V,' ACffF '$"T<*' ,Hv "s *ii *«*'tT ,?atitiat'y n, 1936 ]5fA& HOPE, ARKANSAS Towitsend Plan's Chanees Are Hurt AAA Decision Points! to JjJnconstitutionaiity of ^^ Other Scheme WASHlNaTO~N~~/|>) - Dr. F. K. Towasend, sponsor of the $200-a- month pension proposal for persons over 60, disputed Wednesday contentions that the supreme court decision Monday showed his plan was uk...pun whlf*...ob»or- l...th«mlcolty our*. Excellent Quality at a tuft -IABOAIN mat HOPE HARDWARE CO. unconstitutional. ' Democratic and Republican leaden were inclined Uj believe that the nboillion of AAA would affect the Townsend move in the farming areas, It was said that questions affecting the farmers' income at once would encourage alignments different from those over old age pensions. Most of the senators and representatives are trying to ascertain popular .wntiniont toward the Townsend plan before they commit themselves on it. The Townsend National Weekly's statement that the plan has 39 supporters In the house has brought thousands of letters to members of Congress. Representative Hildebrandt, Democrat, touth Dakota, protested Wednesday that his name had not been included. He said he had checked up sentiment in his district and "after careful consideration,' 1 decided to support the plan. Representative Focht, Republican Pennsylvania, objected to being listed in favor. HP- advocated old age pensions; but said, "T am afraid Dr. Townsend is overleaping the horse and to commit myself before the plan IP presented in definite form would be rank folly." Washington Mr, and Mrs. Guy Card and little daughter of Hope were the Sunday guest. 1 ! of Mr. and Mrs. John Card. Mr. and Mrs. John Shields and daughter, Doris, of Hope, swefe guests of Mrs. Jane Hulsey Sunday. Dr. Pink Currigan, Miss Mary Car- rignn, Mr. and Mrs. Frank Ward, Mr. State Distributes Local Road Money Hempstead's Quarterly "Turnback" $2,461.72— Nevada's $1,727.00 The amount of the "county turn- back 1 ' from slate gasoline taxation— •A cent of the G'4-cent tax—for the last quarter of 1935 was Jl07,669.34, and checks will be moiled out to county treasurers early next week. State Treasurer Earl Page announced at Little Rock Wednesday. Checks U) southwest Arkansas counties will be as follows: Hempstead $2,41)1,72; Howard $1,571.51; LaFoyolte $1.245.84; Nevada $1,727.00. 237,000 We have filled over 2:17,000 prescriptions . . . and each of them has liccu filled with (he most exacting core from the purest nnd freshest of Ingredients. 'Die volume of our prescription business U a tribute to our skill. Accurate-Dependable-Prompt Bring your prescriptions to us for compounding where they will be filled accurately and promptly. John P. Cox Drug Co. Phone 84 We Give Eagle Stamps Charter No. 12533 Reserve District No. 8 REPORT OF THE CONDITION OF THE First National Bank OF HOPE, IN THE STATE OF ARKANSAS AT THE CLOSE OF BUSINESS ON DECEMBER 31, 1935 ASSETS .':"':..• »,, Dollars Cts. Loans and Discounts ^Z^^~'".~'.~..:~ ' ~.'.-.. ,.''......f.' 123,546.52 United Slates Government obligations, jlirect and or fully guaranteed 271,260.01 bonds, stocks, and securities 427,346.09 Fuvhiture and fixtures 12,600.00 Real estate owned 11,283.74 Reserve with Federal Reserve bank 128,170.56 Cash, balances with other banks, exchanges for clearing house, etc 139,990.99 Other assets 1,686.23 Total Assets 1,115,884.14 Dollars Cts. LIABILITIES Demand deposits, except United States Government deposits', public funds, and deposits of other banks 282,467.75 Time deposits, except postal savings, public funds, and deposits of other banks 402,952.71 Public funds of States, counties, school districts, or other subdivisions or municipalities 101,016.02 United Slates Government and postal savings deposits 205,993.46 Deposits of other banks, including certified nnd cashier's checks outstanding 10,454.20 Total of items 14 to 18, inclusive: (u) Secured by pledge of loans and/or investments... $ 456,443.46 (b) Not secured by pledge of loans and/or investments 546,440.68 (c) Totnl Deposits ?1,002,884.14 Capital Account: Common stock, 1000 shares, par 5100.00 per share $100,000.00 Surplus 13,000.00 Total Capital Account 113,000.00 1,115,884.14 Total Liabilities Memorandum: Loans and Investments Pledged lo Secure Liabilities United States Government obligations, direct and/or fully guaranteed 271,260.01 Other bonds, stocks, and securities 308,259.60 Totnl Fledged (excluding rediscounts) Pledged: <a) Against United States Government and postal savings deposits (b^f4#;unst public funds of States, counties, school districts, ^lifZar other subdivisions or municipalities (a) Against other deposits 579,519.61 ~ . •*.!» 314,332.58 51,620.37 213,566.66 (h) Total Pledged 579,519.61 State of Arkansas. County of Hempstead, ss: I, Lloyd Spencer, cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. LLOYD SPENCER, Cashier. Sworn to and subscribed before me this 9th clay of January, 1936. Clarice Cannon, Notary Public. My commission expires Feb. 17, 1937. Correct—Attest: E, P. 'STEWART J. R. HENRY R. G. McRAE, Directors. RECAP ITUL A T I O N Assets Loans U. S. Government Bonds Bonds und Scrip Furniture and Fixtures Real Estate Other Assets Cash and Sight Exchange * 123,546.52 271,260.01 427,346.09 12,600.00 11,283.74 1,686.23 268,161.55 Total $1,115,884.14 Liabilities Capital Stock Surplus Total 100,000.00 13,000.00 ,002,884.14 $1,115,884.14 Rare P hoto Reveals Beauty of Holy City's Gateway Local Historical (Continued from pnge one) letters, or other valuable historic records, which, if properly appraised, might find their woy into a local library where all would have the opportunity to examine them. Recently, one of our workers found. In a bank vault, a historically valuable letter, written by Abraham Lincoln. The owner did not know what to do with it so, in protecting it, he put it where no one could see it. This appeal is being made to citizens of the following counties: Miller, Hempslead. Pike, LaFayette. Nevada, Little River, Howard and Sevier, comprising the Tcxarkana District, for such objects as old records they may possess, and other facts of community value. We trust that you will place in our hands, for tempclrary .safe keeping, any descriptions of manuscripts that we may incorporate in the American Guide Book, the government's new five volume guide to the United States, soon to be published. Our only hope of getting a true and adequate picture of this community before the public, in the American Guide Book, is to be realized through real co-operation from pioneer and other interested local citizens. They can do this by furnishing exclusive special stories about any person, incident, or place of unusual interest. Contact the Supervisor, and he will send a writer to record the facts of UK; story. And all communications should be addressed to J. E. Matlock. Local District Supervisor of the Federal Writers' Project, Room No. 408, Post Office Building. Texarkana, Ark. Mrs. R. L. Levins is visiting her and Mrs. Warren Muldrow, Mr. and Mrs. X. B Miller, Mr. and Mrs. M.S. Bates, Miss Lula Allen, Mrs. Jim Reed Cluud Taylor and other friends of the family from Hope attended the funeral of Mr. W. H. Weir Sunday afternoon. Muldrow Hnnna of Shrevcport attended the funeral of Will Weir on Sunday. George Smith, Pierce Citty and Mrs. J. PrWoBb'of Oznn attended the funeral of Mr. Weir Sunday. Mrs. Pink Horton, Mrs. Ira Parsons, and Miss Hazel Parsons went to the sho win Hope Tuesday afternoon. Miss Kathryn Holt chaperoned the members of the senior class to the show in Hope Monday night. Mrs. Arthur Keel and Eunice Smith left Sunday for their home in Port Arthur Texas, after attending the funeral of their mother, Mrs. Jennie Smith. Mrs. Quinton Cone, daughter Miss Johnnie June and small son Quinton Jr., wore New Year's guests of Mrs. C. M. Williams. Black-Draught's Good Reputation The confidence people have in Black-Draught, built up from satisfactory use so many years, is shown in its being handed on from one generation tf> another. It must be good to have such a strong following. Here is a typical reference to Black-Draught by a satisfied user: "We have used Black-Draught for twenty years." writes Mr.s. Fred Richardson, of Hartshornc, Okla. "My mother has used it for fifty years. It is the best medicine I know anything about. 1 take it for .sour stomach ami constipation, or when I feel sluggish ,'inrl b;id. Black-Draught is splendid to regulate the bowels, cleansing them of waste matter, ridding them of constipation. I expect to use it twenty-five more years if 1 live and it gives satisfaction as it has always given." —adv. League Moves to Aid of Refugees To Care Permanjlhtly for Ousted Families From Germany, Russia GENEVA, Switzerland — (ff)~ Concrete pious for caring permanently for Jewish refugees from Germany, and Russian refugees, wore announced Thursday by the League of Nations. The special committee for international assistance for refugees recommended that an outwstaiiding .personality bo appointed to insure continuity of the work of the High Commission for Refugees From Germany, whoso chairman, James G. McDonald, resigned recently. Beware Coughs from common colds That Hang On No matter how many you have tried for your cough, i cold or bronchial irritation, you OT» get relief now with Oredtnuttiott*' Serious trouble may be brewing and you cannot afford to tak* a chance with anything less than Creoihuf*, sion, which goes right to the seftb of the trouble to aid nature t6 soothe and heal the Inflamed mem-* branes as the germ-lfldett phlegm is loosened and expelled. Even if othef remedies nftvd failed, don't be discouraged, your druggist is authorized to guarantee Creomulslon and to refund yoitf money if you are not satisfied -With results from the very first bottle. Get Creomulslon right now, (Adv.) in a setting ot breath-taking oeaiuy stands the gateway to i.iiasa. a nortai through wtiinh fewer than a dozen white men have passed into the holy city of forbidding, brooding mystery, in Tibet, lar.rt ot the lamaa. Under an azure sHy, witu lowering mountains rolling up behind, the towers of the gateway ore reflected In >h<> placid water below, in this striking pnotograph taken by the Cutting-Vernay Tibetan expedition'tor the Am -M'lriin Mnenmn nf Natural History. By Rodney Dutcher WASHINGTON.—Probably you missed the U. S. Supreme Court's decision in the case of Colgate vs. Harvey the other day. But lawyers who do business before the court believe the verdict may prove ns significant as any the justices have handed down in years. 6> — This case didn't involve any New I Qwn notions as (o what - s ri ght and Deal legislation. It concerned llic right w h a t's wrong of the state of Vermont to except from OFFICERS AND DIRECTORS R. G. McRAE, President N. P. O'NEAL, Vice-President LLOYD SPENCER, Cashier SYD McMATH, Assistant Cashier HOY STEPHENSON, Assistant Cashier MEMBER OF FEDERAL RESERVE SYSTEM Deposits in this bank are insured by the Federal Deposit Insurance Corporation in the manner and to the extent provided under the terms of the United '• States Banking Act of 1935. I CHAS. C. McRAE, E. P. STEWART JAS. R. HENRY REPORT OF AN AFFILIATE OF A NATIONAL BANK Published in Accordance With Section 5211. U. S. Revised Statutes Report as of December 31. 1935, of Home- Really £ Investment Company, Inc., of Hope. Arkansas, which is affiliated with The First National Bank of Hope, Arkansas. Charter Number 12533 Federal Reserve Districf No. 8 Kind of business: Owner and Holder of Real Estate. Manner in which above-named organization is affiliated with national bank, and degree of control: A majority of the capital stock of affiliate is owned by stockholders of bank and u majority of directors of affiliate are directors of bank. Financial relations with bank: Stock of affiliated bank owned None Loans to affiliated bank None Borrowing from affiliated bank $1,700.00 Stock of affiliate registered in name of bank or known to be owned by bank directly or indirectly None Other obligations to, or known to be held by, affiliated bank None Other information necessary to disclose fully relations with bank: None I, Lloyd Spencer, secretary of Home Realty & Investment Company. Inc., do solemnly swear that (he above statement is true, to the best of my knowledge and belief. LLOYD SPENCER, Secretary. Sworn to and subscribed before me this 9th day of January, 1936. 'SYD McMATH, Notary Public. My commission expires July 1, 1936. the state's income tax .such interest as is received from loans made within the stale. The background wns a problem which long has afflicted the New England state?—export of capital to New York and other sections. Wealth produced by New England industrialists and Now England workers has been Fkimmcd off hi large gobs and invested in other fields which seemed more profitable, instead of being plowed back into New England enterprise. After investigation and recommendation by two legislative committees, Vermont decided to do something about it. 'Hie tax exemption was designed to encourage investments in Vermont. But one of its residents. James C. Colgate, sued to have that exemption declared invalid. Colgate is a New York broker with large New York investments. Held Basic Law Violation By a vote of six to three the supreme court held that the exemption violated the Constitution. To do that it dragged out an almost forgotten provision of the Constitution—the part of the 14th amendment which say.s. "No state shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States. . . ." The amendment itself was framed to protect legal and political rights of negroes in the south and its "clue process" clause has since been used chiefly to kill social legislation. But this was the first time the court ever discovered that a state law violated the "privileges and immunities" clause. The court had hitherto been so zealous in guarding stales' rights that most lawyers were amazed to hear Justice Sutherland declare that, "As citizens of the United States, we are members of a single great community consisting of all states united, and not of distinct communities consisting of the states I severally." Firs! Time, Says Stone Justice 'Stone, speaking also for Car- I dozo and Brandeis, pointed out that | "Since the adoption of the 14th amend- | meat, at least 44 eases have been j brought to this court in which state i statutes have been assailed as infringements of the privilcgcs-ami-im- munitics clause. Until today none has held that state legislation infringed upon that clause." Anyone who knows anything about the rows the justices have among themselves in discussing forthcoming decisions among the three dissenting justices grew hot under their judicial collars in debating the Vermont case. Some juridicial experts suggest that the decision) indicates a tendency of the court's majority to protect investors ut all costs, even to the point of denying states the right to look after their own economic well-being. On the other hand, since that may be merely speculation, it can said more definitely than ever that the precendents of the supreme court are only vague guides to its future decisions. In the Vermont case the court virtually forgot about precedent and indicated its willingness to interpret the Constitution in accordance with its All of which has opened up to corporation lawyers a new vista of fat fees and litigation over state laws which was never apparent to them before. The government's lawyers, on thetige. other hand, arc more than ever worried about the fate of New Deal legislation before the court, since they are reimpressed with the belief that no matter how cleverly they demonstrate "constitutionality" the court will knock them down in accordance with its economic beliefs: The fact that Chief Justice Hughes voted with the majority is not taken to mean that he is lost to the "liberal minority," whose other members are Stone, Brandeis, and Cardozo. From sources usually well informed come the report that Hughes is insistent that the court avoid five-to-four decisions wherever possible, believing that they undermine the court's pros- AUCTION SALE! HOPE ARK. SATURDAY, JANUARY 11 ON SOUTH ELM STREET (Back of Cox Drug Store TRUCK LOAD OF DEAD FREIGHT AND BANKRUPT MERCHANDISE Will be sold to the highest and best bidder, regardless of price and without reserve of bid, by lot or piece, to suit the bidders. Stock consists of house, barn and roofing paint in assorted colors, Varnish, Harness, Collars, Rugs, Diston Adkins and Cross Cut Saws of all kinds, Extracts, Hardware, Clothing, Vises and other useful articles too numerous to mention. ATTENTION— Dealers, Contractors, Farmers, Home-Owners. You should attend this sale. This is a good chance to stock up. BUY AT YOUR OWN PRICE! The stock will absolutely be sold. It's a real opportunity. Since this offering is a large one, I urge you to come to the truck early and inspect this stock. SALE STARTS 11 O'CLOCK A. M. Terms Cash. Come Early and Profit. I. RASKIN, Agent daughter Mrs. John James in Hope. Miss Mabel Bearden, who developed a ease of pneumonia last week is reported rapidly recovering. Mr. UJH! Mrs. Barto Bearden and Mrs. Emma Bearden of Rocky Mound were Monday guests of J. E. Bearden and family. Mrs. Williams read a very practical and far reaching article on the "New Year" which will challenge us to do greater service for our Master this year. The PARADE that never Day after day they pass before you in review—these advertised products which fill the pages of this paper. And, as they pass you, single out one here . . . compare it with this .«. . mark that one for future reference . . . here's something you've been waiting for ... there's something to try for breakfast tomorrow. . . . Think of the wealth of information before yo uevery day! What's new in cereals? What's the mode in printed dress goods? What's the latest wrinkle in kitchen appliances? The answers to these and hundreds of other questions are at your finger-tips -just for turning the pages. ~$ssa&tesi*i«*-"' - *""*" ' it means to be able to make up your mind before you start out to buy! How many steps and minutes you're saved. How well you're able to budget your expenditures— apportion your money before you begin. . . . You no longer need to parade from shop to shop— counter to counter— looking . . . looking ---- Today you read the advertisements and let the things you want and need march before your eyes for comparison and selection. Read the advertisements daily. Keep in step with the progressive parade of merchandise on the printed page. It pays!
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