Hope Star from Hope, Arkansas on December 2, 1938 · Page 1
Get access to this page with a Free Trial

Hope Star from Hope, Arkansas · Page 1

Publication:
Location:
Hope, Arkansas
Issue Date:
Friday, December 2, 1938
Page:
Page 1
Start Free Trial
Cancel

Kit John T. JFIynn Says: fty JOHN T. FLYNN NBA Service Staff Correspondent Seven young economists from Harvard and Tufts College have fabricated a program for economic recovery. It appears in a small book just published. —— ~ " <^ f As in 1931-32 n stream of programs Atkins Explains Auction Sale for Bank December 7 Sound Liquidation Holds Property Off Market, Improves Price 86% FOR DEPOSITS Liquidation Is Near ing End and Real Estate Must Be Sold W. S. Atkins, social deputy bank commissioner, in charge of the liquidation of the insolvent Arkansas Bank & Trust Co. of Hope, in an interview Friday gave n brief history of the liquidation and the State Banking Department's, reasons for holding an auction sale of the remaining real estate assets of the Trust. A sale idate of December 7th has already been announced, and the bank cimmissioner and his selling agents are proceeding with the advertising and other matters pertaining to the sale. Mr. Atkins stressed the point that in some instances the department is not given the credit which is due it as a result of the orderly and highly successful liquidation work which has been done under tis supervision. Atkin's Statement He said: "The necessity of receivership and the importance of properly handling trust estates sire frequently overlooked. To many people liquidation means clumping the assets of a closed institution on the market as hurriedly as possible and disposing of them in many instances at a sacrifice to the creditors of the institution, in order to get the Trust closed. Had this been the policy with respect to the Arkansas Bank & Trust Co. the depositors would not have received more than 50 cents on the dollar for (heir claims. "We have endeavored to conduct the liquidation in a businesslike and orderly manner; and we believe in so doing that the creditors of the Trust have bonefitted. In many cases it is the policy of liquidators to trade assets of a closed bank for claims against such bank. We have endeavored to convert the assets into cash and then pro rate it among the creditors in order that each creditor have his pro rata. Only a few trades have been made since the said bank closed. In each instance they have been approved by the chancery court. There- fcjre, we have been able to pay to the depositors Eighty-six and one-half per cent (8614%) on their claims. Liquidation Due The time has come, when the remaining real estate assets should be disposed of. The question then presenting itself was the method of disposing of uic property. Obviously a special campaign was necessary and time was a factor to be considered, so •we decided to sell at public auction. There is an obvious advantage in the auction method of selling from the viewpoint of the receiver in that no person can contend that the property was sold to the disadvantage of the depositors. In a well-conducted and well-advertised auction sale, the price obtained at the sale is presumptive evidence of tlie value of any property, since all parties who might be interested in tlie property have had a free nnd unrestricted chance to bid at the sale. "Due to the understanding and cooperation of the depositors and the community, we have been able to make a good record. Their continued cooperation, and attendance at tlie sale, their bidding on properties in , which they arc interested, will be greatly appreciated; and, of course, a highly successful sale will be of mutual benefit. "The selling agents for the Department have opened offices in the bank building and cordially ask all interested parties to call on them for any information pertaining to the sale." December 16 Deadline for Receiving Bids The deadline for receiving scaled bids for construction of the new Hope fire station will be 2 p. m. December 16, instead of December 18, as announced Thursday. Sealed proposals will be received &t the office of Mayor Albert Graves. A legal notice concerning the matter appears elsewhere in this issue of The Star, A bread and yeast-raised pastry seems to keep fresh almost indefinitely if promptly cooled to 30 dergees Cen- igrade in a carbonic acid atmosphere German scientists find. A Thought Childhood sometimes docs pay a second visit to a man; youth never.—Mrs. Jameson. Cranium Crackers Some of the following statements are true. 'Some are false. Which are which? 1. The Jukes family was a famous family of soldiers. 2. Queen tees have no stinger. 3. Berlin is known as the Eternal City. 4. Goldfish were developed from Chinese carp. 5. Jumping beans do not jump. A.us|\y«;i-s on I»njpc Two for rehabilitating America pours out upon our desks. This is the most interesting I have seen chiefly because It comes from the hands of men who understand the nnatomy of the capitalist system. Tlie program is based upon the theory that the continuing functioning of the capitalist system requires a,continuing flow of investments Tlie authors point out quilt; properly that this means that private industry as a whole must pa yout in capital and operating expenditures more than it receives back in prices. Strange as this may sechv, It is true. Private industry has ceased to do this because capital investment has almost come to an end. Therefore these gentlemen ground their whole plan upon the proposition that, as private invcstmnt has seemingly come to an end, the government must step in and become the great investor. The whole problem, therefore, is to organize and finance a vast government investment program which will be permanent. The authors disclaim 1 any plan to disrupt the economy of private ownership. Private ownership having abdicated at present the function of capital investment expansion, the government will undertake it merely to protect the remaining functions of private ownership. Five-Point Plan' Here is the program. (1) A 50-year program of rebuilding America—its houses, starling with homes for the slum dwellers. (2) A vast expansion of our recreational facilities. (3) Great projects to modernize our traffic facilities. (4) A great program of conservation of resources, particularly soil through reforestation and fire protection, engineering works to retard surface erosion works to retard surface erosion and a national program of river and dam co-ordination for flood control. (5) National progralrt of educational and health expansion. Crt the welfare side they would ex- end old-age benefits to all classes and abolish benefits to all classes and abolish the old-age reserve account and would reorganize unemployment benefits to include all workers and supplement benefits by elastic work projects to afford longer subsistence when insurance benefits run out. The problem of financing government investment becomes the terrifying orge in any such plan. The authors advocate both taxation and borrowing. They insist toxe revenues can be expanded enormously by putting an end to existing evasions and by abolishing tax-exempt securities. They also advocate what this writer has advocated, the taxing of corporate earnings in the hands of stockholders rather thpn^n the hands of corporations—> taxing earnings rather than dividends. As for borrowing, they face with equanimity continuous borrowing, wholly unterrified by the constantly rising level of the public debt. The rising tide of taxes to pay interest they" dismiss with the proposotion that this can be rendered harmless in economics if the ownership is spread out among all tlie people. Then as all the people will be taxed to pay the interest, the interest will go back to them as owners ot the boYids. As to private business, they urge an end of trust busting. Great aggregations of capital arc useful. The gov- errrm'ent should regulate those that can be egulated by controlling prices and should take over those which do not yield to regulation. It should take over the railroads, regulate prices of great basic industries and try both regulation and ownership of utilities. These measures, they think, would restore better times and keep them among us. Eakin and Cole to Head Razorbacks Backfield Mainstays Are Elected Co-Captains of Grid Team FAYETTEVILLE, Ark.—Kay Eakin and Ray Cole, mainstays of tlie Razorback backfield, were elected co-captains of the 1938 University of Arkansas football squad at the annual banquet given for the team by President John C. Futrull Thursday night. Eakin, whose home is in Marianna, is ajunior and star passer. Cole from Ranger, Texas, has been a steady performer at fullback. Speakers were Dr. Futriill, Dean J. S. Waterman of the Athletic Council, Head. Coach Fred C. Thomson, Athletic Business Manager Boyd Cypert, and retiring Capt. Lloyd Woodell. Varsity letters were presented to 23 members of this year's squad. They were: • Senior—Captain Woodell, Fordyce, center; Forrest Larimore, Rogers, quarterback; Frank Mosley, Fordyce, halfback; 'Sam Parker, Little Rock, and W. B. Owen, Almfc, guards; Randall Stallings, McAlister, O'kla., and Bob Stout, Fayetteville, tackles, and Marion Fletcher, Hambuhg, fullback. Juniors—Ralph Atwood, El Dorado; Gloyd Lyion, Ranger, Texas; Walter Hamberg, Lonoke; Neil Martin, Texarkana, and Cole and Eakin, backs; Zack Smith, Frederick, Okla., end; Dudley Mays, Fayetteville, tackle,' and Wilfred Thorpe, Little Rock, guard. Sophomores—Joe Scalet, Hartford, halfback; Maurice Britt, Lonoke; Howard Hickey, Clarksville; Jolin Frci- bcrger, Point, Texas, and Bill Southcr- land, Pendleton, Texas, ends; Jan Carter, Hazen and Saul Singer, Brooklyn, N. Y." tackles; Milton Simington, Dierks, guards, and A. J. Yatcs, Ben- tonvillc, end and guard. Old Dobbin is making a comeback in Kentuckey which had 7,000 more horses on farms at the start of 1938 Own in 1937 WEATHER. Arkansas—Local showers, cooler in west Friday nitjht; Star VOLUME 40—NUMBER 43 HOPE, ARKANSAS, FRIDAY, DECEMBER 2,1938 most cloudy, showers in east, cooler in west and central portions. PRICE 6c COPY Y.B.M.A.toHead Goodfellow Drive in Hope This Year Public Meeting Called for Next Thursday at the City Hall TO AID THE NEEDY Several Projects to Be Launched at Beginning of New Year The Executive Committee of the Young Business Men's association meeting Thursday night with the new president, W. S. Atkins, decided to sponsor the Goodfellow membership campaign in Hope this year. The committee also discussed several feasible projects for both the city and county to be launched at the beginning of the new year in January. This program, incomplete at present, will be announced as soon as plans are :omplcted. The program not only "looks good," but can be accomplished through the efforts of the association and public as an outstanding forward step for the benefit of this section, according to members of the executive committee. Meeting Is Called Tlie main objective of the association at present is sponsoring the Goodfellow movement to provide Christmas cheer for needy children and families who are less fortunate and whose Christmas would be a bleak affair—without aid. Mr. Atkins announced that a meeting of the association would be held next Thursday night, December 8, at Hot city hall. Any other civic body or. weira're 1 organization is invited to attend. The time is 7:30 o'clock. To Form Plans At the meeting, plans will be discussed and committees appointed to set the Goodfellow drive into motion. Last year, the Goodfellow movement was sponsored by the American Legion post with the aid of the Hope Ministerial Alliance in which committees raised money through solicitation of various business houses and industrial plants. The American Legion and Ministerial Alliance, along with any other organization interested in the Goodfellow movement, is invited to tlie meeting next Thursday night. Governor Bailey Guest at Presidential Party WARM SPRINGS, Ga.—(/P)— Governor Carl Bailey, of Arkansas, who returned to Warm Springs afto ra visit in Atlanta with Governor E. D. Rivers, of Georgia, attended a holiday party with members of President's staff Thursday night. Others in the Yhite House group included Ambassador Bullitt, Harry Hopkins, and Dr. Ross Mclntire. ^Tho basic gum entering into the manufacture of chewing gum is chicle obtained by coagulating the milk, or latex, of the Sapota tree of Centra America. MIND Your MANNERS T. M. Beg. U.-S. Pat. OH. Test your knowledge of correct social usage by answering the following questions, then check against the authoritative answers below: 1. Is it good manners to stir coffee long and vigorous? 2. Should one lean an elbow on the table while eating with the other hand? 3. Should one who is eating put his napkin to his mouth before taking a sip of water? 4. When one is eating in a crowded restaurant alone and another person asks permission to sit at the same table, how should he be answered? 5. If arestaurant meal is Dutch treat, should one feel free to criticize the food? What would (you do if— You have lunch with an ;ic- quaintance, expecting it to be Dutch treat, and she insists on paying— (a) Let her, and you pay next time? (b) Make an issue of it? (c) Try to slip tlie money in her bag? Answers 1. No. 2. No. 3. Yes—to avoid leaving a ring on tlie glass. 4. "Not at all," if the other says, "Do you Mind 9" 5. No. For it makes a meal unpleasant for the others. Best "What Would You Do" solution—(a). D WARNS FRENCH id Maxim, Machine-Gun Inventor, Make First Airplane? Photo Seems to Be Proof Got Heavy Craft, Foot Of f Ground Ahead of Wrights Ten Years Before the Wrights, He Made Experiment in England NOT "FREE FLIGHT" Guard Wheels Kept Machine From Rising Too High, Caused Crash By NBA Service CINCINNATI — Photographic evidence that Sir Hiram Stevens Maxim, American-born inventor of the machine-gun, was the first man to fly a hcavicr-than-air machine, is in the possession of E. W. Roberts, Cincinna- mcchanical engineer. Roberts, who was at Maxim's estate i England, when the inventor tried out his steam-powered, kite-like contraption, offers the photos of the wreck of Maxim's machine as evidence that the gunmaker really deserves a part of the honors usually accorded Dayton's Wright brothers. Maxim, according to Roberts, attained an altitude of one foot in 1894, almost 10 years before the Wright flight at Kitty Hawk. But he smashed the machine, and advancing age prevented further experiments, Roberts, who had read iri a. magazine of the, projected experiment, wrote and asked permission to witness the "flight." Three Times and Up "It was 3 p. |m. of a hot July day in 1894," recalls Roberts, "when Sir Hiram got up steam in the two engines of his machine, which weighed 9000 pounds. "It resembled nothing so much as a large kite covered with cotton fabric. Out of the door of the hangar Maxim had built a track to fit the wheels. To keep the plane from turning over, outrigger wheels had been installed to run along wooden rails on the outside." Twice, Roberts recalls, the nervous Maxim and two assistants spun the machine down the rails at a 40-milc- an-hour clip, but it refused to rise. Then 'Maxim ordered the machine back for a third trial. Tlie huge propellers spun furiously at 350 revolutions a minute. The awkward contraption got under way, the covr-'-mg of Ihe wings stretched tight as a drumhead, tugging furiously at the many guy wires. Tlie machine careened down the wooden track, rose uncertainly, and then came a sound of splnitcring timbers and snaping steel. The machine crashed through the outrigger rail and almost hit Roberts, who ran for a tree. "Looking back," he remembers, "I saw the two assistants itched headlong to the ground. Maxim saved (Continued on Page Three) —~ «^»-O«te Strike Leaders in France Lose Jobs Daladier Ousts Many Prom Payrolls of Public Utilities PARIS, France.-(/P>-Premicr Dala- dier took stern measures against participants in France's thwarted general strike Thursday night and headed for a showdown on his three-year plan of economic mobilization." _ Despite moderate demands for a gesture of apparent" following his easy victory in quashing Wednesday's abortive walkout, the government and big industry decreed punishment for striking workers. Leaders of the strike move-ment in public services were ordered discharged and thousands of workers in private industry who joined the movement were dismissed. Scattered walkouts of workers in sympathy with those discharged gave the government a new problem. The Premier announced he would convoke Parliament next Thursday His action against the strikers, alienat ing him from Leftist parties, was re gardocl us having thrown him on tlie mercies of the extreme Right. The Socialist party charged he ha( combined with "Fascist" sympathizer to smash all benefits labor had gained under the People's Front government since June, 193G. Government sources put the number of dismissals of workrs tliroughout France at "not more than 70,000." The Socialist party charged that 1,500.000 workers had been punished. Was |h» the end of the first flight of a heavier-than-alr machine? E. W. Roberts. Cincinnati «l,an,cal engineer believes it was. He witnessed the event, when in July of 1894. Hiram S arms inventor, took tins contraption a foot off the ground, then crashed as you s\* above Cooter Outlines Cotton Council Is I Fisher Body Plant Social Security Supervisor Explains His- Representatives '* of Fou - tory of Old-Age Security Law Enactment of the Social Security law followed a noxhaustive study by a special committee including such industrialists as the late Mr. Eastman, and representatives of labor and other interests, John H. Cooter, supervisor for the Social Security Administration, Texarkana ,told Hope Rotary club Friday noon at Hotel Barlow. The law was not "something pushed off on the congress by the executive department, as some have charged," Mr. Cooter said. "It wa sthe result of a long and careful survey by a competent committee representing all classes, and it was adopted by the congress almost exactly as the committee drafted it." The United States, Mr. Cooter pointed out, was the last of the great nations to provide for old-age benefits. The old-age insurance division is the only one of egilit parts of the law that is administered soley by the federal government, the states operating the other seven divisions, he said. Social Security reports have been greatly shriplified this year over 1937, including reduction of reports from 12 a year to four, Mr. Cooter declared. He showed that a real necessity existed for old-age insurance because of the declining opportunity for new land, and the rising percentage of old folks to total population. A generation agolhere were 3 million persons over 65, but today there are 8 million, and statisticians show thul by 1980 the number will be 18 million, in a population virtualy stationary. Guests Friday besides Mr. Cooter, were: Rev. Kenneth L. Spore, new pastor of First Methodist church of Hope; Wayne C. Fletcher, new member of Hope Rotary club; and Hal Moore, Jr., Texarkana Rotarian. Christmas Buying Pushes Sales Up Cold Weather, Holiday Purchases, Improve Trade in U. S. NEW YORK-t/P)-Stimulated by cold weather and the start of Christmas shopping, buying in retail stores at leading centers of distribution this week averaged 2 to 9 er cent above last week for tha. country as a whole Dun & Brandstreet reported Friday. The sales volume, compared with a year ago, ranged at leading cities from 3 per cent higher to 6 per cent lower. Cotton NEW ORLEANS -W)— December cotton opened Friday at 8.77 and clos ed at 8.64. Spot cotton closed lower, middling 8.49. Proposed in State Branches of Industry Meet at L. R. LITTLE ROCK —{£>)— Representatives of five major branches of the cotton industry in Arkansas—producers, ginners, warehousemen, merchants and seed-crushers—met here Friday to discuss the organization of an Arkansas cotton council. Harold A. Young, North Little Rock, vice-president of the National Cotton Council, presided. Speakers said the chief problems facing cotton men were freight rates, diminishing foreign markets, and low prices. 23 Identified Dead in Bus Disaster 16 Others Injured, and 3 of Them in Critical Condition SALT LAKE CITY, Utah—(/TV- With the death of a youth early Friday the toll of the nation's worst school-bus-train disaster rose to 23 identified victims. Sixteen youths, all occupants of the crowded bus which was hit near here Thursday by a fast freight train, were injured, three critically. Authorities said one badly mangled body remained unidentified. Morgue attendants said it was possible the form was wart of one or several of the identified children. Postpone Trial in "BakingDeaths" Court Permits Accused Warden to Interview Other Convicts PHILADELPHIA, Pa. — (#)— The Pennsylvania Supreme Court Friday postponed the opening of the trial of former Deputy Warden Frank Craven, one pf 10 defendants in the Philadelphia prison "baking death" trials, for at least two weeks to allow his attorney time to interview convicts who escaped death in the punishment cell block lust August. Court attaches said the trial of the others also apparently would be deferred from next Tuesday. 72 Drowned in Floods on North Border Turkey ISTANBUL, Turkey-m_Seventy- Grid Squad Guests of u'n nprsnns nrn\im«^ 4lim.<-.*.tj.. „* ~_ two persons drowned, thousands of ciittlo perished, and hiuses were wrecked Friday when floods swept the region north of tlie Syrian border. • i m Smiling for the first time in mon- hj*iiiu»J5 AVA wiv nidi uuie in mon- v * **• "j-"*a**w juiuusudy iiigiu u> see tlis, 400 child refugees in Shangai were "Service DeLuxe" showing at the 17 points transfered to Chekiang province Saenger theater. Coaches Hammons where they are beginning life anew, and Brasher also attended. Closed by Strike Work Due to CIO Strike Call FLINT, Mich.—{#)—The Fisher Body company's plant No. 1, employing from 6,000 to 7,000 'men, closed at midday Friday when members of the CIO United Automobile Workers union walked out on strike. The men left the plan after a strike vote was taken in connection with a prolonged dispute over tlie wages rate in the press and metal department of the plant. UAW officials said the men voted 3,454 to 433 for the strike. Fascists Demand Share of French Colony in Africa Tunisia, Bordering Italian Libya, Objective, of New Drive A THREATrOF WAR "Ready to March—Even ' Against France—If , Necessary, ROME, Italy.-(/P)_Fascist Editor. - Virgmio Gayda, who often reflects Premier Mussolini's own views, warn- • ed France Friday that Italy "is ready to march—even against France—if it is necessary." Gayda's declaration sharply under." scored the strain on Italian-French-relations since Wednesday when Italian deputies demonstrated for the recognition of Italian interests in Tunisia. , Adjoins Italian Libya The French protectorate of Tunis, ' in which Italy now is seeking a hand, is afavorite North African territory facing the Mediterranean sea, with Italian Libya adjoining it on the southeast Tunis has 48,300 square miles, and a' ' population of 2,159,708. Tunis was the seat of the ancient sea-power qf Carthage, was overrun by the Ottoman Turks in 1575, and acquired by the French in 1881. Chinese Advance SHANGHAI, China. — (f?) — Chinese forces reported Friday they had recap- „ tured Lintsing, major city in western Shantung province. ' ' The Chinese press also reported guerrillas had attacked a Japanese out-, j>ost near Nanking, HlUngjorwounding Kidnaped Girl Has No Money, Freed Mary Brown, 18, Returns to Farm Home After 30-Hour Absence OXON HILL, Mo.—(^)—William D. Brown, father of 18-year-old Mary Brown who reappeared at her home Thursday night oftera 30-hour absence, said Friday she was abducted by men who mistakenly thought he could pay ransom When she convinced the men he was unable to pay ransom, he said, they released her. Girl He turns Home OXON HILL, Mo.—(A 3 )—Mary Brown 18, schoolgirl missing since Wednesday afternoon, was returned to, her farm home near here Thursday night in a hysterical condition. Friends of the family said Mary told them she had been seized by two men in a truck, taken to near-by Washington and held there until Thursday evening. She then was put into the truck, her friends said, and taken to a spot about half a mile from her home, where she was released. Persons at the Brown home said Mary, with her clothes tattered and her body bruised, collapsed after coming up the lane to the house. State Police in charge of the case said they could give no details until they had opportunity to question her. Sister Reported Abduction Lucy Brown, 15, told late Wednesday of her sister being seized by two "foreign-looking" men who offered them a ride while they were on their way home from school. Lucy said she broke loose, dodged through a hole in a fence and ran across a field to her home, where she telephoned police. Two pairs of suspects were questioned by Washington officers but re(Continued on Page Three) •\ /\ Shopping Days 1«/Till Christmas Williams at Theater Twenty-throe members of the Hope High School football team' were guests of Jr. Williams Thursday night to see 1 Farm Act Vote Is Clarified by Agent Adams Describes Issue and Effect of Vote on December 10 By OLIVER L. ADAMS County Agricultural Agent, Hempstead County , With the referendum on cotton marketing quotas for 1939 scheduled to be held on December 10, every cotton what a marketing quota is and how.it grower should understand clearly affects his farm.i Marketing quotas for cotton are provided in the farm legislation now in effect, to be used by producers when the total supply of cotton exceeds the normal supply by 7 per cent. Normal supply is considered to be a normal year's domestic consumption and exports plus 40 per cent of that amount as an allowance for a normal carryover. To become effective the marketing quotas must be approved by a two-thirds majority of the cotton producers voting in the referendum. If quotas are voted into effect the quota for an individual farm will be the actual production or the normal production, whichever is the greater, of the farm's cotton acreage allotment, plus the amount of cotton which the farmer has on hand form a previous crop which would not have been subject to penalty if marketed in 1938. While the rule for figuring th'e amount of the quota is the same (Continued on Page Three) _ , . vwefie eoosriwG- HARPING- T OOKING BACK TO CHRIST*-". MAS 19 YEARS AGO— Ohioans 'were boosting their Senator Warren G. Harding for President. . . . With coal famine threatening cold Yuletides, Kansas governor called for 1000 volunteers to dig coal. . . . Country in grip of crime wave, with 300 murders in year for Chicago alone. . . . Fear that kaiser would return to rule Ger* many. . . . Steel industry •tunned by passing of CaumegUk and

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 11,800+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free