1
"-
i.-.
Mortgage Money Demand
Continues At Record Pace
life : Companies Re
port Big Rise In New
Loans In January 1
; fctow real estate mortgage loans
made by the nation's life insur
ance oomp&nies totaled .S521,tMK)'
000 ;'jini : January, ,, compared with,
$317)000,000 a year' ago, according
to trie; Institute of Life Insurance.
Httwever, the net increase in mort
gage holdings in' January was only
$295,000,000. : ?
Although it has been generally
conceded that the greater part of
the .war-period shortage of hous
ing has now been made -up; the
construction of new housing units
and consequent demand for mort
i gage financing continues at a rec
ord pace, according to the Insti
tute. Unless there is a curtailment
in neW construction in the months
ahead it appears certain that the
companies will be called upon for
more .mortgage loans in 1955 than
in 1954, when a record volume of
$5,333,000,000 was loaned under
mortgages by the life companies.
' Caution Is Urged r
"It is important for both lenders
and . borrowers, and particularly
for the builders, to closely watch
the general economic situation and
keep,. both construction and mort
gage financing on a sound basis,"
the Institute cautioned. "With a
larger share of our population now
owning their own homes than has
been true since statistics have been
kept, the stability and soundness of
this important part of family fi
nances is of greater significance
than ever before.- It is true that a
.safety element exists today which
did not exist a generation ago, in
that practically all mortgages are
amortizing and on a budget basis,
but at the same time care has to
be taken lest too great a mortgage
load to be undertaken by families
without adequate resources."
Life insurance companies have a
largrf stake in the mortgage situ
ation, on behalf of their 93,000,000
TAYLOR THEATRE
EDENTON, N. J. '
Week Day Shows Continuous
. ; From 3:3Q. ; , : :
Saturday Continuous From J :30
Sunday, 2:15, 4:15 and 8:45
Wed, Thurs, and Fri,
April 6-7-8
Robert Taylor and
;" Eleanor Parker in
"MANY RIVERS TO CROSS"
CinemaScope With ;
Stereophonic 'Sound
Saturday, April 9
Johnny Weismuller In '
TARZAN ESCAPES" ,
Late Show Saturday Night
11:15 o'clock '
Cleo Moore in
"THE OTHER WOMAN"
" . also
"STAR ByDS" '
With All Colored Cast
Sunday and Monday,
April 10-11
Esther Williams and
Howard Keel in '
"JUPITER'S DARLING"-.:
CinemaScope With
, Stereophonic Sound
ro '-
Tuesday and Wednesday,
April 12-13
Double Feature ,
' "WEST OF ZANZIBAR"
also i
Marjorie Main in
"RICOCHET ROMANCE"
ECEII THEATRE
EDENTON, N. C.
v - o " -
Friday and Saturday,
Afrril 8.8
:., Barry Sullivan and '
' i-t Dorothy Malone in
V I "LOOPHOLE" A .
f2&
Prive-In Theatre
Frtday and Saturday, '
AM SS-vZ;
William liolden in"
"ESCAPE TO FORT BRAVO"
,: i ' i i o ' ' ' y .'
Sunday, April 40-
Elizabeth Taylor hv
"ELEPHANT WALK
t ii a -i ,i
Monday and Tuesday,
April 11.1S . "y
Audrey Bepbum In '
"SAERINA" , t
' . ... i t '
t; "nesday and Thursday, - "-
J P 1i- , '-A
policyholders, according to the In
stitute., Nearly one-third of all ac
cumulated life insurance dollars are
now on loan to property owners
unaer mortgages. : ;
-he life companies nlaved an im
portant role in helping the coun
try meet the accumulated housing
shortages, of 1 the 1940's. In the
past five years, more than S23.R0n .
000,000 of real estate rnartea
have -either been initiated or pur
chased by the country's life com
panies and at the start of this year,
they -had $25,928,000,000 on loan
under mortgages.
'"While endeavoring to assist in
holding mortgage financing to a
sound basis' in the years ahead, the
life insurance comnnnlon will '
tmue to be an important source
of mortgage money needed to main-
tain housing up to the" needs of ' 1 ne loan u,nns are oe,nff usen 10
the country" the Institute said lestaWish new -pastures or to im
"The war shortages W w,' ' Prove those already established.
made up in most commi,n:ti wlSome of the Practices to develop
now, but there will be a continued
demand for new housing to meet
the formation of new families, ob
solescence of old housing and the
shifts -in population concentrations.
Also, the increased rate of refi
nancing clue to the high frequency
of family moving will be a factor
in the continued demand for mort
gage money. Some 30,000,000 fam-
Iies move annually and manv of
these are home owners who sell
and reibuy in the process of chang
ing residence.
Big Annual Amortization
With practically all mortgages
now in force on an amortizing bas
is, the natural reduction in the
mortgage portfolio each year is
sizeable, according to the Institute.
Resales and refinancings also in
crease the aggregate of mortgage
redemptions. In 1954, the life
companies reported a total of $2,-
680,000,000 of sales, amortization
and redemptions in a portfolio
which totaled $23,275,000,000 at the
start of the year. As the portfolio
increases, the total Of these funds
requiring reinvestment will in
crease. In addition, the life com
panies put into tnis iinancmg a
porfion of the new capital accumu
lated for policyholders. Last year
the equivalent of nearly half of the
yeir's new capital funds made
available by the business was add'
edto the refinancing funds to meet
the year's mortgage demand.
The lie companies have had an
excellent- experience under their
mortgage portfolio. Although more
than 2,500,000 individual properties
are covered by these real estate
loans, the aggregate amount of real
estate held under foreclosure at the
end of last year was less than one
tenth of 1 per cent of the total
amount on loan under mortgages.
The-earning rate on mortgages
has improved in the past two or
three years, with practically half'
of the improvement coming from
Efcuelabe it premium quafity-PIUS Ift 90 6ood
fcsneets all requirements even where !'heavy-duty3
03 k recommended by paaeenger car manofactuif
en. Ift m long-lasting it tavet you money on tha
quart yen don't add I
; Change wrer now for 4 deaner; more cfikknt
- l.vilT
wkh a longer, happier running kfc I y
1 -l
i'Ai sSA. 'iM
THE qWan WfcfcLtf!
reduction in the costs of handling
the mortgages rather than ' from
improved interest rates. : While the
net yield on mortgages has risen in
the past few years, at the end of
1953, , the, last year for which fig
ures exist, it was -still less than at
the end of World War II.
Soil-Yater Loans
Available From FHA
Establishment or improvement of
permanent pastures' is prominent in
the better farming plans of many
Perquimans Count? farmers who
improving their farming systems
through Farmers Home Admini
stration soil and water conservation
loans, according to E. F. Morgan,
the agency's county supervisor
whose office is. located in Hertford
A.1 1 J . 1. T fli-
u...-ij.
, '
good pastures, and for which soil
and water conservation loan funds
are being used, include seeding
with recommended grasses and le
gumes, proper fertilizing, and lim
ing.
In some areas, sodding and sub-
soiling are necessary, Mr. Morgan
said. Brush removal is also a
practice that may be necessary on
some farms. ;
Another Use of the funds may be
forcross-fencing, for pasture rota
tion or to prevent over-grazing or
damage of the pasture land not
ready for grazing.
Still another way in which soil
and water conservation loan funds
may be used in connection with
pasture improvement is through
development of irrigation systems.
Funds may be used, when recom
mended, for land leveling, well
drilling, and the purchase of
pumps, sprinkler systems, and oth
er irrigation equipment.
The Farmers Home Administra
tion can make insured or direct
soil and water conservation loans
to individual farm owners or opera
tions who are unable to obtain the
necessary credit on reasonable
terms 'and conditions from private
or cooperative sources. Under the
same conditions, the borrower may
be a nonprofit organization or as
sociation primarily engaged in ex
tending to its members services di
rectly related to soil conservation,
or water development, conservation,
or use, or drainage of farm land.
The practices for which soil and
water conservation loans are made
must be in line with Soil Conser
vation Service and Extension Ser
vice recommendations.
Trying, Anyway
"Hey, you can't turn around in
the middle of the block."
"Oh, I think I can, officer; just
give me time."
Window QH Co.
Trees Make Money
From Poor Land
Trees can make money on land
that wouldn't produce any other
"money crop".
H. D. Godfrey of the State ASC
Office is stressing the fact .that
trees can make money on Jand
which now produces little or noth
ing. Land that isn't good enough
to grow crops will not grow enough
grass to deserve the name of pas-
ture, can grow enough .wood each
year to bring considerable income
to the owner of the land, accord
ing to Godfrey. . ,
, Godfrey cites the experience of
a farmer who divided his 150-acre
undeveloped woodlot into five 30
acre units. He harvests the wood
on one of these units each year
when there is little other work.
His pulp wood thinnings from old
stands for the first five years on
each of the units have brought him
nearly 2,000. . Each unit looks
like it will bring even more at the
end of the second five-year term.
Not only will these woodlot
plantings pay in money, but they
help in the conservation of soil and
water. On steep, or shallow- land,
they will help slow down the flow
of water off the land and lead it
into the ground, thus reducing
erosion. The water is available for
crop production or becomes a part
of the underground supply that
maintains the flow of streams dur
ing dry weather and furnishes wa
ter for wells.
It is because trees are such use
ful crops in saving soil and water
that their planting and growth is
encouraged through the Agricul
tural Conservation Program, God
frey points out. In North Carolina
assistance is available to farmers
to make tree plantings and to care
for such plantings after they are
made. Complete details about that
assistance can be obtained from the
County ASC Office.
TRY A WEEKLY CLASSIFIED i
GARDEN
MR. FARMER
j See Us For Your
Seed Peanut Shelling
FOR SEED SHELVING THAT LEAVES
NOTHING FOR YOU TO WORRY
ABOUT ... COME TO THE
NEW AND MODERN
Stallings
PEANUT SHELLER
Nov1 Open For Business
Located inthe JBfeech Spring's Section
(Old Beech Springs School House)
4 Miles front Hertford
t ; t and; Operated by
NOAH FELTON
t Who Will Give Each and Every Bag
His Personal Attention.
('"-'v;;- , v.' 5 :;' :-';'::.-':-.:-w-(i-'
OUR AIM IS TO GIVE YOU THE BEST POSSIBLE
SEED IN THE MOST ECONOMICAL MANNER. .
A TRIAL WIW
SUNDAY SCHOOL
; LESSON
rection, nor as living in some dis
tant land singing hymns in loveless
forgetfulness of those they loved
on earth. I think of them as a
great Cloud of witnesses looking on
to see how we run the race that is
set before us, grieved in our fail
ures, glad in our triumphs."
Here's a thought we would all
j0 wen to ponder: "The world is
like a vestibule before the world
tc come; prepare thyself in the
vestibule that thou mayest enter in
to the hall." Rabbi Jacob. '
(These comments are based on
copyrighted outlines produced by
the Division of Christian Educa
tion, National Council of the
Churches of Christ, U.S.A.. and
used ly permission.)
CARD OF THANKS
The Savin family wishes to ex
press its appreciation for the kind
expressions or sympathy from
friends during the death of Clar
ence Adams Savin.
. Mary Trueblood Savin
And Family.
Classified -Legals
FOR SALE AZALEAS; ALL VA
rieties. 50c and up. Candy
Tufft and camellias. See Mrs.
Haywood Divers, 33 Woodland
Circle, Hertford, N. C.
'Mar25,Aurill,8
BOOMING BUSINESS MAKES
opening available for responsible
man or woman with car to call
on farm women in Perquimans
County. Full or part time. Op
portunity to make up to $40 a
day. Write McNess Company,
Dept. C, Candler Bldg., Balti
more 2, Md. Aprl,8
SALESMEN WANTED WOULD
you like to have a good, perma-
CLUB TOOLS
ARE LIGHTWEIGHT,
RUGGED, HANDSOME
Custom -built for home use,
this great new line of tools In
eludes the items you need.
Come in -and see them, and
check these features!
FIRE-HARDENED HANDLES
SMART, DURABLE FINISHES
FORGED STEEL HEADS
AND BLADES
SPECIAL LADIES' MODELS
BMBK--..I
Hertford Hardware
& Supply Company
HERTFORD, N. C.
& Felton ii
hi! -i
CONVINCE YOUt '
1, 1955.
nent, profitable business of your
own. You can have selling
Rawleigh Products. Hundreds of
men are earning more than ever
before, supplying families with
Rawleigh's every day necessities.
You can too. Good locality avail
able in Perquimans County.
Write Dept. NCD-320-216, Rich
mond, Va. Aprl.8,15,22,29
NOTICE OF ADMINISTRATION
Having qualified as Executrix of
the estate of William H Hnivlctla
deceased, late of Perquimans Coun
ty, JNortn Carolina, this is to noti
fy all persons having claims
against the estate of said deceased
tO exhihit thpm tn tho nnrlofcirrn-
ed ,at Hertford, N. C, on or before
tne nth day of March, 1956, or this
notice will he nlearled in hnr nf
their recovery. AU persons in
dented to said estate will please
make immediate payment.
This'llth day of March, 1955.
MRS. ELOISE N.
HARDCASTLE.
Executrix of
Wm. K. TfarHpnatlp
Marl8,25,Aprl,8,15,22
NOTICE OF ADMINISTRATION
Having qualified as Administra
tor of the estate of Mrs. Dora Wild
er, deceased, late of Perquimans
County, North Carolina, this is to
notify all persons having claims
against tne estate of said deceased
PEANUT GROWERS
let us
Shell Your Seed Peanuts
HAND PICKED AFTER SHELLING . . .
3" READY FOR PLANTING
FREE YEAR-AROUND STORAGE
Limited supply Seed Peanuts for Sale
REMEMBER . ... an Experienced Opera
tor can save you money.
Our plant located on North Broad St reet
in front of B.B.H. Motor Company.
We are prepared to electrically
treat all seed, which is of vital im
portance to all Peanut Growers.
Satterf ield & Leary Bros.
EDENTON, XORTII CAROIJXA
"Oldest Seed Peanut Shllerx in the Albemarle"
INCREASE ACRE YIELD
ANHYDROUS AMMONIA
Applieci'rdirectly to the ' ' Practical and Profitable
soil to save you time,
and labor!
r
-to exhibit them to the undersigned
at Star Route, Winfall, N. C, on
or before the 12th day of March,
;1956, or this notice will be pleaded
1 in bar of their recovery. All per
sons indebted to said estate will
please make immediate payment.
This 12th day of March, 1955.
EDWARD B. WILDER,
1 Administrator of
Mrs. Dora Wilder
Marl8,25,Aprl,8,15,22
NOTICE OF ADMINISTRATION
Having qualified as Administra
tor of the estate of Mrs. Marie Leu
Eaves, deceased, late of Perquim
ans County, North Carolina, this is
to notify all persons having claims
against the estate of said deceased
to exhibit them to the undersigned
at Route 1, Box 81, Hertford, N. C,
on or before the 4th day of March.
195fi, or this notice will be pleaded
in bar of their recovery. All per
sons indebted to said estate will
please make immediate payment.
This 4th (lav of March, 'tr,r.
LOUIS." E. EAVES,
Administrator of
Mrs. Marie Lee Eaves.
Murchll,18,25,Airl,S,15
North Carolina In The
Pei-quimaitsVounfy Superior Court
In the matter of the adoption of
Jacqueline Carole A main by
Louis Amato.
NOTICE OF SERVICE OF
PROCESS BY PUIiLICATIoN
To Calvin Sawyer:
Take notice that a Petition seek
ECONOMICAL LONG
for Spring and Fall
Q Increases the Protein,
content of Feeds
MILTON DAIL & SON
Hertford, N. C.
Representative For
PAGE SEVEN
ing relief against you has been fil
ed in the above entitled proceeding.
The nature of the relief being
sought is us follows:
That the Petitioner, Louis Ama
to, is seeking to adopt Jacqueline .,
Carole Amato (formerly Jacqueline.
Carole Sawyer) and said Petitioner'
has asked the Court to issue an Or
der declaring that said child has
been abandoned by her father, Cal
vin Sawyer.
You are required to make de- '
fense to such pleading not 'later;
than the 4th day of June, 1955, and
upon your failure to do so, the Pe
titioner seeking service against you
will apply to the Court for the re
lief sought.
This 4th dav of April, 1955.
W. H". PITT,
Clerk Superior Court
Apr8, 15,22,29
I DON'T SCRATCH
THAT ITCH!
In 15 minutes, von .MUST be pleas,
ed with ITCH-ME-.NOT when ap
plied for the itch of eczema, ring
worm, athlete's foot, insect bites
and other surface rashes or your
10c back at any drug store. Today
at S AND M. adv.
Attention!
AUTOMOTIVE
REPAIRMEN
Come See the
N-A-P-A "Parade
of Parts"
NATIONALLY
ADVERTISED
BRANDS
of Parts and
Supplies for
CARS - TRUCKS
& TRACTORS
All Makes & Models
Murray Motor
Parts Company
HKin roKi), n. c.
- LASTING
A:
I
H
'fi
1
t
.1
fi
ii;'
w
.. PHONE 3336 r
? ' Curch'Streetlfert
'' ' A.. . k i.
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