Newspapers / The Journal-Patriot (North Wilkesboro, … / Jan. 25, 1934, edition 1 / Page 8
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^^U>ka«MiArTa v» A n ' Kl«d to Wll you ttot w* fiaye ] had to mature d«rf*f, PS^FB1M)US YEAR boIHp on ou^boofa a r«-fllST sh*tw. W« had m ENWYED BY B* & I'*|MrYe of ff.OOO.OO^bud thta ★« durinfSthe year SSM .riiaws 6t akwM.tll't'«iA«lr anil \wRA rViRTAII (Contlnnod from page ono)‘ i«r withdrawn raon, SiJt^fcake ?*"®"' J- «■ »«*“* ^ Jt»fc, Dl«s At 'm* i More than 200 ahares of new Xr&oCy XMlI* Istoftk waa subscribed by tbe jstoek was subscribed by 9»lt i stockholders at the meeting. The 144th series, which Is now open w . .]44th series, which Is now open «ty, UUh, an uncle of J.^ continue to be open un- n, of this- clty^ ;^^^!tll Febmary 1, is expected to be • \ > . *9 , „„ by death at the-homo pfj the largest series In the history tR. diwyson st Trade, Tem.‘of the association. ■May afternoon at 4:40 o'clock. | Directors elected by the stock- liPwr Imalth for some time, he (holders were: J. C. Reins, 3. V. " ‘ " Tomlinson, J. H. Rector, D. J. Uone without reducing our profit}fnatuHment stock and ih,# shares 4;jschedule but only a tew cents, (of full paid stool:, making a to- Thls year the undivided profit ac* ital of 8816' shares withdrawn, count had apportioned to It'hear-[ We ended the yefr. with 5907 iv 7 per cent after taking ont of shares of j Installment- stock an* the account the Sum of |8,000,;2757 aharre of full peM stock.;^ for the contingent resenre. It is makliig a total of 8664 *hares In my Information and belief that force, or 786 shares less than we our Association Is one of, It not started the -year wlth.f^hfehj^ the beat, Associations in North an excellent record after yon take Carolina which T>ays to Ite InsUll-} Into consideration the crisis we ment stockholders the high rate ’ hare had to pass through in the ■ -taken seriously 111.-Only 3un- I pl^aotnlBg. ' * ' fihr. 'and Mrs. Grayson came j.lTom the west only two weeks t Ij^to attend the funeral of their Iter, Mrs. Margaret MulTan- ot Hickory, and had been relatlres In monpy 84,60, idaW ir.44#'»feillfel4^ W ie:^o®!e): aUrt^tlslng ,and;i»ar saW«g ait printing |60.0«:_taxes 1688.16j mlscellaneons expensi', Including postage,^etc.. 8178.30. making total expenditure®’,of operattaf, expense 82,889.46^ which Is a lit tle less'Mian" 8200.00 per month all told. I do not beldeTe that there is another^: association in the^fats of'Ko^ ’^flureltha of belBff operated ;i0r this n^ey.bnt tn most epsei twice and three ' times aa mneh. UaCUb ovaavaa«w*»*i**w —- —«— . _ _ - . ^ of Interest for the funds entrust-.year of 1988. So many people ed to it. who had savings with the bulld- Oarter, Waugh J. B. Snyder,. W. H. ••I can also report to you that loK loan that t^y ordlni^ly your ^ard of dl^tors has been‘would not have Uken out, had more than diligent In looking to withdraw their money for rar- H. M. Hutchens R. the assTlatten for the past^lous and sundry ^on^«^ Hams. At their meeting which Itwelve monins, luey luavc u«u . , , , fha hanlr idisappoint some people who ap-,curred Jnst following plied for loans reason that‘holiday that was wderod Iw the States , »,J„ „„„ —■ —'jthey could not see their way. President ■Mng relatives In Tennessee | held following the stockholders, grant the amount asked jo“ March 4th, but during the «d North Carolina. They were meeting, the directors elected of'ifor mostly due to the fact that i crisis. If It should be termed as MIMS of Mr. and Mrs. J. C. Gray- fleers as follows: !,j,_' Property offered as collateral,, such, I am glad to tell you that ttm. of this city, test week, re-{ J. C. Reins, president; S. V.' ^ ^ - • I™»d» nr has ever taflJng to Trade last Friday. ,Tomlinson, vice president; A. H. 8b. Grayson was a native of Casey, attorney, and J. B. Wll- •Bsesnee and was for several Hams, secretary-treasurer. engaged In the mercantile | The complete report read by ers as toiiows: Ufae property offered as collateral,, b“cu, * um ---- city, test week, re-{ J. C. Reins, president; S. V.j, opj^jon^ ^ould not bring no demand was “*de or has ever .VMlina/ow v{/»A A M. . _ .. a . Ivt I IQ&dB QD UBtll tfliS tlfllft OH Madness at Trade. Later be be-j Secretary - Treasurer Williams, «nme a traveling salesman. He telling the story of last year’s Moved to Utah a number of years * successful business, follows: a uuw ‘wiiuB I under foreclosure proceedings! been made np unUl this «me on lone-third more than the loan ap-jyour assoclaUon plied for. In other words, it Is the er ^n.’^hlch he Mk^ to ^‘tMraw rule of this association not to moneys that he tod depMlted loan but 66 2-3 per cent of the with us ‘'«t ^ apnraised value of the property! money on demand and for the on^ mortgage loans. Of course,(full amount “ked.for, wWch is inroa lo t'laa a numoer or years successiui Dusiness, louows. mnrtRaee loans. Of course, • ^tixi a-mv/utat- —, go- ! “AS secretao-Treasurer of, “loans can be made up to!a record I am confident unexcell- He was a member of the Metho- your Building & Loan Associ-.gu pj ^he value of the|ed by any association in ,o a waa a mcmixci luc wtCAUU- .VUUI uuiiuaug **- church and was a member of ation. I wish to submit to you a ww Masonic order, being both a ; report of the activities of the IZsd degree Mason and a Shrin-' Association for the year of 1933.^ I “Tn the beginning I am pleased ' wife I to tell you that we have just fin- b'r It 90 per cent of the value oi inej'=" stock offered. I believe that you.state. can appreciate and are 100 per "We did consideralble reflnanc- cent behind your directors in ing of homes last year. We only . - , this procedure, as we all know made twelve loans which were flnrvfving him are his wife j to tell you that we have just Hu- the year of 1933 was one of the I used in building new dwellings, aeven children, all of whom ished the most prosperous year of'^iost “hectic" and disastrous j but as you know, there was very In Utah and Washington, and our history. I mean by that our yg^^g from a financial standpoint j little new building in our town ~ .perhaps any year In the his-^and community last year. In the tory of our country, and If not In [year of 1932 we made loans to the history of the country, at ^assist in building forty new least in the history of this gen-(homes which shows that there eration. We know that banks (was a substantial decrease in failed not only in the United j building of new homes In our States, but throughout the world ^ town last year. However, we have I will answer your, I*»tlon the beat of my ablUty. "1 might ad* In coBcloaioB- that your djroctor* held twelve meetings last year which la In accordA&ce with th® - goT®ni- Jpg buUding and loan aaaoda- tlons, and seven of yonr directors^ attended every, meeting. It wae not irtMWn' to have tba meetings atte^te^ hr fhe directors. 100 per that some of Ooiorge Wyera wu the Mr. R. M: Waddell,, Jr., late day afternoon.; Miss Ruth Wiles '.was the of MIm NetUe . MiroHl. Bight. HI Mr. Brvlng Bnrehett, waa tka guest of Mr.' 0. W, Wiles, Moa- j _ day night. .•t*’ Mr. Harding Bowen nas becaft his fana work . for s the easly twice and tnreo 'times as mncii, eept tor reason tnat some ■» ttm tana worn . lor toe esny which shows that your dlteoton j tJiem were bnt of town, or detain-J,gprti^ and hoping, he wlU maka ara very conservative in itoking|^t pome on accoant. of sick-,j^gaecaM> after'the operating expenses. /4»e8a or otMSwlal#?^ and copld - wei|^ only CMtoit ua v./s.(su CX14U VT caouaii{^wu, oauu vui niaLtftj. x — sister. Mrs. Rebecca Butler, i ratio of earnings for moneys in > M Mountain City, Tenn. (vested was more than 7 1-2 per -Faneral arrangements are in-1 cent. Your board of directors ■amiplete pending the arrival of after careful consideration and Mte children. : on the recommendation of the 'National and State Building & 'T C W«jyns»r With Leagues, and the Insurance , , I Commissioner of North Carolina, ppt only did the small banks carefully estimated the vawe of City Barber Shop ; decided to set up a contingent i tj,e largest fl-1 new homes we assisted and help- i reserve which is to take care of | ingtitutions that we had : ed in building, which, I av'ov.x • •' Been Operating Barber Shop, any lo.ss that the Association gpmg pf them 1 opinion, Increased the On Sixth Street For Sev- I might suffer. In other words, if I },gyg to this date failed to be re-(property In the town of North eral Years i wo ahnnld have to take over real I t o.io.a tr, toil vmi i wniroahoro 953.000.( August 12th,. which now gives us eight different series in force in stead of seven as heretofore. The August series, I aia glad "to ad vise you, earned for the five months it was in force the sum of ,09c per toare, whhsta 'means that there was an earning of 7 1-2 per cent on ihls series and this was after we had taken from the profit account the 88,006.00 which was set over to the reserve for contingencies. /‘The profits paid In cash to the stockholders last year were as follows: “On maturing Installment stock 82,945.00; on installment stock withdrawn before maturity 815.- 153.45; on full paid stock 813,- 576.47, or a total of 131,674.92. "I will now submit to you a financial statement as shown on our records as of December 31st which was publshed in Monday’s Journal-Patriot: ASSETS: Cash on hand and In Banks Mortgage Loans Stock Loans Furniture and j Fixtures ! Real Estate j{^'.'Secreteryr:T]ri9ifttter.’'' ra«i^3|Md4»llI Dept, stored-^^ ; ' ''ifi ■ lAffl) QF "Our ''apecial tale"" ] :y:. GAffl) We wish to express onr sincere appreciation to all onr friends and neighbors ter tba many acts of kindness shown us during the Illness and death of onr darling tether. ' MR. AND MRS. W. A. CHURCH. S|>ecial are vvrf iow on liriiii Suita, Bed Room SCorea, • Ranges, i n eweiy items is mariced ;;f(l »*;j“** todmye—— Fumiture C(h- ymcinatm^ oj NATURE - .8 17.136.47 . 391,800.00 . 10,750.00 225.00; 4,600.00 ' in our taxable I jsf q Bonds 11,745.00 'estate and then sell luiuubuwu- — T. C. Wagner, popular local. g, ^uch for it as our loan ^j North Carolina there was not j stockholders and two colored i»-ber. who has been operating jand interest called for. then any long bulldint, and loan association stockholders, making a total of Bb Wagner Barber Shop near the.) losses suffered in that way would failed. I have no Informa-Ues different people owning r In Ua IaVaH from the un-l., a ncanAlailnn a,nAlr In Alir flHfsncIfltion. it and notjjj^^ throughout the State (at the end of the year 463 white * A O. Grocery company for ijave to be taken from the Mveral years, is now with the divided profit account. We are «!ty Barbe? Shop. not contemplating any such loss- Mr. Wagner was added to the ^ pg h,,! due to the financial con- «ty Barber Shop personnel the, dition of our country and exper- Sast of the week and his many i ience of other associations as Brfend.v and customers will .fee j veil as the banks and other fi- Botarested to learn of this change. I nanoial Institutions, there have J—.. " been losses suffered we should have to take over i habilitated. I am glad to tell you I Wllkeshoro 853,000.00. We had ii.g(.gi 8436,156.47 | ... .X xt- A..A.11 n i ... M C 9 vortv 8* A I _____ ' LIABILITIES: r Installment Stock ..8141,398.00, Paid-Up Stock 276,700.00 j Undivided Profits .. 16,058.471 Reserves for | contingencies 3,000.00' la the shadow of the Andes Mooiuains, Nature stored theworid’ssupplyofCJillean Natural Nitrate. Nature it your friend. She made your land. She’ makes your seeds.' She created die three plant foods that are the sinew of farming in die Soeth—-potash, phosphate, CHILEAN NATURAL nitrate, the one and only natural nitrate fertiliser. 1^9 CHILEAN NITRATE WAS FIRST USED BY SOUTHERN FARMERS WHEN ANDREW JACKSON (OLD HICKORY) WAS PRESIDENT (1829-1837) lUilt litAlCU. X xieavo asw »»**.v* ^ ^ . . tion or re ;ord of any association stock In our association. We hold failing in the United States. If; in our mortgage files 141 mort- there has been I have not heard (gages and 21 stock loans which 0I u were secured by stock already “I will now submit to you' Paid In to the association, data, facts and figures regarding | “We loaned during the year the activities of our association j 8212,870.00. that Loans retired dur- for the year of 1933. We began j ing the year were $263,163.00. 'the year with 9460 shares of i Stock retired during the year, Ladkvi' short fur Fabric Cuat.s. not contemplated at the which was dlvuied 6866 in either by withdrawal or matur- . popular than ever, lovely loans were made, and in “''“ei'j 2594 in' ity, 8147,256.00. We received in styles In broadtail and lapin that we may never be emba^a^ stock. We had Issued - interest $27,050.16; in fines and e/fect.s. An ideal garment for ed by liaving our profits j ^gping tbe year 2772 sL.’.res of, fees $2,469.20. The expenses of and sportwoar. Newest in any one year so as to ^ jngtaHn,ent stock and 413 sharesloperating the association were as aprfag colors. Only and the earnings show under 6 per, . 4EB.75. — 'Oie Bent Stores. Goodwill #.1 and the earnings show under b per, , a „ 1 follows* Tieoart-' cent it was decided that this re-I of full paid stock, which made a . j isevve should be set UP. and I am I total Issued of 3185 shares. We ' “Interest paid on borrowed (Total - $436,166.47. I “The above statement is a j • very healthy one and one which ^ ' we are proud of and I believe j ! that each of yon will concur 1 ] with me in this. I have endeavor- j ed to siiibmit to you the faats as j they are and in a concise, and I; hope, sensible manner. However, If there are any questions thatj you would like to ask pertaining | to any item of this report or ] anything else that you might be j NATURAL NITRATE J CHILEAN NITRATE IS ONE OF FEW THINGS IN THE WORLD THAT EXCELS BECAUSE OF ITS IMPURITIES. REASON ’IMPURITIES' SUCH AS IODINE, POTASSIUM, SODIUM, CALCIUM, BORON, MAGNESIUM ARE NATURAL PLANT FOODS IN THEMSELVES The only nitrogen fhot comes from the ground. Statement of Condition of the Bank Deposit & Savings At North Wilkesboro, N, C., to the Commissioner of Banks, at the Close of Business on the 30th day of December, 1933 Jr RESOURCES UABIUTIES AND CAPITAL i Cash. Checks for Clearing and Transit Items Due from Approved Depository Banks — - - Due from Banks—Not Approved Depositories , - Cash Items (Held Over 24 Hours) - BontLs in Escrow (For Exemption of Common Stock from As sessment - - - — United State.s Bonds, Notes, Etc. •• - North (’arolina State Bonds, Notes, Etc North Carolina Political Subdivision Bonds and Notes Stock-s and Bonds of Banks Affiliated or Subsidiaries _ . Listed Stocks - Other Stocks and Bonds - - Loans and Discounts—Banks Affiliated or Subsidiaries Loans and Discounts—Other . - - - - Customers Liability on Letters of Credit and Acceptance Advances to Trust - - Ranking House and Site - — Fumiture, Fixtures and Elquipment Other Real Estate - - Overdrafts - - - - — Accounts and Notes Receivable of Insurance, Real Estate and Other Departments - $ 27,083.67 101,925.64 NI»NE NONE NONE 1,060.65 45,290.24 NONE NONE NONE 19,112.50 NONE 341,022.98 NONE NONE 20,000.00 2,000.00 5,000.00 NONE NONE Demand Deposits—Due Banks - - Demand Deposits—Due Public Officials Demand Deposits—Due Others j Cashiers Checks, Certifi^ Checks and Dividend Chedis Uninvested Trust Deposits — - - Accrued Expenses, Taxes and Intent - - - - Time Certificates of Deposit-^Due Public Officials $ 7,313.24 51,327.40 235,271.71 7,015.70 NONE NONE NONE Time Ceitifi«tes of Deposit—Due Others Savings Dqwsits—Due Public Officials ..... - 177 971;« Savings Deposits—Due Others Bills Payable Rediscounts -- Bonds and Other Securities Borrowed - Accounts and Notes Payable of Insurance, Other Departments - - - , - Acceptances and Letters of Credit Outstanding TOTAL LIABILITIBS — R^ Elstate and NONE NONE NONE NONE -.. Capital Stock—Common „ Capital Stock—Preferred ? 0.00 N si^lus—Appropriated for Exemption of Common Stock from Assessment - — — Sundus—Unappropriated Undivided Profits Reserved for Dividend Reserve for Depreciation Fixed Properties Reserve for Losses . . Reserved for Discount and Interest — TOTAL CAPITAL - - NONE 15,000.00 2,818.64 2,400.00 1,4004)0 706^ TOTAL RESOURCES „-$562,495.68 \ TOTAL LIABILITIES AND CAPITAL .^«^5.68 ;TATE OF NORTH CAROLINA, County of Wilke*, m; ^ o i ; v? n C T Doughton, Ca*hier, J. T. Prevette, Director, and C. A. Lowe, Director ol t^ OepMit.^ *7*^1 C. I# ..*.iAw*fW#«reiroinirrwrtistrueto^bertofIiiakticwrtedgei before me tU* day, and, being duly sworn, eadj for himself, says ^ f^going rq^rt C.^^^TCDOUCftTOT*. Owlifar;^; Sworn to and subscribed before me this the 26th day of January, IRENE DIMETTE BARKER, Notary PubUeJ . (My Commission expires Oct. 24, 1(^) : . : 'J;,Tvm>pn’E.Dii««rt
The Journal-Patriot (North Wilkesboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 25, 1934, edition 1
8
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