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PAGE FOUR
TEN
ATHENS BANNER HERALD
: ESTABLISHED 1832
Published Every Evening Except Saturday and Sunday and on Sunday Moruing by Athens Publishing
(o. Entered at the Poct Office at Athens, Ga. a 8 second class mail matter,
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DAILY MEDITATIONS
Now our Lord Jesus Christ
himself and God, even our
Father which hath loved us,
! and hath given us everlast
ing consolation and good
hope through grace.
Comfert your hearts, and establish you in every
good word and work.—2nd Thesalonians 2:16-17.
_.——_—__'._—__—-——_————————————
Have you a favorite Bible verse? Mall to
A. ¥, Pledger, Holly Heights Chapel,
i i il
.
Loan to Argenfina Reall
Bails Out J re itorsy
ils Qut U. S. Cred
BY PETER EDSON
NEA Washington Correspondent
WASHINGTON.— (NEA) —Washington is get
ting awfully palsy with Peron these days. A group
of Argentine journalists is visiting the U. 8. The
Argentine chief of staff, Lt.-General Victor Jamie
Majo, is touring the country at U. S. government
expense, And then there was this matter of a $125,-
000,000 credit, granted to a combination of Argen
tine banks by the U. 8. Export-Import Bank, with
some gentle urging by the U, S. State Department,
Effect of this loan has not been good in other
pirts of Latin-America. It has created the impres
s'on that the way to get a loan from Uncle Sam is
to o bankrupt. It may cause political upsets in
Fouador and Uruguay, And the Chileanos, who have
be>n the real solid co-operators with the United
States, are openly expressing their disgusto.
About this U. S.-Argentine big deal, however,
there is considerable misunderstanding. President
Peron once said, several years ago, that he would
cut off his right arm before he asked for a loan. He
still has his right arm. And he has the promise of
a loan,
He got around this difficulty, not by “asking for
a loan,” but by having a group of banks “accept a
credit,” They are twins, but the latter seems to be
tonier,
The group of Argentine banks accepting the
cradit is pretty much of a front. All banks in the
Argentine are just the same as nationalized and un
dor tight government control. The $125,000,000 U.
S. bank credit they are accepting is guaranteed by
the Central Bank of Argentina,
BIG U. 8. BANKS ARE ON THE HOOK
How much of a guarantee that is may be ques=
tionable. It recalls the story of one American offi
cial who was asked to cable his headquarters a copy
of the Bank of Argentina's statement. His reply was
that it wasn’t worth the cable tolls.
But the biggest catch 19 the Argentine loan—or
credif~is that not a cent'of the money is going to
leavé the United States. This point has not been
clearly understood.
What the Export-Import Bank has really done iz
not to bail out the Argentine, but to bail out a
number of U. 8. banks and big and little business
firms who have tried to do business with Peron.
They have shipped goods to the Argentine on
credit, and have never been paid for them. So the
moral question here is not whether now is the time
for the U. S. government to come to the ald of
Peron and his party. It is whether the U. S, gov
ernment should come to the aid of American busi
ness firms who have not been very smart in their
deals with Peron.
Best estimates in Washington are that the Argen
tine has $108,000,000 worth of commercial debts in
the United States. In addition, there are about $30,~
000,000 worth of Argentine government debts in
this country, Nobody has a very clear idea of what
these Argentine government debts are for,
There is a somewhat better idea of who has been
holding the bag for $108,000,000 worth of private
debts, Koughly one-third is owed to 19 U. 8. banks.
Four are big banks, National City Bank of New
York and. First National of Boston are on the hook
for about $7,000,000 apiece, The New York agencies
of Bank of London & South America and Royal
Bank of Canada are in for lesser amounts.
UNEKNOWN AMOUNT OWED
SMALL EXPORTERS
Another third of the debt is owed to U. S. big
business firms. Most of the well-known namres are
represented—lnternational General Electric, West~
. inghouse, Ford, General Motors Export and so on.
The other third is owed to over 300 smaller U. S.
exporters and manufacturers who have been stuck
for varying sums of SIOO,OOO or under. There is no
known list of these creditors in the U. S. now.
Central Bank of Argentina and the bank group
have been asked to send representatives to Wash
ington with full information, In screening all these
papers, Export-Import Bank is likely to throw out
all elaims for payments for munitions and for such
luxuries as Koehler bathrooms for Evita and Cadil
1-cs for Peron.
The Argentine government will be told to pay
1 ose itself. But all legitimate transactions—such as
ior farm machinery, locomotives and other manu
factures—will be considered for payment.
The big question which this deal raises is whether
it will merely set the Peron government up to pile
on another indebtedness. Opinion is divided on the
answer,
The small business firms probably won't let
themselves get burnt again, And the big banks
probably won't let themselves get so deeply in
volved, But the big manufacturing exporters will
Probably be right back in there, doing business at
the same old stand and in the same old way, in very
short time.. Competition will force then to extend
Bew credite, and they'll hope that Uncle Sam will
again collect thoir billg for them.
’
GM-Auto Workers Pact
.
Promises Peace so Industry
Barring the unforeseen, there will be no strike
at Giant General Motors unul at least May 28, 1955,
And the prospect is the best news this country has
had in a long time,
GM produces more than 40 percent of U. 8. cars.
It has 275,800 workers scattered through 100 plants
all over America. Its activities, like those of other
motor makers, affect the operations of thousands of
suppliers large and small, \
So five years of uninterrupted labor peace will be
a wholesome, stabilizing influence in the whole U,
S. economy. y
This outlook is possible because of the construc
tive attitude shown by both GM and the United
Automobile Workers in negotiating their new con
tract. In this agreement there is clear evidence of
a give-and-take spirit and a real concern for the
public interest,
The perfornrance stands in contrast to the bitter
bargaining that accompanied the 100-day Chrysler
strike, and to the more rrcent pointless walkout of
railroad firemen against four major lines.
The GM agreement can’t be opened for any rea
son whatsoever during its lifetime, In return, the
company guarantees its workers an annual four
cents-an-hour wage hike to be added to basic rates.
Walter Reuther, UAW head, characterizes this
feature as a reward for continuing increases in
worker productivity, He sees it as the end of a long
struggle for wage increases “that aren’t immedi
ately reflected in price increases.”
No question, it is a new and imaginative device
for accommodating wage demands without the pos
sible disruption of production at great cost to all
concerned.
The union also got hospital-medical benefits, im
proved insurance, a modified union shop and pen
sions that may range from SIOO to $117.50 a month,
Retained in the contract was the escalator clause
providing for wage adjustments tied to the ups and
downs of the government cost-of-living index.
These changes would have no wupward limit but
could bring wages no lower than established basic
rates, The union wanted to scrap the plan but gave
in on this score, X
If the Russians are still hoping a U. S. depres
sion is just around the corner, the new GM contract
will make discouraging reading in the Kremlin, It's
no guarantee of prosperity but it's certainly a
healthy hedge against serious trouble,
- .
Last of a Vanishing Race?
The first man to drive a ‘car through New York’s
new Brooklyn-Manhattan tunnel, second longest in
the world, was a 31-year-old subway motorman
named George Horn,
To Mr. Horn the experience wasn't unique. He
was first through the Lincoln tunnel connecting
New Jersey with Manhattan. He beat everybody
else through the portals at the New York World’s
Fair back in 1939. He dropped the first nickel in
the turnstile when a new subway line opened.
Reversing his field on occasion, he’s been last in
certain spots, too. He was the last rider on an old
“el” line about to be torn down. As a trolley car
operator, he took the last car over the Brooklyn
Bridge before the line was closed for repairs.
But, tunnels, bridges and subways notwithsiand
ing, New York’s traffic gets more snarled every day.
One expert thinks that before long the city may
have to bar all but the most essential vehicles
from downtown areas.
So Mr. Horn may some day have the dubious
honor of being the last man to drive a car in Man
hattan without a permit stamped “essential.”
I think the principal criticism should be direcfed
against the procedure that has been followed — to
make the whole affair a great public drama.—John
Foster Dulles, on McCarthy charges against State
Department.
Only an informed public opinion can win the
peace.—General Dwight D, Eisenhoweér on the role
of the press.
—_—
‘We must get the governnmrent in Washington back
on legislating for people as a whole and stop class
legislation.—Dr. Ralph Robey, chief economist for
NAM.
Thank God the Occupation Statute is not meant
for eternity, — West German Chancellor Konrad
Adenauer, on ‘“Allies “interference” into German
affairs,
The pressure of mankind’s desire for peace has
grown too heavy to be ignored much longer with
impunity. — General Carlos P. Romulo, president,
UN General Assembly,
No known instance of Communist subversion—
or any other kind of subversion—has gone uninves
tigated. No case where the facts warranted has gone
unprosecuted.—President Truman, on government’s
loyalty program,
Armed strength is like a three-legged stool, All
the legs must be the samelength. We need balanced
armed services . . . the kind of unification we had
during the war. — Captain Samuel Eliot Morison,
Harvard DUniversity historian.
I was reluctant to testify at all and I would not
have testified had I not been subpoenaed.—Ford
kam University Professor Louis Budenz.
THE BANNER-EERALD, ATHENS, GEORGI/
fi Coprenght 1950 by Wormine Blodk Ot by } w-»w_____g
R .
..THE STORY: Falling in love
had been far from her thoughts
‘when Clemency Norton became
nursery governess to Baba, small
daughter of Jon and Syrie Amber
ley, who live with Jon’s brother
Piers in an isolated but luxurious
North African home. Syrie had
been jealous when she saw Clem
ency with Plers and had warned
Clemency that Piers was a “born
bachelor.” Then one night a tire
blowout causes Piers’ car to skid
while he drives €lemency from
Biskra. For a moment he holds
Clemency closely. It was then that
she realized she was in love.
= % L
XVI
That evening, after she had put
Baba to bed, and eaten her own
solitary dinner, Clemency found
a book amond the beloved collec~
tion she had managed #to have
sent after her, and settled down
determinedly to read. But she had
not turned many Xages—and to tell
the truth she did not find it very
easy to concentrate on those—
before there was a tap at the door
and Justine came in.
Clemency started at her in
amazement. “Hello! I thought you
had gone to Algiers,” she said.
“Mrs. Amberley told me that you
were following her today.”
Justine shook her head. “No,
mademoiselle, Madame will share
her hostess’ maid. I am ~— sup
posedly on ’oliday. I am, in fact,
off for a few days tomorrow.”
“] see,” said Clemency; and
added, pleased for once to have
the French woman’s company:
“Do sit down.”
Justine drew forward a chair.
Then, unexpectedly: “He is kind
and very charming—the Colonel,”
said Justine, with evident sincer
ity. “’E is'uman enough to make
mistakes, but it is ver’ ’ard if ’e
have to pay for them too dearly.”
She flicked the ash rather angrily
from her cigaret, and the fact shat
her aspirates had almost all be
come mute and her English was
much more broken than usual, ad
vertised the fact that she was up
set. “Did you encounter Mr. Jon
Amberley while you were in the
town?” she asked.
“No,” replied Clemency without
any hestitation, as she rose to fetch
her knitting. If you had to tell a
lie you might as well make it
sound as convincing as possible,
and she felt that she had to tell
that one. The last thing she
wanted to admit was that she had
seen Jon Amberley. But if she had
hoped in that way to avoid dis
cussing him, she speedily discover
ed her mistake.
“« -
As she sat down again, Justine
A. D. Engles Reveals
Hadacol Relieved ...
Neuritis Pains %
caused by Vitamin 8,, 8,, Iron and
Niacin Deficiencies
Mr, Al D. Engles, a retired construe
tion worker, of 503 Dennis Street,
Houston, 'foxas. :
suffered from aches P
and (pa.ms of neu- = y
ritis (oftenreferred
to as rheumatic :
pains) —also from R
digestive distur- A
bances, gas, bloat- o IS
ing. But after tak- .. £
ing seven bottles of B
HADACOL, he feels
better than at any time in years. He
has no more neuritic aches or pains
—no more stomach distress. He can’t
praise HADACOL m&t:h. .
HADACOL gives s wonderful re
sults because it doesn’'t give tem-~
porary relief. MApAcOL treats. the
cause of such sickness when due to
deficiencies of vitamins Bi, Bs, nia~-
cin and iron. And so imporiant and
what you want — continued use of
HADACOL helgu prevent recurrence of
such miseries. Recommended by
m-x;{ doctors. rapbacoL is soid on
stri -back guaraniee. Trial
fl:;, 3‘13% family or hospital
Talks About Roadbuilding
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Anthony Cucolo, builder of the new Storm King Highway.
““Building roads in my commu
nity,” says contractor Anthony
Cucolo, ‘‘is a job that takes more
than men and materials.
““When I geta contract I've got
to have plenty of money to back
me up. So I go to my bank and
apply for a loan. You might al
most say that the bank is the
foundation of the roads I build.
““And whether it’s a construc
tion or materials loan I get, bank
serviceisalways good. That's
because banks have to bid for
people’s business much like | have
paused to admire the delicate
nightdress which she was making
for herself.
“You sew beautifully, Miss Nor
ten, If you want fattoml for lin
gerie, remember, I 'ave many — I
make most of Madame’s. And silk
is to be bought most reasonably
from the shop of Mamoud-Ali in
Biskra—tell him you are a friend
of mine.” Clemency thanked her,
and after a .moment’s silence in
which she lit another cigaret, Jus
tine continued: “Yes, Colonel Am
berley is too good for this menage
Today there has been big trouble,
Did Mr. Amberley come up here?”
“Yes,” said Clemency. “I
thought he looked very ill.”
“But naturally. One supposes
that he is ill. One might be sorry
for him, but there is something so
despicable about the weak.” Jus
tine shrugged her shoulders.
“Now for the mistakes of the
strong one c&n feel sympathy. I
must say mihe is with Colonel
Amberley. They should nevaire
‘ave come ’‘ere in the first place.
But what would you? For my
self, I believe firmly it was for his
brother’s sake ’e did it. And now
today ’e reached breaking point.
And what a row. Apparently the
Colonel saw Monsier Jon in Bis
kra — drunk, I suppose. And look
at ’im today. Plainly the whole
thing has crashed to pieces.”
Plainly also Justine meant to talk,
and somehow—apart from realiz
ing that it would be futile to try
to stop her — Clemency felt that
the time had come when she
would have to know what all this
was about.
“Nows Jon Amberley ’as gone off
—when he ’as drunk ’imself sod
den he will probably come crawl
ing back again.” Justine looked at
Clemency. “You are shocked.
Surely you gruessed what was
wrong?”
“You mean that Jon Amberley
drinks?” asked Clemency.
“But that is why he is here,”
Justine told her. “’E was drink
ing ’imself to death in England.
It is in the family—in the blood.
A—what you call it? ’Ereditary
thing.”’
“In the blood.” Clemency stared
at her companion in horror. “Col
onel Amberley’s brother?”
“rArf-brother,” said Justine
firmly. “Though always the Col
onel as thought and acted as if
they were full brothers—the fact
of their ’aving different mothers is
ignored. I tell you this all in con
fidence, but you would have been
bound to find out something was
wrong. Wait *till Madame comes
back. There ’ave been lapses be
fore—for the last six months ’e
has been drinking steadily. But
‘except once, not so much that
there ’as been an outbreak. Jules
tell me that last night the Colonel
saw him drunk in a case only fre
quented by the lowest—"
“I see,” said Clemency.
® = »
Justine gave her a sharp look.
“You think I talk gossip, Miss
Norton, but I like you. You are—
Dieu help you—one of this ’ouse
-oold now. You are bound to be
mixed in this.”
“But I don’t want to be mixed
in i:;;k said Clg:;ncy.‘ “I am here
0 after a, , Made
gzmpiselle,‘ftm private g;airrlsol my
ployers are nothing to do with
me. Don’t think I'm trying to be
superior or—"
“No, I think nothix]:f like that,”
Justine told her frankly. “You are
a lady — you mind your business.
But you were bound to know there
is 'ell let loose in this place. All I
wish to do is warn ygu — as a
friend. Never ‘et_ the wrong idea.
Colonel Amberley is a fine man—
‘too fine to be torn to pieces be
tween these two. 'E needs.some
one to protect 'imself from them
—perhaps from the consequences
of 'is own folly. But do not let
your mind be poisoned.”
(To Be Continued)
Brown university is the oldest
college in Rhode Island and sev
enth oldest in the United States.
to bid for road building contracts.
“It’s this kind of competition
that’s built America. Seems to me
this is a mighty fine thing for the
whole country and our people. As
a matter of fact I don’t see how
I'd be able te build roads without
our kind of banks to back me up.”
This is another in a series of
workaday stories about people and
their banks as told tothe . . ...
This is ome in a series of stories
of people as told to the...
CITIZENS & SOUTHERN
NATIONAL BANK
(Member Federal Depesit Insurance Corp.)
SQUEAKS
% From ®
The
ROTARY WHEEL
by SAM WOODS
Major Jack Key, Northeast Dis~
trict Manager for the Salvation
Army, gave a detailed report on
the Salvation Army to Rotary Club
at their regular luncheon meeting
in- Georgian Hotel Wednesday at
ong o’'clock.
Major Key reveaeled the stories
of two “Down and Outers” who
appealed to Salvation Army and
consequently emerged as better
citizens.
The speaker, who moved to Ath~
ens recently to fill the position he
now holds, expressed his satisfac
tion with his work here and his
liking for the city. “Athens,” he
said, “is a clean city, and all the
citizens seem interested in the
community.” ,
Major Key revealed the stories
tion for the thought and service
given to the various welfare organ
izations of the city by citizens of
Athens. He enumerated several
instances in which the Junior
Chamber of Commerce had been
very helpful to his erganization—
giving as an example the assistance
rendered by Junior Chamber in
providing toys and gifts for over
six hundred children during the
Christmas season.
. Many Applications -
According to Major Key the
Salvation Army Unit here has
handled 837 transient applications
during the past four months and
established seven service units in
this section in the same period.
The greatest need of the local unit
at present, he said, is for the
founding of a canteen unit.
W. A. Sutton, jr., introduced the
following guests: G. H. Walton,
Atlanta, with W. O. McDowell; R.
J. Richardson, Tifton, with W. A.
Sutton, jr.; Grady Pittard, Winter=
ville, with Tryon Huggins; T. W.
McCreery, Savannah and B. Bren=-
ner, Atlanta, with J. Phil Camp
bell, jr.; Don Henden with Steve
Knight; Walter Warren with
Weaver Bridges; C. E. McManus,
Florham Park, N. J., with Willard
Mills; and W. A. Morris, Atlanta,
with John Thurmond.
Ralph Queman of Oak Ridge,
Tenn., a roamin’ Rotarian, was
presented with pottery. Matt Stel
ly of Athens was Mr. Queman’s
guest for the luncheon meeting.
With 152 acres of land, Zarber
is now miling nine cows. They av
erage four gallons or better of
milk a day, with one giving near
ly five and half gallons over a
five month’s period this year.
Railroad Schedules
SEABOARD AIRLINE RY.
Arrival and Departure of Trains
Athens, Georgia
Leave for Elberton, Hamlet and
New York and East—
-11:22 a. m—Air Conditioned.
8:45 p. m.—Air Conditioned,
Leave for Elberton, Hamlet and
East—
-12:15 a. m.—(Local).
Leave for Atlanta, South and
West—
-5:50 a. m.—Air Conditioned,
4:25 a. m.~—(Local).
4:57 p. m.—Air Conditioned,
CENTRAL OF GEORGIA
RAILROAD
Arrives Athens (Daily) 12:35 p.m.
Leaves Athens (Daily) 4:15 p.m.
SOUTHERN RAILWAY SYSTEM
From Lula and Commerce
Arrive 9:00 a. m.
East and West
Leave Athens 9:00 a. m,
GEORGIA RAILROAD
Week Day Only
Train No. 50 Departs 7:00 p. m.
Train No, 51 Arrives 9:00 a. m.
Mixed Trains.
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tablet form. In both you get a spe
cial combination of not just one, but
several of the world’s most popular
Eain-nlicvin; ingredients. In ‘com.
ination these quick-dissolving, fast
acting ingredients are remarkably es
fective—far more effective than
either would be alone.
FOR THE BEST IN
AUTOMOTIVE SERVICE
! ALWAYS COME TO
pesoto SILVYEY'S PLymoutn
Your Vote and Influence
: Will Be Appreciated |
§ CLYDE M. BASHAM j
General Election June 5, 1950, n
Candidate For City Attormey
City of Athens
through the State Farm Bank Plan.
1. Buy the car of your choice.
2. Buy from the dealer of your choice.
3. Finance it through your local bank,
4, Insure it through State Farm.
Let me give you the rates on financing and insurance BE
FORE you buy: Many people have saved amounts equal to the
interest for two years through this plan.
¥ STATE FARM MUTUAL AUTOMOBILE #§
» INSURANCE COMPANY v
2251% N, Lumpkin Phone 1276
City Taxes for the year 1950 are now due and
if paid in full between May Ist and June Ist a
discount of 2% will be allowed.
! Or, the First Installment (1-3) must be paid
!:etween May Ist and June Ist to avoid the pen
alties.
Please pay early and avoid the rush.
A. G. SMITH, Treasurer.
Read The Banner-Herald Want Ads.
UENSD A& 4
VA v
0 H o
e g
Try “BC” Headache Tablets the mexy
time you want to ease a simple heag,
ache, neuralgic pains or minor nus.
cular aches. Tablet or powder, you
get the same famous "BC” form ;..
the same fast relief. You ger o prep
aration you can use with complere
confidence. Buy "BC” Tablers of
Powders today and use as directed,
Two tablets equal one powder, |0
& 25¢ sizes. Sold everywhere,