Government Takes Over
Stocks of White Metal
Order For NaUmtVullon Of Silver
Iwued By President Roosevelt:
Senator Thomas Sees New Pros
perity Era With Silver As
Primary Money
Washington, Aug. t.?President
Roosevelt today ordered silver made
the property of the government. Im
mediately markets moved upward
and Senator Thomas iD-Okla.) said
the step forecast the beginning of
a "new era in prosperity."
The Presidential degree means
the completion of the taking over
of the nation's supplies of precious
metals, begun by gold nationaliza
tion last year. Domestic stocks of
silver, with some exceptions, are
to be delivered to the treasury
within 90 days> The price to be paid
is 50.01 oents an ounce.
Apart from its implications, some
said the nationalization of silver
lacked unusual significance. The
authority to take over the metal
was granted In the act passed by
the last Congress. It had been pre
dicted on several occasions.
Then, too, the supply which the
treasury will acquire is estimated at
between 50,000,000 and 200.000,000
ounces. The treasury will issue notes
amounting only to the money paid
out for the stocks. Consequently, ad
ditional currency to be issued will
be small, comparatively speaking.
Primary Money.
But Thomas interpreted the ac
tion to mean that silver is "at last
primary money." Nationalization,
he added, could bring only the
"overthrow of the world-wide gold
bloc."
He confidently predicted an in
ternational monetary agreement af
fecting both precious metals and
called off a speaking tour he had
arranged to urge additional curren
cy inflation.
It was the Oklahoman's view that
silver could be nationalized only if
it were regarded as "primary
money."
"This means," he said, "that the
strongest and richest nation has de
cided to make a wider use of silver
as money. This will cause other na
tions to adopt a similar policy."
Secretary Morgenthau made no
comment on the reasons for the
nationalization, merely saying: "I'm
relieved that it's all over." He said
nothing when told that Thomas
charged that the recent sharp rise
in the price of silver showed there
had been a "lgak" as to the treas-j
ury's intention.
It was pointed out, however, that
silver is approaching a world price
of 50 cents an ounce and that un
der the silver purchase act the price,
the government can pay for domes
tic supplies is a maximum of 50,01
cents.
Rising Price.
Some observers said continue^,
treasury buying to carry out the
mandate of thf law. which specified
that the supply of silver maintain
ed" as a currency base should be one
third that of gold, might force the
world price above SO cent*. In that
event It waa asserted, there would
h! * ,empuUon to smuggle domes
k out f the country NaUon
alization would prevent that.
.71* boJ* 01 President Rooaevelt
for an International monetary con-'
ference to arrive at an understand
ing on both gold and silver was
Pfctaly shown in his message to
Congress urging the silver leglsla
tionalinM.' ^ ** metoI was M
"f fid Informal parleys had al
ready begun. How far they have pro
pressed remains unreavealed to th*
general public.
Many of the Senators who with
Thomas strove for the passage of
silver legislation last session, said
they were not particularly interest
little natlonaIiiaUoD-that It meant
One interpretation was that the
treasury Intends to speed Its silver
buying program. This contributed
apparently to the rise on commo
dity and stock markets. J
Morgenthau said the treasury for
the present at least would continue
to issue certificates based on the
ccst of the silver rather than the
otmce ary vaIue of $129 an
, authorlzes. but does not
direct issuance at the higher figure
the use of which, with silver bought
at much lower prices, would be dis
tinctly Inflationary.
The silver order followed by a
Uttto over a year the similar action
calling in all gold. If differs, how
ever in several minor respects.
Chief among them is that United
fi^?. yer COins wU1 continue to
whereas gold coins
were withdrawn.
Exempted from the order also
C(>'ns of foreign nations, or
sUver owned by foreign govern-'
ments and central banks, and silver
In fabricated articles.
toNilW,Lmlned metal continue
L , , " n by ^ treasury at
m 1-2 cents an ounce, silver that
may * imported is also untouched
as well as that in the nation's island
possessions.
Treasury officials said approxi
h!atd no4?;00? 000 0unces were held
n depositories recognized by the'
metal exchanges. They added any
flfture as to that hoarded elsewhere
would be only a guess
Testimony before Congreslsonal
ST at the sSSon^l
mated the total in thld country at
between 150.000.000 and 250.oSi.000
Since that time, the treasury has'
here Purchaser of silver
itv oT' "nder ^ author
ty of the silver purchase act
These operations have been purpose
th S mystery, cloaked bv
the $1,800,000,000 stabilization fund
to prevent speculators from obtainJ
The 10141 amount
sliver which must be bought to!
STATEMENT
CAROLINA INSURANCE COMPANY?Wilmington, N. C.
Condition December 31, 1933, As Shown By Statement FUed.
? irr
Amount of Capital paid in cast) ( 500,000.00
Amount Ledger Assets Dec. 31st previous year?$2,240,728.41;
? Increase paid-up Capital. $0; Total 2,240,728.41
Income ? From Policyholders $413,89034; Miscellaneous
$85,04634; Total 498,936.63
Disbursements?To Policyholders, $207,491.44; Miscellaneous,
$341,106.94; Total 548,59838
Fire Risks?Written or renewed during year, $1,353 309.36;
In force 1,014,169.00
All Other Risks?Written or renewed during year, $233331.78;
In force, 86301.00
Assets
Value of Real Estate . ?sv.t .$ 70.500.00
Mortgage Loans on Real Estate 311.859.51
Value of Bonds and Stocks 1,498.883.50
Deposited in Trust Companies and Banks not on Ihterest 110.325.84
Deposited in Trust Companies and Banks on interest 5,974.43
Agents' balances, representing business written subsequent to
October 1, 1933 188,198.73
Agents' balances, representing business written prior to Oc
tober 1, 1933 4,70738
Interest and Rents due and accrued ...v......: 23,102.52
All other Assets, as detailed in statement 617.12
Total ,. $2,214,16933
Less* Assets not admitted t........ 117,929.08
Total admitted Assets ......$2,096,240,15
Liabilities
Net amount of unpaid losses and claims $ 83.190.00
Unearned premiums T; 507,225,26
Salaries, rents, expenses, bills, accounts, fees, etc.. due or
accrued 27,500.00
Estimated amount payable for Federal, State, county and
municplal taxes due or accrued 2.500.00
Reinsurance and return premiums due otheT companies . 207,822.16
All other liabilities, as detailed in statement 140.832.00
Total amount of all liabilities except Capital $ 969.069,42
Capital actually paid up in cash $500,000.00
'Surplus o\cr all liabilities 627,170,73
Surplus as regards* Policyholders .$1,127,170.73
Total Liabilities $2,096,240.15
BUSINESS IN NORTH CAROLINA DURING 1933
Fire Risks written $2.296,632 ; Premiums received' $ 35.299.00
All other Risks written 443900.; Premiums Received ? 1.061.00
Losses Incurred?Fire 17311.; Paid . 22,772.00
Losses incurred?All other ... >-40.; Paid . 40.00
President, Wilfred Kenth; Secretary, Vincent P. Wyatt
Home Office, Wilmington, N. C.
Attorney for service: DAN C. BONEY, Insurance Commissioner,
Rsieigh. Nt C, -
_M*nager for North Carolina; Home Office
STATE OF NORTH CAROLINA,
(Seal) insurance department
Raleigh, April 30th, ,1934
I. DAN C. BONEY, Insurance Commissioner, do hereby certify that
the aBove Is a true and correct abstract of the statement of* the
Carolina Insurance Company of Wilmington, n. C., filed with this De
partment. showing the condition of said Company, on the 31st day
of December, 1933.
Witness my hand and official seal, the day and year above written.
DAN C. BONEY, Insurance Commissioner.
AMAZE A MINUTE
SCIENTIFACTS ?. BY ARNOLD
A SUN.
OF iron/
A SON MADS OP
WHITE-MbT IROr? ONLY,
WOOLD COOL TO THE
FREEZING POfNT IN 48
YEARS.
An island going to the sea
Heligoland in BOO A.D. HAD
A CIRCUMFERENCE OF 120 MILES, BUT
HAS BEJEN WASHED AWAY UNTIL HOW
ITS CIRCUMFERENCE IS BUT 5 MILES.
Life cells
A man's body has about
26 THOUSAND BIUION CELLS.
(CowrttW. ? . ?y TW ?*! ?|Bfi ?? i. t?Q
bring the 25-75 ratio with gold has
been estimated at around 1,300,000 j
ounces.
o I
DROWNED BOY
FOOLS DOCTOR
AND CORONER!
New York 9Uto Youth Who 'Re
Mained Under Wates 10 Minutes
Has His Own Death Certificate
One of the most unusual incidents j
on record occurred at Manhassett,.
N. Y.. Saturday. The boy was dead. |
The doctor said so. Hie coroner |
concurred. They called the under-1
taker.
Everyone in the crowd that,
gathered on the dock when the lad, I
Stanley Kadtuboski, 10 years old, j
was handled from Manhassett bay j
early Sunday night agreed. No one
can stay under water 10 minutes and
live.
A docter examined the body. No
pulse, no breathing, no movement.
The boy was dead.
The coroner came. He shouldered
his way through the group gather
ed about the silent form, and made
his professional examination. He
executed the papers of death. One
cannot drown in Manhassettbay ex
cept there be coroner's papers later
to mike it official.
The crowd remained, awaiting
the arrival of the undertaker.
John Symes. of the Nassau coun
ty police, was present. He was not
too experienced with tragedy of the
sea. but at police school be had paid
attention to the course on life sav
ing.
As they waited for the hearse,
Syme stepped forward.
"Let me show you fellows how
they, taught us to save lives at po
lice school," he"" remarked.
The ppliceman bent over the body
of the boy who had been pronounc
ed dead two hours before. The
steady pumping of arms, the push
ing of chest began. Artificial res
piration.
The coroner had completed his
report, and waited impatiently for
the undertaker. Dr. David Qurin
stood nearby, likewise watlng.
The limp arms of Stanley Kad
lubaskl were being pumped rhyth
mically as Officer Symes warmed up
to his exhibition of police school
methods of life saving.
One of Stanley Kadluboski's j
eyelids fluttered. It wasn't much,
but Dr. Ourin saw it and leaped
forward. Life!
A few minutes later the boy, hold
ing in his left hand a?certificate
stating he departed thrf llfe at 7:25
P. M., was shaking hands with the
coroner.
N. Y. WOMAN .
DIES IN TRIPLE
EXECUTION
Woman And Two Men Go To Death
In Insurance Slaying Of
Woman's Husband
Osjsining. N. Y.. Aug. 9.?Mrs. An
na Antonio, 29-year-old. mother of
three children, was put to death In
the electric chair tonight at Sing
Sing for the 95.000 insurance mur
der of her husband. J.
In swift suc^pssion her condemn
ed confederates, Vincent Saetta, 34.
and Samuel Parraci. 43. followed
Mrs. Antonio to the.execution cham
ber and were put to death.
Mrs. Antonio wts escorted into the
death chamber by a priest and two
matrons. She was attired in a light
blue gingham dress, and said noth
ing.
But as die was seated In the elec
tric chair' at 10:13 p. m. eastern
standard time, she mumbled, almost
under her breath, prayers after the
clergyman
BASEBALL LOSES
VETERAN FIGURE
Wilbert Robinson Dies Suddenly At
Atlanta; Famed As Manager
Of Dodgers
Atlanta, Aug. 8.?Wilbert Robin
son. 74-year-old president of the
Atlanta baseball club of the South'
era Association and former mana
ger of the Brooklyn Dodgers, died
at 10:30 o'clock tonight following a
hemorrhage of the brain.
Robinson, who became one of
baseball's greatest players as a
member of the old Baltimore Ori
oles. retired as manager of the
Dodgers several years ago and came
to his country place, Dover Hall, in
Georgia.
j He was called back to service to
become president of the Atlanta
Crackers in 1932 and had taken an
active hand in trying to build the
club into a pennant contender.
1 He was also interested as part
| owner in the Charlotte club of the
I Piedmont League,
i Apparently in the best of health,
j Robinson, who was known among
baseball players and fans alike, as
"Uncle Robby," went about his us
ual routine today, but went to bis
| hotel room when he "felt faint late
! in the afternoon.
j Upon reaching his room, he fell,
breaking an arm. and was carried
I to a hospital, where it was found
I that he had suffered tt hemorrhage.
| He lost consciousness soon after the
fall.
One of kite most beloved of base
ball's figures! Robinson broke in
with Haverhill, Mass., as catcher
and caught the late John Tener, one
time governor of Pennsylvania and
president of the National League.
Going to the Orioles In 1890, he
was catcher for the club when it
made history and is still looked
upon as one of the greatest aggre
gations ever assembled on a dia
mond. Along with Brouthers, Mc
Mahon and Gleason, he was one of
the Orioles' outstanding veterans.
Professional Cards
Dr. ROBT. E. LONG
Dentist
Wilburn ft Satterfleld Building
Main Street - Roxboro, N. O.
B. I. SATTERF1ELD
ATTORNEY-AT-LAW
Roxboro-Durham, N. C.
Roxboro Office: Thomas ft Carrei
Building. In office Monday ant
Saturdays.
Durham Office: 403 Trust Build
tag- In Durham Office Tuesday.
Wednesday. Thursday and Fri
day each week.
DR. G. C. VICKERS
Dentist
Office at residence, on Route No
144, near T. H. Street old home
Mill Creek.
N. LUNSFORD
Attorney-at-law
Office over Thomas ft CarveT Bldg.
Roxboro, N. C.
DR. J. H. HUGHES
Dentist
Office ta Hotel Jones, next door
to Dr. Tucker's Offlee
Dr. J. D. BRADSHER
Office over Wilburn ft 8a tterfl eld's
8tore Building.
john'gash
Repair your shoes and repair your
chairs. Under Wilburn ft Satterfleld.
TO HOLD HEARING
OfV TOBACCO CODE
ON AUGUST 29TH
T. EstaMWf 44-Hour
t?. ^ -f"Hour Omj. Buk.?
Thinks Johnson Should* Quit
todlr^T' Aug "?Attention
today wis directed to the fact that
the large^and important cigarette
tadustry-has not yet been bESrt'
Jhe^nn 00(16 of lu own. By
the announcement that a hearing on'
?* the
tor the cigarette, snuff, chewing and
smoking tobacco Industries would be'
held on August 29.
It is proposed to establish a 40- '
hour maximum week and an 8-hour1
day. In cases of emergency, longer
hours may be worked; but over
at the rate of time and a third
must be paid.
Engineers, firemen and shipping
employes would be p ermitted to
work 44 hours a week and 9 hours a
day and watchmen may be worked
56 hours a week.
, i^J48/hOUr week wouId ^ pro
vided for employes working on as
signments connected with the han
ging and prizing of green leaf to
bacco during the leaf buying season.
Executive, managerial and .super
visory employes would not be sub
ject to a limitation of hours.
A minimum wage of 40 cents an
hour would be provided for factory
or mechanical workers, or artisans
Hangers, stemmers, searchers pick
ers and those employes engaged in
the processing of plug and twist
manufacture would be paid for
those who work upon hourly rates,
Sn?. 2*<*ntS M hour t0
Clerical or office help would be
paid not less than $15 a week ex
cept that office boys and girls'
would be paid at a rate not less than'
wa?erw??,0f 018 reguIar minimum;
le? ?hWat?*?en would be paid not'
j less than $18 a week.
Think Johnson Should Resign.
! Turner W. Battle, assistant to Sec
retary of Labor Perkins, announced
today that the Department of Labor
1!UC,rmed the "^y created Na-1
, Labor Relations Board, of
which Dr. Lloyd Garrison is chair
man, that in the opinion of the de-:
^rtment opposition to Professor
I Theodore S. Johnson of the State'
iCoUege unit of the University of
North Carolina is" so great as to
,make it undesirable that he remain
i as chairman of the North Carolina
Cotton Textile Industrial Relations
?ooard.
"Our opposition is in no sense a
reflection upon Professor Johnson
and we know nothing about the
?. ?0' the criticism against him,"
^ Battle "We are ^mply
.taking the position there, as we
(have taken in other cases, that an
TSS.T haV? the confidence
f both sides to be successful and
it is clear from information reach
big us that Professor Johnson does
not have this confidence, whether
the criticism against him is Justified
I or not."
..Under the old law Professor
8?Uldt have i*66" removed
only by the National Cotton Tex
1116 Rf'attons Board, of which Rob
|?t W. Bruere is chairman and L.
R. Gilbert secretary to ttoe board
old today that Professor Johnson s
services have been wholly satisfac
tory to the national board.
"He Is' a splendid man and every
decision of the state board has been
upheld by the national board," said
Mr/ Gilbert.
0
Gates County farmers will buy
foundation sioea o f pure bred
Guernsey cows from Davie County
as a part of the tntw deal farming
begun by Parm 'Agent Rich. ^ '
STOVE PIFE STAINS
mulate on and around the stove
pipe, may be easily removed by the
use of ammonia Allow it to remain
on the spot for a while and then
rub.
. . .
CHAMOIS GLOVES
A beautifully soft finish can be
given washable kid and chamois
1 gloves, if after washing and drying
I them on the hands, talcum powder
is rubbed in.
The Record Shows
THAT BUILDING AND LOAN
INVESTMENTS ARE SAFEST
We Solicit Your Savings on the Weekly
or Monthly Installment Plan
50 cents per week will produce $200.00
$2.50 per week will produce $1,000.00
New Series Opens Early In July
ROXBORO BUILDING & LOAN
ASSOCIATION
J. S. Walker, Sec.-Treas.
MEMBER FEDERAL HOME LOAN BANK
LABOR DAY
Monday, September 3
Spend the Week End and Labor Day in the Country?
the Mountains?at the Seashore, or visiting Friends and Rela
tives Back Home.
Our Very Low Fares make a Short Vacation extremely
economical.
Tickets On Sale Daily
One Way and Round Trip Par Mile
Coach Tickets 1? CCIlt$ Traveled
?Round Trip Tickets ? 1 a. Per Mile
Return Limit 15 Days * CCIltS Traveled '' *
?Round Trip Tickets fti Per Mile
Return Limit 6 Months CCIltS Traveled
?One Way Tickets 3 CCIltS Per Mile
* Good in Sleeping and Parlor Cart on payment of proper charge!
for space occupied. No Surcharge.
Compartment, Drawing Room and Open Section Sleeping Cars
Modern Coaches?Convenient Schedules
Be Comfortable in the Safety of Train Travel
For full information consult
YOUR LOCAL TICKET AGENT OR COMMUNICATE WITH
J. S. BLOODWORTH, D.PJL, RALEIGH, N. C PHONE 621
Southern Railway
System
IOO MILES MORE TO GO
AND I'M GROGGY AS A
.MARATHON DANCER. IF
I OON'T DO ,
SOMETHING ILL
LAND IN A DITCH.
V
' YES. BROTHER-THIS IS
PAUSEVILLE-WHERE THE
REDCOCA-COLA_SU3N
> MOQE
STOPS MORE PEOPLE THAN
THE TRAFFIC LIGHT AT ?
, THE
sov _ /j
THIS ICE-COL
COCA-COLA
IS JUST
WHAT
1 NEED/^?
? NOW I FEEL>
LIKE GUIDING*
THESE OLD
WAGON WHEE
AND BOX
they're
CAI?l?yiNO
ME
home/
THE DRINK THAT
KEEPS YOU FEELING Fll
FOR WHAT'S AHEAD
Delitions ,tnd Refreshir?i?
Order by the com (24 bottlei) from
your dealer..,.Keep It cofd and
ready to Mrve in your refrigerator.
COCA-COLA BOTTLING CO.
PHONE m
ROXBORO. N. C.