The Teague Chronicle (Teague, Tex.), Vol. 47, No. 41, Ed. 1 Thursday, April 22, 1954 Page: 2 of 8
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The Chronicle, Teague, Texan, Thursday, April 22, 1954—2
THE TEAGUE CHRONICLE
Telephone 22
Published by the News Publishing Co., Inc. Biake Smith, Jr.,
President, and Ernie Deane, General Manager.
John Richardson ............................................. Editor and Adv. Mgr.
Mrs. Ed Manahan?................ Society Editor and ,Want-ad Manager
Jim Stringer „..................... Superintendent Mechanical Department
Lee Fairly .....................................-...................................... Typesetter
In
Congress
I the projects are adjusted to
[ meet the $1,000,000 loan. The
j result is that a tenant may pay
i 20 or 25 percent more rent than
j the actual cost of the project
justifies. Furthermpre, if the ren-
I tal project turns out to he a
I t)a/l investment, the govern-
- Entered at the post office at Teague, Texas, for transmission
through tire mails at second-class rate postage, under the Act of
Congress of March 3, 1879. . —
BY OUN E. TEAGUE
Congressman 6th Dist. of Texas | ment is liable to the insurance
company for 90 percent of the
amount of the loan.
In Teague trade territory, one year ...........
Outside Teague trade territory, in Texas
Outside Texas, one year .—.............——-
____ $2.00
$2.50
$3.00
Any error or erroneous reflection which may appear in The
Chronicle wUl be oorr-cted in the next edition after being brought
to the attention ol the management.
TEAGUE VOLUNTEER
11 children.
I have some information on
d liornc fires which is only a part
UIVA lot fire's yearly box score . . •
JL IIC j Smoking and matches have
cause 95.000 fires yearly with a
j loss of $55,500,000. Other causes
I such as mis use of electricity,
defective heating equipment,
I careless handling and use of
I flammable liquids. children
The National Fire Protection playing with matches, these are
Department
Hev. Wm. A. Casjjeduy, Chaplain
of America has
frightful pharrdiilet which has
come to my study, “When Fire
published a I just a few which cause losses
'running into millions of dollars
annually.
As we think about fires in
strikes.” The. pamphlet pictures (j,e h</mes today in this column
i mother with a baby in her | let me ask you this question . .
•arms escaping from her burn
.ing home . . this is only a
picture but in thousands of
cases tiiis picture becomes a
stark reality. The ..picture is
frightful to me because I have
seen so many cases just like
this pamphlet pictures, and
many such eases where the
mother with her hairy in her
arms did not succeed, in her
escape from her burning home,
only to perish in the flames.
5500 Americans lose lives an-
nually in home fires, with 41
percent of the- victims are
See Our
Refrigerators
Home Freezers
Washers - Dryers
Range* - Sinks
Kitchen Cabinets
T Y’s
—A Complete Line—
AI.E X ANDKR-COLE Y
Implement Co.
Phone 2901
Fairfield
"How many fire hazards can
you identify ifT your home . . .
hazards that possibly in the
twinkling of an eye could‘burn
your home to the ground. The
worst fire hazard that can be
found in any home is smoking
in bei . . . this has caused
more fires than any other one
thing. For one to smoke in bed
and fall asleep with a lighted
cigarette or pipe simly means
lire and possibly death.
Nine out of ten home fires
could be prevented from start-
ing if only a few safety meas-
ures could be practiced. Rub-
bish, combustibles, gasoline,
overloaded electric circuits, im-
proper wiring, these, and many
r.thers should have your ever
attention, that is, if you wish
to save your home from the
great killer and destroyer . . .
FIRE.
WASHINGTON, D.C.. April 22.
—An investigation of - FHA
housing scandals, long over-
due, -Is occupying attention
here in Washington. The Com-
missioner of FHA has been
summarily fired by the Presi-
dent and Housing Administra-
tor Albert Cole has announced
that the invetsigations will pro-
bably result in' 12 or 14 other
top officials in FHA being fired.
The President has authorized
investigators to impound FHA’s
files. "The investigation is a
three-pronged affair. Housing
Administrator Cole has set up
his own investigative group to
work within the agency , and
two Senate committees have
also started hearings. Both
political parties are attempting
to saddle responsibility on the
other, when, as a matter of
fact, they are both responsible.
Nearly 500,000 families are
living in apartment projects
built with insured loans. Many
of these families are paying 15
to 20 percent higher rent than
they should be paying because
of the practices condoned by
FHA, The windfall through
"mortgaging out” came to the
builder in this way. A typical
builder might have obtained an
FHA appraisal of $1,000,000 for
a planned project. Based on the
FHA commitment, a bank or
insurance company' would loan
money for the project, with
FHA insuring the loan. The
builder then proceeded to, build'
the project for $750,000 and have
$250,000 of the loan as a profit
when the project is complete
This would be in addition to
the normal profit to which he
A curious side-light to the
question of responsibility de-
veloped do ring debate^on the
housing bill last week. The
housirig bill was prepared by
the Housing and Home Finance
Agency and presented as con-
taining 99 percent of the Presi-
dent's housing programs. The
Republican majority of the
Banking and Currency Commit-
tee of the House refused to in-
clude a provision which would
regulate ‘‘mortgaging out” on
multi-unit rental properties
and the Democratic members
of the committee filed a minor-
ity report objecting to the omis-
sion. Two attempts were made
on the Floor of the House to
include an amendment which
would have guarded against
‘‘mortga,ging out." The amend-
ments failed both times on
close party line vote, with the
bulk of the Republicans voting
against the amendment and
most Democrats voting for the
amendment, Less than a week
later, the administration an-
nounced that windfalls to
builders and promoters as a
result of mortgaging out on
apartments built under Sec-
tion 608 of .. the Housing Act
may total half a billion dollars.
The other aspect of the FHA
scandal has to do with renova-
tion and improvement loans in-
sured by FHA. These loans are
obtained by a home owner
from an approved bank or
lending institution for the pur-
pose of making additions or
improvements to an existing
house. It is reported that one
individual obtained 18 such
come from the same bank. Ob-
viously, nothing less than out-
right crime is involved in such
an arrangement. To say the
least, both FHA and the bank
that made the 6 loans are dere-
lict.
Another type of FHA failure
has been poor FHA inspections
on houses sold to„ individuals
under an FHA insutpd loan.
FHA has developed minimum
construction standards and
makes three inspections of
facli house to determine that
the builder is complying with
the* minimum construction
standards. As chairman of the
select committee which inves-
tigated the veterans’ loan pro-
gram, I had an opportunity to
examine many projects which
were FHA inspected. The in-
spections were unbelievably
poor and resulted in many
borne owners securing homes
of substandard construction.
The VA attempts to utilize FHA
inspections in those projects
where both the FHA and VA
are guaranteeing and insuring
loans. FHA’s performance has
been so bad in certain parts of
California, Nevada, and Colo-
rdo that VA was forced to re-
fuse to accept any more FHA
inspections.
FHA has consistently ex-
hibited the attitude that it has
no concern for the individual
home owner and seems prima-
rily interested in catering to
builders and lending institu-
tions.
The Federal Government is
obligated for housing insurance
and guarantees in excess of
$33 bililon. There is little
question that mal-administra-
tion by FHA has materially in-
creased the government's risk
on this commitment.
Mr. and Mrs. Rhea Clark and
daughter, Miss Judy, were Eas-
ter holiday guests of his mother,
Mrs. T. Clark Sr. Miss Judy
spent Satunoay in Mexia, with
was entitled. Obviously, rents in loans and tharo of these loans Miss Ann Mason. .
; SPECIAL PAINT
FOR FLOORS
wood, concrete, canvas
FENCES, TOOLS.
Robert
Id Family
bits Here
and Mrs. E
Pjeri. David i
fori Worth,
j last week wl
[and Mrs. M.
[Bloxcm and
Inroute to Lir
■ i he will be
OUTDOOR
FURNITURE'
Devoe Floor and Deck
Enamel is one of the freest
brushing enamels made. Every one
of the 10 colors hides solidly... is "tough
as nails." Resists abrasion, cracking
and flaking. Dries overnight. High
gloss. An all-purpose paint for
1001 jobs. Get a can today.
SEELY'S \
,WEY AT SAB
[force BASI
I and Mrs.
ghter, Miss
ghter-in-law,
jj visited Ba
Island Air F<
Antonio, ove
|rs. C. C. Yohe
[her, B. J. M>
Itives in Braidj
Try Us FIRST
On All Your Paint
Needs!
“You can’t afford to GAMBLE with a
CHEAP ROOF!” Use INVINCIBLE. Made
by Lloyd A. Fry Roofing Co. One of the
Largest in the U.S.A.
Our
I Refrigerator
Home Free®
WashersI
Ranges • Si
Kitchen Cal
It v’s
—A Comple
Ialexandi
Impleme
me.2901
‘SEE US FOR A FREE ESTIMATE”
' 4 vjfl
South Texas Lumber Co.
It takes I
Growing
duction p
“Quality Considered,We Are Never Undersold.”
Phone 9 WALTER BONNER, Mgr. Teagd
s*. _ -
Mr. and Mrs. F. E. Smith and
Mrs. Ajpha Gilbert, of Dallas,
were guests of Mrs. W. D. Black,
Miss Sadie Jo and Mrs. Sadie
Young, Saturday.
-
Condensed Statement of the Condition of
First National Bank
This is the 1954 Chevrolet Bel Air 2-Door
Sedan. With 3 series, Chevrolet offers a model
to meet every individual and family need.
OF TEAGUE, TEXAS
At the Close of Business April 15, 1954
RESOURCES
Loans and Discounts ..............................
Banking House .......... ......... ...............
Furniture and Fixtures ...................
Other Real Estate..... ................
U. S Government Securities .................
Other Bonis and Securities ..............
Cash in Vault and with Banks ...........
Other Assets ..........................................
$ 724,801.90
19,000.00
11,575.00
4.00
1,350.281.00
347,140.59
837,489.51
1,257.44
These facts about the New Chevrolet
can help you make an important decision
'IS
Don’t you agree that buying a new car calls for careful
consideration? Regardless of make, it involves a sub-
stantial amount of money and a lot of future satisfac-
tion. This information can give you a better idea of com-
parative value and help you decide which make to buy.
To Lai Resources
$3,291,555.44
LIABILITIES
Capital Stock ......
.Surplus .................
Undivided Profits
Other Liabilities
DEPOSITS
; 5o.ooo.oo
175,000.00
48,459.80
4,754.39^
3,013.341.19’
A good customer of ours was telling
us the other day how he sizes up a
#iew car. Because he’s bought a num-
ber of them over the years, we were
interested in what he had to say. We
think you will be, too.
Actually, what he does is to ask
about seven basic questions. The
answers give a pretty complete pic-
ture of the car and its comparative
value. Here’s what he wants to know.
How well do I like its looks?
Total Liabilities .............................. $3,291,555.44
J. E. WOODS
President
OFFICERS
CLYDELL McSPADDEN
Vice-President
HERBERT NEYLAND
Executive Vice President
J. C. McSPADDEN
Cashier
C. A. DUNN
Vice President
MRS. JEWELL M. DOSS
Assistant Cashier
DIRECTORS
J. E. WOODS W. E. RILEY
HERBERT NEYLAND ’ E. R. SIMMONS
MRS. KATE P. SIMMONS
That’s one question, of course, that
only you can answer. You’re the one
who buys the car and you, above
anybody else, should be proud of its
appearance.
All we can tell you is that we hear a
lot of nice things about Chevrolet’s
new styling. People seem to like the
new front-end and rear-end designs,
and the way the bumpers curve even
farther around the fenders. They like
the new styling touches all around the
car and the wide choice of bright new
colors and two-tone combinations. A
good many tell us that Chevrolet has
a decided edge over the other cars in
its field for smooth and graceful lines.
interior as well as the strength and
safety of the body construction.
That’s why we think it worth your
consideration that Chevrolet has the
only Body by Fisher in the low-price
field.
You can see the difference outside
and inside. We’d especially like you
to look over the new interiors. Just sit
in the car, if you will. Feel the
quality of the fabrics and notice the
more generous use of vinyl trim.
In all these ways, you’ll find evi-
dence of superior quality and work-
manship. And after all, isn’t that
what you woujd expect in Body by
Fisher? As you know, Fisher is the
largest and most famous manufac-
turer of automobile bodies in the
world. Doesn’t it stand to reason that
Fisher can build extra quality into
the Chevrolet body? It’s there and
you can see it.
transmission and optional on all
models at extra cost. In gearshift
models, you get the more powerful
“Blue-Flame 115” engine.
But, actually, the increase in
horsepower is only a sort of by- r
product of design changes made for
other reasons. Chevrolet engineers
were after greater engine efficiency,
not just greater power. So, you get
improved acceleration, with greater
and safer passing ability. You get
quieter, smoother operation. You
climb the steep hills with new ease.
Now you can have Chevrolet’s zippy
and thrifty Powerglide automatic
transmission on any model. You can
have Power Steering on all models
and at a new, lower price. You can
have Automatic Window and Seat
Controls on any Bel Air or “Two-
Ten” model, and you can have
Power Brakes on any model equipped
with Powerglide. All are, of course,
optional features at extra cost.
■ ■ I
ANYT
Who makes the body?
This question takes in much more
territory than the appearance of the
car. It involves the quality of the
What’s under the hood?
You hear a great deal of talk these
days about engine power. The truth
is that the number of horsepower
isn’t nearly as important as what the
horsepower does for you.
In this year’s Chevrolet, you get
increased power in two finer engines.
There’s the “Blue-Flame 125” engine
teamed with Powerglide automatic
How hungry is it for gasoline?
A car’s reputation for, and record of,
economy of operation is certainly an
important consideration to most
people. We’d be glad to have you
compare Chevrolet in this respect
with any car at any price.
And, in the case of this new Chev-
rolet, you do not have to sacrifice
economy for finer performance and
more horsepower. That’s because
the Chevrolet engines are high-com-
pression engines. Their compression
ratio of 7.5 to 1 is the highest in any
of the leading low-priced cars.
This means simply that the engine
compresses, or squeezes, the fuel mix-
ture to a greater degree in order to
wring more work out of it. That’s
how Chevrolet is able to give you an
important gain in performance along
with money-saving gasoline mileage
—and on regular gas, of course.
How popular a car is it?
When you come right down to it,
there’s no better way to judge the
satisfaction a car gives its owners
than by its popularity. How many
people buy it and keep on buying it?
Well, as you may know, Chevrolet
is by far the most popular car in this
country. That’s true today and it’s
been true for a good many years now.
But it couldn’t be true—or wouldn’t
be true—unless Chevrolet gave its
owners an extra measure of satisfac-
tion and value.
How much does it cost?
: 1
Is it up to date in features?
We can’t think of a new feature or
development you might want that
you can’t have on the new Chevrolet.
There’s a short, sweet answer to that
one: Chevrolet is priced below all other
lines of cars. This lower cost is made
possible by the greater production
facilities and purchasing power of the
world’s largest manufacturer of auto-
mobiles. Tliat is why Chevrolet can (
offer you all the advantages we’ve
told you about here—and many1
more, too.
We’d be more than glad to have
you see all these things for yourself
and to try out this new Chevrolet on
the road. We’ll be happy to see you j
at any time.
The pot
of lead
yours i
1 i.
MORE PEOPLE BUY
CHEVROLETS
THAN ANY OTHER CARl
W J
Member Federal Deposit Insurance Corporation *
Each Depositor Xs Insured For A Maximum Amount of
$10,000.00.
PHONE 80
STRINGER CHEVROLET COMPANY
SIXTH AT MAIN
TEAGUE. TEXAS
1m.*.
•i *4M
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Richardson, John. The Teague Chronicle (Teague, Tex.), Vol. 47, No. 41, Ed. 1 Thursday, April 22, 1954, newspaper, April 22, 1954; Teague, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1140642/m1/2/?q=%22waco+tornado%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Fairfield Library.