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ECONOMIC
HIGHLIGHTS
Happening* That Affect the Din
ner Pail*, Dividend Check* and
Tax Bills of Every Individual. —
National and International Prob
lem* Inseparable from Local
Welfare.
A short time ago the rules and
regulations of procedure under the
new Federal Securities Act (design
ed to protect American investors
against worthless stock issues, dis
honest and misleading investment
claims) were made public. Restric
tions are strict, definite, decisive.
Underwriters must file with the
Federal Trade Commission full par
ticulars before they can sell new
securities. Statements will be
studied by Commission accountants;
thereafter the Commission may ei
ther permit the sale or cause the
securities to be withdrawn. Regis
tration statements will be open to
public inspection and copies will
be furnished at moderate cost to
interested parties.
Any sales prospectus issued by
the security sellers must likewise be
filed. It will be studied with a view
to determining whether it omits
any information necessary to decide
the value of the offering, whether
it is misleading, not sufficiently
clear, ect. In case radio broadcasts
are to be used in promotion, these,
too, must be given Commission ap
proval. A large amount of tech
nical information will be required
by the Commission when registra
tion is made. It includes: Names
and addresses of all persons owning
more than ten per cent of any class
stock of the security issue; remuner
ation exceeding $25,000 paid by the
stock-issuer during past year and
to director officer; the estimated net
proceeds to be derived from the
security. Commission costs will be
borne by a registration fee of one
hundredth of one per cent of the
maximum aggregate price at which
the securities are proposed to be
offered.
Thus, the new bill is more sweep
ing in its requirements than any
similar measure we have ever
known. The strictast state “blue
sky” law pales by comparison. What
effect so drastic a law will have on
legitimate promotions when there
is room for honest difference of
opinion in making statements and
reports, remains to be seen.
As the always vivid Frank Kent
said in the Baltimore Sun, the
extraordinary thing of the moment
is that recovery has come before
the recovery program has gotten
started. None of the three billion
public works dollars have been
spetn. The first agreement under
the Industrial Control Act has just
been signed, and has not yet had
time to produce results. The vast
farm plan is still in the prospective
stage. Yet business is looking up—
all kinds of businesses, in all parts
of the country. The psychological
effect of bills designed to aid recov
ery unquestionably were a factor in
getting wheels in motion.
Domestic prices recently reached
the highest level in close to two
years. Current upward movement
has been the best sustained in more
than a decade. In 66 business days
the Dow Jones average of 40 corpo
ration bonds rose 14.33 to 87.86.
Particular business items of interest
follow:
POSTAL RECEIPTS Reports
from 50 cities show improvement of
13.55 per cent in June as compared
with previous June.
BANK DEPOSITS Substantial
gains made in second quarter.
POWER PRODUCTION—Is mak
ing steady and sharp advances.
CAR LOADINGS—About 25 per
cent better than last year at this
time.
RAILROAD EARNINGS—
Expenses are down and gross reve
nue up, presaging greatly improved
net income showings.
STEEL—At highest point since
April, 1931, exceeding 50 per cent
of capacity.
WHOLEALE PRlCES—Steady ad
vances registered week by week.
Recent gains included farm prod
ucts, fuel, lightning, metals, build
ing materials, household goods, etc.
STOCK OF GOODS —Stock of
finished goods in hands of distribu
tors are still low, and active demand
will be reflected in restocking.
EMPLOYMENT - PAYROLLS—
Showed moderate increases recent
ly. More aggressive advances ex
pected in near future.
They’re beginning to talk already
about the next Congress, which
convenes January 3rd for its first,
regular session.
Tax changes, reciprocal tariffs,!
bankruptcy revision, veterans bene-1
fits, war debts—here are a few of,
the principal economic-social sub-'
jects that will be thrashed out. It
is an open secret that Mr. Roosevelt
is not through with his program—
he got much out of the last Con
gress, and he will ask much from'
the next. He will doubtless havel
THE OPEN FORUM
NEWS READER REPLIES
TO MR. MALOY
Editor Early County News:
I have followed with some in
terest your discussions of the Tal
madge coupe de main. The position
you have maintained is eminently
correct. Imagine my surprise then
upon reading your correspondent’s
letter published in July 20th issue
of the Early County News. It is
truly remarkable the utter abandon
with which this gentleman confounds
sophistry with logic. He takes for
granted in his premiss the points
he wishes to prove and his paper is
not a reasonable argument but a
syllogism. To show how false his
method of reasoning is let’s para
phrase the well kriown syllogism, e.
g., man is a rational animal; Mr.
Maloy is a man, therefore Mr. Maloy
is a rational animal. Now anyone
can readily see that this conclusion
is erroneous. They tell me the legal
mind is a tortuous thing, but even
a lawyer would reject this conclusion.
Likewise must we reject our loqua
cious friend’s panegyric on Mr. Tal
madge.
The dictum enunciated by Presi
dent Roosevelt is outlining his Re
covery Program—we do not intend
to commit another wrong to right
a wrong—is the only procedure con
sistent with equity. Mr. Talmadge’s
high-handed methods are an affront
to people who hold democratic prin
ciples sacred. If such methods are
allowed to prevail it will be an evil
day for Freedom. The price of Free
dom is eternal vigilance. It seems
to me the people of Georgia have
been cajoled into a state of apathy
by the persuasive demagoguery of
a mountebank. The awakening is
apt to be painful and to alleviate
that pain it will take more than the
gushing verbosities of our learned
solon, Mr. Maloy.
Yours truly,
NTMPORTE.
IN THE FUTURE, WHAT?
Editor Early County News:
Democracy is today on trial. Has
it failed? Japan, governed by an
emperor whose will is absolute, is
the most prosperous country in the
world, with the possible exception of
Italy, where Mussolini rules as dic
tator. Hitler, the German dictator,
has overthrown democracy in Ger
many, but hasn’t had time yet to
show whether he is big enough for
the job or not.
In our country the legislative
branch of our government is so cum
bersome that no relief measures
could pass. So, when President
Roosevelt asked for dictatorial pow
ers, Congress granted it rather
than face a threatened revolution.
All Mr. Roosevelt’s policies may not
be for the best, but he says if he
fails in one he will try something
else. Taking office at the most
critical period of our country’s his
tory, he must win or Bolshevism will
result. If he wins he will have
shown himself to be the greatest
President that ever occupied the
White House. If he fails, then the
deluge.
Every citizen of the U. S. should
be glad to support the President in
this crisis in every way possible, not
only for his own prosperity, but for
life, liberty and the continuity of
the land of the free and the home
of the brave.
In Georgia we have at the head
of our state Eugene Talmadge, who
is determined to drive out graft
and favoritism in governmental af
fairs. You may not like his meth
ods, but he gets results. If Tal
made succeeds in carrying out his
campaign promises and gives us an
economical administration minus
graft, it will be without the aid of
the Georgia Legislature, one of
whom takes pleasure in saying,
“Talmadge hasn’t got any sense.”
This accusation is made ridiculous
by facts. It seems to us the gover
nor has proven he has more sense
than all the lawyers in the State who
could be hired by his opponents.
Here’s hoping he will succeed in his
efforts to purify the state govern
ment, and relieve the burden of
taxation that is crushing the eco
nomic life out of our people.
The county, municipal and school
district authorities will do well to
follow' suit.
Trusting implicitly ip the ability
and integrity of our leaders, both
state and national, we look forward
with confidence to an era of good
government and prosperity.
E. S. COLLINS.
| introduced a sweeping, revolutionary
; banking bill, which will eliminate
I state and private banks. Another
' prospective proposal of vast import
ance is a transportation act to bring
! railroads, highway carriers, barge-
I lines and air vehicles under central
ized regulation. Again, it is be-
I lieved that the securities bill, dras
: tic as it is, will be made still more
I rigid and fool-proof.
EARLY COUNTY NEWS, BLAKELY, GEORGIA
SOME HAPPENINGS IN BLAKELY
A QUARTER OF A CENTURY AGO
Clippings from the Early County News of
July 25th, 1908
MRS. C. B. FETZER is down from
Atlanta on a visit to relatives.
MR. AND MRS. J. B. McCampbell
and children returned to Texas last
Thursday.
MISSES Maggie and Minnie Dale,
of Arlington, were the guests of Miss
Hattie Lee George this week.
MISS ROSA WOOLF, of Shorter
ville, Ala., is visiting Mr. and Mrs.
D. B. Jernigan.
MR. P. C. HARRELL and Miss
Mattie Jenkins, of the Union neigh
borhood, were married on Wednes
day. Justice W. J. Kenney perform
ed the ceremony.
THERE IS quite a colony of Blake
ly people at St. Andrew’s Bay, in
cluding—Messrs. J. C. Camp, J. E.
Martin, J. T. Freeman and son,
Gatewood, Mr. and Mrs. H. E. Ham
mode and children, Mr. C. F. Cole
man and family, Mr. C. E. Boyett and
family, Mr. J. W. Swann and family
and Mr. A. J. Fleming.
MISS LORENA MARTIN enter
tained on Friday last at her pretty
country home. Those present were:
Misses Etha and Nina Brown, Dora
Bins, Irene Clements, Jessie Cham
bers, Mattie Jones, Lavinia Morton,
Lee and Eddie Mosely, Vesta and
Kitty Minter, Mary Harvey, Addie
Mosely, Eula Lane, Mattie Pyle,
Corean Reed, Mattie B. Roberts,
Maynie and Florrie Mosely, Mary
and Abbie Roberts, Tommie Sessions
and Messrs. Hugh and Hardy Brown,
Ed Chambers, R. L. Cherry, J. W.
Davis, E. A. Evans, Frank Fuller,
Thomas, Quitman and Douglas Har
vey, Steven Hodges, John and Clar
ence Martin, Lon and Wallace Slap
pey, Early Reed, Fred Martin, Henry
McLaurin, Elton B. Mosely, Eugene
and Henry Martin, Clarence Mosely,
Charlie and Roy Lane, Ambrose and
Hugh Martin, H. T. Singleton, Free
man Sessions and Dr. W. O. Howard.
9 IN ANSWER TO A LADY’S LETTER
A lady writes to say that she does not understand why an 8-cylinder
car does not cost more to run than a car with fewer cylinders. She
refers to my statement that our Ford V-8 develops more power on a gallon
of gas than any car we have made.
The use of 8-cylinders does not mean the addition of two or four
ijfefe extra fuel consumers. It is not, for example, a 4-cylinder engine
multiplied by two. Our 8-cylinder engine takes the fuel supply of an
WS 4 ordinary 4-cylinder engine and divides it eight ways. And why?
By reducing four larger explosions into eight smaller ones, we get
engine smoothness and quietness. Eight-cylinders indicate the way the
gas is used, not the amount. It is just the difference between going
upstairs in four long jumps or in eight ordinary steps. ~
Two things use up gas—bad engine design and useless car weight.
IlilM Besides having an engine that gets a high percentage of power out of the
fuel> the Ford V-8 has a light, strong body and chassis so that no power
is wasted in moving excess weight.
The only extravagance about the new Ford V-8 engine is m the building
O s it. The extravagance is ours—the economy is yours.
The whole question of car economy needs clearing up. An economical
car gives economy all round. Price, operation, upkeep, all play their
part. If what you save on gas you lose elsewhere, that is not economy.
As to upkeep, our dealers say that in recent years the improved
quality of Ford cars has cut down their repair business 50 per cent.
S As to price with quality, —judge for yourself. I
As to economy, here is the record of a stock car three weeks out of
shop in Oklahoma: I
On a run of 10,054 miles at the rate of 1,000 miles a day—the Ford
V-8 gave 18.8 miles per gallon of gas. Not a drop of water was added I
to the radiator. The oil was changed once in 1,000 miles.
That should answer a lot of questions.
July 24th, 1933 I
MRS. J. L. UNDERWOOD and
children and Mrs. T. M. Howard re
turned Monday from Stewart coun
ty.
REV. C. R. JENKINS, of Wesley
an Female College filled the pulpit i
at the Methodist Church here last
Sunday.
CHIEF OF POLICE A. M. Irwin
has completed the census of Blakely
revealing 2106 inhabitants —1217
white and 889 colored.
ROUTE 5 NEWS, by Bill Snipes,
says: “Mr. Theo White was the first
to have open cotton on No. 5.” “A
wee little Miss has arrived at the
home of Mr. and Mrs. W. J. Kenney,
Sr.” “Messrs. George Kenney and
Joe Allen left Tuesday for Atlanta.”
HILTON R. F. D. NEWS, by Kid,
tells us that: “Mr. J. A. Cannon was
Grier, of Freemanfoi th m hmmm
down to Jakin this week.” “Mr. Eb.
Grier, of Freeman, was over on the
line Wednesday.” “Mr. Tom Preston,
of Cedar Springs, was up this way
Tuesday.” “Mr. and Mrs. Jesse Mc-
Lendon, of Cuba, visited on the line
Sunday.” “Miss Rena Nash, of Blake
-I}' No. 1, visited the family of Mr.
W. W. Weaver the past week.” “The
stork visited the home of Rev. Willie
Wiley on the 17th and left a young
lady and a young man.” “Miss La
vinia Morton, of Haddock, Ga., is
the guest of Miss Lorena Martin.”
“Mr. Ambose Martin, of Jacksonville,
has been visiting home folks this
week.” “The following visitors were
on the line during the protracted
meeting: Misses Mary and Abbie
Roberts, Lee and Homa Mosely, Mat
tie and Georgia Pyle, C. W. Mosely,
of Cedar Springs; Miss Irene Alex
ander, of Blakely, Mr. Lint Mercer,
of Colomokee; Miss Dora Bius, of
Shellman; Mr. Bob Lee Cherry, of
Edison; Mr. A. C. Martin, of Jack
sonville.”
H. T. WILLIAMS
Market and Grocery
WE DELIVER PHONE 97
Coolest corner in town. Plenty fans and
circulating ice water Chipstead old
stand southwest corner public square.
FOR FRIDAY AND SATURDAY
FANCY LEMONS Jozen 20c I
PINK SALMON Fl £ 10c
SARDINES 3 10c
CHARMER COFFEE c .„ 15c
MUSTARD or CATSUP, gallons 50c
NO. 1 TOMATOES c .„ _ 5c
BROOMS, good 4-string 25c
POTATOES, No. 2, 5 lbs 17c
POTATOES, No. 1, 5 lbs 25c
COOKING OIL Gallon 60 c I
BEST WHITE MEAT 'ound lie
Dried APPLES and PRUNES, lb 10c
GUARANTEED FLOUR 24 80c
BULK TEA, lb . 30c
IN OUR MARKET
Hockless Picnic Hams, 5 to 6 lb., lb.
CHEESE 99 Smoked QC
Pound faiAiC Sausage, 2 lbs faiVV
CREAMERY WEINERS— -| £
BUTTER, lb.™ OvC Pound IOC
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THE NEWS FOR JOB PRINTING