BREVARD NEWS, BREVARD, N. 0.
Public
Accounlant
Elxpert Auditor
Periodical audits, books
closed and financial state
ments rendered.
Books opened for new
Corporations, Firms
or Individuals.
Audits for Banks and Pub
lic Boards and Commissions
a specialty.
References: - All Asheville Banks
D. G. DEVENISH
Phone 1236
ASHEVILLE, N. C.
Reikort of the Condition of
The Brevard Banking Co.
at Brevard, in the state of North Carolina,
at the close of business. Doc. 27. 1916.
RKSOURCES
Loans and Discounts $3(»9,016.72
Overdrafts 1,601.12
Furniture and Fixtures 3,5(H).(M»
Due from National Banks. ... lr',042.10
Due from State IJanks and
Bankers 4!,939./5
Cash Items 7,839.93
Gold coin 622.50
Silver Coin, including all
minor coin currency 701.49
National bank notes and other
U. "S. Notes S.289.0U
Total $418.552.()1
!,l.\niI.lTlKS
Capital stock paid in $ 100,1)00.00
Surplus fund 5.0.10.00
Undivid'-‘d profits, less current
expenses ami tuxes paid 7.77.'>.91
Bills payable 2.'i.UOOOU
Deposits subject to check 193.711.18
Time certiticati s of deposit... 113,723.69
Cashier’s Checks outstandinj; 2,090.49
Certified Checks 1,248.31
Total $448,552.61
State of North Carolina,
County of Tran.sylvania.
January 9.1917.
1, Thos. H. Shi!’M.\n, Cashier of the
above named bank, do solemnly swear that
the above statement is true to the best of
my knowledge and belief.
THOS. H. SHIPMAN, Cashier.
Correct—Attest:
R. R. Deaver,
VVm. P. Weilt.
Directors
Subscribed and sworn to before me, this
9th day of Jan., 1917.
Welch G.m.i.ow ay.
Notary Public.
BETTER
Sheet Metal
WORK
Any kind of Roofing,
Guttering or Conductor
Work, Metal Ceilings, Sky-
Lights or Galvanized Iron
Cornices. Best qualities and
reasonable prices.
Factory and public build
ing work a specialty.
T. P. JOHNSON
& CO.
69-71 Biltmore Avenue
Asheville, North Carolina
A NEW SUIT
COSTS FROM
$10 to $50
Your old suit
can be cleaned,
pressed, repair
ed and made to
look almost as
good as new for
50 cents; $1.00 a
month for four
suits.
FEN YEARS OLD; GROSSES
THE CONTINENT ALONE
Ward Estes, son of Benjamin Es
tes of San Bernardino, Cal., who is
isitini' his annt, Mrs. O. VV. God-
rey, holds the unusual distinction
)f having traveled across the Unit
’d States alone, although only a
rtd of ten years. He left San Ber
lardinolaat Tharadfiy and made the
rip safelv withoat being tiiuged or
•Ih»lrd. making his own way and
oban^ing at Kansas City, St. Louis,
\sh*ville aiul Hendersonville, ar-
ivingin Brevard Monday night, 24
lours earllor than fxi)e*ted.
7.]
RU3 OUT PAIiN
with good oil liniment. That’s
the surc^i way to siop them.
The bcit rv.Lij:nj liniment is
sv i- hi;
11^ w i u.
Good fcr iJ's Ailnicr.is of
Horses, iUules, Cattle, Etc.
^ Qood for ncizr oii'n A chcs,
Paans, Rhci.:r:;atism, Sprains,
Cuts, Burns, Etc.
23c. 50c. $1. .At ull Dealers.
Beware of Ointments for
Catarrh that Contain Mercury
as morrury will surely dfstrny the senso
of siiifll and coiiipletfly the
wholo system whon entering it tlirouKli
tl;«- min'ous surfaces. Sui h arti l ;5 slumhl
lu'vor ho list'd fxropt on prescriptions
from ropiitabl.* pliysioians, as the
tli«*y will 1) is ;•••' fold to the good you
nn pr.s.vihly d. rivi- r~'>ni I hem. Hall'.s
('alarrh t'nro. niar.tirai'tnrod by F. J
(’litnoy & t’i'.. Toledo, )., oontains no
mcrt'iiry. is taUon int'rnally, actinf;
ilin otly upon the blood and mucous sur-
facos of tile system. In buying Hall’s
'atarrh Cur.' be sure you p^t the p iiu-
inv-. It is ta!;* 11 iiitcinally and r.iade in
Toleilo. Ohio, by K. J. Cheney & Co. Tes
timonials flee.
Sold l>y l)ruPKists. Price 75c per bottle.
Take Hall's Family Pllla for conaiiyution.
Purpose and Workings of
Federal Farm Loan Act
Converts Farm Tenants Into Owners; Makes Them
Independent Instead of Dependent; Profitably
Employs People*s Savings in Building Up Their
Own Community; Organization Meeting to Be
Held in Brevard on January 22.
[By Professor T. C. Henderson.] loan committee, signed by all three
„ , J L e nuMubers, ninst be sent to the fed-
Every law enacted by the congress of articles
the Uniteii States or by a state legislature assooiation. With these must also
for the benefit of mankind is a “dead let- j,0 the list of proposed membi*rs
ter” unless it is taken advantage of by and an affidavit signed and acknow-
those in whose interest it was enacted. | ledged by the members. The alli-
The Federal Farm Loan Act which was set forth that each
,, , » I J , subscriber is the owner ot f**rm
passed by consrcss last June and rcceived
l>re»idcnt W.lson s approving sisnature on ,
July 17, 1916, if taken advantage of by the ^ loHns added together amount to
farmers of the country, will do more to $20,000 or more.
bring permanent prosperity to rural com-1 f^aernl land bank which re-
munitics and improvement in rura i e application for loans and
conditions than perhaps any other act that 1 jjtjiyj. p,qiers from the association
has ever been passed by congress in the j then senus an hpi)rtiiser to examine
history of this nation. It is based pri-j the land and the flnnncial condition
marily on helping the individual farmer j of the proposed borrowers. If these
to help himself by means that arc sound I t'onditions are found satisfactory,
fconomicilly and and SKially.srounded in j |™nk fowanls the pa|)Br8
,.. , ^ , - . . , „ federal farm loan bpard with
selt-mterest and tostcred H »" 1 ,i,eir recommenl«tioi>. )n approvnl
one of its underlying principles being the : ,,y federal farm loan hoard, a
encouragement of the co-operative idea. | charter is granted to the applicants
The act provides for a federal farm loan j to do business as i)er the farm loan
board, twelve federal land banks and an
indefinite number of national farm loan
associations.
The farm loan board is composed of the
secretary of the treasury of the United
States as ex-officio member and chairman
and four other memliers. This board is
non partisan, as the act provides that not
more than two of the appointive members
shall belong to one political party. The
salaries of the members of the board are
to be paid by the United States. It is the
duty of the farm loan board to direct,
supervise and control the opeiation of the
law.
The twelve federal land banks are locat
ed in different sections of the United
States, in such towns as in thejudgement
act.
AT YOUR SERVICE
When the charter has been grant
ed the association can borrow
money of the land bank. The mort
gages are then prepared and de
livered to the secretary-treasurer
of the local association, who for
wards them to the federal land bank
of the district. On its part, the
land bank sends the money for the
loans to the secretary-treasurer of
the association. He in turn delivers
the proper amount of money to the
respective borrowers.
All who borrow under this .syst«m
must subscribe for one share in the
fedi ral land bank at !?.■> a share for
t'very 1^100 he wishes to borrow.
The amount that is paid on stock
will be returned when tha mort-
of the farm loan board will most advanta* | ga^e is paid olT and the stock can-
geously serve the farm-loan needs of the i celled. The borrower then ceases
to be a member of the association.
No one can borrow less than $100
nor more than ^10,000, tor a period
of not less than live yi;ars nor more
than forty years. No one can bor
row more than .'»0 ])t*r cent of the
! appraised value of his land and ::'0
' jier cent of the value of the |)erma
whole country. The stocks in these banks
that is not subscribed for by the farming
public is taken by the United States gov
ernment. As the subscriptions to the
stock by the national farm loan associa
tions increase the j^overnment stock is
gradually paid off and retired. “This is
essentially a farmers banking system, and insured improvements. The
the law contemplates that the farmers | qj- jnteiest ])aid on loans can
shall eventually own and control it.” Each never exceed (> per cent, and may
of the twelve land banks must start with , be considerably lower,
a capital stock of $7.S0,000. Additional: becoming subscribers to the
money for lending is secured by automatic I stock of the federal land
increases in capital stock and by the s.ile ^ ])ank of their district, which the
of bonds. When a bank has loaned $50,000 associations have to do when appli-
and taken from the farm loan associations
$50,000 worth of first mortgages, it may
then issue $50,000 of bonds against these
mortgages to produce another $50,000 to
lend to farmers. This process is repeated
over and over until the capital of the bank
cations for loans are made, the
farmer members of the national
farm loan associations will ulti
mately become the owners of the
land banks also, for the govern
ment gradually withdraws its stock
holding from the federal land banks
is turned over twenty times. If the capital j leaves their ownership with all
of the bank were limited to $750,000, the
bank would have a loaning capacity of
$15,000,000. But the law provides for the
automatic increase of the capital of the
bank because each national farm loan as
sociation is required to buy stock in the
bank equal to 5 per cent of its loans. Since
the bank is permited to lend twenty times
its capital, it will be observed that as
$1,000 is added to the capital, the loaning
capacity is increased $20,000. The ratio
Our Modern, Well Organ=
ized and Carefully Stocked
Prescription Department.
Physicians, nnrses and patrons
favorably comment on our careful
work and prompt deliveries.
R. S. MORGAN, Druggist*
ROSMAN. N. C.
City Pressing Club
J.E. Waters I p_„
P.L. Bruce
BARGAINS
In Buncombe Lands
60-acre farm, 8 miles from
Asheville, $3,500.
16-acre farm, $1,200.
West Asheville property,
improved and vacant, on
terms to suit.
City property of all kinds.
Write or call on me.
S. D. HALL
REAL ESTATE
Electrical Buflding, Opposite P. O.
64 Patton Avemie
AshevQle, N. C.
between the capital and the loaning
capacity remains always the same, and
there is no limit to the capacity of the
hank to serve the needs of the farmers, so
long as it can sell its bonds.
The most important nnit of this
entire banking system is the na
tional farm loan association. It is
the door through which the borrow
ing farmer enters into the benefits
of the system. It is the co-opera
tive agency which gives the ma
chinery for borrowing and invest
ing, and for protection against loss.
These associations may be organized
in any school district, township or
coiinty, or in any community or
section of country where there are
a sufficient number of interested
farmers to form such an association.
They are to be composed of at least
ten farmers who are the owners or
are about to become the owners of
farm land. If more than ten get
together for this purpose, so much
the better.
When a meeting is held to orga
nize a national farm loan associa
tion, a committee is appointed to
draw up “Articles of Association”
which must set forth the object of
the association and the territory in
which it proposes to do business.
The farmers uniting to form the as
sociation sign the articles, a copy
of which is sent to the federal land
hank of the district. A board of
directors of not less than five mem
bers is elected. The directors elect
a president, vice-president, loan
committee, and secretary-treasurer.
Thus a temporary organization is
formed.
The loan committee, elected by
the board of directors, must ex
amine the farms and farm lands of
those who have made application
for membership in the association
for the purpose of appraising the
valae. The written report of this
their jirofits entirely in the handt
of the farmers themselves.”
By this Farm Loan Act, a great
o])portunity has been opened to all
farm owners in this country. The
government has ])lacod its money
and its moral support at the com
mand of the farmers. If they will
now get riehind the system and take
advantagi? of it they may reap its
I full benefits. "The federal farm
mortgage credit system thus be
comes a field of unlimited promise
to American agriculture.”
(Editor’s Note;— The farmers
who indicated .i desire to join the
association, and any others interest
ed, will meet in Brevard at 10:30
o’clock on Monday, Dec. 22, for the
purpose of organizing. The News
last week gave the names of those
who exprcised a desire to join.)
BACKACHE IS DISCOURAGING
But Not So Bad If You Know
How to Reach the Cause.
THE UNIVERSAL CAR
FOKD CARS REDUCED
Roadsters Reduced $45.
New Price $373.50.
Touring Cars Reduced $80.
New Price $388.50.
May get higher but gtiarantecd no lower within a
year. LET US SELL YOU ONE NOW.
KING LIVERY COMPANY
For results try a Diversified ad.
Nothing more discouraging than
a constant backache. Lame when
you awaken, pains pierce yon when
you bend or lift. It’s hard to work
or to rest. Backache often in
dicates bad kidneys and calls for
prompt treatment. The best rec
ommended remedy is Doan’s Kid.
ney Pills. Profit by this nearby
resident’s experience:
Mrs. J. Brown, Garden street,
Marion, N. C., says: "I had ner
vous and dizzy spells and back
aches. My kidneys were also weak.
I used Doan's Kidney Pills and they
strengthened my kidneys and back
and made me feel better in eyery
way.”
Price 50c, at all dealers. Don’t
simply ask fora kidney remedy—
get Doan’s Kidney Pills—the same
that Mrs. Brown had. Foster-
Milbnrn Co., Props., Buffalo, N. Y.
New or renewal subscriptioos
(besrinning January 1) wMl cost
$1.00 for one year, 60 cents 6
months, 35 cents 3 months, 25
cents for 2 months.
FLOUR
US£
CURS
HEN you hear your neighbor say that "So-ancl-so** carries thff
finest grade of flour—the kind that makes good bread and
good cakes—you naturally get interested. Flour is the most
unportant article of food in the household. We carry
only brands that have stood the test of years and
that we can fully vouch for personally.
COX 6c KILPATRICK
Phone 41
m
Boy theBest Shingles
the market offers if you want the
worth of your money. Cheap grades
mean early repairs, and frequent re
pairs cost heavily in the long run.
Come and See Us
when you are ready to buy shingles-*
whether you want them in asbestos, metal,
slate or wood. As experts, we will honestly
tell you what material is most suitable for
your purpose and show you how to buy
economically.
Satisfaction in Price and Quality
Guaranteed to All Buyers
Brevard Lumber Co.
Near fjO Depot*
TeleDhone No. 120
Buy From the Merchant Who Advertises.