North Carolina Newspapers

1 "- i.-. Mortgage Money Demand Continues At Record Pace life : Companies Re port Big Rise In New Loans In January 1 ; fctow real estate mortgage loans made by the nation's life insur ance oomp&nies totaled .S521,tMK)' 000 ;'jini : January, ,, compared with, $317)000,000 a year' ago, according to trie; Institute of Life Insurance. Httwever, the net increase in mort gage holdings in' January was only $295,000,000. : ? Although it has been generally conceded that the greater part of the .war-period shortage of hous ing has now been made -up; the construction of new housing units and consequent demand for mort i gage financing continues at a rec ord pace, according to the Insti tute. Unless there is a curtailment in neW construction in the months ahead it appears certain that the companies will be called upon for more .mortgage loans in 1955 than in 1954, when a record volume of $5,333,000,000 was loaned under mortgages by the life companies. ' Caution Is Urged r "It is important for both lenders and . borrowers, and particularly for the builders, to closely watch the general economic situation and keep,. both construction and mort gage financing on a sound basis," the Institute cautioned. "With a larger share of our population now owning their own homes than has been true since statistics have been kept, the stability and soundness of this important part of family fi nances is of greater significance than ever before.- It is true that a .safety element exists today which did not exist a generation ago, in that practically all mortgages are amortizing and on a budget basis, but at the same time care has to be taken lest too great a mortgage load to be undertaken by families without adequate resources." Life insurance companies have a largrf stake in the mortgage situ ation, on behalf of their 93,000,000 TAYLOR THEATRE EDENTON, N. J. ' Week Day Shows Continuous . ; From 3:3Q. ; , : : Saturday Continuous From J :30 Sunday, 2:15, 4:15 and 8:45 Wed, Thurs, and Fri, April 6-7-8 Robert Taylor and ;" Eleanor Parker in "MANY RIVERS TO CROSS" CinemaScope With ; Stereophonic 'Sound Saturday, April 9 Johnny Weismuller In ' TARZAN ESCAPES" , Late Show Saturday Night 11:15 o'clock ' Cleo Moore in "THE OTHER WOMAN" " . also "STAR ByDS" ' With All Colored Cast Sunday and Monday, April 10-11 Esther Williams and Howard Keel in ' "JUPITER'S DARLING"-.: CinemaScope With , Stereophonic Sound ro '- Tuesday and Wednesday, April 12-13 Double Feature , ' "WEST OF ZANZIBAR" also i Marjorie Main in "RICOCHET ROMANCE" ECEII THEATRE EDENTON, N. C. v - o " - Friday and Saturday, Afrril 8.8 :., Barry Sullivan and ' ' i-t Dorothy Malone in V I "LOOPHOLE" A . f2& Prive-In Theatre Frtday and Saturday, ' AM SS-vZ; William liolden in" "ESCAPE TO FORT BRAVO" ,: i ' i i o ' ' ' y .' Sunday, April 40- Elizabeth Taylor hv "ELEPHANT WALK t ii a -i ,i Monday and Tuesday, April 11.1S . "y Audrey Bepbum In ' "SAERINA" , t ' . ... i t ' t; "nesday and Thursday, - "- J P 1i- , '-A policyholders, according to the In stitute., Nearly one-third of all ac cumulated life insurance dollars are now on loan to property owners unaer mortgages. : ; -he life companies nlaved an im portant role in helping the coun try meet the accumulated housing shortages, of 1 the 1940's. In the past five years, more than S23.R0n . 000,000 of real estate rnartea have -either been initiated or pur chased by the country's life com panies and at the start of this year, they -had $25,928,000,000 on loan under mortgages. '"While endeavoring to assist in holding mortgage financing to a sound basis' in the years ahead, the life insurance comnnnlon will ' tmue to be an important source of mortgage money needed to main- tain housing up to the" needs of ' 1 ne loan u,nns are oe,nff usen 10 the country" the Institute said lestaWish new -pastures or to im "The war shortages W w,' ' Prove those already established. made up in most commi,n:ti wlSome of the Practices to develop now, but there will be a continued demand for new housing to meet the formation of new families, ob solescence of old housing and the shifts -in population concentrations. Also, the increased rate of refi nancing clue to the high frequency of family moving will be a factor in the continued demand for mort gage money. Some 30,000,000 fam- Iies move annually and manv of these are home owners who sell and reibuy in the process of chang ing residence. Big Annual Amortization With practically all mortgages now in force on an amortizing bas is, the natural reduction in the mortgage portfolio each year is sizeable, according to the Institute. Resales and refinancings also in crease the aggregate of mortgage redemptions. In 1954, the life companies reported a total of $2,- 680,000,000 of sales, amortization and redemptions in a portfolio which totaled $23,275,000,000 at the start of the year. As the portfolio increases, the total Of these funds requiring reinvestment will in crease. In addition, the life com panies put into tnis iinancmg a porfion of the new capital accumu lated for policyholders. Last year the equivalent of nearly half of the yeir's new capital funds made available by the business was add' edto the refinancing funds to meet the year's mortgage demand. The lie companies have had an excellent- experience under their mortgage portfolio. Although more than 2,500,000 individual properties are covered by these real estate loans, the aggregate amount of real estate held under foreclosure at the end of last year was less than one tenth of 1 per cent of the total amount on loan under mortgages. The-earning rate on mortgages has improved in the past two or three years, with practically half' of the improvement coming from Efcuelabe it premium quafity-PIUS Ift 90 6ood fcsneets all requirements even where !'heavy-duty3 03 k recommended by paaeenger car manofactuif en. Ift m long-lasting it tavet you money on tha quart yen don't add I ; Change wrer now for 4 deaner; more cfikknt - l.vilT wkh a longer, happier running kfc I y 1 -l i'Ai sSA. 'iM THE qWan WfcfcLtf! reduction in the costs of handling the mortgages rather than ' from improved interest rates. : While the net yield on mortgages has risen in the past few years, at the end of 1953, , the, last year for which fig ures exist, it was -still less than at the end of World War II. Soil-Yater Loans Available From FHA Establishment or improvement of permanent pastures' is prominent in the better farming plans of many Perquimans Count? farmers who improving their farming systems through Farmers Home Admini stration soil and water conservation loans, according to E. F. Morgan, the agency's county supervisor whose office is. located in Hertford A.1 1 J . 1. T fli- u...-ij. , ' good pastures, and for which soil and water conservation loan funds are being used, include seeding with recommended grasses and le gumes, proper fertilizing, and lim ing. In some areas, sodding and sub- soiling are necessary, Mr. Morgan said. Brush removal is also a practice that may be necessary on some farms. ; Another Use of the funds may be forcross-fencing, for pasture rota tion or to prevent over-grazing or damage of the pasture land not ready for grazing. Still another way in which soil and water conservation loan funds may be used in connection with pasture improvement is through development of irrigation systems. Funds may be used, when recom mended, for land leveling, well drilling, and the purchase of pumps, sprinkler systems, and oth er irrigation equipment. The Farmers Home Administra tion can make insured or direct soil and water conservation loans to individual farm owners or opera tions who are unable to obtain the necessary credit on reasonable terms 'and conditions from private or cooperative sources. Under the same conditions, the borrower may be a nonprofit organization or as sociation primarily engaged in ex tending to its members services di rectly related to soil conservation, or water development, conservation, or use, or drainage of farm land. The practices for which soil and water conservation loans are made must be in line with Soil Conser vation Service and Extension Ser vice recommendations. Trying, Anyway "Hey, you can't turn around in the middle of the block." "Oh, I think I can, officer; just give me time." Window QH Co. Trees Make Money From Poor Land Trees can make money on land that wouldn't produce any other "money crop". H. D. Godfrey of the State ASC Office is stressing the fact .that trees can make money on Jand which now produces little or noth ing. Land that isn't good enough to grow crops will not grow enough grass to deserve the name of pas- ture, can grow enough .wood each year to bring considerable income to the owner of the land, accord ing to Godfrey. . , , Godfrey cites the experience of a farmer who divided his 150-acre undeveloped woodlot into five 30 acre units. He harvests the wood on one of these units each year when there is little other work. His pulp wood thinnings from old stands for the first five years on each of the units have brought him nearly 2,000. . Each unit looks like it will bring even more at the end of the second five-year term. Not only will these woodlot plantings pay in money, but they help in the conservation of soil and water. On steep, or shallow- land, they will help slow down the flow of water off the land and lead it into the ground, thus reducing erosion. The water is available for crop production or becomes a part of the underground supply that maintains the flow of streams dur ing dry weather and furnishes wa ter for wells. It is because trees are such use ful crops in saving soil and water that their planting and growth is encouraged through the Agricul tural Conservation Program, God frey points out. In North Carolina assistance is available to farmers to make tree plantings and to care for such plantings after they are made. Complete details about that assistance can be obtained from the County ASC Office. TRY A WEEKLY CLASSIFIED i GARDEN MR. FARMER j See Us For Your Seed Peanut Shelling FOR SEED SHELVING THAT LEAVES NOTHING FOR YOU TO WORRY ABOUT ... COME TO THE NEW AND MODERN Stallings PEANUT SHELLER Nov1 Open For Business Located inthe JBfeech Spring's Section (Old Beech Springs School House) 4 Miles front Hertford t ; t and; Operated by NOAH FELTON t Who Will Give Each and Every Bag His Personal Attention. ('"-'v;;- , v.' 5 :;' :-';'::.-':-.:-w-(i-' OUR AIM IS TO GIVE YOU THE BEST POSSIBLE SEED IN THE MOST ECONOMICAL MANNER. . A TRIAL WIW SUNDAY SCHOOL ; LESSON rection, nor as living in some dis tant land singing hymns in loveless forgetfulness of those they loved on earth. I think of them as a great Cloud of witnesses looking on to see how we run the race that is set before us, grieved in our fail ures, glad in our triumphs." Here's a thought we would all j0 wen to ponder: "The world is like a vestibule before the world tc come; prepare thyself in the vestibule that thou mayest enter in to the hall." Rabbi Jacob. ' (These comments are based on copyrighted outlines produced by the Division of Christian Educa tion, National Council of the Churches of Christ, U.S.A.. and used ly permission.) CARD OF THANKS The Savin family wishes to ex press its appreciation for the kind expressions or sympathy from friends during the death of Clar ence Adams Savin. . Mary Trueblood Savin And Family. Classified -Legals FOR SALE AZALEAS; ALL VA rieties. 50c and up. Candy Tufft and camellias. See Mrs. Haywood Divers, 33 Woodland Circle, Hertford, N. C. 'Mar25,Aurill,8 BOOMING BUSINESS MAKES opening available for responsible man or woman with car to call on farm women in Perquimans County. Full or part time. Op portunity to make up to $40 a day. Write McNess Company, Dept. C, Candler Bldg., Balti more 2, Md. Aprl,8 SALESMEN WANTED WOULD you like to have a good, perma- CLUB TOOLS ARE LIGHTWEIGHT, RUGGED, HANDSOME Custom -built for home use, this great new line of tools In eludes the items you need. Come in -and see them, and check these features! FIRE-HARDENED HANDLES SMART, DURABLE FINISHES FORGED STEEL HEADS AND BLADES SPECIAL LADIES' MODELS BMBK--..I Hertford Hardware & Supply Company HERTFORD, N. C. & Felton ii hi! -i CONVINCE YOUt ' 1, 1955. nent, profitable business of your own. You can have selling Rawleigh Products. Hundreds of men are earning more than ever before, supplying families with Rawleigh's every day necessities. You can too. Good locality avail able in Perquimans County. Write Dept. NCD-320-216, Rich mond, Va. Aprl.8,15,22,29 NOTICE OF ADMINISTRATION Having qualified as Executrix of the estate of William H Hnivlctla deceased, late of Perquimans Coun ty, JNortn Carolina, this is to noti fy all persons having claims against the estate of said deceased tO exhihit thpm tn tho nnrlofcirrn- ed ,at Hertford, N. C, on or before tne nth day of March, 1956, or this notice will he nlearled in hnr nf their recovery. AU persons in dented to said estate will please make immediate payment. This'llth day of March, 1955. MRS. ELOISE N. HARDCASTLE. Executrix of Wm. K. TfarHpnatlp Marl8,25,Aprl,8,15,22 NOTICE OF ADMINISTRATION Having qualified as Administra tor of the estate of Mrs. Dora Wild er, deceased, late of Perquimans County, North Carolina, this is to notify all persons having claims against tne estate of said deceased PEANUT GROWERS let us Shell Your Seed Peanuts HAND PICKED AFTER SHELLING . . . 3" READY FOR PLANTING FREE YEAR-AROUND STORAGE Limited supply Seed Peanuts for Sale REMEMBER . ... an Experienced Opera tor can save you money. Our plant located on North Broad St reet in front of B.B.H. Motor Company. We are prepared to electrically treat all seed, which is of vital im portance to all Peanut Growers. Satterf ield & Leary Bros. EDENTON, XORTII CAROIJXA "Oldest Seed Peanut Shllerx in the Albemarle" INCREASE ACRE YIELD ANHYDROUS AMMONIA Applieci'rdirectly to the ' ' Practical and Profitable soil to save you time, and labor! r -to exhibit them to the undersigned at Star Route, Winfall, N. C, on or before the 12th day of March, ;1956, or this notice will be pleaded 1 in bar of their recovery. All per sons indebted to said estate will please make immediate payment. This 12th day of March, 1955. EDWARD B. WILDER, 1 Administrator of Mrs. Dora Wilder Marl8,25,Aprl,8,15,22 NOTICE OF ADMINISTRATION Having qualified as Administra tor of the estate of Mrs. Marie Leu Eaves, deceased, late of Perquim ans County, North Carolina, this is to notify all persons having claims against the estate of said deceased to exhibit them to the undersigned at Route 1, Box 81, Hertford, N. C, on or before the 4th day of March. 195fi, or this notice will be pleaded in bar of their recovery. All per sons indebted to said estate will please make immediate payment. This 4th (lav of March, 'tr,r. LOUIS." E. EAVES, Administrator of Mrs. Marie Lee Eaves. Murchll,18,25,Airl,S,15 North Carolina In The Pei-quimaitsVounfy Superior Court In the matter of the adoption of Jacqueline Carole A main by Louis Amato. NOTICE OF SERVICE OF PROCESS BY PUIiLICATIoN To Calvin Sawyer: Take notice that a Petition seek ECONOMICAL LONG for Spring and Fall Q Increases the Protein, content of Feeds MILTON DAIL & SON Hertford, N. C. Representative For PAGE SEVEN ing relief against you has been fil ed in the above entitled proceeding. The nature of the relief being sought is us follows: That the Petitioner, Louis Ama to, is seeking to adopt Jacqueline ., Carole Amato (formerly Jacqueline. Carole Sawyer) and said Petitioner' has asked the Court to issue an Or der declaring that said child has been abandoned by her father, Cal vin Sawyer. You are required to make de- ' fense to such pleading not 'later; than the 4th day of June, 1955, and upon your failure to do so, the Pe titioner seeking service against you will apply to the Court for the re lief sought. This 4th dav of April, 1955. W. H". PITT, Clerk Superior Court Apr8, 15,22,29 I DON'T SCRATCH THAT ITCH! In 15 minutes, von .MUST be pleas, ed with ITCH-ME-.NOT when ap plied for the itch of eczema, ring worm, athlete's foot, insect bites and other surface rashes or your 10c back at any drug store. Today at S AND M. adv. Attention! AUTOMOTIVE REPAIRMEN Come See the N-A-P-A "Parade of Parts" NATIONALLY ADVERTISED BRANDS of Parts and Supplies for CARS - TRUCKS & TRACTORS All Makes & Models Murray Motor Parts Company HKin roKi), n. c. - LASTING A: I H 'fi 1 t .1 fi ii;' w .. PHONE 3336 r ? ' Curch'Streetlfert '' ' A.. . k i. T TT