The Clarksville Times (Clarksville, Tex.), Vol. 87, No. 28, Ed. 1 Friday, July 31, 1959 Page: 3 of 12
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More Farm Sales
Being Made By
Land Contracts
College Station — Sales of farm-
land financed by land contract, a
device which bypasses credit insti-
tutions as a party to the sale, have
about doubled since 11*46. says A
B Wooten, extension economist
The buyer deals directly with
| the seller in land contract trans-
actions No mortgage Is written, i
and the buver does not take title
to the property until his install-
ment payments add up to a sub-
stantial portion of the selling price,
the economist says. Land con-
tracts are one of the several credit
devices currently, helping to meet
the demand for land during a per-
iod of rising prices Rising prices
usually tend to discourage those
buyers lacking either sufficient
cash or the credit to oblain con-
ventional mortgage
In the year ending March 1,
JflM, sellers financed 43 per cent
of all farmland sales, savs Woot-
en The totyl was about the same
as the combined loans for farm-
land purchased by credit Institu-
tions, including Federal Land
Banks, during the period.
A land contract has attractions
for both buyers and sellers, says
Wooten The buyer Is able to get
control of a farm, usually for a
small down payment, leaving him
tree to invest his capital in farm
stock and equipment. The seller,
on the othvr hand, gains a tax ad-
vantage by selling through a land
contract as the total Income tax
on his capital gain when spread
over a number of years, may be
considerably less than the tax on
a large sum received in a single
year. To qualify for this advant-
age. he said, the seller must limit
the down payment to 30 per cent
or less of the selling price.
Some sellers, too, prefer land j
contracts because they furnish a I
steady Income. Otherwise, sellers I
would be faced with the problem '
of reinvesting a lump sum profit-
ably. And finally. In case of pay-
ment default, repossession under
i a land contract is much simpler
THE CLARKSVILLE TIMES. FRIDAY, JULY SIT Iff*
1
and faster than under mortgages,
he said.
Buyers assume a risk when buy-
ing with a land contract because
their equity may be jeopardized If
the contract is inflexible. In some
states, a buyer can lose his total
equity for default of a single pay-
ment. The risk has not been too
important, up to now , because land
values have continued to rise and
farm income has been stable
enough for most buyers to meet
their Installment obligations, adds
Wooten.
RECEIVES GRAND LODGE
M-YEAR AWARD
A grand lodge 50-year service
award was recently presented to
Chas. Grant of Clarksville, mem-
ber of Friendship Lodge No 16.
AF&AM. The presentation was
made by District Deputy Grand
Master Ernest Collins and Past
Master Erby Aikin. The award
consisted of a lapel pin and plaque
Brazil occupies more than half
of the South/ American continent.
Hobby of Avery
Couple s Son is
Walking Horses
Dr Lloyd C Sni h. whose med
ical clinic is located between \ nHr
it rut Beaumont. Texas. bet .*.'fie in
terested in Tennessee walking
horses a few years ago The pride
of his stable is Suns Snbre sal red
at $10 UOC Shown abusr »i'b Dr
Smith guiding him through one of
h s gaits is Five Vtmules Mid
night
Dr Smith’s parents are Mr arid
Mis A C Smith ol Avery. II- ;»
a graduate of Texas AV\|.f all'iC*
and Texas l niseis ;y School *>
Medicine lie received his doctor
of medicine degree June 2. 1*52
His college career was interxup -
ed ,by World War II He
in the Nasal Air Corps and re
turned to A&M after b»- ng «t.-
charged In a class of T3 l*r
Smith was third highest m s» hot as
t.c achievemen's. He was a mem
her of the Scholastic II »nor Socic'*
a" AA M At the school of nursing
in Bcaurnont he was honored as
"doc-tor of the month
Dr Smith's clinic is sqaippei
with laboratory X-iay department
and other modet/ri devices
The Smith s'able is equipp'd
with two dressing racks He osas
a full-si/e van for moving h s show
animals to wherever they arc en-
tered His stock recentlv ipp- rr-
ei! in -hows in Beaumont. !L>.i*‘ni
and Baton Rouge La
I)r Smith. l.*jv ever n »w has
spread his interests in the famed
show horses He also has an in
terest in the Tobrv Green Stab'e
at Shelby v .lie, "'u here horses and.
their care are a* much a par* m
everyday life as growing rice in
the eastern pocket of South Texas
M WHINS F AMILY H AS
ARRIVED IN TCJU O
Mr* Frank \ annll ha« received
word that Master Sgt * Mo.-rts
Mankins. Mrs Mankins and their
daughters. Geraldine and Jeanette
Lynda, have arrived in Tokyo
They made ttie ocean '.rip b*
t lane Mrs Mankins r* the daurn-
ter of Mis Vane'll Scrfcant >lur
kins will he on duty in Japan tbrit
years
A HUMAN BEING
AN INGENIOUS ASSEM-
BLY OF PORTABLE
PLUMBING"
-•-Author's Name Below 1-
In addition to being more
complex, than any machine
yet invented, vour body
possesses the divine gift of
the ability to think and
reason. Your body expects
you to use that ability by
exercising proper judge-
ment w hen it needs help.
Proper judgement means,
that when you are sick you
get the best advice possible
to help you get better more
quickly. You consult your
physician Then you take
the medicines he prescribes
exactly as he specifics.
•
YOUR PHYSICIAN
CAN PHONE
WHEN YOU NEED
A MEDICINE
•
Pick up your prescrip-
tion if shopping near us. or
let us deliver promptly
without extra charge. A
great many people entrust
ns with their prescriptions
May we compound yours*
•
STILES DRUG
COMPANY
Your REXALL Druggist
PHONE 47
•Quotation bv Christopher
Morley
11690 15*57'
Copyright 1959 4W4'
Loan Program for
GIs in Final Year
y,rVj War II veteran1, have en
t -red l!» IajI Year in mtrch ••>;»li
ra’ioa nut be made for a Gl
'<xne farm or bni»>->» hin
Cuariris ♦.»»• vet Ju!> 25. 1X0
a* the cw-oft da'e :n the po-t war
tka' ha* ilrridv «ht.
xa*i).d ntlxa Wunid War II vet-
erans TaVr adv xxi*a>-e of tin- (»'
B If kaa (U"'1 un> since Jane 22
t*M
TW lax alk>- < an additional
year or ursT.l Ju'v 7£. DET fOT
.*e prwtv* r.^ and* actual davtif
«! l*.Ci
The - - da*e-« do n-it pertain to
ivuveaa v«teia9s «!x> have until
Jaexar. 21 l:»»5. to make loan
ait j!World War II vet-
r.'i-a «to als» v.-rved in Korea
are o-a-.lr* 1 koieaa »e eran- for
pxnye -
t vxr the GI V*atJ program,
ijutited Wu-ld War II vetrran*
are offered the orprturu'y to ob-
ra-n V % foarinteeii or insu'ed
kxaas u» a* mobitr. build or im-
prove a tan-.- b bj, a farm or
f»m and • r bus or ex-
pand a !x>o*n« sen.are f
Vjrr tar jr*fr»i« was bum 'ied
a*»c' «p t:j«’"*i Mat 31. 1958 a
total of 4K3X* World War II vet-
<. an* have ma a- Gl loan* f ir a
u»"al fare .atm .4 Vr< ??i tt* ?«
O* *Hi* */!a! 4 C3T 100 laans were
rr.aCr for d ■» ed nZ2A 44 for,
hi- vo seat-are* and 63 800 fori
farm* ar-1 esjuipm*- ■
It iS L r*ei rets* «»f 'he el gifde I
W<rrld W*r !| v e*« rans have t..ken
adv a r»*are of tb* I .an p'ofrjm
\a ev'ept.a*L’» low rr<o-J of le
fan!’* ha - the approval of the
Oatina's laar.cal W *der« and an
/vtrmeh hi**> p* ream: age of 'V
Irvaas Ease limit bear re-'jid in
zbv at e <> *be final due d_te*
Miss Paris Rodeo
1959 to Be Named
The Pan* R ad»-o and Horse C!ut
» v;uc»w.if a '•witcst for the »e-
’i*efa.a «-f V» Piris Rodeo "439
Pa1 - enter VH be prm-a rri at
aeV </ |;wr -v.vi tx-.f'Kinjm-.w
b-nmia: \aru^t 12 >iH will be
awarVi a p-ire at the o;«emnf
vbn
Coates aw*t mud be be'wem
ft.e i.>i </ 14 and 2! tm’usive
anil mu« he ijxni.rcd by a firm
fuw or rmr* or rdw; group
En*-> fee i* Si Judging u II lx
at ’be -ode i arr-va Sunday af’er
kwx. Asran $. at 4 p m Er.fries
* ill be ra'ed (« the bas * at ho: *e
•ai»vVp. 3# per rent, appear >nci*
3 per cent, aid personality 23
per rent liradl nr for contestant1
is S p m August S
Each girt will be required to
r>de m trie parwde August 1? at
2pm and the* will be introduced
that suV: a: the first rodeo per-
form lire- when the winner w ll!
te revealed
Frc m.itsijtiim contact Mr*
flier* M llutcb'son. Route 6
Par.*
(.'eor^c F. MKIregor
IJurird Tuesday
George Fugersnn lIKiretor re
t’rrd farmer of Avery, died in the
Rzd R.vrr Coast) Hospital July 25 '
at 4 p m His funeral was con j
darted Tuesday at 2 30 pm in!
West Bo* e Baptist Church by the j
Rev I) D M-Iler. as* sted by the I
Bit El't* Km Interment w a«
•n the Wes* Boaie cemetery wnth !
(lartsv-.llr Funeral Home direct-
ing
I Active pallbearers were Butter
, Reed. T C Spence I. I* Hamil-
ton. Harvey Brown II W Burkett.
;% B Peek and T I. Nwk« ll*»n
l 'A * Fuller. Them** Allen. Roy ;
, Thompson, lew Fleming. James
1Cade James Hooper and member* i
«i4 the IN»<t Office depaiiment at]
\rlie.-nn. Texas
Deceased was bc»rn in Red River i
(iwitr June 12. MM. and spen*
wec^lek* Me here He wav a j
member of the Oak Grove Baptist !
t harrh
SurviYors are a won. Clyde Mc-
Grrgor Arlin.-ton sister*. Mrs
Sarah M -S-oat. Sulpfxir Spring*.]
nd Mr* L E Browning. Clair-]
' moot Texas, brother*. l>cil Me- i
i Gregor. Texarkana. Vernon Mr
Grrgoc. Van Alstyne. and (Han:
McGregor. Winter*. Texas, also i
three grand Cfcddrew
STOCK UP AND SAVE DURING PIGGLY WIGGLY'S BIG
Prices Effective
Friday and Saturday
July 31 and Aug. 1
I
fe'Nk
ifej&lfLl
WE GIVE
S&H GREEN STAMPS
DOUBLE S&H GREEN STAMPS
EVERY WEDNESDAY
(On Purchases of $2.50 or More)
SWANSON'S FROZEN
T V DINNERS
MOHAWK TENDERIZED
SHANK
PORTION
HAMS
... 39c
BUTT
PORTION ........... LB.
TENDERIZED
HAMS
SUGAR CURED
SLAB BAC0H
CENTER .
SLICES—LB.
PIGGLY
WIG G L Y
Clarksville,
Texas
Shop Piggly Wiggly for
Outstanding Values in
every Department during
our big "Store Wid*
Sale" — Sparkling fresh
Produce, Tender, Tasty
Meats, and Nationally
Advertised Foods at low,
low Prices . . . you'll be
glad you did!
No. 300
YOUR
CHOICE
REG.
PKG.
SNO-CLUB
MELL0RIHE
MIRACLE WHIP SALAD
DRESSING
WASHING POWDER
GIAHT TIDE
Vi Gal.
CTN.
(LIMIT ONE)
PLEASE)
QUART
JAR
(LIMIT ONE
. PLEASE)
PKG.
Walker's Austex Corned
BEEF HASH - - - S„
Welker's Austex
■ Plain 24 Ounce
VVlILI “ " No Beans Can
Walker's Austex
BEEF STEW - - - ?.„0unc*
Sugerless Sweefner
SUGARINE - - - l°:r
Milk Amplifier
BOSCO - - - - £°“nc*
Marshmallows*
SUNSHINE - - - £Ti
HEINZ TOMATO
KETCHUP
14 OUNCE
BOTTLE
RED
POTATOES
10-Lb.
Bag
HOME GROWN
SQUASH
HOME GROWN
BELL PEPPER
L.
YELLOW
CROOKNECK—LB.
WALKER'S AUSTEX
CHILI
WITH
BEANS
NO. 300
CANS
Chicken-O-Soe Chunk
TUNA
3
No. V2 $400
Cans I
Famous Star Blackeye or Purple Hull
m Del Monte Crushed
: PINEAPPLE 4
■ Del Monte Fruit
$400
PEAS
8 S„,”3 *1“ B COCKTAIL 4
No. 303 $| 00
Cent I
DEL MONTE EARLY GARDEN
PEAS
NO. 303
CANS
Maxwell House
«cv.^y
COFFEE
(LIMIT TWO
PLEASE)
1-Lb.
CAN
Sunshine Hi-Ho
CRACKERS -
Family Size Napkins
SCOTKINS -
Aluminum Fell
REYNOLDS -
Bruce's Floor
CLEANER -
O'Cedar All Purpose
POLISH - -
Kasco
DOG MEAL -
1-Lb.
Package
7 Pkgs.
I of 50
25 Ft.
Roll
Quart
Can
8 Ounce
Bottle
t *
5-Pound
Beg
*4*
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Pinson, Joe. The Clarksville Times (Clarksville, Tex.), Vol. 87, No. 28, Ed. 1 Friday, July 31, 1959, newspaper, July 31, 1959; Clarksville, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1005874/m1/3/: accessed July 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Red River County Public Library.