Vagabond Editorials

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Mr. Wallace knows little or nothing about cotton. And, when folks who know a lot about cotton try to tell him, he doesn't seem to lrear so good. His sending outfit works swell, but his receiving set seems to be on the Fritz all the time' - ,k ,N *

It is a fact that the rest of the world is buying less and less of our cotton, raising more and more of their own, finding more arld rnore substitutes for cotton. It is likewise true that the great cotton industry of the South is rapidly disintegrating. Firms are breaking up, their employes are hunting jobs, and there is left today only a skeleton of the great industry that has been engaged in marketing American cotton to the world. *** w. L. clayton, tt " "ottir, ;"; n".""rsing one of the finest rhentalities in America and knowing more about the world's cotton business than any other man (likewise a man whose character is high and whose integrity is golden) says our Governmental cotton plan has doomed to destruction the American cotton industry.

Such newspapers as the Dallas (Texas) News, located in the center of the world's greatest cotton raising area, is thundering against the cotton program as purely political and utterly destructive. But the little man from Ioway just snaps his fingers. They don't see things from the Ioway viewpoint.

*:f r have been declari"g ; irr""orrr-r, for the past two years that these double-damned tax-free securities have been an absolute blight on the economic and industrial situation. They have done more to increase unemployment and extend depression than any other one cause. Seeking the safe harbor of tax-free security and Government guarantee of repayment, untold millions have been withdrawn from industry, commerce, and every other active channel that keeps this nation economically ang financially alive. Business has been drained white by the withdrawal of funds to buy this typq of bonds. Whoever conceived the idea of selling billions of dollars worth of tax-free securities in an effort to revive staggering business, should have been tapped for the simples in the first place.

But the word of the big man who knows (and whose opinion is backed by a mountain of physical evidence) goes unheeded; while the word of the little man who doesn't know -remains the law.

The employ", or "ottorJo;" ," the South one hundred thousand strong, have organized in defense of their jobs and of the industry that feeds them. They have a militant organization whose sole object is to keep the Government cotton program from wiping out their means of livelihood. They are trying to help the Government fight unemployment by fighting the Government in defense of their own jobs. Funny situation, isn't it? Only these cotton workers can't quite see the joke.

One Stop Service

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How to Obtain Fcderal Housing Loans

By Col. \ilm. H. Evans

i Supervisor FHA, Southern California District

FHA Modernization Loans under Title I, may be secured by application DIRECT to any FHA approved bank, building and loan association, department store, contractor or building supply house. The application form is sh,ort and simple. fn most cases as no title search or escrow are involved rapid servi'ce may be expected. Fun'ds derived from Modernization Loans may be used to finance additions and alterations, and the purchase of household appliances.

Title II Loans are of a different ,character, altogether. These funds are advanced by lending institutions for use in the pur,chase, construction, and refinance of one to fourfamily dwellings. The quickest and simplest method of getting a Title II Loan is to apply directly to your bank, building and Loan association or mortgage company. When the application blanks are filled in, the applicant must also submit the following: (1) Four prints of one photo of front of property; four prints of one photo which shows adjoining neighborhood; (2) tax bill, also data concerning assessments,if. any; (3) cashier's che,ck, made payable to the FHA, at the rate of three dollars per thousand of loan arriount; (4) in the case of new constru,ction, three sets of plans, and three sets of specifications; (4-b) in the case of proposed alterations, three sets each of plans and specifications of contemplated 'changes. Upon the approval of the application the FHA will issue to the lending institution mortgage insurance under whi,ch the lender is fully insured against loss.

Buys Lumber Operations in Arizona

The Cady Lumber Corporation of McNary, Ariz., and its subsidiaries, were sold at a public sale to James G. McNary by Chandler Wood, receiver, at Flagstaff on July 31. The purchase price was a little over $800,000.

The properties bought by Mr. McNary included the Cady Lumber Corporation, the Apache Railway Co., Standard Lumber Mills, Inc. and Southwest Lumber Sales Corporation. The Cady Lumber Corporation plant at McNary has been operating while the company was in receivership. Mr. McNary has been with the Cady Lumber Corporation since they started operating in Arizona, and before that was associated with the late W. M. Cadv in the Cadv Lumber Co. at McNarv. La.

Council Mcets in San Francisco

California Lumbermen's Council held its resular monthly meeting at the Commercial Club, San Francisco, August 24. George Ley, president of the Council, presided, and there was a good attendance of members. Harry A. Lake, Garden Grove, president of the California Retail Lumbermen's Association, came from Southern California to attend the meeting.