4-TKc CASOUM TIMES SATURDAY, JULY 31, 1982 .
Br; James Younge To Head Livingstone
? Dr., Ci James W. College effective July l.i
Voutigd; :-a former Bishop William Milton ;
Salisbury, sident, has' Smith, Chairman of the
:;ibeert " named interim Board of Trustees of
jifresident of Livingstone; Livingstone College and.
Hood "' Theological r
Seminary has announc-'
ed. ,
Dr. Younge succeeds
Dr. F. George Shipman
DSTFROTTNAACP Director Benjamin Hooks addressed the Communica
tion Workers of America and told the convention that President Reagan is
waging war Against the poor and that many policies are racist. UP1 Pholo
' CONSOLIDATED REPORT OF CONDITION
Mechanics and Farmers Bank
DURHAM, RALEIGH, CHARLOTTE and WINSTON-SALEM, N. C.
In the State of North Carolina and Domestic Subsidiaries
at the close of business on June 30,
ASSETS
. Cash and due from depository institutions $3,460,000.00
U.S. Treasury securities 2,294.000.00
-..Obligations of other U.S. Government agencies and corporations . . . 8,239,000.00
Obligations of States and political subdivisions in the United States . 4,534.000.00
Other bonds, notes, and debentures . . : ,- 14,000.00
federal funds sold and securities purchased under
agreements, to resell .1 ,850,000.00
a Loans. Total (excluding unearned income) .. .26,875,000.00
b. Less: allowance for possible loan losses . , 344,000.00
x. loans. Net ....... 26.531 ,000.00
Bank, premises, furniture and' fixtures, and other assets i
' representing bank premises 2,324,600.00
tea! estate owned other than bank premises " 315,000.00
Other assets . . . 981.000.00
TOTAL ASSETS 50,542,000.00
1 ' LIABILITIES .;
Demand deposits of individuals, partnerships,
and'carporaiions. ..... .13,472,000.00
Time ;and Savings deposits of individuals, partnerships,
, aixJ corporations. 29,653,000.00
Deposits of United States Government 435,000.00
Deposits of States and political subdivisions in the United States. . . 1,061,000:00
OBftifiecfand.ofticers' checks.,. ........ 708,000.00
TOTAL QEPQSITS .45,329.000.00
"a 1U Total demand deposits 15,154,000.00
4 a (2) Total time and savings deposits 30,175,000.00
Mortgage .indebtedness and liability
for capitalized leases . . ' 53,000.00
Other liabilities , ;J 499.000.00
TOTAL' LIABILITIES 45.881 .000.00
90.000.00
SubOrdinatwi nntes and debentures . . .
''-J I EQUITY CAPITAL
Common? stpek-. :
' aNo shares authorized .... .1,000,000
, ft. Nqxshares 'outstanding. . 142.305
Vf-r.;'; ' ' ' (Par value) 712.000.00
Surplus';".!-' ... 2.888.000,00
Undividedprofits ... . . ' 971.000 00
TOTAL EOUltY CAPITAL . ' 4571 ToOO-OO
50,542,000.00
TOTAL LIABILITIES AND EQUITY CAPITAL
I "t ' t
MEMORANDA
Amounts outstanding as of report date:
' a "Jf. Standby letters of credit, total . . f 48.000.00
b , time,'certificates of deposit in denominations of ,
; StOO-.pOOormore 2.217.000.00,
Average for 3Q,calendar days (or calendar month) ending ' ' '
with report idate: , .
a- Cash a,nd due from depository institutions . . , . . 2.686.000.00
b. Federal funds sold and securities purchased
. under agreements to resell. . . 3.272.000 00
t t Total Idans . r 27.289.000.00,'
d.' Time certificates of deposits in denominations
g w tJf 100,000 or more ., 2.230.000.00
' lOtal deposits ,,46.341.000.00
jh; :,Tdtat assets.-. ' . .53.207.000.00
.Total deposits to the credjt jp.the State of North Carolina
, , oam offlciallhereof . , ; 1.061 .253.49
1. the undersigned officer, do hereby declare that this Report of Condition (in-
eluding the supporting schedules) has been prepared in conformance with the W
instructions issued by the Federal Deposit Insurance Corporation and is true to
the best of knowledge and belief. ' -
: , . - Lee Johnson. Jr.. Comptroller
Directors:,- . . .
J J. San;om Jr, ' , ,
C.C. SpsuidingvJr.
WJ.Kennedy; til ' " ' " "I " ' :
State of North Carolina, County of Durham, ss: -
Sworn to,an4 subscribed before me this 27th day of July. 1982 and I hereby
certify trvat I am not an officer or director of this bank.
.'nV'r ' , Shelia L. McGhee. Notary Public.
m"-a - , My commission expires October 30. 1985: !"'
the sixth president of the -
college who retired effec-1:
tive June 30. . . " !
r In his remarks Bishop .
Smith stated VI am sure-
the administration,;
'" faculty and staff will ;
continue to provide the;
expertise, good ' judge-
ment and profes!
sionalisro necessary - ta!
maintain an excellent
and viable institution !
formerly 'the . Rowan
County Negro Branch
Library and was involv
ed in many church and
civic activities. ' r -
j Dr. ; Younge is a
'graduate of J.C. Price
High School where he
was an outstanding st u-'
dent and starred in foot- ;
ball. He later learned the '
B.S. degree in physical
Franklin Breckenridge NAACP
Presented Ming A ward '
r NEW YORK In-'
diana State Conference
President Franklin , E.;'
Breckenridge -V was;
presented the NAACP's,
William ; Robert J Ming!
Advocacy Award at the
NAACP Annual Con-! ;
vention ? in Bostori.f
Breckenridge, who is an
J mm . - -
eaucauon rrom, Virginia . attorney, . was cited for-
aiaie coueee in hit 'oin!c it,rehin"
under Dr. Younge's
most capable j Petersburg where he ex-
leadership." ' t celled as a member of the
v Bishop Smith further . j football, wrestling and
elaborated that . "the i debating teams. During a
selection of a permanent ; three-year 1 stint in the
president will not bed U.S. Army, he taught at
: maae until sucn time ail ton Mcvienan, s lawsuit
of the current candidates I Alabama, Fort diana
credentials are screened' Huacnuca, Arizona and
s carefully." ' !,did combat service in Ita-
Dr. James Younge is Iy . where he earned three
native of (Greenville, i.battle stars. After an
Tehnesee and the son of ' honorable ' discharge
the' late Prefessor J. W,.1 from the Army he served
Younge who served as as athletic' director 4 at
Business Manager at Uv- ; Morristown College in
ingstone College for Morristown, Tenn.
many 'years and! In 1 949-, he returned to"
Financial-Secretary for school and earned the !
theWorld Wide A.M.E.! master of science degree,
Zion Church. Mrs Pearl in physical education
Younge, his deceased from Indiana University
mother, was head in Bloomington; and
librarian at what was (Continued on Page I0)i
Wachovia To Open
Office In Concord
and for "revitalizing" the
legal program of the In
diana State - Conference;
of Branches." 1 - i ,
In 1972, : Attorney
urecKennage tiled a
against the In-
State Police
Department to end
i discriminatory hiring:
practices. The
, 1,000-member force had !
only two black troopers
As a result of his efforts, '
that number was increas-'
ed to 80.
, Breckenridge' has also
acted as local counsel for
the NAACP in school!
desegregation suits and
in numerous individual;
civil and employment
discrimination cases.
Among his earlier con-1
tributions as state con
ference president, is the
mobilization of black
; corporate lawyers from i
;the National Bar
I Association to provide
; no-cost '. . assistance
I toward national and
local' NAACP legal
'eforts. He also establish
ed the first paid Indiana
.State 1 Conference 1 Ex
ecutive Secretary 1 and
one of the first statewide
NAACP ACT-SO
scholarship " programs.
ACT-SO is an NAACP i;
program for 'motivating f
minority'students toward '
scholastic achievement
and academic excellence.
. oecoming orancn presi
dentinl972. ',
Presently a senior at
jtorney v and assistant
.'secretary for MilesV
'Laboratory in Elkhart,
Ind., he has also worked
with the Indiana Depart-.
... .
a teacher. V ; r
1. Breckenridge received !
a bachelor's dptri in1
education and his ! law ;
J w aa
oegree rrom Indiana
Breckenridge has serv-f - University.. He and his
ed in many key positions Mte Cora have three i
in the local . NAACP children. '
branch He was chairi I V He is the eighth reci-
i man of thp T pitqI DHcor : Dient of the Mi no '
Committee before ward. :. Z' j
. ADJACENT TO RTP
3 mins. RTP 7 mins. Durham
., 12 mins. Duke
Century Oaks
Apartments
IMMEDIATE OCCUPANCY
i, 3 Bedrooms s v,
Fireplaces In Townhouses
Energy Efficient Features
Up to 2Vi Baths
Jogging Trail '"'
10 Apt. Designed for
Draperies
WasherDryer Connections
Pool & Club ?iusa
Private PatioBalcony '
Tot Lots ; . .
Indoor Handball
Bacquetball Facilities
the Handicapped
Model Ooen Dailv
Monday-Friday 9-6 Saturday 12-4
4701 E. Cornwallis Boad
Phone 544-178t Today!
. WINSTON-SALEM,
Wachovia Bank and
Trust Company has an
nounced plans to open
an office in Concord in
the near future. Timothy
V. Crist has been named
city executive for the of
fice, which will be located
at 50 Union Street
North. .
, Wachovia received ap
proval in February from
the Comptroller of the
Currency to expand into
Concord. But delayed
opening to pursue a pro
posed merger with
Cabarrus Bank , and
Trust Company, The
proposal has expired and
negotiations have been
discontinued. ; '
"We are proceeding
with plans; to open in
Concord as soon as
possible," said John F.
McNair, III, vice chair
man of Wachovia. "We
are pleased to have ac
quired an excellent loca
tion in the downtown
business district for con
structing a main office
facility."
The property which
Wachovia has under op-'
tion, and will acquire
shortly, is bounded by
Union and ! Church 1
streets and Holly Lane.
The current occupant of
the site will relocate
within six months. At
that time, Mcnair said,
the property will be
cleared for construction
of a two-story colonial
design building.
"Installation will
begin immediately of a
modular facility to be us
ed until the permanent
Wachovia building is
completed," McNair
said. "The temporary
office will be located on
part of the lot at the, cor
ner of Union Street and
Holly Lane. This loca
tion is ideally situated
for our needs, and we
believe that Wachovia
will make a valuable con
tribution to the area
through the personal,
irnrnnratd true ani m.i
ternational services tHat
, will be offered."
s Crist, a vice president;
will bring over eight
years of experience with
Wachovia to Concord.
He became a Personal
Banker shortly after
joining wacnovia in (
1974 and served as
manager of the South 1
Park Office in Charlotte
from 1975 to 1977 when
he was named retail
marketing officer. He,
has been regional branch i
manager- with respon
sibility for nine
Charolotte branches
since 1979.
A native of:
Waynesboro, Pa., Crist
' holds a bachelor's degree
in business administra
tion from the University .
of South Carolina. He
and his wife, Kay, will
move to Concord in the
near future.
The Concord office
will be Wachovia's first
branch in Cabarrus
County. Wachovia; the ''
32nd largest bank in the
United States, currently
has 197 offices and 102
Teller II automated teller
machines -in 82 North
Carolina cities and
towns.
Carpool Lists Out
For Raleigh Campaign
This week, more than
2800 downtown Raleigh
workers who want to
carpool will receive a
computer list of other
commuters who live
nearby who also want to
share the ride to work.
.This ( is the result Sof.
Capitol Campaign 82, a
comprehensive effort by
TRI-A-RIDE. the
region wide ridesharing
program, to increase
ridesharine to downtown
1 Raleigh.
In May, major public
and private employers
distributed applications
for carpool matching to
21.000 employees. More
than 2800 people
responded. Of these, 775
asked for . t ransii in for.
mat ion too. "This u a
thirteen per cent return,
which is excellent". saiH'
v.Ms.yv Anne Franklin.
TRI-A-RIDE coor
dinator. "If only a
quarter of those who
receive match lists ac- .
lually start riding in a
carpool, vanpool, or bus
to work, 700 cars will be.
missing from parking
lots and rush hour traf
fic. f The commuter will ;
save monev . and . th '
downtown , community '
win oenem 100. ,
The campaign is a
result of a cooperative
effort by the N.C.
Department of
Transportation, the City
of Raleigh, the Greater
Raleigh Chamber " of
Commerce, and TRI-A-RIDE,;
which is spon
sored by the Triangle J
Council of Govern
ments.. Governor Hunt
encouraged state govern-
mcnt workers to par
ticipate. Carolina Power
and Light Company,
major , ? banks, . and
Hudson-Bclk arc among
the j i. private employers
who gave top manage-'
mcnt support to involv
ing;; their employees! in ;
the project. In the future
TRI-A-RIDE will work
with 5 this group to in'
volvc new v employees,
provide I preferential
parking for carpoolcrs,
and develop vanpool or
fleet ridesharing pro
grams. v
TRI-A-RIDE serves
residents of a six-county
area - which includes'
Raleigh, Durham, and .
Chapel Hill. They will
send a : free carpool
match list to anyone who
calls . 549-9999 for
ridesharing assistance. .
For more information
call Ms. Anne Franklin
at54W)55L, . 4
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