The Courier News from Blytheville, Arkansas on September 29, 1950 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

Blytheville, Arkansas
Issue Date:
Friday, September 29, 1950
Page 7
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TW Notioii today: V«yr t*ftk A*c*«iit ' '" BLYTHEVILLB (ARK.)' COURIER NEWS 1 ' • ' ','"•- ' • . ' ' Uncle Sams Banking Insurance Extension Boosts Protection Bjr JAMES SIARLOW WASHINGTON, Sept. V). (/P)— Are your savings in a bank or sav- lng« and lo^n association? . It so,. the government now has Increased Its Insurance—» guairan- t« against loss of your money— from »5,000 to $10,000. This went Into effect Sept. 22, wnj*"president Truman signed into 5»w a bill passed by Congress to glv» depositors greater protection. ' Until Sept, 22—no' matter how much more than * you had in anyone'bank or association covered by this Insurance—you could be sure of getting back no more than $5,000, if. it failed. To put It another way: you might, have had $S,OOa in each of 10 banks and been insured In each but you could not get insurance on i more than $5,000 In. any one bank. This increase from $5.COfl to $10.000 In insurance probably will result in more people putting more of their money In one bank. This government insurance covers most banks and savings and loan associations, but not 'all, Government KnUrs In 1933 The government first stepped into this picture back In 1933 when banks crashed and a lot of people lost their life's savings The government reall/ed then people needed some protection a- galnst such losses. At the same time It was Important that people develop renewed confidence In banks and savings outfits. So in 1933 Congress passed a law setting up the Federal Deposit Insurance corporation (FDIC) to Insure people's bank deposits. * ^3tf in 1934 It'created 1 the Fed- ei^MSavlngs and Loan Insurance Corporation (FSL1C) to insure accounts in savings and loan associations . '. . •- Stnc« .1935 the* FIDO has hail to help 410 Insured banks which failed or were falling. DcpoaJlon' .Money Saved And It has handed out $360.000.000 to depositors whose money, without this insurance, would have been lost. Th« FDIC haj recovered, or will recovw, air but $26,000.000 of this money. How? Once It. stepped in, It could take over the assets of the failing banks and so. In time, re- cover-jno«t of the Insurance money > DE SOAP —This 7- Joot T tall Venus de Milo, a failh- Jul copy of the original, turned up in • soap-carving contest held in a Tokyo department •tore. The little Japanese girl »t left is figuring how many Saturday nights the 1000 poundi of soap would last. Concrete Cutvert Tile Sizes up U 3« In. Corrugated Metal Culverts Sires op to M In. Anlomalic Flood G»<« Concrete Septic Tanks Metal Seplic Tanks Sewer Tile **»' 'rices We Deliver A. H. WEBB Highway M ,| stale I,ln« Phone 1H •I "* - r OUT FROM UNDER-Youngsters bid a tender farewell to thes«' burros at tl7e Children's Playground in San Francisco's Golden Date Park. After spending years toting kids around the riding ring, 30 of them are being retired to a nearby rest ranch wher« they U spend their old age amid ceace and plenty. RFC Changes To Be Sought, FulbrightSays WASHINGTON, Sept! 2». (ft— Senators Investigating the Reconstruction Finance Corporation (H re) will ask Congress to overhaul, but not abolish, this huge gowni- ment lending agency, senators Fillbright. m-Ark) said today. One objective, he told repot -lets. will be to stiffen RFC'S resistance to political pressure for loans. . !|i recent months the MX agency's ending policies hnve been under lire from a Senate banking subcommittee, headed by Fnlbrlsht which has been Investigating many of the loans made to business concerns, . Fulbrighi said Ihe subcommittee Is at work on legislation for submission to congress when It returns Nov. 21, Although 'only tentative anil Incomplete drafting has been done «o far, Fulbright s(< ld the measure will attempt to remedy what he called RFC's present defects. Among other things, he said It would give the RFC less freedom In handing out loans, bring Its powers within more rarefully defined bounds nnd require more detailed reports on loans that are approved. Truman Plans Way to Keep U.S. Alert to Continuing War Danger By El.TOX <i. FAV *. ^ It put out. " FSLIC his had to bail out seven loan associations since 1934. H paid out $6,706,000 In Insurance on 7,700 • counts and will lose' only »310,000. But neither the >TDIC nor PSUC Is out any money. That's because all the insured banks and associa- tlon« have to pay FDIC and FSL.JO for the Insurance. They pay W of one per eerit on the average amount of deposits or accounts during the year. FTHC Ha. Surplui The FDIC now his a surplus of $, The FSUC haj, 1901000.000 In surplus and reserves. The amount of deposits In Insured banks now is around $154000,000.000, representing 104,000.000 accounts.' • All but .bout J.OOO.OOfl of them will be completely covered by the FDIC Insurant The 3,000,000 are mostly big corporations and insurance companies. (P^rt .of ^ttaefcviJeipdiitj, of course, IB - b» ; kiitnd: "'up- ••%?•• th« "Jfcit •10.300 !• Mefe hank.)-, ., Nearly f ,MO.OM. piopit h»r« $11,000.000,000 in accounts In savings and loan associations covered by FSLIC insurant*. - ' Thompson Talks To Holland Club •I. L. Tliompson, Jr.', of Blytiie vllle was principal speaker last nigh at the Holland Rotary Club whlcl met in the home economics bulldini of the Holland High School. Mr. Thompson spoke on variou types of insurance. He was Intro duced fay Joe L, Coleman. Don C. Davis of Carutheravlll. was a guest al the meeting.' FAOC trnm Bf.EI.TON C, FAY Ar Military Affain WASHINGTON, Sept. ». t ^_ President Truman Is setting | 0 , h | s administration the task of keeping the people alert to the continuing danger of war without also touch- Ing off some unpleasant mass psychology. ' ' ' He says there Van not be any letup In Defense preparations after the Korean war Is over, but that he expecU opposition to continued expansion of the program. But he didn't tell a news conference yesterday how he and his defense and diplomatic chiefs would go about, keeping the defense program alive. ' . 'JTie President says he hopes the peace which he has long sought will be realized. K may be an uneasy peace, at least at the outset and perhaps for years, Or It could be only another Interlude between wars, like (hat which endcrt with Communist OH- Siession In Korea last June 26. It Is lo be prepared /or such possibility that Nfr. Truman wants the country lo be well armed. Americans Lose Iniereif No administration .ever has been able to keep the American people interested in military matters when Ihere'wasn't a war In progress. Mr. Truman may have more success. However, he will have to reckon with some old- as well as new factors. There Is the national apathy, the dislike of laying out money and military manpower when no conflict, actually exists. To counter this, the government must show why It believes another war may lie-munched against the United states and Its friends. And it also must tell what that war could be like. . Here lies the danger o< producing mass fear. A SOI.D1KR WEEl'S IN KOREA-An American Infantrymen, his buddy killed In action, weep* on Vhe nhoulder of another soldier somewhere In Keren. Meanwhile, a cotvsman go«5 aboijt the business of filling out casualty tags, (Department of Defense Photo via AP Wlrcphoto) slnn to war Is stimulated now. by the fear of tcclmoloRlcal weapons which the UriKcd states Itself has produced. The worry Is that they also may he used by an enemy. There are undertones of apprehension, signs of national nervo'u*- ness. A high smoke pall from a Ca- goes a long way because h'f Double-Rich KENTUCKY WHISKEY -A BLEND M proof, 70% ar.In n.utr.l ,piriu. KEROSENE & FUEL OIL Dial 4091 or 740 r* •—,, iic.-v-i. ft inyii smoKe pan From R Ca- .Paradoxically, the Amertoinjiver-J nariianjoresl fire brings telephone calls to newspaper! by people who believe It evidence of atomic explosion or bacteriological warfare. A meteor falling (M meteors have been doing for some millions of years) becomes a guided missile or atom bomb. The government has Indicated Its concern over posulble reaction of WM, nw M. 'A, Lytuh w. Mill for divorw. ' Marlon K. Towlw M. Towlei, suit 'for' divore». Mary Lou I*. Holllfa* m Holllgan, suit for divon*. Marriage LicenMi The roUcnrlnc Mupte eMife marriage tlceruw ymUrda/ >i offic* of Mij* Hlmb*ih county clerk: • -••' i Raymond Lucy o<' M«Btti i Mrs. Haul Taylor of BatwriJJ*. lh< people to wartlm* American eltlei, RtporU bpoki on civil defenw in met «rf atomic attack have emphui»4 UM need and method* for nr*v*ntfiM panic. .- . , . It may be that tin atom bt«* has scared mor« Amerlttni ttua Russians, Perhapa that \t bw Americans, not being acreerwd facts by a controlled prw, know more about atom bomb* th»n 4» Ru.ulans. .. • JUST LIKE NEW! Expert Shoe Repair I H-flLTCRS IQ'JULITV SHOE Su W M « I Is; Shirley Hipp FRIENDLY lAGNOLIA DEALE MEET METAL WORK• OF ALL KINDS Cmtom Wor d for gins, alfalfa mills, oil mills. Custom Shcarini mp to 1/4 inch thicknCM. Frank Simmons Tin Shop 117 South Bn>arlw»y Phone 2651 Does Your Speedometer Read Correctly? For safe driving, belter check on It. We give one- day service on speedometer repairs for any make or model car or truck. Drive in today. T. I. 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Eosy lo apply. c»v,r« 100 ^. It RUGGED 3-TAB HEXAGON SHINGLES Giv» yo«r roof exlro beaury and pro- lection. C*ramic-surfac»d asphalt— resist craching, pteling, drying out, nre. Easy to apply. Choics of color. c.v PAINTED INSULATING §OARD 4 h> !• shett 2 Bulldt, decorates, daadeni »ound, kitutales. N'o warp or lag. Ul« o»-ii. 'A' thick. STURDY BUILDING PAPER 1 QC C.r. too,*. A. I «O^J rrfi .- Fadeproof wall cover—pro-l tcclt against heal, cold and dusl. Choou your pattern! ASPHALT ROOFING; 53-LB. Smooth m!ca-Urff long servk* in afl ti»h flrt f Prk«<). kiwi

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