The sun. [volume] (Newberry, S.C.) 1937-1972, June 21, 1946, Image 7
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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