The Courier News from Blytheville, Arkansas on September 15, 1954 · Page 3
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The Courier News from Blytheville, Arkansas · Page 3

Blytheville, Arkansas
Issue Date:
Wednesday, September 15, 1954
Page 3
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WEDNESDAY, SEPTEMBER 15, 1954 BLYTHEV1LLE (ARK.) COURIER NEWS PAGE THREE Senate Group Probes Reports of $14 Million FHA Building Windfalls CHICAGO (AP) — The Senate Banking Committee (today studied a report that builders reaped .windfalls totaling nearly 14 million dollars on 40 housing projects financed by government-insured loans. The new list of projects was submitted bv Federal Housing Administrator Albert M. Cole yesterday as the committee began three days of Chicago hearings on FHA operations. Cole said the windfalls — or extra profits' — represented the difference between actual construction costs and loans based on excessive FHA estimates. Among the projects listed by Cole were three in which he said a trio of New Yorkers had parlayed a personal investment of $90 into a profit of $735,434. Another group of New Yorkers with an investment of $10,000 made a windfall of 3Vo million dollars, the administrator said. Projects Listed The FHA official told the committee headed by Sen. Capehart (R-Ind) the new names supplemented a similar list issued June 4. The three projects involved in the $90 investment, Cole said, were the Brookside Gardens, Inc., of Somerville, N.J.; the Hill Development Co., which constructed Oakland Gardens at Bayside, N.Y., and the Springfield Development Co.. also of Bayside. Alabama Farmers Plowing Up Iron Ore for Mills . BIRMINGHAM, Alabama farmers are Ala. UP)—South plowing up acceptable iron ore by the ton and shipping it to North Alabama steel mills. More than 1050 carloads of iron ore have been shipped from South Alabama pastures and cotton fields since January, the Central of Georgia Railroad magazine says. The ore is plowed up and the deposits scooped by mechanical shovels. The FHA officer listed the^ investors as Benjamin and Harry Neisloss and Benjamin Braunstein, all -of"Jamaica, N.Y. The list disclosed that the three projects were to be built at a total cost of $8,384,666. Government insured mortgages on the projects totaled $9,120,100. Capehart asked Cole if the $90 investment on the three projects was correct. "That's what the investigation shows, replied Cole. Capehart commented: "Well, that's the limit. That's the lowest investment we have seen yet." Overestimation Cole's list showed that five other New Yorkers netted a windfall of SV-j million dollars on an investment of $10,000. A Columbus, Ohio, project Beverly Manor, also on the list,-- showed seven persons invested a total of $4,000 and realized a windfall of more than one million dollars. The project was government insured for $7,772,046. The FHA list also named Larry, Martin and. Emily Fisher of Kew Gardens, N.Y., as recipients of a $903,495 windfall from the Woodbriar Manor project at Elmhurst, N.Y. Cost of the project was reported as $3,963,805 and the mortgage loan as $4.867,300. The paid- CUESS WHAT?—if you think this looks like a pretty flower opening its petals in the early morning sun you are wrong. It is a rattlesnake with its jaws open, and deadly venom dripping from the fangs. Dr. M. S. Mosquara. of Argentina, made this remarkable picture, looking down the throat of the rattler. Caruthersville News By SONNY SANDERS Kaffka. Henry Woods and family were called to Hornbeak. Term., on Sunday by the serious illness of his mother, Mrs. Sallie Woods. Mrs. Mona Moore of Osceola is the house guest for a few days this week of her brother, Mr. and Mrs. Bill Ralph of Joiner. Joe Willie (Buddie) Felts, son of Mr. and Mrs. Joe Horace Felts, left Sunday to begin his sophomore Mr. and Mrs. Arnold Kimberlin and family spent Sunday with her parents, Mr. and Mrs. W. R. Saw- j year at Arkansas State College in ' Jonesboro. Mrs. Lucille Lowe and her son and family and Mr. and Mrs. Harold Jones and two children, all of Memphis, spent Sunday afternoon yer. of Millington, Tenn. Mr. and Mrs. Hubert Seymour sons were Sunday guests of and The Silver Star is awarded for Bill Ryalls of 82nd -Airborne Di- j gallantry in action which does not vision at Ft. Bragg, N. C., and warrant award of the Distinguished wife of Arkadelphia, were house guests for a week at the home of his parents, Jewell Ryalls of Bassett. Bill has returned to duty and Mrs. Bill Ryalls. has entered Henderson College in Arkadelphia, where she is a senior majoring in education. her sister, Mrs. Herman Ethridge. and family of Memphis. Mrs. Charles Parish of Paragould is a house guest of her sister, Mrs. Myer Silverstein. Mrs. Walter Glover has returned to her home in Joiner after being in Memphis at St. Joseph's Hospital for surgery for the past two weeks. Her daughter-in-law, Mrs. Walter Glover, Jr., of Memphis., is staying with her for a few i weeks. J Mrs. Rosamond Banks of Joiner | and Mr. and Mrs. Bill Hosey of| Memphis were in Biloxi, Miss., for' a week end recently. I Mrs. Helen Reddoch returned onj Sunday from a visit with her j daughter, Rose, in Dallas, Texas, i The Rev. w. K. wnorton. profes-! sor at Southern Baptist College in! Walnut Ridge, held both morning and night services at the Joiner i Baptist Church last Sunday in thej absence of the Rev. Leonard' Population of the United States probably will increase 50 per cent in the next 50 years. Service Cross. Double Relief I for MISERY of Dry E««mo . Ivy Common R«sf, . Mirvor Skin lubricates « it RESINOL 8SSS with Mr. and Mrs. Jewell Ryals of Bassett. Mrs. John LaRue and infant daughter, of Brinkley have returned to their home after an extended stay in the parents, Mr. and home Mrs. of her Jewell i Call PO. 3-3531 """ BAD PICTURE TUBE? ONE OF OUR MANY EXTRA SERVICES Our new process will repair and restore it (in most cases) —at no additional cost! ELECTRONIC LAB 111 W. Walnut — Blvtheville DO YOU KNOW —What is the first name and middle initial of Mr. Sanders, President of PEPSI COLA BOTTLING CO. Of Blytheville? , . . Who is the production manager? The more folks with whom you "get acquainted"—tile more enjoyment of life will be yours. In business and in social contacts "knowing the persons BT THEIR NAMES" is most important. "LET'S GET ACQUAINTED" , . , wilJ feature PEOPLE, those friends of yours at our places of business who serve your daily needs I I. ' in capital stock was listed as "unknown;,, , William Sorgatz, former chief architect for the FHA at Chicago, testified about the financing- of two 22-story apartment buildings on Chicago's Lake Shore Drive. Sorgatz said the FHA officials set a higher construction cost estimate oh the project than the sponsors •did. The FHA estimate was.$8,600,000 and the other one was $7,100,000, which approximated the cost of the buildings. William Simon, chief counsel for mation by the FHA -will cost tenants an additional $100,000 a year In rent. "Old Baldy' Pleads Sorrowful Case CATTERICK, England (/P>—Pvt. William H. Mclntyre, hairless at 18, told a court-martial yesterday he ran away from the British Army because other soldiers called him "Old Baidy." Mclntyre had official permission to wear a paratrooper's beret until he could get a wig. But he said noncoms who did not know this were constantly forcing him to bare his nude skull. The unhapoy private, who gave himself up after -four months, pleaded guilty to being absent ,. without leave. He was sentenced to five days in the guardhouse. WARNING ORDER IN THE CHANCERY COURT, CHICKASAWBA DISTRICT, MISSISSIPPI COUNTY, ARKANSAS Robert A. Freeman (Col.), Pltf. vs. Uo. 12,766 Katie Lee Freeman (Col.), Dft. The defendant, Katie Lee Freeman, is hereby warned to appear within thirty days in the court named in the caption hereof and Young 'Couple 7 Go on Market Shopping Spree SARTANBUBG, S.C. UP)—Shoppers in a crowded supermarket here yesterday forgot their own shopping problems as they watched quite a young couple select groceries. The "husband", pushed the grocery cart as the '"wife" selected an assortment of candies, cookies and odds and ends—with colorful labels. When the couple had finished, the cart contained S25 worth of goodies. The store manager intervened and engaged the couple, Billy Burnett and Betsy Bell, in conversation about domestic problems until their parents called for them. Billy is 4, Betsy is 3. SPECIALS Watchful Washington The Washington Elm, near the Senate wing of the United States Capitol, survived until 1948. Under it. Washington is said to have watched construction of the Capitol. answer Uie complaint of the plaintiff, Robert A. Freeman. 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