Newspapers / Shelby Daily Star (Shelby, … / June 26, 1931, edition 1 / Page 4
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The Cleveland Star SHELBY, N. C. MONDAY — WEDNESDAY — FRIDAY By Mall, per rear 87 Carrier, par year SUBSCRIPTION PRICE -- »J ou THE STAR PUBLISHING COMPANY. INC. LEE 8. WEATHERS -President end tumoi & ERNEST HOST RENN U DRUM 8 DATL „ Secretary and foreman .......... News aaitoi Advertising Manager Entered as second class matter January l. i»05. at the postotnce at Shelby. North Carolina, under the Act ol Congress, March i. mvu We wish to call your attention to the fact that It is and has Deen our custom to charge five cents per Une for resolutions of respect, cards of thanks and obituary notices, after one death notice nas been published. This will be strictly adhered to. FRIDAY, JUNE 26, 1031 TWINKLES The latest addenda to that old crack alxtut love being blind: The divorce courts furnish all the spectacles needed. “Business,” say visitors, “is better in Bhelby than we find anywhere else. Remember that and boot the blues out the back door. Ambitious golfers in the Carolinas are finding it more, and more difficult to get untangled from the Webbs they run into on championship golf courses. Says a political observer who keeps a close eye on na tional affairs: “If Roosevelt isn't tlfe Democratic nominee in 1932, it will be Newton Baker.” Both arc able men. Just, think how many of us average individuals would b* enthused if we could do rr did Mr. Hoover and propose that we call off all payments on debts for a year or so? A confirmed pessimist is the fellow who thought the stock market gain following the Hoover moratorium propos al was nothing but a new trick to catch the few lambs that haye not been clipped. “More Hydro-Electric Power For North Carolina Pre dicted By Engineers," informs a headline. And that must sound interesting to The News and Observer as a topic for stirring up things at some future date when- controversial material is scarce. Governor Gardner says he is not actively supporting any of the candidates for governor in 1932, and in his opinion any man who rises to that office should be able to go up the grade on his own steam. We agree with you there, Gover nor Max, but the trouble is that some of us are not sure that, all of the prospective candidates have the necessary head of steam if not given some shoves. Two more aviators have made a successful hop over the Atlantic. By the time “Little Eaglet" Lindbergh, now a year old, gets to know what it is all about he may not think his dad's feat was such a remarkable thing. It's the same thing that causes modem youngsters to wonder why their dads got such a thrill out of those first automobile rides with Charlie Eskridge and J. D. Lineberger. HOLIDAY FOR THE FOURTH SHOPPERS IN THE Shelby trading area should not over look the fact that a majority of the Shelby stores and business houses will be closed on Monday instead of Satur day in observance of the Fourth of July. Closing on Satur day would not have been a wise move in view of the fact that Saturday is shopping day hereabouts, but the merchants and business men will be generally commended and cooperated with by patrons in closing on Monday in order to give their employes a day’s vacation. The Monday closing will add to the shopping crowds Saturday week and will send everybody back to work on the following Tuesday refreshed and feeling; better as the result of the short rest. WATCHING CLEVELAND MAN’S RECORD WORD REACHES Shelby that the excellent financial con dition of Cleveland county, even at a time when many counties are troubled with indebtedness, is causing; a num ber of State leaders to keep an eye on the man behind the scenes who plays the leading role in directing this county’s financial activities. This interest, the reports have it, has reached the stage where some are wondering if such a man would not be a valuable person to have about Raleigh now that a commission has been established there to supervise county and city government and prevent them from getting swamped in debt. It isn’t likely that the sensible taxpayers of this county would be overly enthused over losing the business man who has had much to do with putting Cleveland county govern ment on a business basis, but it is only fair to him and his achievements to make mention of the fact that his achieve ment here is receiving State-wide attention. Taxpayers, those who live in other counties and sections, cannot be blamed for wondering how' A. E. Cline, commissioner chair man and business manager of Cleveland county does it. The recent financial survey made by the local government ad visory commission revealed that Cleveland county has one of the lowest tax rates in the State and at the same time has far less indebtedness than the average county. This sur vey pointed out, too. that Cleveland county manages to keep its governmental budget within the bounds of a low fax rate with enough left over each year to cut down the county debt. That must be startling knowledge to counties which find themselves hard-pressed to make ends meet on a higher tax •ate without reducing their indebtedness, as we say it is not surprising that other sections, or the State as a whole, would appreciate it very much if the Cleveland chairman could show them how to do it. , Political propaganda can usually sway many votes hut n times such as exist now the average voter will brush noli TOPNOTCHERS by Ket sensational feciflc coast mermaid from Settle who hold? most csi?iy i&ccrd in fetyle swimming fm toojards’ a mifo PACE TUtQiiLsT)Ofi IS WO Will COME r IN SECOND Duel n 6 the PAST yEAR_ Mur MAP1PON HA? WOKEN mi THAN A DOZEN wo&d p RICORPP 1 ties aside when he can find a prospective office-holder who knows how to handle the purse strings in such a manner as to benefit that voter’s pocketbook at taxpaying time. Just what State office a business man such as Mr. Cline, who believes in running the business side of govern ment on a business basis instead of as a political pic-counter, would best tit in and in which he could do the most good for more counties and municipalities we cannot say; but from over the State rumors arrive saying that citizens not as well off as we are here in governmental affairs are hoping that the Cleveland man can be placed in the proper niche at Ra leigh. For several years the executive seertarv of the State Advisory Commission has pointed out Cleveland as a model in county government and has urged other counties to copy the Cline Method. It was not until the last year or so, how ever, when financial burdens of some of the counties became almost unbearable that the other counties began to take a deep interest in the local government. “Wonder," wonders one out-of-town visitor, “if that man Cline couldn't be used in Raleigh to help some of the rest of us as he has here?" He may, yes, but. these other counties should be warned now that it is difficult to keep a man in an office, despite our constant clamor about economy and efficiency, when he sticks purely to business and refuses to play politics. This"has been proven here upon occasions when political interests attempted to push to one side the man more responsible than any other for our low tax rate and even lower indebtedness. THE MORATORIUM PLAN WHAT IS THE MORATORIUM DEBT plan of President Hoover and the United States which has been the most important international topic of the year? In his propd^il President Hoover offered the suggestion that, due to the. gefte^al depression, payment of all debts among nations, including principal and interest, be suspend ed for one year, and that the proposal include the repara tions imposed upon Germany, The first aim of the plan is to aid Germany and the second to give relief to all the other nations. The other nations, as Arthur Brisbane says, can do nothing but accept it in good grace as everybody owes Uncle Sam, who made the proposal, and he. owes nobody. The Charlotte News further elucidates on the morator ium plan as follows: The sum of 1247.000,000 is due the United States in the fiscal year 1931-32 in war debt payments^ Of this sum, $184,000,000 would represent interest and is non postponable. In the present state of the securities mar ket, it would probably be paid in cash, and used for the current expenses of the government. Almost $63,000, 000 would represent payments on account of principal. It is postponable; and, if received, must be used toward the retirement of the public debt. The total amount due from Great Britain is $160,000,000; from France, $50, 000,000; from Italy, $15,000,000. Te chief debtors of the United States are Great Britain, France, and Italy, who received 90 per cent of the total of $10,350,000,000 originally extended in war loans—Great Britain, 41 per cent; France, 33 per cent; and Italy, 16 per cent. Discounting the jtotal amounts to be repaid the United States at 4j per cent (approxi mately the interest rate on the Liberty bonds still out standing) gives $6,862,000,000 as the present value ot the repayments. This is 57 per cent of the amount origi nally lent. On this basis, the present value of Great Britain’s repayments is 90.3 per cent of the original loans to her; of France’s repayments, 47.2 per cent of the original loans to France; and of Italy’s repayments 24.6 per cent of the original loans to Italy. However, if nil the repayments are discounted at 3 per cent (the most recent U. S. Treasury loan bore inter est 3 1-8 per cent) , they have a present value of $9, 174,000,000. This is 89 per cent of the amount originally lent. On this 3 per cent discounting basis, the repay ments of all the war creditors of the United States ex cept Belgium. France. Italy, and Jugoslavia have a high er present value than the sums originally lent. Under the Young Plan, postponements of reparation payments bear interest at 5J per cent. The war debt agreements of the United States with her debtors pre scribe various rates, ranging from 31 to 11 per cent for any postponements in payments. Great Britain receives in reparations approximately what she pays out for war debts. Italy for some time has intimated a willingness to see the Young Plan revis ed. France, however, is due to receive in 1931-32 about •$100,000,000 more in reparations than she pays out for war debts. This is not far from the total of the non postponable reparation payments to France due in 1931 32. The French contend that these nonpostponable rep aration payments represent the cost of rehabilitating the regions of France devastated during the World War. The 1922 act of Congress creating the World War Debt Funding Commission prescribed that the funding agreements were to provide for all payments to be made before 1947 and to bear interest at not less than 4£ per cent. These requirements were withdrawn when Con gress approved the British funding agreement in 1923. The British agreement was passed in the House by vote of 291 to 44, and in the Senate by vote of 70 to 13 (9 Democrats, 4 Republicans.) The agreement with Italy passed the House in 1926 by vote of 257 to 133 and the Senate by vote of 54 to 32 (22 Democrats, 11 Republi cans.) The agreement with France passed the House in December, 1929, by vote of 240 to 100 and the Senate, by vote of 53 to 21 (12 Democrats, 9 Republicans.) IVPIf/lp W* TUI Any «w Tmrfif 1C* Por A K**1*1 oU I 1LL b Dnwit rsnymtit ^ v * * ■ ■ ■ ■ »uaw n For A Registered PRESCRIPTIONS PHONE M# i/ivuuu Build With Brick DELIVERIES FROM PLANT TO JOB When in need of FACE OR COMMON BRICK writ* us, or phone 75m, Mt. Holly, N. C. With our fleet of trucks, w* c»n make quick deliveries to jobs, saving freight and double handling, thereby putting brick to jobs in much better condition. FOR SERVICE AND QUALITY SEE KENDRICK BRICK & TILE CO. MOUNT HOLLY, N. C. CASH FOR POULTRY THE FOLLOWING CASH PRICES WILL BE PAID NEXT WEEK: HEAVY HENS_,_ LEGHORN HENS--— COLORED BROILERS (2 lbs. and up) LEGHORN BROILERS (2 lbs. and up) LEGHORN BROILERS (under 2 lbs.) BROILERS (bareback) ___ BROILERS (under 2 lbs.). ROOSTERS--■—.. DUCKS GEESE -- TURKEYS EAGLE Poultry Co. F. B. ROPP, Manager PHONE 149 — SEABOARD DEPOT SHELBY. N. C. He 10c 20c 16c He 15c 15c . 6c . 6< . 6c 15c ATTRACTIVE HOLIDAY VACATIONS SOUTHERN RAILWAY SYSTEM OFFERS Many Attractive Trips for Your 4th of Juhv Vacation. GREATLY REDUCED ROUND TRIP FARES ROUND TRIP FARES FROM SHELBY, N. C. JULY 3RD Washington...*13.00 Richmond ..*9.75 Baltimore.*15.00 Virginia-Beach.*11.35 Norfolk - *10.75 Portsmouth __..... *10 75 LIMIT JULY 8TH JULY 2ND — Atlanta .. $6.75 Birmingham...$8.75 Chattanooga ..$8.75 Savannah .... $800 New Orleans .......... $21.75 j Limit Atlanta July 7th. Chattanooga and Birmingham July 8th. Savannah July 9th, New Orleans July 12th — JULY 2ND — Jacksonville ......._$16.00 Miami . $26.00 Tampa.$23,50 Havana__ $50.75 W. Palm Beach ..$25.00 Limit Jacksonville July 10. Miami, Tampa, West Palm Beach July 14. Havana July 21st. Many other attractive reduced round trip fares “WEEK END” fares one fare plus 1-5, limit following Tuesday. Coach Excursion fares one fare plus 1-10 for the round trip on'sale Friday, Saturday and Sunday morning SUNDAY FARES 1 cent per mile distance 150 miles or less on sale Sundays to point where round trip may be completed on Sunday. Good in Coaches only. ASK TICKET AGENTS' SOUTHERN, RAILWAY SYSTEM. I'ORGREAIER RESULTS LN SELLING—TRY STAR AUV. It s The Saving That Counts Your earnings don’t count, unless you save something. The amount you set aside determines the future of you and yours. Whether you earn ten dollars or ten thousand, the result is the same if you spend all you make. Resolve to save—and do it now! Union Trust Co. “IN UNION THERE IS STRENGTH.” WHY EXPERIMENT WITH UNKNOWN FLOURS? ILl uiWkitn cKR°urn MADE PUHJR. EAGLE ROLLER MILL CO. SHELBY. H.C. HI J YOU CAN BUY NO FINER FLOUR AT AlNY price. ALWAYS UNIFORM. EAGLE ROLLER MILL CO. If You Save s 1 Nothing Now, jj You Will Have | The Same | Amount When 1 Old Age Comes I s l What you have in the future de- j pends on what you save in the pres- i *ent. There’s no escaping that rule. [ It'S both easy and simple to save, r once you get started. Saving becom- \ es a game. f l Start Saving! t To retire in a certain number of jj years; to travel, or to educate your j children. Then you will enjoy sav- fi ing- ' j First I National j Bank ! SHELBY, N. C. c S -■■■■■" — - --W*n*KU U(4ti V For Greater Results In Sellinir-Try Star Adv.
Shelby Daily Star (Shelby, N.C.)
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June 26, 1931, edition 1
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