Newspapers / Daily Herald (Roanoke Rapids, … / July 13, 1933, edition 1 / Page 7
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$28,300 For Local Home Owners Federal Bank Praises Local Association Means Building Of At Least Nine New Homes Near Future The Roanoke Rapids Building & Loan Association wag commended and praised by officials of the Fed eral Home Loan Bank on the eve of receiving $28,300 which will be loaned new and old home own ers who are members of the Asso ciation. Nineteen loang were aproved by the local Association Monday night. Nine new homes will be built here in the very near future and detailg will be published in The Herald in about two weeks. The nineteen loans range from $600 to $3,000 each, with the aver age at about $2,000. This just a bout cleang up the loan list of the local Association so new members will not be compelled to wait as long as those have in the past. The Federal Home Loan Bank, under a discounting arrangement, ig serving the same purpose for member Building & Loan Associa tions that the Federal Reserve does for member commercial banks. This is making it possible for new home owners and old to get prompt action desired by the Ad ministration. Herewith is printed the letter from the Federal Home Loan Bank to the local association. FEDERAL HOME LOAN BANK of Winston-Salem, N. C. Office of Executive Vice-President July 5, 1933 Mr. J. R. Manning, Sec.-Treas., Roanoke Rapids Building & Loan Association, Roanoke Rapids, N. C. Re: Membership Dear Mr. Manning: I have the pleasure of informing you of the acceptance of your as sociation as a member of the Fed eral Home Loan Bank of Winston Salem, in accordance with your ap plication, and the establishment of a line of credit of $28,300, avail able under the terms and condi tions of the Federal Home Loan Bank Act, and such regulations as have been or may hereafter be DON’T FORGET THE SUNDAY SCHOOL EXCURSION TO VIRGINIA BEACH AND Norfolk - Portsmouth WED., JULY 19th THROUGH COACHES TO VIRGINIA BEACH Lv. Norlina __ 4:10 A.M. Lv. Littleton —4:40 A.M. Lv. Roa. Rapids 5:08 A.M. Lv. Weldon_5:13 A.M. Lv. Seaboard —5:35 A.M. Returning Leave Virginia Beach 7:30 P.M. and Ports mouth 9:00 P.M. same day. Virginia Beach $1.65 Portsmouth _$1.25 SEABOARD Air Line Railway I . rescribed by the Fed'-rrl Horn Loan Bank Board or the Directors of this Bank; and the acceptance of your subscription for 30 sha-es i " the capital stock of this Bank 'ou ore to be commended an congratulated in having an asso ciation that has stood the exami nation and investigation requisit for membership in such a man ' ? as to recr-ive the unanim us ap proval of its conditions, the cha - acter of its management and home financing policy, as being con-i tint " i-h; sound and economical home-financing, and with the pur pose of the Act of Congress es tablishing the Federal Home Loan Bank System; and such approval making avai’ablg to you the right s privileges and benefits of all mem bers under the terms of such A?t Tt W hoped that you will use this line of credit to your finan cial advantage and to the benefit of thg home owners of your sec tion. You are familiar with the necessity of safe and conservative opeiation of this Bank, th? require ments of the Act of Congress, and the limitations of the laws of your own State; and, with such in view, we trust you will call on us. Yoyrs very truly, THOS. W. ELIETT, Executive Vi. ---President. Only 2 Of 1,000 Shareholders Pay Stock Assessments Former Governor A. W. Mc Lean, chairman of the board, and former President N. S. Calhoun, of the N. C. Bank & Trust Co., were the only two men who paid their 100 per cent stock assess ments before they were reduced to judgment, out of more than 1,000 stockholders. Governor McLean paid $14,930 on his 1,492 shares, and Mr. Calhoun paid $1,000 on his 100 shares. Of the $2,500,00 assessments, Marion Talley Back m Marion Talley, Kansas City’s Grand Opera prodigy, is back in New ,York to resume operatic work this fall. She still owns her farm in Kan sas, but right now she is more inter ested in getting and keeping fit, so she skates daily on the roof of her hotel. - the largest is against the Pied mont Corporation, Greensboro, of which Smith Richardson is presi dent. Mr. Richardson is publish ing a series of articles in daily papers on the failure of the N. C. Bank & Trust Co. The second larg est is against A. B. Andrews, Ral eigh, of $160,000, while other mem bers of the Andrews family are assessed as follows: Graham H. Andrews, $33,377; John Andrews, $27,000; W. J. Andrews, $2,400. Andy Bynum of New Port News, was a visitor in Rosemary last week. Mrs. S. J. Worsham has return ed to her home in Greensboro. American Watches At The Lowest Prices In Fifty Years ELGIN ELGIN, 7-JEWELS, 12 size ____$4.75 ELGIN, 15 JEWELS, 16 size_$5.00 ELGIN, 7 JEWELS, IS size -$4.75 B. W. Raymond, (ELGIN) 21 Jew els, adjusted, guar anteed to pass Rail Road inspection $25.00 HAMILTON (992) 21 jewels, Guaranteed to pass Rail Road in spection on any road-$27.00 QUANTITY LIMITED All prices subject to the 3C/, Sales Tax Roanoke Jewelry Co. 1024 Roanoke Ave. ROANOKE RAPIDS, N. C. Collector Internal Revenue Notifying Of New Wheat Taxes The Office of the Collector of Internal Revenue is working under pressure to inform Millers-Mer chants as to the Processing and Floor taxes on Wheat and Wheat products. The tax is effective at midnight of July 8, 1933. Millers grinding wheat for the farmer for consump tion by the farmer, his famliy or tenants, will require an affidavit of the farmer to that effect. If the farmer sells the flour, no exemption is allowed. A Wholesaler who is also a Re tailer, carrying on business at the same place must pay the tax on his entire processed wheat stocks as though the Retail phase of the business did not exist. If a Retail merchant has such stocks stored elsewhere than hi retail floor, the tax attaches to such stocks. A Floor tax is imposed on all processed wheat products in the hands of millers, wholesalers, bak ers, hotels, restaurants, cafes, and cafeterias, as well as the stocks held by retailers in storage. Retailers have until August 7th in which to dispose of all stocks on hand in his store at midnight July 8th, but must keep a record of goods received from July 9th to August 7th, and make an inven tory August 7th of stocks on hand at the close of business then. Aurelian Springs Farmers Are Paid Exchange Dividend j-he wholesale V SS, a corpora tive, non-profit farmer-owned pur chasing and manufacturing ser vice that distributes in this gener al territory through the Aurelian Springs Mutual Exchange has de clared a 1 per cent patronage re fund to its patrons on its 1932-’33 business in mixed feeds, seeds and manufactured supplies. Where the local retail agency is cooperative in nature as in the Mutual Ex change any refunds are returned to them and in turn the Exchange either adds it to and distributes with their own dividend, if any, or may hold it as a reserve. Such re funds are being paid in the form of paid up capital stock. This stock bears interest, if earned, and will eventually be bought in for cash. The plan lends itself to a revolving ownership and leaves the ownership of the business in the hands of those who use the organi zation. The Aurelian Springs Mutual Exchange is owned by and operat ed at cost in the interest of farm ers trading at Aurelian Springs where C. L. Kelly acts as manager: at Roanoke Rapids with J. L. Cobb as manager, and at Littleton with W. R. Wiggins manager. The Ex change is governed by a Board of Directors consisting of farmers. Its president is E. W. Liles. Only a STRAIGHT EIGHT] can give Straight Eight' PERFORMANCE! The 4-door Sedan, $6P5, f. o. b. Pontiac. Bode by Fiaher. Specialeqaiy* ment extra. PONTIAC—the Economy Straight Eight—* is one of the outstanding successes of the" yeac. It is showing the way to big-car com* fort and Straight Eight performance at low price and with operating economy. Pontiac is the Economy Straight Eight. Ask any Pontiac owner—and you’ll find it is giving 15 miles or more to the gallon— end gives that not only for a few thousands of miles, but for many thousands after you’d expect it to show signs of wear. One of Pontiac’s outstanding features is Fisher Controlled Ventilation. Many say no car can be considered modern without it. Try a demonstration. Let Pontiac itself convince you that it has no equal at or near its price—that it is the outstanding car of the year in every detail that goes to make a car modern and desirable. Ask your dealer for a copy of the book let, "What do yon' mean — Balanced Value.” It is free, • Visit the General Motors Building, Century of Pro<*rest NASH MOTOR COMPANY Roanoke Rapids, N. C.
Daily Herald (Roanoke Rapids, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 13, 1933, edition 1
7
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