1 HE CLEANFR ORAfLJM. V P., \OV. 27, 1930. ISSUED KVEKY TH17KHD\T. J. I>. KERNODLE, LdHor. SI.OO A YEAR, IN AD\ Entered at t.ne Poc office at t m. N. C.. t?? *k)omv jjh8m mar Gov. Gardner's Thanksgiving w H Proclamation. This proclamation did not reach us in time for our last issue, but It is good enough to be printed after the day is past. Here it is: 'Our forefathers felt it a duty to be both happy and thankful, and over against the trist and doleful fast day they gave us our national thanksgiving. It rules universal. The President of the United States proclaims it and there 1s not a governor in all the commonwealths so spiritually impoverished as to withhold his doxology on this day. If in the sea sons of young abounding prospe-ity we have forgotten how this great feast day flowed like a merry stream through the stern and rug ged habits of our early fathers, surely in this present hour wc may return to the normal ways of the republic when thanksgiving stood out as a mountain and other days as a plain. We have everything for which to be thankful. There have been more bountiful crops, greater financial rewards and more material pros perity, but never have our people had more cause to be thankful for their moral acquisitions, which take the education which we call life and employ it in the gaining of purity, freedom and power: for the adver sities which stir us from our ignoble ease and self-content and sting us into new strength: for the calls to work and dangers that awaken us out of our sleep and sumn m us to those perilous and ardu, s tasks that make us men; for t' pressure of work and responsibility which holds us in our places and steadies us under the allurement of indol ence and luxury: for a secular state which can in truth say io its cit izenship, for their sak s sanctify I myself; for the highly iized sense of this comonwer. hich breeds in us infinite c< ssion and gives us the power c, apa thy; for all our deep expo' cnces which in the hour of our anguish make us aware of the greatness of life, and not for a divine love which seeks, not our comfort, but our growth, and spares us no trial If only it can bring out the best that is In us." The Democrats will resume con trol of Alamance county's affairs next Monday. It Is not an easy task that confronts the newly elected officers. They will have du ties to perform that will requirt their best judgment, and they should avoid haste in coming to conclusions. In all they do they will be watched closely by friend ano foe. The people are looking for an economical administration. Let there be no multiplicity of officials. These have to be paid and the money to do it is hard-earned tax money. Rather there should be an elimination of officials, but the ap pointees should be such as are will ing to work and earn their pay. Again the utmost caution Is urged In everything acted upon. CnnfomKnc OOtk tha /-nerofluoe V/il ucptvuiutl 1 V1IC walked out of the Dam die cotton mills and since then both the mills and the operatives have been Idle The mills essayed to resume oper ations Monday at the sound of the whistle. A large number reported for work. Tuesday morning the strikers congregated to prevent would-be workers from returning tc work, creating some disorder and doing some acts o violence. Nov troops are guarding the mills. The recently unionized operativi s refuse to work for certain rea;.;ns and they object to others ta', 1 theii places. That's the unhappy and un fortunate situation i. ? Mr.i.fciL-1- l . *? No (Jrundy Tariff "Inequalities" i Remedied Yet. Washington. Nov. 24.?Six months ago President Hoover signed the Smoot-Hawley-Grundy tariff bill, and in dolnr, so admitt'd the it talned ' nequallties, inju. i I objectionable comprom which were to be promptly edied through the operation of he flexible provision of the act. In calling attention to these facts, .the Baltimore Sun says: "In the six months since the Smoot-Hawley bill was enacted, there has been not a single adjust ment of the 'serious inequities and inequalities' incorporated in that bill. ... In the meantime that mis shapen and vicious measure con tinues to take its toll of trade and add to its harvest of ill-will ahroad." Loss In U. S. Trade For October Washington, Nov. 26.?Export ' trade of the United States continu-1 es to decline at a more rapid rate i with the increasing lapse of time ?since the passage of the Hawley Smoot Grundy Tariff Act. The drop1 in exports was greater in October, compared with the corresponding month last year, than in any month since the new tariff was enacted, end in greater proportion than in j any month of the current calendar year. The less in export trade last | month, compared with October. ; 1929, was $200,514,000, or at the rate of $2,406,168,000 per annum, al though the total decline for 'he 10 ( months of 1930 has been $1,092,037, 000, as shown by the preliminary j figures issued by the Department i of Commerce. i October, November and December are the banner export months of the United States, as set forth in '?he Department's comparative fig-, ures since 1925, with October si . v j ing the greatest amount of exports in each of these years. In 1929, October exports were $528,514,00, a gain of $91,351,000 ! over the preceding September. This I year the gain of October exports over the preceding September is only $16,000,000. A comparison with 1928 is even more striking; in that year October exports showed a gain ! over September of $128,407,000. United States import trade in Oc-; er, this year, compared with Oc >er, 1929, fell off $143,063,000, ac e. ding to ihe official figures. The | total decline in imports for the 10 months of 1930 was $1,101,858,000, which, with the drop in exports, shows a trade decline between the United States and other countries of more than two billion dollars in the ten months. t* Judge Meckins has again de nied the petition for an allowance of $25,000 each for the three attor ney- who were active in putting the fri-State Tobacco Co-operative as sociation in the hands of receivers, -lis action is generally commended The association has $500,000 to dis . tribute among its members, and the attorneys said it was bankrupt or near so. The population of the United States, according to the final com pilation, is 122,775,046, whidh is a gain of over 17 millions over the census ten years ago. The gains have been greatest in the south. An earthquake in Japan Wednes day is reported to have killed about 250 persons. | A little milling company in Meck lenburg county Is placing 1200 bushels of high class seed wheat with farmers this fall with the con dition that the seed must be re i turned by next September. I The Alleghany County Mutual Farmers Exchange has recently purchased 2,000 bags of cottonseed ' meal for Its members to feed cat ! tie this winter and plans to pur ; chase another 1,000 bags shortly. Have you heard of the Scotch man? ' Who went crazy trying to teach a ! silk worm how to mend runs in his . wife's stockings? I Who makes hooked rugs out of his discarded golf tweeds? Who sued the livery stable be - cause the carryall he hired from them wouldn't? PLOW LAND LAND NOW FOR YIELDS Fall plowing of farm land in North Carolina pays large divi dends in increased yields as well as in the saving of time normally used in planting. "The fall plowed soil, if left rough ! through the winter, will freeze and thaw out a number of times," says E. C. Blair, extension agronomist at State college. "This action causes the soil to crumble and set into a fine seed for work the following spring. Another feature which should not be overlooked is that the rough plowed surface absorbs and holds more moisture than the unplowed land." According to Mr. Blair, the soil, when plowed in the spring, is very likely to break up into heavy clods which will require five or six har rowings to get into shape for the seed bed. This is especially true of the heavy clay soils. This extra work takes time and is an added expense that could be eliminated by plowing in the fall, he says. F; il plowing not only benefits the soil by creating a mulch that aids in planting and cultivation but in many cases it destroys insects that prey upon field crops. This is es pecially true in the eastern part of the state where the insects live ever in the soil. The process of reezing and thawing of freshly plowed land will destroy many of these pests as well as kill the or ganisms of many plant diseases. Mr. Blair states that the plowing should be done in November if pos sible but should always be done be fore Christmas. For western Caro lina the plowing should be done in November and December on all soils intended for cotton, corn, soy beans and other spring crops. Thete is no part of farm work that will pay as big a dividend for the labor involved as fall plowing, he says. Lougumia?some Durgiars goi in to my house last night, bound me! to a chair and gagged me. Pudinga?Then what did you do? Lougumia?Why, I sat up all night and chewed the rag. Xydas?I woke up in the night and found my wife going through my pockets. Yazge?What did you do? Xydas?I turned over in bed and laughed. "Where does Frances get her good looks?" "From her father." "He must be a handsome man then." "No. You see, he's a chemist." SAVINGS PASSBOOKS SOUGHT BY CBOOKS Use Them to Steal Money by Forged Slips ? Should Be Guarded as Carefully as Cash. Continual vigilance In safeguarding savings pass books, as well as blank and cancelled checks, against theft by crooks, who use this material In for gery operations, Is urged on bank cus tomers by James E. Baum, Deputy Manager of the American Bankers Association, In charge of Its Protec tive Department This department Is continually vigilant In promoting means, both among bankers and the general public, to thwart the operation of bank crooks. It annually investi gates hundreds of crimes against banks and Is responsible for the ma jority of arrests among this class of criminals. "In a large" majority of cases of forgeries on checks or savings with drawal orders Investigated by the American Bankers Association, stolen blank checks or savings pass books were the forgers' cljlef stock in trade," Mr. Baum says. "In many Instances the temptation presented through the careless handling by depositors of can celled or blank checks or pass books so that they fell Into the bands of others was the Imnhdlate stimulus for hitherto honest people to commit their first criminal offense." Banks should educate their deposi tors to exert the same degree of care In handling these Instruments and to avoid leaving them about unguarded as they exercise In respect to actual money because they represent money, he declares. For dealing with the bank robbery situation, Mr. Baum recommends the use of electrical alarms actuated by any tampering with the wires or me chanism and also wider adoption of the plan of state police forces now em ployed In a few states, declaring that last year in seven eastern states where state police forces were maintained there were only 20 bank holdups as against 164 similar attacks perpetrated against banks In Bve states In the central and far west, where banks are denied the advantages of the speedy and coordinated action glTen by state wide police forces. "The records of the American Bank ers Association Protective Department reveal that for many years the odds In 'avor of state police protection have loeen at least 8 to 1 when measured by the experience of banks in states where efficient police protection la missing la the rand districts," he ssjra. RADICAL CHANGES TRANSFORM RANKING National Commission Sees Changing Opinion on Branch Banking Issue?Studies Group and Chain Banks. NEW YORK?Modification of the at- , tttude of bankers on the long disputed branch banking question is forecast in a review and report covering rapM changes going on in banking issued j here by the Economic Policy Commis- ' sion of the American Bankers Asso ciation. The report, however, after j referring to recent proposals that na- j tlonal banks be given branch banking powers within the business territory surrounding their location, declares that "we do not believe that so-called 'trade-area' branch banking Is likely to gain the support of any large per centage of the banking fraternity." The commission says that the "most important development that has af fected American banking in recent years involves the rapid growth of multiple banking organizations in the form of group, chain and branch bank ing systems," and adds that "we pre sent this report as an unprejudiced economy study and have no theories or wfllcles to urge at this time." The staKment says that the commission's information indicates there are now 269 (group or chain bank systems, which control 1922 banks and $15,285, 000,000 in aggregate resources, and that there are only six states and the District of Columbia where it does not find any group organizations. i no commission a iiivcouaauwii , "We have teen in touch -with the managers of many important bank groups," the report says. "Aside from the obvious economies of centralized operation and control a number of these organization heads very frankly tell us that they do not feel that the system has been in operation and tested long enough to justify them in making positive or sweeping state ments as to its advantages or disad vantages compared to unit bafiklng. "The Banking and Currency Com mittee of the House, which is con ducting an investigation into banking developments, has called a number of operating heads of some of the great group systems. These men declared that they found, under certain condi tions, definite operating and economla advantage in both group and branch banking over independent unit bank ing. Some thought group banking was only a transitional stage, that branch banking was preferable and if it were permitted on an extensive enough scale they would chango their groups over to branch systems. Others held that group banking was preferable. "Some held that the ideal plan was a combination of the two with group bank units for localities strong enough to support complete banking institu tions and with branch offices extend ing further into the smaller places requiring banking services but not. large enough to support complete banks. Several of these who advocated multiple banking declared that never theless they believed there would al ways be Toom for vigorous indepen dent unit bank competitors. Government Officials Express Views "The Comptroller of the Currency recommended that national banks be given branch banking powers" within 'trade-areas.' The Governor of the Federal Reserve Board appeared, to be in general agreement with the Comp troller. He said there were 24,645 banks and 3,547 branches, a total of 28,192 banking offices; that in this total, 6,353 offices were either branches or bank members of groups, or both, leaving 21,839 banking institutions that might be definitely termed inde pendent unit banks, having no branches and in no way connected with group affiliations. He said all the banks had t^philoans and invest ments of $5S,500,000,000, of which the group and bf^nch "systems held $30, 000,000,000, or more than half. "Ho opposed nation-wide branch banking at present but said that ulti mately if bankers became trained and experienced in the larger technique , of 'trade-area' banking he thought it would in time evolve nation-wide branch banking under control of rel atively few banks, but he did not be lieve this would mean monopoly or lack of competition. He favored branch over group banking which, however, he said represented an eco nomic development along 'trade-area' lines and would spread unless some thing else were substituted and thought 'trade-area' branch banking would serve this purpose. "It is the intention of the Commis sion to develop its own studies in these questions, watch carefully every move that is made and every bit of information that may develop in this connection and keep itself prepared to give an unbiased and accurate statement of the facts of the case whenever that is desired," the report concludes. Federal Reserve Pays Government In the fifteen years since its estab lishment in 1914, aggregate net earn ings of the Federal Reserve System's twelve regional banks have amounted to $515,216,000, of which $90,672,000 has been paid to the member banks as dividends, representing 6 per cent an nually on their contributions of capi tal to the reserve banks, while $277, 434,000 has been added to the surplus of the reserve bank3 and $147^10,000 has been paid over to the Fede" Government as a franchise tax. 1 Bebacrioe for THfc uLRANBH BANKERS FIND GROUP * BANKING WIDESPREAD Over 13 Billion Dollars of Bank Assets in Affiliated Systems Numbering 1,850 Members? In Nearly Every State. Over 1,850 banks with more than thirteen billion dollars In resources are shown to be associated with chain i or group banking systems in the United States In facts recently gath ered by the Economic Policy Commis sion of the American Bankers Asso ciation. The chairman of the com mission, R. S. Hecht of New Orleans, pointed out that the facts indicate that "almost IVt per cent of our banks and over 18 per cent of our banking re sources are In the great net of group or chain banking that now covers al most every part of the country." The commission's facts comprised chain and group banking affiliations In the broadest sense of the term, the re port said. They included those groupB in which the controlling element was a particular bank, there being report ed 78 instances of this class Involving 407 banks and about $6,473,000,000 In combined banking resources. They Included also groups In which a non banking holding company, not sub sidiary to any particular bank, was In control and of this class 28 Instances were found, involving 380 banks and nearly $5,335,000,000 in resources. The report also Included groupings In which control was exercised by In dividual persons and these cases num bered 167, involving 1,071 banks and about $1,468,000,000 In assets. The Total Figures The total was over $13,275,000,000 In aggregate resources. Some of the sys tems comprised 50 to 100 banks each. Head offices of the groups were found in all jurisdictions, but nine of the states and the District of Columbia. "We have not included in these fig ures," the report says, "banking groups in which a commercial bank, a trust company and an Investment hauso, and sometimes a savings bank, are tied together by some form of stock holdings and operated as com plementary elements In an organiza tion rendering complete financial serv ices. We have held that such groups are similar to a departmentalized bank and different in the purposes and op erations from a chain or group bank 1 ncr Kvstom "For purposes of the present report we define chain or group hanks as sys tems in which centralized control, whether corporate or personal and either rigid or informal, directs the operations of two or more complete banks, not functionally complemen tary, each working on its own capital and under its own personnel and lo cated in one or more cities or states." Commenting on the question wheth er the rapid development of chain banking was In the nature of a reac I tlon against restrictions imposed on branch : inking by the banking laws in many states the report says that observation does not wholly confirm this theory since chain banking is prevalent in some states where vir tually no restriction is imposed on branch banking, as well as in those where the establishment of branch banks is prohibited. It adds: The Question of Branch Banking "However the facts do show that j anti-branch hanking laws have been a factor In some cases, and probably in ? some sections, in the spread of chain banking. Instances have come to our attention where expansion along chain bank lines has been carried out by state banks whose expansion along branch bank lines was stopped by the passing of state laws prohibiting fur ther branches. Yet whether expansion would have been along branch bank lines if the laws had Imposed no bar riers, it is Impossible to say. There is obviously a well developed banking opinion in some sections that the chain bank method brings to outlying banks the strength and efficiency of a big organization without depriving them of their local individuality and sympa thies. In view of the mixed factors noted, we feel It is unsafe to general ize as to what bearing branch banking laws have on chain developments. "The recent era of rapid chain bank developments has found specific re flection in some state legislative ac tion tending to restrict or control chain or group banking. Also we find a sharp difference of opinion among state bank commissioners who have expressed their sentiments regarding ohain banking." In a foreword to the report, Issued in booklet form by the association at its New York City headquarters. Chairman Hecht says that "the Eco nomic Policy Commission does not take a stand in advocacy of or in op position to this new method of con centrating banking resources through the affiliation of banks into groups and chains, but is simply offering as a fact finding body what we believe is the first complete national picture of this rapidly growing movement. SCHOOL SAVINGS GROW A total of 4,22a,935 school children participated In school savings banking In the United States during the last school year, depositing $28,672,496 and rolling up net savings ot $10,539,928, bringing total bank balances now cred ited to this movement to above 60 million dollars, according to the an nual report ot the Savings Bank divi sion ot the American Bankers Asso ciation. Schools to the number ot II, 197 are enrolled in the plan. ?OB8C&1SB BOS THK QLBANKB i TAKING THE GUESS ' OUT OF BUSINESS h By JOHN G. LONSDALE ' President American Bankers ^ Association p BANKERS and business men err in | not adopting more universally the ( tactics of the scientist. When the scientist wishes * to fathom the - mysteries of the I universe or re- } solve things Into f their component I. parts he calls to i1 his assistance the j 1 magnifying power ( of the microscope, j There before him, , like an open book, He the secrets of nature which un- t aided eyes cannot observe. The uncanny power of the micro- . scope's all-seeing eye has revealed countless secrets for the material and ( intellectual progress of humanity. It 1 hi i enabled us to study the processes ] of growing cells In plant and animal life, trace the causes of disease and ' successfully combat the ills of man- ' kind; it has aided the engineer In his ( search for stronger and more service- ] able materials, giving us taller, lighter ] and more sanitary structures, and bet ter highways; It has disclose^ the do- ' fects in steel rails and brought us an i < era of safer railway travel; it has i added to the food supply of the nation; | In fact, It has affected favorabl trvfly every activity of the human i_ee, whether It apply to production, dis tribution or consumption, in time of < p :ace or In time of war. i In the business and banking world, economic research and analysis serve as the microscope through which we are enabled to see basic factors more clearly and thus determine the causes s of success and failure. Only recently have we begun to realize the full value of research and analysis and apply them in such a way as to eliminate the guesswork that wa3 characteristic of industry a few years ago. "Eliminate the guess and reach success," might well be a motto for all of us. John G. Lons'dalo Magistrates' Blanks?State Warrants, civil Summons, Transeripls, o Judgments, for sale at The gleaner offire, Graham. ADMINISTRATOR'S NOTICE. Haying qualified as Administrator upon the estate of Mrs W. J. Quakr nbusb.late of Alamance Co. this is to notify all persons having claim against said estate to present the same to the undesigned duly verified on or before the 21s' day of November, 1931, or this hotice will be pleaded in b-rof their recovery; all persons indebted to said estate are requested to make immediatt settlement 'this November the 10th. IPSO. 1>. V. QUAKENBU.-H.AdnT ? J Notice of Sale of Real Estate! Under authority ol a Deed of Frust executed and delivered by j. A* Wilson and Dociabel F. Wilson to the undersigned R. W. Vincent, dated the 28 of June, 1930, and recorded in tha office if the Register of Deeds for Ala nanca County, in Book of dorrgages and Deeds of Trust f said Fifth Street 80 ft. to a stake ugon the said Fifth St. at the noithwest corner of the lot if R. W. Vincent; thence east with the line of said It. W Vin cent 220.20 ft. at the northaast jornei of the lot of said R. W. Vinsent; thence in a northernly direction with the line of said B. Frank Mebane 79^ ft. to a stake at the southeast corner if tl e lot of said L. A orliett; thence in a westernly direc tion with the line of said L A. Corbett; thence in a westernly direction with line of said L. A. Corbett 218 ft. to the beginning, containing 17,114 sq. ft,, more or less. The said 1 it. of land is offered for sale subject to the following liens: County tax forl928 $80.21 and for 1929 $81.29 and for 1930; Town of Mebane Tax for 1928 $62.94 and tor 1929 $68.02 and for 1930 St. assessmant $530.81; Deed of Trust to secure World War Veterans Loan Commis sion for $2964.33. R. W. VINCENT, Trustee. Louis C. Allen, Atty. The Southern Planter Semi-Monthly Richmond, Virginia The Oldest Agricultural Journal in America 50 CENTS FOR ONE YEAR tl.OO FOR THREE YEARS $1.50 FOR FIVE YEARS TWICE-A-MONTH 200,000 TWICE-/i.nQNTH ! __ : / Qlildr?1! Ciy for' MOTHER! Fletcher's Castoria is a harmless Substitute for Castor Oil, Paregoric, Teething Drops and Soothing Syrups, orepared to relieve Infants in arms and Children all ages of Constipation iWind Colic Flatulency fib Sweeten Stomach Diarrhea (Regulate Bowels Aids in the assimilation of Food, promoting Cheerfulness, Rest, and Natural Sleep without Opiates To avoid imitations, always look {or the signature of C?aS*^T/-ie/cAtA* I Proven directions on each wrhar. "TTTT-* HTT-IT~ '