Newspapers / The Roxboro Courier (Roxboro, … / Sept. 17, 1936, edition 1 / Page 3
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TREASURY TO HOLD BILLION IN RESERVE thing Unfor«bfepn,” Morgenthau Says. Washington, Sept. Adminis tration concern over conditions a broad was emphasized today by an nouncement from Secretary Mor genthau that the treasury will keep a cash balance of $1,000,000,000 as “insurance” against “anything un foreseen,” Because of “times and conditions” abroad, Morgepthau said, the gov ernment will borrow $400,000,000 this month rather than cut into the treasury’s big working balance for current expenses. The announcement, made to news men gathered around Morgenthau’s desk in a specially summoned press conference, was something of a surprise to financial quarters in view of President Roosevelt’s re cent statement that the cash bal ance; would be curtailed. Morgenthau said it cost about $2,000,000 a year in interest to keep such a cash balance, but that it was “a very desirable thing to do” be cause such a reserve; “is the safest insurance we can carry for the American people should anything unforeseen occur.” The $400,000,000 of new money will be borrowed, Morgenthau said, at the same time the treasury re finances a maturing $514,000,000 note issue September 15. To Offer NeW Obligations Regarding the maturity, Morgen thau said new obligations would be offered in exchange for the notes. He did not disclose the interest rate or other details of the new issue. Announcement of these details is expected September 8. President Roosevelt’s forecast of a curtailed cash balance came in his revised budget summary this week, when he estimated that net new borrowing this fiscal year would ag gregate $750,000,000. If this figure holds, the Septem ber financing will constitute more than half, cutting demands on the money market for new funds dur ing the remainder of the fiscal year to $350,000,000. In his budget summary, the Presi dent announced the treasury’s working balance would be curtail ed by $1,100,000,000 during the year. He suggested that instead of borrowing new money, the govern ment would use some of its cash on hand to meet the year’s expen ditures. Morgenthau’s announcement to day treasury officials said, was not in conflict with the chief executive’s plan, because for some time the treasury balance has been running around $2,000,000,000, from which $1,100,000,000 would be used and still leave almost a billion. Even a working balance of $1,000,- 000,000 they pointed out, is far more cash than the treasury kept on hand before the big financing operations of the new deal. Morgenthau explained today that already this fiscal year about SBOO,- 000,000 has bcpn taken from the working balance. Treasury state ments showed it had gone to cover the $338,000,000 deficit so far run up, and to meet more than $400,- 000,000 of bonus bond redemptions. Balance About $1,300,000,000 This leaves only $300,000,000 more to be used between now and next June 30, under the President’s curtailment plan. Exclusive of funds which are (questions that are asked about banking! f t f of * THIS question was asked us recently by a man who came in to cash his pay check. When we suggested that he ought to have a checking account he replied, “What are the advantages?*’ This is what we told him: — “Your money in a checking account is kept in a safe place. It saves time and steps in pay ing bills. You can write a check when you wish—during or outside of business hours. You can send your check anywhere, safely, conveniently and economically. You have a legal receipt for your files in the form of an endorsed check. You get an accurate state ment of your account from the bank.” A checking account in this bank adds to the speed, safety and accuracy of the transactions making up the business life of this commu nity. If you do not have a checking account now, we invite you to open one at this bank. The fieS//cL 45.000 //_. /ig)l MAXIMUM ((Sft\ so\l _ m lifSM Peopes Bank Roxboro, N. C Health Department Issues Birth List Whit« Births Mr. and Mrs. Claude Whitfield, Hurdle Mills, girl; Mr. and Mrs. Clyde Cates, Hurdle Mills, girl; Mr. and Mrs. Coy Frankin Terry, Hurdle Mills, girl; Mr. and Mrs. Willie Eu gene Hester, Hurdle Mills, girl; Mr. and Mrs. Daniel Allen Clayton, Hurdle Mills, boy; Mr. and Mrs. Charlie Albert Hall, Hifrdle Mils, boy; Mr. and Mrs. J. E. Hester, Hurdle Mills, girl; Mr. and Mrs. Charlie Bird, Roxboro, girl; Mr. and Mrs. W. R. Kelly, Roxboro, girl; Mr. and Mrs. J. R. Loyd, Ca- Vel, girl; Mr. and Mrs. Ivy Fox, Roxboro, boy; Mr. and Mrs. Lenzie Long, Roxboro, girl; Mr. and Mrs. Stanley Reeves, Jalong, girl; Mr. and Mrs. Elmo Bowen, Roxboro, boy; Mr. and Mrs. Earl Gravette, Ca-Vel, boy; Mr. and Mrs. E. T. Dixon, Jalong, boy; Mr. and Mrs. Charlie Chambers, Timberlake, boy; Mr. and Mrs. Bennie Garrett, Tim berlake, girl; Mr. and Mrs. Allen Rogers, Timberlake, boy; Mr. and Mrs. Briggs, Woodsdale, boy; Mr. and Mrs. Ivy Oliver, Woodsdale, boy; Mr. and Mrs. Grov er Long, Roxboro, girl; Mr. and Mrs. Evt;rette Sloan, Roxboro, girl; Mr. and Mrs. Hubert R. Gentry, Rox boro, girl; Mr. and Mrs. Wallace Henry Harris, Roxboro, boy; Mr. and Mrs. Raeford Moore, Roxboro, boy; Mr. and Mrs. E. A. Bowes, Roxboro, boy; Mr. and Mrs. R. W. Watson, Roxboro, boy; Mr. and L. C. Stewart, Indian, Woodsdale, girl; Mr. and Mrs. R. L. Humphries, Roxboro, boy; Mr. and Mrs. Georgia Bell Vicks, Semora, girl; Mr. and Mrs. W. E. Mooney, Timberlake, specifically allocated, the balance is now about $1,300,000,000, and the $400,000,000 of new money is ex pected to bolster it to some extent. The offering for new cash in mid-September will be next to the smallest sindq Morgenthau has as sumed office. The smallest was $380,000,000 in December, 1933. With knowledge of the ambunt of the September financing, finan cial leaders turned at once to specu lation as to its terms. Some thought the new notes would be offered, possibly bearing a slightly lower in terest than the 1.5 percent paid on the maturing issue. Thebe was no treasury support for this, however. PROFESSIONAL CARDS * * * ***** * DR. ROBERT E. LONG • * Dentist * * Wilburn & Satterfield Bldg. * * Main St. Roxboro, N. C. * *•* ***** * * * * * * * • S. F. NICKS, JR. • • Attorney-at-Law • • Thomas and Carver Bldg. * • Main St. Roxboro, N. C. * • * * * * * * Dr. R. J. Pearce OPTOMETRIST EYES EXAMINED— —GLASSES FITTED Thomas & Carver Bldg. Roxboro, N. C. MONDAYS ONLY 10 A. M. To 5 P. M. PERSON COUNTY TIMES ROXBORO, N. C. boy. Mr. and Mrs. Henry Oliver, Woodsdale, girl. Negro Births John H. Brown and wife, Hurdle Mills, boy; Percy Clayton and wife, Roxboro, ;A. C. Dixon and wife, Semora, boy; George Woody and wife, Woodsdale, boy; Clafence Canada and wife, Roxboro, boy; Sam Winstead and wife, Leasburg, girl; Gaither Evans and wife, Rox boro, girl; Robert Thomas and wife, Roxboro, girl; Haveal Smith and wife, Roxboro, boy; Pete Dixon and I wife, Leasburg, girl; Willie Rich-1 mond and wif\“, Roxboro, girl; Charles Austin Graves and wife, Roxboro, boy; William Bumpass and wife, Roxboro, boy; Earlie Harrison, and wife, Roxboro, boy; William Harris and wife, Roxboro, girl; Ar thur Cameron and wife, Timberlake, girl; Willie Holeman and wife, Tim berlake, girl; Willie Williams and wifq, Roxboro, boy; Marvin Harn ett and wife, Woodsdale, boy; Lee Jennings and wife, Roxboro, boy; Bennie Thomas and wife, Roxboro, girl; Huley Mitchell and wife, Rox boro, girl; William Lyon and wife, Stem, girl; Teddie Raglon and wife, Timberlake, boy. DON’T be a FOOL I Pay Cash and Save! We Have Adopted The Cut-Rate Plan Beginning TODAY we are establishing a Cut-Rate business, with prices slashed in every department. Don't be a fool, pay cash and save the differ ence! Low prices and good quality goods will be our slogan from now on .. . 100 percent Penn Oil 2 gals 85c 1 qt. sealed cans 15c Fan Belts Ford A 25c Chevrolet 25c V - 8 40c Tube Patches ... 10c Coils Ford A $1.35 Chevrolet $135 Mufflers Ford A $1.95 Axels Chevrolet $1.19 Rebuilt Generators Ford T Ex $2.95 Ford A Ex. ... $3.25 Chevrolet $3 25 (These Generators are as good as new) Tom’s Battery Co. THE CUT RATE STORE Telephone 26 RARE MENTAL DISORDER FOUND Liverpool, England— A very rare mental disorder, called by phychi atrists “folie a deux”, or “madness of two,” has been discovered in a local prison. This form of insanity affects two persons living together, and in the present instance concem ,ed a younger woman, suffering from religious delusions, who fin ally drove her constant companion insane on the same subject. The two were arrested for shoplifting. Successful People Save Money! SEE C. B. WOOD Local Representative of Investors Syndicate FISK TIRES AND TUBES 20 Percent Off List WAS NOW 4.40x21 Tire List $5.50 $4.40 4.75x19 Tire List $6.40 $5.00 5.25x18 Tire List $7.60 $6.10 5.50x17 Tire List $8.35 $6.70 Guaranteed. We are listing only a few of our tire prices but the 20 per cent reduction will be in ef fect on our entire stock of tires and tubes. REPUBLICAN CONTEST CLOSING Chicago, Illinois Entries close this week for the SSOO first, S3OO second and S2OO third prizes offer ed by the Republican National Committee for the three best 200-1 BSee New Anchor Kolstoker now on display at AUTOMATIC HEAT CENTRAL SERVICE j. AT ITS BEST PODDADATMN Dlatinctjvc «nd attractive cablnat vUKI Ullil 111/IN design outstanding In mechanical efficiency. The luxury and comfort _____ **f a clean, healthy, even tempera- ' ANCHOR KOLSTOKER ! tare, automatically provided and controlled. Better heat at lower INFORMATION OIAMVOIVpN, •oiL Eaiity Installed in any hcatinf plant now 1* service. THURSDAY, SEPTEMBER 17TH, J 936 word letters, or less, on the topic “Why I am for Roosevelt”. The judge is Professor Thomas Vernon Smith of this city, and wide con jecture prevails as to just what use the Republicans intend to make off the letters after they have awarded SIOOO to the winners. Batteries 13 Plate ... $3.95 Ex. 12 Months Guarantee 15 Plate ... $5.45 Ex. 18 Months Guarantee 17 Plate ... $6.95 Ex. I 18 Months Guarantee Simoniz Wax i and Cleaner Simoniz Wax ... 44c Simoniz Cleaner 44c Polish Duco No. 7, i/2 pt. 30c Pints 58c Bulbs Ford T H’dlight 15c Ford A H’dlight 15c Chevrolet Head light 15c All Tail Lights .. 8c House Bulbs General Electric 40-W 10c
The Roxboro Courier (Roxboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 17, 1936, edition 1
3
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