The Courier News from Blytheville, Arkansas on June 2, 1949 · Page 10
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June 2, 1949

The Courier News from Blytheville, Arkansas · Page 10

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Blytheville, Arkansas
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Thursday, June 2, 1949
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Page 10
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PAGE TEN BLYTHEVTLLE (ARK.) COURIER NEWS Missouri Senate Passes Loan Bill Top Interest Rate Hiked 12 Percent Over House Measure JEFFERSON CITY June 2. IIP}— A small loan, interest bill wltli a top rate of around 30 per rent was passed by the Missouri Senale yesterday. It wa.5 returned to the house and heads for a conference committee fight laicr. The top rate of a Home-pB.wed bill was !8 per cent and in several votes the house Indicated Ihat was as high as it would go. The senate version carries a three-R'ay charge on loans up to <#»: 1. One and a half per cent a month interest or 18 per cent a year. 2. Three cents a da.v service charge on each $100 or about 10.8 i per cent a year. 3. A $2 charge on each loan to cover the cost of preparing papers. Sen. Floyd R. Gibson (D) of Independence said this v,-ould total about 23.8 per cent a year plus the $2 fee. On loans between S-SCO and S600 the rate would be eight pei cent a year plus the three-cent a day charge plus the S3 fee. Gibson estimated that total at 262 per cent, plus the $2 fee. Six "N'o" Voles The vote sending the bill to the house was 23 to G with these six senators voting agninst it: Richard J. Chamier (D) of Molj- erly, Edward J. Hogan, Jr., iDl of St. Ijouis. David E. Iforn (R) of St. Louis, Edear J. Keating i D) of Kansas City, John W. Noble fD) of Kennett and Robert E. Pentland (D) of St. Louis. Keating attacked the 23 per cent rate as outrageous and unconscionable for secured loans. He tried unsuccessfully to eliminate from the bill any loan covered by a chattel mortgage or by co-signers—required ordinarily by small loan firms. 'If they take security they've not entitled to any higher rate than /or ordinary loans." Keating said. "I see no reason a secured loan nhould bear this unconscionable rate." His amendment waa defeated, on ft 10-17 standing vot«. IN TEXAS THEY'RE BIGGER. NATURALLY—Harry Johnson, airline foreman in Dallas, looks over the battered nose of a DC-6 which was pouncted by a freak "Texas-size" hailstorm over the western part of the state. The Los A-neelcs-bound plane returned to Dallas where passengers boarded another flight. American Legion May Create Own Vet Service Office LITTLE ROCK. June 2. M>,_The Arkansas Democrat said yesterday that the Arkarisas American Legion is planning to create a Legion-financed service office for Veterans July 1. That is the date that Joe L. Hearne, state Legion commander, steps down us director of the state- financed. Legion-sponsored service office. The paper said the Lesion's Executive Committee had voted to set up the office at a secret meeting last Sunday, and that Hearne had called a meeting of a 7-man committee for next Sunday to name a rehabilitation director to administrate the office. Hearne is a candidate for the job, the paper added. Governor McMath announced several weeks ago that William G. Smith. Little Rock, would replace Hearne as director of the State Service Office, and the Democrat said that Hearne "was said to have been on the opposite, side of the politic! fence from McMath In last summers' elections." Members of the 7-man committee are: A. B. Carter, Marion; Jack fiyor, Pcxahonfas; R. C Bcenc, Harrison; Loyd Been. FY>rt Smith: Ed Ixjvctl. Little Roth; Frank Sciiaefer. De-Witt and Dale Lcdoet- ler. Pic.-rcotl. i The slate Leclon convention Ls [ to be held shortly alter the Legion ' Service Office is created. j THURSDAY, JUNE 2, 1949 Dazzles Neighbors 'I-asl week mv backyard became the showpiece of the neighborhood," says Mrs. William Cummeroir, 21-1 Sunset Blvd., Toledo, "because it was the first Perk wash I'd ever hung out on the "line -and it was hterally dazzling white. What with al! the compliments I Sot. I wouldn't use anything else nfiu' — besides. Perk saves me money to boot/' .Mrs. Cummcrow's experience proves, like 121S wa?King tests before her, that Perk washes better . . . faster . . . and saves you money. Only Perk contains miracle washing ingredient, Armocel, I^et Near Perk jo to work lor you today. W TUESCUOdl BAND/ FREE SUMMER COURSE Wnnl to pla.T In (lit Dlvlhcville High Si-liun) Band or in the communil.v hand-' Tills summer jou h:ivc jiisl (linl opportiinily. 1,'iulcr the direction of Uolicrl I.ipsr(imh of the niytlirrillc Ilish Scluiol nc'rc nfTcrinx this spccinl Ircc course . . absolutely free unless ,vnu wish to rent an instrument, in which case then will be a small rental Ice. As far as the liijh seliool band U concerned, (here will be instruction for hcsinnerj. intermediates, and aitviiucctt b;u;d stuilcnts. Then, in addition, (here will br n community clasj nne niijW each neck. Why nol Investigate now. 1 ( lip out ami mail this registration IrianX tmkiy. i!i;(;isritATio.\ BLANK. 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