page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
Click "Submit" to request a review of this page.
0 / 75
The Oldest Newspaper Published In North Carolina
The Carolina Watchman
"The Watchman Carries a Summary of ^All The Hews"
FOUNDED 1832—101ST YEAR SALISBURY, FRIDAY MORNING, AUGUST S VOL. 28 NO. 1 Price 2 CENTS
" "-;-—, c»t»wv>» :- - —=~
Federal Reserve Ready For Industrial Loams
RAILROADS ASKEDTO PROVIDE JOBS
To Put Many
PRESIDENT HOOVER HAS RE
QUESTED THAT FULL MAIN
TENANCE AND REPAIR
FORCES OF THE NATION’S
RAILROADS BE EMPLOYED
Backed By I. C. C.
RAILROADS RETURN TO PROS
PERITY WILL BOOST OTHER
CHANNELS OF BUSINESS, IT
IS BELIEVED; MAY MEAN
MORE EMPLOYMENT IN
The Southern Railway, along with
the other railroads of the nation, has
been requested by the Reconstruction
Finance Corporation, to further as
sist in stimulating business by re
suming full maintenance and repair
work, according toi information
reaching local officials.
The Southern shops, located in this
county, during the past few weeks
have been adding men frcm time to
time. Some of the men added are
those who have been layed off local
ly for some months while others
have been brought here from other
This same request, it is understood,
has been made of all the lead ng
railroads of the country.
President Hoover made mainten
ance and repair work . on i ailroads
one of nine points in his recent pro
gram for enlivening business. The
president took the attitude that the
purchase of material! and the
money paid to the workmen would
go a long way toward causing busi
ness to pick up.
Nothing definite has been done
up to the present. The railroads can
not borrow money from any source
without the consent of the Inter
state Commerce commission. The
commissioners present today form
the division that "investigates and
The Pennsylvania railroad recent
ly obtained a loan of $27,500,000
from the corporation to continue the
work of electrifying its line! between
Washington and New York. The
Baltimore and Ohio has received
$32,500,000 in loans to pay maturing
obligations and $2,500,000 for its
subsidiary, the Alton.
Conferences between directors of
the R. F. C. are being held weekly in
Washington ;n the hope of further
restoring normalcy in this country.
The railroad employment move is
backed by the interstate commerce
11 PRISIONERS FREED
Paroles to 11 state prisoners were
granted by Governor Max Gardner,
including Jodie Whitley sent up
from Pitt county in 1930 to serve 10
to 15 years for manslaughter.
Back In The Ring
Miriam A. "Ma hergusou ot
Texas is back in the political ring
again, leading all six opponents for
the Democratic gubernatorial nomi
nation. This is her third attempt
since defeated for renomination in
1926; and again in 1928.
Agnes—Weren’t you embarrassed
when young Doctor Jones asked you
for your hand?
Amy—Indeed’ I was. I didn’t
know whether he wanted to take me
or my pulse.
He smiled a smile of cheer.
’Twas plain his heart was gay
And happiness was his
As now he went his way
Among the gloomy throng
That plodded up and down
The dingy, gloomy street
That crossed a gloomy town.
No other smile was seen.
Not one but scowled and frowned
Or wore a mien of woe
And made a mournful sound.
Depression bent their backs;
They had financial blues;
Their thoughts were on the jobs
Once had, or feared to lose.
And still he smiled, this gent,
Or so it seemed, at least,
And people stopped to stare
And give their eyes a feast.
And why do you suppose
He smiled in tines Uk rlicw? ■
He didn’t smile at all!
His face was drawn to sneeze.
WE’LL SELL HIM OURS
Husband—I’ve brought you this
beautiful String of pearls for your
Wife—But you knew I wanted a
Husband—I know, dearest, but I’ve
tried everywhere and can’t get an imi
From the Pearl Harbor Weekly
"What were you and Alice talking
about all evening?”
"Oh, about the weather.”
"Whether she would or whether
SO THAT WAS SETTLED
Thus sang the lovelorn youth—
"You’re just the girl for me!”
Snapped she—"A headache’s all
You’d ever be to me!”
ITS A HARD LIFE
"You look sore at the world today
What’s the matter?” asked Smither.-.
"Ah,’’ growled Withers- "I had a
blowout going home last night and
then' got blown up for being late
after I got there!”
A FAMILY MAN
To be a goat
I wouldn’t care a dam—
And yet, alack,
A goat’s what I am.—B. B.
THIS MAY INTEREST SOME
A scientist says carrots writhe in
pain when they are cut up!
So do a lotta husbands when they
are forced to eat the sufferin’ things.
JUSTICE FOR HUBBIES
Heck! We don’t believe even the
hardest-hearted wife would want to
see a husband get all she thinks her
hub has coming to him.
A lot of people think it can’t be a
good time unless it boosts the sale
of aspirin tablets next day.
A pessimist often is the optimist
who thought he’d save money by
buying a used car.
Just to show how unpopular 1931
was we haven’t heard of a single
person! since January 1 forgetting to
write it 1932!
Scenes Of Bonus Riot At Washington
—————————I■ ■ ■'W'i
No. 1. United States troops swiriging into action to clear Washington of Bonus rioters when the District of
Columbia authorities confessed defeat and the rituat.on out of control. The detachments of cavalry and
tanks shown marching up Pennsylvania Avenue, were in support of infantry and machine gun crews which
staged the tear-gas offensive on the bonus camps. . . . No. 2. Scene in one of the Pennsylvania Avenue
Bonus Camp4 when the battle with the District pol ce was at its height. In the rioting 2 were killed and 44
injured, four of them seriously, many of them police, . . . No. 3. General Douglas MacArthur, Chief of
Staff of the U. S. Army, who was in personal charge of the Federal troops in both the afternoon and even
ing offensives. No. 4. Here was a battle over an American flag between Bonuf Veterans and Washington
police and in which one of the police shown in the picture was seriously injured. No. 5. U. S. Infantrymen
with drawn bayonets and in gas masks clearing the Pen nsylvania Bonus Camps, then set fire and burned the
huts. After mopp ng up and clearing these camps, the troops advanced in an evening attack on Camp Marks
on the Anacostia River to which 7,000 BonuJ seekers had retreated. The tear-gas offensive was resumed,
the veterans driven out and all structures destroyed and burned. These scenes mark the most extensive use of
troops in the National Capitol since the Civil War.In the foreground of picture No. 5, note the cam
erman within the rioting zorie . . gathering these pic tures for the reader’s perusal. Three cameramen were
> .- 1
TOLL COLLECTOR DROWNS
The body of T. O. Cooper, 39,
Cape Fear bridge collector at Wil
mington, was found i:n Northeast
riper, 10 mile.) from Wijlmingtor/.
Cooper had gone on a fishing trip,
and alarm was given when he failed
FOGLEMAN IS RETURNED
Clay Fogleman, wanted for two
murders near Leaksville and caught
after shooting an officer in Cincin
nati, was returned to the state last
week and is held at Greensboro pen
ding trial in Rockingham county in
the term of court opening August 8.
REIDSVILLE HAS $100,000 FIRE
Fire destroyed three large tobacco
sheds at Reidsville belonging to J.
H. Burton and Co., Inc., the damage
being estimated over $100,000.
TAR HEEL WINS FREEDOM
Garland Smith, Catawba county,
after once facing a death ^Sentence
and one for 20-years imprisonment,
finally won to complete freedom
when Governor Pollard, of Virginia,
pardoned him from the prison sen
tence following recent acquittal at
Danville on the first degree charge
of murdering two Virginia officers.
4-H PRESIDENT CHOSEN
Larry McLendon, of Duplin coun
tv, was chosen president of the 4-H
clubs in North Carolina in the final
session of the annual short course at
State college. Iredell county won
over Pasquotank in the singing con
test anVl Gladys Vestal, Alamance,
won the cotton dre ) revue and will
7TH R. F. C. DIRECTOR NAMED
President Hoover has appointed
Charles A. Miller, Republican, bank
er of Utica, N. Y., as die seventh
member of the directing board of
the Reconstruction Finance corpor
HOOVER’S EASTERN LEADERS
President Hoover has picked Fe
lix Herbert, R'node Island senator,
as his campaign manager in 12 east
ern stated, and Jeremiah Milbank.
New York banker, as campaign fund
director in that territory.
. LIGHTNING KILLS GOAT
Lightning struck a building near
where little Zella Jarvis was feeding
a goat, near Roaring River, N. C.
A chain fastened to the goat and at
tached to the house caused the goat’s
death, while the child was unharm
TWINS THREE DAYS APART
Twins were born to Mrs. Harold
E. Brown last week in a New York
city hospital. The first, on Mon
day, was a black-haired daughter
weighing five pounds and 10 ounces,
The second arrived Thursday morn
ing, had red hair, and weighs six
pounds and 12 ounce i To all ap
pearances, they are a normal set of
twins. The father is a telegraph op
erator for the Associated Press.
UNLIMITED AMOUNT OF MON
EY AVAILABLE FOR LOANS
TO M£ET PRESENT BUSINESS
NEEDS; INDIVIDUALS MAY
BORROW FROM RESERVE
BANKS IF CREDIT RATING
LOANS TO BeIZaDE AT INTER
EST RATES PRESCRIBED TiY
FEDERAL RESERVE BANKS;
EXPECT BIG SPURT IN BUSI
NESS AFTER PUTTING BIL
LIONS OF DOLLARS INTO
• The Federal Reserve system has
stepped into the industrial situation
of the nation and acted to furnish
money to revive industry, trade and
While the amount placed at the
disposal of current business is unlimi
ted the board made no estimate of
how much it would be.
Acting under an amendment to
the Federal Reserve law signed by
President Hoover on July 21, the
duals, partnerships and corporations
for an emergency period of six mon
ths. The loans may be made upon
paper eligible for rediscount by the
Federal Reserve banks ufed to fin
ance current business operations.
The amendment to the Federal Re
serve law provides that the banks may
be authorized by the board to make
the loans in "unusual and exigent cir
mcustances,” by the affirmative vote
of not fewer than five members of
the board and for such periods as
the board may determine. It alb re
quires that before mak’ng such a
loan the Federal Reserve bank shall
obtain evidence that the individual,
partnership or corporation was un
able to secure adequate credit accom
modations from other banking insti
The action of the board in author
izing the loans for the emergency
period follows complaints that busi
ness, industry and1 agriculture ha<d
been unable to obtain-fund'd with
which to carry on legitimate opera
Tlso pmproPnrv mnup will nPrtnif
o / *
individuals to borrow from Federal
Reserve banks upon agricultural pa
per or not more than nine months
maturity and trade *,and industrial
paper of three months. Borrowing
upon speculative paper is barred.
Commercial banks are not included
in the corporations which can bor
The board provided that the loans
must be made at interest rates pre
scribed by Federal Reserve bank ' and
approved by the board; and that each
application for a loan must be made
to the Federal Reserve bank of that
district and contain a statement of
circumstances giving rise to the ap
It also specified that each applicant
must satisfy the Federal Reserve
bank of the eligibility of the security
offered, give a statement of efort.'
made to obtain credit from banks
and state whether the applications
for such credit accommodations were
definitely refused and why, give a
list of its banking relations and com
plete credit data, agree to furnish ad
ditional security if called upon to
do so and submit to audits and ex
aminations by representative* of the
The Federal Reserve banks are re
quired to see that the financial stand
ing of the applicant justifies the loan
that the security offered is acceptable
from a credit standpoint and eligible
legally, that there is a reasonable need
for the credit and that the security
is adequate to protect the Federal Re
serve bang from loss. .