North Carolina Newspapers

—— l 11 'i * The National Outlook The Housing: Bill Veto. V By Ralph Robey r - r . r . n __ Vs I President Eisenhower’s veto housing bill caused un usual consternation in Con gress. There had been rumors that the bill might be* vetoed, but not until the message was issued could anyone outside of the executive branch be certain the proposal would be rejected. The bill was a curious hodge podge. It included about every thing in the 'way of housing that anyone could think of cov ering. Although it was head lined as a $1.3 billion measure, the President in his veto mes sage pointed out that the bill carried 'a minimum of $2.2 bil- i lion 'in spending authority, as compared with the SBIO million Administration request. “Excessive” spending was a primary reason for the veto. ■ Equally important, however, were Other provisions the Presi dent regarded as unsound and unnecessary. Units A perfect example: We al ready have over 100,000 previ ously authorized units as yet unbuilt, but the bill authorized 190,000 more. The Administra tion opposed any further author ization in this field at this time. A new program of direct fed eral lending was provided for homes for elderly persons. This, ‘the President believes, is ex'- travagant because in his judg ment, “needs in this area can be adequately met by private funds invested under the protection! .of federal insurance.” College housing loans could have been increased and a pro gram for college classrooms and other academic facilities .could Statement UNITED STATES LIFE INSEBANCE COMPANY New York, N. Y. Condition December SI, 1958 As Shown A By Statement Filed: Assets Bonds. $44,533,763.69. Stocks. $534,176.80. Mortgage Loans on Real Estate. $40,387,640.95. Real Estate, $1,555,729.57. Policy Loans. $10,459,514.76. Cash and bank deposits. $1,353,184.73. All other assets (as detailed in an nual statement), $5,851,541.24. Total admitted assets, $104,6’^,551.71. Liabilities, Surplus And Other Funds Aggregate reserve tor life policies and contracts, $76.095 678.00. Aggregate reserve- for accident and ' health policies. $2,865,330.00. Supplementary contracts without life contingencies, $2,215,696.00. Policy and contract claims, $3,810,- 909.48. 4*l Policyholders' dividend accumulation, $934,791.00. Policyholders’ dividends due and un paid. $15,358.58. Premium and annuity considera tions received in advance $87,056.50. Liability for premium deposit funds. $623,013.53. Policy and contract liabilities not Included elsewhere. $1,960,843.33. Commissions to agents due or ac crued. $162,641.80. General expenses due or accrued. Jft82,000.00. Y Taxes, licenses and fees due or ac crued, $1,396,000.00. "Cost of Collection” on premiums and annuity considerations deferred and uncollected in excess of total loading thereon, $140,269.17. Unearned Investment income, $16,- 9UL 24. •Amounts withheld or retained bv company as agent or trustee, $117.- 922.82, Amounts held for agents’ account. $57,868.86. Remittances and items not allocated. $422,700.70. Net adjustment In assets and liabili ties due to foreign exchange rates, $36,115.00. , Miscellaneous liabilities. $310,237.42: Mandatory Security Valuation Reserve, $554,778.00. I Total Liabilities (except capital). $92,505,833.43. Special surplus funds: Group In surance Contingency Reserve. $551,- 968.00.. Capital paid-up, $2,750,000.00. Unassigned surplus. $8,867,750.28. Total Capital and Surplus $12,169,- 718.28. Total. $104,675,551.71. Business In The State Os North Carolina During 1958 No. of Ordinary policies on the lives of citizens of said State In force December 31st of ‘previous year. 196. Amount. $953,979. No. of Ordinary policies on the lives of citizens of said State Issued during the year. 18;. Amount, $120.- 000. * Total Ordinary policies. 214. Total amount, $1.0734)79. 4 Deduct ceased to be In force dur the year: Ordinary. 64; amount. Polloies In force December 31st: Or dinary, 150; amount. $897,105. -No. of Group policies on the lives of citizens of Said State In force De eftnber 31st of previous year, 4. Amount. $2,202,763. No. of Group policies on the lives of citizens of said State issued during the year, none. Amount. $30,2(6) Total Group policies,’ 4>. Total amount, $2,232,963. Deduct ceased to be In force Wring the year: Group. 1; amount. $355,763 Policies <ln force December 31st: Group. 3; amount. $1,877,200, Losses and Claims unpaid December 31st of previous year Group 1; amount. $1,000.00. Losses and Claims Incurred during t year Group 4; amount. $13,202.00. Total Grovlp Losses and Claims In curred during year. 5; total amount, $14,202.00. Losses and Claims settled during the year, in full. 5. Amount. J$ 14.- - 2 °Premlum Income Ordinary. *4Crt.- 183 Group, $3,999.70; Total. $25,- ConshieTatlon for MSOOa H<MAe^f«^. y «4, William Jtreet, New fe w Attorney for .Service . IWAS. F. b pot n Com-rksloner of Insurance, SH'.***. N. C. inV-'-th Carolina Jw»r«nae do h-reb" (£rtttr'*tfc-t >V bliavo in c fn|a ftod po r 'N>ot have been started—all at inter est rate* below those which the i federal government currently pays for funds. This “subsidy interest rate” was vigorously op posed hy the Administration’s financial officers. , In the words of the veto ■message “the ’bill would tend to substitute federal spending for private investment. Many pro-| visions of the bill, instead of stimulating private investment would drive private credit from areas where it is urgently need ed.” An example was the re quirement that the Federal Na tional Mortgage Association buy mortgages at par regardless of their price in the open market, and the provision to limit the fees which the ENMA could charge when purchasing mort gages. Other objections to the bill were cited in the message, all of this same general character. In other words this was a carefully thought-out veto message and, although relatively short, It was convincing and effective. The last one-fifth of the message was devoted to restating what the Administration would like in the way of a housing biH. The Administration's Proposal Briefly this was as follows: The present limit on the insur ance authority of the FHA should be eliminated; the FHA program for the insurance of, property improvement, loans Should be extended and so Should its program for the in surance of military housing; the voluntary home mortgage credit program should be con-j tinued; authorization for urban renewal grants should be replen ished; and, the statutory inter est rate ceilings on mortgage? insured by FHA should be rais ed. Sudh a bill in the opinion of the President, would “provide more and better housing for the American people.” Whether a bill along these lines will be passed by the pres ent Congress is an open ques-. tion. Congress had seriously i tried to write a veto-proof bill, and thought it had pretty well i accomplished this objective. Nowj it mav decide that it could just j as well.go in the opposite direc-! tion, ‘knowing that the bill will be vetoed, and then make a par ty political issue out of the prob lem. The Chances are, however, that | a bill acceptable to the President j will be passed. This is essential i rs we are to realize the present 1 expectation of 1.300,000 private l housing starts this year, and we | miist have approximately that! many starts if the construction! industry is to continue to be a' TRUCK SAVINGS START WITH FORD! 'HP ECONOMY CHAMP-Ford MOO Style side Pick up— is ihe smoothest riding, too! box Most economical pickup -by 25.2%! l %i;„4 - :v ' 25.2% more miles per gallon ► JMgiJI |P' sos«b»» than average of other leading makes! B t ?■ Now! 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In a quick 5- question test, a noted psychia trist and author tells you what your chances are of being suc cessful in marriage. See this interesting test and informative article in the July 26th issue of THE AMERICAN WEEKLY Magazine in Colorgravure with THE BALTIMORE SUNDAY AMERICAN j on sale at your locaj newsdealer Minute? Os Board Os Public Works v J Edenton. N. C., June 18, 1959 Special meeting of the Board of Public Works to discuss with Mr. C. C. Tilley. President of Freeman Engineers, Inc., of High Point, North Carolina the Sew erage Disposal problems in gen eral and specifically • the proba bility pf utilizing a site for the plant just east of the Edenton Cotton Mill. Members present: Thomas By rum, Jr., chairman, Walter Wil kins, Jesse Harrell, Ralph E. Parrish; others attending were C. C. Tilley and R. N. Hines. Thomas Byrum read a letter from the family of deceased Mayor David Holton, expressing appreciation for the resolution of respect and sympathy a copy of whioh was sent to Mrs. Holton. ! Thomas Byrum, chai. »ian, ad vised the Board that P. C. Ash ley had contacted him in con nection with the sewer apd elee tric line that presently occupy an area within the abandoned, Norfolk and Southern Railroad right-of-way stating that he was , willing to give an easement cov ering the property it occup ; ed I but would not agree not to build anything over the sewer. Motion by Mr. Wilkins, sec onded by Mr. Harrell that W. S. Privott, Attorney, be directed to j draw proper right-of-way agree -1 ment covering this situation and secure Mr. Ashlev’s signature. •Unanimously carried. Thomas Byrum, chairman ask ed Mr. Tilley to give the Board a general review of the Sewer age Disposal prqblem. including his opinions and recommenda tions in connection with a site iurt. back of the Edenton Cotton Mill. ’ rr-t Mr. Tilley advised that the cost of the plant construction in cluding necessary pumping sta tions and other facilities for the various sites under consideration would be: 1 Site Nt>. 1, recommended and approved—s42B,ooo. I Site No. 2, approved—s49B,ooo. I Site No. 2A, approved—s49B,- I 000. ■ * I Site No. 3, approved—s6ol,ooo. Site No. 4 approved.-—5561,000. Site No. 5—5487,000. During the discussion of this problem it was brought out that Federal participation usually in j creased the cost of project ap proximately 1 Vi%. Mr. Tilley urged the Board to J proceed with the Bond Referen dum. getting this, matter settled iso that when a site was obtain : ed no undue delay would be ex- I pe-ienoed. j' Ralph Parrish was req"»sted !by the Board of Public Work® I to ask Town Council to Droceed with the necessary steps to bring to completion a Bond Ref- Jerendum. for Sewerage Disposal ' and Industrial Development fa cilities. j Motion by Jesse Harrell,, sec i onded by Ralph Parrish that bids for a billing machine for the de partment be advertised immedi ately. Unanimously carried. ‘Motion by Ralph Parr ; sh, sec onded by Jesse Harrell that the local baseball team be required to. pay $15.00 each time it used the ball park lights. Carried, j ■ Voting no W. M. Wilkins. I No further business the meet- 1 ing adjourned. RICHARD N. HINES. Acting Secretary Edenton. N. C., .Tune 23. 1959] The Board of Public Works met tbj s .jav j n special cession | at 8-00 P M. at the Fdon.ton Municipal Building. The follow- 1 ■ng members were nresent: T. G Bm-um. Jr , chairman, Jngso w 9Tn-“ll. W. M. Wilkins. Ralph E. ParHsh and Jimmie Rio^s. Mr. Fodcmrs and Mr. Phe'os a—(eared before th“ Board in an effort to vet Die Board to ■furn ish livht.s for th° remaining base ball vames in Fd°rvton' on a no charve basis, although at the 1 est meet in e the boa-d had ren dered decision to make a token charge of sls no per p?me for I the lights. After considerable discussion the decision wae made lto '°t nrev : ous motion stand The purpose of this special meeting was to consider, analyse, ! and pdont the budget for the vear 1059-60. After considerable discussion and some chanv°s the motion was made by Ralph Par rish and seconded by Jimmie ( Ricks that the budget be adopt ed. Motion was carriecT without j ji"'°nt. j New assessment program was , discussed and Chairman Bvrum advised the Board that he would get from the Town A‘tor- I netv necessary general statutes -of North Carolina to govern the board in further action along this line. This informat ; on to be used at a future meeting. There being no forther busi ness the board adjourned. RALPH E. PARRISH, Secretary Edenton, N. C. July 7. 1959 The Board of Public Works met this day in regular session at 8:00 P. M. Members present Thomas C. Byrum, Jr., Chairman. Jesse L. Harrell, Ralph E. Parrish, W. M. Wilkins and James P. Ricks, Jr. Minutes of the regular meet'ng !of June 2nd and special meet , ings of June 18th and June 23rd were approved as read. On motion by Jesse L. Har i rell, seconded by W. M. Wilkins | and duly carried that Electric & j Water Department bills as fol lows in the amount of $12,154.27 Ibe paid: j Motorola C.&E., Inc., $112.00; Electrical Equipment Co., $427.93; . Edenton Furniture Co.. $4.89; ' Williamston Office Supply Co., ■ $6.90; The Norfolk & Carolina Tel. & Tel. Co., $43 95; Line Ma terial Industries $7.95; Center iOhemical Co., $31.10; Internation al Salt Co., $736.00; Charleston Rubber Co., $4.55; Nor so 1 k Southern Railway Co., 80c; A. S. Smith Machine Co, $11.50; The R. S. Jordan Co., $14.40; Dewey Bros., Inc., $35.89: Graybar Elec tric Co., Inc., $lO 70: Howerton Gowen Co., Inc., $80.33: Edenton Office Supply Co. $4 95; The Chowan Hera'd, $10.00: Pos'mas ter, $101.74; Ernest J. Ward. Jr. *20.98; A d r«ss o vraph -Multi vranh Corp.. $25 25; Burroughs. Divb.- ion, s>fii 00- Tidewater Supply Co., $21.78: Edenton Ice Co., Inc., ■ $9:00; Virginia Electric & Power Co., $10,255.87; Thurston Motor Lines, Inc., $5.00; Bunch’s Ga rage, $10.50; Total, $12,154.27. Salaries paid in month ot June, $3,196.55. Received for current, water ■ ant merchandise, $20,587.11. Receipts in excess of disburse ments. $5,236.29. ■ ' On motion by Jesse L. Harrell, ! seconded by James P. Rrtkr.. Jr.. and dulv carried that $10.0Q0.00 j be transferred from ac ! count in the Peoples Bank & i Trust Co., to savings account in The Edenton Savings & Loan Association where interest on j same will accumulate at not less th=n 3% annum. | On motion bv RD-h V. ri«h, seconded b ,r W, l'*’ W,’l_ k-no and carried. Fm° s t W»r-i js . an+LnriVp-} to purchase hjlUnv machine f- ■'’•■’roughs at a net p» ~e. pf. 45 844.40 mhera heiner no former busi ness, th" n '—a d i—• RAT n H V T> ARRISH. Secretary ■Friow+rjn N\ f*. Tiii Tr 19 iocq TV.« Pnovr? r»f TJuMirt YV»n+ *’■ c rlptr C? T >/-'oiol f’o-clqri .4 O.no R/r nl’flm +V,p *cYT|rv»tr_ cr tv|or«Vtpv<i procon*. fpv. r-. C! T- r Va;, T T T-T C-M n YT r J WilVins; prH P’pVck : T " The purpose of this meeting] was to discuss and con-rder whether or not action should be taken to stop the Virginia E ec tric & Power Company from ex panding or serving electric con sumers within the citv limits of the town of Edenton; also, to consider what action, if anv, should be mken to stop the Al bemarle Electric Membership Corporation from infrinv : ng on or rights to serve elec'nc ser vice to consumers in area which we a rP prepared to serve surrounding the town of Eden ton. 1 t Ralph Parrish offered the fol -1 owing resolution and on motion by Jimmie Ricks, Jr., seconded by W. M. Wilkins, this resolution unanimously carried and was adopted. ! Resolution—Re; VEPCo Whereas the Virginia Electric ■ -i—!■—— I JflCQlllN S ¥Biki H ROTALE SJ PINT 1 1 CIUCUL fMCISItI [j IJ] MOM GRAIN - *0 PROOF [Hri 1 jJii/IJ/IR'W'll —SHARLES JAMUIR et Ci«. Inc„ Tell Us About Your I HOME IMPROVEMENT I PROBELMS! I SEE US FOR PLANS, AND EASY BUDGET TERMS! [ |||iP|§§| JUST A SMALL AMOUNT ENCLOSE YOUR PORCH to | t MONTHLY can do wonders in make it usable the year’round! bringing your kitchen up to ri|jM 1 11 be K ' ad t 0 ex P l; iin the date. No down payment ne- ease of paying for needed ma- » Come In And Investigate Our I “TIME PAYMENT PLAN” 1 NO DOWN PAYMENT- UP TO 5 YEARS TO PAY I r Power Company is the only r source of electric power suppiy -for the town of Edenton, North Carolina and the Edenton Cotton t Mills, Inc. Whereas Virginia Electric & r Power Company furnishes elec tric power within the corporate limits of Edenton North Carolina to ’W. D. Holmes Company, B. • W. Evans-Evans Veneer, and W. ; D. Townsend Lumber Company. ’ Whereas the electric power I rates of the Town of Edenton, : North Carolina compare favor- I ably with those of Virginia Elec- j 1 , trie & Power Comoany and the! [ customers in ouestion could re > eoivp the benefit of these savings if allowed to ourohase from’ the Town of Edenton. . Whereas the Town of Edenton ] stands ready to serve these eus mmers and Virginia Elec’ric & | Power Compahy would s"tfev no 'nss in s ol es as a result of Eden ton’s servicing t^em. Whereas ♦he Virginia Flect r 'C! <*• Power Cnmnanv in order to! mil or, d ‘■nrvire i to B W Evans-Fvans Veneer. , P n4 W. D. ' T T-nmbar Gompanv vdll have so m=u 0 fur. I thpr inveDment in facilities in Now, Therefore, be it resolved 1 j that the Town of Edpnton re | SDectful'v requests Virginia Elec j t’-ic & Power Gompanv to w : th-- I draw services from W. D. Holmes ; ] Company, B. W. Evans-Evans •j Verieer, and W. D. Townsend ■ Lumber Comnan” and all nroo ] ertv o'<(ned bv them w ; ’h : n the ' -nj-noratn limits of Edenton. - i NrvH'h Par-elina. e:rnip”(- '|i.Pg d'.nl ipo te faeilll : es> in t.ha • .-roa reducing hazards and con , I flioinn. •! Be it further resolved that a > j copy of this resolution be furn i j ished. Ray Goodman, vice pres ■ i ident of Virginia Electric & I I Power Company in Williamston, • j North Carolina, and others, re ; questing complying action in the I very near future. -1 Ralph Parrisn was authorized i ! and requested by Chairman By l j rum to contact the Robbins Mo i tel, RFD, Edenton, to determine ) why they are being served elec tricitf by the Albemarle Mem bership Corporation rather than : by the Town of Edenton. even S M.G. BROWN CO. * \ Lumber • ■ mill work ] 7 Jflf BU/LOLNG *ns7 7 t -r’t / 9 / 1/ “ / j «frwz—i—n ■■ f though the Town of Edenton’s; V ! electric service was nearer them; I |and the Town of Edenton was i 1 ready and willing to connect the j ■ service. 1 On motion of W. M. Wilkins, - 1 seconded by Jesse L. Harrell, ~ and carried, Chairman Thomas \ 1 j Byrum was authorized and re- I •! quested to write letter to the I •I Virginia Electric & Power Com-1 • 'pany protesting the recent long] r ! power outages and requesting , | that the Virginia Electric & I - j Power Company take steps to j • | give the Town of Edenton al- 1 :! ternate service from another di- j -! rection in an effort to elimi- 1 i i nate these long power outages s in the future. See letter dated. July 9. 1959, written by the Pub -1 ■■■■■■raraß ; THE FIRST ROOM : A\ R. CON bmONER THAT THINKS! y New Chrysler Royal Slender' • Automatically, constantly balances Vvl-v; 1 \ temperature and humidity! 4 • Wrings out sticky moisture ordinary ] ; air conditioners miss! •»■»*•«*. ( Jg • Brings you Spring freshness... all l|i ' summer long! (\ " 1 Complete with super-silent night cool- t ! ing control, vent and exhaust fan, dual A filters. Up to 10,000 BTU capacity. Also available in new High Power and Built-In models.- hi in naui 1 This summer, relax refreshed in o%'i a CUMATE BY chry 5LER f r ► HRYSLER V f .. A I R T E M R. See it today... enjoy perfect comfort tomorrow! | Edenton Ice Co. j Phone 2223 Edenton PAGE SEVEN —SECTION CNti I lie Utilities Commission of Eliz ; abeth City to Ray G. vice president. Southern Divis j ion, Virginia Electric & Power ■Company. On motion by Jesse Harrell, seconded by Jimmie Ricks, Jr., | and carried, the Town Council is j requested to approve our ptir j chase from the Peoples Bank & |Truot Company, Edenton, North 1 Carolina, 180 day $30,000 certifi cate of deposit bearing interest lat the rate of 3% per annum, ] and 30 day $20,000 certificate of | deposit bearing interest at the I rate of 2M>‘% peg annum, j There being no further busi ness the Board adjourned. RALPH E. PARRISH, Secretary