JTOAY, MAT
5HE WAYNESVILLE MOUNT AINEEB
-, n in i -
Debt On American Homes
Reaches New High Record
Barber who Knows His Brushes
By ALEXANDER R. GEORGE
WASHINGTON The nation's
debt on homes has reached an all
time high. A record increase in
the amount of residential loans is
record high marks.
Alarm Expressed
Government officials, state bank
commissioners and others have
voiced concern that many home
accompanied by a big advance iniDuyprs may be unable to carry
the average size of home mort- neavy debts on houses bought at
gages. I inflated prices. They say that, ow-j
The Federal Home Loan Bank j jng to tne housing shortage. Ihou-j
Administration estimates that the sanjs Df veterans and others have!
home mortgage debt is now well j purchased homes which they prob-1
over $23,000,000,000, compared with ably cannot afford. i
a 1930 high of $21,259,000,000 fol-, John H Fahpy conimissloIH.r of
lowing the building boon. At the L()an Bak Ad.
close of 1945 it vsas $19,991 00.:mjnjstration has warned of (he !
These figures do not include farm danger o repetiljon of C0IUj.;
home mortgages tions which caused the mortgag"
panic of the thirties, with its at-
CIIANGE CHARTED
Increase in size of average mort
faife on non-farm homes since pre
war days:
Average Size
Year .Mortgage
1939 . $2,722
1941 - 2,906
1943 :f.osi
1945 3,440
1946 4.206
tendant obliteration of thousands
of lending institutions and the loss
of billions of dollars to people of
small means."
Housing authorities, however,
point out there are some favorable
factors in the home mortgage sit
uation now which did not exist back
in the ' boom'' twenties.
Long Term Loans
One outstanding improvement is
The active market fur real estate i a great increase in the number ol
l ' "
4 "&sy l
Al' Ni v. sfeatures
WATKHTOWN. Mass Barber
Dominic A. Mercurio is not the
t pe to talk your ear off. He is too
laLUi to get back to the pictures
he paints in his barbershop. between
sh;a r.
A f 1 1 ! lit-n I
at inflated prices, the construction
of new homes and guaranteed GI
loans resulted in making 1940 the
biggest ear in the history of home
financing. Home mortgages placed
during the rar totaled about $8,
000,000.000. almost 40 per cent
more than Die previous peak in
1928.
The average size of new mort
gages i $20,000 ami under' recorded
on non-farm homes increased from
$2,722 in 193!) to S4.20U in 1946. a
rise of 55 per cent. The biggest
yearly advance was from 1945 to
1946 when home puces in many
sections of the countrv were at
long-term amortized loans on
houses. An amortized loan provides
for periodic payments which grad
ually reduce the amount of the
loan as well as cover the interest
on it. Many loans in the twenties
were of the call type, payable on
demand of the lender.
Housing officials estimate that
the average amortized loan now
runs for about 20 years, compared
w ith an average of 12 years in 1930
Also, interest rates are lower than
in the pre-depression period.
Another favorable factor in
home buying today is higher in
come levels for many people. De
nt show exhibitor,
Miicinio alwa.vs has a canvas on
an ail table beside the barber's
dun others are stacked around
the tin;, shop, whose walls are lined
wilh completed oils.
11, sometimes holds up a hair
cut to put finishing touches to a
land-cape started "on the spot,"
somewhere in New England.
Customers rarely grumble, he
said, although new ones "seem
surprised."
But the painting barber wouldn't
think of sneaking a few strokes
while a client was muffled in hot
towels. And although he has com
bined art with his trade for 15
years, he said "I've never once got
by brushes mixed."
Mercurio took up barbering to
help pay for a painting course.
Art critics also are impressed by
his painting which sells well. One
of them said: "He's good. And why
not? He hus had a lot of experi
ence wielding a brush."
NOW YOU
TELL ONE!
Eyes Turn To Speedway
CANT 8AS9 A FRAS.
EDITOR WAILS
PARIS, Mo. -(AP) Editor Jack
Blanton of the Monroe County Ap
oeal is lamenting the absence of
sassafras root on the market. The
root brewed into a palatable tea is
a recognized Missouri antidote for
spring fever.
In turning down the requost of
a California woman. Blanton wrote
that "unfortunately sassafras root
no longer comes to the local mar
ket. People seem to have all the
money they need and digging like
other forms of work has gone out
of style. As a result the publics
blood goes unpurified and unsci
entific things like sulfa drugs, peni
cillin, castor oil and voodoo charms
are being used as unsatisfactory
substitutes."
IN SPRING. BURGLARS
THINK OF GARDENS
CHICAGO (AP) Things
stolen this spring in this area
BIRTHS
of a daughter on May 20.
Mr. and Mrs. James Fullbright,
of U aynes ille, announce the birth
i t a -on on May 15.
Mr. and Mrs. Kenneth Rhine
hart, of Hazelwood, announce the
birth of a daughter on May 20.
Your
CLEAN-UP CAMPAIGN
Should Include
WAXING
and
POLISHING
Your
Washing
Greasing
Polishing
FROM 8 A. M. TO 6 P. M.
Reno Puro! Station
Opposite the Courthouse
yv and Mrs. William McCrack-
.. .. .:m t r n O
en. o M uuiesvuie, n. r. u.
nnounce
Mav 15,
Mr. and Mrs. Robert Stamey, of
Waynesville. announce the birth of
a son on May 21.
the birth of a son on
Mr and Mrs Jim Sheehan, of
Maggie, announce the birth of a
daughter on May lb.
Mr and Mrs Clyde Robinson, of
Lake Junaluska, announce the
both of a son on May 18.
Mr. and Mrs. James Barnett, of
Waynesville. R. F. D. No. 2, an
nounce the birth of a son on May
21.
Mi and Mrs. Troy Moore, of
lolt Creek, announce the birth of
son on May 18.
Mr
Cove
a son
and Mrs. Ernest Harrell, of
( reek, announce the birth of
on May 18
Mr and Mrs. John Harrell, of
Cove Creek, announce the birth of
a daughter on May 18.
Mr. and Mrs. Frank James, of
T.eirester. announce the birth of a
son on May 19.
Mr. and Mrs. Bolden Hargrove,
of Waynesville, R. F. D. No. 1, an
nounce the birth of a daughter on
May 21.
Mr. and Mrs. John Caldwell, of
Clyde, R. F. D. No. 1, announce
the birth of a daughter on May 21.
Mr. and Mrs. William Flynn, of
Canton, announce the birth of a
son on May 21.
Mr. and Mrs. Dill Harrison, of
Canton, announce the birth of a
daughter on May 21.
include two sacks of crass seed,
ten lengths of garden hose, eight
lawn mowers two tons of hay
and a canoe.
Mr. and Mrs. Carl Setzer. of
Waynesville. announce the birth of
a daughter on May 21.
BUTCHER'S DISPLAY
IS NOT STUFFY
CARTHAGE, Mo. (API On top
of his meat counter in Hales' mar
ket, Dick Long set up a scale-size
display with a stuffed red squirrel
wearing an apron and a white
butcher's cap with the name
"Dick". The squirrel, stuffed as part
of a taxidermy course Long studied
by mail, holds a knife and sharpen
ing steel and there are other
knives on the meat block with saw
dust on the floor and a background
of tiny refrigerators.
"The hardest part of the dis
play," said Long, with a straight
face, "was finding a left-handed
squirrel. I'm left-handed and I
wanted the display to be lifelike."
Mr. and Mrs. William Kell, of
Canton, announce the birth of a
son on May 19.
Mr, and Mrs. Walter B. Craw
ford, of Canton, announce the birth
partmcnt of Commerce statisticians
estimate the average American
will have an income after taxes of
SI, 097 in 1947 compared with $654
alter taxes in 1929,
Last year and during the war
jears there was a large volume
of loan repayments. Increased in
come enabled many people to pay
off old mortgages entirely.
Mr. and Mrs. Rufus Ratcliff. of
Waynesville, announce the birth of
a son on May 21.
Mr. and Mrs. Charles Watson, of
Waynesville, announce the birth of
a daughter on May 21.
Mr. and Mrs. Marion King, of
Canton, announce the birth of a
son on May 21.
Read Mountaineer Want Ads.
YES SIR!
THAT'S CHEESECAKE
GRAND ISLAND. Neb.-
WILBUR SHAW, president of the Indianapolis Speedway, is shown
in the car he drove to victory in the 500-mile classic in 1939 and 1940.
He also got the checkered flag in 1937. Talking of this year's Me
morial Day race, Shaw says "I fervently hope that speeding will be
confined to the race track. Speed is our business, not yours." A mo
torist has less chance of coming out of a head-on collision at 60 miles
an hour than a race driver of walking away from a glancing crash into
the retaining wall at neariy double tliat, speed. - -
Business License Fees
Return To 1943 Levels
RheaToRJ
District In tf
ice S J
Servi
Donald Rk. . I
Of UJ
ol
"I St
V
V. 11 ln-l
1 01 the v
ug senior
school, has
ner in (,e
Bit, U'U1 anl
wicie ci.nte
date.
"1 1!
1,J be he
The
contest.
open
Lake j
l' Iron
i the d,,tr
oaist Youth
was held at
young pejp!,
churches
ing.
The subjec, dealt
service vmnm Qf 1
church and each J
jynevvilie d
posed of ,h(1 C()Unti(!
"ocRsiin, swain
and Macon.
Chi
State license taxes for several
types of business establishment
are returning to 1943 levels effec
tive June 1. and Fred I. Walston,
tax collector for this district, re
quests that businessmen follow th
new schedule of fees before mak
figuring out a forecast the other
day when he cot some first hand
information. A bolt of lightning
l THE FORCAS Tjy-gEfv
-(AP)
Exciting style note, from a story
sent to the Grand Island Daily In
dependent: ". . , This is the first time the
women bowlers have dressed since
before the war, and revives an old
custom ..."
struck the building, knocking out
the teletype, telephone, and elec
tric lines. And Palmer watched a
ball of fire emerge from a wall
switch two feet from where he
was standing. The metereologist
was shaken but unhurt.
ing application for. 1947-48 licenses.
The. taxes, he explains, were re
duced considerably by the 1943
legislature in view of the shortage
and rationing of consumer goods
such, as autos, radios and gasoline.
When the reduction was passed it
was worded to become invalid on
May 31, 1947.
Although, the rush of applica
tions for licenses has not gotten
under way, several early applicants
have submitted the wartime pay
ments which have had to be re
turned. To avoid more of such in
stances, he announces several of
the pertinent correct fees under
the section of the state license tax
law as follows:
Sec. 119 Automatic machines:
Refrigerators, washing machines,
etc. - $10
Sec. 153 Auto dealers:
In rural areas having population
less than 1,000 - $25
In Waynesville and within one
mile of Waynesville - $75
Persons engaged in seasonal,
temporary, transient or itinerant
sale of used or new. automobiles
shall be liable for a tax in the
amount of $300
Automotive service station:
In Waynesville or within one
BIRTHS IN NATI0V
BEATS DEATHS
WASHINGTON-J
"uiis uirin rate
firing .,. u i
V""" as 'sn as th
during the first A
1947, according lo J
J. 3. )ll) 1. h.ialik ,
111 5
The report, based
tions, sinned that it
were born duriim the
ine number l dead
mated at 388.000. abj
me corresponding w:
SENTENCED IN
vii.uu.ui I K i
woman wlm "danced
ing as her victim
street dying from
faced 18 to 20 years
a muraer convictiod
testified that Lillie .N'J
away gleefully as the
Baker, also a Negro.
the sidewalk across
headquarters.
mile of Waynesville
Automotive equipmea
dealers at wholes!
In Waynesville
mile of Waynesville
Sec. 117 Bicycle deali
In Waynesville oil
mile of Waynesville
Sec. 144 Bottled carM
$5.
Soda fountains:
On each carbonata
$10.
Sec. 153' 2 Motorcycle
In Waynesville on
mile of Waynesville
Sec. 147 Musical merf
Radios, records, via
etc.
Sec. 126 '. 2 Tourist hoi
Having five rooms
Having more than fi
room
THIS WEATHERMAN'S
REPORT WAS HOT
FREDERICK, Md. (AP)
Weatherman Victor Palmer was
!! 1 1 We have in Stock 1
f II Outside and Inside Paints 1;
- Tl Varnish Enamel I
..XM' Linseed Oil Y
W ' 1 WEED-NO-MORE . j;!
ii '., Clear those undesirable weeds and grasses from around 1
U 1 your home with WEED-NO-MORE
5 I li i I e can suPPy au yur needs for cleaning 1
I 1 I' ' Hoes Rakes Grass Shears Brocim Rakes f
"f'' r'f'' See Us For Whatever You Need
&lk Parian's Hardware
j ' I "t ll Mil 1
: - ...
THE OLD HOME TOWN
IttMltlPtlM
- By STANLEY
( ONECHMoeL) yJf. ' I
) ANP ILU BE l I V
awaxp
hj lux?
SCOH'S SCRAP BOOK
By HJ. SCOTT
PUZCO
PELICACY
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Js 7 9Qil Price. Spec iar
Phone 500
Hyatt C(
Up the Railroad From the Depot