Show I New Senator L LOne pi One of the nations nation's foremost educators Dr Frank P. P Graham Graham Graham Gra Gra- ham has been appointed US U.S. senator from North Carolina to succeed the late Sen J. J Melville Mel Mel- yule ville Broughton Dr Graham was president of the University of North Carolina RENT BILL Buck Was Passed The rent control question was red hot Congress knew it The people knew it But something had to be bedone bedone bedone done before controls expired March 31 Congress had to do something It did It passed the buck A rent control bill was drafted by the congress but it laid in the laps of state governors and legislatures the real power and responsibility responsibility re re- for rent controls EVERYTHING congress wrote into the present bill can be nullified by a governor or a legislature if they see fit The The bill continues s rent controls for 15 months or to June 30 1950 It sets up a home rule process for decontrol of states cities or other local areas Legislatures could remove controls throughout a state or in parts of a state A city government or ruling body oi ol other communities could pass a resolution calling for de-control de and if the sta state te governor approved it then the federal government would be forced to abolish controls in that community The bill requires the housing expediter expediter expediter ex ex- ex- ex to fix rents so as to insure landlords a fair net operating income income income in in- come as far as practicable However it restores old 0 O P A powers for the rent expediter to control evictions This some congressmen congressmen congressmen con con- gressmen said would prevent any mass evictions by landlords UNDER THE MEASURE the housing expediter is authorized to sue a landlord for three times the amount of any charge made against a tenant above the legal rent ceil cell ing Under old law the tenant had that power but seldom used it The new act does not authorize further 15 per cent voluntary increases increases increases in in- creases in n rents and any dwellings decontrolled under such voluntary leases at the rent figure contained in such leases Veterans' Veterans priority for first chance to rent or buy a new property are continued in the bill 1 STOCK MARKET Curbs Are Relaxed The federal reserve board had taken an action that should make the ribbon clerks very happy Ribbon clerks is a name applied applied ap ap- plied piled by stock market operators to amateurs who seek to engage inthe in inthe inthe the fascinating business of trying to make several bucks grow where only one grew originally THE FEDERAL reserve board ruling was that the down payment on purchase of stocks would be reduced reduced reduced re re- re- re from 75 per cent to 50 per cent The board had been pressured for several months by the New York stock exchange its president Emil Schramm and securities dealers generally They had complained that the previous restrictions had thrown markets into the doldrums and trading had remained at atan atan atan an unusually low level for months THIS WAS CONSIDERED as strong indication the board believed be be- inflation l tion had ceased to dominate the economic situation Earlier the board had relaxed restrictions on installment buying credit giving a longer term for installments installments in in- on purchases of automobiles automobiles automobiles auto auto- mobiles furniture refrigerators washing machines I |