Henderson daily dispatch., December 24, 1935, Page PAGE TWO, Image 8

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

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

                
PAGE TWO
RFC SUES HARO i
BLOW AT BANKERS
Deprived Them Os Jucy i
Plum in $100,000,000 Loan
To Railroads.
’ Bv 1.F.51.1K KIOIIKL
CVutrnl Press Staff VVritor
New York. Poo. 24. -Most of the
papers have misled the terrific body
blow dealt New York bankers by the
Roosevelt adniinistration.
Wall Street bankers were eager t.o
underwrite the juieiest pieec of busi
ness si nee the "good old days"—the
SJOO,O<MI.O(H> refinancing of the* Groat
Northern railroad. The banking
houses proposed :i five percent con
vertible bond issue with an under
writing 1 fee of one per cent of the
total issue and of one per cent in ad
dition on all bonds taken by the bank
er.- after subscription rights expired.
It meant millions for the hankers.
The railroad—somehow not domi
nated by the hankers—got up enough
spunk to demur. With billions of idle,
credit and cash in New York tanks,
there, was no reason for making a
bankers' holiday with stockholders’ 1
money.
Thereupon Jesse 11. Jones, chair
man of the RFC. stepped in with the !
government’s terms: fen-year con
vertible bonds at four p a cent, with
no underwriting fee.
That saves the railroad $10.000.0n0
in interest alone in ten years ove> ;
the bankers’ plan, plus considerably
more than another $1,000,000 in un* j
derwriting fees.
And the saving on the bond issue
being retired tit carried a seven per
cent coupon i is $3,000,000 a year
The anger among powerful finan
cial interests knows no bounds.
That single action by the RFC in 1
regard to the Great Northern will
cause unlimited sums to pour into
the Republican campaign fund.
WHAT NEXT?
New York bankers ask. “What
next?"
If the government can lend money
at four per cent to a railroad and put
that roalroad on easy street, will the
government not "gobble" up other
juicy financing in order to force in
terest rates down?
The RFC is in a strong position
Tr loans are being paid back at Un
rate of approximately 53.000.000 a
day. The securities it buys or takes
as collateral it has born able to sell j
at. a profit. In short, the government
loan agency. hec«»t s o u does not ask
so rmieh, is making more profit than 1
any bank.
Yet, the Roosevelt administration (
evidently is trying to keep out of the
banking business.
Chairman Jones wrote to W. P.
Kerrey pre-id -r.t of the Great North-:
erri.
"We have no desire to supplant vour
bankers, but would like lo co-operate
with them and the railroad to the
end that railroad financing can b •
done n.t much less cost to the roads.
"f haw repeatedly stated that 1 am.
as anxious as any one to go l tint gov
ernment out of the lending bit-in
bill 1 have also stated that v. should
n<T. get out too soon; by which 1
mean until money i available trorn
private .•ounces .|| fair inD-iv f rale:
.•Mid on fair term.-."
'VVVVVl'W'WvVvVV'^'W'tt'fl'v't
Merry Christmas
And A
Happy New Year
! To our friends and customers
Wit thank you lor a growing
husilloSS.
Continental
Plant Co.
Kit troll, X. ('.
('. M. 11 Hi I IT, Sales Alj.Tr.
Christmas
Cheer....
7he old year is about to close !
“and it has been very kind to j
us and we are particularly ;
pleased and thankful for the ;
loyal support of our patrons, i
in the past and are looking \
forward to the pleasure of I
serving you during 1036.
Baker’s Shoe
Repair
Carolina Shoe
Repair
Today is fha Day
By CLARK KINNAIRD
Copy right, IMS, for ibis Newspaper
by Central Press Association
Tuesday, Doc. 2-1; Morning stars;
Venus, Jupiter. Neptune. Fvoning
stars: Mercury, Mars. Saturn. Uranus
New moon tomorrow.
Notable Nativities
Charles Wakefield Cadman. born
1881. American composer—Ruth Ghat
terton, born 1803. cinemactress.
Today’s Yesterdays
Dec. 24 1822 —Dr. Clement Clarke
Moore wrote his endwring poem. A
Visit from St. Nicholas" popularly
known as “The Night Before Christ
mas."
It was first published anonymous
ly without his permission, a year lat
er. and he did not acknowledge its
authorship for 22 years! lie feared
use of his name on children's - verses
would reflect upon his standing ~s a
classical scholar, ana allowed his
famous verses to he pirated by pub
lisher after publisher. Thus ho never
profited a penny from one of the most
popular American poems ever pub
lished.
Dec. 2 1 1010 —John D. Rockefeller
made the biggest gift in history. He
gave away $100,Oik).000 —half of the
Rockefeller Foundation (.medical re
search) and half to the General Edu
cation Hoard.
WEDNESDAY IS TIIE l) \Y.
Wednesday, Dee. 25, the calendar
anniversary of the birth in Bethle
hem of Christ Jesus four years before
the Christian era began. This, there
fore, is the 1939th Christmas. A
legal holiday in every country of the
world except Bulgaria. Arabia and
U. S. S. R. An annular eclipse of the
sun, invisible in U. S„ will be visible
in New Zealand, south Pacific and
South Atlantic.
Wednesday s Y est erdays
Deo. 25. 1042 —Isaac Newton was i
born in Woolsthorpe, Lincolnshire).'
after his father's death. He it was wm>
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HENDERSON. <N. C.) HATTY DISPATCH. TUESDAY, DECEMBER 24. 1935.
niriAiitr.it
«,l irj * mOij ’Hi wi n imp ■ xal
‘' i ■zTffTT' .*► «* j 7
« I I 2 I .*ll i
ir. i/ ' An iit2o 2 i
22 1 )* 21* 27 211
2*> / !
established the law of universal
gravitation and became tin 1 original
Ahsentminded Professor. It is relat
ed that one day, wishing to find the
number of seconds necessary for the
boiling of an egg, he perceived, after
waiting several minutes, that he held
the egg in his hand, and had placed
his valuable watch to boil! Better
known is the story of how he invited
a friend to dinnei and forgot it. When
Ihe guest arrived. Newton was star
ing, out of a window m a state of ab
straction. The tale was set and the
friend knew’ing Newtons moods, sat
down ami ate ilmnet alone. Newton
came out of his rev« no, seated him
self at the place the friend had va
cated. stared at the empty plate and
exclaimed. "If it wasn’t for the proof
before my eyes. 1 could have sworn
1 had not yet dined!"
First World War D;i,v-li,\ -Dny
Dee. 25, 1915 Commanders on the
western front sternly restrained any
display of Christ inns limit toward
Wife Preservers
When your gas or electric light
bdl is larger than anticipated,
chock these things before you coin
plain to the company: How many
days does ttie bill cover? Is weather
to blame? Has there been sickness
in house? lfas someone been using
inoie gas or li-'lit than you realize?
tin' enemy. Tlu» previous year there
had been stun,, peaceful fraternizing
in no-man’s land, exchanging of cig
arettes and chocolate serenading. All
such evidence 0 f c onulion humanity
was forbidden this year.
British had chosen Christmas Ev«
to tighten lbe economic blockade it
had drawn around Germany, design
ed to starve women and children and
other nonconibatants unto submission.
It extended Mie -Trading with the
enemy ne:’’ | () cover many articles
never before regarded as contraband
Wile Preservers
or 3 >:
PH wPa
\ll nit i-ruli inii.li ?i -■ 111 --, i imvi.
ii.' tll i b.- , , ; ,|ifi Hillside inc
hi,use door is an aid in cleaning
»»•< •■•’.mvs i>i■ i< ll, . ,■!!!• l ina ihe house.
V*V » A
5? &
& An ad to make a little call and wish
>► v
& , &
& the wish that’s best of all . _
V
% MERRY CHRISTMAS AND §i
¥ HAPPY NEW YEAR H
& &
I M. G .Evans I
* *.* ••
& &
& &
Now anything that would enable .the
enemy to live was contraband!
Dec. 20 1915—Fighting was resum
ed on a large scale on the southern
end of the Russian front, which the
Teutonic allies had expected to re
main quiet during the winter. The
Russians, bettor equipped for winter
fighting now than the Germans, had
massed an army on the Bessarabian
frontier,to carry out. an attack that
would distract Gorman attention
from the Balkans and cover up Rus
sian preparations for a master-‘.low
that was to conic in the Caucasus.
It’s True
For more than 100 years, in Mass
achusetts, there was a law providing
a fine of five shillings for any person
celebia .ting Christmas or abstaining
from work on December 25.
Christmas has been celebrated in
six months of the year. Before the sth
Century, the birthday of Jesus was
observed in some countries in Jan
tia ry.
Dec. 25 was celebrated as a feasting
gift-giving holiday long before the
birth of Jesus.
Greenland has no laws against
murder, and never has any murders.
Six slates have fewer members of
the C. S, House of Represent n.t ivos
than of the Senate.
White men. abducted from England
were soid as slaves in the American
colonies in large numbers.
The size of children is affected >y
the part of the Lnited States in which
they live.
Queries, reproofs, etc are welcom
ed by Clark Kinnaird.
1 TO OUR FRIENDS i
& £
5 and CUSTOMERS t
6 ft
| Merry Christmas |
V- •' • ■*
« 5
With the utmost sincerity and pleasure $
H we wish to express our thanks to you and J
wish you a Merry Christmas’ and a happy *
& New Year. We have appreciated your *
& business this past vear, lOMo. £
& ft
May we continue to have your esteem #
V friendship and cooperation
in years to come. ft
I ft
\& : Wishing you unbounded success and *
good luck for the coming year -J
& ' W
. vw *
ft
I Clements Motor Co. §
5 Phone 437 *
.*
I V, Vo ? . Me r* v c, "-s«tm as to K
()ur ( ustomod I
DICKSON &CO I
' Phr.nd r , w I