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Henderson daily dispatch. (Henderson, N.C.) 1914-1995, September 17, 1932, Image 4

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■rtaMlshad i»Q«< 1H 114.
ri>lf>»l AtHMu Bto«f(
s«fch» By
■SIVBT A DBNNU, Prea. and Kdlter
It. L. FINCH, 8«c-Tr»a* and Baa. Mgr.
Editorial Off lea ISO
Boolfty Bditor Ut
Bualaaaa Office ltd
Tha Henderson Dally Dispatch Is a
■tmbtr of tha Associated Press, News
paper Enterprise Association. SaPtfe
arn Newspaper Publishers Association
and the North Carolina Press Associa
Tha Associated Press Is exclusively
entitled to use for repuhllcattoa ail
aawa dispatches credited to it or not
otherwise credited in this paper, and
also the local news published herein.
All right* of publication of special
dispatches herein are also reserved.
Payable Strictly Is Advance.
One Tear U N
fix Months I.M
Three Months I.M
Per Copy .M
Look at the printed label on yonr
Paper. The date thereon shows when
the subscription expires. Forward
your money in ample time for re
newal. Notice date on label carefully
and if not correct, please notify us at
ones. Subscribers desiring the address
•a their paper changed, please ststs In
their communication both the OLD
and NEW address.
Metloaal AtreriMsg Hep resent stives
PROMT. I. AN 1)19 * KORN
IIP Park Avenue, New Icrk City; II
Bast Wacker Drive, Chicago; Walton
Building, Atlanta; Security Bulldiugt
Pt. Louis. ’
Entered at the post office in Hander
n N C.. ss second class ntail matter
September 17
Cod so lowd the world, that Ik gave j
his only begotten Son, that whosoever/
believeth in him should not perish, but 1
have everlasting life- John 3; 16.
September 18
Show me thy ways. O Lord; teach ire
thy paths. Let integrity and upright- i
ness preserve me for I wait on thee- -
Psshn 25: 4, 21. i
‘ i
1776 —Langdon Cheves, noted South I
Carolina state-aiian, Congressman, fi- i
nancler, and jurist, born at Rocky 1
River, S. C. Died in Columbia, S. C., ]
June 26 1857.
1788—John J. Abert, noted military \
and topographical engineer, born in ]
Shepiherdstown, Va. Died in Wash- ,
ington, D. C.. Sept. 27, 1863. 1
1802—Mercy B. Jackson, earlly Ame- i
rican homeopathic physician and edu- \
cator born at Hardwick, Mas 3. Died i
Dec. 13. 1877. 1
UkX) —Franklin Buchanan, senior 1
Confederate naval commander, born In !
Baltimore. Died at Talbot, Md., May
11. 1874. j
1872—LeRoy Eltinge, distinguished j
World War commander, bom at South ,
Woodstock, N. Y. Died at Omaha, -
Nebr.. May 14, 1931.
1630—Boston. Mass., founded.
1776—-Presidio of San Francisco,
1787—The Constitution of the Unit
ed States adopted.
1796—Washington Issued his “Fare
well Address" to the people of the
United States.
Col. Raymond Robin 9. noted social
economist and prohibit lon iat, bom on
Staten Island. N. Y.. 59 years ago.
Dolores Costello., scree star, born in
Pittsburgh. 26 years ago.
John L. Merrill, cable head, presi
dent of the Pan-American Society,
bom at Orange. N. J.. 66 yeaif ago.
Dr. William Carlos. New Jersey phy
iician-poet. born there. 49 years ago.
Dr. Leo S Rowe. Director-General
•f the Pan-American Union, bom at
McGregor. lowa. 61 years ago. '*
Hon. James a. CakJer, Canadian
Senator, born l n Ontario, Cana., 64
years ago.
This person will be inclined to rove,
but mainly from a desire to get away
from people. The disposition is unso
ciable and moy become misanthropic. .
•trjve t 0 overcome any peculiarity?*
fe»t may show themselves, and keep
the moral tone as high as possible
Careful training will do much for this
Prefers To Save Uvea Os Babfcfe Ttet
Are Born Rather Than Have
So Many Born
Raleigh. Sept. 17.—(API— Nbrtfc
Carolina “Cheerfully” yields one off
her “firsts" In losing the
of having the highest birth rata of
any state. Dr. James M. Parrott, Statg
health officer, said today.
According to figure* recently Ist
*ued by the federal census bureaij,
New Mexico now has more births
thousand of population than any state
in the Union. This State is now sec
ond but Alabama is only a fraettofj
lower and South Carolina is not far
"This is one ’first’ we cheerfully
yield to our neighbors,” Dr. Parrott
said. “While we devote more atten
tion to the important job of saving
a large number of infants who are I
Dr. Parrott said it was pleasing toi
note that in the same census report
there are eight states Including Vir
ginia and Maryland, that have a
higher infant death rate than North
“Look* a little like we have start
ad in for quality and conservation
(or awhile. Lot us hop# so at least,"
tha health offldW cotßßMnxtM.
Business Recovery Seen
In Gains For Securities
Reactions To Be Expected, But Turn Is Fundamental,
Bakson Thinks; Stock Usually Precede Better Busu
ness by One to Nine Months; Signals Are Clear
Copyright 1932, Publishers
Finance Baresu.
Babson Park, Maas.. Sept. 17.—The
312,000.000.000 rise in stock values
wince July 8 is more than a “flash in
the pan." It marks a fundamental,
turn in conditions, and is definitely
forecasting improvement in business.
Borne skeptics say the market rise
Is unjustified because business has not
yet shown much improvement. They
forget that the stock mar net usually
starts up from depression from one
to nine months ahead of general busi
ness. Admittedly the rise in stocks has
been very rapid—about 116 per cent
in two months. Resting periods and
reactions are to be expected; but the
turn is fundamental, and unless some
unforeseen calamity occurs, we have
seen the last of the extreme low prices
of June and July.
Forecasting Business Upturn.
Bonds were the first to turn up
ward, reflecting improved financial
confidence. The bond market rise of
20 per cent in two months is very
real, and means even more than the
greater rise in stocks. It is gradually
restoring the market for new financ
ing of business and construction. Re
member that bonds always lead the
wav to improvement after depression.
The stock advance followed closely
on the heels of bonds, which has been
the normal sequence of events In re-1
covery from all past depressions. The |
wholesale commodity rise closely fol- 1
lowed the rise in stocks, which is also
the usual sequence in improvement
from depression. I cite these trends
to show that, instead of being un
justified, the advances in securities
and commodities are the very things
we should naturally expect preceding
an upturn in business.
In the great depressions of 1873-79
and 1893-97, which are the two most
nearly comparable to the present one.
the uptrend in bonds, stocks, and
commodities at the time of the deep
est despair marked the beginning of '
business recovery, even though it was
three to five months later that the
gain in business became clearly evi
dent. History is certainly repeating it
self today. Instead of worrying about
tha big advance in securities remem
ber that they were abnormally de- '
pressed in the early months of this ‘
year. Even with the sweeping percent
age gain of the past two months aver- '■
age stock prices are no higher t/ian j
they were in March 1932 and are
about 25 per cent lower than they
were last October. Certainly the busi
ness prospects are better now than
they were a year ago, but the stock !
market, despite its advance, Is still
much lower. Os course, the very rap
idity of the rise since mid-summer
may weaken the technical position ; i
temporarily and cause reactions, but j <
It cannot be said that stocks as a :
whole are over-valued. Practically ■ -
m;\ j ’ls \JA *ll
li « 14
” “i"
"H" _
2 J&llWl-
H wn 1M EM
•—An Inlet
10— Brave
11— t» expose
12— To wut«
14— Injuries
15— Stockings
16— Foolishness , , v >
17— Anger
18— Becomes 111
29—EHs English (sthr.;
*l—River In Italy
w—Part es the America* <4bbr.>
25—To own
■ST—A civil wrong
•l—A head covering
82—Six aa« oao
85— Myself
86— Mineral-bearing; rocks
37—-A flat plate
*B—An animal's lair
60—tA mdp
t fa
B—Musical term
4 —Not new
8-Road <«fafcr.)
6—Pail bandies
everything Is worth what it Is now
selling for.
Signals for Improvement.
Clear signals of coming business re
covery are being flashed. For the past
jfour weeks railroad car loadings
have increased. Electric power, one
of the most reliable business baro
meters, has shown a gradual rise in
recent weeks. Business failures in the
last week of August were the lowest
reported since November a year ago.
Cotton and woolen textiles are doing
wry much better. Employment in the
woolen industry increased 13 1-2 per
cent in July over June and figures
will likely show a further improve
ment for August and September. 55.-
700.000 yards of cotton cloth were sold
in July against 37.600,000 in June, and
later figures are expected to show
further increase. Cotton manufactur
ers had 33 per cent more unfilled or
ders on the first of August than they
had on the first of July. Both silk
and rayon are much more active at
substantially increased prices. Shoe
production is being rapidly stepped
Another factor indicating improve
ment is generally good crop conditions
and the rise in agricultural prices
which will help farm purchasing pow
er. Also financial confidence is very
much better, as shown by the drop in
bank failures to normal, and the re
turn of foreign funds tothiscountry.
The raid on the dollar has definitely
ended. The credit situation is much
improved and credit expansion mea
sures are now becoming effective.
There are. of course, certain readjust
ments still to be made, ecovery to
normal conditions will be gradual.
However, the important thing is that
the worst has been passed.
.Furchasing Lower Must Be Increased.
While I believe that the turn has
come and that better times are ahead,
the rate at whic business improves
will depend absolutely on the growth
of public purchasing power. It is Main
Street and Not Wall Street that will
finally determine the prosperity of
■this country. Growth of purchasing
power will depend wholly on the
amount of employment. Hence, I say
to manufacturers and business men
everywhere that they can do far more
good by giving jobs than by giving
money. It is up to employers to make
Jobs for as many people as they pos
sibly can. not only as a measure to
hasten the return of prosperity, but
also as a Christian duty to their fel
Business as estimated by the Bab
sonchart is now 26 per cent below a
year ago.
Opportunity, in the minds of a great
many people, means, not freedom to
develop the best that is in them, but
freedom to follow the bent of their
8— A word of affirmation
9 llorc ash covered
11—A vote
13— To ponder over a thing
14— To toll
16—A note ot the scale
21— Attendants
22 Part of a store
*4—To jam
*B—a resting place
26—A oaffix denoting degree
29 —Exclamation of wprfrt
»O—A seasoning
82—Tnrf I
*4—To make lace
37 Thus
38 — Exists
Answer to Previous Puttie
Huge Lniei Are Likely
On Sinking Fund Loans
(Oontinuod from Fat* OM.)
whom la the present chairman of the
board of county commissioners, coun
ty officials and well known county
politicians, there are 101 who have
never even paid any Interest. It is re
garded as extremely doubtful if the
county can collect more than 60 per
cent of thees loans, which means that
the people of Wake county will have
to be taxed again to raise almost
3500.000 they have already paid In for
sinking fund purposes.
Vance Hoe $35,090 Out.
There are several other counties
that have made fairly heavy real es
tate loans from sinking funds to in
dividuals, but none of those reporting
so far have outstanding loans that
compare to the amount in Wake
county. Wayne county has $64,227 out
standing in real estate loans, Vance
county $25,000 in these loans, Hen
derson county $11,641 and Nash coun
ty $5,012. No report on these sinking
fund loans has been received from
Wilson. Cumberland, Sampson, Guil
ford, Gaston and many others. Coun
ties reporting either no sinking funds
at all. or no real estate loans made
from sinking funds are Chowan, Per
quimans, Edgecombe, Durham, For
syth, Cabarrus, Rowan, Mecklenburg,
Lonior and several others.
The Local Government Commission
yesterday sent a letter to all city and
county treasurers, directing them un
der Section 30 of Chapter 60 of the
Local Government Act of 1931, Public
of 1931. to start foreclosure on
all real estate loans made from sink
ing funds on which all interest has
not been paid by December 1. They
are also advised to collect as much of
the principal as possible, but that,
owing to present conditions, not to in
sist upon principal payments. The
commission takes the position, how
ever. that if the borrowers cannot pay
the interest on these loans they will
probably never be able to pay it so
that foreclosure might as well be
started now as later.
Money In Closed Banks.
In addition to this amount of from
$2,500,000 to $3,000,000 of sinking
funds tied up in real estate loans, the
and cities had almost $9,-
000000 of .unsecured sinking funds
tied up in closed banks and $2,540.-
296 of current funds in these same
banks, Charles M. Johnson, director
of local government, points out. The)
law directed all these funds to be
fully secured, but the law was dis
regarded. Not more than 25 per cent
of these funds in closed banks will
ever be recovered, Johnson estimates,
with the result that the taxpayers
must be taxed again for approximate
ly $7,000,000 already collected once.
“All of these real estate loansl of
course, were made prior to March 18,
1931, when the present local govern
ment act went Into effect," Johnson
from Mr. Hoyt on the day after Gas
Matsons visit, took Camilla to his
office in a state of trepidation. Had
something unusual happened? Was
he angry with her for her presump
tion and deception? Had hts pleabaat
attitude at the broadcasting station
been only a masked act, for the sake
of his pride? It would be like him,
She approached the inner office
almost with a feeling that the man
whom she was about to meet was a
stranger to her. But his greeting
was cordial enough—even affection
ate. Her fears vanished.
“I’ve been wanting to talk to you,
my dear. You gave me the surprise
of my life the other day."
“Was it very wrong of me to de
ceive you, dad?” she appealed wist
His eyes twinkled as she never had
seen them before. "I’m mighty glad
you did. You proved to me what I
always suspected that you could do.
Even when your mother opposed
your amhition to take up commercial
art. I held a secret conviction that
you could make good. With your
determination, I could see that any
encouragement from me would be
superfluous, and only antagonize
your mother more.” Ho exchanged
with her that look which she re
membered so well from her child
hood, a glance of understanding
which made words useless.
"Nothing could haw pleased me
more than the way you have devel
oped. I will admit tliat I never
should have dreamed of placing my
business promotion Into your Inex
perienced hands, much as 1 believed
in you. So I engaged efficiency ex
perts and paid a large fee to an ad
vertising agency to handle -the cam
paign. And, after ail, It fell right
into your inexperienced hand% and
you pulled us to victory. It only
goes to show that the wisest of us
haven't so much Judgment, • alto
gether, no matter how big we think
we are. Well—that is just a little of
life's irony.”
? “It would be worse than irony If
I hadn’t made good.” dw reminded
him with a timid smH*.
"But you did!” he dismissed the
matter with a wave of his hand, and
demanded abruptly, "But what about
Peter? Are you going to let your'
marriage fail, now that you have'
succeeded in your career?"
"Oh, no?" Camilla denied. "You .
know why I did not go abroad with
Peter. We are living according to msr
original contract, of course.” , ,
. -What good will your contract be
a year from now?”
h "Why—Peter loves me, dad!"
t "i don’t doubt it. I know he doea.
But when people lore each other and
are married, they should he to
gether; at least, for most of the i
time. I tell you. Camilla. I feel It my
. duty to advise you from a man's
standpoint. Tour place is with Utter
‘in Faria, or wherever be la.”’ * '
1 "But he oon't take care Os me and i
■'he wont accept pay help. He Is ter- i
rtbiy proud." ,
*, hos course. But what about Avis <
iWtoth*" ha reteaaad snotfcm 1 1
pp© you iraow that she i* «n the ,
, Westward Ho!
L—A—LoqLMiiMfcai—iwiifcMtaq— — __
there is CJOLO ] -
. I
said. “In many instances no payments
on either interest or principal have
been made within ten years, and there
is, of course, considerable loss on
these loans. No real estate loans have
been permitted since the present lo
cal government law went into effect.
It also requires all deposits in banks
to be secured. That is one reason the
credit of the local units in this £*tate
has remained as good as it has. since
these funds are now properly safe
guarded. There were adequate laws on
the books before, but there were no
provisions for any one to enforce
them. Now it is the duty of the di
rector of local government to enforce
same boat with Peter?*’
"Yes. but—"
“That is no coincidence,'’ he inter
rupted, sternly. "Camilla, I may as
well confess that I’ve kept a pretty
close watch over your private af
fairs since you left us. Your happl-
is my deepest concern. I did
not nke your marriage plans when
I first learned about them, and this
separation has made them prepos
terous. I tell you I won’t stand by
and see your life ruined. It will be.
if you lose Peter. I know what he
means to you—you may not think
so,” his voice lowered and he seemed
to be projected for a moment Into
a distant past, “but I, too, know what
love can mean. But you will lose
Peter, if you permit this thing to go
on—at least, you Will lose the Peter
and the love with which you began
so confidently.”
“Oh, I do wish so much to be with
Peter,” she confessed. “But he won’t
have me, under the circumstances.”
“Is there any objection to your
living apart in Paris, and seeing each
other often, as you did here?”
“I suppose not. But I can’t leave
my work and live there on nothing."
"Listen to me, my dear. If neces
sary, there always could be someone
found to fill your place in your work,
but not in Peter’s life. And that is
not even necessary. It will be a
simple matter to find someone to
take over your radio programs, even
someone whose voice so resembles
yours that the public never would
recognise a substitute, If that Is more
advisable. You have started the pro
grams personally. Now, there Is no
reason why you can't pack up the
rest of your work and take It right
over to Paris with you. That will
solve the problem of present exist
ence. You can provide, fob -yoUrself
very well, but I also make the re
quirement that you and Peter are
to take a comfortable Btudio, large
enough to accommodate the work
and privacy and temperaments of
two geniuses,” he smiled slyly, “and
live together. You will discover what
happiness is, then."
“But Peter won’t live that way
when 1 have the advantage over htm.
He hasn't even a start in Paris yet."
"As for Peter, 1 have managed
some other things which may mollify
his wounded pride,” Heyt continued
placidly. *T‘ have arranged for a
large replica of his exhibit group to
he given a prominent place tn this
city, but he nevgr win know who
promoted the movement You will
guard the secret for Ms sake, it is
net philanthropy—>l was only given
the hand of destiny for starting the
"As lor year future, mg dear child,
you are my sole heir to the fortune
which you have salvaged. However,
that la not a now idea, i always ex
pected to bequeath the bulk of my
estate to you, hut I purposely in
sisted when your mother took pan
that I should not acknowledge you
as an heir, so that you would be
forced to prove yourself. I had con
fidence that you would, which ln
aeeassd as you rrew older. That you
accomplished tt through your own
efforts to reclaim my bueineee, is an
22V* **** J*»t I advise you.” he
wumga Mr with twlnkßau eeue.
(Continued from Page One.)
are Guilford and Forsyth. It will be
necessary to get still more informa
tion from the other 18 counties, Mor
rison said.
On the basis of the estimated needs
so far received, as outlined by the
counties and towns in their reports,
indications are that the requested re
lief for the State may not exceed $2.-
000,000, it was said. The total estimat
ed needs of the 20 counties so far
reporting is only about $300,000.
“that you had better not tell your
proud Peter you are an heiress. Lej
him be surprised when the time
comes, and he has made good for
The tears were falling, unbeeded
down Camilla's face while he talked,
and when she left, a more perfect
bond of paternal affection anO
daughterly respect was not to be
found anywhere. Camilla Hoyt hac
entered Into her rightful heritage,
by character and effort.
The pandemonium of a steamer •
landing at Cherbourg was in full
swing. Passengers who had been
waiting with varying degrees of
waning patience to land, were re
leased in a single file down the gang
plank. Peter followed Avis, who
turned to him often with n smile or
a word of confidence.
“Have you got everything?” she
asked him, with the air of an ha
bitual traveler prompting her charge.
’’Guess so,” his reply was laconic.
But he felt as if he had left some
thing very valuable aboard the
steamship, something which he could
not go ba«k to recover. It was not
there. It had escaped somewhere Into
the void of lost ideals and illusions.
He felt older, hurt, broken; but he
faced the new future resolutely.
Following Avis with eyes that were
almost unseeing, he jostled against
her as she stopped abruptly In front
of him in her descent. He looked up
inquiringly, to follow her eyes which
were riveted upon something she saw
on the pier. His own eyes stared as
if he were seeing a mirage.
Surely, it could not be truo. That
couldn’t be Camilla standing down
there, waving at him. her deep toock
eyes so prominent in the little white
faef. But It was! His heart leaped
and pounded. All the old emotion, the
ecstatic rapture of the springtime,
surged back into his empty being
and filled him with remorse. How
could he ever have doubted hers
Even from here, he could look into
her shining eyes and know that she *
never could have betrayed-, hint as •
Avis had said she did,, Hie Amis *'
leaped down to meet hers, aiid his
hand waved wildly. He almost
trampled over Avis in his eagerness
to reach her. oblivious of‘everything
etoe in the world. They dung *6
-Other desperately. Ten days had been
M «l»ralty of separation.
“But how—r’ he wondered, when
he could speak.
“I arrived yesterday. I flew to New
York, and come on the fastest boat
*“•* , ***** the "even seas." breath
"but I’ll tell you all shout fr,
*ator. Ut me see you through the
etwtotoa first."
"Darting. are you 1001?" he
sqi)«ng*d her arm.
"Real enough to remember the
French X need right now*
whs n shocked sad hewtl
<fered that hU she hearted to dTwai
ehcape. Neither of those two united
lovers had even remembered her ex
istence. She hauled awwy to feme
J". .I*** w «* vln * throngs.
'Vcfct* that la—that! H tfb« nh—ii ia i
wryly to bermtf. "Yon con uttr
* ***»’• emotions, but yoa chat
«*oke tto lows^yoe^iksjhatt"
It is still proving difficult to n.sK*
some counties and towns teaiur
it is necessary for them t«> put •
rome effort and raise fund- f u : r
lief, Morrison said. In sonif o! -m
--counties in which it is d*-f»r..v.
known that conditions are bad t„ , ..
of county commissioneis ate it!„
to do anything on the ground- try
there is no need. But some of
counties are gradually coming t
realize that the Fedeial relief fur.a
fere not to be used as gifts, but «>•»•-
ly to supplement local effort and that
where the counties are willing to a-i
something to help their neecy hr
Federal agency will also help.
It is hoped to get in report- ft-s<
e.t least 90 per cent of the cuur.tiet
next week.
B. H. Mixon I
Contractor and Builder
Bolldlng, remodeling, repaiHiig
concrete work, weather
stripping, painting, etc
Estimates Furnished on Keenest
Office Phone ff— Residence 41W
Under and by virtue of the j- «ct
contained in that certain lknJ <! A
slgmnent executed by Hti?ter-Sinaw
Furniture Company to the un»i‘!sign
ed trustee-assignee for the bene!;: <•?
its creditors, which is du.y ■■<atoi :■
the office of the Register of 1> :
Vance County, N. C . in Book M
page 31, and under and by v.ru. : *
order of the Clerk of tic
Court of Vance County dated Scpvn.
her 13. 1932. the under*:p»**d “
assignee will sell at public rr.tc - n
the highest bidder for cash a"
store building formerly occupied t>
Hughes-Smaiw Furniture Compar.v a
twelve o’clock noon on Saturday. tr>-
24th day of September. 1932 :<•. of
goods, wares, merchandise, stock as -
fixtures at tihe Hughe*-Smaw Fn:.-
ture Conrgpany. An inventory *>f ■
the said stock and fixture* may l*
seen by interested person* at the
fice of the undersigned !ru-te*-a--:p n ' ■
or in the office of the Clerk * f
Superior Court of Vance Conn y
This the 13 day of September. 192-
108—4:48 A. M. for Richmond
Washington Now York, connect
tog at Nortlna with No. 1* » r
riving Ftrtomooth-Nerfolk I2:ti
P. M. with parlor-dining cor set
p. M. for Rlchmood
and Portsmouth, Washington-
New York.
I||__ g;«B p. M. for Richmond
Washington and New York
|—S:ZB A. M. for Portanioiiti
Norfolk Washington. New York
m—6*3 A. M. tor Savannah
Jacksonville, Miami, Tampa. *
8—3:45 P. M. for Raleigh, Ssn
ford. Hamlet. Columbia, Ssvan
pah, Miami ( Tampa, S*. retri*
10T—7*5 P. M. tor Raleigh. H»">
let, Savannah. Jackson till*
Miami, Tampa, St. PetershsH
Atlanta, Birmingham.
5—1:25 A. M. tor Atlanta, Blf»*
Ingiunv, Memphis.
For Information call on B ®
Plsasants DFA-, Raleigh,
w M C* Capps, TA , Hendsm*®-
H. C.

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