The Mason City Globe-Gazette from Mason City, Iowa on March 30, 1939 · Page 19
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The Mason City Globe-Gazette from Mason City, Iowa · Page 19

Mason City, Iowa
Issue Date:
Thursday, March 30, 1939
Page 19
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Page 19 article text (OCR)

MASON CITY GLOBE-GAZETTE THURSDAY, MARCH 30, 1933 · -- __ -. ^^ vmj±,^~unuwi. j.^ THURSDAY, MARCH 30, 1933 ^(J ^ionalPresident^fJumo^hamber in Mason City April 12 ----* ,, LOANS MADE TO 701,000 IN HOME OWNERS'AGENCY J. P. Manley Tells KGLO Audience of Corporation's Work J. P. Manley of Mason City, property management broker for the Home Owners' Loan corporation, explained the operations of the organization in a talk on the North Iowa Forum over KGLO Wednesday evening; His (alk fallows in part: n a The Home Owners' Loan corporation, now In its sixth year of operations, is well on its way toward the goal set by congress the salvaging of the nation's home owners who faced the loss of their properties dring the depression. Today, more than 701,000 borrowers, all threatened with foreclosure at the time "HOLC stepped into the 'picture, are in satisfactory standing. Nearly 588,000 are either entirely current or less than three months in arrears and 113.003 others not only are meeting all regular monthly bills but, in addition, are making regular monthly payments on their arrearages. About 126,000 other borrowers are making adjusted payments which give hope that they, too, will be enabled to "come through" and nearly 44,000 accounts, amounting to 5101,000,000 liave been fully liquidated and crossed off the books. Loans Paid Off Borrowers have paid back more than 5500,000,000 of their entire principal indebtedness; about 90 cents of every dollar due has been paid to date, with collections now aggregating about $1,030,000 in principal and interest every working day. The accomplishments of the corporation, however, are not confined to the relief it extended more than a million home owners in the form of loans. Officials Greet 300 Salesmen, Dealers at Dinner tion advanced before the close of its lending period, June 12, 193G, went direct to individual mortgage lenders, keeping them, too, from adding to an avalanche of foreclosures which had mounted to 1,000 a day. Borrowers Save Money The corporation saved Its borrowers $200,000,000 in concessions it was able to obtain for them from mortgage holders at the time of refinancing. It directed the spending of §73,000,000 for repairs which made their homes better investments and sounder security. And it paid $229,000,003 to wipe out delinquent taxes. It is estimated that HOLC borrowers to date have saved $175,000,000 in interest alone--the difference between the amount they have paid lll?h officials of the Mid-Continent Petroleum corporation iniro- *- duced the new 1939 products to more than 300 dealers, salesmen, chief contribution was toward the reformation of the entire mortgage structure of the nation. Its 15-year, 5 per cent amortized mortgage has revolutionized the home mortgage field. It swept away the old and burdensome second mortgages of HOLC borrowers--and the second mortgage is virtually disappearing from the American home- financing picture. The old short- term loan--renewable only at high fees and which the average home owner rarely ever paid off--also taking mortgages totaling S332,- 400,000 from banks and trust'com- panies, 5767,900,000 from savings and loan associations, 3132,000,000 from finance and mortgage companies, and 5164,600,000 from insurance companies, it made those institutions liquid and allowed them to grant leniency to other distressed home owners. The rest Owns and Sells Homes The HOLC at the present time owns_ 88,576 homes. It has sold 34.595. These homes--representing only about 12 per cent ot the number HOLC refinanced--were acquired only after every effort to save their owners failed, it is estimated that 18 per cent of 'the homes acquired were abandoned H-M-M FRUIT MARKET 1 1 th ond North Federal HEAD LETTUCE, Fancy Heads. . . . CELERY, Large Stalks ! RADISHES, I 3 Bunches Fresh TOMATOES, Fancy, 2 Ibs BANANAS, Extra Goad, 5 Ibs 25c GRAPEFRUIT, Lar 9 e Size, 10 for . . , 2 5c ORANGES, Extra Good, Each lc RED PITTED CHERRIES, No. 10 Can. . . . ; . " " ','. . . 4 9e PEACHES, Lcrge No. 10 Can ^ 35c BLACKBERRIES, Large No. 10 Can . . . . . . . . 39 C OMAR FLOUR, 49-lb. Bag $1.49 POTATOES, Good, 100-lb. Bag ' . 5]'39 OXYDOL, Giant Pkg . . . . . . 53c SODA CRACKERS, 2-lb. Caddy PEANUT BUTTER, Quarts 25c jG/ohom CRACKERS, « f- J2-lb. Caddy 15C |MILK, Tall *-^ ICons, 4 for ZJC MR. FARMER: BRING US YQUR EGGS LUKE B. MILLER, U. S. A., Mgr. oiria ·' AT ~r-~'ci,"' i-- "',"·:".""' """"Bcr siauon operation, Tulsa, Okla., M. C. Shipley, advertising manager, Tulsa, Okla.; and R. C. Oroffimn, sales promotion manager of the southern division, Tulsa, Okla. (LocU photo, Kayenay ongravinj.) New Oil Product Launched at Mid-Continent Dinner 300 Salesmen, Dealers Hear Company Officials Explain '39 Campaign Predicting that the approaching o t h s o f borrowers a n e of heirs to assume their obligations, or through legal complica- iwccii uie ainouni iney nave paid iiuai, ui iiuougn legal compuca- under their 5 per cent rate and tions. The largest single block of the higher rate on which they ori- foreclosures resulted ' c i t h e r Predicting that the approachii ginally obtained their mortgages, through default of those able to spring and summer months w But perhaps the coropration's 1;ee P their contracts, or utter re- herald the nation's greatest seasi Chief COtltl'ibritinn \vn; inwnrrl fhn fusal to CO-ODeratp tn thp hpsf nf nf inm-ici mnin^ +,·-,,,«! 15 \\i ni fusal to co-operate to the best of their ability. Only a minority of foreclosed HOLC borrowers lost out through sheer inability to pay As rapidly as the HOLC has acquired homes, they have been placed in condition to yield income. Its reconditioning forces are spending about $100,000 each working day for that purpose and to recapture values lost through depreciation; in all, S4r.000.000 has been expended to improve such homes, making a definite contribution toward safeguarding neighborhood values. Of the homes the HOLC holds, available to yield income, 88% are rented: 98.8To of the renters either are current or less than a month in arrears. Although the HOLC was created to meet an emergency, its officials have sought to make permanent contributions toward a more secure home ownership in the future. % Selfish Interest The HOLC has a selfish interest in programs to better home construction and protect home investments, since it owns a vast number of homes and has mortgages on hundreds of thousands more- all of which are affected by any decline in property values. But in a broader sense, it is seeking to protect not only itself and its bor- rowars. but all home owners of the future from the conditions which contributed to the necessity ot establishing the HOLC during the most desperate period of the depression. The corporation now is operating entirely within its own revenues. Its annual "appropriation" merely is a limit placed on the expenditure of its own funds. It hopes to complete its task with little, if any, further drain on the treasury or taxpayers--barring unforeseen economic difficulties or a change in the policies under which it now is being administered. Athlete Called "Judge" MILWAUKEE, Nagle, popular reserve forward on the Marquettc university basketball team, didn't play in a single game last season. He drew from his teammates the nickname of "Judge'* because of ''his long and faithful service on the bench.'' INCREASE SHOWN IN IOWA STATE BRAND BUSINESS Plans for Big Butter Advertising Campaign Are Discussed Increases in the volume of goods handled was registered by iocs nanaied was registered by *»" UI »»'B, wno arra 1 departments of the Iowa State Deling s vlsit here - rand Creameries, Inc., accordin" ollowing a period of months will -_ neatest season of tourist motor travel, R. W McDowell, Tulsa, Okla., vice president in charge of sales for Mid- Continent Petroleum comporation, announced the new solvent processed Diamond 760 motor oil to more than 300 Diamond salesmen, distributors, service station operators and dealers at n dinner meeting held in the Hotel Han ford Wednesday night. Announcement of the new product, which is refined by a patented solvent process at Mid-Continent's big Tulsa refinery, was made in connection with presentation of Mid-Continent's 1930 advertising, sales promotion and dealer helps program to the gathered salesmen. Depends on Oil "No machinery is a success until the oil industry has made a proper lubricant," Mr. McDowell explained in pointing out that the cars of today and o£ tomorrow have higher heats and greater friction speeds. He also explained the hundreds of laboratory tests that were necessary in developing the new oil to comply with the needs of the modern automobile. "You and I will be paid in proportion to what we do'/ S. B Calc!well. Tulsa. Okla., manager of the southern division, pointed out to the salesmen and dealers in urging them to take advantage of the opportunities in 1939. Points Out Opportunities The southern m a n a g e r explained that the first opportunity to be noted is the faqt that we are American citizens in a land of opportunities. He referred to history and pointed out that the first persons to arrive in America came because it was a chance to mold their own world. Mr Caldivell lives in a new reminded the the What makes men great sad famous',' Well, your favorite comic strips are the ones your favorite newspaper happens to print every day.--Kcwanec Star Courier. KEEP HEALTHY EAT MEAT FOR BREAKFAST salesmen and dealers that t ,, t American resources had been developed to a large extent and we should take advantage of this fact to make each year greater than the last. He also cautioned the salesmen to do everything to retain customers, whether they live in or out of the state, for the benefit of all Diamond dealers throughout the United States. Motion Pictures Shown Two motion pictures. "Riding the Film." and "A r o Motor Too Hot," were shown at tiie meeting. The latter picture was taken during February at the Diamond re- inery and shows how the product is made and why it has '-free- rolling ball bearing action." . The advertising and sales promotion program for the coming months was presented by M. C. Shipley, advertising manager, and A, P. McGrath, sales promotion manager, both of Tulsa. Meeting chairman was P. I. Adcock. Waterloo, assistant manager o£ the company's northern division. A stage play and an elaborate entertainment program also were features of the meeting. BACON GENUINE HICKORY SMOKED LEAN--SWEET--MILD · AT ALL, BETTER STORES · LOIS L, PETERS SEEKS DIVORCE Suit Filed Only 10 Weeks After First Child Was Born Ten weeks after their only child was born Lois L. Peters of Mount Vernon township filed suit for divorce in district court here Wednesday against Ray A. Peters on grounds of cruel and inhuman treatment. The couple was married at Nevada on Jan. 7, 1938, according to the petition, and Jived together until March 28, 1939. Their son was born on Jan. 17, 1939. Her husband "has a violent temper, is addicted to excessive drinking and is very abusive toward the plaintiff ·and their baby." Mrs. Peters alleged in her petition. She asked $200 temporary alimony and S100 for atlornev fecs and S30 a month support .. »_.. .v.- _uiu ;«-.«.. jiT,.-,.,, PHILIP EBELING TO TALK BEFORE LOCAL DIVISION Will Be Second Visit of National Head of Organization Arrangements have been completed for an address in Mason City Wednesday evening, April 12, by Philip C. Ebeling, president of the United States Junior Chamber of Commerce. Mr. Ebeling, who is scheduling a tour through the midwest, will appear before the local Junior division ot the Chamber of Commerce. Mr. Ebeling, an attorney at Dayton, Ohio, has been prominent in Junior Chamber activities since 1333, engaging in a number of projects in his home town and later in state and national activities. While he was president of the Dayton organization he increased the membership from 65 to 225 and led the organization in 25 projects. After serving "as president of the Ohio Junior Chamber, lie was elected a director of the United States Junior Chamber, a similar position to that now held by Jay Tubbesing, who arranged Mr Moking Tour of Midwest Brand Creameries, Inc., according '.o reports at the quarterly meet- ng Thursday, attended by representatives of most of the 70 member creameries. Roy W. Storviclc, manager, stated 15,500,000 pounds have been handled for the nine months since the beginning of the fiscal year compared with 13,500,000 for tiic corresponding period a year ago. J o h n Christensen, assistant manager, to!d the meeting that the sale ot creamery supplies has shown a similar increase. E. C. Willey said 2G2,779 pounds ot cheese had been sold in the past nine months, an increase of -0 per cent over the corresponding nine months of the previous fiscal year when 222,748 pounds were sold. Appreciates Quality The increase in butter sales has been made in the face of a surplus supply, Mr. S t o r v i c k stated showing the trade appreciates a quality product. "We have coutiued to operate on a profitable basis," he sa'icl. "It is evident, however, that with the market as it is we will have to be satisfied with a more modest profit than we enjoyed when the market was more favorable." A discussion of (lie new butter advertising program took place, with Julius Brunner. Osage. president of the Iowa Association of Local Creameries, explaining the provisions of the new advertising bill passed by the Iowa legislature. Provides for Tax This measure provides for a 1 cent a pound of butterfat tax on producers for the first 15 days o[ May in 1939 and 1940. If milk is sold without a butlerfat test the tax will be 4 cents a hundred. This tax, Mr. Brunner stated will make available from 5100,000 to ,5125,000 in Iowa for advertising butter. The fund i.s lo be used together with similar funds raised in Minnesota, Wisconsin and probably o t h e r states for 3 national advertising program to increase the consumtion of butter In all there should be from S500 000 to SGOO.OOO available for an advertising campaign, the Osage dairyman slated. Sets Up Commission Mr. Brunner explained that under the provisions ot the act a commission is to be set up, members of which will be selected by the producers themselves, to carry out the program. A. W. Rudniclc of t h e dairy extension service of Iowa State college at Ames told creamery operators to watch production costs. "We are not Eoinsr to have the easy time enjoyed up to now, when even haphazard business methods made money for creameries," he declared. "If we are going to get people to eat more butter and other dairy products, our advertising fund will be abso- wastcd unless \ve put out a " product." PHILIP C. EBELING national director, Mr. Ebeling was chosen vice president of Region III of the United Stales Junior Chamber. In that connection lie organized a Junior Chamber at Cleveland, which up to t h a t tinu had not had a group. He also in- WALTER HUTTON, SUNDAY SCHOOL SECRETARY, DIES Was Well Known in Mason City, Having Held Meetings Here Funeral services were being planned for Walter Hutton, secretary of the Iowa State Sunday School Council of Religious Education for 22 year?, who died Wednesday at his sister's home in Sterling, Kans., according to an A. P. dispatch. Mr. Hutton was well known, in Mason City, haying been here on numerous occasions. Button had gone to Sterling to recuperate for an attack of influenza. He was ,-i member of the Trinity Methodist church in Des Moines and was a Mason. Services are to be held at Des IVIoincp. with burial at Cedar Falls, Survivors include the widow, a sister and four brothers. formed a number of other local groups. The visit of Mr. Ebeling to Mason City will mark the second time in the history ot the local Junior Chamber t h a t a-national president has been here. The previous oc- ot Allen Xcw York Bean State ALBANY, N. Y., (U.P.)--New York state produced more than 144,900,000 pounds of beans last year according to the state agriculture department. Virtually all of the white marrow variety. white kidney beans, and half of the entire country's crop of vel- low-eye beans were grown in the Empire state. Wallpaper Bargains DISCOUNT OX ALL 1338 WALLPAPER S FRAMES MADE-TO-ORDER Any Size--Any Style Latest Mouldings RUSSELL PHOTO STUDIO Next J. C. Fcnncy Co. Corn Country, Deckers, Swifts Butter Pound $* Orders I?DC 1 1? ft Del'y'dff I%£jfil We Pay Cash for Eggs Phone 1 5 9 1 Prices Effective Friday and Saturday Butter-Nut Coffee I£26c2£49c Tomato Juice Cool Springs 2 No. ^ Cans 49 Omar Wonder Flour Pound A f 2Q B °9 · · . - V*»JX Kraft Miracle Whip, quart 39c Brown Sugar . and H. y Ibs. in J Cello Hormel's r Sealed' 1 Produ Kinds Cool Spring W. K. Com, 1ft No. 2 Can 1UC Noodles, 5 Oz. Can La Choy 14c Matches Strikalite Brand On 15C Shredded Wheat . N. B. C 2 fo r 23c Ritr Crackers N. B. C 1 Lb. .Box 21C Johnson's Wax Ib. can 59C Heinz Catsup 14 Or. Bottle Swans Down Cake Flour S: , 21c COMPARE/ Quality Meats 53c Extra Special Decker's V. C. fanned, small size, each Johnson's Glo-Coat 1 1-3 £ f t Ib. c a n57C Heinz Baked Beans In Tomato Sauce Large Can lOc Choice Quality Porh Chops, center cuts 22c Mason City Crystal 100 Per Cent High Quality Ground Beef, no pound 15c Ful! Rich Flavor Pound 17c Decker's lean, sliced, n*j Korn Kist Bacon. Ib. L / C Lean, meaty. Beef Pot Roast, Ib. . Prime qualitv, T-Boue or sirloi "' ......... ?Qp pound ............ UJ\~ Lean and meaty -I 7 Tork Steak, Ib ...... 1 I C Prime quality, Boneless Kib Boil 17c | Q 1.JC Decker's Smnkcc! Ha One-Half iir n i Whole. Ih L\ Loin End'. -f r Pork Roast, Ib 1 Heinx Best -i i Dill Pickles. 6 for .. I I Decker's 100'.';, -i i Leaf Lard. Ib II Hormei's Kingwurst «j' Bol., Ib. L. Serve hot or cold. Candy Bars 3 for IOC Smoked White Fish Kcady to -at. \ r pound Fresh Fish Fillets Haddock or Perch 10 Pounds in Cloth 49c Wheat Pophitts 5 ?K, 5c 17c Toilet Tissue Scot Tissue 2 RO.IS 15c Puts 25 times more s o a p right OB d i r t y s p o t s »«ITE mrtTi* S O A P * Glint Bars Garden Fresh Fruits and Vegetables Xo. I lrt;ilio Ku.-.U't POTATOES. n o In Mesh Bag, pk. O J C 5c Waldorf Tissue 4 Rolls 17c SPINACH, Ib. Son! Flush, Regular Can 19c LUX FLAKES Ice Berg LETTUCE, -j r 5 Doz. Size. 2 f or . . J. D C Large Fancy CAULIFLOWER, Each Bleach -- Deodorant Disinfectant Hi-Lex Quarr Gallon 18c 47c 19c Swift's Sunbfite. . . «· fs Cans Medium 9c Turtle Brand RADISHES, 3 bunches . . lOc 11 cake Urc Soap 1C j with 1 Urge package OXYDOL California Sunkist ORANGES, 16 Size, dozen . . 29c - 19c

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