Newspapers / The Franklin Times (Louisburg, … / Sept. 22, 1922, edition 1 / Page 5
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THE FRANKLIN TIMES, A. F. JOHHSO*.*E*Kar ui Mux or ?TAB DROPS ? ? Cotton sol* In Louisburg yester day for ?1 cents a pound. , ? After spending several weeks with ner people In Mapleville, Miss Olivia Hobgood left Sept. 10th (or Abiline Texas, to take charge of the School of Oratory' In Simmons College. Miss Hobgood also taught In the summer term of the school of expression at Waxahachte, Texas. ? The following item was sent In from Route 6; Mr. and Mrs. J. S. Kdwarda and son. Henry, of near Moulton. and Miss M^mie Treedlove. who accompanied them here, returned lrom Petersburg. Va.r wliere they ? pent several days Tisiting relatives and friends . o BI? DAI1I RECEIPTS OF COTTOX Raleigh, Sept. 18. ? More than 1,200 bales of cotton are being delivered daily to the North Carolina Cotton Growers' Cooperative Association, ac cording to General Manager U. B. Bialock, who expects the daily aver age to pass the two thousand mark before the end of thig vcet. In line with the policy adopted by the board of directors to make an ad vance of approximately fifty per cent of the market value of the cotton at the time of delivery, the association management has arranged to make a further advance on long staple cotton to bring the total advance up to that mark . The additional distribution will be made in about ten days after delivery and will be based on govern ment figures for the Charlotte district. Cotton of an Inch and one sixteenth or over is known as long staple. The advance of fifty dollars per bale was decided upon by the board of directors as being approximately fifty per cent of the market value of a standard bale of cotton. The defl nite figure was selected to facilitate the handling of accounts of members. Further advances will be made as fast as sales will permit. Receiving agents have been appoint ed for more than two hundred points and contracts have been closed with sixty nine warehouses with prospects of secaring at least a score more. This will provide the association with more than three hundred points for receiving cotton, according to B. F. Brown manager of the cotton depart ment. Where members do not live near enough to a receiving point to deliver their cotton conveniently they may ship to the nearest warehouse and have their bills of lading honored at the. nearest bank, Mr. Brawn slat ee, though it is preferable toSdeliver at designated receiving pouka or warehouses. Conferences with receiving agents were heid by department heads at va riotxs points throughout the State dur ing the past week, Mr. Brown stated today, and all arrangements are now completed for receiving cotton. General Manager Bialock returned to the office today from a trip into the Piedmont section and reported that cotton was being delivered in large quantities to the association Saturday. He is very much gratified over the prospects. North Carolina banks have arrang ed to loan the association two million dollars for its revolving fund. The association has a credit of ten million dollars with the War Finance Corpor ation, which will be avallal le when Practically all the banks in the cot ton belt have been visited by represen iatives of the association. Secretary Ashley Bing states, and the plan for making advances on cotton delivered explained. The banks without excep tion have pledged their co;peration. but not without making a morough in vestigation. The association manage ment has been able to meet all objec tions raised and has proven its plan of financing to be thoroughly sound. The association is still keeping Its doors open for members, according to Homer H. B. Misk, manager of the field service department, but it will soon be necessary to close them as it will be impracticable to reciive a cot ton grower as a member after he has sold a part of his cotton on the open market. The association has more than 4?e.m bales of cotton signed up. which is more than fifty per cent of the North Carolina cottoi crop. A CARIl OI THA5KS 1 wish to thank the While Level Sunday School class that was so good to me in bringing me so many good things to ett daring my ricknew. also . the Maple Spring Missionary Society and all my neighbors and friends that have been ao good and kind to me. i May God bleaa them all. Mrs. JIM ALLEN. J NOTICE Edward Mayo, or anyone elaa con cerned. will take notice that on the 14th day of Jaly. 1?11, at the tax sale held at the court bowse door at Lonts fewrg, N. C. I bought 61 acres Edward Mayo land la Hayeaville Township. Franklin County. N. C-. which was listed In the nn^of Edward Mayo, and that on the aaid 4th day of Jaly, ?JM1. H. A. Kearney, Sheriff of Frank Ha Gouty issued and delivered to me a certificate of sal* tor the said land. That anieaa redemption of the said land la nude on or before the first day of March. lW, I shall claim and de iraad a deed for the same. This Sept. Mth. im? MARTHA L. STEWART. J ?? 2J ? It 1? I* lt 11 ? M ? II LOST I Hound Doff near Webb ? old band ?III. brown with tan legs, tip of tall white, white on woe* . will pay (It reward. ? ? SS ? It C. H. BANKS. IW thowght la Neuralgia BAJTS MlWMfc ~ : .. I Tuffs Pills dlfMtloa. Ralitvt Qm ai4, Jiiiwm and ton* up Xtm km nam I AGAINST MALARIA , .It teem* that European diplomacy is a poker game played wKh chips on the shoolder. ? Waahiugton Post. Thus far The Literary Digest's poll contains comfort For- wets and dis comfort lor vets ? Philadelphia la quirer. REPORT OK THE CONDITION OF The Farmers National Bank At Louisburg. in the State of North Carolina, at the close of bualness on September 15th, 1912. RESOURCES Loans and discounts. Including rediscounts, accep tances cf other banks?_jMld foreign bills of ex change .or drafts sold with indorsement of this bank 1113,118.81 Overdraft*, unsecured _ 3,111 47 Deposited to secure circulation (U. S. bonds par value) 50,000.00 All other United States Government securities 450.00 60,450.00 Other bonds, stocks, securities, etc. MOO. 00 Fu rait'ire and fixtures _ 3,003 12 Lawful reserve with Federal Reserve Bank 2.296 66 Cash in vault and amount due from national banks 2,740.59 Amount due from Stale banks, bankers, and trust companies in the United States 10, SOI. 74 Checks on other banks in the same city or town as reporting bank 84 67 Total of Items 9. 10. 11. 12 and 13 13.437.00 Checks and drafts on banks (Including Federal Re serve Bank) located outside of city or town ofr e porting bank ~ ?56.42 Miscellaneous cash items ...... - - 8,737.25 9,593.67 Redemption fund with U. S. Treas. and due from U. S. Treas ? 417.00 Total 1197,217.73 LIABILITIES Capital stock paid In $50,000 00 Surplus fund 10,000 00 Undivided profits 2,744,78 Less current expenses, interest and taxes paid 1,687.18 1.057.60 Circulating notes outstanding 50,000 00 Amount due to Federal Reserve Bank (deferred credits) 4,349.86 Amoint due to State hanks, bankers and trust companies in the United States and foreign countries - 4,105.82 Cashier's checks outstanding ? 152.53 Total of Items 21, 22, 23, 24 and 25 8,608.21 Individual deposits subject to check 32,172.13 Certificates of deposit (other than for money borrowed) 1 7,574.56 U. S. Government securities borrowed 400.00 Bill* payable (including all obligations representing money bor rowed ctber than rediscounts 3,000.00 Notes and bills rediscount ed. including acceptances of other banks and foreign M1'* of exchange or drafts sold with indorsement of this bonk J1^23 . 43 Liabilities other than those above stated ? Collections ? 81. ?0 Total : $197,117 .73 State oi North Carolina. Couty of Franklin, ss : I, B. M. Stovall, Cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. H. SI. STOVALL. Cashier. Correct ? Attest: K. K. ALLEN. P. B. GRIFFIN, T. H. DICKENS, Directors. Subscribed and sworn to before me this 19th day of Sept . , 1922 . WM. D. JACKSON. Notary Public. My Commission Expires March 17, 1924. - ? } W5JO IS GETTING IT? v ; Jt. ?? ??/ ? r* ^ ?- ?? m ?-? r? most important prosperity problem for the small community is summed up in the Department of Agri culture's recent estimate that city and farm pries are ro far oat of line that the farmer's purchasing power is a fourth less than in 1913. , This situation vitally affects the small town, for the small I town is the link that connects farm and city. When the ex | change of produces between farm and city is not balanced, : the small town is caught in a nutcracker.' , Sincc the farmer's buying power is a fourth less than it J was before the war. The natural question is, "Who's getting Smore than his share?" There are a number of answers, dovetailing into each , other. The greatest trouble is the defect in the system of (listrt * hut ion. by which the city man pays ^y-high prices for prod ucts that the farmer literally sella for a song. The rake-off 'or profit to the average commission tram is far too big. In [the same class are those city retailers who overcharge. In ! many cases, the retailer is the victim of high rents. * The single-taxers pick up the argument at this point and ? ir:'! tSat rent is what is keeping production and distribution , c :sU ?o high.^ To some extent, correct.' As far as manufacturing industry is concerned? that is, i the production of city-made products bought by the farmer ? i?, with relatively few exceptions, is handicapped by over * capitalization. There have been too ipany stock dividend 'and loo much floating of watered stock. Tow*, a business that used lo make $12,000 a year profiteer 12 per cent or. a 'capital of (lOOjOOO, now finds itself with f200j000 capital an.l is trying lo earn the same old 12 per cent ? which toULs 5-1, 000 on the new capitalization. . ' I When price deflation is finished, some way will barefh fc* ' found to deflate the over-capitalization of Industry. T1:c I tranie can bear only so much, then it is bound to cmci:. f Tiae farmer is between the devil and the deep tea. He not jooly is not getting enough for his products but be aiao is | paying too much for what he has to boy. like all big prob- j I feWkJLS? betofcaicareofbytime * THE FRANKLIN COUNTY FAIR LOUISBURG, N. C. OCTOBER 3-4-5-6=7 And Have a Solid Week of Enjoyment PREPARATIONS ARE BEING MADE FOR THE BIGGEST FAIR EVER HELD IN THE COUNTY AND FROM THE INTEREST ALREADY SHOWN BY HUNDREDS OF FARMERS, THE EXHIBITS WILL ECLIPSE ANYTHING EVER SEEN IN THIS SECTION 0> THE STATE. THE BIG RADIO RECEIVING STATION IS BE ING INSTALLED AND CONCERTS WILL BE GIV- * EN DAILY. THIS IS TO BE A FREE CONCERT FOR THOSE WHO ATTEND THE FRANKLIN COUNTY FAIR. THIS IS WITHOUT DOUBT THE MOST MARVELOUS OF ALL MODERN INVEN TIONS AND PEOPLE AT THE FAIR WILL BE I BLE TO HEAR PEOPLE TALK, SING AND MAKE i USIC TN CITIES 3,000 AND 4,000 MILES AWAY. WEDNESDAY PROMISES TO BE A FINE DAY WITH ALL THE SCHOOL CHILDREN AND JOSE PHUS DANIELS HERE. FRIDAY WILL BE INDUSTRIAL DAY AND CO OPERATION IN EVERY PHASE WILL BE DIS CUSSED BY THE HIGHEST AUTHORITY ON CO OPERATIVE MARKETING IN THE WORLD.y TELL YOUR FRIENDS TO MEET YOU AT THE FAIR, OCTOBER 3RD, NIGHT AND DAY. The Best County Fair In The State ADMISSION:' Adults 50c Children 26c lfight 25c A. H. FLEMING, Secretary. m
The Franklin Times (Louisburg, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 22, 1922, edition 1
5
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