Northwest Arkansas Times from Fayetteville, Arkansas on August 26, 1952 · Page 9
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August 26, 1952

Northwest Arkansas Times from Fayetteville, Arkansas · Page 9

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Fayetteville, Arkansas
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Tuesday, August 26, 1952
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Page 9
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NMTHWBT AJKANSAS TIMB, T»oU.y, AufiMt 24, 1W1 Armored Car Robbery Solved, Money Returned Hunch By Chief Of Police Pays Off In Washington Washington-(/P)-A h u n c h b' Police Chief Robert V. Murraj cracked a $65,000 Brink's armored · car th«ft today less than 24 hours after a 26-year-old bakery truck driver pulled it off. Arrested and charged with grand larceny was Ray Eugene Farmer, a short, slender youth who had been fired by Brink'; three years ago after working a: a guard for the armored car com pany. All $65,000 was recovered Farmer dug up the money fo police. He had buried it in a wooded area near Glen Kchr amusement park in nearby Mary land. It was a cerefully planned rob bery, sandwiched in on Farmer' Drive Carefully School's Open Kids run, sit down, and dash into the »tr»t impulsively. Thaft why ifs wise for all motorists to exercise ·xtra caution, now that school's open. · And for financial protection in sudden emergency, complete auto coverage is wise, tool Call us for details) » Rentier Company, ( Inc. 'Insurance of All Kinds" Phone 236 bakery route yesterday. Myrtle Jackson, receptionist at the bakery of the arrest: "I just can't believe of the arrest: "I just cant' believe it. Ray came in from his route at the regular time yesterday.. He was just as calm and nonchalant as he could be. He -was one of our jest drivers, one of our most trusted employes." Chief Murray's recollection of a three-year-old incident led to Farmer's arrest. Murray recalled that Farmer's Brink's uniform once popped up in the hands of a teenage gang of hoodlums, rounded up on various charges. There was suspicion at the time that some of this gang contemplated using the uinform in some sort of robbery. lUUased By Pollc. Here is the story as told to reporters by Inspector Jeremiah Financial Prospects Of Depositors Receive Close Scrutiny Of Bankers Who Realize Sharp Withdrawals Could Cause Trouble New York - (/Pi - Some bankers to the steel strike mainly, the peak Flaherty: After Farmer's uniform was found in the possession of the gang in 1949, police t9ok him into custody and questioned him. They found no evidence of any wrongdoing by Farmer and released him. Soon afterwards, Brink's Jired Farmer because of the uniform episode. He went to work for the bakery company. But, as it developed, he kept a duplicate key to the armored car which traveled in the same area of his bakery route. At noon yesterday, the armored 'ar pull°d up to the fashionable Wardman Park Hotel and the four guards went inside to eat after locking up the car. Then Farmer drove up in his bakery truck, inserted his key, turned the lock, grabbed a sack containing $65,000 in small currency, pushed it into the bakery truck and drove off. He ignored S200.000 in bills of large denominations. Thefl Is Di«coT«r«d The theft was discovered when the guards, resuming their regular rounds, undertook to make chance at their next stop. It was several hours, however, before it was reported to police. First the company did a lot of back checking on the possibility there had been a failure to pick up a package of money, earlier in the rounds. Police were without any real clues. Then Murray recalled the 1949 incident of Farmer's uniform and got a hunch. Farmer was taken into custody at his house at 9 p.m. and questioned until 5 a.m. He broke down, admitted the theft and took police to the amusement park whore he dug up the money. Federal Bureau of Investigation agents were in on the questioning. So were officials of Brinks. They satisfied themselves that Farmer had nothing to do with the sensational 51,219,000 Brink's robbery in Boston January 17, 1950, the biggest cash haul in history. That holdup still is unsolved. are beginning to look even more closely at their depoiitors' financial prospects than they are at their borrowers' ability to repay. And that'* pretty clou, as you know, if you ever borrowed money at a bank. Most banks have more depositors than ever, and more deposits, which meanj they havt more money to lend. And banks at a whole are doing fine and are unworried about the present. The depositor! are protected by insurance. Some banks are working hard to |«t still more depositors. But some older bankers explain that it is their duty always to remember that a depositor who is green in the ways of getting and keeping money could change overnight from an asset to a liability-if the nation's long-time boom should peter out--by needing to have his money and thereby causing the total of deposits, the bank's money-making life-blood to shrlv- It's, a long time view these bankers are taking, because they don't ixpect the boom to go sour soon They say it's just been given a longer lease on life by the new stretch-out in defense spending which President Truman indicated in his revised budget predic- Jons. Arguments Heard Many disagree, Doth with the time-table of the boom and with the emphasis on the relative importance of seasoned rather than green depositors. But here are the arguments. First, about the stretch-out: The defense pr6gram accepted as a major prop of the boom was originally set to reach its spending peak Just about now. Then the first of this year the total height of that peak was considerably scaled down and the time was extended to the end of this year. Now, the president indicates, due Buckner Mr. and Mrs. Dick Elliott have moved to the old Fraley home, which they bought from Mr. and Mrs. J. S. Jamison. Mr. and Mrs. Robert Collen and children of Chico, Calif., were weekend guests of Mr. and Mrs. Jack Hughes, Mr. Cullen and Mrs. Hughes are brother and sister. Mr. and Mrs. Harley Benson of Bakersficld, Calif., and John Benson of Springdale were dinner guests Friday of Mr. and Mrs. Owen Johnson. Weekend guests of Mr. and Mrs. Jack Couch were Mr. and Mrs. Wallace Lee and children, Mr. and Mrs. Noah Skelton and daughters, and Mr. and Mrs. Ed Ritchie, all of Tulsa. Okla. Guests of Mr. and Mrs. Jess Hawkins Sunday were Mr. and Mrs. Sid Sugg and Mrs. Anne Parker, of Kingston; Mr. and Mrs. may not come till next summer, ut expenditures will stay higher than previously thought, well into 1955. Others think the peak of spending for defense may not be reached until the end of 1953. Many, however, contend that as long as this spending continues the economy has an important prop--if not to support a boom, at least to jire- rent a serious slump. . But after 1954 or 1955; that's what some bankers are'wonder- ing about. Problem Set Forth Their problem is set forth by the daily banking newspaper, The American Banker. It says "unsound depositors and bad deposits come first in the factors" that lead to trouble. It lists as unsound depositors: 1. New, untried businessmen with little working capital and a lot of goods. 2. Wage or salary earners with small savings or checking accounts, but with a "it of installment and other debt.*. The conservative bank which hasn't promoU-d too T.Jch new business, says the paper, is likely to have the sound and seasoned depositor: 1. The business well rooted in the success of the past with "resources outside the business capital on which to draw to add to bank deposits when storm clouds gather." · 2. Individuals with "a substantial backlog of savings bonds or other sound investments on \vhich they can draw to keep their bank books filled." i The sound depositor sustains the bank. The unsound one draws his money out and causes trouble. The banking paper Isn't making scare-talk. It's just reminding younger bankers who may be soliciting new deposit business: "The bad depositor factor has simply been covered up by nifh onto 20 years of continuous Inflation." One of the least known, and best locations for dredging for sea shells is off the Guf coast between Pensacola and Panama City, says the National Geographic Society. Tasmanl* was first discovered when two Dutch ships under Capt. The Azore titans* to ttt lantie Ocean ere US squercativ Abel Tasman were driven onto | and support nurlj · half the coast by gales in 1642. ' people. D. B. Hawkins of Tulsa, Okla.; Mr. and Mrs. Richard Mayes and children, and Mr. and Mrs. J. N. Hawkins and son of Fayettevllle. Mr. and Mrs. Charles Lairia- more and daughter, Brenda, spent Sunday at Charleston. Mr. and Mrs. Harris Dean Osborne and Mrs. Eula Osborne were luncheon guests of Mr. and Mrs. Lester Atkisson of Rogers Sunday. Mrs. David Clark of Wyman and Miss Daphlna Drake entertained Friday nifht with a party at the Drake home. Guects received gifts. Refreshments' were served by the hostesses. Mr. and. Mrs. Roy Keene of Tuscon, Ariz., are visiting here this week. Mr. and Mrs. E. J.' Counts, Mr. and Mrs. Otto Drake, Mr. and Mrs. Ballard Drake, and Mrs. Cordia Drake attended an open house at Fayettevillc Sunday honoring the golden wedding anniversary of Mr. and Mrs. Norman Drake. Mr. and Mrs. Dillard Drake and Mr. and Mrs. William Earls and daughters attended a family reun ion at Coffeyville, Kan., Sunday. Mr. and Mrs. Kenneth Caudle attended a singing convention at Westvllle, Okla., Sunday. Ken ·» wltk tte Hnee--read the Tlaaee Simmon's "Dreamsleep" Mattress--Specially Sale Priced Purchased to save you more Dollars now! Mode to Simmons high standards, with 220 resilient Premier Wire Coils flatly padded with sisal insulation and felted cotton woven stripe ticking, ventilators and cloth handles for quick easy turning. Matching Box Springs. Available at this same low price. $33.33 LEWIS BROS. CO., Inc. OCT. 1st Final Date TO PAY 1951 Taxes Without Penalty · Mail Chtek Early To Avoid Rush Ralph Taylor COLLECTOR CORRECTION TUNA Star-Kist Flat Chunk StyU . . . . . Can SAFEWAY 29c YOUR HEARING DESERVES THE BEST -B E L T O N E QUALITY HEARING AIDS Individually Fitted Personally Service'' MR. LOWELL G. BENNETT Authorized Beltone Coniultant will hold the regular Monthly Consultation THURSDAY, AUG. 28 3 p.m. to 8 p.m. MOUNTAIN INN HOTEL BELTONE HEARING SERVICE 311 W«t Walnut SpiliwtMd, M*. OZARK EMPIRE'S LARGEST HEARING AID CO. FLEXI-FOAM TMa| FUKED FOAM RUBIER NUOlt niXI-FlAKIS arc made from Latex Foam Rubber, (not shredded), a scientifically designed product .·- affording maximum sleeping comfort; soft and resilient as goose feathers but do not sag or lump. Flexi- -._ Foam Pillows arc dust-proof and molh-proof--ideal'" " for hay fever and asthma sufferers. CAN BE SHAPED TO YOUR SLEEPING COMFORT _ _ MADE FROM NEW LATEX FOAM RUBBER FIAKIS-^' (not thredded) RESILIENT--BUOYANT AS GOOSE FEATHERS '"· LAST FOR YEARS--OUTWEAR FEATHERS STANDARD SIZE--CORDED FOR LONG WEAR ' LINEN FINISHED TICKING--(Row Floral PeriMm t* ·lira Strip*) Tfw ocUed fteWfteiKC of foci-Foam Woiei proWdei Perfect Sleeping Comfort *% {%f Was 3.25, now . 2.95 Lewis Bros. Co., Inc. LEWIS BROS. END-OF-THE-SUMMER Furniture Sale For Your Living Room J I For Your Dining Room | 1 Bedroom Furniture | 242.00 Sofa, Blond wood, grey tapestry 192.50 Love Seat, Duncan Phyfe, Solid Mahogany 313.00 Sofa, English Chippendale, Rose Brocatelle 304.00 Love Seat 214.00 Duncan Phyfe Sofa, stripe Tapestry, Solid Mahogany. . 219.00 Sofa, Grey Tapestry on casters 189.50 3-piece Sectional Sofa. Red Wool Frieze 159.00 2-piece Sectional Sofa Gr.en Nubby Weave . . . . 134.00 Tub Chair with Arms. Red Tapestry 118.00 Tub Chair without Arms. Red Tapestry 121.00 Chair, Blond Mahogany, Red Weave, Foam Rubber Cushions and Arms .. .' 96.00 Rocker, Mahogany, tapestry upholstered, Goose Neck A r m s . . . . 92.50 Wing Chair, Red Floral Print 112.50 Lawson Loung. Chair Stripe 54.95 Platform Rocker. Choice: Dark Green, Red, Chartreuse, Plastic. . 47.95 Platform Rocker. Choice: Grey or Blue Tapestry 161.50 128.50 209.00 203.00 142.50 189.50 169.50 139.50 89.50 78.75 Nubby 82.25 64.50 61.50 75.00 49.95 42.95 189.50 Solid Walnut Hutch Cabinet 122.50 Solid Walnut Buffet 132.50 Solid Walnut Butterfly Table. Drop Leaf Extension 109.50 Solid Walnut Duncan Phyfe Table. Drop Leaf Extension... 24.75 Solid Walnut Duncan Phyfe Choir '' 107.95 Duncan Phyfe Table, Extension 11.95 Lyre Back Chairs, Mahogany Finish 149.50 99.50 99.50 89.95 19.95 97.95 9.95 259.00 5-plece Knotty Pine Vanity, Chest, Nile Stand and 4AA CA Bench '**·" 1(1.00 5-plece Lined Oak Vanity, Chest, Twin Beds, Bench... 114.50 3-piece Walnut Suite 9.95 Bench 49.95 Double Dresser 49.9S Maple Finish Double Dresser 99.95 3-piece Maple Finish Suite 79.95 Solid Maple Double Dresser .. 12.95 Grey Carpet, 12 ft. wide, All Wool Face ·2.50 Floral 9x1? Rugs, All Wool Face. 2 only. 99.95 Floral 9x12 Rugs, All Wool Face. 2 only. 9.95 59.95 69.95 114.50 3-piece Solid Maple Suite 32.50 Heavy Spool Bed Maple or Walnut Finish 219.00 99.95 7.95 39.95 39.95 19.95 69.95 12930 . 29.95 | Summer Furniture | Table Radios ] 22.50 Chaii* Lounge 47.50 Chaise Lounge Red, Green, Yellow 34.50 Metal Glider LIVING ROOM TABLES Group 1 up to 19.95 9.95 Group 2 up to 24.95 14.95 Group 3 up to 39.95 19.95 I Framed Mirrors 14.95 large Rattan Arm Chair 9.95 Large Rattan Tub Chair . . 21.95 Framed Mirrors, 24"x36" Plate Glass 18.95 Framed Mirrors, 20"x28" Plate Glass 18.95 Framed Mirron, 22"x30" Plate Glais 19.75 16.95 16.95 24.00 Rattan Settee 8.95 Raltan Side Chair 21.50 Rattan Square Table 49.95 Nest of 4 Raltan Tables 17.95 34.95 26.00 9.95 6.95 17..95 5.95 14.95 24.95 23.50 Table Radio 25.95 Table Radio 28.50 Table Radio 29.95 Table Radio 42.50 Table Radio 47.95 Table Radio . . 74.50 Table Radio . . 45.45 Portable Radio 58.25 Portable Radio 37.50 Clock Radio .. 42.50 Clock Radio . . 44.91 Clock Radio 19.15) 19.95 i 23.50 24.151 37.50 42.95 54.95! 34.95! 39.95 i 29.95! 29,95 29.95 Lewis Bros. Co., Inc. CONVENIENT TERMS TO SUIT YOUR BUDGET

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