The Clinton chronicle. (Clinton, S.C.) 1901-current, January 31, 1935, Image 6
' ■ ■■"'1
7T
THE CTJNTON CHRO^fCT.E. CLINTON, S. C.
"v
K I
\
' \
} unyuuubes
Hek) Neicessary
Fraud Inherent In Syste^ of
Holding Compaiues; F^cp^
Trade^Comml^icIpi Asserts.
W«sbiTigton, J«n. 27.—Either out-
i*<Ciit supptvscioii or straig'ht-j^ckeit.
TerulaOon of pufeSie utility boldinf
compwaits yrw rtcommoxKJod today by
^t^ J^dorifl iia<le *;
* evils of the holding Company
may he so inherent that they can be
ieradicat^ only by eradicating the
system itself,” the commissboif^re
ported to congress in the final section
of Us utility studj^. Summing up a'
conclusion from its'seVen-yoar invest!-1
gation, the commission said: - 1
“There appears to be no plausible!
justification for Uhe super-holding 1
company. t ^
The commission said the acts antl^
abuses by holding conipaniea.^ were •
“too various” to recite ut detail but
would re<iuive a special u]>pendix.
“Itds not easy to choose wonls.
which will adcHjuaUdy characterize va-,
^rious ethical aspt*cts of the .situation
without an appearance of undue se-
verity," the commission s*h1.
‘Nevertheless the use of words such
as fraud, <lixH‘it, mi.srepresentation,
dishonesty, breach of trust, and op
pression are the only .suitable terms
to apply 1f one Seeks ToTform an
ethical judgment on many "practices
which have taken sums beyond calcu-
latioit ^rom the rate paying and in
vesting public.”
The commis.sion said it primarily
recommeruied either taxation or direct
prohibitive legi.slation to bring about
‘whatever ends congre.ss choo.<»es. Tax
ation to restrict holding companie*
■ has been seriously discussed at the
White House;
Chairman Rayburn, of the house in
terstate commerce committee, how
ever, said yesterday therx' was disa
greement as to th<‘final form of hold
ing company legislation and as ^o the
agency that would administer it.
The tax j)roiH>.sals would miuire
holiPng companies to pay annual lev-
ie? which would be graduated sharp-
iy upward. This might eliminate
super-holding companies, since levies
on underlying companies would leave
a little income tefr the giant at the top.
The commission also i^'ommended
a 8erie.s of direct statutory prohibi-.
tions which would declare unlawful
actions ranging from the sak' of en
ergy by a company who.se rates are
based upon an amount greater than
that actually and prudently invested
in the property” to holding unlawful
“the capitalization of stock and bond
discounts?*^
“C
55
THURSDAY, JANUARY 31, 193S
n,
T.
making it! ^hecessary for them to de-'the close of 1934 as 'Compaq! with
, ( Clare themselves paupers. ’ $62,788,123 orf December 31, 1933, the
j {* (, States Must Cooperate
OneL important feature of the bill
fj is that it calk fo^r cooperation by the
states, specifying kind old-age
pension systems wWch stated must set
up if their citizens are to benefit un
der the economic security act, wbic^
is the offbeial title of bhe measure.
Twenty-eight states now have oW-
age pe^ion laws, varying greatly in
detail and of pensimie paid.
The* average is" $19.34 a month, the
highest, lowai $30 a month, pearly
llb,000 old people received ovbr 26
million dollars m undef these
state systems. Now states which want
to participate must reform their old-
age plans if they want federal aid,
and as nearly all k^slatures meet
this year,, it is expected that, most of
them will come in speedily. , ^
_ Second Attempt V w ^ Tk.T O
This is"nbt the first old-age perisiw I /V '/ I '
pkn umler the present administration.] ^ ^ ^
Wst year, on August t, the Railroad “ ~ V TT
act went intQ effect, I.eghorn pul-
vi,linK compillsory reticement of all j o '''’'’'5'
,.«Hroa,l wocLl-a at, 65, or after O'' Mil!- . Itc
years service,! with pensions, out of WANTED—^By expe>ienced secretary,
1 fundi bbhtribiited by the roads and position, part or full time. “N” care
$62,788,123 orf' Decern]
statement said.
During the^ye*r,'lt war pointed out,
the amount of cash on hand and in
banks increased from $*20,385,989 W
$28,4^,524 or approximately 4Q p«
cent Cash imd reservea, ina4njnp 42
per cent of iotid deposits at the close
of 1934, the,statement eet^fortb.
J The dnef exandner ealkd attention
to Hicreaae of kana and diaoounte in
1934 from $19,996,910 to $25,978,386,j
or approximately -30 per cent, “indi
cating a much larger expansion of/
bank credit on the part of state finan
cial institutions than has generally
supposed to have been the case.” '
R^l estate holdibgs of banks,' in
cluding banking houses and “other
real estate materially^ecreased dur
ing the year,” the stiHjfcent said.
the workers,''up to as high as $120 a (The Chronicle,
month. But the Supreme Court of the;
\
2t
United States dwlared this act,uncon-
stitutional on Octbber 24. *■
It is no secret that one of the com-
P<.|ling motives for the pressure be- yo'ir own fertnizer. Write for i^or-
Tirha iSi Kn^Ke TwSVIiS .o.t formnr.. -KrT-
the president has yet seen fit to exert
upon congres.s—is the desire to take
wind out of the sails of Senator
Huey -Long and hLs redi.stribution of
wealth program, as well as to head
off the menace of the great mass of
votes behind the Townsend plan..
1k
|[)OCT0ik»
J0HNJO5£PH6AlllE5Ma
Another Liquor-
Bill Approved
House iudjciary Committee Re
ports Favorabl.v On Licensing:
of Dealers In State.
NOTES BY THE WAY
Some month.s ago I reported a farm
er’s wife in a western atate, that hai
been bitten by a “black widow” spider.
She was then suffering very inten.se»
7y in one of the best we.ntern hospit
als; in spite of the efforts of the spec-
Columbia, Jan. 29.—A second liquor
bill receive<l approval by tlie house ju
diciary committee twiay, only one leg
islative day after tlu* Blatt-Brown li-
* M
-quor bill had ht>en passed and sent to
the senate.
ialist, she died from the venom of the
poisonous insect. ^
Now I want to tell you an occur
rence that happeneil just the other
day: The paijer containing the account
of the .spider-bite happened to fall into
the hands of a convict in one of our
north<*m state prisons. He at once
wrote me, ^dvising the use of a “flax-
8ee<l” |>oultice in the very next ca.se
of severe, inswt bite! He condemned
the modern . methods of treatment
which he .said always failed; this was
diverting to me, coming from the
source’ it did; it made me think there
jwas something good in the unfortui
' nate fellow, even though shut in pris-
! on, convicte<i of a crime.
I .Speaking of the^old flax seed poul
tice, it is by no means on outca.st, for.
Tlw biir, mi™,luy«l l.y Re|Mv„mU-:<-n'l’l«y “
,e .Sinklvr, of Charloston, and Ar-,
tive
rowsnvith, of Williain*burg, Hriday,
provides for statewide licensing of
.privatedealers to sell, Li/pior in con-
tra.st with the county Innii-d ctmtrol
sy.stem contained in the Blatt-Brown
hill. It was introduced after the coun
ty control bill was pa.s.s<*d
for acute inflammation, it should al
ways be kept I'eady for use—with the
consent of your family docU>r._ _
The old flax-seed poultice! Let us
siTpposc you have a threatened abcess,
due td a^fheus of infection that has
somehow htvn acquire<l. To encourage
Tn. I- 1'. I the “l>(>il’\ into suppuration is often
The committi^ also agiee<l to report \ . .. , > .
[ the quickest way of getting rid-of it,
I'
Get a paper bagful of ground flax-
quor advertising in nowsiiai>ers and:drug store, over youi
through .,th..r mediums. !?"** I'urner convyrt some, of the m<«l
The senate voted, eftnou. fence to l^l th« may U
house tvsnlution hv RJi.o.sentatives! “^I’J’'''' W
ii' .ir . f /A.._ i , A aftected surface continuously uj»til it
is ready for o|)cning. Not had troat-
favorahly a bill by Representative]
Calhoun Thomas, of Beaufort, to re
peal the existing law prohibiting li-j,
and i
Calhoun Thomas, of Beaufort, to oa-1 “"'i
Wqlfe, of Orangeburg, and Arrow-
.smith of William.^burg, asking Con
gress to reduct* the liquor lax. The
Blatt-Brown liquor hill reached that
body too late f(»r action totlay, hut is
expected- to be refeiTed to the senate
judiciary-curmnittee tomorow. '" *
The senate'' judiciaiy cbmmittee
agreed to a favorable report on a hill
by ivenator Thurmond, of Edgefield,
to divert the ct)unty and niunkqiaj
share of the beer tax to the state for
school purposes. *
nieni.
4TH MONTH gONOR ROLL
O^HANAGE .SCHOOL
WATCH YOU
itlDll£Y$!
Be Sure They Properlyf
Cleanse the Blood
Y our kidneys are constantly fli-"
taring imparities from the blood
stream. But kidneys get function
ally disturbed—lag in their work-
fall to remove the poisonous body
wastes.
Then you may suffer nagging
backache, attheks of dizziness,
burning, scanty or too frequent
arlnation. getting up at night,- -
. swollen feet and anklee, rheumatic
palBs; feel “all worn out."
Don't delay! For the quicker you
get rid of these' poisons, the better
your c^nces of good health.
poan'g Piflt. Doan'x are for
the kidneys only. They tend to pro
mote normal functioning of-, the
kidneys; should help them pass off
tke Irritating poisons. Doa^ are
reoonuDfnded by users the country
over. 0^ them from any druggist.
jryrs PILLS
SUBSCRIBE TO THE CHRONICLE
“The Pnper Everybody Reads'*
First gra<le: Robert Grulx*, Juanita
Hillhou.se, Fi'ances Little.
Second gmde: Margare-t PeteiY!.
Third grade: Sam Marse, Carolyn
\lurphy, Dougla.s Parker, Sidney
Rhodes. ’
Fourth grad^; Jerrell DavLs.
Seventh grade: Madeline Smith.
FMghth gradet Margaret Capps,
Jean Eutsder, Mary Hughes, Eddie
Simpson.
.Ninth grada: Be.ssie-Portner, EUza-
bt'th Tucker, Ruth Ryan.
Tenth grade: Ida Gamble, John
- -Rawls. •
Eleventh grade: Robert Campbell.
COOPERATION ASKED
I The police department stated yes-
'terday that .some complaint has been
n*ceived from housewives as to being
^constantly annoyed by peddlers or
. house^to-house capvassers. Agents en-
■gagisi in this'type of soliciting are re
quired to obtain a license,'the police
! department states, and any pnhoyance
reporUnl to the department will be
promptly inve.sligattnl. .
COUGHS
Don\ let them get a strangle hold. Fiaht
them (fuickly. Creomulsion eomhihes 7 help*.
in one..Powerful but harmleaa. Pleasant to
take. No narcotica Your own dniggiar'tt
•ntboriaed te refund your money m tb*
not if your coa$b or edid ia not retiand by
CwoBnilriofc (sdvj
ECONOMIC SECURITY
\Va.shington, Jan. 28. — Topping all
other subject.s now under discussion
here, is the president’s economic se
curity proposal, which has taken pre
cedence of the veterans^boTtus and the
four billion dollar work relief project.
Tho.so havenU been shelved; a 'bonus
measure will be enacted which will
meet the veterans’ demands at least
half way. And the four billions for
public works will be vote<i almoet as
a matter of routine, with probably
fewer strings attached to it than had
been'anticipated. But the big thing of
the moment, which may turn out to
be the biggest thing in this adminis
tration’s career, when hi.story comes
to be written, .is the gigantic -plan for
nation-wide old-age pensions under
federal supervision, unemployment in
surance on a national scale, with a
broad child-welfare and public health
progranj tacked on for good measuix*.
Boiled down to essential*, the plan
proiM>s<*<l l)y the pre.sident and embod-
MHlln. the‘Wagner-Lewis: bill, makes
the following provisions:.
1. Old ^ge Security. A pension of.
$30 a month for every person over t^
age of 65—that means $60 for^vrfan
and wife both over 66—to Jae paid
half by the .states and half the fed
eral government, to |iersons now
' without ade<iuate means of subsist-
j ence, or who reach that age be-
Ifore the old^ate annuity funds pro
vided for ill the bill have built up
enough.to provide that income. An an-
nuaUtax on payrolls to provide Wd-
^kgfe retirement funds as well as to
build up an unemplo3rment .insurarice
fund. Provisions whereby “self-em-
ployeti” iK^racms, such as farmers, pro
fessional men and others may make
voluriitary i>ayments -to ^he annuity
fund, entitling them to receive a life
pension when they reach 66 years.
2. Unemployment Insurance. A tax
on all payrolls, to be paid by employ
ers, half of it to be deducted from the
pay^of employee's, to be u.sed to com
pensate employees who are laid off
or otherwise unable to work, and also
,to build up the old age pension fund.
3. Maternal Welfare and Child
Health. Appropriation of $4,000,000 a
year to be^^ais^ by the Federal Chil
dren’s bureau .in cooperation «wi.th
states, for mdlhera’ pensions, welfare
work generally in connection with
rearing and phyctical care of children.
4. Public Health Service. Appropri
ation of $10,000,000 V year to enable
this federal bureau to cooperate with
.states in improving health conditions.
Bill Favored,^ But—
j -There is littte likelihood that the
bill will be finally enacted in its pres
ent form. There is widespread edm-
! mendation of its purposes on both
I sides of both houses, l^me sort of a
1 measur.e, embodying . those general
ideas, seems certain to be enacted at
this session. ^ ^
, .\mong objections raised to the bill
]as introduced, one is’"that it is too
I complicated; that it ought to be di-
jVkled into four bills, covering the four
subjects. The principal objection is
that the "'$30 a month old-age pension
isn’t high enough to satisfy tKe advo
cates of the Townsend plan. The pree-
jident himself, in,his talk to newspa
per men about it, suggested that the
pension figure might be.raised to $40.
The influence ql the advocates of the
Townsend proj^ for $200 a month
pensiona for eym^body over 60 la
I *. ■ — 1 -
j amazing, especially in the lower
j house. And they want it now.
I The VV’agher-Ijewis bill would defer
knnuiti^.s granted as a matter of
! right until'1942; ijensions granted be-
i fore then will be only to tho.se who
jean prove that they are practically
destitute, and until 1940 the age limit
for .such pension.s may be fixed at 70
years instead of 66.
The big fight of the old age fea
ture of the measure-will be, then, on
three fronts—to reduce the age limit
to 60, to increase the monthly pen
sion to much more than $30, and to
make it Include txith hurimnd and
wife, to provide for payments to
everybody of the required age without
JU
Deposits Larger
In State Banks
31 Per Cent Increase During
1934 Reported By Chief Ex
aminer Thomas H. Dani.el.
Columbia, Jan. 24.—A statement is
sued today by Chief State Bank Ex
aminer Thomas H. Daniel showe<l an
increase of 31 per cent in deposits and
24.9 per cent in total assets of state
banks during 1934,
The statement, based upon official
reports to Daniel's office, gave total
deposits on December 31, 1934, as
$65,653,518 as compared with $50,-
112,898 on the same datr^Ti 1938.
Total assets in state i^nka and de
positories amounted to $78,747,427 at
real cheap source of
— A
phosphoric
acid and lime. Save money by mixing
fRattCFTT and^ Tefintzer fdnnulaer W. TJ.
White, distributor, Chester, S.-CL Ip
IF IT CAN BE CLEANED (JR
pressed, Royal can do rt. Royal Dry
Cleaners. South Broad Street, Phone
77. tf
FOR SALE—Poland China pigs and
shoats., Also beef cattle. See them
at Little’s Farm near Cross Anchor.
A. D. Love, Mgr. * 2-7-3tc
FOR RENT — Do^stairs apartment,
two large unfurnished rooms, kitchen
ette and private bath, with garage and
u.se qf telephone. Apply to W. M. Mc
Millan. Itc
■4
FOR .SALE—One Wi.sconsin incubator
and brooder, capacity 140 eggs. In
good Condition. Price $8.00. Four two-
horse turn (plows, $4.00 each. Charles
ton cabbage plants,.15c per 100. J.
Me .M ilIan, phone 394-W.
New
If ?oii roald trad*
lazy Kidneys for
maiicalty rstrld
Dizzineaa. Rhayiiteti
Acidity
iry ib« trtiiwiaad Dsclae'a apseiai proacrip-
tioB ttH«d CYSTDC CMm-uxL Muat Aa yo*
•u At • days w wmmt back At aN
Isetad tirsd aad
ansa yon would aaU>-
it Uaia*. Ninronaiiaaa.
Bamiaa. Itcluna aad
t fneOaitat IMaey dttMOara
RIC HAND
EASIER, SAFER DRIVING... YOU SHIFY GEARS
AY IRE WHEEL . . . ^oor all clear in front
^A great idear^aay thousands small amount extra, on all
who are enjoying this brand other- 1935 Hudsons and
new drivi^ experience — * Terraplanes. And these cars
this vastly better method of offer many other th^^igs that
ear <k>ntrol — in 1935
udson-built cars. With the
Electric Hand^ yon shift as
yon always Jiave, yet never
take your bands-'from the
wheel. You can select in ad
vance the gear you want to
use next; the Electric Hand
does the shilling.
Crowds are flocking to see
this '^suriArisc feature.” ft's
standard on Hudson Custom
are nets.
The fir»t strol roof. Steel all
around you, a steel floor
beneath, steel overhead.
Bendix Rotarr'FTqualized
Brakes that stop you more
quickly, more smoothly, in
n short, strmght line. Great
performance made greater.
But you will wAmt to check
for yourself. Come and see
these cars. Look at the
Eights and optional, for a others, too. Compare.
■HRMWOnw
TEMMPIJUIE
Specidl and DdLnxe v
88 or lOO'Honepower
li^at/hcaatyr/ar
HUDSON.SIX
9psrfal Series
93 or 100 Hozsqwwer'
*69S
HUDSON EMHT
ecial, DeLuxe, Costom
8^or 124 Hon^^Kuwer
*760
(V 'f/hisaiy/ir Biaaad
Oassriciic IMS. Bodm iMar Car Oa.
"1
TERRAPLJINE
J.K. HATTON V ^
CLINTON, S.C.
TraE IN ON RUDSON “NEW STAR REVUE” K.te S«iOi_ET«, Hwd>T
8:30 E.S.T., 7:30 C.S.T., f:30 MJ3.T., 8:30 PAT.—-over the Coloaibia Broadcastiag Systeai.
L-
\