Newspapers / The Daily Advance (Elizabeth … / Sept. 17, 1924, edition 1 / Page 3
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Thinks Port And T erminal Provisions Too Indefinite Senator from Pasquotank Points Out \\ liy lie Thinks Those W ho Favor Slate Ships and Terminals Shotihl Vote Against Present Bill II) SKNATOIt l\ II. WILLIAMS. The bill itri'parcd by the propo nent* cf Slate Ships and Termin *1* and referre d to the people for ratification, contains misleading, uncertain, indfiinit*. m.?? in,|. dented features that should scrutinized carefully before cust Iuk a vote. The ballot will bo very adrdlt. Ingenious and deceptive, it should have contained the word*. ??For bonds for ships ? a?d ? t-nnltmlfr." rj?#lch language would correctly '.'rfpress the true intent of the Act. Instead, however, of h ballot ix pfeoilvc of the pur pour of tin- Act. the proponent* *ucceed in havinv adopted a ballot, "For Port* De velopment," and "Against I'orl* Developing lit. " Which to th. a\ei SgO clllseti. i* tlo( S',1. L? ?ti\ ..f the effect of his vote, but Is nil In genious and deceptive device to foster the desperate cause of the proponent*. The Act is unprecedented in any other state. lurks financial vi sion and economic soundness, and I* dangerous to the perpetuity of the State's good name. (1) The proponents of ships and terminals tell the people that either North Carolina Is wise and all the other state* foolish, or that all the other states ure wise and North Carolina foolish. This statement Is not substantiated by the facts, nor can It be. The peo ple should be Informed that the bonded Indebtedness of North Carolina, already issued and authorized. Is $105,000,000 and Is greater than any other stale In the Union, except New York; that the taxable wealth of one city In the State of Now YorkTs many times greater than the whole State of North Carolina; ihpt this *10"S.000.W(5or bonds docV nol Include any of the bondR Issued by counties, cities, town*, and school and road districts, nor the $10,000,000 authorized by the State for the Lost Provinces' rail road. The people should know what States have issued bonds for running ships and building ter minals. and that ths Btsti M Georgia has recently rejected the same kind of proposition for ter minals. They should know how many bonds have been Issued by the state governments of Connec ticut, New York. Pennsylvania, Maryland, Virginia. Georgia, Beuth Carolina, ? Florida iuul? llu*. other 48 states for state-owned ships and terminsls. The fact Is that comparatively few have con structed terminals, none launched into the shipping business, and would not afte r~Th r> ? \ prrtonr^oT the Federsl Government with a loss approximating $50,000,000 tnnually, and those which have 1 Issued bonds for terminals have *bullded at a definite location where there arc termini of many converging rail lines bringing in creasing tonnage for water trans portation, and not to bolster a de clining water traffic. These facil ities have been builded and oper ated almost exclusively by muni cipalities, rail carriers and pri vate companies. Surplus UwoniM Deficit (2) At the i r? 2 :i regular pr ? slon, In a special message, the General Assembly wan informed that there was In the State Trean ury a surplus of 92,500,000 and that they ought to appropriate 12 ,000,000 to build Home termin al* and run some ship*. A State Ship and . Waterway Commission was appointed to study I lie econ omy of the suggestion, to employ transportation experts to make n survey of the traffic field, and to report to a regular or special ses sion their findings of fact and their conclusions. At the special session when the $2,500,000 nur plus had faded into a deficit of about $6,000,000, this Commls sIod mad" their report, recom mending $8,500,000 for the en terprise Instead of $2,000,000. with no estimate as to th?- amount to be expended at Wilmington, South port, New Bern and other locations to care for the com m?*rp.e, with no suggestion a* to the amount of tonnage for water transportation that could be reas onably expected, with no figures aa to the probable cost of opera tion, maintenance and Insurance of the ships or terminals at any location suggested, with no esti mate as to the revenue that mlKht be ressonably anticipated, and with no estimate of the number of ships and tho probable revenue to be obtained from same. They just recommended $8,600,000 to be spent by a I'ort Commission of unlearned and Inexperienced men In water transportation In build ing terminals and buying ships wherever they please, with no re quirement that Investments be made so as to pay cost of opera- I lion, maintenance, interest and etnkfng fund and with no deflnlt* tangible promise of a freight sav- , in to any community exempt some poaalble local benefit at the water points which would not be suffi cient to pay the salary and the expenses of the Port Commission. No Bound busln<KN man, no com inunlty, no state and no nation qver Invested a dollar In an en- 1 ?jrprls? w'th such meager facts and Intangible promises.. (8) Borne states have Invest-, ed in terminals at designated lo- , cations, but no state In ships, and where a state has made an Invest - ' ment In terminal* it hss bepn at i a point of Increasing tonnage de mand for water transportation. , EL DAI.LO CIGARS 8ol<l by leading QROCER8 AND PHARMACIES D. R. MORGAN A CO. WIIOUOIAI.fi OHOCKHH rfeoae MO II*" '"7'ion -|Kna(. ,1 "f C,.?l -I, will. J. "?? p.obahi.- com ?.f ?Maintenance and Income iiL,,,..! ? I | n n i ,. ... imrtatlun hi.. flails, ?in J eonu.l. ... ?lrivJf ' "il? flat. Hi.- ar, ??kill l.j F|Hinsur Hi., im.j.ri .1 M. It* ' <1. ?Ui.al ,1 |,, the I or! Cimimlftnlnu wliii I'lwttisf- a, . rci ill, One Factor OverliNikctl ?..?V Th', power ??' ?l. l. riiilii " terminal chart, ?? l? v. si,.| ... lull 1 Huh ?lull, and ;,n nrlli.;, |, , b, '"ra ,!'l" i'?iiiiiil?Kl..n 1., r, . ,111c.. the ru|,? f ; MIIII.-H at ih, Su,? h i, 7' |?T|,. Thl, fn'pi ,-.V ?\ct of and that the im?w.? of ninkluu Interstate ral.> und i -llr" rvUln" nr liii ^ 1 1 r . f"r rr.-lulit transportation ?? '?fed In II,.. ln?.TBi?-,?. ronmerc. 1 onimhwluii. Thu I III,, siat,* i iiiLortim. d l.i sponsor n? n?LCw to an <"? ""i-d. '?? ?n Paw =? or ih? r,.|i,,ii or I ho Mat,. Ship inn! \\al.iu C oiiimlmluti. N. w II. tii ?lr?rs',, Pertain terminal |lrnvlu' *???.? win buna V ? ?"Inalx thereon, ami Mai!,. 4t; Wilmington nfler* a nil,, with Hi. ?Illi Illation thai the Slat" 'V, build an<l "I'.-rnto terminals ih.-r. ,? e.maSIS' rs"TJIar, r?, Xe"U'."J? b" ?< eilh. r IU??? . I LD? antotjm yf t"iin I" - ?ndth* |Wai',"r '""""POflalloiT and the probable revenue ihat may be anticipated, but th,. |,.' perienc.-d I .? t (??? 'r"V "Mend at II,,..,. locallun. wliat. vt It I'leawn. If t|?. v, ,, profitable. and a failure, the Stati m...t iltljei continue to o,m ."t,. the- terminals with a cmuinuUtt and accu initiating loss for the tat payers to liquidate. or it must Kacrlflce tho unwise investment to the cities and towns who are tin der no binding obligation to make the ships or terminals self-sus taining. The tax payers of rh. ? tate have ail to lose and nothing ? w4t44t~ f-h-r-m- rltb ? ,1 towns have all t? s.|? in* to lose. They SUke notblni: nnn J," ,nv WVera- f* r.,,11. , nn<l ln ran.' of fnilm.. ?,?n,i -IIl'h. I' ?!ll r " t'T", d *lth (Tie lnveNinienl iiiaijo Ily' tl, ?State thereon. The state j., placed In poBlllon of lielnis di Ibroned of Ita enviable repmatlon ror sound political economics and monuTr *. COIM nuinlstic schemes such as North Dakota with a state creanmry los ing its entire capital stock in 12 months, with a state Hour mill that lo?t 250 per cent of its cap ital in the brief period of its oi? ? ration (loading the deQcit en the tax payers), and with a larger state flour mill, cost Ins $2.I?oo, 000 which from the beginning of Its operation lost $50,000 tier month. Safeguards Ono Needed There should bo safeguards In the bill to prevent the loss of the Stale's investment and the tax payers' money. ( 1 ) The bill should have pro vided that the oltles and towns who want terminals and ship.; from State aid. should file appli cation therefor. stating their needs with an estimate of rnsi coupled with ? a binding agree ment to protect the State avaln-t annual loss by leasing the ter minals and ships, and to operate the facilities with their own des ignated municipal commission nt a sufficient rental at least to rov er operation, maintenance. Inter est and sinking fund. This plan (a) would safeguard the State Investment and the tax payers taxes; (h) would create Incentive to support them with traffic and operate them ^eom?mlei?|?y ; <?? would be a test of faith and con mience In the Income producing P?W.ur ?.f lho. "h,r>8 an(1 terminals at the location and to support and solicit business for them: (d? would cause conservatism in de niand and the avoidance of waste ful expenditure; <e, would lm part no Ill-will between the cities WhJ\rnnlr<l "h,p" and terminals and those who did not; < f ? would be fair to all and Impartial to none, and relieve (be State auth? or me. and any commlMslon of th. state from a suspicion of partial ity and of preferring one localltv to another in locating terminals, running ships and soliciting pa tronage for them; fg) and of par amount Importance would obvinie the necessity of providing new NKW FALL Stein Block AXD Society Brand Suits Arriving. Mafc* joiir Mtw llon now. D. Walter Harris The City Tailor and Clothier Completing Bust of John D. Joi- I>a\ ul*on. fnn.oun American Rculptor, is rom|>letfn*r. in htii Pari* Mud.o. (his hunt of John P. Rockefeller. The oil inaynut* |>o?eU fur him In FluiIJa last winter. ami Increased Stnte taxes for th? 1 ?)|ii<ratl?ii and maintenance of ter minals and ships. utid fo? t S* ? in ler?*H? .charge' and .? iukii.:, fund. . on bonds iiuthofiKtd for i*?irt ter- , initials und boats. In.Jluu: ? Ouuilori .. ~o? Uio ? ?n> I1 safe. urn conomical and d;iux> ron.s dlatt of the l?i I T. ? v?-h th??s>- who an- convinced that port terminals! built and ships run hy tin* State i will be beiwficlal j.? tin* entire Stat*', should at least be Interest-, ??d in and desire tin* Slnti '? pro-; ten ion from |ioskI1iI? mtIoiis Ins* I and -comrdicnl Ion in it* Invent- j ments; should demand that there | Blial! b<' no consequent incr?'.w in i taxes to meet resultant d'Hfiis; should not wish to compromise ? thi? uood n?m?' of tli" State hy launching into" speculations with out promise atyl with a paucity of fart:? and prol?eoi|iire ilia t is not ? "Illy Jil.i. 'b.ir- mil.V-Y-' ii' nloii in the Staff 's nr Nation's history: i and would do well to vote the bal lot "Against ports Development" and r?<iu<'^t the next Legislature ? " consider another nrounni noon *a linger, and sounder economic baslr-. All that you cm say of the present bill is that it appropriates ' $8,500,000 for an Inexperienced I'ort Commission to buiid xnni< terminals soim -where. and to run some ships somewhere. VETKUVNS (,l\ KN KOYAI, ItKCKlTIOlV Charlotte. Sept. 17. ? Tlio Cnlt cd C'onfi derate Veterans of North Carolina received a royal recep tion at Charlotte yesterday with the annual encampment in session MIC XI CO M.\KI\<; KFKOItT TO S.WK ITS 4 IIILIHIKV Mexico city. Sept. 17 ? More than r.0 per cent of the children horn In Mexico never rcueh their firct hirlhdny. the federal department of health has an nounced in a bullet i a with which It opened a child saving cam paign. "Thousands of these little ones die liecaiixo of ini piop r alimentation," the depart ment assertfl. KKVIV.Mi is roSTI'ON'KI) Revival w rvlceg which were to have tieen held at Hiills Creek .Church l hi* wt'ttli hy K? v.- W T. rhlpps have been postponed until ne*t week when services will he iiHd on Sunday at 11. 3. and 7:30 o c lor k and during the week at 3 and 7:30. _ T Sets Face The plrls hove to go none to keep up with Madamo Aldn, Venetian opera when It corned to clothes. Just look at tho cor t wheel hat and the poJa:...i r jit sho Is retorting while on' a tot the Udo. near Venlco. l.l<;M r IMH'KKT WKI?XKSI>\V IN TIIK ItKt ollhKlt'H <<M KT .Marvin Russell, pod of Miles I' irti ll ofl'rovldence towiiMhip. drew a fine of S10 and costs for xpe.'dlnK an. I Klwood Ilarkley, 210 Weal Fearing street, a flno of $f* and co/tiK for operating a motor vehicle with op??n cutout. Collins J?wther, colored, drunk, got tho usual fine of $? and costs; while Kdmurnl (Jrandy. alio colored, was let off with the costs for falling to dismount In passing a p^dent rain. With the exception of owe ?s?* resulting tn a verdict of not guil ty. I ho foregoing were the only cases before Trial Justice Hpence in W ilncaday's session of police court. That's what you get when you buy your Gas, Oil and Tires from Central Filling Station "OAD AND MATTHEWS STREETS Insulin* Diet Children'of Kansas City are helping the doctors keep seven-year-old Alice lless nllve. They are contributing their pennies to * fund that Is piy Ing for tho Insulin treat nv.-r m All.o must take dally An lohK as the dally dose u administered. Alice runs and plays like other little -clrls. But If one Is mlsced, she begins tc pins away. f>h? Is suffering from diube!?a Featuring Cuffs NOVEL collnrn and cuffs of white llficn rrubclllnhcd with KiiKlNh eyelet embroidery are the dla ;lnrllvo fcoturc on this blue twill frock. Tho ruffs fiartkularly are tmch more generous and or nute than nra usually find thla a?tison when (very form of trimming lion Iwcn re duced to Ita lowest (Kwslblf trrm. An other noticeable fouturu la the cloa ln? which la mu tailored and yet ?*? different. M. (?. Morrisi'llr H Company F U If IN I T II |{ K l-ASII, If Von Have It CKKIIIT. If Vi.ll Willi I II. Everyirsn's vest merits SIXTY mini) AHTiCI.K \notli<r Kind of l orci^n Bond In a |? r ?'????<! in k urtn*l?> ??ti " th?- 'InvPKiiiu'iit rutin# ??f f?>r elisn K??v??rn niftit tto titl ?? li w:ik Btatril thai. th<- principal thing to !?i' ron - HldiTfil w:i:? tlir I'Pi'liit 1 hf ? K o v v r n ni?iii mni-erncd. OEOftGK t. atone As a rule the "" only security the holder of sto h a bond bus is the pledged word of the borrow ing government. TTiTiTlTTi I ways true of old established govern* nii'nt* with a long record of fl niMM ial Ktdv- in v Tin r.. :ir, however, sunte foreign h >nds which are specifically secured by li 'n on certain revenue? either frotn customs or internal taxea of :oiw -ktwrt-* ?orJwannt?rrr:? ht ?or?r' cases representative* of the hank ers who make the loan In the first instance have direct Mip' r \ isli.h ' of ? lie "?TrdlerlTTm TfT llkesi' revenues. The recently Issued II a near Ian ? iial> l.s mi i Simple. Tlii* lu.tu h secured hy a first charge on the revenues from the customs, the *uitar tax and the tohaeen mono poly and I hose revenues as col lected are paid Into a ?|M*iul ue , count controlled by a Commis sioner Central appointed hy the League of Nations who represents the bondholders. Whcncv r any such arrangement is made it is possible to compare tho total re ceipts from tlio pledged revenues with the interest requirement!! of the loan and In In this way judge of the margin of safety in much t-he Humv fashion as a bond-1 l?ol?l*-r scan* the- -earn in*- Ele ment of a corporation, in the se curities of which ho Is interested. Provisions or this Kin. I ail.l To lie TTrtraeilvcnes^ of a for ign bond whenever there Is any ronson to regard the risk as unusually great. Certain Central and South American bonds have b.vn mar keted successfully because pay ment was secifred ~liy"~some suciF" pledge. More rarely a foreign bond Issue, is guaranteed by other governments. The most notable instance of this kind is tho Austrian seven !?? r cent loan put out In 1923. Tills Issue Is not only secured by pledge of CiTtaiJi. undo tin ;md in I < rn.il ren- _ nue receipts, but Is guaranteed in specified proportions by the prin cipal governments of Kurope. Obviously such a guarantee adds Itreat ly to the marketability of a THY! ign government obligation. There. are also certain foreign bonds, not government issues, but bonds of railroads, utility or in ti ust rial companies which have been sold in this country because. ?! the ifturuul u of their own, government. They vary greatly. In merit. Two bonds listed on j on the Nyw York Stock Kxclwinge of very lllgli investment rating Helps Gerard CopynuM Harris A ICwintr tnuton l? <*.. of the I H'liiut tutlc N.i 1 1< ?mil Cam J ixiiyn Committee in New York Shr In .inline. formci AiiilMHKKlor Jamro \V (ii>rnri%. hi iuImIiik [uiidn to con ilurt tllf I'uvls Itiyun cnmpalcn J Mr* I l.i rri* i* the Hint woman ever t?? hoUl tlilM olttcv. \MKHIC.W SCIKXTINTM MAKK MTILA.MJK FILMS (?othenhiirj;. Rwotlen. Sept. 17 1 ? American1 KclonilHtH have Jus! [ ink 11 the lirst film, ever obtained . of tlit? iulKralioh lemmings, fooled isk?> animals, one of the most unique phenomena of tin* animal I w?*? U4i - . . l)r. Clyde K. Fisher. a Curator ( of t |V? ? Ajm-rlcan Museum of Nn lural HUtory. and Carveth Wells, now lior ? from a recent trip to, l.aplnnilt say that a curious and | absolutely unique film is that of | she lemmings. Thene rodent* set in to multiply In teeming num- | her* ni TFri-KuTar intervals, ami ' are now more multitudinous than they have been for IS yvurs. A I wanderer above the tree line In j lo-lonu i? Ibis classification. They are obligations of th* Cana dian North"rn Hallway owned by lb" Km-" rnn.'Mt! o| I IlllllllJl WlllPlt guarantees the bonds by endorse ment. Their credit depends, then, not upon the railway but upon that of the Canadian govern U-U4 . 4 , t' t'-iu nature niiia' : be Judged by the stumllng th* 1 guarantor. See New 1925 Buick Closed Models Wry attractive appe;ira:icc and flnifih, with powerful valve-in-hcad motor, and four-wheel brakes, reyular eq uijiwent, no extra eharye. "When hitter automobiles u re built flnielc will build them." ASK FOR DEMONSTRATION. TIDE-WATER BUICK CO. SHOW ROOM AND SERVICE STATION Ncxl Camden Bridge DRIVE IN Reliable Ford Service Auto & Gas Engine Works, Inc. 107 N. Watrr St. PHONE 326 Lapplaud mountains may audi denly mo (hi- ground cox-red M i hi in for miles. They com^ ,? the millions. swimming rivefi and climhin* over mountH rid?ces. Then either for lat?k fj food or In conflict with natuffl ? neiii It*;*, they pi-rUh in manses. I Tin* Americana declared thai they had missed nothing, natural interest iti I ipliM They even took spccial filmy oj the mosquitoes.. I'KXNIKS A PLHNTY I?onilon. fH'iit. 1 - Seventufll million |ti>ruu<s packed In 14.0m huKs. weighing lf.S tons au worth Just over 70,83.1 pouM are stornl ill a ? "liar in Wewtmtfc ster. Tli.-y an lh?< property of IIM (J as Light ami Coke CompMM which collects them from p*nH In-t lie-slot meter*. Six hnndjlj million pen nle* are collected ? M ery year from in- tern owned* Men's i Two Pants Suits, wide or regular punts, 33 to Mi, $25 to $37.50 T hr rxlrn / mir niraitt 'J iloiililr i rear. Men's! Young Mi ll's on? pant* Suits, 32 to 52, $16775 to $? ? - Art- lo%V -ttrt-ijj? l?ti95r' Nfi* KM. I, ' rilK.I.SONvi HATS 'i for lllrn of nil ages. Coun try's l?est make .'J $3.00, $3.50, 81.00, 1 81.50 1? ??.oo Boys' Dept. ? Buys' l>n-ss a nils, two |>unts, holt ami liuekle, 7 to 20 812.50 to 817.50 Hoys" .School Suits, HM pants, 6 to 18 i 86.75 to 811.45 i . i Boys' Hats ami Cup?, big assortment, 75c to $2.95. Ituys' Sweaters ; Bain Sets; Umbrellas, llnioh Suits; Stockings; Shirts; Blouses; Ties; Collars, and everything /or M anil the Boy*. T. T. Turner & Co. Tlife Hlorc for llml and (lie Uo; For Sale 5 H. P. GKNF.ItAI, ELECTRIC M 0 T O H Price $70. Apply Ruhincaa Offici" -The- ] Advance ECZEMAS? ?J;"?;. w* with** ou*?*ftTKF.? Jrt^ Kf1 ..DivA"K /^TL_ (Hunt aSalva ?ndO?Wp),lal|inI mT" ?h? treatment of Iteh, I i|ilil.%|lT Rlf?w?nalT?ttWMo(k*rlteh- rlf / ??? afcla Trr thla * *M 1 ilMrrltk. TUB AI'OTIIKCARY flHOP KHaalwrth dtjr, If. O. Money of No Value "Lift- had no plcnaurca for m Although 1 had plenty of mon? It wna of no value. aa my uton ?*h altnoat constantly ilintri>wM> ?m*. I lout f*||h in nil doctoi and imdlclnr TulkJn* with m druggiat about my caae h? ad viae m? to try Mayr'a Wondcj-ful R*n ,ody. I am now enjoying III 'again." It In a elmplc, liarml?w preparation that removea the n tarrhal tinirua from t ho Inteatlui tract nnd *11* >" tho liflahiraat?c ; which cauaea practically all Ktoir .ach, liver and Intvallnal ailnienti .Including pppcndlcltla. One do.i will confine** or money rrfundad 'at aU drufglata. ?<h
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 17, 1924, edition 1
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