COUNTRY NEEDS ' : 1
MORE COUNTRY BANKERS. ,
The Express has from time to,'!
tame had something to say about <
,tfce Bank of Broadway, and how t
the busmess is handled by its ef i
ficient cashier, D, E. Shaw. One J
•reason why this bank has attract 1
«d more than passing attention *
, JB that it not only continues to '
%old its own," but continues to 4
increase its business under ad 4
verse circumstances that during *
the past two or three years sent
anany other country banks to the 1
• wall. If the soundness of this 1
* bank has ever been questioned 1
We have never heard of it. The *
following story about this bank *
is from the pen of John A. Liv 1
ingstone, son of W. W. Living 1
* stone, of this place, who was for *
. Several years the Washington *
•correspondent of the News and
* Observer, and who is now xnak *
ing his home in Raleigh. 1
"The trouble with the banking 1
business is there are too many1
countrymen engaged in it,“ Said 4
any friend. j
, “The trouble with banking bus i
iness is there are not enough 1
countrymen engaged in it,‘‘ I c
replied. a
iNUi/ uiui countrymen neces&ar *
ily have more sense than the *
town and city men, but they are i
closer to the realities of life,
.They come in contact with the r
rain, the hail, the sleet, the snow, i
they see nature as she is. They 4
are less ffikely to fool themselves, j
Believe me, the bankers did t
fool themselves during the past i
few years. They manufatured ]
alleged wealth by the simple ex 1
pedient of putting the printing t
presses to work and turning out ]
neatly engraved scraps of paper, j
They thought it was wealth, it a
passed for a time as wealth, and j
then came the crash. i
. When I told my friend that ,
what this country needs is more j
country bankers I was not think j
ing of the country bankers who <
have made good, in New ■ York, ,
Chicago and other great cities. I j
was thinking of country bankers ,
-that have stayed in the country. t
I was thinking particularly of D. ]
E. Shaw cashier of the Bank of
^ Broadway. .’
, Broadway isn't big enough to '
attract any attention from the >
traveler by rail or motor through'
the Sandhill country., I had scar
cely heard of the place until last j
March. When all the banks along
the Seaboard Air Line from Ral
eigh to Hamlet had closed except
at Southern Pines and Broadway,
1 began to make inquiry as to'
Broadway and its bank. I al
ready knew something about
Southern Pines. , |
The Bank of Broadway, which
has been operating in the coun
■ try for a quarter of a century,
was among the first to open \
after the banking holiday. Since
that time it has been doing the'
. banking business for Sanford .
, and other nearby towns. With ,
' in the last seven years five banks
j have gone to the wall in Sanford.
The Bank of Broadway has con1
tinued on its way sereneJy, calm
and sedately. I;
When it was suggested tnav'
„ the Bank of Broadway pull up
stakes and move to Sanford, its 1
Cashier “lowed as how he and his
wife could manage its affairs as .
matters stood. If they moved (
to town they might be tempted
to take, on city ways. If expen ;
ses were increased too much,
then there might be trouble, iw
keeping things mooring along, j
- lest it be thought that Bank I
er Shaw is such a simpjteton that
ihe wouldn't feel at home in a
city, it is necessary to relate a |
little story of a happening not
long since. Two strange men
showed up in his bank one morn
ing. While on engaged Shaw j
in conversation, the other moved
down one side toward the end of
the bank.
The apparent scheme of the two
strangers was for the second
man to avert the attention of
•Banker Shaw while the first man
covered him with a gun, snatched
what money was in sight and,
4; then the two would walk out.
' , Whatever their scheme it didn't I
work. Without taking his eyes
off the first man, Banker Shaw
carefully reached for a pistol
.j* , . Ji
I.- w. ' .■ -- •-«" -.f
mg conveniently near. ,
Without batting an eye Bank
>r Shaw told the stranger that
le could get the information he
wished across the street. Banker
5haw moved carefully backward,
o as to be in position to cover
oth his mem ^ with the gun he
eld in his hand.;* They walked
ut quite deliberately, since it
ms evident that any inadvert
nt step by either of them would
ertamly result in the death of
ne of them. ^ .t
The newspapers-the next
iqrning carried a story of the
obbery of a bank by the two
len who visited Banker Shaw,
qt it was not the Bank of
Broadway. It was a bank fur
her south in which more than
ne person was present at the
ime the money was taken from
he counter.
uasmer snaw s secret oi Keep
ag his bank going is simple. He
ias engaged in the banking busi,
iess, When he has loaned a
tan money he has done so with
he expectation that it would be
aid back. He hasn't engaged
a an investment business or
aaned money to land speculat
rs. If a man wanted to bor
ow money for that purpose,
lashier Shaw sent him some
here else. ‘‘I'm in the bank
ag business," he would explain.
If a man wanted to borrow
aoney to build a home, Banker
thaw would send him to the B.
i L. or to some insurance com
any. If he wanted to. borrow
aoney to buy a farm, he would
efer him to the Federal Farm
x>an Association. These were
ang time loans, and he was n6t
ngaged in that kind of business,
le had to keep his bank in fair
y liquid shape for his money
?as put there by depositors, who
night call for it at any time.
If Banker Shaw got more
aoney on hand than he could
>ut out on loans in the vicinity,
ie might loan it to the county
m a short term note, or I he
night send it to some nearby
tank to be kept on call at a low
ate of interest for it is a prin
iple of his business that it must
lave earnings, otherwise he
vould got oiit of business but al
vays with the understanding
hat it was to come back home
vhen needed.
Lemon Springs News.
Mrs- Nannie Culliers and
laughters, Louise and Margaret,
nave returned to Charlotte after
visiting relatives and _ friends
tiere for two weeks.
Prof- and Mrs. E. P. McLeod
tiave returned from Chicago,
where they attended the World’s
Fair.
- Miss Margaret Hales has re
turned from an extended trip to
Charlotte.
Mrs. C- L. Smith left Friday
for her annual vacaction. My.
Smith accompanied her to Greens
boro.
Mrs- R. L- Seawell and Thomas
Cox are visiting Mrs.. Gabe
Hough this week- .
Prof, arid Mrs. Johnson are
visiting Mrs. Johnson’s parents,
VLr and Mrs. J- J. Edwards
Mr- and Mrs. J- K. McLeod at
tended the home coming at Mt.
Pisgah last Sunday, they report
i nice time
The recent rains are a great
lelp to corn and tobacco in this
VANS**.* i
A number of veterans attended
;he speaking at Sanford from
;his section Friday night.
Mr' Smith eclebrated her birth
lay the 4th Sunday. A large
:rowd, and a pleasant repast
narked the feature of the bcca
lion- All left wishing Mr.
Smith many more such happy
>ccasions.
The people who go anhualy
from this county to Canada to
work in tobacco, hope to leave
next week for Canada.
Mr- and Mrs. Clay Pervis, of
High Falls, were recent visitors
in this vicinity. They reported
good crops in that section of
Moore county
Misses Mozelle Cox,' Virginia
Watson and Grace Thomas are
spending the week in Chicago at
tending the Worlds Fair
Mr. and Mrs. J. C. Pickard and
family and Mr. j. Will ' Wicker
visited Mr. and Mrs. A. Seawell
last week. ■ v
Mr- and Mrs.. J. C. Watson.
Miss Frances Watson spent a
day or two at home last week, re
turning to Chapel Hill where she
is in summer school
Mrs. T- M- Perry was elected
president of the Sunday School
Convention at Cool Springs last
week. Pocket gets the conven
tion next year. " _
WOULD YOU GIVE A
DOLLAR?
if you were suffering from high
bZood pressure, to find a way
that would gradually but surely
reduce it to normal again?;
WOULD YOU GIVE A DOLLAR
if your liver was sluggish and in
active, causing you to have that
run (town, tired, lazy, dont care
feeling,to have it again throw off
the proper amount of bile daily
and give you that new zeal, rarin’
to go feeling?
WOULD YOU GIVE A DOLLAR
if you were constantly bothered
with chronie constipation and
found a way back to normal con
dition through the means of rec
tifying the very cause of consti
pation?
WOULD YOU GIVE A DOLLAR
if you were so bothered with indi
gestion that practically every
thing you ate waa a source of
worry, to find there was a way
to eat what you enjoy and enjoy
what you eat?
WOULD YOU GIVE A DOLLAR
if you were suffering from those
dreadful, rheumatic pains, to
find there'was a safe, sure way
to make those pains gradually
but surely eave you?
In either case you would say of
course I would.
Dr. Foster has worked over
ten years on a prescription and
after its perfection* named it L
K or Liver Kick.) This, pres
cMption is fast gaining the name
of a miracle prescription.
The Foster Chemical Com
pany doesn't claim the impos
sible for L K, but if you are suf
fering from any of the above con
ditions and will give L K a fair
trial in your home and fail to get
the results ' you ■ expect, your
money will be cheerfully refund
ed.
Put, LK to the test and you,
too will call it a miracle prescrin
tion. Sold by
LEE DRUG STORE, Sanford, N. C.
LEE DRUG STORE, Jonesboro,N .C.
BROADYVAV DRUG CO, Broadway.
SPECIAL LOW
ROUND TRIP FARES
SANFORD TO—
Niagara Falls, N. Y.
$30.50
JULY 6, 14, 20, 28.
AUGUST 3, 11, 17, 25, 31.
SEPTEMBER 8 14, 22.
Atlantic City $20.65
ii-yvjf1; ■,?/ '*'W ' ft i: ' :• «v >■ ■
JULY 7, 14, 21, 28.
AUGUST 4, 11, 18, 25.
SEPTEMBER 1, 8, 15. ?
TICKETS LIMITED 18 DAYS
RATES TO MANY OTHER NEW
JERSEY SEASHORE RESORTS
STOPOVERS ALLOWED
FOR INFORMATION SEE
TICKET AGENT
H. E. Pleasants, D P A, Raleigh, N. C
Seaboard
AIR LINE RAILWAY
Mrs. Kate Hall spent last week
at Morris Pond visiting her sie
ter, Mrs. Lettie Morris.
: Mr and Mrs J. M. Rudd anc
daughter, of Greensboro, spent
Sunday with Mr. and Mrs. Johr
[McGilvary, at Hill Top Farm.
Mr- and Mrs. George Miller
'Misses Carphine and Frances, of
Salisbury, Miss Sadie Gadwell, oi
Charlotte, and Martha Miller, oi
Concord, spent last week wit!
QUIET YOUR
NERVES
rr
This Delightful Wiy
A/kRS. Alice Fischer (picture
"•above) says she is “the hap
piest woman in the world."
"I often used to wish I
Was dead. Couldn't sleep;
• couldn’t enjoy myself. It
seems as though I had tried
every nerve medicine made,
but without any benefit un
til I tried Dr. Miles’ Effer- .
Descent Nervine Tablets.
~'T They certainly proved their
worth for me. I am the hap
piest woman in (he world
and I don’t mean maybe.”
Mri. Alice Fischer
Ton Mr, Nervous. SlespW Cranks.
Blue. If you have Nervous* Headaches
Nervoqs IndlgreetJon, take Dr,
Effervescent Nervine Tablets,
£§§ STATEMENT f
UNION CENTRAL life insurance company
^ Cincinnati, Ohio.
Condition December 31, 1932, as Shown by Statement Filed.
Amount of Capitaliz’d up in cash _____:...__* 2,100,000.00
Amount of lodge* AseeU December Slat of previous year._ 81.6,465436.79
Premium Income; *42,665,551.91; Miscellaneous,
*28,392,43944; Total~____:t___
Disbursements—TprPoUcyholders, *58,334455.67; MisceUaneous,
COI 1 fin 715.99: To.l .
*21,180,71549; Total ___
Business) written, dur ng year—Numoer of Policies"
26,621; Amount -
71,057,991.85
■ ■ i
794147971.56
Business in force at end of year—Number of Policies
884,070; Amount ....r_..
- % ASSETS
Value of Real Estate (less amount of encumbrances)
Mortgage Loans on Real Estate ..
, 122421,007.00
- I
■41,419,680,587.00
Loans made to Policyholders on this Company’s Policies
assigned aA collateral ____ _
Premium notes o»,Polides in force (of which. *442430 60
,4 5a for firm pear’s premiums),
Net Value of Bonds' and Stocks_
Cash .....
_„* 37,970,964.06
—. 159,482,457.21
Interest and* Rents dbe and accrued
Premiums uncollected aUt deferred
AH other assets, ai detailed in statement
TOTAL, ...
Less Assets not admitted
— 83473422.68
— 5,912,968.06
— 5,478,372.93
— 3,438,419.01
— 15,690,844.65
— 5,491,073.63
.... 13,160,753.00
....*329494475.16
_ 162478.51 i
Total admitted Assets
4 INABILITIES
Net Reserve, including Disability Provision
-.$329,741,096.65
present value $lfl amounts not yet due on Supplementary
Contracts, etc______
Policy Claims .
_$261,899,370.00
Dividends left with Company at interest .
Premiums paid in advance
Unnamed Interest and Rent paid in advance
Commissions due to Agents
jEstimated Amount,payable for Federal, State
. other Taxes.....
Dividends due Policyholders
Amounts set apart for future dividends
and'
3,795,777.08
2,086,780.17
3,859,115.43
1,108,826191
658,475.82
514,871.18
1,002,716.37
7,006,695.13
26,563.00
32,170,051.11
All oilier Liabilities, as detailed in statement_
Total amount of all Liabilities, except Capital __$314,129,242.25
Capital paid up in Cash--$ 2,500,000.00
Unassigned funds (surplus) ----$13,111,854.40 $ 15,611,854.40
TOTAL LIABILITIES
....$329,741,096.65
Business in the State of North Carolina During 1932
Policies bn the lives of citizens of said State In force
• December 31st of previous year, 10,464; Amount
Polities on thej lives of citizens of said State issued
during the year, 452; Amount —...
Total No. Policies 10,916; Amount ..
..$28,951,221
Deduct ceased to be in force during the year, 1,797; Amount.
Policies In force December 31st., 9,119; Amount .
Losses and Claims unpaid December 31st of previous
year, 6; Amount ...:.....T_
1,981,836
$30,933,057
. 6,331,-649
.$24,601,408
Losses and Claims incurred during year, 99; Amount.
Total Number 105; Amount
Losses and Claims settled during the year, in full, 96;
Amount_......
7,811
242,686
259,497
Losses and Claims Unpaid December 31st., 9; Amount__
Premium Income—Ordinary, ________
President^ W. Howard Cox. Secretary, R‘chard S. Rust
•TVeasurer, H. L. Hodell « Actuary, E. E. Hardcastle
.4228,807
. 21,690
$716,588.83
Home,Office: 3 W. 4th. Street, Cincinnati, Ohio.
Attorney’for Service; Dan C. Boney Insurance Commissioner, Raleigh, N. C.
State of North Carolina, Insurance Department.
Raleigh, April 21st., 1933
I, DAN C. BONEY, Insurance Commissioner, do hereby certify that the
above is a true and correct abstract of the statement) oft the! Union Central
Life Insurance Company, of Cincinnati, Ohio, filed with this Department,
showing the condition of said Company on the 31st day of^December, 1932.
Witness myhandand official seal the day and date above written. * -■
(Seal) i DAN C. BONEY, Insurance Commissioner.
STATEMENT •
SECURITY MUTUAL LIFE INSURANCE COMPANY
*j Binghamton, N. C. l> ViS$SjR38£|
UnndSfiim TV>MMnhA» Ol 1000___ 1__x m.j
-v... Bfngfhamtoai, N. C. • .. y.^‘>
■' Condition December 81, 1932, so ’Shown hy Statement filed. . .,* ’
Afount of Ledger Assets December 81st of previous year —$20,686,649.48
Premium Income, 83,360,737.03; Miscellaneous, $1,162-269.21; *
- Totftl ‘ 4,622,996.24
’J'iM
. Total —. ' "-•■■■ _). •• __• ■
Disbursemtnt*—To Policyholders, $3,201,796.97; Miscelianeoui
$J,319,137.46; Total _
Businemi wrjtten during year—Number of Policies 4,110;
Busjnessjn force at end of yeai^-Number of policies 51,895;
4,520,933.42
"
12,251,476.00
,r , . ASSETS
alue of Real Estatt (less amount of encumbrances)
Mortgage Loans on Real Estate
.102,006,184.00
w ° v** rvcti ujsuute ____ „ ■ ,
oan$ made to Policyholders on this Company's Policies
assigned as collateral .
.$2,575,) 69.70
i 0,269,046.97
m
fM
Premium notes on Policies in force
Net Value of Bonds and Stocks
Cash
Interest anl Rents due and ’accrued .
Premiums uncollected arm deferred
All , 1 -~ ucicireu___
All other Assets, as detailed in statemtnt
. 4,886,534..1
263.799.86
. 6,198,192.09
202,910.64
• 381,899.10
666,815.00
414.933.86
TOTAL
Less Assets not admitted
-121,753,901.83
469,490.41
Total admitted Assets
-$21,284,410.92
LIABILITIES
Present falue of amounts not yet due on Supplementary
Contracts, etc._____ 133,684.23
Policy Claims_____________ 167,897.97
Dividends left with Company at interest _ 253,782.04
Premiums paid in advance ____ 21,256.00
Unearned Interest and Rent paid in advance.........' 8,248.90 ®
Commissions due to Agents ......... 16,194.61
Estimate! Amount Payable for Federal, State, and other Taxes 60,000.00
Dividends due Policyholders ___ 356,913.69
Amoiints set apart for future dividends....... 32,327.61
All other Liabilities, as detailed in statement .._...... 783,916.82 * -
Total Amount of all Liabilities, except Capital..$20,622,182.27
Unassigned funds (surplus) ________ 662,228.65
TOTAL LIABILITIES .....$21,284,410.92
Business in the State of North Carolina During 1932
Policies on tfie lives of citizens of said State, in force December
31st of previous year, 1100; Amount ------_$1,929,402
Policies bn-'the lives! of citizens of said State issued during
the year, 21; Amount...—.... 55,000
Total, 1121; Amount .........$1,984,402
Deduct ceased to be in force during the year,
108; Amount ___ 219,158
Policies in force December 31st., 1,013; Amount_$1,765,244
Losses and Claims incurred during year, 10; Amount... 21,536
Losses and Claims settled during the year, in full, 9;
Amount ......1........... 16,536
Losses and Claims unpaid December 31st., 1; Amount___ 5,000
Premium Income—Ordinary ________$43,582.30
President; David S. Dickenson Secretary, Frank 1C. Grod'nough
Treasurer, Z. Bennett Phelps Actuary, Fred1 N. Bremmen
Home Office: Security Mutual Bldg., Binghamton, N. Y.
Attorney for Service: Dan C. Boney Insurance Commissioner, Raleigh, N. C.
(Manager,North Carolina: J. YV. Forbes, Tarboro, N. C.
State of North Carolina, insurance Department.
Raleigh, April 21st., 1933.
I, DAN C. BONEY, Insurance Commissioner, do hereby certify that the
above is a true and correct abstract of the statement of the Security Mutual
Ufe Insurance Company, of Binghamton, N. Y., filed with this Department,
showing the condition of said Company on the 31st day of December, 1932.
Witness my hand and official seal the day and date above written. ^
(Seal) DAN C. BONEY, Insurance Commissioner.
Q}ea*6omv.iJCiAA/.
until we learned better
Until we learned better, we used to mix wood and steel in our car
bodies and *£®0best way tQ make bodies—then. But the state of the art
^ of^Srse it is more expensive to make an all-steel body than to
make f Jooden'frame and nail steel panels on to it. The better way in
volves an initial expenditure of several millions of dollars for new dies.
iSch renders a change very costly. Cars, especially large expensive cars
! £ are produced in small volume, cannot afford this, because the dies
c£ifas mu^ for one car as for a million. That alone explains why all
etspi bodies are not used in all cars. ,
But our basic policy from the beginning is to make a good oar better.
^^Ff/exaSpl^^hen we discarded wood-steel body construction. it was
not because we lacked wood. We still have some thousands of acres of the
best hard wood in America. Economy would urge us to use up the wood
S?£ta£d?£en adopt the better all-steel body. But we decided that
STinst. before .. -d. the oha»?.
We could see only one reason for retaining a mixed wood-and steel body
-nailingthemetal on. instead of welding an all-steel body into a
stronz one-piece whole. That reason was, it would be cheaper for us.
Hr reasons for adopting an all-steel body were these: A wood-steel
bndv is not much stronger structurally than its wooden frame. In a11
American climates wood construction weakens with age. Every used car lot
Rain snaps in bat.aan joints and tha .cod daoMS.
A car may have a metal surface, and yet not be of steel construction.
Under extreme shock or stress the steel body remains intact-dented per
™ofn«d .ood for strength or protection. Rood is fin. for
furniture but not for the high speed vehicles of 1933. te.
^ In the Ford body there are no joints to squeak, no seams to crack.
°r 1The’all-steel body is more'expensive—to us, but not to you.
By all odds, then, steel bodies seem preferable. Mactricallv
Wheels also have become all-steel. No one argues that an electrically
welded one-piece steel wheel, such as the Ford wheel, needs to be
'''3trSf“”pLS SS&St&U’tti strongest, safes., latest. ..St
.durable body made. That is Our only reason for making them.
August 7th, 1933