The McGregor Mirror. (McGregor, Tex.), Vol. 49, No. 48, Ed. 1 Friday, February 4, 1938 Page: 2 of 8
This newspaper is part of the collection entitled: The McGregor Mirror and was provided to The Portal to Texas History by the McGinley Memorial Public Library.
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PAGE TWO
McGregor mirror,” McGregor, texas
FRIDAY, FEBRUARY 4, 1938.
THE McSRCSOR MIRROR
Published by
TIDE MiEBROB PRINTING CO.
OfiAS. B. MALL____OWNER
Published Every Friday Morning
{Entered at tie Postoffice in McGregor,
JTexas, as second class mail matter.
SUBSCRIPTION BATES
Year —--------
fiix Months-----
Three Months----
Payable absolutely in advance. Unless
fiubscriptions are renewed, names a*
pubs<iribers will be dropped.
BIG SALARIES
The report made to Congress
the other day of salaries paid to j of this kind—concerns whose
THE HOLDING COMPANY
Destruction of “all holding
companies5’ would revolutionize
industrial America. Its bitterest
effects would be felt by the mil-
lions of citizens who own stocks
and bonds, and by the banks and
insurance compaies to which they
have entrusted their savings.
For, as financial experts pointed
out, about half of the widely-
held securities outstanding in
this country represent corpora-
tions which are wholly or partly
holding companies by nature.
The “big board” of the New
York Stock Exchange, the world’s
principal market place for secur-
ities, lists hundreds of concerns
corporation officials was the first
of such reports in which the top
pay did not go to a movie star,
the highest-salaried employee in
the United States is Alfred P.
Sloan, chairman of General Mo-
tors Corporation, who draws
down $480,000 a year as wages.
But in the list of the top fif-
teen salaries, ten names are those
of movie actors, several drawing
more than $300,000 a year. That
does not mean, of course, that any
of them has the spending of that
much money. When you get up
into wages of that size Uncle Sam
steps in and takes more than half
of it away in income tax. Then
the movie star has to split his or
lier salary with a booking agent,
a press agent and half a dozen
other species of parasites, so that
poor little Shirley Temple, for
example, has hardly more than
$2,000 a week left to live on.
One conclusion which such fig-
ures lead to is that people are
willing to pay more for entertain-
ment than for education. No uni-
versity president ever drew down
a tenth of the money that a pop-
ular pugilist, radio comedian or
film actor gets. Which suggests
that the road to material success
lies along the route of developing
one’s talent for entertainment.
Not everybody can do it, but as
the slang of the day is, “it’s nice
work if you can get it.”
-o-
Logan, W. Va.—Mr. and Mrs.
Bud Chafki have had nine chil-
dren born in the last five years.
There were four sets of twins and
one single birth. Two of the
children are dead.
A. J. Everten
ATTORNEY-AT-LAW
First National Bank Bldg.
McGRLGOR, TEXAS
stocks are owned by the butcher,
baker and candlestick maker, as
well as large investors.
The holding company came
into existence and has remained
in existence for a very good rea-
son—it gave the people better
services and products for less
money. Utility holding compa-
nies have been largely responsible
for the amazing progress made
by the gas and electric indus-
tries. Banking holding compa-
nies have strengthened and made
safer the nation’s banking struc-
ture. Holding companies for au-
tomobiles, petroleum, processed
foods, clothing and a hundred
mighty factors in improving the
other commodities have been
American standard of living to
where it is the best in the world.
The holding company, by pro-
viding unified control and pro-
duction, lessens and eliminates
waste. It provides the most ef-
ficient management. It is able
to produce, distribute and sell
products and services at a mini-
mum cost. To a far greater ex-
tent than most of us realize,
American industrial supremacy
depends on the holding company.
The public should be adequate-
ly protected against holding com-
pany abuses—or abuses by any
other form of business or politi-
cal manipulations. If present
laws are ineffectual, they can be
rewritten. But you can’t entire-
ly destroy.the holding company
without uprooting American in-
dustry as we know it today—at
the expense of every man with a
.yob, a few shares of stock, a bond
or two, a life insurance policy, or
money in the bank.
-o-
Lothar Krause who is a stu-
dent in the School of Pharmacy,
University of Texas, spent the
between-term holidays here with
his parents, Rev. and Mrs. II.
Krause.
Ifriand A/eus
2-PANTS SUITS
WM
• r , ' 7?y
vi
MEMO:
Get one of these Two Pants Suit Values to start your Spring
Wardrobe. ah
A real buy at___________________________________________________
JAY CANNON’S
GLEANERS
THE CAR OF THE FUTURE
Nothing in the whole field of
invention and technical progress
has made such rapid strides as
the automobile. Compare the
poorest car turned out in 1938
with the best of 1918, or even of
1928, and the superiority of the
new cars over the old, from ev-
ery point of view, is instantly
apparent.
But the automobile of today is
as inferior to the car of future as
the earlier cars were to those of
now. Industrial research at its
best is working ceaselessly to im-
prove them. The car of the not
far distant future, the Society of
Automobile Engineers was told
the other day at its convention,
will not only he equipped with a
heater for winter driving but
with an air cooling device to
make it comfortable in summer
heat. Some form of safe, eco-
nomical automotive refrigerating
system is in process of evolution.
It may be something like the
“dry ice” system, widely used
in the desert regions of the
Southwest, where the motorist
can buy at a filling station a
brick of carbon-dioxide “snow”
which has a temperature of 106
below zero and evaporates into a
harmless gas. That is an effect-
ual method of keeping a closed
car cool.
The modern closed car, how-
ever, came in for criticism at the
same convention. The engineers
were told that they were sacrific-
ing safety to style, by making the
car hood too long and high, driv-
ers’ seats too low, and corner
posts too thick, among other
things. Better visibility from the
drivers’ seat is needed.
We’re not going to wait until
1948 for the perfect car, how-
ever. We’ll get a 1938 model as
soon as we can negotiate a good
trade-in on our old jalopy.
-o-
NOBODY KNOWS
No man can be certain of the
intentions of another man; all
that the individual can do is to
be sure of his own intentions.
The same rule applies t*o na-
tions. The United States may
be ever so sure of its peaceful
intentions but it cannot be cer-
tain of the peaceful intentions of
other powers. In fact, in the
Dear Friends: There has been
a definite slowing down of action
in the House the past week. One
of the factors was the unfortu-
nate death of Rep. E. A. Kenney
of New Jersey, which resulted in
the loss of one entire day. We
are now working on the District
of Columbia appropriation bill
and will not complete it until
some time next week. We had
hoped to pass it this week.
As I explained once before,
Congress sits as the city council
for the City of Washington (the
District of Columbia). The dis-
trict appropriation is similar to
the budgets of our cities and is
largely an appropriation of funds
belonging to the district itself.
However, the United States gov-
ernment is now contributing $5,-
000,000 per year of the $45,000,-
000 spent by the district and
there is an effort being made to
get us to increase this contribu-
tion to $9,000,000 per year. Sev-
eral bills to this effect have been
introduced. Personally, I can
not see how any member of
Congress whose own people are
all paying much higher taxes at
home than the people t>f the dis-
trict are, can support such a
measure. There is no state or
county tax in the district and
the city tax rate is only $1.50 per
hundred whereas it is approxi-
mately one dollar higher in Waco
or any other Texas city. There
is no doubt in my mind that Con-
gress should require the people
of Washington to pay a much
higher local tax before the fed-
eral government contributes any-
thing to their local expenses. The
federal government created ev-
ery dollar *of the values here in
Washington and I certainly feel
support the local government.
The 'only other action of im-
portance in the House has been
the passage of a bill changing the
basis of pay for fourth class
postmasters from cancellations to
receipts (that is money taken in
from the sales of stamps, etc.)
The bill is supposed to save the
government about 3 per cent but
its chief merit is supposed to be
the fact that it is easy to know
how many stamps a postmaster
sells although it is very difficult
to tell bow many stamps he can-
cels.
The Senate has not yet acted
on the conference report on the
new National Housing Act which
was passed by the House a week
agn but I am sure they will adopt
it in a few days. It now appears
that the 'opposition of our
Southern Senators to the foolish,
and unfair anti-lynching bill will
probably be successful and that
the Senate will soon be able to
consider some important legisla-
tion. As soon as they pass this
bill Ave Avill have available a
complete system of financing
home-building in the United
States. The Federal Housing
Administration (F. H. A.) will
provide money through a guar-
antee of private loans to anyone
Avho can pay 10 per cent of the
cost of a city home, and the
United States Housing Authori-
ty (U. S. H. A.) will put up 90
per cent of the cost of large scale
low cost housing projects (slum
clearance) whereA^er the locality
aaUI make proArisions for the re-
maining 10 per cent. As I see it
this just about covers the field
so far as urban homes are con-
cerned.
My hope now is, not only that
ed but that we here in Congress
may be able to secure for our
1 rural people the same liberal aid
from the government in the pur-
; chase of a home. Home OAvner-
’ ship is fundamental to the per-
! petuity of our government and
i especially is this true of farm
homes. I think that the Jones-
Bankhead bill of last year Avas a
step in the right direction but I
expect to support not only great-
ly increased appropriations for
an extension of this program of
tenant home Ownership but I
want this Congress to extend to
farm homes the same benefits of
guaranteed loans that it has
made available to our city^jj^:-
ple. We may be several yearjrm
attaining this goal but I am
starting to campaigning now and
I feel sure that sooner or later a
majority of Congress and the
president Avill agree that we must
help every group of our people
to become home OAvners.
light v>f recent events, it can be that the people who get the bene-, onr city people will avail them-
reasonably certain that there are flt of federal expenditures should selves of the opportunities ofler-
nations in the Avorld today which
would not hesitate to attack this
try if such an attack prom-
cou
ised profitable results. .
As the richest nation in the
world this country offers the
greatest spoils to a successful
freebooter. It could give up
much Avealth and pay an indem-
nity sufficient to cover all war
costs to an attacker. It is the
ideal prey for attack.
There are only two factors that
avill deter other powers from
making Avar on the United States.-
The first is the knowledge that
such an attack Avill be met by an
overAvlielming counter attack,
launched by overAvhelming
strength in the implements of
war. The other is the knowl-
edge that, while the United
States is unable to defend her-
self, there are other nations that
will.
The same observation applies
to Mexico, Brazil, Great Britain
and France, as well as Australia,
the Philippines and China.
Conway, S. C.—While he was
in a hospital recovering from in-
juries suffered in an automobile
accident, the .stork visiled the
home of E. J. Roberts for the
twenty-seventh time. Twenty-
five of the children are Irving.
NOTICE OF VOLUNTARY
LIQUIDATION TO CREDITORS
Notice is hereby given that on Dec.
30, 1937, at a stockholders’ meeting
of the First State Bank, located at
McGregor, Texas, the proposition was
duly submitted to the stockholders to
close the business of the corporation
and that at said meeting the following
resolution was adopted, to-wit:
“WHEREAS, the stockholders of the
First State Bank, of McGregor, Texas,
haA’e been called and are now in,
meeting assembled to consider the
liquidation of this bank; now, there-
fore, be it
“RESOLVED, that the business of
this bank be closed; that all deposi-
tors, and all creditors of every nature,
be paid in full; that after paying all
depositors and creditors, and dis-
charging all remaining liabilities, the
remaining assets of said bank be dis-
tributed proportionately among the
stockholders; and that this bank sur-
render and have cancelled its corpor-
ate franchise. BE IT FURTHER
“RESOLVED, that the officers and *
directors of this bank be hereby au-
thorized and directed to take all nec-
essary steps, and execute all necessary
papers, to carry into effect this res-
olution. ’ ’
NOW, THEREFORE, we, the un-
dersigned directors, certify that the
foregoing proceedings were had at
such meeting and that the resolution
hereinabove quoted was duly adopted,
E. C. KUNZ,
C. W. MOGLE,
CARL HORSTMANN
JOHN D. MANN,
M-25 Directors.
-—-O-
Patronize Mirror acUertisers.
and save money by so doing.
V
UJ WAS FURIOUS t
DOCTOR TOID ME/"
\f
'--V
m
„ .*»?• ' ..... V‘~'
y:
When Women
Need Cardui
If you seem to have lost
some of your strength you had
for your favorite activities, or
for your housework . . . and
care less about your meals ...
and suffer severe discomfort
at certain times, try Cardui!
Thousands and thousands of
women say it has helped them.
By increasing the appetite,
improving digestion, Cardui
helps you to get more nourish-
ment. As strength returns,
unnecessary functional aches,
pains and nervousness just
seem to go a way.
rES, I was furious when the Doctor
told me that my baby had the eyes
of a caveman! But, when he explained, I
was grateful to him.
"He said: 'There is no need for alarm,
my dear, every healthy baby has the eyes
of a caveman. That is one of the peculiar
things about our modern civilization . . .
we still have outdoor eyes, developed
through countless centuries of seeing only
in bright daylight. During the past few
generations, our eyes have not kept pace
with our development into a race of indoor
workers, using our eyes day and night at
severe visual tasks.’
"I am grateful to my Doctor because he
made me realize that I must do something
to help my baby’s eyes do all the hard
work that is before them. He says that
eyes were made to see out of doors during
daylight hours. Noav we do most of our
eye-work, he says,- indoors with the aid of
artificial light. Therefore we must provide
the best possible light for our eyes in
order to keep them healthy and unstrained.
"Believe me, I am starting right now to
-guard my baby’s eyes. We are having our
home Light Conditioned . . . and you’d be
surprised at how little it costs. And what
a difference it makes in seeing! Truly, I
am grateful to my Doctor!”
• Ask us TODAY for a "Sight Meter
Test” in your home. Visit your elec~
trical merchant and see the Light
Conditioning lamps and fixtures which
avill give Better Light in your home.
fp
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The McGregor Mirror. (McGregor, Tex.), Vol. 49, No. 48, Ed. 1 Friday, February 4, 1938, newspaper, February 4, 1938; McGregor, Texas. (https://texashistory.unt.edu/ark:/67531/metapth882969/m1/2/?q=music: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting McGinley Memorial Public Library.