North Carolina Newspapers

VOLUME XXXVI Number 13 FATE OF BANK TO BE DECIDED TODAY AT COURT HOUSE meet; Revised Plan of Agreement To Be Presented To the Stockholders DEPOSITORS COMMITTEE I MET WEDNESDAY P. M. p*iundrcds Expected to Attend Gathering ? Success Pre? I dieted for Movement Meeting at the court house this Thursday afternoon at i o'clock, stockholders in the closed Brevard tiankifig company will make effort to arrive at some agreement whereby ti! institution can be re-organized, '?] re-opened and business resumed. All i interested citizens have been invited | by the stockholders committee to at- i I ml the meeting, and belief is gen- i e: ; that some plan will be adopted i at this ! athering for relief of the j situation which has existed here since j December V.6, when the bank closed its , doors. j| It is believed that a large number !] of men and women from all sections | of the County will attend the meeting. . I'vae! ically all citizens of the county ( are directly interested in the matter, ; either as stockholders, depositors Ot ] debtors. Plans under consideration >' ??? 'j organising and re-opening the old t bank call for the stockholders placing | at least :r>.0U0 tit cash in the re- | organized institution, while the <le- \ II.,.- nors wil Iset aside 30 per cent of k their deposits to be used in the cap it ii and surplus fund, the remaining f 70 per cent being "frozen" for a given t period of time. As notes held by the , bank are collected, depositors are to \ receive ten per cent of their deposits t as rapidly as collection of notes will i warrant payment of the ten per eentjt blocks on deposits. Under this pljin, ?( the depositors are to receive their 70 t per cent within from three to live 1 f y? is, and the remaining 30 per cent j a ; ? i ; i ; thereafter as possible. Inter- ; f est is to be paid quarterly on these p deposits while remaining in the bank. s The only alternative to this plan of I re-organizing and re-opening the old n bank is the organization and opera- s tion of a new bank, leaving the old v institution to be liquidated. Under o this plan there is no way on earth of s estimating how much, or how little, t' the depositors will receive. It all do* a pends upon the ability of those who n owe the bank to meet their obliga* v tions. Until conditions improve these t pay iih in ( n notes will be slow in the I same degree. a It is easily seen that a majority of o int> >e >1 p.Miple favor the plan of a re-organization and re -opening the f old bank, convinced that through this e method the depositors will receive , a more moitty than through any other , v plan. Hut this is one instance where f a majority does not suffice. It takes o unanimous action to re-open the old n bik ???'< i it - win so many neople' b are urging calm deliberation of the v <1 ,i ? :i. earnest consideration of 1 ,.\ m ohiise of the question, discus sion without heat of argument, and ? sincere action, based upon full kttowl- s , !???.??? itidlng of the fact that the whole future of this commun- i ity depends entirely upon the decis- c ion made at Thunday's meeting. * i_.. i I, a to Wedimndny n.'teiilnt.n the Dp- P poc . , / Committee h?ld a meeting, prer; >1 a orm of an -Agreement to < present to the Stockholders' meeting ' on Thursday afternoon, and addressed ?' a letter to the stockholders, as fol- x lows ; Brevard, March 28, 1031. Stockholder's Committee of i Brevard Banking Co. Brevard, N. C. Gentlemen: i' Please .find attached hereto a prop osition for re-opening the Brevard, Banking Company on or before May 25. 1931. :i tFhe Depositors Committee after < " cons interruptions and disagree nts and irreconcilable objections j in' i !>? -i <J by various parties and in terests have at least reached an agree ment whereby we are instructed to submit to you for your advices, and immediate action upon the herewith 1 , proposed plans. . v.. i me ooi'iisilly invited to consider ( ' ..Continued oil back pnyv) : BIG SNOW WINTER'S LAST GIFT TO TOWN Old Man Winter swooped down up* on this section last Saturday, and in furious manner said good-bye until next November. There was wind, rain, and then snow ? a great, heavy | snow that weighted down and snapped teknhoni wires and power wires in j many sections of the network Cover- ! ing town rn<l county. Forces of men worked Sunday, Sunday ni?ht and, Monday in restoring service, and but . little inconvenience was suffered be cause of the rapidity with which re- j pairs were made. ? The fury of the storm broko as ? suddenly as it came upon the scone, j All week has bden fine, and nil evi dences of the sfcorm are gone, except on the peaks of some of the high mountains where snow can still bo seen. FRANK L STEVENS URGES RE-OPENING OF BREVARD BANK Owner of Franhlin Hotel Pre sents VieWs in Vexing Problems HEAVY DEPOSITOR AND LARGE TAX PAYER HERE Expresses Belief That Deposi tors Will Get More Money In This Way Mr. Frank L. Stevens, owner of thr Franklin Hotel and one of the larger tax payers of the county, ex presses hope that plan may be made whereby the Brevard Banking com pany can be re-organized, and re setted. Mr. Stevens, said to be a llOavy depositor in the bank, express ss opinion that much more can be realized through re-opening the old i>ank than in any other way. Following is copy of n letter wi'lt :eh by Mr. Stevens to a friend in Bre vard, permission to publish having jeen obtained through a wire sent to Mr. Stevens: "I was much interested to read in ;ho current issue of The Brevard Slews, that a meeting of the stoek ioldei'8 of the Brevard Banking Co. md been called to take place on Uareh 2t)th next, to discuss plans ? for the reopening of the bank. The act. that the State Banking Depart ment was willing to submit a plan, vhieh would enable the bank to re unite business should encourage every tuck-holder and depositor to join 'orces and do everything possible to 'each an agreement. V Banks in any ommunity are like the blood in our oins. As long as a bank is open here is continued circulation of noiiey. close it and you slop every Ititig. There is nothing, that more hnroughly paralyzes a community han a bank, that has ceased to unction. The closing of the Brevard iatik has already, perhaps un ivoidably, cost your county consider- i bio money. From a stock-holder's , . tandpoint, if the hank is forced into t iquidtttian each stock-holder will bo " issessed the amount of his or her * tock holdings, the money from which j fill be more than spent in the cost , f liquidation. From the depositor's tandpuint, if liquidation is forced, lOteS due the bank must be collected | nd their security thrown 011 the : larkot for what it will bring, which 1 .-ill only be a small percentage of \ he amount represented by the notes. ! rohi the tandpoint of those, who | re indebted to the bunk, the result ic f enforced liquidation will be to have ;c II their resources put on the market \ or what they will bring in many I' ases completely ruining them. From ny viewpoint enforced liquidation 1 rill be disastrous for stockholder.de- I insitor, and debtor alike. The cost 1 f liquidation will consume the entire s ssets of the bank. Your money will ) e spent in salaries and lawyers fees c ilthotit helping depositors or stock- \ lolders In any way. From a sellish t tandpoint there is nothing to gain tul much to lose. T1 a is no tittle for v elfish motives, personal animosities 11 1 pri indices tn interfere with what 1 s so obviously for the general welfare j if the community. Every day that ! j 'oil delay reopening the bank is cost- ( 111: money, that will do nobody any j (00(1. 1 hope your stocK-|iolders next ! ?, Phursday may see the Imperative no- , e itv for quick and concerted agree nent. that the bank may be reopened j ? md may become in the near future j vhttt it has been for ninny fears past, j ^ he best bank in any town its size in ^ he whole country. FRANK L. STEVENS.;, ^ewivan, Ga., March 19. | j '.AUIRS' NIGHT AT KIWANIS 1 CLUH TlltS THURSDAY NIGHT 1 '( t Kiwanians will entertain at the i neetlng this Thursday evening; with N leiebnstion of "Ladies Night." Wives I j >t' the no tubers of the club will be |j quests, the meeting to be held at the j i-lngland Home, with Mrs. W. It. . Harris. An unusually fine programl] has been arranged, and it is expected!, that a most interesting meeting will i i be hold. !( SUPERIOR COURT TO 1 START HERE MONDAY Superior Court convenes here next Monday morning, with the criminal docket to be first on the program, after which a large civil docket will keep the court and lawyers busy for some time. Judge Hoyle Sink will preside, and Solicitor J.Will Pless Jr. will be here to represent the State during the trial of criminal cases. One murder case is on the criminal docket for trial, being that of the state against. Mark Gentry, charged with the murder of Claude Mason. Gentry has been out on bond Mines the preliminary hearing, and will, it is believed, plead self defense. Many case of less Importance are on the docket. Much interest centers about the work which the grand jury will do next ?>. . v. i v' ii!/, 1 ?. ?" imany quarters that startling develop jments will come fro?i the action ?f I that body. THURSDAY'S MEETING TO HAVE AN EVERLASTING INFLUENCE ON LI^E OF COMMUNITY . This Thursday aftcrnooh a meeting is to be held in the County Court House whibh will, in a very large meas ure, determine the future of this community. It is a meeting of greater importance, perhaps, than any other gathering ever held in Transylvania county. It is a meeting that will; have direct bearing upon the life of every man, womajn and child in Transylvania county. It is a meeting that will, determine, once and for all time, whether or not it is possible to re-open and re organize the Brevard Bank. It is a meeting called by and for the stockholders in the Brevard Banking company, to which all Interested , people are invited. It is a meeting at which the spirit of Jesus Christ should be the dominant influence, and the Goldtn Rule should be accepted as its Constitution and By-Laws. It is a meeting in which there is no room for selfish deeds, acts or words; nor should there be any semblance of petty jealousies, personal Quarrels or political clique clashes. It is a meeting that should challenge the very best there is in all of us, and bring to the surface every particle 1 of patriotism and community love that we possess. It is a meeting in which men should appear with ' heads bared and bowed in an attitude of humility and reverence, for those attending will, indeed, be standing in a Great Presence. In this meeting the interests of all mankind in this 1 community will be at stake, and wherever humanity is J concerned, there also is the Grjjat Presence. , A bank, as such, is not a sacred institution. But a 1 bank that has been closed, locking therein all the savings of a lifetime of many men and women ? savings which were slowly piled up through hard work and constant sacrifice in order to have something for old age ? presents a task that is sacred to those who have the ability to re open such closed bank. No higher duty was ever placed upon the men and j .women of a community than that of attending the meet- j ing this Thursday, and lending influence and aid to the !' task of relieving the situation existing here. 1 We have utmost confidence in the ability, integrity, i patriotism and purity of motive in the citizens of this com- i munity, hence we confidently expect to see action taken j at the meeting this Thursday which will unite all forces j in the one high and holy purpose of restoring community ii prosperity and re-establishment of community confidence, h SUGGEST DR HARDiN ; FOR MAYOR OF TOWN! humored That An Outstanding Woman May Enter the Race L)r. Carl Hardin, popular dentist if Brevard, lias been suggested as a nndidute for the office of mayor, vitli the following as running mates or places on tlje board of aldermen ; j William Wallace, Willis Brlttain. 'at Kimzey, Clyde Ashworth and S.I it. Mac lie. In this line-up is inelud d one name that has already bo n uggested for the office of mayor, Mr. iViillnce, while two present members if the board, Messrs Atactic and Ash vorth, are named in this suggested icket to succeed themselves Friends of Ralph 11. Ramsey, vhose candidacy has been urged foi i long time, have announced that Mr. iamaey has agreed to maku the race f it is their desire that he do so. It s definitely staled that he will be in he race. Many friends of Mayor T. W. Vhltmire are urging him to become t candidate in this contest, but no un louncenient has as yet been made by Ur. Whitmire. It is believed, how iver, that Mayor Whltmiro's nanr vlll be on the ballot in the primary rotlng. A group of citizens are said to be miking effort to obtain consent from I. S. Bromfield to present his name 'or mayor, expressing in the state nent that Mr. Bromfield's business md executive ability would be of jreat value to the town in this criti cal stage. Rumors hifve been going the rounds :hat the name of a woman would be iled for the office of mayor when the ists open for formal notification. The ady in question is one of the most ictive leaders in the women's groups. In event this presentation is made, jnd the lady becomes a candidate for l he office, unusual situations and alignments will be in order. Registrars will be named next week :ind a formal coll made for holding Lhe primary, which is to be held in the last days of April. LESPEDEZA BEING GROWN IN COUNTY (J. <4. Glazcner, Agri. fmt rnctor ) The fact that many farmers in dif ferent sections of the county are planning !.o grow from one to ten acres of Korean Lespcdeisa Is a very fine indication that this county will soon be producing all the hay needed in a Live-At-IIome program. Fol lowing are already making plans tc grow some this year: C. F. ? Woodfin, Ralph Woodfin. Houston Glimmer, (Had Whitmire Judson Mcece, Charles Pickelsimet and T. G. Miller. Mr. Woodfin hat already purchased 22G pounds of cur titled seed. He is planning on sow ing tut or mine ue ? ?? An article on producing Km n? Tipspedcita will be published in Th< Btevard News next week. MRS. SHIPMAN SAFE 'IN WYOMING TOWN Sheriff Patton Locates Brevard ] Woman Who Was Miss- j itig for 21 Days 'I Relatives and l'riends of Mis.'l< Norma Shipman were made happy I last Saturday, when Sheriff Patton j received/ word that she was safe in , i New Castle, Wyoming. Mrs. Ship- I man had not been seen by any one ,i here since March first, and fear wu. < felt for her safety. Intensive search j I was instituted by the sheriff's office, j' at the request of Mrs. Shipman's rel- 1 atives who were growing more flan tic as day succeeded day and no word ' ;Was forthcoming from the missing I woman. | The newspapers, through The As sociated Press,, carried news ai'tich about the missing woman into evury 1 'section of the United States. Many 1 radio stations put the story on the air, and this publicity was most help-! 'ful to Sheriff Patton in locating Mrs. 1 Shipman and the two young men wh> I had left here shortly after Mrs. Ship- : man's disappearance. Because of tlw 1 peculiar and secretive manner of her ''I going, being followed within one week by the two young men, it wu . feared that Mrs. Shipman had been !< murdered, or was being held a oris- J (oner in some secluded place. War- 1 rants charging the young man, Joel Bradley and Happy Brown, with ub- j ductlon had been sworn out, but these have been withdrawn since word has ; ben received from Mrs. Shipman, She | and the two young men are said to be I i visiting Brown's sisters in the Wy- 1 oming city. In the reaction of the relief felt | hero since it is found that Mrs. Ship- 1 man is safe und sound, there uro : some citizens who have expressed the ' opinion thut all of the publicity about her disappearance was simply a ease of much ado about nothing. Relatives meet this statement by saying that lone should take the matter home to himself what he would do if his sit ter should be missing, under peculiai and suspicious circumstances, and day should follow day with no word from her. Relatives and friends have express- 1 ed keenest appreciation for the ser- 1 vices rendered by Sheriff T. E. Pat- 1 ton, Jr., Deputy Sheriff T. S. Wood, j I'he Associated Press and all the newspapers and radio stations which 1 assisted in the search for and location of Mrs. Shipman. [ REV. PAUL HARTSELL AT MILLS ItlVER HIGH SCHOOL j Rev. Paul Hartsell, pastor of Bre ivard Raptlst church, preached the 'baccalaureate sermon to the gradua tion class of Mills River High School on Sunday afternoon. Rev. Mr. Ilart 1 sell used as his theme "Service" in ad monishing the seventeen members of the graduation class to go forth into the world with the aim to serve. Quite n large number of patrons and the ; chool wore nr?nnat f,v ijthe service, and many complimentary ? irpmnrks were heard concerning the [timely sermon of Mr. Hartsell. GARDNER OPPOSED TO SALES TAX IN ANY FORM WHATEVER Cannot Justify Removing Bur den from Property to Place It Upon Factory Workers SUGGESTS RIGID ECONOMY IN OPERATION OF SCHOOL Suggests Raising Revenue for Schools In Way Other Than the Sales Tax Plan Hrevard Newt t Bureau Raleigh, March J5 Governor 0. Max .Gardner, in a radio addresB here Tuesday afternoon, 1 expressed opposition to the proposed sak'B tax bills, and in emphatic Ian- ' guage declared that the state of North Carolina should not resorl to , taxing the poorest puople in the : State in order to carry on the school work. The governor's address was plain and to the point, excerpts from the speech being presented herewith : ' High Light* hi Governor's Addrmx "I did not discourage the passage Df (he MacLcan bill because I enter-' tallied as much anxiety as any mem- j bet nf this General Assembly to light en the burden of property taxatioil in the state. And if thfc General As-' ?pi bly could, within the realm of i-< onable taxation, find the revenue to sustain the Mac Lean bill, I was ready to give my full support to it " "I do not see how we could justify h tax reduction on the factory by im- ; t ng tax on the purchases of it1-' i, ah r. That is the distinctive char- , icteri'tic of sales taxation. It assur edly - tb no average relief for the ; ivert. ? property owner. It relieves I .hese whose ownership of property is I well above the average and gathers' from those who are below the aver- 1 igc or who own no property at all. 1 im unalterably opposed to that prin :iple of taxation, and to any logis- ' lative progiam that finds it necessary ' .o sustain it '' "This position of opposition to the =ales tax 1 take as a definite fiscal , ind economic policy, and as a mattei ! ! jf principle. In taking it, I have no j Irsire to invade the responsibility ol |, ;]it> legislative brunch ol' government 1 ] iy atti ypting to^set up your revenue |; measure in detail, except that I do j ,vish that no poiicy and no line of j , iction be adopted which is inherently j] jnfair oil the one hand to the con- ' turning public, or on the other to nnj egitimate and helpful business or in- 1 lustry that is making its contribu- ' :ion to the welfare of our stute ' j: "I recommend that you enact much of additional taxation as ynti j lind to be reasonable outsire of the ' ( sales tax field, and that, after taking Mire of the necessities of v the state I' government RUch additional sums be:, used for 'direct reduction of the nub- j lie school tax levy " I "It should be remembered that the j< 1 Continued on bock pige) PISGAH MILL OPENS ' FOR WORK MONDAY Superintendent II. E. Erwin an nounces that nil is in readiness for'i Actual operation of the Piggah Mill . beginning next Monday morning:. . Much repair Work has been done, and the mills have been cleaned in thor ough manner. By the end of ner.t week it is hoped to have a full foivi 1 of operatives at work. First group- : will begin work Monday morning, j other departments being started up ix. the work makes progress. While many people have been cm-' ployed at the mills during the past three weeks in cleaning up and if. , making repairs, the real work begins 1 Monday. JOE CLAYTON TO BE WITH SPARTANS Joe Clayton, Brevard's basejbali ' idol, will play with Spartanburg this season, he having been farmed out by i the Southern League which is not | playing this year to the South Car- : olina city. Friends and sport followers in Bre vard of the local inlielder, while re gretting the fact that Joe will have to start in one of the minors this I season, are confident that he will "go . up" before the summer is over. Joe j made a good record last year in the ? Southern League, whore he rated high ! in his double and triple plays and ; batted along with the 300's. MARSHALL MASONS COMING I TO BREVARD THIS FRIDAY _ ] Many Masons arc coming to Bre- j vard Friday evening for the purporo of exemplifying the Master's Degree at Dunn s Rock Lodge. All members I of Dunn's Hock Lodge are urged to [attend the meeting and meet the Mar shall Masons. It i^ said that Marshall ' hns ei excellent degree tea'.", ;anu uie work none here will be gnat I ly appreciated ?by Dunn's Keel; mem I bers. SALES TAX WOULD TAKE FROM COUNTY $28,767 ANNUALLY If Adopted, Would Cost Each Person $3 Each Year, It Is Estimated BUT COUNTY^VOULD GET $60,321 FOR THE SCHOOLS Larger Counties Would Receive More from State Than They Would Put In lirevurd t\ewn Bureau Ualcigh, March J 5 About 15 of the larger North Car olina enmities would get more money out of the state for operation of the six months school term under the so called Mac Lean plan than they would pay into the treasury under the gen eral sales, tax plan which accompan ies it, while the remaining 86 coun ties would pay more under the sales tax plan than they get back if tht state takes over and operates the si* months terms, school people estimate Under the MacLean nlan. all of ihi counties participate in the state fund hut most of them pay back more, in directly, under the sales tax. some twice a much, as the difference I* tween the amount the MacLean gives them and the amount th - t'"- .1 ger plan gives them. The lutt< r plan, embodied in a hill Introduced by Sen :i toi- John II. Folger, chairman, and members of the Senate Eitiirai n.:i Commiteo, provides a olO.OOtyWO school fund, $8,200,000 for tin six months term and $1,800,000 for ih* extended term. Under thi< plan, four nf the larger counties, Durham, For ?yth, Mecklenburg, New Hanover, dc not participate in the equalizing fund. The MacLean plan contemplate" n general sales tax which is estimates to produce $9, 000, 000 in revenue. With slightly more than t, 000, 00# population in the state, that mean* an average if about S3 per person per year in the sales tax, collected in directly. With a population of 133, 310 at S3 each, Guilford would pa; $399,030 of this tax and rcceivt 5070,693 from the state; on the same basis. Mecklenburg wjiuld pay $383, [113 in the tax and receive ?595, "Hi for her schools; Forsyth would pay 5335,043 and get back $531,1 IT; Dur ham would pay $201,588 and get ?333,210; New Hanover would pay ? 129,030 and get $ 197,036. Transylvania county . under tho Folger plan, would get $42,440 of the equalizing fund and $60,321. or ^ 1 7,88 1 more, under the MacLean plan. But Transylvania with a popu lation of 9,589, paying $3 eat h would pay $28,767 into the state fund, or $10,886 more than the difference be tween the amounts received und" the MacLeon plan and the Folger plan. While the larger counties would gain, Transylvania would lose under the MacLean plan, as compared witj> what she would get under the Folj;.; plan. HUNDREDS COMING' TO B. Y. P. U. MEET Preparations arc being made foi entertainment of the B. V P. I' regional convention to bo held ir Brevard Friday and Saturday. Apr 17 and lStli. Sessions of the eonvir lion will be heln at the Brevard H;i list church, and delegates will lie eti tcrtained in the home of the people oC Brevard . Other churches are planning to as sist the Baptists in entertainment of truest*. Missionaries, leaders of note and state officials in the Baptist young people's organization will be present. A large number of people will be in Brevard for the two-day* session. SENIOR PLAY TO BE GIVEN THIS FRIDAY "The Arrival of Kitty,'* a cojuedy farce, will be presented next Friday evening, March 27, in the lliifk School auditorium by ttu; Senior class. The presentation is an annual event and is always looked forward. t? as an interesting feature of the class activities. The program will begin at 8 o'clock. Bobbie Baxter pursuing hit little love affair with Jane apainst the op position of William Winkler, has oc-' casion to disguise himself as h wo man, and is mistaken for Kitty, an actress and Close friend of WinMerV to the vast confusion of everybody and everything, which is intensified by the arrival of Kitty. The cast of character^ which fol lows is said to be well chosen, eaek filling with unusual ability his part. William Winkler Paul Black Aunt Jane Rebecca Summey Jane Mollie Snelsoa Bobbie Baxter Glen Miller [Benjamin Moore Hinton McLeod, Jr. Ting Paul Sch"xhner Sam Jack Miller Kitty Dorothy Souther ^uzotte Jean EnRlish I i