Newspapers / Daily Herald (Roanoke Rapids, … / April 25, 1946, edition 1 / Page 13
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y THE ROANOKE RAPIDS DIAL R-326 ALL DEPTs! THURSDAY, APRIL 25th, 1946, * SECTION B—PAGE 1 — - " ' ■ i — Questions and Answers On Loan Guarantees for Yets (This is the third of a series of questions and answers on loan guarantees for veterans of Worrld War II under the •t Servicemen’s Readjustment Act . of 19W 1. If both a husband and wife are veterans may they acquire property jointly and so increase the amount which may be gua ranteed ? Yes, however, thet maximum guaranty may not exceed 50 per cent of the loan, evcept as shown in Question No. 7. ^ 2. May a veteran pay off a loan that has been guiranteed before it becomes due? Yes, and without penalty. 3. Can a guaranty be obtained if tne proceeds are to be used by a minor or a person under legal disability? Yes. This can be done if the loan and liens are valid under the State Law governing the trans action. ^ 4. May widows or children of deceased veterans obtain guaranty of o Iho? No. The privilege is limited to veterans. A guaranty on a loan may continue, however, after the veteran's death. 5. Are veterans of World War 1 eligible for benefits under the Act? No. Its benefits are for World War II veterans only. M 6. I fa loan is for farming purposes must the veteran live on the farm ? No, but the Act requires that he actually conduct .-the farming operations. 7. Is there any limit on the size of a loan? No. The limit is on the amount which may be guaranteed or in sured. 8. May funds from a guaranteed loan be used to pay operating ex penses o na farm? Yes. Under the Act as amended such loans may be guaranteed or insured. 9. Must a veteran put Any of his money into a business, a home, \ or a farm in order to get the guaranty? No. This is not a requirement for guaranty orinsurance. It is a question which is settled with the lender. The only bearing it has on the guaranty or insurance of a loan is that in the case of a farm or a business it may affect {he likelihood of the veteran’s success in the venture. 10. May a loan to buy an auto mobile or a truck be guaranteed or insured? Yes, but only if the automobile or truck is necessary to the con duct of the veteran’s own business or farming operations, or the con " ditions of his employment require that he have such vehicle for use in his work. 11. Hoy may a veteran find a lender? By inquiring in the community in which he lives as to the lend ers in his area who make the type of loan he wishes to obtain. Infor mation as to who makes agricul turla loans may usually be obtain ed from the County Agricultural ' Extension Agent and as to who' makes farm, business and home loans from the Chamber of Com merce, or by inquiring at banks, savings and loan associations, mortgage companies and insurance or other private or public lending agencies. 12. If one lender rejects a vet eran's application for a loan what should the veteran do? He should see another lender. The fact that one lender is not interested does not indicate that another may not be. One lender may not wish to make the type of loan the veteran wants. 13. May a loan be extended? Yes. Provided the veteran and lander want to extend it and the extension provides for complete payment within the period for which the loan could have been made originally. 14. What effect does the guaran ty of a loan for a veteran before the amendment to the Act became law have on his right of guaranty on other loans? Any amount of guaranty which was used is deducted from the amount to which the veteran is entitled under the Act aa amend ed. The remainder, if any, is available for use in connection with ether loans. Farmers Income Higher In 1945 Money that North Carolina larmers received from sale of their 1945 pioducts totaled $637,848,000, the Federal-State Crop Reporting Service in the State Agriculture Department finds. This is an in crease of five per cent over the $609,312,000 received during 1944. Receipts from the sale of live stock, and livestock products re turned to farmers $99,884,000 or almost the same as in 1944. The increase in total receipts to Tar lleel farmers was brought about by the advance in crop sales, 964.000 compared to $509,565,000 the which last year brought in $537, previous year. Of the total crop sales in North Carolina, tobacco alone returned $378,897.000—74 per cent of the value of crops sold or 59 per cent of the farm income from mark etings of all kinds. While the cash income from tobacco in creased by $61,000,000 last year, the receipts from cotton and cot tonseed sales decreased $32,427, 000 to a total of $51,695,000. Peanuts are the State’s third most important cash crop with $23,256,000 being received from this crop last year. Truck crops and Irish potatoes are next in im portance. According to Russell P. Handy, agriculture statistician with the de partment total cash receipts from farm marketings in the United States during 1945 total $20,709, 939.000 which was only two per cent more than in 1944. “Noith Carolina continues to rank third in the nation in farm income from crop sales,” said Handy. It is exceeded only by California and Texas. For total farm income, however, North Ca rolina ranks 13th. Many states outrank it in income from live stock and livestock products. CpI. H. Walker Is Now In Germany Furstenfeldbruck, Germany—Cp.l Heenry E. Walker, son of Mrs. Lena Walker, Littleton, N. C., has arrived at the Euopean Theater Army Air Forces Reinforcement Depot and will soon be assigned t a permanent station somewhere in Germany. While he is at thi3 post, situated near Munich on the picturesque wooded slope of a German Alpine range, Cpl. Walker will have an opportunity to en joy the scenic beauties of South ern Bavarta which made the re gion popular among pre-war tour ists. Formerly a prominent Luftwaffe training school, the Army Air Forces Reinforcement Depot is one of the most attractive fields in Europe. At the present time several thousand soldiers each month are processed and given orientation in their occupational duties at this key station. Before entering the service in June, 1944, he attended Littleton Hi£h School. Among the first of the new rain coats is this smart, wrap-around Elasti-Glass creation. Complete with-matching rain scarf and wide belt this ensemble gives complete wet-weather protection. Seams are stitched and hermetically sealed. The colors are sea-gvcen and crystal. I J ' District Meeting Held On April 15 The District Meeting of Vocat ional Home Economics Tea.chers of Northamption, Halifa, Bertie and Hertford Counties met in Rich Square Home Economics De partment on April 15. The meeting was called to order by the acting president, Miss Camille Clark, after which business followed. The meeting decided to have a social meeting in May at Colerain.. The program “Adult Classes” was very interestingly carried out by the program Chairman. The meeting adjourned to met one month hence. PHILLIES EAGLES TO FLY Philadelphia Eagles of the National Football League are the first team to sign up for point to point air transportation on their 1946 schedule. __ ihVopousrhv PepsirCola Company, Long Island Cily, N. Y Franchised Bottler: Pepsi-Cola Bottling Co., of Littleton, N.C. FOR TOMORROW'S HARVEST It’s planting time again! That glorious season of the year when Nature smiles her fondest and the presence of Spring foretells the coming of the growing period. Generally, we don’t have to wait for a cer tain “season” to do our planting on the Sea board. But in recent years crucial shortages of materials and manpower have compelled us to postpone the fulfillment of our plans. Today we are finding it possible to get more seed, in the form of new cars, new locomotives and other new facilities and equipment, all of which we are “planting” as rapidly as possible. From them will come a finer and better trans portation service... and that improved trans portation service will give impetus to the con tinued economic growth of the Southeast. That growth is a matter of deep interest to us and, as always, our best efforts will be con tributed gladly to its nourishment.
Daily Herald (Roanoke Rapids, N.C.)
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April 25, 1946, edition 1
13
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