Newspapers / The Elkin Tribune (Elkin, … / Feb. 8, 1940, edition 1 / Page 11
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AMERICANS WILL SAVE 3 BILLION Various Organizations to Help Citizens Accumulate , Funds During 1940 SAVING IS VOLUNTARY By MO&TON BODFISH Executive Vice President United States Savings and Loan League At least $3,000,000,000 will be put aside by the American people in 1940 to use at some future time rather than for current needs and indulgences. Sharing in the care of these saved up dol lars will be the savings, building and loan associations, the life in surance companies, the savings and commercial banks, a few installment savings concerns, the United States Government through its postal savings and small denomination bonds, and in a few cases the family sugar jar or the mattress. All of this money will be saved voluntarily, exclusive of any collective opera tions, such as the social securi ty, to provide for the future of our citizens. In spite of all modernistic theories about saving and spend ing, the fact still remains that capital expansion and increased standards of living depend on such margins of saving over ex penditure which each generation accomplishes. Thus, the addi tions which are made to the na tion's fund of private, voluntary savings, this year are significant in the entire economic system. The most important question which the man saving money in 1940 faces is how much return the general financial policy of the coming years will permit his sav ings to earn. The recent years' downward pressure on interest rates from public officials has cut heavily into what people had come to consider the normal in come from a dollar saved. The obvious greater interest of gov ernment in the borrower than the lender, who is in reality the sav er, has tended to penalize the man who puts off the use of his money and favor the one who spends money before he earns it. The wisdom of such policy is decidedly questionable when we see what part thrift plays in our national progress. Accumulations of savings in private trustee in Police A Over Youth's Ads of C Tulsa, Okla. —Police here nom inated their 13-year-old prisoner as crime's most amazing prodigy. He confessed: That he committed 65 acts of burglary. That he disposed of all S2O bills, and those larger by flushing them down toilets "because if a kid of my age had bills that big people would ask questions." That he spent most of his plun der "on the girls—you know how that is." Then, he offered to wager, five to two, that he could open the county attorney's safe and when there were no takers, tried it "just to show you." In three min utes the door swung open. To do it, he slit the tip of his thumb with' a knife. Then he twirled the safe knob slowly. The wound in his thumb, he said, throbbed slightly when the tumblers in the lock fell. And thus he got the combination. In jail, he decided to "become a G-man" instead of a criminal. "After all, if A 1 Capone couldn't make it, I can't," he said. "It's more fun anyway to be a G-man." stitutions totalled $51,700,000,000 a year ago and represented about a sixth of the estimated to f al na tional wealth. This was ided among some 100,000,000 me wo men and children and accom plished the most equitable distri bution of wealth which a free na tion has ever experienced. This is a healthy situation which thoughtful business lead ers and public spirited citizens should, not permit to deteriorate. The country was built by thrifty, self-sacrificing persons. Its thrift was encouraged by the payment of an adequate return on the saved dollar. A much needed safeguard for our economic sys tem is some interested and en thusiastic defense of the saver and his rights to be adequately compensated for extending credit. Unless this vigilance is exercised in behalf of the saver 1941, '42 and '43 may not see billions of dollars being put aside voluntar ily by the citizens. Cocaine is pressed from coca leaves. HOTEL ELKIN EXTENDS Sincere Congratulations TO THE Chatham Manufacturing Co. The Chatham Manufacturing Company is entitled to the congratulations and good wishes of everyone upon the completion j)f its modern new addition here. An outstanding Company whose officials have always built, not only for the present, Ipgt for the future, the Chatham Company is not only a credit to Elkin and this section, but to the state and nation. Every member of the personnel of Hotel Elkin joins in extending our congratulations. And to the employees who are newly arrived here from Winston-Salem, we wish to say "Welcome!" We are sure you will like Elkin from the start, and that this liking will grow as yo« learn to know her citizens. May the future hold happiness and contentment for all of you. ' HOTEL ELKIN § T. R. SAMPLE, Manager PHONE 265 /ELKIN, N. C. THE ELKIN TRIBUNE. ELKIN, NORTH CAROLINA Superintendent .jigp R. W. Harris, above, superin tendent of the finishing de partment of the Chatham Man ufacturing Company, and a member of the board of direc tors. Mr. Harris began work with the Chatham Company in 1920. HARRIS HEADS FINISH PLANT Superintendent of Winston- Salem Mill for 14 Years, Is Also Director STARTED IN YEAR 1920 R. W. Harris, superintendent of the Winston-Salem plant of the Chatham Manufacturing Company, went to work for the company on February 1, 1920, beginning in the weaving depart ment, and since that time ad vanced steadily until he reached his present high position. After starting in the weaving department, he was transferred to Elkin in 1924 where he worked for eight months under "the di rection of F. G. Shinn, industrial engineer. He returned to Win ston-Salem in the same year as night superintendent and was soon promoted to general super intendent of the finishing depart ment, a position he has held for the past 14 years. In 1934 Mr. Harris was made a member of the board of directors. In March, 1924, Mr. Harris was married to Miss Elizabeth Hub bard, of Elkln, and is the father of three children, Nancy, Martha and Elizabeth Ann. He and his family will make their home here now that the finishing plant has been moved to Elkin. Favorite hymn of football players must be the one contain ing the line. "Lord, thou knowest our weak formation." —-Welcome To Elkin!—, Drive right into our service station and permit us to greet each of you (new comers to Elkin) in person, and extend our welcome to Elkin and this section. We consider our new population a valuable asset and to the company officials who made it possible we are sincerely ap preciative. Our service is at your disposal any time you call, and we pledge cooperation in any manner possible that your stay here mav be entirely pleasant. WASHING - POLISHING GREASING COMPLETE ONE-STOP J N If Tires Are Worn, Get a Set of NEW ATLAS TIR£S jjgj | |r | Quality Tire At A Low Price. Carried In All Sizes for Cars and Trucks Coke Marion's Esso Service South Bridge Street Phone 337 Elkin, N. C. Sympathetic Butler Butler —So the madam has left you? I'm sorry, sir; I know Just how you feel, sir, Whifflebotham—Go on, James; you never felt that good in your life. It Killed Cat Mother—Stop asking so many questions. Don't you know that curiosity killed the cat? Joany—ls that so? What did the cat want to know? Why Cocktails? Bunchuk—l suppose they serve cocktails at banquets to make the speakers witty? Dzudi—No; it's to make the other people think the speakers are witty. Too Much Money Mrs. Grabb—Any decent hus band would give his wife all the money she wanted to spend. Grabb—Don't be silly, my dear. There isn't that much money. Pag Three Birthday Gift Dots—Oh, dear; tomorrow Is Joe's birthday and I don't know what to give him. He doesn't smoke, or drink, or play cards, or . . . Ruth—That's simple. Give him a hotwater bottle. First Cigar Boogy—That's the first time I ever saw you smoke a cigar. Did you get it from a friend? Woogy—l don't know yet.
The Elkin Tribune (Elkin, N.C.)
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Feb. 8, 1940, edition 1
11
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