Henderson daily dispatch., September 01, 1932, Page PAGE THREE, Image 3

About Henderson daily dispatch. (Henderson, N.C.) 1914-1995

Image provided by: University of North Carolina at Chapel Hill Library, Chapel Hill, NC

                
business better
IN STH DISTRICT
Richmond Federal Reaerve
Bank Optimiatic About
Its Territory
S. ;.J Va. Sept I.—<AP>— | m .
r: , rn-.ei • ri economic conditions in
V., ;:::h reserve district, which in
_ , Jt - N :h Carolina, were reported
monthly summary of the
y,i r; , r,.‘ :ve Bank of Richmond.
X»,i influences which appear to
y, tvr- instrumental in bringing
j- • -he i h.inne are the activity and
.ven.ent rn the security market
3 j *ne recent ris etn puces lor cot
• • ,t..i some other agricultural prt>-
i* *ai«i-
Writ- statistics .available for the
- ,-t Jul' IVAugust IS show little
cn , rtv.m recent months, the re
r ..viUeii nevertheless there l 3
-„.r. more ■ ptinnsm tnan was the
I'ievnmsly ,
T:.e summait points 10 the price
3 j.„: in ton. wr.oiesale and re
■ 'exes >i„i»i! o> department
. figure.- "the first checks
-.-i in niai.v months to steadily;
• . i..mmodity prices."
.c of industrial plants In
.i.-:iict the report said, have
IR , „i; iduitional workers and the
i. the tobacco markets in
? Carolina and the border belts!
Nv>i!h Carolina require the help of'
- r r :.i. hundred men.
r-\:. e nulls have increased op-'
t:y. . - time materially since the first !
c: Aasu.-t th,- report added, "and
,: de: -for their products have in
c:r.t*ed also."
A- l- customary at this season ot i
t.‘ f year the report said the circula- 1
oi K' dei a! reserve notes rose dnr-!
the f.i.-t month, "but member!
tanks m rural districts did not in
c.c.ise heir icdiscunts at the reserve!
tir.k a- they usually do when crops '
trii:. to move to market."
Members banks in the larger c*n-I
n vcever it was reported, slight- 1
, drcrea-ed their loans but increased '
tr.e.r investments between the middle :
ot July and the middle of August.
Peoi- to individual accounts showed a
seasonal reduction.
Fact- about July economic condi
t.uns were cited as follows:
0 n.meroial insolvencies totaled 173,
» n igcie-ate liabilities of 34.545.6602,
i :ea-e in number of 94.4 per cent
i u ,i t:-e m liabilities of 244.2 per
c * . inparison with 89 failures
e • i'i' I liabilities totaling sl,-
i. n July 1931.
•. -k *■ i textile industry now!
c .<;■•.«■:e-i better than it has been in i
rr.j i. ths although in July cotton 1
”":i in the district totaled on- j
...• bales, lower than the 144.- |
• used in June of this year !
> ; : cent less than 202.187 bales
cc -.-rU in July 1931.
quotations are now higher
:-j w*‘-es at this time last year.
?• e- paid for tobacco in early days
•' ”> i-te-ent season were about the
: i- those of last year on the bet
t «: i.i-e of tobacco, but low grades
i i r .r.cr higher than in 1931.
DUKE AND ELON TO
EXCHANGE CREDITS
E i. C ! t ge. Sept. I—An arrange
-~«r.- r. i- en'ered into between
L tnl Duke University whereby
trader.:- who wis hto ente trhe pro
*-«• r.t. schools at Duke after three
> ajs E:,,n may for the first year ir
► : r..t. work complete success
•- :.ave these credits counted to
• : tr.-;i A B Degree and return
E .. for graduation with their class
WINTER PEAS GIVE
PROFITS fN DUPLIN
c*-. > -viile Sept. I. (AP) —Ben
.-.o i of ♦he Mr Olive community of
i'-; .... co 111 1 y. believes in planting
• winter peas and then turn
• * ‘-•-' .n under as fertilizer for a fol
- vt.ii crop of corn.
’-'•jCounty Agent L. L McLen
• :ep.ti* found that his corn gave
• *.;■ .'ri Yield by one-third t Whe.fi
.* - l bn -wing the peas rathe*' tbgn
i >:i.no rcial fertilizer W*d'; used
LABOR $A Y
Vacation Fare*
(September 2nd-3rd
IIE.NDEKSON TO
' $ 5.00
v till.a 5 00
- i.iah
-1 IfOO
. - I.Viile ■F.OO
•“ sham 8.00
1 . 8 00
, .he 8 00
‘ -r ..e ...n 8.00
E 9 00
’ rid ile 8.00
" . Haven 9.00
"i - , . 9.00
>d a 10.00
E' > i • Jrande 10.0C'
E«’-,ton 10.00
Eet ■ r.g 10.0 C
b O' tersburg 10.00
'* " ' ‘Vim BencH 10.00
K ... ,< d 11.00
i. derdale 11.00
"* *-■ ■'••ld for nil trains Sept 2nd-Brd
1 '(i points south of Jackaon
'•mit.d midnight Wednesday,
•''•{•'ember 7th; All oher points
midnight Repteertber 6th
checked and stopover* al
! wed on other ticket*.
E‘-* Information See Ticket Agent
H E. PLEASANTS, DP A.
N. C. Ptoom* 2700
Y>s Odd Fellour* Building
Seaboard
AIK AAliilMi
D ** w>,t «*vea Food to Thousands
ence s Outetandmg Factor Among City’s Unemployed As
BOMITA WITT
e*knU Pku Wr44m
« >»P..»nce
Champion Milkmaid
*x
H Hr K
'WHBmf Mr * i
M ■ Jh§| & .
r J
fr
' if
Moot the champion milkmaid!
Cathryne Baltz of Joliet, 111., won
the title when she vanquished all
contestants at the Will county,
Illinois, picnic. The honor was
conferred upon her by the Pur*
Milk association.
SECRETS OF WAR
CHEMISTRY DISCLOSED --_ # _ W\ t\ pill pn _ _ _ NOBEL PRIZE
EXPLOSIVES, FERTILIZERS nYllßnrlnlrri fill todrs.bosch
AN Vater M a A nd E co ß a?by AlR ’ II I UHUr lIILU UIL ANDBERGIUS
HYDROGENATION «■ BB ■ MAMA.
«uno. r e,e.™„ th Q L D I R PL V HYDROGENATION SCIENTISTS
zlfr r LH Ij l n GETHIGHESTHONOR
drogenation provided for an unlimited H Sm RRH I Hi m ■ ufj/F HHi
supply of explosives and fertilizer. It
even promised a solution of the oil
~v - v “STANDARD” MOTOR OIL
.f l *- ' 'Caaohabg, the only oil, is now: two of them. Essolube, by hydrofining, com- Vg, £
; k.^- r y: ’\ ; available to every motorist at the price of bines all five qualities. There has been no ts
Jrf if ' j. ordinary motor oils. commercial method before hydrofining that
j* |=This oil is a result of the great hydrogena- could combine in one lubricant the good I
t * on discovery. Hydrogenation of atmos- qualities of these two types of oil.
pheric nitrogen was the chemical secret that Essolube is so superior to all other oils that J
enabled Germany to produce unlimited quan- we are not only proud to name it after its
" IMt tides of explosives and thus to “carry on” companion product in quality, Esso, “more '
Wm? years after the experts considered her con- powerful than any gasoline,” but we have !9
1 f tinued struggle impossible. replaced the widely known “Standard**
7 Hydrofining, developed by the Standard Motor Oil with this new product. mm tlfl^^BlHß
Oil acientists, it an advanced process which Hydrofined Essolube sells at no extra coat.
makes the hydrogenation of motor oil com- It is on sale at all stations and dealers of the Y vll BB
STANDARD Oil • I mercially possible. following companies: Standard Oil Company > I g/KKatfil
• Hydrofining gives Essolube all the five of. New Jersey, Standard Oil Company of •
■ A
ALUlllKba eaaentiai qualities for complete lubrication. Pennsylvania,Standard Oil Company of Loui- } 1931 Nobel Prize for chemistry b*.
Paraffinic oils have three of these essential siana, Standard Oil Company, Incorporated in ; tween Dr. Bosch and Dr. Bergius, both
HYDROGENATION • N«phlh«mcoil. have ColonialBe»conOil Compony.loo.
■■ * U ■»" « W i ,j the most important single achievement
m| M of modern industrial chemistry—the
—— |H fixation of hydrogen to reproduce by
i B mb bbb synthesis variety of natural basic
*Tka development of the process of Rp ‘ enormous commercial tm
dwfleinff (the catalytic hydrogenating W
of petroleum) motor Although not collaborators, and only
(Maaally regarded of t ' ve greatest by chance both same
Importance (MH dj Caß I lIBR|RPr ancient of European
tha aorld. X \ romance, the activities of these two
Tht American rights proeasa v * * , scientists followed converging lines al
iWtm tb* Fsrbeninduitrjs «f ~ ‘ ! t V*,' ' K V> .. , , chemical industry merged in tbo
rkn A Ftve-Star Motor Oti, fives you tk* story of the great hydf achievement of commercial hydroeeoa-
■ Yxao. stung invention which makes Essolube possible. Ash for it at your “ Standard** statrosi. tion of a new typa.
I »Siii«@ON-TON I
i * J
MRIDB3WQN, flt. C.J DAILY DITOATC& THURSDAY, SEPTEMBER, 1,1932 1
; ed.
A careful survey made by a group
of business men tallies with the as
sertions of social worker who declare
that the patience of the people ha
been amazing. "The pcoppte are too
patient," welfare workers say "Re
cently. when grooers cut off our cr:-
d i. and we were forced to put our
ciienta on bread anu milk rations ,we
received not a slng'a '■■omplaint. If
.»ey would »t-a;re a few demonstra
'ions perhaps e/».-v>'n« would be arous
<: *° the serio-j i.-ss of the situation".
Hundreds of unemployed men and
women and their dependents are be
ing fed in nine municipal cafeteras,
scattered throughout the city. In she
homes the average allowance is 15
cents per day for each individual
Detroit hopes to postpone the spread
of malnutrition as long as possible.
Methods of Relief
Impressed by the patience of the
unemployed. Detroit bankers and in
dustrial tycoons fall to take seriously
rumors of a lower mirij.c-class revolt
’o protest against leng continued un
employment. To insure a minimum of
unrest financiers are concerning
themselves seriously with Detroit s fi
nancial plight. Their interest is es
sentially in balancing the city's bud
get and. since that means making the
continuance of relief possible, they
believe they are doing their part in
caring for Detroit's thousanls of un
employed .
Some time ago a group of business
men, including such motor magnates
as Edsel Ford. B. C. Hutchinson of
the Chrysler company. Alvan Mac
cauley of Packard and Alfred P.
Sloan. Jr., president of Generai Mot
ors, met to consider what could be
done to avert municipal catastrophe.
Sloan was made chairman. 3lnce that
time the city budget h*3 b??n reduced
and taxes cut. Working in conjunc
tion with a committee on city finances
headed by Ralph E. Stine. Detroit
I banker, they have devised means of
aiding the mayor In h.i struggle to
| keep the city from defaulting and
thereby crippling all of Its functions.
I The veight of the Sloan group has
enabled the Stone committee to push
through its recommendations.
When the committees first began
their work they found *53.000,000 out
standing in short*-u>rrn notes, owned
by baaks and tndlvkluals, and *287,-
000,000 in bonds and maturities, souv
enirs of the boom days in real estate,
from 1919 to 1928. These same real
tors recently cjwJeed the city anxious
moments by forcing a special election
on the budget, seeking to leducc- it
from *76,000.000 to *61.000.000. If this
cut had been appproved by the voters
it would have been thrown into the
courts on a plea of unoonstituticnality
and ail taxes would have been tied up
for 18 months just long enough to
bankrupt the city and raise taxes for
'the ensuing year, because of the spe
cial assessments which could Waive
had to be levied. Depite ihe fact that
the realtors attempted to put over the
budge cut by the “Lorelei" promise
of "lower taxes" the voters defeated
it three to one.
Bankers Aid City
On July 1, 1932, the city had *200,-
000 in cash on hand. These: two com
mittees. along with 10 of th-_« largest
taxpayers In Detroit, and (he mayor,
met with Chicago and New York
bankers .recently, in ar. attempt to
get them to freeze *40,000,000 in short
term notes which they held, ii’his
the bankers agreed io do. and, in turn,
the large taxpayers promised to ad
vance *7.000.000 in taxes due in De
cember at once. Forty per cent of
this sum has been paid ar. 4 * the re
mainder will socyi reacn the munici
pal coffers, now that tiio budget cut
ha* been defeated. Also the'’group
agreed to petition the legislature to be
permitted to sell tax anticipations
bonds, and to market *20,000,000 worth
KDSEL FORO ' CEN ERAL MOTORS cStHCI^ANT) al!oVt AW^ED
P. SLOAN. JR.. PRESIDENT OF GENERAL MOTORS.
of those bonds, taking special assess
ment bonds as security.
Industrial leaders say they “feel en
couraged 1 ’ by the apparent failure of
Communists to sway the vast major
ity of the unemployed and by Ifhe pa
tience of the American workman.
These industrial leader., declare they
feel secure as winter approaches. True,
one banker reoently admitted that he
never goes to bod wilhout first plac
ing a revolver underneath his pillow
but for the most part, they “fear no
immediate trouble.”
Laugh at Story
One representative of a large group
of manufacturers laughs ai the ru
mor that industrial concerns, fearing
to have good marksmen jobless, have
been employing policemen as fast as
they have been discharged by the city
for reasons of economy.
“Truth of the matter is." he de
clares, "when the mayor was forced
to discharge a number of policemen
he felt sony for them and asked the
industrial leaders to find work for
the men. Edsel Ford agreed to hire
thorn, not as private policemen, who
could fire straight and true in event
of trouble, but as common workmen
in his factory. <
“Conditions are bad here, tme, but
we're working our way out and we're
confident that there wi,i be no revolt
of worker* in Detroit thrs winter. ’
PAGE THREE