The Courier News from Blytheville, Arkansas on March 25, 1932 · Page 5
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The Courier News from Blytheville, Arkansas · Page 5

Blytheville, Arkansas
Issue Date:
Friday, March 25, 1932
Page 5
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FRIDAY. MAUCH 25, 1932 \ aJLYTHRVlIAE, (ARK.) COURIER NEWS OF EIGHTJUI5 Wealth Ruled b.y Andy and His Brothers Equals Half of Natioal Debt. u. s. By NKA Service • PITTSBURGH. Pa.—Seven billion, nine hundred and ninety million, four hundred and twanly-flve thousand, one hundred and seventy-eight dollars is tin awful lot ol icioney.. It is nearly twice the amount ot: All the money In the treasury ($*,221.T.i*,850>. All the gold held in the U. S. treasury ($4,955.931.258). All the expenses ol the federal government In the year 1831 <$4219.950,339). ' All the money appropriated by Congress to rim the government duritiR the year 1932 ($4.014073,371). All the money In circulation in the United Stales ($4,821,933,457). It ,1s approximately half the amount of the public debt of the United' Slates I$1G.801.485,1«>. It is 16 times the annual fire loss in tlie United Slates ($500000,000). Mate Into 'goM bars the size of the average building brick, it would make nearly 160.0M - such bricks, valued nt $50,000 each. Distributed • equally among the population of the United Slates, it would mean approximately SC5 for each man, wouvin :n)d child. Yes. 57.090,425,178 is • rm awful loi of money—nnd this h Hie lat- rsl and best estimate of the vast family fortune controlled by Andrew w. Mellon, of Pittsburgh, retiring secretary of the U. S. treasury, who leaves America soon to lake up, his position as the new U. S. ambassador to Great, Britain. . • • • Tlvi fortune, according to a survey made by William Preston Beazell for* World's Work magazine! lies with three brothers: Andrew Mellon,- ! Richard B. Mellon and James R. Mellon, and iheir children. • j Andrew Mellon and Richard ' B. Mellon .are partners and heads of - the vast chain of -Mellon industries and banks. James Ross Mellon, now RG, is president of Pittsburgh's City Deposit Bank anrl ac. tive in 'many other lines of finance. • ' •>:-• The family fortune of tlie Mel- Ions is estimated as follows: 'Personal wealth, $500,000,030. Banks, resources at lost call,' $787,300,587. ' Assets of companies controlled outright, SI,120,707.530. (These >-• include • the- S4B8,000,POO. Gulf OIL .Corpora lion, the '$245.780,-, 667-- % Aluminum- ..Company., .of America, the Koppors Company, the Carborundum Company anri a dozen close corporations in various lines.) Assets of companies dominated through stockholdings and directorates. $1,506,612.225. (This includes the S334.460.80D United Gas Improvement Company the S24G,152,847 V.'rst- inghousc Electric & Manufacturing Co.. Hie Pittsbiirgh Coal Company, the Pittsburgh Plate Glass Company, the Westinghouse Airbrake Company, the National Union - Insurance companies and others.) Assets of companies dominated through stockholdings. S4.075.- 744,830. (This includes the $1.- 244.D29.018 United States Elcc- .-• fric Power Company, tho / ncthlehchi Steel Corporation, f the Pullman Company, the ; Niagara-Hudson Light & power Company and others). And all to the Brand total of $7.930,425,178. • • • Not taken into consideration in Ihi.s huge figure is the Jact that, through his membership on the board of the Pennsylvania Railroad and its associated companies, R. B. Mellon has n voice over an additional $2.155,2!M.R?3 of assets. Add this item, and you RCt a. Stand total of approximately $10,000,000.000. The Mcllbank Company, a patt of the family interests, holds 23 banks in to towns and clti'jS In Pennsylvania. In other ways, (heir money is invested in more than 2 different lines of industry, Tho outslanding Mellon cnt;r- pri'e is the vast Mcilon-fonndcd and Alcllon-ov.-iicd Union Trust Company of PitlsburBh, which has Driver flrove ~ Tlio nw, w. Waltcis of Huir OIIII lined his Appointment line Saturday unit Sunday. Miss Ilnfel Wnltcrs of Hnlr Moon si-ont Saturday nighl with Mrs. Esther Springer. Mr. Hurt Mrs. Herbert Hells ol Unit Moon sjicnl the week end ft-llh Mr. nnd Mrs. L. p. Hods*. Mr. nml Mrs. Muck Konlicr or Vnrliro spent Saturday niul Sun<l«y with Mr. and Mrs. T. '/,. Biid Snmlly. 'llie tier. Huck Walters \v;is tho of Charlie Brock Snlunlixy nlghl. i Mr .nnd Mrs. John Tolnnrt visited In lllytlnvllte Snluvdny. Mr. and Mrs. Joo Mulllunvs ol IVrnn Grove siwnl Suiulny wllli Mr. and Mis. U-tclirr SrlniUst. Miss Html Walters ot Hall Moon was tl:o gucsl ot Mis, Maude Sprtnger Sundny. Mr. nnd Mrs. Ernest Hlllliousc spent Burulny wllli the liitter's I'nieiits, Mr. and MM. J. S. kudus ni Pecan Grove. KKHON inoilullailrlo Mr. nnd Mrs. Oiilcy Ston? un- uounco llio birth of i\ son, March M. The bnby woiKhed clcht pounds and lias been nnincd Donnld Khr- mine. Mother nnd cl)!lcl arc doing \w>\, Rev. Calrlwcll of Armorcl nilcd Ills nppolnlmcnl litre Saturday night, nnd Sunday. n» wns Use KUCil of Hiimii Austin Siitnnlny ami Sunday nights anil wns Ihe luncheon Burst of Mrs. Hurvoy llorgctt Sunday. Chester Norton and family of Ucll'nnd Mrs. John llollnnd and FIYI Miss Mildred Vlneston wra guests of the H. E. Jordan fnmlly 61111- day. Mrs. John Rho.-uls Is suffering from u savor attack ol pr.i'iimonlu, Mis. Henry BoMing of Ulytlic- ' vlllc wns the £iieit of her son, [ Chivton HiirtfifleM, this week. | Mr. nnd Mi-s. Chuck Walker of Number 18 were Ihe Sunday nf- IcriHxm euests of Ihe hitler's piiv- enls. Mr. nnd Mrs. H&mii Austin. Miss Alble liynn of Tvmily- NitH! wns the u«ost. o( Mrs. Hump Austin Sumliiy. Lllllc Hobcil Nichols Is III this week. Tlu< Kkron Sunduy school now hns 08 enrolled. Thu school Is held each Sunday mornlne »l 10 o'clock. Kveryonx Is Invited. u mining home Here, the acchcte of Hie Legion ot Honor. This rec- ognltlon of lier scnto was conferred by. Cardinal Vu.-dlcr, Paris archbishop, Iri the prtMne* at 'U* ;'i of public health. Read Courier Newi waat ada. PARIS. (UP)—(living her WoM lline.5 In Irniutuslor.s irai for Mollicr Murccllo, n Pencil nun In Ca^udinej best for '" HEADACHI a record of the costliest bank stock in the world. Two years nso. S22.0CO a share was offered lor its stock. Tliis stock pnys 20G per cent a year nn its $100 par value and yields a fraction over 1 per ccnt at its last, sales price; of $17.- m. Singularly enough, the great Mellon fortune, had its real beginning in a financial panic that, swept the nation in 1837. As a young lawyer in Pittsburgh, Thomas Mellon, fatliai 1 ol Andrew, gained a clerkship ill the prolhoii- olary's office of Allegheny county. There he looked over tta liens and ' judgments that came across his .desk ' and, from among them, made shrewd buys for cash at a. time whr-a cash was scarce. Four years later, he found that his "accumulations amounted to about $12,000." Later, he turned to banking. In 1308, 'Judge' Mellon died in his 85th year,- leaving a fortuiio reckoned at close frr SIOO,- 000,000 to which his sons became heirs. • . Denton News 'Mr. ani Mrs. J. \V. Stanfleld j spent Sunday afternoon . with Mrs. Father and ion in three brandies of Mellon faintly. Top loft, James Ro;*s Mellon, president City Deposit 'bank, .Pittsburgh, and below, his ton. William Larimer Mtlloii, who' )m helped make Otilf Oil Company Ihe third largest In Anwi-ica. Top center, Andrew W. Mellon, new ambassador to .Great mit.iin,;as he will'look In formal court attiro there, and below, his s™, Paul Mellon, a banker. Top riglil, Richard B. ^ellon, Andrew Mcllon's business partner, and below, in polo cap, his son Richard Kh\s< Mellon, a power in avln(fp|i manufacture and finance, 'The senior Melloiis are brothers. Stanfield's mother, Mrs. 'Annie Longacre. •. • . • .. '•'. Miss Irene Tnrnbok spent Saturday night and Sunday with Miss Maxic Taylor. There Ms to be a pie "supper at the Denton schoolhouse Friday night, March 25. Mrs. W.. G. Harrison spent Sunday with Mrs. J. H. Longncre". • Mrs. Hazel Bonds sp&nt Monday with Mrs. Frank'McClanahan. ( Miss Ediih Harrison- spent ths week-end ivilh Mrs. J.'U Ca'ssidy at cooler. The Misses Fannie I-'arris, Bca- trife Cowelt and Lydla Grimstaff !-l)oiit the week-end with MUs Inez Llpsccmb of Steeie.' .March of l^ogrcss 'OMAHA. (UP)-Thc march of human , progress was vividly por- traycd.hcrc March 10 when L. H. Atkinson, airmail pilot killed in ft plane, crash near St. LLouis, was buried beside his twin brother, Floyd who was killed in a horse and bus'g'y Runaway ID years previously. Read Courier News Want Ads.' because"} !^^ .them. Contain'" 0 « * Wcn'l op«t Ito"" 1 2 lkjnpHI»or'po»der5, Jtliit itngilM"'" 1 '" j... n »inc.30t.wc)M ATTENTION-FARMERS _ , ___„.— r —____—— .__..— We are now contracting our early plantings of Green and Wax Beans Will also contract small acreage of Spinach BLYTHEVILLE CANNING CO., Inc. Or.PaulF.McCutchen Dentist STEELE, MO. Phone 85 S FINEST RUNG Duo and Triple Tread Air Cooled Tires FREE TUBE WITH KAOH TIHK I'UK- CHASKI) DURING MARCH Hubbard Tire & Battery Co. T^J^-n Tin..4 _. , .it i • _ _^^ . Tire Dcpl. Phone -176 218 \V. Ash Hardware Jkpt. Wionc 32 112 MILES AN HOUR BftCK TO THE UNITED STRTES CRME THE WORLD'S SPEEDBOAT RECORD WHEN MISS AMERICA IX.MRDE IWrWERAGE'OE 111.712 MILES RN VtbUR i\T MIHMI BEACH, FLORIDA, ON FEBRUARY 5.1932. TH(\T FLRSH OF SPEED THRILLED MILLIONS ftS THEY READ THE HEADLINES IN NEWSPAPERS J\LL OVER THE COUNTRY. YOU GET THRT SAMETHRILL OF PRIDE AT OUTSTANDING PERFORMANCE BY YOUR MOTOR, WHEN THE TANK IS| FILLED WITH'PHILLIPS 66 GASOLINE. YOU* ARE DELIGHTED BY SPLIT-SECOND STARTING, hXTRA PEP, AND LONGER MILEAGE -BECAUSE PHILLIPS 66 HteH TEST NOW RANGES FROM 65°TO,71.H°. v*^ 1 "»j_ TO INVESTORS The Secretary, Phil lips Petroleum Company, .OUaho PHtU4)P Wlfii HtlUlPS . THE OSOUKC OF COKTMOED VOUTIUTY : "HIGHEST TEST 1 at the price of ordinary gasoline Phillips 66 volat ility is 69.6 per cent highcr than the average of 28 competitive gasolines. Proved by unbiased laboratory tests based on distillation at 212 degrees. No matter what bargain prices are posted on any sign or pump, you get the biggest value in motor fuel in Phillips 66 .-.-. the greater gasoline, You will actually feel the difference it makes in your motor the very first time you use it. The engine starts with lightning speed even after standing out in the cold for hours. And promptly runs as sweetly as if it had been warming up for many minutes. No sputtering or bucking; No killing or lack of power. But an all 'round improvement in per-? formance and mileage that convincingly proves the benefits of high test gasoline. Yet this extra high test costs you nothing extra, because Phillips is the world's largest producer of natural high gravity gasoline; And has built sensational sales in record-breaking time by always offering you more for the money, at every Orange and Black 66 shield. Fcr those who prefer it...Phillips 66 Ethyl .. i at the regular price of Ethyl Gasoline A FINER MOTOR OIL at a lower pric* Refined from the very heart of a crude noted for extra oilmen. VX>% paraffin b**c. Minus wax, water, and carbon. A triumph of ultra-modern scientific refining. It cotes lc» to begin with *nd {ar ten in the long run. Sa»e wear, and money, too, by using **"f ncwtcientiRclubricaat. There is a grade made etpectally for your car. 301 a quart.

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