long run is by rendering service, and this is as important with our money as with our lives. The profits that are sure to follow purchases now , will be the reward for service ren dered in helping to stabilize prices. 1 afford employment, Improve business, and relieve human suffering. Further more, in buyttlg either stocks, bonds, or commodities, the greatest rewards will be obtained and the grAtest ser vice rendered by buying only in those companies which are themselves per forming a real service and are operat ed by men of character. Business as estimated by the Bab sonchart is now 28 per cent below a year ego. fJewM *1 JAMES*ASWELLF By Central Press) New York, Aug. 6—The “intellect uals’’ of the tow nare more than ever talking Russia, radicalism and revolu tion . . . All those 1 know are of 9 the type Trotsky branded “red rad ishes” —red out side, white is to say that when -1 ever one of them falls heir to a hundred dollars, caipdtaHwm, for ail its faults, gets another convert... It is always amusing to see one of j these champions of the Five-Year Plan an his dingy village apartment, shouting down the Rockefellers and heaving for the proletariat—and then observe him. as in one case I know, after a story of novel of his has bbrought in a pot of Hollywood gold. ...He shifts his principles with cha melon rapidity and*yp»nuj for “ade quate police protection"... The situation is reminiscent of a ham: hoofer who used to cry out against the "sheer lufk” which cata pu*ps the big-rimers into Broadway Jghts...Now. with his own name in bulbs, he is the staunchest defender of hard work and talent as the only requisites for success .. And ont! vidletuC ‘•Vwdlsti red’’ was known to Insist at many a longhaired soiree, that all he waited and hoped for was a chance (i. p., Jhe money) to go to Russia for g00d 1 ... Not long ago a miserable capitalist uncle died and bequeathed ihim 25.090... At the pres- ! CROSS WORD PUZZLE | M i i J i •| , TLW '3 14 is 16 v 17 16 O ~ZO 21 £2 23 |p ~2A '■ pp/ 25 2e 27 ~ Wfy 23 23 ' 3S. 33 34 35 36 "37 40 41 "4F m 44 vy/s AS 46 yyZ 47 M m 43 49 SO SI ~S3 I p uza ————— ——— ACROSS !—A composition s—Speck5—Speck rpi.) 14 —Vehicle 1 1 Part of head 1 ’—Sea duck 1 -To loathe 1 -Park viscid substance t'—Carpenter's tool 21— To impair 22 One time !4 —To put on ■ 2 a—Heavy cord 2d—To detext 23 A Journey ' so—Depart *l—Present tense o! the verb to be $3 —To split 33—A support 38—By 40 —A song 42— To estimate 44 A short sleep 45 Polish 47—To rush 48_The golden thrush gn— A dweller p 2— Born 53 A wand • 54 — Arborescent plant (pi.) 63 —To renovate • f <DOWN * 2— To stage 8— Rested 4 —Open surface f, —An equal 7—A cereal plan* ‘ $—A shaking j 9 To bar { (2—To fccattar. i4zrt f 4N - - ' *- ----- The Lion’s Share .. ! ent time he is staying at the most amabe and expensive dekuje hotel in New York—"geittjng a taste of bourgeois comforts before I devote j myself to the workers of the Soviet”.. Raspberries!... THIS LOONY TOWN Places I tike to go: Germantown, in the East Eighties, on a hot summer afternoon to hear the Bavarian wait ers tn chalet restaurants, singing as they serve... The club on a boat at Oyster Bay. ..The Rye Bath and Ten nis club, for -tthe Saturday dance.. .The Starlight Roof of the Waldorf, with the steel weather top rolled back like a convertible sedan... Prospect park in Brooklyn, to loaf through cool aft end of a ho*, swarming day... There’s a Winnie the Pooh associa tion. built around the $80,08Q.000 In dustry which grew out of A. A. Mil ne’s whimsical fictional bear...Win nil e and Mickey Mouse two mos* prosperous ideas to amuse chil IS—lgnorant 14—A mark made by a blow IT—To undermine 20—To leave 23—Keen 25—A report *T—a weight 29—Rowing implement •2—To trouble •3—Plunder •4—Gratuity •s—Plague 36 Display 37 The first after the nmt!i S3—Part of the »»oe^ 41—To perform 43—A vat 45 Narrow valley 48— Brown 49 Over (contr.) 51—Prefix meaning not Answer j «• Previene Puzzle nfTprnsm « c R Ts fAlNlsMglfd ESlfe ve alsTt^lleSl i PNppN I ITKagfejlL A) ] £!£ gtyj ivISlillIeIo!' j ' ' rsr ” ' fSlglTlAUl 9. 5« \ »T TlglsKai.l elcJ Po| a! £5Aa £ a plEiNEaPlArn Reduce "SJeEialt Id WoIaNtF '-TnUIrUH . _ •** •-y t dren ever -to come to life... The Win nie outfit supports elaborate head quarters in Fif-th avenue... , Sights for Heat-tired Eyes: The children at the Stadium concerts in the park, stopping Vheir game* in awe as (he deep wash of Siegfried music rolls over toward ithe twinkling town .. The containers for frozen tidbits, smoking with cold from dry ice. in the hands of hundreds of shirtsleeved young men on the Boston Post road . Th eorange beverage stand with the real orange tree out front. Subway track walkers, carrying a 60-pound sledge, are paid 36 cents an hour and work from 10 to 12 hours a day. . .There are 14 different ways by which t(h»e innocent; pay stations may be chiseled out of Its righrfful nickel.. .A man in the Bronx spends hie spare time figuring out such fraudulent methods; he is, how ever, honest., and used to be | n the employ of the telephone companv, charged with just that task—making coin boxes crook-proof. TODAY TODAY’S ANNIVERSARIES 1788—James Brewster,. celebrated Connecticut wagon manufacturer of a century ago, early railway promoter, philanthropist, born. Died Nov. 22 1868. 1809—Alfred Tenrvyaon, famous Eng lish poet, born. Died Oct. 6, 1892. 1811—Judah P. Benjamin, U. S. Senator from Louisiana , Confede rate cabinet, officer, who went to England after the war and there be came a great lawyer, bom in British West Indies. Died May 6. 1884. 1820—'Lord Stratchcona, Canadian statesman, railroad builder, bor n in Scotland. Died in London, Jan. 21, 1914. TODAY IN HISTORY 1629—Gathering of the first church of the Congregational order to be formed in America, 4/ Salem, Mass. 1890—First world electrocution—of William Kemmler, convict ed of mur der, at Auburn. N. Y. 1930--Bodies of the Norwegian An dree and his companions, los* since 1897 when they started on a balloon polar flight, found near Spitsbergen. East Coast Stages The Short Line System Special Rates for Tobacco Curers Going to Canada For Your Convenience Going North Ride the Bus—Convenient. Quick, Clean, Comfortable and-Cheap ALL TICKETS GOOD UNTIL USED From the Following RATES Fetal* To BUFFALO DELHI BIMOCO DETROIT Om Round One Round One Round One Rcco* Way Trip Way Tr%> Wky Trip Wey Trp hkNDERSON, N. C. 15.65 23.50 18.90 28 35 18.56 27.85 17.50 NORLINA, N. C. 15.10 26.65 18.35 27.55 18.00 27 00 17.50 SOUTH HILL, VA. 14.75 21.40 17.60 25 75 17.15 25.75 17 50 ?* ?s BUSES LEAVE DAILY RUNNING TIKE; 26 Hours Durham or Raleigh to Buffalo The Ikist Coach Stages hns pul three rules i„ offer* (wporfeiltv f-i 3* benefit of the tobacco curers who are going to CanruL. ’ Wd * BAST COAST STAGE* the Cheapest and A& —— Fout* Phono 18, J*J TODAY’S BIRTHDAYS U. S. Senator Wallace H \V-v:e Jr., of Maine, born at Lewiston Ms ‘ 45 years ago. i U. S. Senator Fhtllips L GoM«- s borough of Maryland, bom there 57 : years ago. Miller Reece Hutchison of New , York, great inventor and electrical i engineer, born at Montrose. Ala , 5* I years ago. Mrs Edith K. Roosevelt w"dow of i the President, born at Norwich. Conn . 71 years ago. l Ruth Suckow, novelist, born r Hawarden. lowa, 40 years ago . Post Wheeler of Washington Min ister to Paraguay, born at Oswego .V Y.. 63 years ago. Paul Claudel, France's Ambassador to the U. S., born 64 years ago TODAY’S HOROSCOPE The child of today will be prer* cious and rather re«h. T*''™ i* * determination to hold to one's cn beliefs and principles that is good w far as those principles ate good ant not too rigidly enforced on other peo ple, which wtll be liable io brio* trouble and opposition. ASHEVILLE —And Othtr— W. N. C. POINTS Bargain Fare* From Raleigh—Durham Asheville $8 50 Black Mountain 8 00 Brevard 10 00 Flat Rock 9 50 Hickory 5 50 Hendersonwille 9 50 Lenoir 6 00 Jake Junaluska 9 50 Saluda 9 50 Tryon 9 50 WaynesviUe 9 50 DATE OF SALE: For all trains Aug 20th, FINAL LIMIT: Midnight Aur 28th Southern Railway