Smyrna times. [volume] (Smyrna, Del.) 1854-1987, 1938-06-02
FROM OUR CONGRESSMAN
WILLIAM r. ALLEN

thoritys capital from 100000, 900
to S800,000,OOO by sale of addition
al Housing Authority bonds and
making the proceeds available i'm
mediately
NAVY BILL - The Presidents
signature has been affixed on the
Navy Expansion bill which author
ICES the expenditure of S1,09O,656,-
90 to enlarge the u. S. Navy 20
per cent.
TRANSPORTATION Commits
sioner Eastman before the House
Interstate Commerce Committee
has advocated enactment at this
session of bill drafted by the In
terstate Commerce Commission to
facilitate administration of motor
carrier laws. Granting Of temper
airy operating authority to meet
emergencies pending formal grant
ing Of permission would be allowed
suspension of licenses, not revoca-
ton, upon reasonable notice to mo-
tor carriers without hearings, for
not complying with I. g. G. re-
quirements.
BANKING-A bill introduced by
Chairman Steagall of the House
Committee on Banking and Cur
rency, would repeal that provision
of law tht denies Federal deposit
insurance to State banks which do
not belong to the Federal Reserve
System. The proposal IS now be-
fore the Committee. P
FARM MORTGAGES The Fed
eral Housing Administration has
started to insure mortgages GA
farm properties. Amendments to
the National Housing Act passed
! in February, permit the Admins
traitor to insure mortgage loans
made on farms on which farm
houses or other farm buildings are
to be constructed or repaired, pro
vided at least Is per cent of the
loan proceeds is expended for ma
terials and labor on buildings.
Rules and regulations covering
these loans have now been prePar-
ed by the FILA. Previously, FILA
insurance has been granted only on
non-farm real-estate loans. Farm
ers who operate their own farms,
those who rent their farms to 9th
ers, and farm tenants and others
who contemplate the purchase of
farms are eligible to borrow from
approved institutions under the
terms of Title II of the Act. In
stitutions approved by the FILA as
mortgages, which may apply for
insurance on farm loans, include
banks, building and loan asssocia-
lions, life insurance companies,
mortgage companies, and other
lending agencies.
MOTOR VEHICLE REGISTRA-
TIONS IN 1887 INCREASES
Motor vehicle registration in 1887
amounted to 29,705, 22O-an in
crease Of more than 1889 900 over
the preceding year. There were
registered 25,405,728 automobiles,
4,255 ,296 trucks, and 44, 196 buses.
Registration receipts totaled $751;
10000. Other receipts for per-
mits, certificates of title and from
miscellaneous sources brought the
total to 1899, $4,000. Additional
payments to States by motor car
riers, such as taxes on gross re-
ceipts, ton-miles, passenger-miles,
and as special license fees and
franchise taxes, amounted to S16,-
216,000.
LARGER SUPPLIES OF
SLAUGHTER CATTLE FOR
SUMMER Increasing supplies of
slaughter cattle are in prospect for
the late spring and summer
months. Marketings of well-fin-
Iished, grain fed cattle are expect
ed to increase seasonally during
the next or a months, and by
summer and fall these better grad
es will be considerably more plen-
tiful than a year earlier. Prices
Of finished cattle usually advance
during the early summer. But
such advance is not likely this
year, partly because of the current
weakness in consumer demand for
meats. In the late summer and
fall, however, some seasonal ad-
vance may occur in prices of the
better grades Of slaughter cattle.
FARMERS INCOME 10 Bill
LION IN 19337-In 1887, for the
first time in 8 years, farmers
grass income including Govern
ment payments exceeded $4,000
100000. For the calendar year
1887, the gross farm income from
sales of farm products, value Of
farm products held for home con-
sumption, and Government pay
ments to farmers, was estimated
at S1O.OO3 100000. Last years in
come compares with $9,317, 900, 900
in 1886 and the low point of 3d.
ooa ooo m IN 1920 Most of this