MERGER OF
BANKS IS
APPROVED
Hood Says He Believes
Bank’s Depositors Will
Be Greatly Benefitted
Raleigh, May 24.—Plans as fin
ally worked out for merger of the
N. C. Bank & Trust Co., and the
Page Trust Co., each with more
than a dozen branches in the State,
and the Independence Trust Co.„
Charlotte, with one unit, into a
State bank with initial capital and
paid-in surplus of $1,500,000, have
been approved by Commissioner of
Banks Gurney P. Hood, he an
nounced Saturday.
Objectional features of original
plans have been eliminated and on
ly a few objections have been fil
ed, while none of the various de
positors’ or stockholders’ commit
tees have objected, Commissioner
Hood states.
Approval was given, Commis
sioner Hood said, because he feels
that the depositors of the banks
will be greatly benefitted when
plans become effective. These
plans provide for a 100 per cent
assessment of stockholders; a
waiver by the R. F. C. of its rights
to share in the first distributions
to depositors of 20 per cent; dis
tribution of all available cash to
depositors; sale of selected as
sets to the new bank and distri
bution of proceeds to depositors;
no assets of the old bank are en
cumbered by pledge or lien of any
kind to the new bank; after or
ganization, all assets of the old
bank will be available for distri
bution to creditors and depositors
of the old bank.
The plan, Mr. Hood points out,
does not provide direct or imme
diate relief for the present stock
holders, but there is a fair chance
for ultimate benefit to them. It
provides for orderly liquidation
without the loss which accompan
ies forced liquidation. Particularly
beneficial will be the early provis
ion of banking facilities for com
munities now without them.
The banks will continue to re
ceive deposits, holding them for
immediate withdrawal, and will
continue under restrictions until
reorganized. Deposits will not be
subject to action of the liquidating
agent, which will be named mere
ly for levying the stock assess
ment. Depositors will select the
majority of the members of the
new board, which will liquidate the
old banks, the depositors thus di
recting and controlling the liqui
dation, with aid and advice from
Commissioner Hood and his de
partment. Due notice will be given
to depositors, creditors, stockhold
ers and others interested in each
community in which one of the
hanks is located, Mr. Hood states.
[When Rest Is
Broken
Act Promptly When Bladder
Irregularities Disturb Sleep
Are you bothered with blad
der irregularities; burning,
scanty or too frequent passage
and getting up at night? Heed
promptly these symptoms.
They may warn of some dis
ordered kidney or bladder con
dition. Users everywhere rely
l on Doan’s PiUs. Recommended
50 years. Sold everywhere.
DoanS
ills
i
ij-----r
.Displeased Rockefellers
1 ■ ■ 11 11
Diego Rivera, celebrated Mexican
mural painter, whose work was halted
and payment made in full for the
fresco he was working on in Rocke
feller Center, R.C.A. building. The
Rockefeller family objected to the
portraying of Lenin and red Hags in
t the mural.
Disregarding all warnings a
gainst December-May marriages,
Dr. Albert Shaw, aged 75, editor
of the Review of Reviews and one
of America’s most distinguished
publicists, recently married his
22-year-old secretary, Miss Virgi
nia McCall. Dr. Shaw’s first wife
died in 1931.
Country Club Dance
And Bridge Party
For 1933 Graduates
The 1933 Graduating Class of
Roanoke Rapids High School was
honored with a dance and bridge
party at the Country Club last
Friday evening, at which some
two-hundred guests were present.
The country club house was deco
rated with bowls of mixed flow
ers for the occasion.
Graduates and guests were wel
comed by the receiving committee
composed of Mr. and Mrs. C. W.
Davis, Mr. and Mrs. Paul Reid,
Mr. and Mrs H. s. Cannon, Mr. and
Mrs. J. R. Allsbrook, Dr. and Mrs.
Bahnson Weathers, Mr. and Mrs.
C. F'. Ogletree, Mrs. J. T. Chase,
Mr. T. W. Mullen, Miss Ada Ed
wards, and Mr. Edward Lewter.
Punch was served during the
early part of the evening and at
eleven o’clock block ice cream,
cake and mints were enjoyed.
Held as a suspect in a gasoline
station robbery, Richard Ward es
caped from the jail at Belvidere,
N. J., taking with him the prison’s
razors and a half dozen pairs of
scissors.
To Dine at White House
Mrs. Pattie Willis South, 80
years old, Nicholasville, Ky., wrote
Mrs. Roosevelt that she had always
wanted to eat a meal in the White
House, “if only bread and milk.’1
Mrs. Roosevelt wrote Mrs South that
she would be welcomed to d«*>n with
her when she came to Washm„.,uj».
It seems almost impossible to
get rid of hackneyed expressions,
.especially in newspaper writing.
The Chicago Tribune, which mod
estly admits being the world’s
greatest newspaper, still informs
us that “speculation is rife.” And
no doubt getting rifer every min
ute.
Examinations Now
Open Government
Radio Operators
The United States Civil Service
Commission will accept applications
until June 13 for the positions of
assistant radio operator (airways)
and Junior radio operator (air
ways) to ”11 vacancies in the Air
ways Divisioi. Lighthouse Service,
Department 01 Commerce.
The salary for assistant radio
operator (airways) is $1,800 a
year, and for junior radio operator
airways) $1,600 a year. The sal
aries named are subject to a deduc
tion of not to exceed 15 per cent as
a measure of economy, and a re
tirement deduction of 3!4 per cent.
Applicants must have had cer
tain experience as radio operator
on board ship or at a shore station.
Full information may be ob
tained from Carl Churchill, Secre
tary of the United States Civil
Service Board of Examiners, at the
post office in this city.
An ordinary black and yellow
speckled house cat has adopted two
rats to raise along with her brood
of four kittens at the Miracle
Sweet Feed mill in Henryetta,
Okla.
4
Sore/
//*>cLr-doms,
May 15, 1933
Time and again I am told—by my own organization and by others
-that I penalize myself by quality.
Friendly critics protest our putting into the Ford V-8 what th y
call "twenty-year steel." They say such quality is not ne°e®sa^y’
the public del not expect it; and that the public does not know the
difference anyway.
But I know the difference. . .
Tknow that the car a man sees is not the car he dn
drives the car which the engineer sees. The car which rs seen,
drives tne attractive accessories.-all
Tir*. best evidence that we think sc is that they
are all round on the Ford V-8. ^ r, ^ ,s the ba3ls of
But these are no ne and it3 reiiability; the structure
all the rest, is the W d the long thought and experiment
^“"-f^teady development cl cornier!. conven
ience and — °:ybuJHLrwUr^riwo or three years. But we
A oar can be built thatwi ^ ^ materlal of our oar t0 be „
^ 77ll the day it is discarded as the day it is bought. Ford
dependable the y sUU „„ tbe r0ad. It costs more to
oars built 15. yea g ^ . tems we d0 not skimp are cost and
build a durable car _public would
conscience. A great many things could get by P
i +vio difference. But we would know.
“"IwW V-8Ts . car that I endorse without any hesitancy.
17 in it I trust cur whole thirty years' reputation
ir” It is even better than our previous V-8 It is larger.
""l3Jadvertisement'because I know the car will
back it up.