North Carolina Newspapers

    Attend Salisbury’s Dollar Days September 6 and 7
The Carolina Watchman
j RFC And Banks
At Cross-Purposes
A National Central
One of the things which the
President is expected to call on
Congress to straighten out next
winter is the matter of control of
banking and credits.
Ultimately, many folk here be
lieve, the Government will become
the sole primary source of credit.
All the indicatons point that way.
At present, however, there are three
separate institutions dealing with
the banks and each exercising some
sort of control over credit. And
those three are pulling in different
There is the Reconstruction Fi
anace Corporation, the Treasury
and the Federal Reserve Bank sys
tem. The first two are Govern
mental departments, the last osten
sibly a private institution, but und
er close Government supervision
and control.
The RFC not only has lent a few
billion dollars to banks, but it is
now, under a law passed at the last
session of Congress, making loans
to private industries. All of those
loans are amply secured. Indeed,
the RFC—which is, incidentally,
one great Governmental agency
which was established under the
preceding administration—is the
source to which almost all sound
business enterprises of any size are
turning for working capital. There
is no doubt in the mind of anybody
that these loans will ultimately all
be paid back, with interest.
The RFC also has invested a
great deal of Federal money in the
preferred stock of many banks all
over the country. The theory of
this is not only that weak banks
needed this strengthening but that,
being a l»ry smoidkbfdd**,.ifljfrr* i
ernment would thus be entitled to
a seat on the board of directors, and j
so keep watch that no depositors’ i
money was lent for speculative pur
poses. The Administration believes, j
and rightly, that a large part of our
financial difficulties have arisen
from too easy credit for purely
speculative purposes. But it was
definitely the intent that this addi
tional bank capital, provided by the
RFC, should be used to enable
banks to make legitimate loans to
business and industry; in other
words, to loosen up bank credit.
That would have been all right
if it had not been for the directly
opposite view on credits taken by
the Conptroller of the Currency’s
office. That branch of the Treasury
is charged with the periodical ex
amination of all national banks. In
instance after instance^ when banks
which have sold preferred stock to
the RFC have used the proceeds in
loans of unquestionable soundness,
bank examiners have called their
directors together and "bawled
them out” for making such loans.
Instructions from Washington to
bank examiners are to compel every
bank to call in every dollar of out
standing loans not secured by good
collateral or made against financial
statements which indicate many
times the value' of the loan. And in
the case of debtors of long stand
ing who have been unable to do
much more than pay their interest
(Continued on page four)
Miss Hambley Cro wned ‘Miss North Carolina’
Stores Observe Holiday
Along With Other
Lines Of Business
Plans have been completed for
large crowds who will attend the
automobile and motor cycle races at
the Maple Grove tracks on Monday,
September 3rd, Labor Day.
At least seven big events are on
the card for this part of the pro
gram. There will also be stunt
flying in the air. Mr. C. C. Gray
who made a success of the July 4th
races at the local fair grounds will ■
have charge of the races, and a rare
vantage of this sport.
A general holiday in the city
has been forecast, as the merchants
will close for the day, business gen
erally will be suspended, although
some of the grocery stores will pro
bably be open for a part of the day
as a matter of convenience to their
customers. While the banks, post
office and county offices will observe
the day as a whole.
The labor organizations have an
nounced no program for the day,
and the main events are expected to
be the attractions offered at the fair
Miss Cobb Victor
In Political Race
On the third ballot in the most
heated race between women in
North Carolina since they began
voting in 1920, Miss Beatrice Cobb
of Morganton Wednesday night
was elected national committee
woman of North Carolina’s Demo
The widely-known publisher of
the Morganton News-Herald won
over Mrs. Marshall Williams of
Faison, Mrs. E. L. McKee of Sylva,
and Miss Mary Henderson of Chap
el Hill. Mrs. C. W. Tillett, Jr.,
who was prominently mentioned
for the post, was named vice-chair
man of the party, and J. W. Wine
borne was re-elected State chair
Lawsuit Threatened Againstj
Members First M. E. Church
Members of the First Methodist
■church here whose signatures ap
peared as underwriters of a bulletin
published regularly as a church or
gan by the pastor, have received a
letter from a lawyer in Winston
Salem, John C. Wallace, notifying
them that two of his clients, Milt
D. Hinkle, owner and manager of
the Teaxts Rangers Rodeo and W.
F. McCanless, prominent local cot
ton mill owner and member of the
city council, have been damaged in
excess of $20,000 by references in
the bulletin of July 29, 1934.
The letter asks that the matter
be taken up with the Winston man
to effect a settlement out of court, i
The references which brought]
about the action concerned a ro
deo show which appeared here on
August 1-4 under Hinkle’s man
agement and at the fair grounds
just beyond the city limits owned
by Mr. McCanless.
Members of the rodeo company
and those sponsoring it were re
ferred to as criminals and even
"Dillingers” and stated that 'if
our officers of the law arc worth
their salt, no such criminal per
formance will be held.” In re
ferring to the air show previously
held, the bulletin likewise said
"even the public roads were closed
by outlaws who pretended to be
officers of the law.”
Rev. W. A. Newell,.pastor of the
church, in the bulletin of August
5 said he was editor of the bulletin
"and personally responsible for every
word printed in it.”
Preparations are going for
ward for two big trade in Sal
isbury days on next Thursday
and Friday, September 6th and
7th, which will be known as
"DOLLAR DAYS’’ and in which
practically all of the merchants
of both Salisbury and Spencer
will participate in, and offer
many various bargains and in
ducements to the people of the
cities as well to the people of
the county and rural sections .
This event will be well worth
coming miles to share in the
many bargains that will be of
fered in practically every line of
A nation-wide strike in the cot
ton textile industry has been called
to start at 11:30 P. M., Saturday
night. The call was sent out
Thursday morning to the more than
500 local unions, affecting some
thing like 425,000 workers.
Local unions in this section art
making plans to co-operate 100 pet
cent it is stated here.
Labor Union
Vote To Support
Proposed Strike
Textile union workers of Rowan
county have informed headquarter;
that they are with the proposec
strike committee 100 per cent. Re
solutions to this effect were adopt
ed at a meeting attended by 200 oi
more workers.
At a meeting of the Centra:
Labor union, the proposed nationa'
textile strike was indorsed and th(
labor hall on Fisher street was pro
offered as strike headquarters foi
this state should Salisbury be- select
ed as the location.
A committee composed of C. A
Fink, president of the Central la
bor union, C. P. Barringer, F. N
Cuddihy, J. A. Pinkston and J. W
Rideoutte was selected by the tex
tile workers in this section in the
conduct and handling of the strike
In an open discussion at the
meeting, it was stated that indi
vidual members of the labor unior
regretted the necessity of the strike
but felt that certain evils in the
industry had reached the poinl
where amicable adjustment througl
arbitration was not possible and
that the only way to cure the con
ditions was to bring the matter be
fore the administration in Wash
ington by means of the last re
sort—a strike.
Local Girl
Wins Legion
Beauty Pageant
H. E. Olive, Lexington
Attorney, Chosen
Miss Esther Coleman Hambley,
of Salisbury, beautiful daughter of
Mr. and Mrs. W. H. Hambley, was
[named "Miss North Carolina” for
1934 at the American legion beau
Jty pageant which featured the fin
lals of the convention held in
[Greensboro Tuesday of this week.
She was crowned at a ball in her
i honor Tuesday rftjght by Julian
Price, president of the Jefferson
Standard Life Insurance Company.
The runner up was Miss Edna
Taylor of Washington, who was
'"Miss North Carolina” for 1933.
I Miss Katherine Lowdermilk, of
Jla? 1W’ W3S WinnCr °f thU:d
The beauty pageant, and the ball
t honoring the queen at the King
I Cotton hotel, were final events in
'the annual convention of the North
j Carolina legion and auxiliary. More
than 1,000 convention visitors and
residents viewed the pageant at the
stadium and fully that number
packed the hotel ballroom. The
dance was a courtesy to the legion
of Jefferson Standard Life Insur
ance company.
"I just can’t thank you enough,”
said the demure and petite Miss
Hambley when asked to speak a
word after Bryce Beard, of Salis
bury, former state legion comman
der, had presented her with the
crown and a great arm boquet of
flowers. Wearing her crown and
carrying the flowers, Miss Ham
bley was escorted into the King
Cotton Ballroom, wnere an eager
crowd awaited, by Dr. Macon He
witt, of Siler City, and received
congratulations „from every side.
[At the stadium it was apparent from
the beginning that the little bru
nette from Salisbury was the fav
orite of the public. The judges
concurred only after careful con
sideration and their decision was
Miss Hambley, 17-year-old
[daughter of Mr. and Mrs. W. H.
Hambley, of Salisbury, was grad
uated from high school in June
and 'is enrolled for the fall at
Brenau college, Gainsville, Ga. She
is five feet two and tips the scales
a little under 110 pounds. She has
(Continued on page five)
Doughton Thinks
Byrns Will Be
Next Speaker
Congressman R. L. Doughton,
in Concord Tuesday for the re
union of the Barringer family,
told newspaper men that he thought
Rep. Joseph W. Byrns of Tennes
see would be chosen speaker of the
house in the next congress.
"I am for Byrns,” Mr. Dough
ton said. "He is the majority lead
er for the house and is well quali
fied for the important post of
speaker. I have nothing against
the other candidates but I’m sup
porting the Tennessean.”
Mr. Doughton plans to open his
campaign for re-election to con
gress on September 15 th at Boone.
■ 1 i
The Civilian Conservation corps
announces that the number of
camps for North Carolina has been,
increased from 3 5 to 39, to be
220-man company units. Nearly
8,000 men are to be enlisted in the
contingents for this state during
the winter. This feature is re
garded as the President’s chief hob
by and was the first emergency act
he asked of congress after the bank
Thomas Louis Buff, of Drexel,
shot himself to death Saturday at
the home of his sister, Mrs. J. O.
Zimmerman at Asheville. Despon
dency over ill health is thought to
have been the cause.
The Public Works Administra
tion at Washington included Gas
tonia of this state for an allot
ment of $22,000 in the' construc
tion program, to be applied to
Demon Cox, 23, is being held in
the Surry county jail in connection
with the killing of Will Hall, Jr.,
21 -year-old son of a deputy sheriff
of Wilkes county who was aiding
his father in making the arrest
when he was fatally injured, sup
posedly by Cox.
An election is to be held in Janu
ary in which the population of that
rich region known as Saar will vote
on the question of a return to Ger
many. This territory is a great
dividing contention between Ger
many and France, and Hitler is
urging France to be friendly while
the Nazis directs the settling of
this big question which has kept
alive warm hostility between the
two nations.
Fred Beard, 32, hosiery mill
worker of Ffickory, was killed Sat
urday night when walking along
the highway at Valdese when he
was struck by a passing auto. Joe
Coley, young white man of Wades
boro, was also killed Saturday night
when the car in which he was rid
ing plunged in a gulley at a sharp
turn and overturned. The latter
is survived by his wife and one
Edwin B. Jeffress, chairman of
the highway and public works
commission and president of the
Greensboro News company, had a
sudden attack of vertigo at his
home in Greensboro Sunday morn
ing when preparing to take a bath.
His removal to the hospital reveal
ed that the attack is hemiplegia,
and that his entire left side is af
fected. He returned last week
from an automobile tour with his
family in the mid-west, and was
gone 12 days. He was thought to
be in the best of health, and much
concern is felt for Mr. Jeffress over
the state.
Diner (examining menu):
"Chicken croquettes, eh? What
part of the chicken is the croquet
Friend: "It’s the part that goes
on the table last.”
Only Two Days
To Pay Taxes
County Delinquents Are
Reminded That The
Time Is Short
Today’s issue of the Watchman
contains the final publication of the
list of delinquent taxpayers in
Rowan county. On Monday, Sep
tember 3, the property represented
in this advertised list, will be sold
at public outcry, at the courthouse
door, in Salisbury. Those who have
not had their names removed from
the delinquent list, have just two
days in which to make settlement.
Most of these delinquents per
haps expect to wait until the last
minute to make settlement. It
would seem that that is their in
tent, by the few who have come in
to pay up. But the time of final
settlement creeps up rapidly.
Since the start of publication of
the list, very few have had their
names removed by settlement of
their taxes. Those at the sheriff’s
office charged with the collection
of county taxes are disappointed
that more have not come in anc
paid. The county needs the money,
[and it is due and should be paid.
There probably will be the ex
pected last minute rush, but those
whose names appear on these lists
are reminded that the time is short.
Owing to Monday being a legal
holiday, it is likely the sale will be
postponed until the following day,
Tuesday, Sept. 4.
Prosperity Grange
To Present Play
On Saturday night, beginning at
8 o’clock, members of Prosperity
grange will present a play, "The
Man That Left the Farm” at Pros
perity school house. The comedy
is a three act play. A string band
from Albemarle will furnish music
between acts. The public is cord
ially invited to attend.
Members of Piney Wood’s Sunday
school will serve ice cream for the
occasion beginning at 6 o’clock.
The proceeds from the sale of this
will be added to the church build
ing fund. Come and bring your
friends with you.
Aged Man: "Well, smoke and
chaw purty strong and I’ve alius et
anything I could get my hands on
and I never take a bath and I ain’t
never been to a doctor.”
( Specialist: "Hold on. There’s
|something wrong here. According
to the statistics you should have
been dead 40 years ago.”
Exams Be
Given To
Those Who Fail To Be
Quietly Let Out With
out 'Publicity
Some of the 15 5 -odd appraisers of
the Home Owners’ Loan corpora
tion in North Carolina and 77 in
South Carolina will probably find
themselves out of jobs before long
or, at best transferred to work of a
different character within the
HOLC organization in the Salisbury
and Columbia offices, if such jobs
can be found.
This information was learned
from Philip W. Kniskern, appraisal A
adviser to the Federal Home Loan ™
Bank board, that special examina
tions have been given to all those
listed on the HOLC records as ap
The examinations were held re
cently at several places in the Car
olinas and were carried on without
publicity. Special examiners from
headquarters journeyed to the two
[states to give the examinations,
which were taken in writing by the
appraisers. At some places school
rooms were "borrowed” from local
school authorities; in others the
HOLC offices were used.
The Carolinas’ examinations were
part of similar tests given to the
8,000 appraisers of HOLC through
out the country. According to Mr.
Kniskern the examinations were
very carefully worked out and were
of a technical nature, so that none
but a competent appraiser could
pass them. He said, however, that
a genuine appraiser should have no
difficulty in meeting-the tests.
"The examinations were design
ed to disclose individual ability with
regard to accuracy of valuation, de
pendability, intelligence, profession
al standing, integrity, experience
and competence to deal wth unfor
seen contingencies arising in apprai
sal operations in the field,” said
"In handling the 1,600,000 ap
plications by home owners for
mortgage relief already made to the
corporation, probably no step has
been more vital to home owners, to
the corporation, and to the entire
urban real estate market than the
establishment of fair property val
ues as the basis for the long-term
i (Continued on page five)
General Johnson Gets
$9,000 Salary Hike
Washington.—Recovery Admin
istrator Hugh S. Johnson is receiv
ng $15,0000 per year, the highest
salary under the NRA, it has been
The salary now paid to the ad
ministrator represents an increase
of approximately $9,000 per year.
Previous to the increase, John
son was receiving $6,000 per year,
a sum slightly under salaries paid
his personal secretary, Miss Fran
ces Robinson, NRA Counsel Don
ald Richberg, and Alvin Brown, an
assistant NRA administrator
The increase became effective on
July 1.
New Catawba
Faculty Member
Prof. Howard E. Slagen, of Tar
reytown, Md., has heed added to the
Catawba college faculty as assist
ant professor of the classics, and
will teach courses in beginners’
Greek and Lation this year, and be
superintendent of the self-help pro
gram for students, it is announced
by President H. R. Omwake.
The college opens Wednesday
September 12, with registration for

Page Text

This is the computer-generated OCR text representation of this newspaper page. It may be empty, if no text could be automatically recognized. This data is also available in Plain Text and XML formats.

Return to page view