SfflE MARKETS 10 VEIII NOTES FIVE MILLION DISPOSED ? OF ABOVE PAR AT 5.50 PER CENT BY GOVERNOR. NO BONDS OFFERED FOR SALE Loan Was Placed Through Syndicate Headed By First National Bank of New York. Raleigh. Five million dollars in notes, dated September 20, 1923, and due Septem ber 20, 1925, bearing an intereet rate of five and one-half per cent, but sell ing at 10.75 and netting an interest rate of 5.10 were sold by Governor Cameron Morrison and State Treas urer B. R. Lacy in New York. The loan was placed through a syndicate headed by the First National Bank of New York. Two year notes were issued in pref erence to a shorter period in order to avoid too heavy maturities of short term paper next year, declared the Governor upon his return to the city. He regards the deal with satisfaction, in the light of the preeent condition of the money markets, and the unus ually high interest rate prevailing." "The State's credit is in fine shape, nothing the matter except the fact that money is tight," he declared. "We could have sold bonds for 4.60, but anybody can see that it would be better to pay 5.10 for two years than to pay 4.60 for forty years when we can get the money later &?. 4 per cent," the Governor declared. No bonds were offered for sale after the Governor and Mr. Lacy investi gated the market. ? Recent issues of Illinois bonds at 4.50 failed to receive a bid. Advertisements of the notes are carried in The New York Times, listing the State's property values at $2,5T9,075,600 and itR bonded debt. Proceeds of the sale of the notes will tide the State over its construc tion obligations for several months, the Governor eaid. It will probably be prorated among the Highway Com mission, State College, the University aid other Institutions engaged in per manent improvements authorized by the last General Assembly. 8tate Receipts Over Four Million. Total collections from January 1 to date of $4,220,445.96 was announced by Commissioner of Revenue R. A. Doughton, the figure comparing fa vorably with Budget Commission esti mates which placed the total income of the general fund for the year at eight millions of dollars. Income taxes set down by the Bud fet Commission at $3,500,000 have al ready amounted to $3,661,475.30 but th? figures include all collections, includ ing $200,000 in back income taxes es timated separately by the commission. However, it is expected that by the end of the year the estimate will be exceeded. The biggest drop is Inheritance taxoe which were estimated at $900,000 for the year and have yielded only $229, 894.68 during the first eight months. The other items in the total to date follow: Schedule B, $297,167.60; inter est from banks, $5,000.69; telephone tax, $22,250.71; Pulman tax, $4,701.98. Heavy increases are expected in the schedule B tax which was estimated for the year at $450,000, while the franchise taxes, estimated at $775,000 began to come in for the first time and the initial inctallments are not reflect ed in the figures, which are as of Sat urday night. . The bulk of the State's operating tund is now collected by Commissio:/ er Doughton but the insurance depart ment takes in over a million dollars annually and lesser amounts are col lected by other departments of the government. County Agents Doing Good work. Mrs. Jane S. McKimmon, director of home demonstration work for North ?Carolina State College and the De partment of agriculture, has outlined the wor]j of the department ehe heads, .telling of the activities of the numer ous county demonstration agents and how they endeavor to better the home life of the farmers of North Carolina, ?not by talking and telling them how to do things, but by showing them how by doing the things themselves. The position of the county home demon stration agent is no "soft job," accord ing to Mrs. McKimmon, but she said there are few home demonetration agents who would change their work if they had the opportunity. Select Currle's Lake for Hatchery. Fayettevjlle. ? (Special.) ? Curries Lake, ten miles west of Fayetteville, has been chosen by the State Fisheries Commission as the site for the State hatchery to be placed; in Eastern North Carolina, according to an* nouncement made by Frank H. Sted man, a member of the commission. The Cumberland county location was adopted at a meeting in Morehead City by unanimous vote of thee mem bers of tke commission who were here several weeks ago and surveyed ^lumber of sheets of water. v Unveil Aycock Memorial Nov. 1. North Carolina school children's memorial to Charles Brantley Aycock, the Governor who laid the foundation for the great State system of public schools, will be unveiled with impres sive ceremonies on Capitol Square, November 1, the day being the 64th birthday of the "JEducational Gover nor," who died 11 years ago. Two close friends of the late gover nor will be the chief speakers for the dedication, Dr. Edwin A. Alderman, president of the University of Vir ginia, who will present the monument, and Josephus Daniels, who will de liver the memorial address. Gover nor Cameron Morrison will accept the memeorial on behalf the people of the State. The monument, executed by Gutzon Borglum, the foremost of American sculptors, will be erected to the left of the Fayetteville street entrance to the Capitol grounds, the entrance being re modeled to preserve the balance with the monument to; the State's other great educational leader, Dr. Chas. D. Mclver, which stands across tlje way. The central piece of the memeorial will be portrait of Governor Aycock done in bronze, and standing seven and one-half feet high. On either side will be tablets memorializing his con tribution to the progress of the State. The entire structure will be mounted on a marble pedestral. Work of set ting up the monument is expected to begin at an early date. The complete monument will cost approximately $18,000. The commis sion for the work was given to Mr. Borglum about two years ago, and the design accepted about a year ago. The model was sent to Europe for casting and has but recently been re turned. Members of the memorial committee are: George C. Royal, Na than O'Berry, B. R. Lacy, Dr. J. Y. Joy ner, Dr. Albert Anderson and Judge Francis D. Winston, Condemn Old Trinity Building. Old Trinity College, in which a State high school has been maintained for some years at Old Trinity, Ran dolph county, has been condemned by Special Agent Brockwell, of the State Insurance Department, after brief in spection of the building by him. Ac cording to his posted notice, the lower floor of the building can be used but none of the upper floors, which in- j eludes the two big auditoriums, until , the defects are remedied. It is stated that the west wall of the building is oul of plumb and pos sibly dangerous, but the main defect noted was that there are not sufficient means of egress from the upper floors, though there are three broad stair* ways leading downward from the main auditorium which is on the second floor. The action of the insurance depart ment's agent has caused consterna tion in the community in view of the fact that the school, with 13 teachers, J Is scheduled to open for the fall term ! September ^ J7> ,and the lower floor of j the building is sufficient for not more than half of the school. It is probable , that some adjacent house will be used for the other grades. The 'main problem developed is that when the building ceases to be used for school purposes, it is said, the en tire property, including about 15 acres of land, will revert to the heirs of James Leach, who originally granted the land to Trinity College in trust for the maintenance of a school, the prop erty having been sold by Trinity Col lege five years ago to the Randolph county board of education. There is much criticism of the con demnation proceedings just before the opening of the school, but it is claimed that the whole matter can be remedied by prompt and proper action of the school authorities in remedying the defects. Many Chickens at Stite Fair. A. G. Oliver, State poultry extension agent, has gone and done it. He has gathered together some $2,700 in prizes for the poultry division of the North*Carolina State Fair to say noth ing of five hundred dollars that are offered members of the boys' and girl's poultry clubs. That would be a sizable achieve ment in itself; but Oliver has done more. He has gotten more than a thousand dollars for the special classi'j fication that is opefc to all comers, and some of the biggest and best poultry j breeders in the country have entered exhibits for the fair. Of course, they have an eye out for some blue ribbons and honors, but the money is also a real attraction. General Manager E. V. Walborn, who has been going to State fairs over the country for quite a while, says that the poultry show this year will be just about the best of any of the State fairs. And he denies that he is trying to "string' anybody for what are known to the trade as "string'' fowl ex. ! hlbitors are barred from the State i Fair. By "6tring" poultry shows is ! understood those exhibits that the fairs pay to get. Plan Development of Pigeon River. Washington, (Special.) ? Plans for the ultimate development of a pro ject on the Eig Pigeon river in North Carolina to produce about 150,000 horsepower have been filed with the Federal Power Commission by the Pigeon River Company in connec tion with its application for a Federal license. The project will be located near the North Carolina-Tennessea State line. A diversion dam and tun< nel will comprise the initial develop ment to produce 50,000 horse power. ? ? . fitta 1? Battleship South Dakota, partly completed, now offered for sale as Junk. 2? Members of the "Hitler Guard" in Bavaria out for a military drill. 3 ? Memorial to F. W. Galbralth, late commander of American Legion, to be un veiled in Cincinnati on Armistice day b y General Pershing. NEWS REVIEW OF CURRENT EVENTS Italy Promises to Evacuate the Greek Island of Corfu on September 27. FIUME DISPUTE DANGEROUS Chancellor Stresemann's Plan to Mort gage All German Property ? Relief Work for Japan ? Spanish Army Revolt* Against Government American Destroyers Wrecked. By EDWARD W. PICKARD ITALY ? which means Premier Mus solini ? became mure reasonable last week In the matter of the occupation of Corfu and the dispute with Greece. In the council of ambassadors Lord Crewe Intimated that Great Britain could not permit the Italians to hold Corfu until Greece had executed all the terms and demands, including the arrest and punishment of the mur derers of the Albanian boundary com missioners, and there were unofficial references to the British fleet, which was supposed to be concentrated at Malta. Baron Avezzana thereupon agreed reluctantly that Italy should evacuate Corfu on September 27, and the ambassadors accepted this promise. Italy, however, Insisted that if the assassins were, not discovered by the Interallied commission of Inquiry and duly punished, Greece shall pay heavy Indemnity, not to exceed the 50,000,000 lire she has deposited in a Swiss bank. If the murderers are found pnd pun ished, the payment to be exacted will be nominal. To this also the ambas sadors agreed. Baron Avezzana said his government fully believed Greek officers were responsible for the crime and that the Athens government would do all It could to hide the criminals and save them from punishment. Early in the week It seenuHl that the Italo-Greek row had been ended by the decision of the ambassadors, who im posed on Greece conditions almost iden tical with those in Mussolini's ulti matum. Both nations accepted these, but the quibbling that followed almost exhausted the patience of the League of Nations, and the little powers in the league saw in Italy's tactics a threat against their own future safety. Mussolini complained that Greece was doing nothing to find the murderers of the boundary commissioners. There upon Greece arrested a number of men and also, asserting that the real crim inals were Albanians, called on Al bania to capture them. Albania re plied that the Albanian authorities would be pleased to cross over into Greece and arrest them if the Greek government was not able to do it. OF ITALY'S two quarrels, that with Jugo-Slavia held the greater pos sibilities of expanding into actual hos i tllities. If It should result in warfare, however, Greece also might well be In volved. M. NInchlch, head of the Jugo slavian delegation in Geneva, said he had not yet gone beyond the stage of negotiations. In Paris it was asserted .that Italy was about to proclaim the annexation of Flume and that Jugo slavia would make no serious protest provided Sussak and Porto Barros, adjacent towns, were not directly af fected. Italian troops are concentrated at Trieste and the Italian navy is ready at Taranto. The Serbs aVe hur riedly reorganizing their army on French lines and are getting great quantities of ammunition from France, purchased with part of their new French loan of 300,000,000 francs. Colonel Gonatas, head of the Greek government, says Italy Is sending large quantities of arms and ammu nition to Varna to equip the Bulga rians for war if Jugo-Slavia and Greece combine against Italy. Ru mania and Czechoslovakia show Indi cations of remaining neutral or siding with Rome. AS MAY be supposed, the sessions of the League of Nations last week were not especially pleasant. Delegates of the lesser nations were Inpatient and dissatisfied, and repre sentatives of the great powers, espe cially Lord Robert Cecil, were on the defensive. For several days, at the request of President Do la Torrlente, the Corfu and Fluine affairs were not openly discussed, and the league de voted itself to the Austrian situation, concerning which It could properly congratulate Itself. But finally Hjal mar Brantlng of Sweden broke loose when the commission for disarmament was debating the proposed treaty of mutual guarantees. Declaring this to be a coercive Instrument, he asserted the covenant already has shown Itself to be rather fragile In practice, and he questioned the wisdom of taking steps toward more stringent measures when the league cannot enforce those it has. Other severe critics of the league's general policy and especially of the al leged failure of the great powers to live up to the covenant were Dr. Chris tian Lange of Norway and Prince Ar faed Dovleh of Persia. SEIZING the opening presented, the Republican national committee last week issued a statement to show at length how the "failure" of the League of Nations to function in the Italo Greek dispute has completely vindi cated the opposition of the Republican party to American membership in the league and to American entanglement in any such European affairs. The committee made no direct mention of the world court. Chancellor stresemann, in an address to a group of editors, made public his plan for reparations and settlement of the Ruhr problem. He said In part: "According to the Versailles treaty, Germany's indebtedness Is guaranteed by national property. What I propose concerns direct collaboration of pri vate property and therefore goes be yond the Versailles treaty. Our call ing upon private property In Germany creates realizable security, whereas the securities under the Versailles treaty cannot be cashed at present. "If mortgages are inscribed as first mortgages on state and private prop erty of the entire economic system of Germany In favor of the German state ? to a certain percentage ? these mort gages can be considered realizable and movable value ? and brought Into a trustee company in the administration of which reparations the creditors would participate. The Interest on this mortgage would go to the trus tee company, which would take up tne loans after issuing obligations based on these mortgages and their interest. This would give France possession of big sums as well as turn the Interest payments into cash In a set time. "Such fulfillment certainly is not theoretical nor general guarantees, but real facts, free from ambiguity. This offer can place Prance in possession of payments, upon which all the con ditions the French made for withdraw ing from the Ruhr are fulfillable. "In order to make it actual, it is re quired that the Ruhr again be under German control and the German sov ereignty restored in the Rhineland. Our offer can bring a solution to the passive resistance if we are given a guarantee that after an agreement has been reached the Huhr will be evacu ated and the old rights restored in the Rhineland." Herr Stresemann tacitly admitted Germany had lost out in the Ruhr but made no direct reference to the gov ernment's readiness to call off passive resistance. France still insists that passive re sistance must be officially ended, and also that evacuation of the Ruhr can only be effected in proportion to pay ments made. JAPAN'S earthquake disaster has lost nothing in gravity or horror with the receipt of more complete details. Numbering the victims is still impos sible, and probably always will be, but the total casualties are estimated by the Japanese home office at consid erably over a million, and it is thought the deaths are more than 200,000. Having restored order quickly, the Japanese government is devoting it self to the vast work of relief and re construction? with the co-operation of the rest of the world, especially Anjer Ica. Our Red Cross relief fund is. far over the $5,000,000 mark and increas ing daily, for an immense sum will be needed. The organization, besides cabling $1,000,000 for Immediate pur chases in nearby markets, 1s buying and sending large quantities of sup plies and clothing, and also corrugated iron and/ other building materials. SPAIN'S internal troubles reached a 'climax last Thursday when the long threatened revolution began with the revolt of most of the army, led by the captain general of Barcelona, Gen. Primo-Rivera. That officer declared a state of siege itf" the district, seized the communications and issued a proc lamation declaring the army called on the sovereign to save Spain and asking the dismissal of the present ministers. Garrisons in other cities adhered to the military movement, which thereby assumed the importance of a real coup d'etat. The revolt is not directed against the king. The cabinet de clared Itself in permanent session and said it would abandon its position only under force. NE of the most tragic epochs in v-J American history relative to law enforcement" is what Attorney General Daugherty calls the 41 months that have elapsed since the enactment of the Volstead act, in a report sub mitted to President Coolidge concern ing the, work of the federal judiciary in enforcing prohibition. An official synopsis says the report "reveals, among other things, that the Depart ment of Justice has been called upon to prosecute a member of the judiciary, prominent members of the American bar, high officials of the federal and state government, millionaires, scions of the nation's aristocracy ? a sordid story of assassination, bribery and cor ruption that found Its way into the very sanctums wherein the inviolabil ity of the law was presumed to have been held sacred." Part of the general lack of respect for the dry law may well be laid to the pettiness of many of the enforce ment officers. For Instance: Last week the British yacht Frontiersman, commanded by Roger Pocock and manned by members of the Adventur- , ers' club of London, entered San Pedro harbor, California, in the course of her j trip to find a round-the-world path for British aviators. Federal officers promptly raided the little vessel and seized its private store of liquors and attached the boat. That sort of thing only disgusts those who know the prevalence of bootlegging and moon shining by our own citizens. ANTHRACITE operators and min- ! ers settled all their differences ' and signed a two-year agreement, and mining is about to be resumed. The J pact gives the men a 10 per cent wage j increase, the eight-hour day, collective bargaining and revision of wage rates and schedules. The workers gave up the check-off system of collecting union dues. As usual the public will pay for this, as anthracite coal will j be advanced 75 cents or $1 a ton. That is, unless Governor Pinchot's plans to avert this are successful. He believes j the interstate commerce commission ! should consider a new anthracite 1 freight rafe to help absorb the wage j increase, and wants the federal coal commission to make public its findings j on profits and costs of mine operations end in wholesale and retail distribu tion. He suggests the other governors join him in seeking methods to pre vent the higher prices. President Coolidge has let It be known that he and the federal agencies will do all they can in this line, and when con gress assembles the President will rec ommend such legislation as the coal commission sponsors. ONE of the most serious disastefs i that ever befell the American ! navy was the wrecking of seven de- J stroyers off Arguello light, 75 miles north of Santa Barbara, Cal. The ves- I sels were traveling south in formation, at 20 knots, in a heavy sea and dense fog. They crashed on the rocks, and were a total loss. Twenty-three mem bers of their crews lost their lives. The destroyers were of the latest models and cost, when put into serv ice a few years ago, $500,000 apiece. THE eclipse of the sun was a dismal failure, so far as the scientists were concerned. It came off accord ing to schedule, as eclipses have a habit of doing, but the phenomenon was so obscured by clouds that all the photographs taken in the path of total ity, at the southwest corner of the United States and in Mexico, are prac tically useless. nmMiiirfi^i ifMitfi f i'i f A ? 'ir f in V'* i - Mr.. K.M. ScU,^ , ' 'No. 5. LowtHo^ "I have been suffer with female trouble \Y- * on five years ag0. 'it ^ some but I did rot strength. Two years i?* I taken sick ind months. I treated a L* without much relief t *' couraged my mind' *? nervous I could neither sleep and unable todo'atft We tried several do?, one after another gave un 1 as hopeless. Final? a ^ advised me to try Pe-n^ It relieved me almost in. J Your medical department, vcas sufiering from chronic a of the; system. I began utiat medicine in March, 1914 ^3 tinued until August. I'm bottles of Pe-ru-na and thru ties of Man-a-lin and felt 1 new person. 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