Newspaper Page Text
PAGE FOUR HEKDEDSON DAIU DISPATCH B>t«Uiih(4 Atyrt 11, i**4» PaHItM »mT saadtr *r __ ■BNDERSOM DIM’ATOM CO - Wft a « i# Tou»Mm| HENRY A. DENNIS, Pr*. and Editor If. L. FINCH, See-Traaa and Boa. Mgr. TELEPHONES ... Editorial Office , Society Editor §}• Buslnesa Office * ** w The Henderson Dally Dispatch in a member of the Associated Press, News paper Enterprise Association, South orn Newspaper Publishers Association and the North Carolina Press Associa- U< The Associated Prose Is •* c ' u,lv t)n sntltled to use for republioation ail news dispatches credited to It or not otherwise credited in this paper, and also the local news published herein. All rights o 1 publication of special dispatches herein are also reserved. •unscitiPfioft prices. Payable Strictly la Adva»e*< One Year ♦•••• ■lx Months Three Months '-r® Per Copy «... .w NOTICE TO StJIISCRIHERS. Look at the printed label on your K.per. The date thereon shows when e subscription expires. Forward pour money In ample time for re- . newal Notice date on label carefully and if not correct, please notify us at once. Subscribers desiring the address oa their paper ohanged, please atate in their communication 'both the OLD and NEW addrese. Rational AdTertlalDg ItepreseatatlvM FROST, LANDIS d KOHN lit Park Avenue, New fork City: 16 Bast Wacker Drive, Chicago; Walton Building. Atlanta: Security Building, it. Louie. | Entered at the post office In Hender* •on. N. C., as second class mail matter <e»hwna|S»t.«*t«l>d«i*aTie>^-lalaia:lH| THE ROAD TO WANT: He that op pressed the poor to increase his riches, and he that giveth to the rich, shall surely come to want. —Proverbs 22:16. fELLOWSHIP Os I*--PRAYER-#, DAILY LENTEN DEVOTION I {The Rev. Gaius Glenn Adkins, D. D. Sponsored by The Federal Council of the Churches of Christ in America Coyright 1933 FRIDAY, MARCH 17— (Read Psahn 27:1, 11-14) .. Waiting Waiting is always a test both of faith and patience—and there is a deal of waiting in life. Whether we go through it serenely and issue out of It victoriously depends upon what we wait for, and how we wait. The great things always need waiting for. They cannot be hurried. Hopes an-J plans need waiting for and the out come of far-reaching) ideals and' the great fulfillments of life. God needs waitig for. Our haste outruns H'is providence, we ask from Him the har vests of the soul before they are ripe. But those that wait uipon the Lord are never disappointed. The secret of strength and happiness is in tim ing life to the vast sweep of Divine dove and goodness. Prayer-j Grant us, O Lord Who art unhastening and unresting, to wait upon Thee, not only with patience but with a serene confidence.! May we never outrun Thee in our haste nor fall behind Thee in our slowness. For give our fsverish way and subdue our wills and ways to the revelation of Thy purposes. In Hfs name Who having come to do Thy will, keep equal step with Thee in all things. Amen. *1 JAMES" ASWEU.I* New York, March 17—’The Town in Pieces: ( That tal kabouit this being the dtay of youth in the saddle, is, of course mostly nonsense. Juist check the number of birthdays wlhlcih hav e be fallen the really powerful personages l Washington, i n the arts and soi- j enoes. The cub is rare. Bult on the beards it’s different. There are the dance sensations of th e past two sea sons— -Hal Leroy and Vilmhi and Budl - Ehsen; Eddy Duclhiln, the jazz master; Milton Berle, the, corrierfian;! Mltz Mayfair, dfanseuse; Eteirwr the swlntme r-actress. But the list "Is longer than this And all are a L lll damp behind the ears. Tom Mix, astride a white horse in 42nd street, to plug a new movie, re inforces mjy long miarveHng at the way actors—on the whole retain thieir youth. Tom looked a western juve nile, as cocky as 21, when he has a daughter above that age. Comes a new robbery technique to| a tired town. Welt-dressed Raffles answer sublet ads for apartments in fasJhionable neighborhoods and while, inspecting bedfeomis mlake off with! stray jewelry. i Wiillfcam A. Lradty, who know's y things about thai town columnlsite do’ not have time to find out, walks two mfles ev*ry morning around the roof, which is the lawn of his Hark avenue penthouse. Cutting out paper dolls mtay bring bundles of scrip to nobody, but Mrs. Izole M. Dorgan, widow of the lam inously light-hearted “Tad'’, the .car toonist, supports herself adequately constructing furniture for doll houses. It was a pastime in the days of her famous husband’s zenith. She owns, Incidentally, the oldest doll i n Ame rica, a toy of W?i 111 am Penn’s daugh ter. i j \ SCRIBBLE STOCK UP Katharine Cornell, feary of the nightly rush of autograph houmdls as she emerged from th© stage door where “Alien Com” Is playing, hlgnd ly announced to the eager albums thrusters that her price would be half a dollar a scribble, the proceeds to b© donated to the actors’ fund. To her amazement, there were twice as mlany applicants for her scrawl the follow ing night, each signature seeker with a 50-eent piece outstretched one young man optimfstically proffered a cheek, In line with the times. WAKE FOREST ,!vwhpl The Henderson Independents, a bas ketball five made up of high school boys, dropped their nightcap to Wake Forest. All-Stars last niighit on Coop er’s Warehouse floor 2040 as part of a double program being offered there. Davis and Clements with three points were the high scorers for the locals wihiile Man gum led the visitors with 8 points and Smith took sec ond place with five shots through the basket. TODAY TODAY’S ANNIVERSARIES 1775 —Ninian Edwards, Kentucky jurist, U. S. Senator from Illinois and governor, born in Montgomery Co., Md. Died at Belleville, 111., July 20, 1833. 1777 —Roger Brooke Taney, of Mary land, sth Gh’ef Justice of the U. S. Supreme Court (1836-64), born in Cal vert Co., Mid. Died in Washington, Oct. 12, 1864. 1820—Patricty E. Connor, Indian fighter and pioneer, Orvil War general, publisher of Utah’s firsb daily paper and locater of ilts first silver, mine, born in Ireland. Died in Salt Lake City, Dec. 17, 1891. j 1820—Jean Ingelow, English nove- I Ikt and poet, born. Died July 19, f lfu)7. 1832 —Walter Q. Gresham. Indiana Civil War general, cabinet officer un der both Republican and Democratic presidents, jurist and staiteiiimlan, born in Harrison Co. Ind. Died in Wash ington, p. C., May 28, 1895. 1841 —Bm’ily S'artain, Philadelphia painter, born there. Died June 18, 1927. 1846 —Kate Greenwtay, celebrated English illustrator, born. Died Nov. 8. 1901. 1849—Charles F. Brush, . celebrated scientist, pioneer investigator of elec tric lighting born at Euclid, Ohio. Died in Cleveland,, June 15, 1929. TODAY IN HISTORY 1775 Daniel Boone and several as sociates set out for Transylvania, a tract of land between the Kentucky and Cumber lad Rivers. 1898—Birth of the first submarine —'John P. HoMasnd’s the “Holland.” 1919 —T.he American Legion found ed at a caucus of war veterans in Paris. 1921 —Nevada provided for the use of lethal gas in inflicting death pen alty. , i TODAY’S BIRTHDAYS Rabbi Stephen S. WBse of New York, born in Hungary, 61 years ago. Major General Amios A. Flies, U. S. A., retired, born at Debello, Wh>., 30 years ago. Robert Tyre Jones Jr., (Bobby Jones) Atlanta, Ga., golf champion, born there, 31 years ago. Cerra May Harris of Georgia, noted author, born at Farm Hill, Ga., 64 years ago. Wilbur D. Steele, aulthlor, born at Greensboro, N. C., 47 years ago. Paul E. Green, noted University of North Carolina professor and author, born at LiMngton, N. C., 39 years ago. TODAY’S HOROSCOPE This day endows you with keen in aitfon and you will go forward with confidence in your own deductions. ObstaCles-land opposition will be sur mounted, and friendis, attracted by good will,} will render assistance. Dangerous journeys are probable. In Cerm&k’s Shoes ! mf m v jjßj if ilk' Frank J. Corr # In defiance of an opinion from Uie corporation, counsel that the election would be illegal, Aider man Frank J. Corr of Chicago’s Seventeenth ward, has been se lected by city council as acting mayor to succeed the late Maybr I Anton J. Cefmak. A candidate of the Democratic organization, Corr was elected at a special meeting of the council. HENDERSON, (N.C.) DAILY DISPATCH, FRIDAY, MARCH 17, im ASBABE, COLONEL TALK CONTRACT - illi Hjff gK;' , i \. <wm ttfii JHI Kill * WsSßrn' iffi Colonel Jake Ruppert, New York owner, and Babe Ruth are shown talking over Ruth’s 1933 contract Roosevelt Advent Marks Start Os Better Times New President Has Strong Program, Which Is Already Inspiring Confidence, and Higher Prices and More 'Business Will Follow, Babson Declares BY ROGER w. BABSON, Copyright 1933, Publishers Financial Bureau- Babson Park, Fla., March 17. The swift and courageous action of Presi dent Roosevelt marks the beginning of better times. Even though busi ness is temporarily hurt by the bank closings, I am hihly optimistic over the future. Nothing but a financial hurricance could have enable any .president to put through these bold 'and constructive reforms. If Congress and the public continue to support cur President, the recovery will be swifter than even the most optimis tic could have dreamed two months ago. For the first time in forty months basic remedies are being ap plied. which beyond question of doubt will bring better business, safer banks sounder government finance, more em oloyment and higher prices. Com plete reorganization and readjust ment of the banking situation can :rot, of course, occur over night, but a fine start has" been made and con fidence will teadilys return. A Strong Program- Recognizing that the basic problem is to restore confidence, the program is skillfully doing that through the following steps: (1) By taking the •banking skeleton out of th© closet and exhibiting it to the public view, Presi dent Roosevelt has shown it to be a far less ghastly thing than the peo ple’s earful imaginings had supposed and one which th e vigorous measures of the pew banking laws will surely land safely overcome.. (2) By provid ing a vast temporary currency based cn government obligations and sound banking assets, he has thrown into the pap of frozen checking deposits a means of doing business while the 'good banks are being separated from the bad; also providing a controlled expansion of currency in which peo ple an have confidence. (3) Recogniz ing that confidence in any sort of Currency, in bank deposits, in govern ment bonds, depends wholly on a sound national budget, he proceeds toward that goal by reducing expense instead of by increasing taxation. By proposing to lop $750,000,000 off the budget at one stroke, he strikes a blow for sound government credit. As the banks and exchanges reopen they Will have a reliable foundation on which to build. The scaling down of deposits in weaker banks and dis turbing effects .of the banking shut down may temporarily hurt purchas ing power in some sections. However, business thrives on confidence, and (purchasing power will increase as money comes out of hoarding and goes into active circulation. Most impor tant of all for business improvement is the confidence that we are now headed in the direction of a balanced budget, restored government credit, iand firm commodity prices. The Unit ed States is fortunate that this cri tical hour we have a strong, well balanced program.'We are not resort ing to the crazy panaceas which have so often lead nations into a financial morass under similar crises. What About Inflation? The administration recognizes that the medium of exchange in the United States has .been, and must be, checks on bank deposits. It does not ptb ipose to. abanron that system and try to act on a permanent cash and cur rency basis. However, recognizing the need for emergency currency, until these bank deposits can be fully freed, it provides a currency backed by the bonds of the United States and tha good bank assets. This currency is not o fthe “shinplaster” or “green-back”! type. It is not “say-so” money. It is as good as any other Federal Re serve notes, into Which it is redeem in St. Petersburg, Fla. When this photo was taken the Colonel and the Babe were not in agreement; able. Hence, though it may circulate temporarily in great abundance, it is capable of being drawn in again when check deposits come back into ther full and normal functioning, and when hoarded currency is fdlly re turned to the banks- „ . This new currency does per manently dilute our money system, as unsecured “green-backs” would cer tainly have done. While the great ex pansion in currency should bring -tome rise in prices, it differs sharply from that type of currency inflation caused by lack of confidence in the financial solvency of the nation. We can have and doubtless will have, a reflation of prices, which will be help ful in restoring buying, encouraging business expansion, and providing em ployment. This new currency law and the changes in the Federal Reserve regulations provide about $11,000,- ’OOO,OOO of new money in addition to the $8,000,000,000 now outstanding. Total currency needs at the present rate of business are not over $4,000,- 000.000. Hence, there is no permanent need for more money, but a need to get money Circulating. The new cur rency should be regarded as a tem porary stopgap to fill the hole caused by hoarding and by the tie-up ip checking deposits. Must Be Administered Carefully. This new money should be called in as check transactions again begin to function; otherwise we could have a ■too rapid rise in prices, which, with wages lagging behind, might bring about . intense suffering and a -sharp reaction. As Senator Glass pointed out —“ninety per cent of the effectiveness of this and almost any other legisla tive measure depends upon its admin istration.” The purpose will be con trolled expansion, not reckless infla tion. In any event, the tendency is toward firmer commodity pricefe. The gold embargo has already stiffened • hote commodities which are ej-port ecl and imported. Deflation is 1 com plete and the broad future trend is j upward. Instead of hoarding money, people will soon be spending money. Goods and services will become more desirable than dollars. Those who continue to hoard will be making a very unprofitable investment. What About Securities? Recent bullish action of the Amer ican stocks in London markets indi cates renewed confidence. in our se curities. Recognizing that isl the cleaning up of the bank situation some further liquidation from that source! may occur, I, nevertheless, foresee the’ overbalancing optimistic factors of restored confidence in our national credit, a pick-up in commodity prices: art increase in business, an improve-: ement in earnings, which can easily) 'bring higher stock prices. Even) though gilt-edge bonds, under the in-j fluence of higher interest rates, may self off, the bonds of medium or sec cond-grade nature, selling more on the basis of earnings than of interest, can score sharp gains. Strong efforts will be made to prevent run-away mar kets in either direction; but the im pulse to buy equities will become very strong. Certainty we do not need any ■more dramatic picture than the, events of the past two weeks to warrant the (belief that securities are at rock-bot tom. * a :• '■ .i» Back To The Golden Rule Standard. Don’t worry about the gold stand ard- The vigorous action of the Trea sury Department In getting gold out jof hoardirtg and back into its vaults shows the intention to stay with gold While the rise in foreign exchange •probably indicates a more or less per simaneht levelling process in the inter national exchanges, it does not mean any radical debasement of the Amen-, Ships That Pass In The Night can dollar. Under present conditions (a 20 or 25 per cent gold cover would ■be entirely sufficient for our needs. W)e should concentrate in getting back onto the “golden rule standard” and let the gold standard take care of it self. Business, as estimated by the Bab sonchart, inow registers 13 per cent fbelow a year ago. Ewing Would Enable Com panies To Qualify For R. F. C. Borrowings Daily Dlapntck Bnrena. In the Sir Walter Hotel. BY J. C. BA«KRRYII.!.. Raleigh, March IT. —Development of new industries for the utilization of North Carolina timber was forecast yesterday by Representative W. C. Ewing, of Cumberland, if House Bill No. 935 entitled “An act relating to corporations for the protection and development of forests under super vision of the State,” is enacted by the •General Assembly- Mr. Ewing is chairman of the House committee on conservation and de velopment, which in joint session with the Senate committee headed by Sen ator W. O. Burgin, of Davidson, has recommended the passage of the bill. Mr. Ewing, along with Thompson of 1 Columbus, Massenburg, Groves, Brad dy, Smith, and Taylor of Halifax is author of the bill. The bill’s primary purpose, accord ing to Mr- Ewing, is to serve as an enabling act making it possible for (North Carolina timber owning cor porations to qualify for Reconstruc tion Finance Corporaton loans to ad in financing projects for the protec tion and development of the forests of the State. One of the -early results expected to follow ; enactment of the bill, Mr: Ewing said, is the erection of a pulp mill in the southeastern part of the iState. He asserted that one company has already revealed plans for the erection of such a mill if a loan for its construction can be obtained from the R. F. C. Others types of industries for the man-ufacture of wood products are alsb being' cdnsidered when the enabling act makes it possible tp ob tain federal funds for their.- develop ment. Believed To Have Asked Hitchcock’s Appointment , To The Senate By LESLIE EICHEL Central Press Staff Writer New York, March 17.—it looks more and more as if President Roosevelt is determined to surround himself with men who were identified with the Wilson administration—as he was When Senator Robert B. Howell, Republican, of Nebraska, died, Presi dent Roosevelt is said to have urged Governor Bryan, Democrat, to appoint a man favorable to the administra tion— and perhaps intimated that Gilbert M. Hitchcock was the man. Hitchcock, Omaha publisher, was a senator and a spokesman for the jpresident during the Wilson admin istration. HUEY LONG GAINS The fight of Senator Huey Long of Louisiana to have state banks pro tected under federal, banking legis lation has drawn powerful supporters to him. Indeed, so powerful has become the support (which includes Governor Ritchie of Maryland) that depositors in state banks are not likely to be left out in the cold. Because of three large banks in Ohio, which did not resume in full, additional powerful support is com ing from that state. ** * * NO FRIENDS Men who were Roosevelt workers and contributors find that he plays no favorites —particularly when it comes to banks “ Every bank on its own merit,” is the president’s watchword—and that goes for friend and foe alike.” CROSS WORD PUZZLE 1 2 3 A gp s 6 7 8 3 11 2 LIIIIIIIIIIIII — # 22 23 24 25 -- 28 23 30 35 I"" ‘ 38 ~ 39 40 42 - WM~ Lr -35 " r s° //A SI ■SS 53 54 5S 56 57 " ~leT ■ 55 H - 7 m *"■ 7 ■Kmi .I. Il l ■■fiairt mJ ACROSS I—Drama s—Affirm 10— Arabian legendary bird 13—City in Nevada 11 — Adult human beings 15—Girl’s name h 10—Incentive JB—4sy 10— Last letter of the alphabet 20—Salary 22 —Stern 25 Ireland (poet ) 26 Commonest 2S—Revenue derived from property 11— Eagles 12— Goddess of agriculture (Rom. Myth.) 34 Era *3s—Assist 36—Driving command ; 37—Girl's name 38—Midshipman, H— Finest 14—Girl’s name i 15—Queerest . lie —Narrow strips tf—l’oem 50—French coin Vocal expressions s<l—Thrice (mils.) 5”7-Wp.b-f 001 ed fowls 58— Attractive 59 TJnh of work W—Hacked * M—3fir* days ’ . v W *' , -<-n down l —Silkworm .—Writing instrument 3—-India (poet.) i from Michigan i s—NatiVes of Sweden Goy’s nickname i I—Seat of lowa State college I* rame.<« for at retching cloth COURTS AMERICA Yosuke Matsuoka, Japanese dele gate who marched out of the League x>f Nations assembly in Geneva, ‘Switzerland, and his suite are coming home via the United States —to smooth things over. Matasuoka was to sail from England on a German (finer. He decided as a gesture of icourtsy to cancel that passage and await the sailing of the United States liner Leviathan. ** * * PICTURES WHILE YOU WAIT Cincinnati’s new umpty-million dol lar railroad terminal, which will be opened March 31 will have a 120-seat movie theatre, of the de luxe class (but at only 10 cents). It will show a 45-minute newsreel program. Maybe some day railroads will throw in the (picture for nothing for persons using trains, order to meet bus competi( lion. 9 —All 10—Contrition 11 —Kiln 12—Menu , 17-*-Wax 21—Fasten 22—Bedaub 23—Weird 2! —Proper name 27—Djgit of the fdot r ' 29—Girl's name 30—Smallest in size' 33—Tiny vegetable 36—Person to whom property is transferred by deed AVarmth 39—Lie 40—Ample •42—Anchored 43 —Icelandic literature 46 Network 47 Refrigerator 48— Boil ~ 52 Compass point 53 A catchword 51—Greek, letter 55—A weight of India Answer to Previous Pu«l< > fe|s(R|sW{s| |o|S|a|G|e]s} 1 < ti’EGEL JWALSO A sJj&er atJej £ kX.!ls p A SEEsIaBA Xk §bE] nat EM EiN4TALIsiA® B.A I_TE sl OjPIMU EW ESTEEMS EIsJeJ kA s E i-SJIA U Ailjl] tH.XaE.CI jANktikj S|Tfeig.lo|sl |S|T|» IniIgJEJ