The Chickasha Daily Express (Chickasha, Okla.), Vol. 53, No. 140, Ed. 1 Thursday, July 19, 1945 Page: 3 of 10
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THURSDAY JULY 19 1945
Cjt Clttlufri (CPtu) )DaUg ffxpgtw
.General News Page 3
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Marlow
US Has Largest
Voting Power
B y JAMES MARLOW
Washington July 19 W) Money
In the form of loam will be needed
to aet the world back on Its feet
The financial expert af 44
nation including ear own kept
thla nppermoat in mind when
they met one year ago at Bretton
Waoda New Hampshire.
They decided the 44 nationi
should establish an international
bank. The bank wouldnt deal with
private individuals. But this it
would do:
1 It would help governments
cities and private corporations
get loans by guaranteeing in
whole or part whatever loans
they sought from private bankers.
2 In some cases the bank itself
would make loans.
The experts called the Interna-
tional bank for reconstruction and
development. They decided it
should have a capital of (9100000-
000. Under the agreement worked
out among the 44 nations the bank
could make or guarantee loans up
to that amount (9100000000.
Each of the 44 nations of course
would have to put up its assigned
share Of the total.
Actually all that money would
not bo put up. Each nation would
put up only 99 per cent of its
share. It would shell out the 99
per cent if needed some time In
the future to cover losses suf-
fered by the international bank.
This country's share of the 99-
100000000 U (3175000000. But
since we have to plank down only
30 per cent of that wed put into
the bank only 8035000000.
Our share la tbs largest of all.
But wed have more voting
power In the operations of the
bank than any other single coun-
try. We'd put the $835000000 in
! MALARIA
CHECKED IN 7 DAYS WITH
WWW LIQUID tor
MALARIAL
DQQ SYMPTOMS
TOks onto is
Drive In at End af 4th 81.
'Watermelon
Garden
lee Cold Slice tie
Cold Melons Sold Whole
OLIN'S
BETTER
PLUMBING
PHONE
1-0-0
FISCHER
PLB. & HTG.
POULTRY RAISERS!
We feel our obligation to you goes beyond
selling you top quality baby chicks to live to
make good producers. A national survey re-
veals that too many chicks and too much
profit is lost each year because folks forget
or fail to follow the few simple rules so essen-
tial to profitable chick raising.
We are here to help you with your chicken
troubles ... to save you money and time. Feel free to call upon us any
time. Or better still come in and see us.
If you are losing chickens br turkeys let us stop
that loss now.
Take advantage of our poultry service. Have them culled for
production wormed and vaccinated by Fred who knows chickens.
If it's for chickens we have it!
Merit Feed and Gland-O-Lac Remedies
OAKES EQUIPMENT
Chickasha Hatchery
Explains International
the Federal Reserve bank in New
York to the credit of the interna-
tional bank. Other nations like-
wise put their share in their own
central banks to the credit of the
international bank.
If the international bank ever
needed money to make a direct
loan or pay off on a loan that
failed it would use the money
on deposit in those central banks.
Each nation would have to stand
its share of any loss by the inter-
national bank.
Before a government city or
private corporation could ask the
international bank it would first
have to seJk a loan in the usual
commercial way: From private
bankers.
If that failed then It could turn
to the international bank. If a city
or private corporation wanted to
go to the international bank for
help it first would have to obtain
the approval of its own govern-
ment. i
It would work like this:
Suppose war-torn Cherbourg
la France wants to buy from
American asaaufaeturers M mil-
ltoa dollars worth of electrical
equipment to build a power
plant. American manufacturers
will want to be paid in Ameri-
can dollars.
Broke because of the war Cher-
bourg tries to borrow the money
from New York bankers. Those
bankets are afraid to take a chance
on Cherbourg because they hare
no guarantee of repayment except
Cherbourg's word to repay.
So Cherbourg turns to its own
government few approval to ask
the help of the international bank.
The French government checks on
Cherbourg's needs and approves.
Cherbourg then goes to the inter-
national bank.
That bank investigates. Then the
bank satisfied Cherbourg needs
the electrical equipment and should
in time be able to pay off the
loan guarantees that any pri-
vate bank making the loan will
not lose. mm
The gaarantee mem ns this: If
eventaally Cherbourg cannot
pay tha loan the International
bonk makes the amount af tha
loan good to the private bank
from which Cherbourg borrows.
With this kind of guarantee the
private bank now makes the loan
to Cherbourg. It will be a tong
term toon. Most of the loans in-
volving the international bank are
to be paid back in 20 or 30 years.
To the private bank making the
loan Cherbourg has to pay about
3 to 3fk per cent Interest a year
on the principal.
To the international bank be-
cause there's a fixed fee charge
for guaranteeing the loan Cher-
bourg yearly pays about 1 to Hi
per cent
This fixed fee Is placed In a
reserve fund. If a loan isnt re-
Said the international bank will
raw to this reserve to make good
the lOk s
If the reserve isnt Urge
enough to pay off the ton the
international bank then rails on
the 44 nations to shell oat each
according to its share -on the
defaulted loan
The same procedure would be
followed if a government say
Chinn needed money on loan:
First to the private bankers and
then if unsuccessful an appeal
to the international bank to guar-
antee the loan or make an out-
right loan itself.
...bothamming
fltes and bussing maquitsM can
hot matter a horror!
Ipny thm I
with Flit! This offset! plssisnfr
fanctidd. kill the
dread gwss lsdsn malaria mas
quitoM as writ at eseunsa
Origin Of
Of Fiscal
By George Tucker
(Substituting (or lial Boyle)
Weisbadcn Germany Ml Of-
ficers in the fiscal section of the
U. S. army wear diamond-shaped
insignia of such obscure origin
that apparently no one knows
what it means.
Infantrymen star the familiar
Crossed rifles military police cros-
sed pistols insignia wltose mean-
ing and origin are perfectly clear
but I have asked scores of of-
ficers over the European theatre
about the fiscal diamond and none
has been able to provide the an-
swer. Uapt Ernest E. Brown of Ok-
lahoma City. Okku laid he be-
lieved the diamond was chos-
en because the diamond tepre-
aented the permanent value.
Brown la a former infantry of-
ficer who fought In Italy.
"I used to wonder about it in
Washington and I asked several
people In the treasury what
meant but none of them knew"
Brown said.
This conservation took place in
a transient officers mess in Ver-
dun recently where we shared a
small table for a night meal.
Brown had been to Paris from his
headquarters near Heidelberg
Germany and was pushing
straight through on the return
trip.
It was a pretty hard trip" he
said. I just took two tons of
money to Paris All kinds of
money South African Palestin-
ian Egyiitian Italian. The last
time I took eight tons. I had to
over-load a five-ton truck to do
IL"
The army handles money like
that in bales of paper currency.
Sometimes money is lost such
as the millions destroyed during
Field Marshal Von Runstedts Ar-
dennes oifensive lost December.
The money had to be destroyed to
prevent it from falling into Ger-
man hands.
Now since the overall picture
of the AEF is breaking up due to
redeployment much money as-
sembled in central points is with-
drawn to headquarters in Paris.
Millions from the sale of mon-
ey orders stamps and post ex-
change supplies must be transfer-
red. Sometimes muddy trucks
whizz by soldiers on country roads
and the soldiers never dream that
behind the canvas is enough mon-
ey to ransom a king.
AndersonSpeaks
In State Aug. 3
Stillwater. July 19 (41 Clinton
P. Anderson new secretary of
agriculture will speak at the
closing session of - the annual
three-day farm and home week
on the Oklahoma A & M college
campus Aug. 3.
I)r. Henry G. Bennett presi-
dent of the college said he had
not been informed when An-
derson would arrive in the state
or the subject of hts speech.
Anderson will speak in the col-
lege auditorium to the general as-
sembly of farm women delegates
flying fanners and visitors.
The farm and home week Aug.
1-2-3 is expected to draw more
than 1000 Oklahoma farm women.
The Oklahoma flying farmers will
meet Aug. 2-3.
Short Orders
Vundalia. III. July 19 MV-Another
Illinois community has
placed a ban on shorts for women
and also issued a rule relating to
men's dress. The city council has
ruled against women over 18
wearing shorts on the city streets
and also decided that men will not
be allowed to go around without
shirts. An old ordinance provides
fines fur persons who appear in
public improperly dressed coun-
cilmcn said. Decatur. HI. also
has a ban on women wearing
shorts.
Insignia
Obscure
Several days later I waa In
Frankfurt examining billions of
dollars looted by the Nails and
now assembled in a bank for in-
ventory by British and American
treasury experts.
I asked LL Col. IL D. Crsgoa
of Nashville Trnn. If he knew
the answer to the origin of the
diamond shaped Insignia. Cra-
gou la chief of the currency
of the U. 8. Group Control
Council.
fie smiled shook his head and
said:
I've often wondered but no-
body ever tokl me."
Bank Set-Up
Cement
Ward Family
Enjoys Reunion
(lty Express Correspondent)
Cement July 19 The reunion
of the family of Mr. and Mrs.
Floyd Ward was held at Anadarko
Sunday at the park.
Those attending were: Cpl. Dean
Lettcrman who recently returned
from England Mr. and Mrs. M. H.
Lettorman Nnla and Dean Letter-
man of Anadarko Mr. and Mrs.
Floyd Norton of Dumas Texas;
Mr. and Mrs. Arthur Rogers Okla-
homa City: Mr. and Mrs. C. O.
Rogers. Sheila Fay and Theola
Mr. and Mrs. Bell Gaddis Ramnnn
Ray Gaddis Mr. and Mrs. Frank
Erwin Joan Wills Dean and Wan- first visit in Cement since moving
da tone Mr. and Mrs. J. T. Wingo away 20 years sgo.
J. D. and Jacqueline of Chickasha Mrs. David 8 leg and children
fr Kta.'nltaii moved to Chickasha Saturday.
Mrl- BU1 Nolan "d children re-
i turned to their home in Lawton
"5 and I Monday after visiting with their
Jimmy of Cement. I grandparents Mr. ami Mrs. W. L.
Mrs. Tillman Wilt honored her . cutshall tor a week
son Paul on his seventh birthday Mr. and Mrs. Fiord Norton Jr.
nnniversary with a party Friday. of Dumas Texan were guotx tf
Games were played on the lawn. I their parents Mr. and Mrs. Floyd
pHvm u'offt unn hv Robert Sietf. Norton. Sr. and Mr. and Mrs.
Prizes were won by Robert Sieg
Roberta Ducalcr and Kenneth
BeUhc.
llonorce received many lovely
llonorce received many loveiy
gifts. A chocolate birthday cake
and orangeade were served to
Kenneth Kay Barbara Ray Ted
Bridie Kenneth Belshe Jaquirta
and Rebecca Scunycrs Datrcll and
Gerald Coktoy Robert Srig. Ro-
berta Ducalcr and Barbara Koeh-
ler. Mr. and Mrs. Sam Meyers af
rpn g
Corpus Christi. Texas 'visited
(rields Tuesday. This was Uieir
And Procedure
Norton. Sr. and Mr. and Mrs.
Fliwd Ward the first of the week.
The Rainbow amembly met
Tuesday night with Margaret Jo
Potts protcming us worthy uiK isor.
Balloting was in order. Eleven
members were present.
CUSTER ORGANIZES
AMERICAN WAR DADS
Clinton July 19 (41 The Cus-
ter county chapter of the Ameri-
can War Dads has been organizi'il
ipit s a. - y-rv-- -
by eight fathers. W. M. U;nk wue
named temporary chairman.
CANT KEEP
GRANDMA IN
HER CHAIR
She's u Lively as Younfttefc
Now her Backache Is better
Many eufleiwre rriicrs amrffn torfcMfce
qairklr sues thrjr discover that Out ml
ckuu if thrir trouble mar be tirp-H kHnrii.
The kidnvjra in Nature's rhM of tak
ing th cum Mills ami want out of the
Wnefl TWjr hrij most people Fbs about 1
pints day
Whm disorder of kblM? fonrtioii permits
fNMMMus matter tn rnmun In your Maud. It
nay raui main n bar karhe.rheumatlrpRins
Jpg pains bM of pep ami enertv. grtting up
night rwriliu piiflinm uivh-r the ryrt.
ntturMa ami iIwjumii Friu.nt or araaty
pamirrs with nmnnimr and Whim some-
time boo (ben im snoMrthiMg wrong wilh
your kidneys or MmUnr.
Ahm wail Ark yiair dragglst for TVmns
1iuntimuhutdmrrtiran5cdierMMfnl!y
1 by tnilKntre fr over 40 wars. t.aiT giv
. happy relief end win kelp tbs mfWa of
. kinitcy lulu flush vut pirnmnoua watla from
. yonr Wood. Ut Duna'a rUb.
PHONE 837
.
' ?
:
118-120-122 N. Fifth
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The Chickasha Daily Express (Chickasha, Okla.), Vol. 53, No. 140, Ed. 1 Thursday, July 19, 1945, newspaper, July 19, 1945; Chickasha, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc1891180/m1/3/: accessed July 18, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.