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The Malakoff News
Malakoff, Texas
July 7, 1933     The Malakoff News
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July 7, 1933

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THE MALAKOFF NEWS THE PRICE OF BUSINESS SPEED Banking Institute Speaker Says That Bank Failures Followed uslnesa Failures , CHICAGO, Ill.---Many appear to :hlnk that failures occur only ta banks, but the complete story of business ;hews that failures e~ American banks [lave followed the failure of business enterprises, and have not been a cause ~f those failures. Dr. Harold Stonier, National E, ducational Director of the &merican Bankers Association. de. ~lared in a recent address here before Lhe American Institute of Banking. "It is true that we have had more [allures in our banks than in the banks Df a number of other countries," he said. "It is also true that we have had more failures in drug stores, grocery 0terse, railroads, and in every other type of business enterprise. At the same time. it must be said that, we still have left aRer all our failures, more drug stores, more grocery stores, more railroads, and more banks than any other country." People do not realize, he said, that we have in excess of 10S banks which have been in existence over a century and we have more than 2,000 bavmks which have been lff existence over-50 years. "In other words, we have more banks over 100 years of age than any other country--we have more banks over 50 years of age than any country in the world." he declared. "The American banking system has not fallen down--. it Is not in danger of decay. Such fail- ures as it has experienced are due to the price we pay for too rapid develop- ment of business enterprises, but that is the American spirit." L" II U, S, GOVERNMENT GREATEST BANKER Runs Fifty-two Financing Insti- tutions With Investment o Two Billion Dollars---Thir- ty-nine Agricultural AMERICA'S biggest banker today Is the Federal Government, whlch is now operating fifty-two financing insti- tutions, says Professor John Hanna of Columbia University in the American Bankers Association Journal. "Forty of these are owned entirely by the Government." he says. "In twelve more the Government has al- ready a two4hirds interest. Thirty. seven are intended to he permanent. Twenty-five of the permanent ones and fourteen of the temporary ones are agricultural. "The capital stock held by the United States in the~ banks has a par value of $I,380,000,000. The Government's total investment Is nearly $2,000,000,- 000. Resources of these institutions ex. osed $3,000,000,000. In addition the Government l~ta detailed supervision over mortgage banks, operat- ing under Federal charter. "The Governmen, also supervises 4,600 local agricultural loan associa- tions with Federal charters. All this takes no account of the relations of the Government to the twelve Federal Re- serve banks, nor of the authority re- cently given to the Reconstruction Finance Corporation to buy preferred stock in national and state commercial banks." The President has ordered the con. solidation of the agricultural credit agencies into the new Farm Credit Ad- ~mlnlstration, says Professor Hanna. He expresses the opinibn that before the consolidation of the agricultural financing agencies too much machinery had been created to administer the financing institutions which the Gov. ernment either owns or supervises. "Exleti~ institutions represent a considerable differentiation of func. tton end any consolidations should be preceded by a careful survey of the ac- tual aetlvtt|ea o~ the various instJtu. tiGris," he continues, "The only con. solidation the Administration has an- nounced is that of the agricultural credit agencies in the Farm Credit Ad- ministration. As a permanent solution this arrangement is too closely bound up with politics. "A better scheme would be to create a finance corporation under Federal charter to take over either the agricul. rural finance activities of the Govern- ment or all Its lending agencies. "The Government's financing and banking activities should be kept severely apart from subsidy and other schemes for raising the prices of farm products. One is business, the other Is major political policy, The advantages of the corporation over bureau control for the business functions are real and ~mlgniflcant.. ' ! Radroad Legislation RECENT state legislative bill pro. - - vided that a track man carrying a bell by day and a lantern by night should lead all railroad trains across grade crossings; that conductors must smile when answering questions; that it would be a misdemeanor to serve eggs more than one day old on pullman cars; that trains be required to stop at any time when flagged by hitch-hikers. and that trains crossing rivers wider ~quipped with Taxed for Cms og; Money Is Used to Build Church ~La Ouayra, Venezuela. little known to cruiser ships a few years ago, has be- come exceedingly popular of late. Mr. and Mrs. C. E. McSpadden Caracas, the capital of Venezuela. is and son, C. E., Jr. and Mrs. reached by an ascent up a magnificent M. Ellis of Blooming Grove spent highway. It is only seven miles by air- line from La Guayra, but 23 over the last Sunday here with Mrs, T. P, tortuous road which winds upward Dodson and family, through some of the most striking scenery in northern South -America. La Guayra Is interesting for its "In- glesia de la Santisima Carramb -- A garment is as new as it looks a" --CITY CLEANERS. the Church of the Most Holy Damn. This edifice was built with the pro- Little Jay A. Bailard, who has been quite ill for the past two weeks with Bronchitis, was able to be out again for the first time Tuesday. Mr, and Mrs. R, H. Finney and sons, Charles and Jack of Paris, Texas spent Tuesday here with his parents, Mr. and Mrs. W. H. Finny. Mrs. W. T. Evans and chil dren of Corsicana spent July 4th here with Mrs. W. L. Evans and family. Mrs. FrankTyler of Mart is visiting her mother, Mrs. R. D. Melton this week. Mr. and Mrs. Dan Rogers of Bakersfield, California and Mrs. Rogers" father, Charlie Terry of Weatherford, spent t h e past week-end here with the latter's son, Will Terry and family, i . i i E. E. Roberts settled up this week for the News another year. For a suit that is cook get a tropical worsted, f r o m CITY CLEANERS. . ii L H. P. Ady and son, Joe and R. H. Pickel, Jr. attended the Tyler. Longview base ball game ac Ty- ler Tuesday night, R. A. Finney and son, James of Coleman are visiting his pa- rents, Mr. and Mrs. W.H. Fin- nay here this week. Misses Ethel Noble and Fran- cis Edwardsof Athens spent a few days here the latter part of the week, with the former's aunt Mrs. L. J. Scholl and family. Misses Lucille and Luella True- love who are attending summer school at Denton spent the week- end here with their parents, Mr. and Mrs. O. A. Truelove. LOST--Somewhere b e t w e e n Toole and Corsicans last Friday night a large Tarpaulin about 10 x 20 feet. Finder will receive a reasonable reward by notifying J. B. SCOTT. in care of Fortaon Grocery Company, Corsicans, Texas. Miss Eleanor Hall is spending the week with Mrs. E. L. Hart in Corsicans. ,m Mr. and Mrs. S. A. Hall and Mr. and Mrs. E. A. Hall attend- ed the picnic at Corsicans, on'- the Fourth. _ ....... Mr. and Mrs. Lloyd Andrews and son, James of Arp spent Sunday night With Dr. and Mrs. J. A. Fowler and family. We are equipped to clean your fur coat.--CITY CLEANERS. Mr. and Mrs. J. C. Bartlett and son. Wade of Wichita Falls, via. ited in the homes of T. A. Bart- lett, Sr., and Mrs. J. E. Drum- moncJ, Snnday. Mr. and Mrs. W. C. Payne were Corsicana visitors Tuesday. Tom Wilkes and Mr. Magee of Henderson spent Tuesday here with the formers aunt, Mrs. E. 0 Dodson and family. Mr. and Mrs. Jno. Robertson and daughter, Miss Voile Lee spent Monday and Tuesday with relatives in Palestine. Miss Voile coeds of fines paid to a priest by those of his parishioners who were accom- pUshed in profanity and were taxed for each cuss word they used. Cartagena, Colombia. Is one of the oldest cities on the Spanish Main. Founded in 1533, it still contains much that is picturesque, mosque-like domes and Moorish towers, fortificatiOnS everywhere. Walls enclose the city, often with ramparts 30 feet high and from 40 to 100 feet wide, built to re- sist the pirates. Francis Drake and Henry Morgan were among those who laid siege to the cry. Finds Sausag Bananas of Similar Architecture "Evidence of efforts to Implant food wisdom In the young Japanese mind Is provided by the National Provisloner in a quotation from a sample of school compo~tion. "'The banana are great remarkable fruit. He are constructed in the same architectural style as the honourable sausage. Difference being skin of sau- sage are habitually consumed, while it are not advlceable to eat rapping of banana. "'Banana are held aloft while con- suming; sausage are usually left in reclining position, Sausage depend for creation on human being or stuffing machine, while banana are pristine product of honourable Mother Nature. "'In case of sausage ~both conclu- glens are attached to other sausages; honourable banana, on the other hand, are Joined on one end to the stem and opposite termination are entirely loose.'" Lsncastr|an Schools Not until the Nineteenth century was well advanced was there any pub. lie school system in the United States. In 1798, in England, Joseph Lancaster established at Southwark a free school for the poor. De Witt Clinton be- came interested in public education in New York and instigated the Public School society. The Lancastrian sys- tem by thee time was known in Amer. lea and was adopted. The principle on which it operated provided a teach- er aided by monitors selected from the pupils as they advanced. As many as 1,000 pupils were instructed by one teacher and these assistants. Bottomless ~alm of Pitch Trinidad. known as the "Land of Hummingbirds," attracts many visi- tors because of the famous Pitch lake at La Bros. a mysterious expanse of asphalt which appears to have no bot- tom, as holes left when the pitch is dug out flU up again immediately. In Trinidad one sees many Hindus. the men in elaborate turbans, silk blouses and flowing robes and the women wearing gold rings, anklets, heavy earrings and silver bracelets. Port of Spain, the principal city, has a r, opu- htion of '200.000, mostly black. Monolla Mongolia Is a vast tableland in Con tral Asia, the traditional home of the Mongol peoples, end formerly was s definite dependency of the Chinese em plre. Now it is divided into two dis tinct cultural and political entities- Inner Mongolia, which is becoming ab sorbed into China. and Outer Men golia, a republic in close relations with ttm Russian Soviet federation Masons To Have Dist Meeting And Barbacue At Eureka On July 14 All Masons of this, the 17th District of Texas, are cordially invited to attend a District wide meeting of the 110th District at Eureka the evening of July 14th. A barbacued luncheon will be served on the grounds at 6:30 p. m. The principal speakers f o r this occasion include the Grand Master. Mr. Wallace Houghston of McKinney, and a number of other Masonic notables of the State. The meeting, to which, fully 600 Masons are expected, will be held in Eureka. which is situated just off of Highway No. 75, about 7 miles south of Corsicans. It is expected thatquite a number of the members of the local Lodge will attend the occasion. Masons Enjoy Picnic Followii!gl _nstallation Members of the local Masonic Lodge together with their fami- lies enjoyed a picnic supper on the lawn at the First Baptist Caurch, following the annual in- stallation ceremonies Thursday evening of last week. The installation of the officers was held at the Masonic hall after which the members repair. ed to the church where their families were awaitinu them with a luscious supper of fried chicken, with everything that goes with it, and huge quanti- ties of soda water, already pre- pared. A short address of wel- come was delivered bv Mr. Gee. B. Thompson. The new officers installed were; Wayne Evans, W. M.; Jack Da- vis, Trinidad, S. W.; J. P. Nich. olson, Trinidad, J. W.; J. G. Fowler, S. D.; R. L. Griffin. Trinidad, J. D ; R.A. Wood, S.; R. A. Byers, Trinidad, J. S.; and J. H. Evans, Tiler. Joe Morrison of Trinidad was re- elected as secretary. Going Forward The State Fair of Texas is now planning its 47th annual exp,)si- lion. Since 1886, this institution has striven hard to keep going for- ward at all times. Its success is best told in the fact that, today it is the biggest State Fair in the world and the second largest an- nual exposition in the world. The State Fair of Texas will continue in its march forward, because its officers and its direc- tors will continue to direct the march along the lines of service. believing an institution can best succeed by giving service in its . t" II ! A Few Of Our I Frostillo 35c bottles for Dusting Powder size Nadinola Tooth Paste & Brush tu es Colgate's Paste and 1 50c Brush, all for Shaving Cream McKesson's 2 tubes Safety Razor Free! lOO Segal Safety Razor Free with package of Blades Combination One 50c Dr. West's Tooth Brush and 1 35c tube paste, both for Liquid Petroleum One quart J CO 'S w,^ 1.oobox Powder Powder & I I'IILI[IIi and 50c perfume Toilei TissueTexel-- 4 rolls Fountain Syringe : No. 2 size "YOUR DRUGGIST FOR 30 YEARS" ~tli ll l J It Ill , NN N SINGER SEWING MACHINES -The world's oldest and best for sewing. See our county repre- sentative or address him--W. D. MAGUIR Malakoff, Texas. Read the Advert2semen L Let the CITY CLEANERS clean your winter clothes and place them in moth proof bags. PAYNE'S DR, Soundness and Service in a bank I are inseparably linked. They are producZs of management, which is a roduct of experience, jud:. ment, knowledge and courage. National Malakoff, Texas Mr. andMrs. Claude Bankston community, its district or its Mrs. R. L. Vandagriff and son, state, and that the success will Ray, Jr. and Miss Marseilles be marked by the service it ren- Petrigrew of Dallas spent Satur- ders. day and Sunday here with relao The State Fair of Texas will tires. Mrs. W. E. Roberts and continue to go forward with Tex. Son Live.Wire of daughter, Elms Francis return- as, and will again ask Texas to rayne, vrugglSt ed with them for a visit, go forward with it. ........... PUTS ON . -- Mr' and Mrs" R H" Picket' Jr' Cmpare our Cleaning a n d E S [y p " were Dallas visitors last Thurs- Pressing with any other cleaners xtra aturt a M,, Jo o i, T. i,m o spending the week with friends night for Dallas where he will Paste, and fine brush_/d[ 7 | Special at at Chandler. undergo medical treatment fit FrensSanitaryNapkinsf} 'il 75c Budweiser Malt .... the Baylor Hospital. H e has 2 packages for ........ ,OC [ syrup ................ Pleasing you means success for been ill for some time with fever Frest Malted Milk and At' | 25c Talcum Powder us--CITY CLEANERS. and pains in his chest, and not mixer, 1.00 value_._:_ l Special at___. - being sure of his ailment, he de- Palmolive ShaveCream g't Ii 1.20 Fountain Syringe Mr. and Mrs, H, P, Tidmore cided to have some X-Ray pic-Talcum & Steptic pencil . ::TC I Special at and children of Mercedes are tures made and remain in the visiting his mother, Mrs. G. W. hospital until his condition is im- 6 rol:|' rToilet Paper, Ct ' I Ipana Tooth Paste Tidmore this week. ,proved. Dr. L. B. Sheffield, of Special at ............. I Special ......... 7 ..... ]Dallasis here to care for LisColgate's Shaving Soap [ 10c Bar Toilet Soap Mrs. Gee, Thompson of Athenslpractice during his absence. 2 bars for ...............[ for Saturday ............ Ispent Tuesday in the city with ] ' " ---- her parents, Mr. and Mrs. W. H. [ Miss Dorothy Daniels of Bay- Our Drugs Are Always Fresh and Finney. [lor College at Belton, Miss Alone ' [ Daniel of C. I. A, Denton, Tex- Bring Your Prescriptions To Us! Mrs. Guy Melton and two little[ as, and Mr. and Mrs. A. G. Dan- daughters of Newark cam6 in ielsof Hughes Springs, spent the Sunday for a visit with her pa- week-end here with the latter's J.W.