North Carolina Newspapers

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Ti4e ; Watchman Mil
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legislation To
1. Reduce Rates
Seems Likely
Both Public And Private Debt:
To Be AffectecT.
Voluntary Agreement Amony
Creditors and Relief By Laic
Are Proposed.
President Roosevelt’s call for a
general lowering of interest rare:
on the $25,000,000,000 of public
and private debts in. this country
was expected to result in a concert
ed move to that end both in and
out of the government.
Bills before the senate—whicl
have house approval already—would
enable corporations and municipali
ties or other political subdivisions ol
states to scale down the principal
and interest of their debts through
an agreement with the majority
Legislation is already in effect
which enables the individual to re
arrange his debt and interest rate;
through a pact with the majority
of those he owes and to give simi
lar help to yailroads. There have
been complaints that these laws
have not been particularly effec
Two methods have been suggest
:d. One was on a voluntary basis
and the other through legislation
which would enable the debtor to
get relief after a majority of the
creditors—from 6 5 to 70 per cent
perhaps—agreed that some way tc
ease the strain wasi necessary. Thi:
is in line with bills passed and pend
Among the debts mentionec
were those owed by foreign na
tions, but it jwas not made clea
whether he had war debts in mind
He has promised some communi
cation to congress on the subject.
An indirect result of Mr.'Roose
velt’s attitude probably will be ;
spur to refinancing efforts througl
the farm credit administration am
the federal home loan banks board
Man Survives
Dive Off Train
Gladstone, Man.—Hiram J. Buri
seventy-four, of Springfield. Maine
is safe in the home of his daughtei
Mrs. Louis Reid, after a dive fror
a fast moving Canadian Pacific ex
press train and escaped from
jflozen "gangsters” the aged travele
claimed were after his bankroll c
his life. »
The train was running abou
SO miles an hour between Verne
and Sturgeon Falls, Ontario, whe
Burr opened the rear door an
made his pilgrimage into the snow
Digging himself out, he walked t
' a nearby farmhouse. The div
was reported to the train crew an
i when the transcontinental expre;
pulled into Sturgeon Falls a yar
! engine and crew were sent bac
4 to search for him. He was foun
i taken to budbury and placed in b
j Joseph’s Hospital, suffering sligl:
injuries to his back.
He declared a dozen gangstei
l were plotting to take his life an
> steal the $189 he had in America
t currency along with a sheaf c
• checks. The police decided he w;
i having a flair for publicity an
: sent him on his way.
i .—
s Mutual savings bank deposito
) increased last year by 144,183 i
the 18 states where such banks oj
erate, the National Association <
? Mutual Savings Banks announce!
, This brought the grand total 1
i 13,413,049 on January 1,- withi
I 20,000 of the record number f<
all time.
Hearings before the house appro
priations committee disclose that
the federal government is bearing
' 88-7 Per cent of the relief load in
North Carolina, the state pays noth
ing and local communities contri
bute $906,466 or 11.13 per cent of
the relief funds. In the country
as a whole the federal government
contributes but 61.5 per cent of
the relief funds.
Juvenile delinquency and de
: pendency in January reached a high
mark ~rr- • i
i - vniviais.
During the month a total of 66
cases were handled by the juvenile
court. This compares with 18 cases
handled during December and 40
during January, 1933. It was ex
plained whereas Januaryls record
was unusually high, December’s was
unusually low, giving an average
for the two months not greatly out
of line with other months.
Guilford county was successful
out about $1,800 of this has been
redeemed. Tl,e county has also
met a total of $51,908.75 in ma
turing bond interest and principal
payments and in recent weeks has
also disbursed approximately $44,
000 to Greensboro and High Point
for school purposes.
In order to facilitate payment of
maturing debt service obligations,
’ the county recently borrowed
$100,000 on revenue anticipation
• notes, which mature July 15.
1 Machine guns and pistols roared
| Friday as bandits completed bank
1 robberies in four cities. In Need
■ ham, Mass., four bandits killed one
patrolman and wounded three by
standers in their escape after they
had secured $14,000. At Roches
ter, N. Y., four more robbers got
i $10,000 and escaped unharmed. At
Pennsgrove, N. J., four more
swooped down on two bank mess
mgers and snatched packages hold
ing $130,000 in cash. Three mask
, ed men robbbed a bank at Coleman,
l Texas, of $24,000, kidnaped six
- employes but later released them.
r The Home Owners Loan corpo
ration announces from its Salisbury
t office that in the week ending
r January 26, there were taken ovei
l 75 mortgages to relieve hard-press
i ed home owners. The corporation
nas assumed /U4 home mortgages
3 so far, with a value of $2,107,331,
e -
i $17,500,000 FOR N. C.
i North Carolina cotton and' to
t bacco growers are slated to gel
i around $17,500,000 in benefit pay
: ments for their contracted reduc
t tions in 1934 acreage, tobaccc
growers to get around $11,000,00C
s of the amount.
d -
f When officers rounded up a ganj
•s of robber fugitives Sunday neaj
d Sapulpa, Okla., a bloody battle en
sued in which the three fugitive
and two officers were slain.
n The South Carolina legislatur
i- has given final approval to the bil
f making kidnaping punishable b;
1. death, and sent it to Governo
o Blackwood for his approval. Th
n measure provides that a jury ma;
ir fix the penalty at life imprison
Sine for President I
CLEVELAND: . , , Miss Nan
Johnson, (above) has been invited
by President and Mrs. Roosevelt to
sing at the White House, some day
soon and she has accepted. Nan, a
victim of infantile paralysis since 6,
was prevailed upon to give up piano
and study voice. She appeared be
fore the Cleveland Rotary Club re
cently, which appearance brought the
White House invitation.
I Hanging Her "Duty” }
PADUCAH. Ky: . . . Miss Lurline
Humphries, 32, sheriff of Trigg
County, Ky., announces ‘ ‘ she will do
her duty ’ ’ in the possible hanging of
tVo men for whom the death penalty
has been asked, charged with assault
on a 9 year oldsgirl.
bees Hope of Raise
In Pay Of Teachers
George Bill Is Passed, Dr.
Allen Says.
Dr. A. T. Allen, state superin
tendent of public instruction, esti
mated that North Carolina would
get about $1,5 000,000 which the
state school commission could use
to increase teachers’ salaries if
congress passes the bill introduced
by Senator George of Georgia and
others to provide funds for schools.
The George measure, and a com
panion bill already introduced in
the house, would give $50,000,000
to the schools of the nation this
year, Dr. Allen said, and North
Carolina would probably get about
A provison is included setting
aside twice as much, or $100,000,
000, next year, and this state would
get $3,000,000 under that.
Dr. Allen said he was not cer
tain of just what the terms of the
bill are, but he understood the
{school commssion would1 be able
to apply the money to increasing
teachers salaries.
UN.C. Given $7,500
To Posh Drama Work
The Rockefeller Foundation, in
recognition of the distinctive work
in American drama being carried
on at the University of North
Carolina, has appropriated a fund
of $7,500 to the University, of
North Carolina for creative work
in the drama under the direction
of Professor F. H. Koch, founder
and director of the Carolina Play
And the crooks need less shoot
ing iron in their hands, and more
good jail iron around them.
Kowaja Vote On
Betting Is Stayed
Judge R. Lee Wright, acting foi
a number of citizens of Rowar
county, went before Judge A. M
Stack in Charlotte and obtained s
temporary injunction in the mattei
of a special election which has
been called for February 20 to vote
for a second time on the question
of establishing an agricultral and
breeders association and permitting
pari-mutuel betting on horse rac
The mater is set for further
hearing before Judge W. F. Hard
ing here February 16.
An act of the recent legislature
permitted the calling of an elec
ton. An election was held No
vember 21 and the issue was de
feated by a majority of 13 5. Sev
eral weeks ago the county commis
sioners called an election for Feb
ruar y20, and this wp‘
the county board of elections.
The temporary restraining ordej
stops the county commissioners
board o3? elections', registrars
judges, and the commssioners oi
the proposed association, the lattei
being W. C. Coughenour, John R
Crawford and Bryce P. Beard, fron
further activities until Judge
Harding hears the case further.
Returns From New Yorli
Mrs. Beldfield, ready-to-wea
buyer for Belk-Harry company, ha
returned from New York wher
she has been spending some tim
selecting new Spring merchandis
for the local concern.
"Did you ever hear a fishermai
I tell the truth?”
"Yes, I heard one call .another ;
I liar.” _
Do You Know The Answer?
Continued on page eight__
1. From what language is the|
word biscuit derived and what is
; its exact meaning?
2. What poem written by James
Whitcomb Riley, which earned for
him about $500 a word, is said to
i be the most profitable poem ever
1 written?
r 3. When and where was natural
: gas first used' for heat and light
: (in this country) ?
r 4. What was the late Thomas
- A. Edison’s famous definition of
genius? . .
5. In what book of the Bibl
do we find the following: "Eat
drink, and be merry for tomorrow
ye may die?’’
6. Did Chopin, the great com
poser, every, marry?
7. How long is the Lined
8. In what year was the firs
international yacht race held?
9. What is said to be the mos
remarkable diamond in existence?
10. Who wrote "Maid of At!
"Our new company is capitalized
at $10,000,000. It’s going to be a
winner. You better buy some
Is that so? Let me look over
the prospectus.”
"We haven’t got out a prospectus
yet. The blamed printer demanded
his pay in advance.”
Rooster: "What you grouching
about now, mother?”
Old Hen: "Why, first; our folks
went and bought an incubator to
take away my job, and now' I see
they’ve brought home some egg
plant seed. There ought to be a
law about it,”
Tlie great magician was about to
pull off his greatest trick. He had
got a local boy to act as his assist
ant and had coached him carefully
as to what he should do and say
The magician picked up a bag and
said to the boy: "How you, ex
amine this bag thoroughly and tell
us whether you find arything in
The boy didn’t ever; look in tlie
bag, but answered: "There ain’t]
nufciun.' in it. Had.
me put in it got JKB .
Two business rivals were having a
wordy conflict.
"You want me to tell you just
what I think of you, Freeman?”
sneered Brown.
"Yes, go on”, replied Freeman,
with an air of defiance.
"Very well,” said the other, "I'll
be brief. "You say, you are a self
made man—”
“I don’t deny it”, put in Free
man, with a self-satisfied grin.
"Which just goes to show the
horrors of unsk'Ved labor”, return
ed Brown.
Mother—"It grieves me, Willie
to see you taking the biggest and
best of everything and giving sister
the leftovers. Why, why even the
old hen gives the daintiest bits to
her chicks and takes the tiny pieces
Willie—"Humph! Who would
n’t with—worms!”
The teacher was examining the
class in physiology.
"Mary, you tell us,’’ she asked,
. "what is the function of the stom
L The little girl answered, "It is to
hold up the pettiicoat”.
"Pop,’’ said Willie, "what is a
gold bug?”
"That my son, is what they call
the men who want gold money.”
"And I suppose a silver bug is
a man who wants silver money?”
"That’s it exactly.”
"Well,—say, pop—I’m only a
little feller, and I’m satisfied with
being a nickel bug. Gimme one,
1 will you?”
A man on a Broadway corner in|
’ the theatrical district, observing a
small boy struggling with a load of
newspapers under his arm, remark
ed sympathetically, "Don’t those
papers make you tired?’
; "Naw,’ replied the kid. "I
) don’t read them!”
"Is this supposed to be a fast
-train? The advertisements said it
was,” remarked the excursionist to
a the conductor of the Chicago Lim
t "Yes, of course,” answered the
t "I thought it must be,” said the
passenger. "Would you mind my
- getting off and seeing what it is
- fast to?”
January Sees
Sharp Upturn
In The South
Contracts Awarded Total More
Than Double Those of Same
Month Last^Tear.
$3,126,000 FOR INDUSTRY
Rofid Building Leads In Amounts
Spent, $19,941,000 In January
As Compared With $16,
451,000 In December.
Contracts let in southern states
during January for enginering,
building and general construction
projects exceeded by. more than 37
per cent the preceding month’s to
tal, and surpassed the total awards
during the first month of 1933 by
nearly 155 per cent.
The contracts of January, based
Jn data assembled by the Manu
facturers’ Record daily construc
tion bulletin, called for an expen
diture of $48,870,000 as compar
;d with $3 5,5 86,000 in December,
1933, and $19,472,000 in January,
Preliminary announcements made .
last month for contracts to be
awarded carried a figure of $120,
483,000, an amount exceeded but
In the major classifications, road,
street "arid paving—work totaled ■—
$ 19,941,000, compared with $16,
451,000 in December.
increased mileage of county and
parish roads, and many are plan
ning to place under contract in the
quickest possible time projects to
be financed out of the $450,000,
000 emergency road fund.
Industrial and engineering pro
jects, involving an expenditure last
month of $13,985,000, stood sec
ond to road building, 'while levee,
revetment and dike construction
contracts last month were $5,8M,
300 as compared with $623,000 in
December, 1933.
In January sewer and water
works construction contrcts were
iwarded totaling $4,639,000 as
compared wth $1,742 ,000 , in the
preceding month. The total of
such contracts listed as to be
awarded is $24,13S,000.
A total of $3,126,000 was shown
as awards for new industrial plants
and expansion progrars of estab
lished enterprises, and public
building construction last month
called for an outlay of $12,393,
000 as compared with $6,748,000
representing contracts let for like
classes of structures in December,
The award of $2,3 51,000 of con
tracts covering general building
projects represented a marked in
crease over award of $1,891,000
for this classification during the
previous month.
Dwelling contracts during Janu
ary totaled $1,696,000 as com
pared with $965,000 let duiing De
Ann Cannon
Seeks Divorce
Ann Cannon Smith, daughter of
J. F. Cannon of Concord and wife
of F. Brandon Smith, is reported
to be in Flot Springs, Ark., seek
ing a divorce. She was divorced
from her first husband, Smith Rey
nolds, who married shortly after
wards Libby Holman. Reynolds
ter sensation has followed the prin
tre sensation has followed the prin
cipals. Mrs. Smith is 23 years old,
and an heiress to great wealth.
A revenue of $335,534,622 was ■;
clinked into Treasury coffers last
year by cigarette smokers. This (
was 25 million dollars more than
in 1932. It accounted entirely for
a gain in total tobacco taxes.
' i 'ISC’* W
Equalization of
The Real Aim
The “Supply” Policy
_ •j
Washington—Official Washing
ton believes that economic recovery
is so near to being an accomplished
fact that by May there will be
plenty of work in agriculture,
business and industry for all who
are now dependent upon the CWA.
What has been holding private capi
vai anu creuiL uac*. irom uie cum
plete cooperation under the NRA
which was expected, has not been
any shortage of funds in private
hands or of credit in the banks, but
the unwillingness of investors to put
their money into anything when
they had no assurance what the
money they would get back would
be worth.
^ The President’s new monetary
program, his supporters believe, has
put the major doubts at rest. Ic is
quite clear,to everybody now that
Mr. Roosevelt is firmly opposed to
anything like uncontrolled mone
tary inflation. There have been in
flation, to be^sure, and there will be
more, but it is all under very de
finite control and inside of fixed
limits. And the uncertainty as to
where the dollar would drop to in
terms of gold has been replaced by
the certainty that it will not be al
lowd to remain higher than 60
percent of its gold value nor lower
than 5 0 percent This has already
resulted in the return to the United
States of a good many millions of
American capital which had taken
flight from the depreciating dollar.
With all the authority wh'ch he
needs now in his hands, to back
him up much more fully than he
was backed up last Summer, the
next move of the President, or one
of his first moves, will be to re
open negotiations with foreign
countries looking toward equaliza
tion of.^11 the workf’s currencies on]
adjustment of wor’d currencies, can
take place without b• aging silver
back into its old money position lias
pretty well vanished here. The
Pitman amendment to the gold bill
strengthens the President’s hands in
dealing with the silver question,
and the likelihood that the curren
cies of the Orient and other silver
money nations will b; equalized
with gold seems better than it was.
How all this discussion about
gold and silver affects the ordinary
citizen of the United States is one
of those things which is not appar
ent on the surface, s.nce an Ameri
can dollar is still an American dol
lar, so long as the credit of tnc
TTnit-pri States hold stood, whether
it has gold or silver or only a prom
ise to pay back of it. And the
Government’s credit is still pretty
good, thank you; Uncle Sam had
no trouble in borrowing a thousand
million dollars overnight a few days
ago, and nobody anticipates any
trouble when he asks for a few bil
lions more in loans.
But what the Administration i:
aiming at is to raise the price of
basic commodities, such as cotton
corn, wheat, copper, steel, and a
long list of other things of whicr
we have and produce more than wc
can consume. The prices of inter
national trade goods are fixed ir
the world market, not in our owr
alone. International money is gold
nothing else. Our abandonment of
the gold standard has already sent
the price, in dollars, ot many com
modities upward, because it broughi
our international dollar more nearlj
on a level with the British pounc
and other currencies which hac
gone off the gold standard.
With all the money of all th<
nations of the world on an equa
and comparable basis of value, mea
sured in gold, nearly all of th
President’s economic advisers agrei
that world prices would came bad
to the 1926 level. And with worh
prices up, internal prices would gi
up in dollars, there would be ;
profit to capital in investing in in
dustry and business, which in tun
could afford to employ more peopl
at good wages, who in their tun
could spend money for more thing
than they can now, and the wheel
of prosperity would again begirt ti
Such a readjustment of th
world’s money systems, however
would not mean that farmers couh
again run wild and grow ur.1imite<
Continued on page four

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