The daily times. [volume] (Wilson, N.C.) 1902-1936, 1921-04-19
NORTH CAROLINA
CAN SECURE ALL
MONEY NEEDED
MUST PAY SIX PER CENT
Governor Morrison Who Has
Returned From New York
Announces He Will Not Bor-
row All the Ten Million Dol
lars at One Time and Lose
Interest on Balances.
(By Max Abernethy)

Raleigh, April 1S.-Predicting
that North Carolina can borrow all
the money it may require upon as
good terms as any other State, Gov
ernor Morrison, who returned to
Raleigh yesterday from New York
City, declares that the improvements
undertaken and authorized by the
1921 General Assembly will be 'proe
ceeded with as rapidly as possible,
and every contract and obligation of
the State met without a minutes de-
lay
The plan as outlined by the COVER
nor and the council of State will be
to go ahead with the improvements
at the various State colleges and in
stitutions, borrowing the money is
such amounts as may be needed to
finance the projects undertaken.
Assurances were given the COVER
nor and Treasurer Ben Lacy that
North Carolina could get money as it
was needed, and at such rates of in
terest as are current to the RESPONSE
BILE borrowers in the country. To bor-
row money at six percent and use it
in installments would result in half
of the total amount being in the
banks all of the time. On this the
State would draw only three percent,
and as the governor points out, it
would result in the State paying nine
percent.
eve all deem such a policy very
says. 1--WE are going ahead without
building program with absolute con-
f1dence and knowledge that the State
can get money as it needs it,
High rates of interest in the money
markets of the country have been
forced by deflation policy of the gov
ernment, says the governor. There is
no reason whatever for the State to
borrow large sums of money at this
time, the governor making this OBJ
servation with respect to interest
charges on North Carolina bonds:
Il am satisfied the matter will be
SO handled that the interest charges
upon the State pending the time
when we can sell five percent bonds
will be safely within reason, and
meet the appreciation of the people.
] am satisfied that we can now sell
the bonds on a basis of $40, It is
only a matter of a few months, in
my opinion, when we can easily mar
ket the bonds at par
Governor Morrison left the capitol
last night for Greensboro where he
delivered the address of welcome on
the part of the State at the United
States Good Roads Association.
Commissioner of Labor and Print
ing M. l.. Shipman's biennial report
on labor conditions in North Caro-
lima is now in the hands Of the print
er and will have the following with
respect to progress the State is max
ing in an Industrial way.
"The total number of misceIlane-
Gus concerns reporting this year is S.
582 and returns from these indicate
an investment of $699,8O2,9S5. The
$3.50 factories is $249,39O, O,66S; esti-
mated value of yearly output, s462,-
247,078. Owners report the opera,
ton of many of the smaller plants
and include no payroll in their esti-
mates. s"iSLa.'sei ~ =
establishments to the number of
4,945 report an aggregate yearly pay
roll of 71,6S5,972. Number of horse
power employed by SLIT, aggregates
PSI ,037.
"The number Of persons employed
in the operation, of these industries
at given time during the last bien-
NAL period was S4,086, of which
-74,551 were males, 1924 females,
and 2oS Children Eighty-five percent
OF employees read and write. Highest
average daily waae paid adult males.
$4.s6; lowest, $2l70. Highest aver