Newspapers / The Kings Mountain Herald … / Aug. 8, 1957, edition 1 / Page 8
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Hugh A. Wells Running. Too (Hugth iA. Wells, the Shelby at torney, made It official over the week end that he will be a can didate for the Democratic nom ination for Cleveland County rep resentative to the General As sembly. Without naming him, !Mr. Wells alluded to the fact that (Haywood IE. Lynch, Kings Mountain businessman, had sta ted formally "I’m running.’’ Mr. Wells said ‘he would or UNION SERVICES Rev. J. N. 'Brown. associate minister of Gastonia’s First Presbyterian church, will de liver the message Sunday night at 8 o'clock at the Union service at Insurrection Luth eran church. Mr. Brown will fill, the pulpit for Rev. P. D. Patrick, pastor of First Presby terian church here, who with Mrs. Patrick leaves Saturday for a trip to Menlo, Ga. dinarily prefer to wait until a date closer to the primary before becoming; an “official” candidate but wanted to get his hat in the ring before the race became too clogged. USED SPECIALS! 1 NORGE Gas Range.$19.% 1 MONOGRAM 80,000 RTU Oil Heatei.$19.95 TV Specials — From.$69.95 Lawn Mowers—From.$2.98 Oil Ranges—From.$19.95 MURRA Y’S "ANYTHING IN APPLIANCES" 610 STONE ST. MORE ABOUT Commercial Firms Continued From Front Page penses including meter-reading, line hardware, truck expense, and other costs, and also, it is esti mated by Assistant City Clerk Joe McDaniel, including clerical and mailing costs currently char, ged to the city's bookkeeping to the administrative department. The $100,000 profit accrued out of sales of $250,000, meaning that the city made $1 profit on each $2.50 in sales, or 40 percent on gross receipts. The commercial firms have re ported that heavy increases in their power bills this summer. Most "hurt” is Kings Mountain hospital, the city’s biggest custo mer. Other major users who say the new rate is “rough” are Joy Theatre, Elmer Lumber Company, Dixie-Home Store, A & P Store, Adams Super Market, Belk’s De partment Store, Kings Mountain Drug Company and others. Rate analysis by the Herald, je. ported last week, showed the City pays an average power rate to Duke. Power Company of .77 cents per KWH, this average in cluding Duke’s demand charge of $3,000 to $3,200 per month. It also showed that, after 400,000 KWH, the city pays only a base rate of only .045 per KWH, against the city’s lowest commercial billing of 1.4 cents. INTANGIBLES TAX The city has received from the state revenue department a check for $7,459.36 represent ing its share of tangible taxes collected by the state, assistant city clerk 'Joe McDaniel report ed Tuesday. McGINNIS' AUGUST COAT SALE SPECIAL PURCHASES $19.95 Compare this coat with those offered at $29.95— $10 higher! You'll see the value. A blend of wool and cash* mere — 907o wool and Milium lined for extra warmth. goods # Good selection Styles and colors f All new *57 Other Coats $16.95 to $3430 LAYAWAY NOW! Small Deposit holds your Coat Children’s Coats CHILDREN'S ALL-WOOL COATS SUB-TEENS COATS LITTLE GIRLS' COATS Sizes 7-14 $10.95 to $14.95 Sizes 10-16 $14.95 to $19.95 Sizes 3 to 6 $5.95 to"$7.95 McGinnis Dept. Store W. Mouit tain Street ”500" Held Fills; Race Date Nears DARLINGTON, S. 1C. — Twen ty cars and drivers have now entered the NIA1SCAR Southern 500 mile stock oar classic at Dar lington, S. C. Seven 'Fords, tiwo Chevrolets and an OldsmObile com/prised this weeks entries. Heading the Ford contingent is Joe Weatherly, Norfolk, Va., current N1ASOA1R convertible point leader and Banjo Matt hews, Asheville, N. C„ winner of nine straight races. Other find drivers are Bill Amick, Portland. Ore., iDarel Dieringer, Indianap olis, Neil Castles and Dick Beaty, Charlotte. Chevrolet entries in clude Peck Peckham, Old Bridge, N. J. and L. D. Austin, Green ville, IN. C. Lee Petty, former NASCAR Grand National cham pion has entered in an Oldsmo fbile. The starting field is limited to the fastest 75 late model cars, de termined during time trials start ing August 28. The City of Darlington has been decorated for the first time in the eight year history of the Southern 500, to welcome visitors to the opening of the tobacco market as well as the thousands of 500 mile race visitors. The fif th annual Miss Southern 500 beauty contest will be held on Saturday before the race while dances and a pre-race parade are being contemplated, according to J. V. 'Funderburk, executive secretary of the Chamber of Commerce. The Raceway office has been opened on a seven day basis un til race time, according to (Bob Colvin, general manager, to han dle advance seat reservations. “Tickets move very rapidly dur ing August,Colvin said, “and we sell on a first come basis.’’ Colvin added that choice seats can still be secured in Grand stand “B” located on the back stretch. Pits will again ibe locat ed on both sides of the huge race tracks. For reservations call Darling ton 838, day or night, or write Ticket Office, Raceway, Darling ton, S. C. MV1CHJ AtSUUT FHA Papers Continued, From Front Page construction period for book keeping simplification. Mr. Bridges reported that there is current conversation in Wash ington concerning setting up a government insurance program for FHA-type loans through the (Home (Loan Bank. Under the pro iposed arrangement, the (Home Loan Bank would insure a por tion of the FHA loan, enabling the savings and loan associations to make the low-down payment loans they consider financially risky. Should this development occur, Mr. Bridges added, “We’d pitch right in to the 'FHA pro gram.” Under the change in iFHIA po licy the allowable interest rate was upped to 5.25 per cent. The down payment require ments were changed to: three ,per cent off the first $10,000 Of the mortgage, 15 percent of the next $6,000, and 30 percent of the re mainder up to a top limit of $20 000. The change means that a $10, 000 home may Ibe purchased un der iFHA mortgage for a $300 down payment, rather than $700 —if a willing lender can ibe found. MORE ABOUT Armory Facts Continued From Front Page Mountain, landing at Bridges Airport. Attending the meeting, in addition to the mayor and city commissioners, were Capt. Humes Houston, commanding officer and Sgt. Charles Wilson, serge ant-in-charge, of the Kings •Mountain headquarters com pany. New Home Loan Application Set A new method of processing applications for district home loans under the World War II and Korean OI Bills has been an. nounced by the VA Regional Of fice in Winston-Salem, N. C. George C. Warlick of the Gas tonia VA Office said today that heretofore when an application was received lor a direct loan, the VA Regional Office was re quired to refer the application to the Voluntary Home Mortgage Credit Program, Charlotte, N. C. The VHMCP then attempted to find a lender willing to make the loan. If unable to find a lender, the VHMCP informed the VA Regional Office to that effect and the Regional Office was then able to consider an application for a direct home loan. Under this ar. rangement there was consider able loss of time. Due to the tightening of the money market, it has become in creasingly difficult to find agen cies willing to lend money to vete. rans at 4^ per cent. The VA Re gional Office in WinstonSalem, Mr. Warlick said, is now authori zed to consider applications im mediately without referral to VH MCP, excepting as to larger cities as Charlotte, Winston-Salem, and a few others. This should result in a speed-up of consideration of applications for the direct home loans. As of June 30, 1957, the VA Office in Winston-Salem had dis. bursed funds in amount of $38, 980,009 in direct home loans to 5,023 veterans in North Carolina, j A proportinate part of these loans | were made to veterans in this area, Mr. Warlick said. IMPROVING •Delbert (iDuke) Ramsey, Kings Mountain man injured recently in a wreck on Rail road avenue, was reported in a semi-conscious condition Wednesday iby the attending physician. Although his con dition is improved, Ramsey is unalble to speak and remains a patient in Kings Mountain hospital. Warehouse Clearance! FAMIIY SI7F ™aDU“ rH1TULI DILL refrigerator # No Down Payment ONLY WHEN YOU TRADE IN ANY USED ELECTRIC REFRIGERATOR UP TO 5 YRS. OLD (in operating condition) • LIBERAL ALLOWANCES ON OLDER MODELS # Fully Guaranteed THIS IS NOT A "WARMED OVER" 1956 MODEL RUT A NEW 1957 "SHEER LOOK” FRIGIDAIRE. Close-out Prices ’57 Appliances! Fully Automatic Frigidaue WASHER ONLY $149.95 And your Old Washer Full-Size t Frigidaire RANGE ONLY S169.95 And your Old Stovel 10V* Cubic Foot Frigidaire REFRIGERATOR ONLY $19194 LOOK OVER THESE FURNITURE BUYS! «*r Regularly $89.95 SOFA BEDS $49.95 6-PIECE LIVING BOOM SUITES Regularly $159.95 ONLY S129J5 Regularly $139.95 ^ BEDROOM SUITES 5 PIECES S99.95 BOX SPRINGS AND MATTRESSES 2for price of 1 DRASTIC REDUCTIONS ON DINETTES SOME AS LOW AS S29.95 No Layaways - No Merchandise Returned — Limited Time Only Our Stocks Are Moving! Buy N ow At These Low Prices! McGinnis Furniture Co. Phone 322 # Always Easy Terms # W. Mountain SL
The Kings Mountain Herald (Kings Mountain, N.C.)
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Aug. 8, 1957, edition 1
8
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