Definite Upturn Is Shown In Banking Situation
SHARP DROP IN
: BANK FAILURES,
REPORTS SHOW
--
^Cfedit Is Given To Re
construction Finance
H Corporation And Glass
- Steagall Ta-w.
A definite improvement in the na
tion’s banking situation was seen by
the ..Federal Reserve board and was at
|iribuped to.action taken by congress
i to* kxpand .credit-.
The board ascribed an upward trend
to the law creating the Reconstruc
tion Finance corporation, the organi
zation of the corporation’s work, and
the enactment of the Glass-Steagall
bill to increase the powers of the Fed
eral Reserve system.
v The-aboard reported that bank sus
pensions in February numbered 115
and in January and February number
ed 457. Those that failed in February
had deposits of $60,047,000, while
those that closed in the two months
had deposits of $285,521,000. In Feb
ruary 32 banks with deposits of $11,
83 5,000 reopened, while in the two
months 51 banks with deposits of
$22,787,000 reopened.
president noover at ms regular rn
day press conference announced that
a total of $234,981,714'had been lent
by the Reconstruction corporation.
Of this amount 587 banks and trust
companies received $126,895,073, or
an average of $216,162.
The second largest amount went to
the secretary of agriculture for agri
cultural loans. A total of $50,000,000
was turned over to him promptly af
ter the corporation was organized. .
Thirteen railroads have received
$46,975,557 or an average of $3,613,
514 each.
Building and loan associations total
ing 10 received $2,917,000 or an av
erage of $J62,055.
Thirteen insurance companies re
ceived $5,765,000, or an average of
$443,461.
Loans totaling $775,000 have been
made to two joint stock land banks,
and $1,362,000 has been lent to three
mortgage loan companies. *
One livestock credit association was
lent $292,084.
The banks and trust companies re
ceiving the loans are in 4$ states.
"The great majority of these loans
are to smaller communities,” the pres
ident said. "Less than $3,500,000 -has
been authorized in cities of more than
1,000,000,000 population; more than
$116,000,000 has been authorized in
towns of less than 600,000 popula
tion.”
"Sky Devils” Feature
At Capitol Theatre
Monday and Tuesday
"Sky Devils”, the Howard Hughes
production which plays Monday and
Tuesday at the Capitol theatre, is eas
ily the laugh-sensation of the year.
More than that, it is the most spec
tacular production seen hereabouts in
many months—its amazing air scenes
unmatched since "Hell’s Angels.”
Here is a sure-cure for the hard
times blues. No matter how depress
ed you might be, this slam-bang com
edy of the air will lift you to roaring
heights.
It amuses, it thrills, and at times
it moves you with its down-to-earth
and light-hearted romance. If ever a
picture had everything—this is it.
Literally and figuratively, "the sky
was the limit” when Howard Hughes
produced this one.
The same quality or rare comedy
found in his "Two Arabian Knights”
is contained in "Sky Devils”—and the
air-thrills are as awe-inspiring as those
in "Hell’s Angels.”
"Sky Devils” is the' amusing and
impertinent tale of three dare-devil
American flyers, who violate every
rule of war for a good time. Spills,
thrills, court-martials, and Richthof
en’s flying circus—all are just part of
the day’s work in the lives of these
carefree clowns of the air.
The "Sky Devils” are Spencer
Tracy, William Boyd and George
Cooper, and each gives an outstand
ing comedy characterization. Their
reckless exploits are embellished with
romance, some spicy and some senti
mental, and this is all ably furnished
by Ann Dvorak and Yola D’Avril.
Edward Sutherland, ace of comedy
directors, was responsible for the di
rection of "Sky Devils,” and it is in
dubitably his finest directorial tri
umph.
Ambassador Dawes returning to his
London post AFTER the London con
ference had settled the debt question.
Say, "I Saw It in The Watchman. Thank You!
HEADACHES, NEURITIS
NEURALGIA, COLDS . . .
Whenever you have some
nagging ache or pain, take
some tablets of Bayer Aspirin.
Relief is immediate I
There’s scarcely ever an ache
or pain that Bayer Aspirin
won’t relieve—and never a
time when you can’t take it.
The tablets with the Bayer
cross are always safe. They
don’t depress the heart, or
otherwise harm you. Use them
just as often as they can spare
you any pain or discomfort.
Just be sure to buy the genuine.
Examine the package. Beware
of imitations.
Aspirin is the trade-mark of
Bayer manufacture of mono
aceticacidester of salicylicacid.
I FURNITURE AND RUGS I
IICTION SALE!
II RAISING CASH TO SATISFY CREDITORS’ DEMANDS—THAT’S ||
■ WHY WE ARE SACRIFICING TODAY AND TOMORROW AT 3 P. H
H M. AND 8 P.M. I
|| CARLOADS OF BEAUTIFUL BEDROOM, LIVING ROOM and DIN- ||
I ING ROOM SUITES, RUGS, STOVES, MATTRESSES, LAMPS, Beds, H
I SPRINGS, FURNISHINGS ALL BEING SOLD FOR CASH AT H
I Public I
I Auction! I
|| 2 SALES EVERY DAY 3 P. M. AND 8 P. M. Come, get your share/ Si
I YADKIN I
I FURNITURE CO. I
|| 128 North Main St. (Next to Wachovia Bank) jj
|l SALISBURY, N. C. H
HIGHWAY CHIEF
POINTS TO GOOD
ROADS AS BASIS
Modern Highways Of
State Provide Quick
Sales Of Products, He
Points Out; Urges Land
Buying.
The promise that North Carolina
always will provide an outlet to the
markets for farm products was voiced
by E. B. Jeffress, chairman of the
state highway commission.
The statement, coming as-, it does
from the man charged with the duty
of maintaining North Carolina’s vast
highway system, brings reassurance of
the farmers of the state, many of
whom have become apprehensive, dur
ing the present depression, about the
marketability of their crops.
"The farmer' who will grow the
proper crops and who will make con
tact with the proper markets,” Mr.
Jeffress said, "has the assurance of the
state of North Carolina that he al
ways will have the best highway fa
cilities to -aid him in quickly and con
veniently placing his products on the
markets.
"It makes no difference whether
the farmer wants to sell his products
10 miles or 500 miles from his home,
he knows he can reach the markets
over good roads.”
Mr. Jeffress said the present state
highway system is particularly advan
tageous to the farmer who grows truck
products, fresh vegetables, fruits, and
other parishable produce.
"Farm lands are cheap, cheaper than
they have been in a generation,” said
Mr. Jeffress. "Under improved meth
ods and with modern facilities they
can be made to provide a good living
and a fair income. My advice to the
person who has an inclination towards
rural life, and who has a little cash
and who is looking around for an ad
vantageous way to use it, is to buy a
farm, grow what he needs to eat, and
be assured a measure of economic in
dependence now and in the future.
"We have $400,000,000 worth of
city streets, and county and state
roads for the citizens of North Caro
lina to use. Used intelligently they will
bring happiness to our citizens and aid
immeasurably in bringing an end to
the present deflation.
"What is more, we always will have
these road facilities and even better
ones. And, as another promise to land
owners, -the maintenance of our pres
ent roads and the building of new
ones will bring no burden of taxation
on real estate. Future construction and
maintenance will be cared for out of
the state gasoline tax.”
TFIE POTT’S NIGHTMARE
A Chicago actress came into a law
yer’s office and said, "I want a di
vorce.”
"Certainly,” said the lawyer. "For
a nominal fee I will institute proceed
ings.”
“What is the nominal fee?”
“Five hundred dollars,” he replied.
"Nothing doing,” retorted the lady,
"I can have him shot for ten.”
Heat with coke . . . the clean, efficient fuel. j
DECIDE
- -r —»' £
FOR
YOURSELF
GET THE FACTS! COM
PARE YOUR FINDINGS!
CHOOSE THE ELECTRIC
REFRIGERATION THAT
IN YOUR OPINION, IS
BEST.
There are many good refrig
erators on the market—any
one of which would be a great j
help to you in the manage
ment of your home.
Quite naturally, we believe \
Kelvinator represents the \
very finest in electric refrig
eration, and we welcome the
opportunity of showing you
why.
.
BEFORE you buy any type of refrigeration—electric or otherwise—
investigate
KEL IN TOR
learn about its many features—its efficiency in the preservation of
foods! Its trouble-free performance and its economy of operation. This \
information may be secured by visiting our show rooms, or if you pre
fer, just call 1900 and full details will be cheerfully given.
Get the Facts—Then DECIDE!
SOUTHERN PUBLIC UTILITIES COMPANY
and
NORTH CAROLINA PUBLIC SERVICE COMPANY
PHONE 1900
Bide the street cars and avoid the parking nuisance.