The Daily Banner, Greencastle, Putnam County, 12 June 1934 — Page 3

vhkhath convention h«-m f 10111 et‘*> 1<imlc . initlustnal

litical chaos.

“forp'ttpo mo* 1 ” wa * not moreindividual but comprised an hclminff P er CPnt °f a H classes additions of our citizenship. before in the history of the jean people, not even in the rerurtion period following the

MU OF •iHKHIFF'S S4I.R OK

hk%i. i:static

'Ony of

th»* Clerk

unty, lerein

Inf

^,,,1 tw» nunurec nd ^iglity-five „n»n‘Sl on salt!

expose i i;i bidder

let

virtue of a certIfleil to me direeted from

putnnm (Circuit Court of Cut

i .unty. Indinnii, in Cnum* No. wi.rein tbe Federnl Lund Hank ^msville is Pluintlff, and James ili .i,i.>-treel et al, lire defendants,

i, M to make the Hum of five hundred and twelve d o I -

cents ($r».2l2.Nr,) decree and costs,

iose at public sale to the

Saturday. July 7.

wmii tlie hours of lu.00 A. M.

jjiMi i* M "f said day, at the door

Court House In (Jreencast h-,

ji, county. Indiana, the rents and

^ tor ;i l••rm not to exceed

from the followlnt

I estate in Putnam Cou

Ian a, to-wit:

.,[ tin- west half of the Routhnrtei ot section 31, township iii, r.ifca- 3 west, heninninn at a m links west of the southeast , jid half quarter; • hence nort h I with Ibe east line of said half to tin- north line thereof; w• st with said north line is and M) links; thence south I with the east line of said In

even

iik deacrihunty, Slate

THE DAILY BANNER. GREENCASTLE. INK ANA. TLiESDAY. JUNE 12. 1934.

line i Ui lim

iialf

UI ,

to the rdale

. -I with said south '•nner of th e Clo

n. thenee north «» chains and . Hit in e east S ehaina and tiieiee south G chains nmd 33 ,i iii*. south line of said half i then'e east to the place of nif, . uiilalnlng acres. Kxc'pt nhttve descriheij land how- . folh.wina: Part of section lu iship I", north, range 3

iiws, to 02 feet

llic

ii Re

(1 as follows, to-wil: Bet 1

l north

id i

West,

Bet; iaof tho

mr ot said section 81; along the west line of th»n 772 feet; thence east 70s.4 lu e south 772 feet to the ■ of the town of Cloverdttle; n -st along said line J72 feet

point

rest corf north si

line

of Clo

ong said line J72 feet to

line of Lafayette St., In the f Cloverdale; thence north al fast line of said street 1G0 tiien'-i* west 220 feet; thon e •a* fK.t to the north line of the : Cloverdale; thence west, along

to the place of be-

lont.iining 13.40 acres, inot'j tart of the southwest frncniarter section of section 31, ip I- north, range 3 west, be- “ at th* northwest corner there- . cist with the north line 13 rid f.l 1-2 links; thence south 11' and 1-2 links; then(‘e west ' and !!♦ links; thence south 2 ml 42 links to the north line t<»wn of cioverdnle; thence west and 12 links to the west line d fractional quarter section; north a! ■"*? som west line St. i iinl '.'4 links to th.. •.^ginning, k a 4n 1-2 acres, more or legs. |M.it "f the east half of the i liter of seetion 36. town-

bei

quar

p north, rar }0 links soul

then

north a Ion

the

' to the northeast

dilion;

lim

hua

l>.

is the

J c and ftl 2-3

KIHt jiiks

tiiinrtep P'Ptlce si

Rnh

mi t

i the south

fiunrter

fractional 1-2 links; south Hu 4 chains

f r 's. more or [hart of the

i ' 'ownship is north,'

"'id described

r ^nUaim, Lit ml I, ion to the C pthuted | n fh

rang,.

L imlinr

'"-wit :

and Com

t "•metery;

]n line of salt! ' I Jm ‘* R Inches

iked with n

ized and discouraged. It was a Herculean task which confronted the Democratic administration on March 4, 19.13. Not only was it necessary to formulate speedy and effective relief measures, hut ultimate success rested more deeply upon the restoration of confidence in the people themselves to combat successfully the inroads of the panic and the depression. Franklin D. Roosevelt, from the moment he assumed office, began to assert every quality necessary for a great leader of a great people. 11 proved himself fearless, aggressive resourceful, and above all el c, possessed of a wholesome optimism which he communicated to the people and dissipated their doubts and fears by a renewed and redoubled courage. One of the greatest accomplishments in our history has been the restoration of the morale of the American people in such short time under the leadership of President Roosevelt, Responsibilities comparable to those which confronted the chief executive faced the 73n| emigre s. lithe plans and purposes of the administration were to function, if America and American institution- were to he salvaged from complete collapse, the congress must act speedily and ympnthetically in providing the necessary means and money for th • most far reading relief program ever undertaken by this nr any other govern-

ment.

I have no sympathy with those who have hern continually carping about what they call the “sub ■ rviency” of this 73rd congress. My observations, and they have been close and intimate, justify the statement that congress has not been subservient hut it has been unusually patriotic. There have been exceptions, of course, but the overwhelming majority of members on both the Democratic and Republican sides of the two chambers spurned the traditional pettifogging and partisan tactics of the past and got down to the serious business of bringing instant and imperative relief to the American people. In large measure, the 73rd cone res - assumed responsibilities and is deserving of praise and plaudits equal to those so universally and justly accorded to the executive department of the govern-

ment.

The first problem which confronted the administration was the re establishment of our banking institutions. Aa indicative of the fact that he proposed to meet his responsibilities courageously, on the very first day of the new administration the president declared a hank holiday for every hank in America—perhaps the most momentous decision ever called for in our later history. One week later the president spoke to the pelpie of the nation over the radio in one of the most reassuring addresses in his career in which he very simply hut convincingly utlined his program. He said “It was the government’s job to straighten out the had hanking situation and d > it as quickly as possible and the job i- being performed.” The banks of the country are today in an easy position and are able, without strain, to support an amount of ere lit even in excess of that of 1929. Pending the re-establishment of more normal credit and in aid of the same, numerous governmental agencies have advanced huge sums from the public futvls to private institu-

tions.

Since the end of February 1933, the Reconstruction Finance Corporation financed loans and sulweriptions to the net amount of approximately $1,600 000,000 to hanks and trust companies, mortgage loan companies, federal land banks, railroads, home loan banks, the Commodity Credit Corporation, the land bank commissioner, the federal farm mortgage

corporation and others.

In addition to -uch advancemnts through the R. F. C., the federal government has directly and indirectly made available equally substantial funds through such agencies as the public works ndminbtrtUion, the federal deposit insurance corporation and the federal land bank. The machinery is now being set up whereby direct loans may lx- made to industry. This has been one of the crying needs of the hour and will, in my opinion,

thence project tog speed up our industrial recovery to a 18M nd«llt ‘ ‘ '

»Ke 4 west; betfinih of th<* northeast

h' •"f; (hence west 3 chains Imk . thence south 25 chains ■ i"l' . theme east 1 chain and s Mi. ii. e south parallel with line <>f said half quarter soc--liiiins and 70 links to the pin** "f Hie town of Cloverdale; * H 2 rlKiins and fil links to i I hip of Said’half Quarter ser-

along

, luiius and 16 links to the •t beginning, containing 13 1 "M* "i- hss. Excepting from ii"<l pa reel of land the folt" wit Hart of section 36, I'l north, range 4 west deR follows: Beginning at a '•••! north of tin* southeast [oi .'■ ui section 36; thence west i" the southeast corner of

and Martin < loverdnle;

ast

Addition

1 o.ventaie; thence n« * ' ' line of said addition

t he

ort h

thenee east 166

orii ; r.

ler of

feet

of seetion 36; then

1 lid east line 772 feet

ice

1 mi easr line n 2 • "I lo ginning, containing 2.H2

"re or less.

,,:M 1 "f th** southwest fr.io-

"•r Of section 31, township 1 iiij.',. ;{ west, described as

J" wH: Commencing at a ,ll t ' i* 3 chains and 6 links

b"mt which is 9 chains

'•west corner of said

i pas frac

past rier

I 'ii h r. the said point of begin- * Mi' .inter line at its north i 1 ' . it,, street, and from the 1 "i beginning running east no, th line of said tow

wn of

no now exists,

- »ks to the pros-

1 " f • orner of the town of

t hence south with the line of said town 3 chains to the south line of said

" 'I'i .rter seetion; thence east """b.nst corner of aald frac- : r «er: thenee north with the

onal quarter to thereof; then

ICO

1 'i.r; thence noi °f said Traction.'i

t . i corner thereof; th

frn. Ill** north line of said fra**-

4 chains and |r. 1-2 • south parallel to the east

id frftcth

Hue of

quarter 34 thence west

frao-

ence said

id 31 links

chains and 32 links to loginning, containing

less.

>uthenst

quart »*r

auge

follows, to-

ll w

oor-

tinnlng at the soutl

quarter seetion

west with t

'•irter seetion 96 links

wit

rest

md run

the south Hu.

quarter section 96 links. "'Hi parallel with the west half quarter section to . ' 11 r 4 \c thereof; thence west j f " 1 northwest corner of quarter; thence south with in. '' 1 '' Ha id half quarter to h> , ro| ?talning 3.74 acres. ,l K In all 135 acres, more or >' •li* following dpxrrihod trnrt . HHiated In rutnam ro**"*^

sin

e Ce half

*, iMwoship

3 west, in Putnam 1 described as fol-

Coiint;

imposing Hi

the Cloverdale Ce

1 »'< Hon In, 8, {'own«hl

mo-

of 13

■mo.r' oTThTl 1 ^ ,,, " ,e

cross

side

e° f

2 "foot

"^illtlon, oxlont 1h;in any other feilernl top nod | activity and with very little, if any,

to 7Tie we*7"!n.: I ultimate loss to the government.

As of personal interest t<> Uie citi-

,r"«r “f alley; thence enst ; Z ents »>f Indiana, let me point out ,."“1 xTnchce^o an*lron 0 pln , on i that since the hanking moratorium

I "iion, reel lo an l , „ " 0 I th of aldeWnlk

' .'nxe ..f n n

!nx :

" ''l!: wcIJ*nne d o f l0 ^| ( i"lM;!^e United States government, !»'"'nc'cL." 1 '’. ,M ‘x |nnln >f. through the R. F. C., has loaned to

"outhweat quarter 0,1 1,1 The south side of an id

i','" t:™;’,.

t he and

lo the C'lov

snd said

Ik de

•w..-, ..^retofore dale Cemetery uth line being

..f | ha

In,. f,r y « .i ^orth c h * a **l section 31 Ulcu •‘ nd Profits win n

Ini, rest' ,0 ""Id ■ ii... "!. " nd . eoata. I will, at

no plnee, expose to pubJ.'l"*’.*.• title of snid rent

ot acl|

an id

In., i ■h rn

'' Ip nt sun

'"'•'■•'si nnd

r ''»w«ir. e . o . , 4 it* may b "

>8ts * Ha Id sale to

83 banks in receive mb ip in Indiana and six banks Iteing liquidated by conservators a total sum of $13,2-17, !>89.77. Of this amount to the 83 banks in receivership, the greater majority of which are state banks, there was allocated $8,939,149.83, and the six banks liquidated by conservators were granted $4,308,439.92. All of this, mote than $13,000,0(81 is being distributed through these banks

be mnde | depositors and through them directly into the channels of trade

fir nncrut-^ Whatever from vnt-

5A* v .?j.nd imlurlry.

’O"... Attorneys for Plnln-

8-3t

The second off»nsive on #ur economic front was waged in Itehalf of the farmers of America. The agti-

ultural situation of the nation pre•ented a peculiar paradox. Through the industry and ability of our fanners. We were growing bumper crops, \et because o the economic condition of the world and nation, the fanner was obtaining less for his crops than their production cost him. Obviously, such a situation was bankrupting the farmers of the nation. While I am speaking here the department of agriculture is preparing payments to the farmers of Indiana m their corn-hog reduction contracts in the total sum of $9,0011,000. The -'•I 069 Indiana farmers who subscribed to the government’s wheat control program have received to date the mm of $1,340,538. Within a few '.M“ k checks will go forth for an adlitional $520,000, which will make for i total of $2,000,000 in wheat adjustment payments for Indiana. Eighty thousand farmers of TmRma signed the corn-hog contract, wliich represents better than seventy nor cent of the producers of the 3ate. A total of $20,500,000 will lie paid t i Indiana farmers who signed the.-o contra "ts, the amount of corn layirents totaling $8,000,000 and the .mount „f hog payments $12,500,000. Indiana farmers have been aided materially through loans on wareumse corn made by the Commodity r* d:t f orpnrati-in. at the gross rate >f forty-five cents )>er bushel. The estimated corn loans to Is- made in Indiana are being placed by the department at $1,000 000. Frtm statistics furnished by the tgrit tdtnral adjustment administration, Indiana agriculture will benefit rom this department alone during the present year, to the extent of $27,500,000. May I call your attention to the nccomplishmonts of the government in he way of refinancing farm indebtedness. From June 1,1933, until May 1 of this year, the farm credit administration loaned a total of more than $30,500,000 to farmers in Indiana. Of tins, approximately $29,500,000 con--isteil of long term mortgage loans, 'he largest part of which was used by the imrrowers to refinance their indebtedness. With the assistance of the faime credit administration, ten production credit associations, having aggregate authorized capital of $l,220.i»00, were organized during the past year by Indiana farmers. These •is: (M-intions now are providing production loans by means of discount and leans obtained from the Federal intermediate Credit Bank of Louis-

ville.

'I he next problem which confronted the administration, was the lightening of the load of mortgage indebtedness upon the small home owner. Since 1930, mortgages on more and more homes were Ireing foreclosed liy hanks and loan companies. Frozen is resulting from this type of collateral were causing banks to lo c their doors and building and loan associations to restrict credit. During less than one year of operate n of the Home Owners Loan Corporation, $728,651,191 in bonds md cash have been advanced on 246,155 homes loeatud in every section of the country. Loans are Iteing concluded at the rate of $8,000,000 a day. Upon the average, aproximately 14,000 loans are being completed ei* h week calling for the sum of $50,000 000. One of the greatest offensive drives of the government toward reemployment was directed through the vehicle of the public works administration. Because of the $1.50 Indiana tax law, it was difficult to obtain as large amount of allotments as was desire I. However, may I call your attention to the fact that the allotments for federal projects exclusively, in the state of Indiana, from the inception of the public works administration until March 15 of this year, totaled $13,125,000. This included $10,037,483, which was Indiana’s share of the $400,000,000 allotted by congress for highway construction. Of the $200,(8)0,000 allotted for work creating loans to railroad companies, the best estimates obtainable indicate that $11,518,000 of this fund benefits the state of Indiana direetiy. Sixty-seven Indiana projects, which ranged all the way from the construction of electric light plants to sanitary sewage disposal plants, were granted a total of $18,425,000 in al1 dments by the public works administration. Thus Indiana has received from the public works administration allotments, a total of more than $43,000,000, with requests totaling many millions more no file for review at the present time by the P. W. A. and all indications are that a large number of these will be approved. At the present time there is occurring in Indiana, at Decatur, a most interesting economic experiment. The division of subsistence homesteads has aproved the undertaking of one of its projects in the state, to be located at Decatur. The fundamental purposes of the subsistence homestead program is to demonstrate a means of securing the redistribution of the over-balance of population in industrial centers and the decentralization of industry. At

the edge of Decatur city limits forty- n mneed to the press by the president eight small homesteads, of approxi- on Wednesday, Nov. 8, 1933. The folmateiy one acre each, are being lo- lowing day the federal emergency adeated and made, available to workers ministration of public works by acof industries of that city. Decatur tion of the special hoard released is an example of a decentralized in- $400,006,000 for the financing of the dustrial town to which the subsistence plan, nnd the president issued the

homestead is most easily adapted. Of these subsistence homesteads, the workers, many of whom will work searonly or part time, will raise a considerable amount of fed supplies for their own use. An allocation of .$125,000 has been made for the development of the Decatur project. •Similar projects for Indiana are under consideration, hut as yet no definite decisi n has been readied as to what additional work may be undertaken in this state. Families selected will tie aide to purchase these homesteads for between $2,000 and $3,000 by making monthly payments over a period of

twenty years.

The Republican opposition, in the “winter of their di content” immediately began making fun of the plan which called for tie' employment oi' at least a half million young Americans in reforestation work. The opposition could not realize that by providing clean, wholesome surroundings and work for these young men, th? growing American generation w .s being saved from becoming drifters, poolroom hangers-on, i Her and perhaps criminal Criticism died out however w’on it was found that the young men welcoming home from the civilian conservation camps stalwart, ruddycheeked, well fed, healthy and with an eager desire to v rk. Not only did the C. C. C. cam' provide an economic remedy but they also had a psychological effect; upon the nation through enabling the younger generation to obtain gainful employment. The civil works program was an-

cxecutive orders which created the civil works administration. The whole program was decentralized in all resports so that a maximum speed of peration has been possible in getting men to work. You are familiar with the type if work that was being done all over th- country, because Indiana presented an excellent cross-section of this work. Let me call your attention to nine statistics relating to the civil w rks program in Indiana. Advances to date for this program in Indiana, total $23,381,000 and the peak employment was placed at 105,275 individuals. If you will permit me to recapitulate, loans totaling $28,979,172.77 \vi re granted to Indiana hanks and irdu try through the reconstruction fi 'an;e corporation. Agriculture, through the agriculture adjustment administration, is being aided to the extent of $22,500,000. The farm credit administration, which was established to refinance farm mortgages and to provide other ( red it feeilities to farmers at lower interest rates and on better terms, !< led t i Indiana farmers the sum of 10,500,0(10. The home owners loan corporation, w ich was set up to help refinance a id extend urban credit, lias aided Indiana home owners in the sum of 11.153,132. The public works administration. • h i h was organized to expand purchasing power by undertaking activiti which called for great outlays for

materials and wages, af lotted to Indiana $43,063,000. The subsistence hoi stead project at Decatur was allot t< d a loan of $125,000. The civilian conserve j ion corps has brought into the ohaninels of trade $4,300,606 and the C. $V. A. has af-fo-ded relief to the v friemployed of the state, through fund V' totaling approximately $232181,000 .and thus hns provided direct relief to the merchants to whom the une. »iployed were greatHy indebted. The national recovery »rt has functioned to raise payrolls { through the elimination of sweat-sh< wage condiiiens. has balanced ii»crcased efficiency with shorter houifs so as to decrease unemployment^ coordinated hu iness activity and cri *ated a stable flow of purchasing pov./er. Credit .for the restorl ation of public confidence and the spf rit and will to will must also lie give n to the N. R. A. Them is little (doubt that the shock tpiops of our fight for economic recovery was t.h e N. R. A. It, was n at jural that in such a hastily const nn Aid and intensive progran, failures and mistakes will iil-vitaJily 1 occur. Such mistakes \ are and will ) continue to lie rectified' as rapidl,'.' as possible. The banking system.' has heeJi robabilit'ited and lias 'ton the i confidence of the depositors throujj-h the fedor»il deposit insurance. Tte operation of this insuriirre fumt which is being ndmini-terect liy the federal deposit insurance corporation guav. antees deposit of participating hanUs as high as $2,500. It is legislation for the “little foll^^•.v’ , whose life savings are involved* At the beg : nnrng of May of this year, 13,983 .national i and Ktate hanks held membership in the insurance fr nd. In these institu- , tions there are, approximately 56,000,- : 000 of insur.ijiee accounts. Insured I

deposits aggregate nearly $16,000,OOOjtflO and the total deposits of the participating hanks aggregate more than $^t,ooo,ooo,oo0. I hope that I have not fallen into the common error of exaggerating the accomplishments of this administration simply because it happens to tie of my political faith. Since the inception of political parties in this country, unfortunately the party in power has been prone to over-state its aeromplishments and arrogate to itself all credit for the combined and patriotic efforts of the people. Upon the other hand, the opposing party seems to have felt that it was its hnunden duty to minimize the accomplishments of the party in power. I do not claim that the instant administration has been perfect. I am not asserting that it has not mnde mistakes. Some of the efforts toward recovery have not functioned to t' ir> extent expected of them. Others ■ t) . 0 openly recognized as experimr n {,,| nnd in the event they prove in tive they will lie abandoned for other and different lines of attack _ This open-minded attitude of th , a ,i m j n _ istration is one of its most appealing features. It stands out in hold relief against the inertia and Inactivity of the previous adminis' irat ( on which adhered to the policy that conditions would ultimately ec.rj.ppt themselves and refused to afloat any decisive or Effective relief pr ogram. In closing, mtvy we nil join in praise and appreciation of the good citizenship of (Indiana—irrespective of party afficiU.tions—for its continued ami patrietie support, of the government dtitfng these trying times. With such (Vmtinued cooperation upon the part of the people, this depression can and w.ll lie whipped and the prosperity and happiness of the American people permanently restored.

Furniture Values s 30 % Three Complete Rooms See These Ensembles 11 Major Pieces

Every piece and detriil to make your living room completely comfortable and beautiful. - -

English Tapestry Davenport and Chair or Mohair Davenport ami Chair $7«.;iU Walnut finished End Table r2..VI Distinctive Occasional Chair $<t..'iO Large, unusual Occasional Table $6.95 Tabic I^imp—pottery base if’J.JO Walnut finished Magazine rack .. $1.75 Console Mirror, attractive frame $32)0 2 Lace Panels $2.5** Bl’lendid 9x12 Axminster Hug $’23.50 Total $128.20

Only

Complete

ONLY $10 DOWN

Everything For Your Bed Room Nothing has been left out in the bedroom to make it complete and lovely. Charming Vanity Dresser, roomy Chest of Drawers, Distinctive Bed, walnut, maple l/TllV or cherry suite $79.50 J Chintz covered Boudoir Chair $6.9.» Upholstered Bench $(l.aO Tl '• heavy H'.K Tw" beautiful Boudoir l.amps —- $3"00 ^ One Bed Lamp — •l..)0 A Distinctive Bed Spread $3..>0 BV Wm Cnmforlnble Coll Bed Spring $tl.#.i •Excellent Inner Spring Mattress $16.50 Total $129..°.0 Compute

15 Months to Pay

A Complete Dining Room And a beautiful one that bespeaka hospitality and charm in every piece.

Walnut extension table with disappearing, self-folding leaf; & combination walnut side chairs; 1 combination walnut host chair, all with attractive upholstered seats; large, distinctively designed buffet—one of our best suites—complete at $89.60 Heavy 9x12 velvet Rug $27.60 2 Beautiful lace panels. $32)0 Dstinctlve buffet mirror $9.50 Total $129.50

Only

Complete

Especially Appealing values are shown in newly arrived lounge and occasional chairs. This is the time to fill furniture needs.

Your choice of many suites—any changes In these groups you desire—See them now— Horace Link & Company

The Store of Furniture