The Courier News from Blytheville, Arkansas on February 22, 1940 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Thursday, February 22, 1940
Page 3
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2:1, 1010 Says 8,040 Arkansas Families Helped By 1IOI.C In Arkansas UTTI.E HOCK, Ai-k.. Felj. 21.-•Vori' liinti 8.010 Arkansas families, ielhianci'ct !jy the Home Owners' Loan Corporation when Ih.-v fac'.'d the loss of tlifir lionu-s thioufh foreclosure only a lew years ago, tciiay are clearly on their wuy i-j ilc-tl-free home ownership, or u>- leacly have adileu'd that t;o:il, it is Oiiimed. Of thettf tioiTOV.Trs, HOI.C State .-Jaiiagi'r n. F. Milwx'c reported today, K>a linvc paid In $!.2fi4,!fO:i to trass o.'l" llifir debts >:i full. Konifi f,221 otliei.-i i-iliier are entirely current,, toss than Un-re months i:i tin-ears, or nre meeting all cmwm bills anil, tu addition, making regular monthly payments to liquidate their an eaiag.\s, "Still 130 others ore making adjusted payments to 'keep their accounts active mid we expect the treat majoiliy to rehnMli- tate tliemselves." said Mr. Milwec "Considering mat the UVL-I-HRC Uoi- lowcr WHS two years delincnieiii in both principal and Interest and between two and three years on taxes when he was refinanced, ihe record proves that what 1110:11 ot our borrowers needed was only a fair chance — embodied in long-term loans nt a low ink-rest rate-lo cveicomc the hardships the depression forced upon them." In nil. /ul.-ansiis borrowers have paid back $5,417,350. or approximately 27.!)',; of their entice principal indebtedness. The other side of ihe picture—ihe manner in which Die Corporation is liquidating the properties it has been forced to ac.juhe and which or abandonment—also was given by came to it tluough volunlaiv deed Mr. MHwee. The HOI.C now owns 626 homes in Arkansas nnd. In addition has sold 9(,2, or which 421 were' sold last year. These homes were sold for SI.aC4.I51, about 5183,500 beiow their capitalized value—representing n book loss of 5538. a home-in Ktldltloti to selling costs In-liuUii" Commissions Of $121,491. ° "Bui Into that capitalized value wns written not, oniy the unpaid balance of the mortgage loan including unpaid advances and interest, hut. also (teli.i(|tient lasts which may amount to hundreds- of dollars, foreclosure costs, and the ccsts of rcp.ilr and reroiidilion.'ne," said Mr. Milwee. "In other words, the cost of len.icnc.v-of giving the borrower a 'ijhaiife to pull Huong!] -Is o-a^icientcd- In-(he took )uv> the figures show. Silcs .costs appeal- in the operating expenses of the Corporation, paid out of its own revenue.-!. They represent, for the most part, commissions to private brokers who handle on: properties at, set, minimum fees," The homes the HOLO still owns capitalized ul Sl.802,197. according to Mr. Wallace, have a present, estimated market value of S1.4C1.MO. "But merely to say the Corpora- t!nn Is 'losing money in the amount of loss It takes on Its sales of homes is like saving a business Is losing moiiey because one department shows n loss/' said Mi Milwee. "The IIOLC cm-Id h::id!y be expected to sell foreclosed homes —many of ihom run do«'ii and needina extensive repairs, a!) burdened \vith unpaid ta.vt-s—at a profit. Rveiy mortgage Uislitiilion loses money on the sale of lore- closed homes, and makes up for il on its good loans, "Each month the Corporation sets aside reserves, and ii s losses, together with operating expenses, are being mcl through the "spread' between the interest it. receives on its loans and the lowei i-itercst il must pay on its bonds." The HOLC granted ID.MS lor.ns in Arkansas prior lo the close of its lending period in June. 193G nnictiiitlng to S18.077.7B8. Slcclc-Cooter Society—Personal | Missionary Sui-ioly ilntn tainccl J. H. Workman was hostess inn, Tonn, relumed io their home.-, j visit with Itci- sister the past, ten days here mid tit the ) nt-r ",',,, Hr,v" \v'"' brdsldc at their mother, Mrs. F. K. ! Korl: im Vki.]i.-i iidspiiai in lllytlievillc,! weekonn in \it-'ini\ Vll' 1 -' Wlllprs Vvlk K\ I [ ">"vi tn ;>ii lll]Jin., MIIII lici .' • ' ii.uii'iicu to her, husljaiKl who Is I'mpjovi'd there I.IUH- „, Cootn- Monday afternwn | She is a teacher ni So, i!i a Cici-iiian Amtxilinice unit Is wi-j _. _.. ' u,o,se h«,. w,', 0 Wl , ri .) Jownsend Club To ling or tlie olli- as held Wed- CVn-.iM of :ili[):<'di!li(in (or fbv.eis <f'U[f: ii-iid ii'oin Mrs. J. r. Vk-ki'iy. Mi-.s. T. I. Kfiiiiks and Mrs. I'. I-;'. IVji-ltr. Kt>.l wrck lijo :.rf:-iety will n«aisi mi'U in il.e liomt- o! Mrs. Workman suil :u i!,is lime imal plans inve lo be made in prrprmuiun for tlie ministrel \vhtc!i tin,- surety is I to .spunsor. i Mis. Workman «-:vf-d ttiokic-s I and l:ut ihoi(Oatc. i Mrs. I'ralci'S, Itustru I'd liaptisl Sucii'ty Mrs. Ruswll Vtakes was hostess lo tin- I'l-giihir nn.(.|in B of ii le Missionary Sodc-ly of the Bleele 1'ap- iin Clunc-h ul her home Monday uiternoon when there were eleven mcintei-s and two visitors. Mrs. W. H. Alexander and Mrs. Pete Alexander present. A general business meeting wns lield and light fixtures for (he new church which is to soon be completed were selected and ordered. The official opening of the new church is to be the first Sunday in April when jin elaborate service is planned. The hostess served apple pie topped with whipped cream and coffee. lifcnda Kay Klircley Mr. and Mrs. li.')(. Sheelcy are announchiB the arrival of a seven pouul d.iughter at their home In Steclc on FC'J. 9th. Tlie baby has been named Brcnda Kay. Mrs. Shedey was before her mavhage Frnnccs Copelancl. Mr. and Mrs. Herbert Water:; of Brooklyn. K. V. and Mr. and Mrs. U. J. I'itts and childien of Shar- Pull the Trigger en Constipation, and Pepsin-lzeAcidStomachloc Whraicniislipaiion br'm B -i on acid indi- j Muster James Howard Sutitliern i ivii.s rpluriii>d home on>r the wcck- J end ironi the Baptist llosjiltiil In I Memphis Where )n- had spent ih<> ]p«sl fi-w days mv.iei tieatment. Miss Elba Miisfcy has jeUiinoii i to her home in Fomli-ll. u/icr !i vMi hero with frieiiils. I Mis, CJiace Joneu who wns serl- lously ill over ih? weekt-nd at Ihe home of her son. Hay Jones, Is improving at. this lime, H. li. Bpence spent, (he lim of this week hi Utllu Hock on business and while there was the giu-si ^1 his brother. Hoy \v. Spruce. Mrs. Clurc-ncR Pmuleibvuk is confined to her home this week with a severe- attack of influenza. Mrs. George Ijiwrence who lias been confined to her home for several months by Illness is Improved. J/lrs. Issue McKny and daughters, 'rone and Onlska. spoilt Sunday' in Iteyti with another daii<?iit»i-, airs, Venion Bishop and familj-. Mrs. It. A. Spcnee of Stecle who 'a spending the winter in Hanis- ottrij. Ark., with her danijhter, Mrs. I. M. Greer, will leave soon for r. uf which will be announced later. Tin- plans will bo piesenlid to the sruiili tomorrow nl'^ht •Hiv t-lub will iccoive a .., Hush bulletin eiich wi-ek bculmili-.s l-i:il:iy. March I, for ihe next ten (•oulmiiy invlium Hi'.'' |»lb)ie7n'nl^ |[-';"__"«'li Krliluy nlmn to hear , THFIKR Kiilliir Clieek KALSK TIMTII Nock, Slitio or Slip? TKETH, mi Jmjji-uvM) powder sprlnliirtt on imp.,' or linvri' , | 1() |(|.s false tn'lh more l)n»- pliive. Uo inn slide, slip iir No gummy, umii'y, )mS |.v ui leelliis. l-'AKTEEm is -if- tncn-iield>. Does nol .sotir. s "pUite odor" ulfiiluiR ii. ui r'AHTEKTii nt ;l ny ,-iioiv. Adv. a SALE ENDS SATURDAY! APPY GRO.& See Your Denier or ARKANSAS-MISSOURI FlWfR CORP Zlcctlic geiaice. the trigger on those lazy bw.-cls So l-t siire your laxative abo co[,taiiis Pepsin. l.-ikcDr.Gddwoli sLasativc, hccausi-ili hynip l\>;)5iii heJiH you cain tlmi «-<ia- derfulstoauKhcoinfort.ivlulcllicIaxmu'c Scinia moves your Ixjwcls. Tests prove the tiowcruilV-psin to dissolve tlioseluinpsof iKKliRcsiwl protein fo<xl which i n;l y linger myuurstuiiucli, totausebcfchiiij; t'-]*trTi- aficlity and n:ni«c:i. This is how'pc-psin- r^iii your;h hflps relieve it ol'sucli u.siresa. At (lie same tia'.e this nu'iiicinc vv.ikod uphizy ticrrcs and imib-clcs in yclir jwwclsiorclicvsyourconslipatioii. Sosw how much iwtler you ftcl by taking the liixative Ihtit also puts IVpsin to work or I Hal stouracl. (JUcuihfort, iix>. Fvou Cm- ii-ky ciuldreii love io t:isie this ptasani ft-iiiily laxative. Huy Dr. C;ild»c-li'.< l.:i\- ative—Sviinn wicli Syrup IVpsia at vour druudil todav! 'I Words 2.27 Quality! A native Arab will not walk OM the streets with hi s ,ijf e . Announcements The Courier News lias been form&'.ly authorized to nmionncr the following candidacies for office subject to the action of the Democratic nriinary in August, Mississippi Comilv Judge ROLAND GREEN ShorilT nnd Collcclor 'IAT,E JACKSON County Treasurer K. L. (BTLLY) CA1NES 'Prtr Kfcnnd Trrml JACK PIN-LEY ROBiNSON County and Crntwtc Cl.-rk T. W. POTTER <For Second Term) MBRgO W kv\ w« c ? The Courier Mews hns bcw, a» , thorlzert to nnnnunce Ihe follow- i Ins candidacies for election nt. thf; Municipal Election, to be h c I c April 2. Murdrlpnl .fiid^p IX)YLE KENDKRSON 'For Second Term> GEOIJOF: w HARHAM City Clerk : PRANK WHITWORTII .CHARTS SHORT i JO"N FOKTEB 1 Cltv Attorney ! nrw MBIPON , PEHGV A. WRIOffT Practicall Con- vcnicntl Unbrcak- _^ abkl Mode of extra-thick, specially-hardened, aluminum. Makratight5'/:-oi,cupsofdc!iriou5, filtcrcdcofTce SetthisncWiVIl Coffee Maker todayl Work Shirt Side SALE! HERRSfOON SHIRT & PANTS SET HI3RO 5-IH-l PAN SET $^ 3-Qum Size, SPECIAL J 3 Quart S:zt. SPEClAt,S"j 3-PC.K1RROCOV, POTSH r| 2.3or.J4 Qt Eiztj.SPECIAL 5<I (•3-<it fat utti Stra,»tr t, a ) W S^asi pi no en an iSo, !','» u HH MIRRO TUBED CAKE PAH $.J 10" Diemcto-. SPECIAL [ MIH30 EGG POACHER $J SEgj Site, SPECIAL S HlfiRO RING MOLD 8>i" Ditmeur, SPRCrAI. RIJ. iMS ' ' R ' t! " 5 5? SET 19 Duy Tour AMERICAN KXI'RESS MONEY ORDERS at ROBINSON'S Drug Slorc "Th« Progressive Store J. IV. Shoust \Vilson Phone 35 Got extra service for less money! Cotton covert or chambray.. Triple-sewn main seams. Sale I Exclusive at Wardi I I5e Mechanics Gtt6patniKiwl W^rk In the foot comfort of thcs« famous scamlcjj socks! Smrdy, abiorbent cotton.- Separately: Shirt..09c Pants..98c Men I Save 40c on the best-looking, h c st- fitting outfit you've ever svorul Here's Extra COMFORT! Every sliirl and trouser size cut full. Every yard of fabric SANFORIZED (99% shrinkproof). Here's Extra STYLE! You'll enjoy this snappy herringbone pattern fabric I WORKPANTSSAIE! 1.39 values reduced! Sanforized cotton whipcord f 5 pockets, 98c Values! SANFORIZED ^ liHtfy *%, PIONEERS PRICES FOR mm & SATURDAY r? KIinnklcBs & Tendered 14 J*!*^ li 11) K Ih. Aver.U'o, l.lj, M £ t ')\a •• « '' • I II.J»1WJXIH1MIMI JIUifflBMB Side Meat Ib. 1 Pkg, Pan Rolls with 1 lfe k Rwick Krisp Rindless Bacon for Try KROGO II.' Put, V t , SUl. *nm5,Xmqe('t Courh/ Out, t.'ounlry Cllil) fi Sninll or ;i Tail t'lflt'lt, 2 I.iifjro [,onvcs 15c MEAL 2-1 Ul). lil.jr HAKINI; i'\nit. DUMSSliN'U Htiibiiss.v, (|l. SYRUP •1 For Fruit Cocktail Country Glut) No. 1 Cnii, 2 For Cound-y Club No. 2 Oil!, ,'1 COFFEE ! 11). Ific; ,'! IJis. ... 43' l Mulches li li'oxcs 17 i>tiiiiilnnl Toimtlous No. 'i Cito 6 ]'. & (',. SOAI' 7 Hat-s 25' COKN'I-'LAKKS Cinmli-y Club, 53 5' IIUAIKO 1 11). Iflc; .S l.lts. Sflc; •! f,!)H «.«<; *IU .Inicc (i ii/. (Jim 15' CAULII'TIWBR Snow While Hemf 12J MONTGOMERY WARD 406 \V. Wain Pbone 07G ig.Beans ibc Slandanl, 2 Km Soc Our Stores For I.ow-l|>OTATOltf5, 1(1 llw cst Prices on Sect! IRISH B Idaho, Visincl Hair POTATOES. • —-• »!-• COU.AHDS Hunch J.KiMONS, ,^ For Only 2;{ More Days I.efl ;-— K (o Get Your Majcslic C OSserries lOc Country Club, No. 2 Can ! OMON SETS . -IQc Ucd & Yellow, 3 Lbs. Iw J !ORANGKS ftAc I 5 Ul>. VisincL Bag .. £U Pound " •* 1 V "' ""'Ji-'suc ^ouh-a 7iTY Brc - C ' Cf Yoilr Card >I '»- 1 APPLES, Wincsap * 2 day. J)o?.en I c UICE-.WHEAT Cc Vitamin Cap PUFFS, C. C. 3 So^p/^Sr,. 171 Kof! TiSSUe 1ft c fi OATS, C-Cluirf^ci Grape Juko' Box 15 C IC'try. Club, Pt 15'

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