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
<fo. 100, at page 153, default
Hiving been made in the pay
nent of the debt secured by said "
nstrument, the undersigned
vill offer for sale to the highest
lidder for cash, at the couot
iouae door in Graham, North
Carolina,at 12 o'clock, M , on the
FIRST DAY of DEC., 1930,
;he following described real es
tate:
A certain lot of land lying and
aeing in the town of Mebane, N.
3., joining the land of R . W .
Vincent, B. Frank Mebane,
L. A, Corbatt et al and begin
ling on the east side of Fifth
3t. of said town the southwest
jornar of the lot of L. A. Cor
oett (formerly the land of Fan
nie Kerr Mebane Bason); run
ning thence south with the line
>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~ '