Newspapers / The Franklin Times (Louisburg, … / June 2, 1944, edition 1 / Page 2
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AVOID FOREIGN INVESTMENTS Babson Says Outright Re lief 0. K. But Beware Capital Requests By Roger W. Babson Babson Park, Mass., June 2. ? With Lend-Lease commitments approaching in value $25,000, 000,000, it would seem that our nnanciai uuunius of' our Allies in terms of war materials, food and probably in an undisclosed amount of gold is nearing a maximum. Re verso Lend lease will pro vide a small credit against the final sum. The export of armaments may BABSON aecnne trora nere on; Dut snip ments of food, clothiDg, building materials and other Items for civilian rehabilitation will in- 1 crease as more territory comes nnder Allied Government. Already plans are being form-! nlated for the disposition abroad, after the War, of surplus U. S. motor equipment. Similar plans ?will be devised for the gift or sale of other war equipment adapted to civilian use. As in the case of France after World War I, nations allied with the U. S. A. In World War II, as well as the smaller countries first to feel Hitler's blows, will profit greatly from our Government's generos ity. EXTENT OP FOREIGN RELIEF I believe we are safe in as suming that U. S. Foreign Relief after the War in terms of adap table or reconverted war mater ials, In food, clothing, Red' Cross Aid and Government grants, in cash plus loans and credits will reach additional astronomical bil lions. It may total as much as Lend-Lease does today. Further more, as the U. S. will perhaps be the only Allied Nation un touched by the physical damage and misery of the War, we will rightly be expected to bear the major part of the over-seas post war repair bill. The first stage of relief will be the feeding and sheltering of the homeless and starving people of Continental Europe. Both pres ent friends and foes may be in cluded in this group. This, how ever, Is quite different from mak ing capital investments abroad. Perhaps some years after the War, when the necessities of re building the entire world's eco nomic structure become more clearly defined, U. S. investors may have a part to play. How ever, In the immediate postwar period our help should constitute outright gifts or sales of mater ials at cost. The investment of capital should for the present be avoided. WHAT ABOUT FOREIGN CAPITAL INVESTMENT? In the course of a lifetime of supervising investing. I have, at one time or another, seen my clients own all kinds of foreign f? ? I I '{ Securities. These have consisted principally of governments, rau | nicipals and utility bonds. I | bave also seen them own foreign 'railroad and raining stocks. They j have ranged far afleld to Ger many, Russia, Japan, Mexico, and the Latin-American countries. As I look back over these experien I ces, I doubt if they ever netted a dime out of their foreign hold ings. Hence, I have concluded it is far better to have readers' funds invested in this country where at least the investor can visit the physical properties and get acquainted with the manage ment and ? in case of trouble ? have the benefit of U. S. Courts. Air transportation, the acquain tance of millions of service men and women with foreign customs and places, inter-marriages and the handing out of millions of U. S. consumer products will tend to break down the barriers of race, language and religion. But for many years I am afraid that Uncle Sam may be looked' upon as a Santa Claus or as a senile old man who foolishly risks his money abroad but who will be too proud or too feeble to insist upon an adequate return for his support. ' SOME SUUtiKSTKU STKra Our Government and our peo ple should not become hipped oh the idea that we should become the outstanding leaders in world' affairs. Destiny has called us to play a decisive part in World War II, but we should not con sider it as a permanent job. Washington has had a lot ot New Deal experience with out and-out relief; but Washington knows nothing about the invest ment of capital. Such foreign in vestments should now be resisted as we would' resist the plague. It further is entirely possible that after 1949 we may have some years of severe depression which will require all of oui* re sources to overcome. As Congress is now fast draining our own in dustries of working capital, they will soon require all of our ac cumulated savings. U. 8. unem ployment and the fulfillment of | civilian requirements will also require vast amounts of money. , Hence, I trust that a little Yan j kee common sense may prevail 'and that we may not entirely ex pend our heritage! One thing more: EXAMPLE IS MUCH MORE POTENT THAN PRE CEPT. IN THE LONG RUN WE CAN DO THE WORLD THE MOST GOOD BY PUTTING OUR OWN ACCOUNTS IN ORDER. I THIS WILL NOT BE A SELFI ?H I THING FOR US TO DO, BUT IT WILL BE FOR THE GOOD OF THE ENTIRE WORLD TO SEE ONE NATION RUN HONESTLY. I INTELLIGENTLY AND EFFIC IENTLY WITH JUSTICE FOR ALL AND FAVORITISM TO NONE. ? . clifd's taxa ft v* your child should ? v)fn -75= BLACK-"? DRAUGHT Caution, Dm Only as DIractad Don't Gamble With Your Car In Times Like This ! BRING IT IN, AND WE WILL TELL YOU WHAT IT NEEDS. "Care Saves Wear" i BRING US YOUR TIRE CERTIFICATES. If we don't have the tire you want we'll get it promptly. We carry a nice selection of tires. ATTENTION! We are now BUYING and SELLING Used Cars. WE GUARANTEE TO SATISFY IN EITHER CASE. SEE US FIRST. REMEMBER WE'RE SMALL ENOUGH TO NEED YOU AND LARGE ENOUGH TO SERVE YOU. "Come If You Can, Call If You Can't" Fuller's ESSO Service. O. P. A. Inspection Station No. 1 Tit if- Port Office . Tel. 887-1 Loulsborg. If. O. State College's Diesel Engineering Building Raleigh, May 30. ? The modern Diesel Engineering Building at State College (shown above) was dedicated Friday. Principal speakers will be Governor Broughton and Rear Admiral E. L. Coch rane, chief of the Bureau of Ships of thei Navy Department in Washington. The $175,000 structure houses Diesel engines, representing a range from the smallest to the largest installa tions in Naval vessels. Navy officers are trained in the School for the operation of Diesel-pow ered craft. XT. COL. VEASEY GIVEN NEW POST AT FORT BEXXING, GA. Ft. Bennlng, Ga. ? Lt. Col. Alexander H. Veazey, post food supervisor, was appointed Chief of the Special Services Branch at Fort Benning effective May 19. Brigadier General William H. Hobson, post commander announ ced Monday. Col. Veazey has been acting chief of the branch since the departure of Lt. Col. Charles C. Finnegan several weeks ago for an overseas assign ment. Col. Veazey was called to ac tive duty in February 1941 as a major in the officers Reserve Corps. He has served in the First World War as an enlisted man. Col. Veazey was overseas for 11 months. He served with the 81st Division at St. Die. Just before the outfit moved out for the St. Mihiel offensive, he was sent to Officer Candidate School at Laval borne, France. However, the Armistice of November 11, 1918, came before his class com pleted the course, and its mem bers were thereupon assigned to other units sans commissions. However, in 1922 he was ap pointed a second lieutenant with the reserves. Upon being called to active duty during the current emer gency, Col. Veazey was assigned to the Second Armored Division and served with that unit until February 1, 1942, when he was appointed post theater and1 recre ation officer. He was then relieved of this assignment and sent to Command and General Staff School at Fort Leavesworth, Kan., of - which he is a graduate. The Colonel is a native of i Creedmoor, N. C. He received his college education at North Carolina State College, receiving the bachelor of science degree with honors in 1922. He is also a graduate of the Knap-of-Reeds | high school of Creedmoor. His i bome is in Raleigh, N. C. Colonel Veazey is president of the Fort Benning Children's School Board; president of the Army Service Forces Athletic Council at Fort Benning and president of the Post Candidate Board which recommends enlisted men for various officer candidate schools of the several branches and arms of the Army. Colonel Veazey is married and has two children. His family is with him at Benning. Col. Veazey is the son-in-law of Dr. and Mrs. S. P. Burt, of Louisburg. / Thirty percent more potash has been allocated for agricultural use for the ten months, June 1944 through March 1945, as compared with the same period last year. Combine schools are now being held in the Piedmont section of North Carolina under the direc tion of Joe Blickle, Extension en gineer. I BE SAFE! I INSURE YOUR TOBACCO CROP AGAINST HAIL WIND Rates Reduced to $4.00 per hundred, (uiiiiit per acre $300.00., When you insure with us you can be certain of prompt and "sufficient" adjustments. Our ex perience in handling losses pays you an extra dividend. FORD and WILLIAMSON Ford and Williamson Building NASH STREET LOUISBURG, N. G. The base support price on soy beans is $2.04 per bushel for green and yellow beans and $1.84 (or brown, black, and mixed soy beans. Pxemlums and discounts are about the same as last year. Moisture content, 14 per cent. ' The WPB announces that pro duction of large combines and various types of labor-saving hay ing equipment is running behind schedule. Farmers are urged to share equipment and to swap la bor in harvesting. 60 PLACES IN PRINT! Beruffled Casuals ! Perfect for your busy Spring days ! Beruffled print casuals you'll wear 'round the clock ? prize for their young, fresh look. See the entire col lection. Print and Plain News ! Marvelously flattering ? the print 'n' plain dress! Suavely draped print bodice ? slim skirt ? smart through Spring ! STERLING STORE CO. "Franklinton's Shopping Center" Franklinton, N. C. BAD LUCK IT'S NOT ONLY BAD LUCK BUT BAD BUSINESS TO BE INADE QUATELY INSURED. MAY WE CHECK WITH YOU? THERE IS NO SUBSTITUTE FOR FIRE - HAIL - or - WINDSTORM INSURANCE. Call - Write - Phone INSURANCE DEPARTMENT CITIZENS BANK U TRUST COMPANY B. 0. Wells, Manager Phone 199 Henderson, N. 0. ? ' Miss Amy Vick - Jas. H Hight
The Franklin Times (Louisburg, N.C.)
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June 2, 1944, edition 1
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