University of South Carolina Libraries
«r FRIDAY, JUNE 21, 1946 THH WEWDEnnT SUN The Veterans' Corner G1 LOAN PROGRAM VALUABLE BENEFIT Of all the benefits available to vet erans, there is none more valuable— and none more widely misunderstood —than the loan guaranty program of the Veterans Administration. So far, only a relative few returned service men have taken advantage of it. Out of approximately 1,500,000 veterans in five southeastern states, barely 11,000 have even applied for the loan benefits. Many thousands have thought lessly dismissed the entire program as ‘hopelessly tied up with red tape.’’ Actually, there is none at all and probably no other business transac tion involving such sums can be handled so simply. Many thousands more just do not understand the pro gram and because they don’t, haven’t even bothered to find o ut about it. In actual fact, the VA loan pro gram isn’t a loan at all as far as the government is concerned. The Vet erans administration simply guar antees a portion of a loan which a veteran negotiates with a private lender. Phrased simply, that means that the Treasury of the United States is endorser of the veteran’s ! note. The result is to make the | , veteran an jdeal credit risk. Because i they are such safe investments, loans guaranteed by the Veterans Admini- I stration may not carry more than 4 percent interest. Over the years, that alone means a saving of hun dreds of dollars to veterans borrow ing under the program. In addition, the government actually pays the veteran a sum equivalent to the first year’s interest. * The following questions have been most frequently asked about the loan guaranty program. Later col umns will explain further details of the invaluable privilege available to former servicemen. Q. Who may secure guarantee for borrowing money under pro visions of the amended Servicemen’s Readjustment Act c f 1944 ? A. Any person who was in ac tive military or naval service of the United States on or after Septem ber 16, 1940, and was discharged Just Received A Large Shipment of 600 x 16 Tires & Tubes Also a Few New Plymouth Engines Baker-Summer Motor Co. DeSota Plymouth under conditions other than dishonor able after 90 days’ service, and any member with less than 90 days’ serv ice who has been discharged as a re sult of having been injured in line of duty. Q. For what purposes may eli- gibies under the law secure loans? A. For the purchase of real es tate, homes, farms and businesses; for repairs, alterations and improve ments to buildings and land; for the general business operations including the cost of acquiring supplies, build ings, equipment, vehicles, tools and stock in trade; also for working capi tal and operating expenses. Q. Where may money be borrow ed under the Act? A. Money may be borrowed where people normally go to secure loans, j such as banks, savings and loan as sociations, public and private lend ing agencies, or from individuals. Q. How may a veteran find a lender A. By inquiring jn the communi ty where he lives as to the lenders in his area who make the type of loans he wants. R - U AWARE? AFRICA arts ITS NAME FROM THE LONG FEATHERS ON EACH SIDE OF ITS HEAD-RESEMBUNG A QUILL BACK OF THE EAR. laa NATIONALLY FAMOUS DIAMOND RINGS “MAKE IT A MILLION!” ENLIST IN A GRADE WITH YOUR ARMY MOS A GOOD JOB Fok YOU II. S. Army CHOOSE THIS FINE PROFESSION NOW! GROUND FLOOR EXCHANGE BANK BUILDING NEWBERRY, S. C. Army veterans who held certain Military Occupational Specialties may reenlist in a grade commensu rate with their skill and experience, provided they were honorably dis charged on or after May 12, 1945— —and provided they reenlist beiore July 1, 1946. Over three-quarters of c million men have Joined the new Regular Army already. MAKE IT A MILLION! Full facts are at any Army Camp. Post, or Recruiting Station. W.E. Turner JEWELER TRUCK TIRES Are Scarce WE HAVE THEM IN STOCK The Famous DAVIS Rayon Cord Construction SIZES: 650 x 20, 32 x 6 700 x 20, 32 x 6 750 x 20, 34 x 7 825 x 20 Users Of Truck Tires Are Asked To Investigate For Money Saving Prices on Quality Tires. Western Auto Associate Store R. P. MEDLEY, Owner Demonstration HOME .. BY ETHEL L. COUNTS Serving raw vegetables as the first salad-eaters tried them, is one way to save fats urgently needed in the world’s food crisis, say home econo mists. The first salads were simply raw green vegetables with salt and seasoning, and that is how salad got its name, from the Latin “sal”, mean ing salt. Most people today enjoy some kinds of raw vegetables served crisp and cold with salt or, perhaps, with no seasoning. The following list, which, the home economists say, does not exhaust the possibilities, in cludes kinds that some people may not have thought of eating uncooked-. White flowerets of cauliflower. Green bud “bouquets” of broccoli. Leaves of tender greens. Tiny yellow squash and tiny beets—from gardens that yield generously enough to warrant picking a few baby vege tables for salad variety. Crisp strips of turni.p, yellow or white. And, of course, carrot strips, cabbage wed ges, green pepper rings, onion rings, cucumber slices, and tomato, celery, radishes, lettuce, watercress, parsley. Now adays when vegetables are served raw without dressing, they are ofte n arranged attractively, several kinds together, on a relish plate. Or, sometimes, a raw vegetable takes the place of one cooked vegetables. Eating one raw vegetable a day can mean an extra helping of vita mins, say the home economists, be cause there is likely to be less loss of vitamins than when the food is cooked. For vitamin-saving, it is best to prepare raw vegetables at the last minute before mealtime. If a raw vegetable is packed in a luneh- box, the best protection is to wrap it well in waxed paper, or put it in a covered glass jar. The slogan, “Reach for a potato instead of bread,” is a very good one n ow- for South Carolina folks. The Coastal counties are now havesting one of the largest and best quality crops of potatoes that have been pro duced in several years. The use of potatoes now will release wheat and wheat products for famine relief. It is very important that as much wheat lie sent to the famine area within the next GO days as possible. The substitution of potatoes for wheat products will make possible the reduction asked by the President. Now that potatoes are plentiful, we should use them as much as pos sible to replace bread. They are bulky and perishable and can be shipped aboad only in limited quan tities. Q. What is the first step to ward securing a loan? A. Determine what you are going to buy and what jt will cost. Be able to present to lender complete plans and specifications for new construc tion or improvements. Q. What is the maximum guaran ty that may be issued to a veteran? A. On real estate loans $4,000 or on personal property loans $2,000. The government guaranty cannot ex ceed 50 percent of the amount of the loan. Q. What is the largest amount a veteran may borrow and have the loan guaranteed? A. The size of the loan depends on what the lender is willing to lend. The limitation is upon the amount guaranteed by the VA, not upon the size of the loan. Q. Is there any restriction on the use of the money? A. Yes, to some extent, but the proceeds may be used for the purch ase of homes and for all ordinary business and farming puproses. Q. Where may the necessary forms be obtained? A. Most lenders have forms and other necessary papers and fill them out for veterans. Any lender may obtain forms from any VA Regional Office. Q. Does a veteran need a certifi cate of eligibility from the Veterans Administration when he goes to his banker? A. The presentation of an honor able discharge certificate should be sufficient evidence for a lender to be gin negotiations with an applicant. If the lender is in doubt as to the Veteran’s eligibility he may, of coure, ask VA for a certificate before beginning negotiations. The veteran may get such a certificate by bring ing his original discharge to the VA Contact Office at 1113 Boyce street. It will take about ten days to get the certificate. Q. If one lender rejects a vet eran’s application for a loan what should the veteran do? A. He should reconsider whether his proposition in a sound one, and if he is convinced it is, he should try another lender. Q. What is the limit on the ma turity of a guaranteed loan? A. Loans must be repaid on busi ness a nd home realty within 25 years, and on farm realty in 40 years. Non- real estate loans must be repaid with in 10 years or within the economic life of the security. Q. May a veteran pay off a loan before it becomes due? A. Yes, and without penalty or unearned interest. Q. May a veteran use a loan guaranty to acquire an interest in a going business? A. Yes. The law provides that the funds must be used in “pursuing a gainful occupation”. This means the veteran would have to be active in the business. Golf is a game where a ball 1 1-2 inches in diameter is placed on an other ball 8,000 miles in diameter. The object is t 0 hit the small ball, but not the large one. MAJOR T. J. WEST, who landed in the States on May 24 in New York, arrived at Fort Bragg, N. C., On June 9th, then came to Newber ry on June tenth and joined his wife where they are making their home for the present in the home of Mr. and Mrs. L. G. Eskridge on Boundary street. Major West is on terminal leave until August 17t after which he will receive his official discharge from the Armed Forces at Fort Bragg, N. C., separation center. He was a member of the armed forces three and one-half years, with 18 months overseas service jn the European theatre as a member of the Trans portation corps. Major West was awarded the American Theater ribbon, the Euro- pean-African-Middle Eastern ribbon, the World War II Victory medal, the American Occupation medal (Germany), and the Unit Citation plaque. How to Be your own good fortune teller No matter what sort of star you may have been bom under . . . —there’s one sure way of foretelling your financial future, without benefit of palmistry, tea leaves, or gypsies. It’s the little Savings Bond Horoscope you see above. In just a few seconds it can show you how a little money saved every week gets you a whole l,‘ of money at the end of ten years . . . —money that will go a long, long way in helping to make the future safer and brighter for you and your family. Remember, you can buy U. S. Savings Bonds just as you bought War Bonds— through your Payroll Savings Plan. You get the same safe investment, same high returns. $25 for every $18.75 in ten years. So . .. tell yourself your own good fortune now—then let your Payroll Savings Plan help you produce what you predict! SAV£ m EASY WAY... tUY Y0UK BONDS THROUGH PAYROLL SAVINGS M System Store 1213 MAIN STREET Phone 48 Square Grocery Store 1018 MAIN STREET Phone 300 What'll you do when you're 60? Retire . . . travel. . . see the world . . . indulge your hobby? Or watch your friends dp these things while you work till you die? \ ou’re only old once. Enjoy those years. Save up for them. Put money regularly every payday into U. S. Savings Bonds—the same gilt-edged investment formerly known to you as War Bonds. And do it the easy way—by staying on the Payroll Savings Plan. It’s the sure way—the only way millions have ever been able to save real money for the really big things they’veal ways wanted. SAVE THE EASY IVAY... BUY YOUR BONDS THROUGH PAYROLL SAVINGS Newberry Insurance & Realty Co. E. B. Purcell, Pres. Carolina Remnant Store Corner Caldwell & Friend