Newspapers / The Pilot (Southern Pines, … / July 31, 1931, edition 1 / Page 2
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Page Two THE PILOT, a Paper With Character, Aberdeen, North Carolina Friday, July 3^ 1S31. THE PILOT r Published every Friday by THE PILOT, Incorporated. Aberdeen, North Carolina NELSON C. HYDE, General Manager BION H. BUTLER, Editor JAMES BOYD STRUTHERS BURT RALPH PAGE Contributing Editors valued at thirty cents, wheat ^t I three dollars, tobacco like cotton. Today wheat is fifty cents, cot ton nine. The man, if any, who has held his thirty-five cent cot ton to get a higher price for it, has paid on it in that time more money in taxes than he can sell it for today. Even gold coin it self was worth ten per cent in the rush of speculation a couple I of years ago, and now one per Subscription Rates: I cent is about as high as folks One Year 1 ...$2.00 i pay for Very much money. Six Months $1.00 Prices are merly opinions. They Three Months 50 become of value when two men agree on a price and make a sale, but a sale does not fix prices, for the next sale will be governed by the two men who make it. Each new transaction is at the command of the two men who make it. In the main the buyer fixes the price. If he does not buy there is no price. That is why the country is load ed up with an army of sellers all Address all communications to The Pilot, Inc., Aberdeen, N. C. Entered at the Postoffice at Aber deen, N. C., as second-class mail mat ter. THE CREPE ON THE DOOR DEBTS AND PROSPERITY That helpless little flurry which had for its purpose to buy now and help business along died down about as quick as it wealthy philanthropist can find no better means of doing some thing for humanity than by en dowing a student loan fund, says an editorial in the Houston versity and the results speak MRS. MAKY COX Thomas well for the students who must borrow against their future earning power to obtain an edu cation. The loan fund of the Univer- DIES IN HER 8,ST YEar Who has been in declining iJeaTth ^ Mrs. Mary Cox Thomas, of _ he: some time, passed away last Satu for ;u 3i debts’and enable people to' getj^e Moore County Educational olences make educational in 1869. He pieceeded (Texas) Post-Dispatch The Pi- was DroDoseT“and" cleared" the I lot hastens to endorse the senti- ‘ sity of Oklahoma, established day in her eighty-first year. She rky for something S more i ment. It has been much interest- five years ago by Lew Wentz, ed the Methodist Church at the a likely, which is to pay your j ed in the developmnt locally of' illustrates just how^ such benev- happily married r- join- age of to The climax hovers over us this week in the appeals brought | the time trying to persuade peo- before the commissioners con-<P^® never with an few years has been sending worthy young Sandhills students off to college, boys and girls who would otherwise have been un able to continue promising edu cational careers. The laical foundation finds that loans of from $150 to $250 will frequently mean the differ ence between a boy or girl go ing to some advanced institution cerning tax values as laid by the present group of assessors. The difficulty is that we are all hug ging the delusion that lands ac tually have values. They do not. They have ratios that are in some indefinite degree compara tive but not a foot of ground in North Carolina, or probably in army of buyers trying to urge people to sell. One of our bur dens of living is the big force of sellers trying to unload on us all the time all manner of contri vances we do not want. The truth about this whole business of valuations is that it is a necessary step^ in gathering money to pay the interest, debt all the world, has a definite, fix-'and operations of our govern-,national and everything, we are ed value, positive in its terms, j ment, and it whittles down to I going to sit with our feet in the Were such the case these con-'an effort to arrange a basis from | tar barrel, tinual reassessments would not which each of us will pay a fair be necessary. The only time two j portion of the amount called for. men positively agree on the val-: These portions will be as equita- ue of any piece of property is ble as the men assigned the job when one buys and the other can make them, but if anybody sells the article at an agreed val- : thinks accurate values have been ue. Many men will put a value on: fixed on anything another guess property who would not pay the | is coming. Ask any dozen men su mfixed to obtain it, or who separately to put a valuation on would not take the price propos- anything, and see how near they ed and sell it. In making compar- agree. Then take their valuations ative values of property all the. and go to different banks to varying factors enter into the i borrow money and see how near valuation, and is a right price to- ! the banks agree with each other day may be wholly wild tomor- and with the various assess- row. Several reasons govern. Ajments, unless they agree that man will be willing to pay a dol-, they will not lend anything on lar for a dinner if he has not had any of the values. dinner, but he would not give ] five cents for dinner after he has dined. Or if there are five men and only one dinner those five would be willing to pay more than a dollar for the dinner. One might be willing to pay ten dol lars for it. But that still does not fix a price for dinners. accounts squared and ready for Foundation, which^ for the past further business activity. There is mighty little danger of over production of anything in this world if we have money to buy, for the average man or woman will buy a sawdust pile or a right-of-way in the middle of the ocean if the money is avail able and a good salesman puts up a plausible scheme about it. Our great trouble now is that we have bought too much that we didn’t pay for, and that we have to use our money paying what we owe before folks who have things to sell will sell us any more except for cash. If we step softly for a time until we can clean up our debts, paying what we owe that others can with the money pay what they owe, people will have money to start industry again ,banks will be safe in loaning money again to those who will pay it back, and business will get on its feet. But until we do clean our credit slate, individual, county, state. tages available students were to worthy her to the grave twelve years ago aided without a Mrs. Thomas was a devoted moth single student’s note being ^ true friend, and kind neighbor charged off the books as uncol- ' leaves the following children to nm ^ her loss. Mrs. Ab. Thomas, Miss me Thomas, Melvin Thomas of c eron and John Thomas of Raleu' She is also survived by twenty children and eight great-grand cliit dren Funeral services were conducted the home, by the Rev. .vir. BaU lectable. During the last school year, for instance, loans of $50,922 and John Thomas of were extended to 207 students, who otherwise would have been deprived of the opportunity to continue their studies. The value of the student loan Methodist minister of Aberdeen as which will"mean much to’Mm* or . fund, as illustrated by the Wentz listed by the Rev. M. d. McXeiu of her in later life, and going to' fund in Oklahoma, lies, m the the Presbyterian church of Camerra work straight from high school,, fact that it assists those who Many friends were present and the poorly equipped for advance- are worthy and conscientious. Ao'al offerings were beautiful, h. What bank can boast a record temient was in the Cameron ceme. as good as that of the Wentz fund, with 723 loans and not a ment and success in bu«iness or profession. Unfortunately, the local foundation also finds that it is financially unable to send off to colleges each year any single default? That remarkable henry maples, former record indicates that the stu- TAXING THE PINE TREE This country has sunk into a moratorium, not deliberately, but negligently, and it has to climb out before the wheels will go round again. No people can thrive on their debts. The man who has saved his money and stayed out of debt is the man who is welcomed with a glad smile any place where he wants anything. And he is the man who has flour in the barrel and money to buy more. The man who buys today and depends on paying tomorrow is courting the undertaker, for tomorrow brings I its own responsibilities and does I not very often care to bury the ■ dead of the days that are gone. 'Just as fast as we get back to j the basis of getting our cake be fore we eat it we will return to where near the number of appli- i dents aided are honorable young cants for these student loans, applicants approved by the foun dation directors as worthy of aid. It lacks the funds which should be forthcoming if those able to provide capital realized the “big dividends” paid by the ‘'comparatively small invest ment.” Let us continue the editorial in the Houston paper: Such a fund is in operation in practically every American uni men and women, with a realiza tion of their obligations far above that of the average citi zen. In these days of widespread credit dealings, when nation- county resident, dies Henry Maples, aged around 80 years, died suddenly at his home in Durham last Friday night. Mr. Maples lived for many years in Moore county near Cameron, moving to Durham about ten years ago. His wife, who was a Miss Munroe, proceeded him to the grave a few years ago. After fun- GRAINS OF" SAND wide organizations are needed to prevent abuse pf credit pnvi-1 eral services in DurhamlheTntem^^^^ leges, it is encouraging to learn ' was at the old Kitchen graveyard that American college students ' Cameron. Mr. Maples is surviv- are so faithful in meeting their i several sons and daughters and , i other relatives, obligations. The State Association of Cor.ntv Commissioners will meet at Asheville j August 11-13. Moore county will ser.d one of its members. Apparently the life of miniature golf was decidedly miniature. We can’t find anything wrong with the moratorium except that it won’t fit into headlines. The second largest craft of its kind ever constructed in the United States, the new Diesel yacht Caroline, was launched at Bath, Maine last week. The local interest is that the yacht was built for Eldridge R. Johnson of Moorestown, N. J. and the Sand hills, North Carolina. Little Caroline Fenimore Fitler, 6-year old daughter leased the Mrs. H. A. Page, Jr., house on Indiania avenue. Southern Pines. Dr. and Mrs. A. C. Flint of Millbrook, N. Y,, have leased the Pushee house # now occupied by Mr. and Mrs. Ed mund Pavenstedt, who plan to move soon to their new home, formerly the Herring house, on Morganton Road. Both Southern Pines and Pinehurst realtors report considerable early ac tivity in the rental field. And many reservations for stabling horses are being made. PUNCTUAUTT PROMPTNESS PRECISION Dr. A. H. McLeod hit a basic j prosperity, but the more we at- theme when he said it is a crime | tempt to eat our vittles before to tax a pine tree. Fine trees we get them the more we will eat havp Tin mnnpv vpIiia in fViiQ bitter ashes of Dead Sea ap- i of and Mrs. Nathan M. Fitler of wv, .-u . - -- H ? 7: pies of disappointment and trib- ' Philadelphia, christened the boat. When the township assessors ^lon of the county, for they are ' u^tion. < had fixed values a protest came decorative rather than utilitar- | 1 that one township is lower than ian. Take as an example that another. When the counties paid tract of pine the doctor owns state taxes on values we always down near Drowning Creek. To had the complaint that some cut that stuff for lumber would counties were lower than others, be to destroy more value that i.s And the basic protest is in the not monetary than all the money individual assessments that that could be thought about in ;-o e are lower and some higher connection with the pines. In- th: 11 others. The whole thing is stead of the charming drive (in.. of "-ompari.-ons. No two men through the woods on Horse’s compare alike. And the reason Creek a desolate desert would is because there are no absolute disgust the people who come into vahj^<. reovL-r nothing has a the Sandhills to find a delightful Special Low Round Trip Coach Fares August 7th, 1931 The population of Carthage increas- , ed in equal proportion to the decrease ^ FROM ABERDEEN TO Atlantic City SIO.OO Philadelphia 9.50 WORTH LOOKING , INTO THOROUGHLY | George Ross, w^ho was dow^n i from Raleigh a few days ago, | stopped at The Pilot office long ' enough to talk a little about a scheme he has in min dto estab- lishg a fixed trust havin! for its aim the accumulation of North Carolina securities and' their sale to the people of the ■ st^te in the form of trust certi-1 ficates. The underlying thought i is to afford an investment for ‘^niail investors who want to i save their money, but who do | not have enoug hto buy exten-! siveJt of shares in North Caro- ■ lina industry, or the experience >our buckets with water you Weymouth hills, or around Pine- , determine what to buy. take from hi msomething he has i burst, or around Verner Reed’s i ^ proposition that i paid for. On the farm in the I house, or on the Callery lot on i immense value to country you go to the well or Rockfish Creek. | state, both in an industrial the spring and fill your barrels It would be fully as logical to ^ investment way, if it can all day and folks laugh if you levy an assessment on the shrub-1 organized. The main thing ask how much is the price. i bery the Daughters of the Con- | ^ corporation that will be com- Air is the most valuable thing federacy are planting along thei^^^f^ some of the leading we use, and no one worries about I Route 50, or that the Kiwanis i ^^smess men, which the price of it except the man i Club has been encouraging be-1 ^ down in the mines, where it has | tween Aberdeen and Southern to be pumped in to him all the ; Pines, or the plants on the dou- time. The little boy with his yel- !ble road between Pinehurst and low fice dog would not trade the Southern Pines, or the embellish- We didn’t look far enough along in our copy of the August Scribner’s when we announced last w’eek that it contained an article by Struthers Burt. If we’d kept on going we’d have found one also by James Boyd, of Southern Pines. His contribution was of particular interest. Titled ‘‘Blood hound,” it was based on an actual ex perience of running down a nesrro thief through “Jimtown.” Good story, too. Aberdeen Tuesday. Only those whose property assessments had been loTver ed remained in their home towns. Webster Knight 2d, who has trans formed the old Walter Maples place on Bethesda Road into one of the most attractive estates in the Sand hills, is now adding a swimming pool to his equipment. Incidentally, Mrs. Knight’s picture, taken with her fath er, Vice President Curtis, appeared in the rotogravure section of last Sunday’s New York Tribune. Pittsburgh 12.50 New York City 11.50 Tickets sold" for all Trains. Limited August 10th For Information See Ticket Agent H. E. PLEASANTS, D. P. Raleigh, N. C, A. Seaboaid LIWE RAILWAY def ni+^ value. Gold itself has no positfixed value. The gold dollar is an arbitrary, shifting yar l s'tick of financial value, and no more dependable than a buck et of water. If you go to the house of a man in town and fill r lace to live. To cut a thousand dollars’ worth of timber from Lr. McLeod’s place would dam age the Johnson farm close by ten times as many thousands. To cut a pine tree is a sin. Imagine utting the round pine on the The Lenoir News-Topic was awar:;- 11: ed the annual trophy as the “best : weekly paper in North Carolina” by : ^ the publishers at their convention at | ♦♦ Morehead City last week. Darn us i H * I anyway. We forgot to send in our ; ♦♦ exhibit. ! H ! Xi - I ^ - ♦♦ I ♦♦ Sign of the approaching winter: I Paul Bamum putting in his supply of j ♦♦ coal this week. Gosh, w'e’d forgotten ‘ S there’s such a thing as coal. I § little mutt for all the dogs of the Moore county hunt club, and the hunt club would not tolerate the little boy’s dog on the hunt property, but owns dogs it would not sell for all the fice dogs in the United States. Values are proportionate, which is the cause of all our trouble in taxation. A sale does not fix a price. The beneficient government, impell ed by the idea of politicau gain, and by somewhat of a desire to help the fanner, established land banks, which only succeeded in tying millstones about his neck, and where they sowed a dream of help the country is now reap- mg a harvest of abject desola tion and ruin. That error in val uations has wrecked the farmer, broken the banker, disarranged business, and overthrown the es tablished financial order in the most comprehensive manner. Land banks loaned money on lands at valuations that today provoke a smile along with the heartache that contemplates the figures. A few years ago cotton was ments on May street, or any other of the magnificent things the folks are doing in all the vil lages. The attractiveness of the Sandhills is what brings people here and what will make this community the enjoyable section it is certain to become if it is further beautified. In lieu of the tax on pine trees The Pilot suggests to levy a tax on every acre of ground that is not planted with at least a few pine trees along the roads, and to put a tax on every pine tree cut for lumber unless a capable landscape architect says the loss of the tree will in no way affect the appearance o fthe place where it is cut. This part of Moore is no longer a lumber re gion. The only value pine trees have in the vicinity of the resort country is that of beautification, and that value is not to be meas ured by money. Frank Buchan years ago insisted that an acre of pine trees is worth more than an acre of peach trees. It is a pity we did not leam that long before now. careful management of it. The state has a lot*of good industries and will have more. The secur-' ities of these industries are safe i and profitable investments if un- | der the counsel of a board of i managers, and such a field forj small investors would open the | way. to much more saving and investment than is available to the small financier at the pres ent. It would supplement the building and loan associations as the field for the worker and the individual of prudent inclination and not very big income, and in the long run it would attract a lot of money to North Carolina industry, and broaden the econ omic habit of many people. Of course management is a vital factor in such a project, but that can be arranged by the leaders in financial and industrial af fairs .With intelligent conserva tism such a thing would pay its opei^tmg costs and be a power- lul help in holding North Caro lina on a sound financial basis. Other signs of the nearing season , ♦♦ are reports of rentals. Mrs. Myers ^ H Hoyt of New* York, we hear, has again I ♦♦ I ^ ■'" • ♦♦ i ^ \ n MANLY I^UDENT LOAN FUNDS In seeking a benefaction which will pay big dividends on a com paratively small investment, the Mr. and Mrs. Robert James Hester, Sr., have announced the marriage of their daughter, Anne Lorena, to Wil liam Paul Phillips, on Saturday, July 25th at Elizabethtown. The young couple will be at home after August 1st at Fairmont. Mr. and Mrs. W. C. Ferguson and Miss Cornelia Phillips, attended the marriage of their broth er in Elizabethtown, Saturday, and were guests at the wedding luncheon. Miss Mary Cameron and Crawson Cameron attended the anniversary services held at Cypress Church Sun day. Miss Hall of Raeford is visiting her sister, Mrs. P. D. Sessoms this week. Miss Margaret Cameron, Mabel Wil son and Leland Pearson went to Rae ford Sunday. Mrs. Patterson and daughters, Sar- j ah and Rebecca attended the Centen nial services at Cypress Church Sun day. W. L. McDonald and family are visiting relatives near Carthage. Mrs. Walter Blue and Mrs. Dorn of Southern Pines were guests ots Mrs. L. L. Wooley Monday. Mrs. Lizzie Wilson and James Wil son were visitors in Cameron Sunday evening. :: tt If 3 n ♦♦ GOLF The Graystone Inn AT ROARING GAP i NOW OPEN § I Golf where it’s cool. Ride where it’s a cool. Swim where it’s cool. Dance where it’s I cool. I PINEHURST INCORPORATED MANAGEMENT u
The Pilot (Southern Pines, N.C.)
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July 31, 1931, edition 1
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