Mrs Lou Ella Bolin (pent ?
few days with Dr. and Mrs. G.
C. Bolin and children in Smith
field last weak.
Mr. and Mrs. Jim Souther
land and Susanne and Terry
Whellchdl of Chinquapin visit
ed Mrs. Cora Sanderson Sun
day idtemoon
Mrs. Kathleen Whaley, Dani
ta, Mia. C. C. Trott and Mrs.
Zannie Mae Cottle shopped in
Wallace Thursday afternoon
Mr. and Mr*. Bill Guy recant
1T
Miss Barbara Ann Hill of
Kinston spent the past two
weeks with Mr. and Mrs. Hal
lie Guy.
Mr. and Mrs. Nick Boettc and
Mr. and Mrs. Hallie Guy at
tended the ball game at Tren
ton Friday night
Mr. and Mrs. John Simmons
and boys Jerry and John visi
tad Mrs. Simmons mother Mrs.
Mr. and Mrs Horn Hunter
Jerry, Junes and Mrs. Emma
Wade spent the holidays with
Mr. and Mrs. Sidney Hunter
in New Jersey and Mr. and
Mrs. Cecil Hunter at Long Is
land, New York.
Mrs. Lewis George Whaiey,
Danny and Danita made a
business trip to Wallace Satur
day morning.
Mr. and Mrs. Shorty Kafer
and daughter Joe Kinsey of
New Bern visited Mrs. Mattie
Bradshaw Thursday night.
Mrs. Malcolm Rhodes and
children Penny and David of
Jacksonville spent several days
with Mrs. Mattie Bradshaw last
week.
Mr. and Mrs. C. B. Penny
and children Melinda and Jen
ny of Wallace visited with Mrs.
Mattie Bradshaw on Thursday
night.
Mr. and Mrs. Clifton Hill of
Kinston spent the weekend with
Mr. and Mrs. Hallie Guy.
Mr. and Mrs. Reuben Hunter,
<!>_ __J %*__ I.,.,,, n-L. t
MUr. IIW H*l> eHWlBS *%OHBTX
Grady and children of Rose
Hill visited Mr. and Mrs. War
ran Thomas Sunday.
Miss Mary Jackson of Fay
ettevffle spent last week with
her mother Mrs. Betty Jackson
Miss Mary Linda Kennedy ol
Raleigh spent the weekend with .
her parents, Mr. and Mrs. Leo
nard Kennedy.
Mrs. Lute O. Muklrow visit
ed her sister Mrs. Beatrice
Harris in Winston-Salem during
the weekend.
Miss Mary Jackson and Mrs.
Betty Jackson visited Mr. Jes
sie Thomas in Wilson Sunday.
Mr. Jule Matthews of Fay
etteville spent the weekend
with his Mother Mrs. AdeO Ma
thews.
Mrs. Lessie Exum, Mr. and
Mrs. Benny Ray Thomas and
Timmy Thomas visited in New
Bern, Morebead and Fort Ma
con Park on Sunday.
Mr. Jimmy Creech of Jack
sonville visited his mother Mrs.
Mattie B. Sutton Monday
Mr. and Mrs. Malcolm Rho
H I
dee and children Penny am
David ot Jacksonville visite<
Mrs. Mattie Bradshaw Sunday.
Mrs. Betty Jackson, Misi
Mary Jackson and Mrs. Lot
Jackson Kennedy shopped ii
Smith field Saturday and visit
ed with the A. L. Browns.
Mrs. Leasie Exum and Mrs
Warren Thomas shopped ii
Wallace Saturday afternoon.
Ricky Lynn Thomas, Lanny
Hill and Henry Guy have re
turned to school at Chapel Hill
after spending the holidays
with their parents.
Mr. and Mrs. Sloan Thigpen,
Mrs. Benny Ray Thomas, Ag
nes Lanier and Marie Smith
have returned to East Carolina
College.
Miss Ermie Sanderson enjpy
ed supper with Mr. and Mrs.
Russell Sanderson ?h son
SI ?A
ttusty recently.
For Your
Fertilizer Needs
IT'S
Guy Ross Fertilizer
SEE OR CALL
Dan Cottle
l*hone 289-2711 Rose Hill, N. C.
I ^ ^
whs in6 drrerence ; ins wonrnsROfi??
prepared by tbe North Carolina Bankers
Association and distributed by tbe Banks of
North Carolina
make* ckw the distinction between Banks and Saving
mi?< Loan Associations
It is factual, not critical.
Hie Banks of North Carolina readily acknowledge that Ser
inga and Loan Associations render a distinct and useful
sendee. Iboy do not question die safety of funds invested
in Savings and Loan Associations.
But many such Associations have the appearance of Banks.
As a result, their true function is often misunderstood.
This confusion can be unfortunate for everyone concerned
Savings and Loan Associations, Banks and the public.
You will find the following questions and answers interest
ing and informative.
Q What Is the affluent* between Banks and Savings
A A Saving and Loan Association is not a Bank. Each
performs a separate and distinct function. Banks are
depositories of funds and provide complete financial
service. Among the services available at Banks are?
checking and savings deposit accounts . . . business
and agricultural loans ... personal and auto loans ...
cashier's checks . .. trust facilities. Savings and Loan
Associations are mutual thrift organisations in which
people may invest their funds in order to provide for
the financing of homes. Savings and Loan Associations
do not provide the banking services enumerated
pM? ta a i *
Bmk and tea Savtags mi Lm Association tar pur
? Tf : POOSO Of Hfkpt
A Only Bank* may accept deposits. Savings and Loan
Associations accept investments in shares or share
accounts. Bank depositors are creditors and have
prior claim to the Bank's assets before the bank's
stockholders. Association members are share account
holders (not depositors) who do not have, and can
never have foe rights of creditors. The distinctions
between creditors' rights enforceable in a court of
law, as contrasted with interests of either stockholders
or share account holders, are important.
tenet mi dartigsnad Lean llssirlatlin iliiHiadsT
A Banks must declare in advance what interest rate
they will pay for a certain period. Thus, interest is a
guaranteed return on savings accounts. Associations
pay dividends on a "When and if declared" bads
Urns, when Associations advertise a certain percent
age return, they are actually saying, "We peld this
dividend lor foe last period and expect to pay it for
7 foe next",
Offer* respect tawtdkdrmrataT'' L*B
A As creditors, Bank savings depositors make wffo
' drawal requests to obtain repayment of their savings.
As investors. Association members actually apply for
repurchase of shares by Asportations. Bonks, in moot
instances, honor savings withdrawal requests upon
ihmnid and in all instances without extended delay.
Any delay imposed by a Bank cannot be beyond the
ported fixed in its deposit contract.
Associations need not repurchase members' shares
upon demand. Obviously, any institution which can
lend on long-term real estate mortgages 100% at foe
funds receivod from its members cannot obligate
itself to repurchase shares upon demand.
Furthermore, regulations prohibit all insured Associa
tions from lepreoenllng font they will pay share
holders on demand (Rules and Riegulatlons, FSLIC,
Sec. MM).
On Checking account deposits withdrawals by checks
are always honored by the bank on presentation and
demand.
QBsw do Banks aad Savings and Loan AseactaHeas
* differ In respect to foe avail ability of finds tar wttt
^ Banks, because they must meet depositors' with
drawals without extended delay, must maintain strong
cash reserves and short-term investments. Associa
tions, because they are not required to repurchase
members' shares except after uncertain (May, place
the bulk of their funds in long-term investments.
QWhy Is the Interest paid by hanks generally lower
* Own the dividends paid by Savings and Lean Asoada
tlaaar
A Banks must maintain large proportions of their funds
* in cash or low interest-bearing Government bonds
and other liquid securities, whereas the Associations
invest nearly all of the proceeds of the sale of their
shares in long-term higher-yielding real estate loans.
Q What are the differences In righto when withdrawal
Vr" requests af Bank depositors and withdrawal appUea
A H Banks do Invoke a delay as provided in their sav
* ings deposit contract (usually SO days), they must
pay all withdrawals on demand in the full amount
requested at the expiration of the delay period. Other
wise, the Federal Deposit Insurance Corporation steps
into member Banks and makes all insured deposits
available promptly.
If Associations are unable to repurchase members'
shares within 90 days after demand, they may in
s vtto a "take-your-turn" plan-namely, filing requests
more dun $1,000 he may be paid $1,000, if available,
when his number is reached, and then his application
is renumbered and moved to the bottom of the list.
When his number is reached again, the process is
repeated. Undo- these circumstances, however, an
Association may pay up to either $100 or $900 (do
pending on how chartered) to any holder, in any
month, for the repurchase of share accounts without
regard to numerical order or filing of application. If
unable to pay all withdrawal requests within 90 days,
Associations must apply a minimum of either one
third or 80% (depending on how chartered) of their
receipts to repurchase of members' shares.
QWhat Is the kffnwtt hctwsca the Federal Dapsati
* Insurance Ccrpsrattou (FDIC) aud the Federal Sav
ings aad Lena Insurance CsrysruH? (FSLIC)f
A The Federal Deposit Insurance Corporation which in
sures Bank deposits and the Federal Savings and
Loan Insurance Corporation are both agencies of the
United States Government and worthy of public con
fidence.
However, the time when the legal obligation to pay
becomes effective is not the same under the two
If insured Banks cannot meet die demands of their
depositors, the Federal Deposit Insurance Corpora
tion will make all insured deposits available promptly.
If Associations cannot repurchase members' diares,
the Associations can invoke their "take-your-turn"
charter provision.
Tills provision results in a waiting period which, con
ceivably, could be of long duration. Only after FSLIC
insured Associations are declared "in default" is
FSLJC legally obligated to pay. Unless closed by sup
ervisory authorities for some other reason, an Asso
ciation is not "in default" so long as it implies one
third or 80% of its cadi receipts (depending upon
how chartered) to the repurchase of shares.
We are not concerned here with any prevailing prac
tice of Associations with respect to repurchase of
share accounts, but rather with their obligation under
law to repurchase. This legal obligation deserves at
tention now when considering availability of funds.
It ia bellved that the Information contained in thla
article la tactual and In the public Internet.
It you have additional queationa, ask your Banker. Be
ia at your aarvice at aB timaa.
V MEMBER J
FEDERAL DEPOSIT INSURANCE CORPORATION
WSIIbcb, N. C.
Mrs. Orzo S. TTiigpen, Jr.
Thigpen - Sumner Speak Vows
The marriage of Miss Donna
Jan Sumner and Orzo Sloan
Thigpen, Jr. was soleminlzed
Saturday, December 21st, In the
Beulavllle Free Will Baptist
Church. The Reverend Stephen
A. Smith, uncle of the bride,
heard the vows assisted by the
Reverend Harold Smith.
Parents of the bride are her
mother. Mrs. Ernie Prultt, and
her foster parents. Rev. and
Mrs. Stephen A. Smith. The
bridegroom Is the son of Mr.
and Mrs. Thigpen, Sr.
Given In marriage by her fos
ter father, the bride wore a
portrait gown, a bouffant sheath
of organza over taffeta dn Im
ported chant Illy Ice with pearl
trim accents lace panel down the
front, designed with scooped
neckline and long tapered
sleeves with full carriage back
extending Into a chapel train
enchanced with chantilly lace
appllqued at the bottom of the
train. She used a matching
crown attached to a bouffant
veil of silk Illusion and carried
a cascade of red and white
butterfly roses.
Tne Drioes attendants inclu
ded the matron of honor. Mrs.
> Benny Ray Thomas of Green
ville, N.C. and the following
bridesmaids: Mrs. RENNET
Exum of Roanoke, Va? Miss
Mary Lee Glenn of Hertford.
Miss Ada Thlgpcn, sister of the
groom, and Miss Katie Sue
Grady of Rockingham, N.C.
The Matron of Honor wore a
Ions dress of satin de charme
in flame red. designed with a
scooped neckline. The bodice
was made princess style and
extended Into a full back with
small bow at the neck and
flowing panels. She used a
matching velvet flower with a
circular veil and carried a bou
quet of long stemmed white
roses.
The attendants wore Identical
dresses with matching veil and
accessories to that of the Ma
tron of Honor, and carried bou
quets of long stemmed white
roses.
Honorary bridesmaids were
Miss Geraldlne Kennedy of Beu
laville, and Miss Clara Bennett
Bell of Rocky Mourn, N.C.
The Best man was the bride
groom's father. The ushers
were Lonnle Powers Thlgpen.
brother of the bridegroom,
Thomas Wayne Sumner, Jr.
brother of the bride; JohnClay
ton Jackson and James Elwood
Quinn Jr., all of Beulavllle.
Music for the ceremony was
presented by Mrs. Grover Hill
pianist, and Mr. Ervln G. Dob
son, vocalist.
The bride Is a senior at
East Carolina College School
of Nursing. She is also a mem
ber of Alphi Phi Sorority and
a member of who's who a
mong Students In American
Colleges and Universities. The
bridegroom attended Campbell
College and Is a Junior at
East Carolina College. He is
a member of Alpha Phi omega
fraternity in which he serves
as Chaplin.
ATTENDANTS HONORED
The bride entertained her
attendants wlht a luncheon at the
Country Squire Restaurant at
Kenansvllle. N.C at noon on
Saturday December 21st. Those
attending were Mrs. Benny Ray
Thomas of Greenville. Mrs.
Kenneth Exum of Roanoke, Va.;
Mtss Mary Lee. Glenn of Hert
ford: Miss Katie Sue Grady of
Rockingham: Miss Clara
Bennett Bell of Rocky Mount,
Miss Geraldine Kennedy and
Miss Ada Thlgpen both of Beu
lavllle.
CAKE CUTTING
Mr. and Mrs. Orzo Sloan
Thlgpen. Sr., parents of the
groom entertained the wedding
party and close friends of the
couple after the wedding re
hearsal on Friday night.
The Christmas Motiff was
used throughout the home. Mrs.
Mildred Thlgpen. Grandmother
of the groom, and Mrs. James
Elwood Quinn, Sr., assisted
the host and hostess In ser
ving stuffed dates, minature
rainbow sandwiches, nuts, fruit
cake and coffee. About forty
guests attended.
?fere hosts at ? reception held
u the Beulaville Masonic
Lodge. The ubte was decorated
urtth a bridal arrangement, a
tiered wedding cake, and mem
ory candles, and was overlaid
with a white lace table cloth.
Assisting in serving and re
ceiving were Miss Geraldlne
Kennedy, Mrs. William D. Thig
pen, both of Beulaville; Mrs.
Randolph smith of Kenansville,
Miss Clara Bennett Bell of
Rocky Mount, and Mr. and Mrs.
Stanley Pruvts of WintervUle.
N.C.
After a wedding trip to
Fiord la, the newlyweds will re
side in Greenville, N.C.
MULDROW-JONES
CEREMONY
Mrs. Zoya Jackson Jones
and Gordon S. Muldrow were
married in the home of Mr.
and Mrs. I. J. Sandlin, Jr., Fri
day evening, December 27 at
seven o'clock using the simple
ceremony. Reverend Neil Bain
officiated.
For the wedding the bride
wore a powder blue light weig
ht dress in Bolero style with
street length skirt. Her acces
sories were white and blue. Her
shoulder corsage was a white
orchid.
The house was attractively
decorated in the Christmas mo
tife. The couple said their vows
in front of burning tapers back
ed by a floral arrangement on
the wall in the presence of near
relatives and a few close fri
ends.
After the ceremony the guest
were invited into the dining
room where wedding cake was
served by Mrs. Herbert Cottle
of Rose Hill, the brides sister
and Russian Tea was served
by Miss Kate Jones, her dau
ghter. On the table were Mints
and nuts.
After the reception the couple
left for a short wedding trip.
Mrs. Muldrow operates Zoyas
Beauty Shop and Mr. Muldrow
is engaged in the insurance
business and is A Justice of
the Peace. He is Ex Mayor of
Beulaville having resigned a
few months ago.
WITH THE SICK
Friends of Mrs. Alice Mercer
are sorry to hear that she is
Friend* of Jobh Thomas wUl
be fUd^to know that he is
after being "twflned to his
home due to |||m"
Mr. H. J. Brown hurt his
back last week end has been
confined to his home. We era J
glad to know that his is bet
ter. J
Friends of Mrs. J. D. James
are sorry to know that she is
a patient in Duplin General
Hospital, Kenansville. 1
JOSEPH GORE SUCCUMBS
Joseph James Gore, 47, died
Monday morning. Funeral ser
vice was held at 3:30 p. m.
Wednesday at Quinn-McGowan
Funeral Home in Warsaw. The
Reverend Johnny Miller of
Faison officiated. Interment
was in the Wilson family ceme
tery in the Beautancus Com
munity of Duplin County. Sur
viving are his wife, the former
Effie Mae Dixon of Mount
Olive; two daughters Mrs. Joy
ce Faye Strickland of Magno
lia and Miss Christina Gore of
the home; four sons Joseph Al
len of Warsaw, Jerry Lee and
Wayne Douglas of the home;
Earl Ray of Magnolia; Ave
grandchildren; one brother
Herman of Beulaville; two sis
ters, Mrs. Katie Mae Kirby of
Warsaw, and Mrs. Nettie Rae
Arnold of Waycross, Ga. and
his parents.
Mr. and Mrs. J. D. Sloan
and Mr. and Mrs. Ervin La
nier and Zebbie enjoyed a sea
food dinner at Sneads Ferry
Sunday.
Mrs. Kirby Whaley and Alta
Kirby made a business trip to
Wallace Saturday.
Mrs. Byron Hunter and dau
ghter Lisa of Kinston visited
Mrs. Caroline Johnson 1 ast
Wednesday.
Mrs. Caroline Johnson, Mrs.
Mary Ruth Grady and Brenda
visited Mr. and Mrs. Byron
Hunter and Usaa in Kinston
Sunday.
Miss Janice Smith, Rayburn
Lanier, Mrs. Ray Carroll Smith,
Mrs. Ethel Smith, Mrs. Nora
Smith, Mrs. Paul Southerland
and Waitus visited Mr. and
Mrs. Troy Smith in Jackson
ville recently.
>
See Yeur Town ship List Taker
Today And List 1964 Taxes
=? * X ) ' ? b
Cecil's
THE FAMILY SHOE STORE
CLINTON, NORTH CAROLINA
SEMI - ANNUAL
.
1200 Pairs Of Ladies Heels And Casuals
One Par At Regular Pricey 2nd Mr 5*
Side Starts Thursday 9:00 A. NL
5|:
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HI M
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25% OH-Batance Of Stock For Entire Family
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