Newspapers / Wilmington Morning Star (Wilmington, … / Sept. 1, 1921, edition 1 / Page 3
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THE MORNING 3TAR. WILMINGTON, N. C. THURSDAY, SEPTEMBER 1, 1921. THREE RECEIVER FOR BANK IS ASKED BY 2 FACTIONS 102 North Front Street Next to United Cigar Store The Young Men's Clothes Shop Bank of Tlromasville Held Too Much Armfield Paper East Carolina Banks - : fc- - .? I i ii ii n I ii , . 1 d A Bt JI LE R. WARREN RALEIGH. Aug. 31. The corporation commission is still worrying with the problem of appointing receivers for ''the two Davidson county banks whose floors were recently closed by the State bank examiners. One of these banks Is the Bank of Thomas ville and the other Is the Bank of Denton. Bank Examiner Newbold ar.d 'lief Examiner Latham are in Thomasville today for a conference with :v-se interested In that bank. The Commission has found that there are two factions In Thomasville. both nf whom want to help name re ceiver for the bank. One crowd wants Tom Finch, of Thomasville, appointed recfjver. but friends and relatives of J. L Armfield. one of the officials of the hank, who had borrowed $125,000 from the bank and was indorser on $30,000 more paper held by the in Btlturion. do not want Finch appointed. It 's said. Mr. Armfield. it is under-tt"-d from people coming to Raleigh from Thomasville. has offered securi ties aggregating $71,000 to secure her ' husband's indebtedness to the bank provided the corporation commission will allow them to organize a new bank, which shall act as receiver for the old Thomasville bank. The banking department of the com mission, it is understood, has not agreed to this recommendation, and will make a more complete investiga tion of the baifk's affairs before they come to any conclusion about what course shall be taken. The trouble with the Bank of Thomasville, of course, is the fact that so much of its resources were loaned to Armfield, who was interested in a large number of other enterprises in the county. The fact that it ajso held too much of Armfield's personal papers and papers with his indorsements, is also responsi ble for the troubles of the Bank of Denton, which is located In the south ern part of the county. The commission has under considera tion the names of a number of men for appointment as receiver for this bank, but has not yet reached a con clusion as to who shall be appointed. The Davidson county banks are a geographical exception to the general rule in bank failures this year, for the majority of the banks which the state has found it necessary to close, have been in the eastern part of the state. where economic conditions rather than errors In management, have been the cause of the trouble. The decline in the price of tobacco, cotton, peanuts and other farm prod ucts of the eastern section, and the inability of the farmers to meet their obligations, has been the natural cause of the trouble with the eastern banks.' which have en countered rough sledding during the past year. There have been practi cally no instances in line with the trouble of the Thomasville bank. The purchasing, of wild cat stock by the farmers has also played a part in the troubles in the east. Framers who might have been.in a position to meet their qbitgations-at tU bank:rnd the time merchants, navefceen confronted with promissory ;notet calling for pay ments on their oil, fertilizer, mining and countless other kinds of stocK negotiated for in flush times. In addition to these natural causes, other factors have contributed to the unusual number of bank failures in North Carolina during the past year, according to those who have studied the banking situation. These con tributing couses are summarized un der three heads. 1 The legislature, until the law was amended by the last session, al lowed banks . to organize with only J5.000 capital. Experienced bankers regad this as entirely too small a capital stock for any banking institu tion which hopes to establish itself on a sound basis. Many of the banks which have got into trouble have been these smaller banks. 2 The legislature has not provided sufficient funds for the employment of as large an examining force as is needed regularly to Inspect the more than 500 state banks and trust com panies. This has made examinations infrequent, and prevented the bank ing department from keeping as close tab on the state banks as it neces sary for the best interests of all con cerned. 3 The depression this year has hit the cities. The larger communities, of course, have felt the effects of the hard times in the back country, but it is in this back country that the ma jority of the. state banks are located. The national banks are usually found in larger cities, and hence have not been so hard hit. (!7 miver STARTS V 1 H W V II II M FRIDAY, . AND RUNS FOR NINE DAYS ONLY It is with pleasure we are announcing" our First Anniversary Sale. And why shouldn't we be proud of our short business career? We, have accomplished in our first year , more than some others have in a lifetime and others will never get it. We have gained the confidence-of the people and we mean to keep it. There is a reason for it. The Young" Men's Shop's motto is: "Always to Give the Best Values for the Least Money." As evidence of our appreciation for past courtesies, we list below a few items: Men ! Buy Your Clothes Now ii Men's suits, gray tweeds, in plain and fancy models, s- OQ QC at . -. $LiUuD Gray and brown herring fO CC bone suits, only W40D Blue and brown stripe, all-wool wor sted suits, OQ QC at tPLO.OO .rown and blue all-wool OQ OC flannel suits 9pLiOD One lot of all-wool worsted suits in brown, gray and blue QC stripes, at 9LtO OO One lot of men's stout suits, in blue and gray serge; also mixed un finished worsted suits at a special price. Sizes from 38 to 48. All our summer stock of Palm Beach, mohair and gabardine, tropical worsted and shepherd plaid will be sold below cost. 7 A special reduction in our stock of Adler, Rochester, Stratford, Sta dium ancLSimplex clothes. Now is your chance to buy that overcoat for the winter. We give you the benefit of our new stock that is just arriving daily at a low price. Men's Pants Men's pants in blue serge, blue and brown flannel, striped worsted, unfin ished worsted and gray herring bone pants. Also extra sizes from 42 to 52. Your opportunity df buying your sup ply of winter union suits, such as Roxford, for Of only plO0 One lot of men's summer union QC suits for ODC Men's $2.50 union djl AQ suits . Pl tU Silk union suits, all sizes $2.49 Here's your chance to get one of the newest university shape hats, such as the Berg, $7.00 dr 1 Q hats for ; )DJL One lot of hats 33 Derbys $yl l?C for $4.03 One lot of men's hats dQ QC for $000 One lot of cloth hats (M if for M.45 Men's Shoes Just Received for your benefit at low prices. The latest Norwegian calf and Scotch grain brogues and wing tipped shoes. Men's Shirts Madras shirts at Ox weave Russia cord shirts . $5.00 silk stripe madras shirts . Silk shirts in jersey, crepe de chine, broadcloth and tub silk $1.69 $2.19 $2.69 $6.35 LOS ANGELES LIMITED HELD UP BY ROBBERS All Male Passengers, Save One, Are Robbed TIRK NATIONALISTS STRICT ON BEHAVIOR OF CITIZENS ANGORA,' Turkey, Aug:. 31. The in terior of Asiatic Turkey is a rather pleasant place, aside from the heat and the war with the Greeks. Where the nationalists control the visitors if given official admission to enter at some Black sea port, is free to do much as he likes, and go where he will. There is plenty of food and at very low prices as compared to Constan tinople. Eggs cost a cent each, water and musk melons two to three cents, and a restaurant meal may be had for 20 to 30 cents. The drinking visitor may not like the ccuntry. Prohibition is honestly enforced and public and military of ficials are disciplined if found drink ing. Card playing is also prohibited. In the hotels of the larger towns even strangers are not permitted to play In their rooms. The nationalists pro pose also to prohibit games in pub lic cafes such as checkers. The idea Is to remove the attractions for loaf ing, likewise, the smoking of opium or tobacco through a water pipe known as the narghileh Is doomed. The smoking of cigarettes, the talk ing: of politics and the reading of newspapers are the only distractions lft to Turks gathered in village or tb" cafes. SALT LAKE CITY, Aug. 31. The Los An'geles Limited, of the Union Pacific system, was held up by two masked and armed robbers shortly after 2 o'clock this afternoon near Clearfield, nine miles south of Ogden. All the male passengers were robbed. The train was . stopped by an auto matic block signal. The two robbers boarded the train and while one gathered loot in the observation car he other proceeded to the other cars. The exact amount taken is not known. Nearing the outskirts of Salt Lake, the robbers pulled the signal cord and escaped in the northern part of the city. One passenger in the observation car rather than hold up his hands, jumped from the train. As he was fleeing one of the bandits shot at him. Women and children on the train were not molested. SHORT SKIRTS AXD SHORT HAIR RUIN 1921 POST CARD INDUSTRY NEW YORK, Aug. 31. Short skirts and bobbed hair have- worked a hard ship on dealers in souvenir picture post cards the variety that floods the mail at this time of the year from summer resorts along the Atlantic coast. Previous to the advent of the afore named styles, stocks of these fcards showing beaches and cool walks were ordered in advance in lots numbering in tens of thousands. As the beaches ' WORLD'S GREATEST EXHIBIT OF HOSPITAL. APPLIANCES WEST BADEN. Ind., Au2. 31. The world's greatest exposition of medioal and hospital equipment will be held in connection with the American Hospital association convention here September 12 to 16. Everything, from X-ray fnach'nc's and laboratory equipment. 'o dish washing devices, will be shown to isr gates from all parts of the United States and Canada. The cost -f trans portation alone of the exhibits is esti mated at $100,000. Among those who will address the cr. nvention are Governor McCray, of Indiana; Dr. L. Baldwin, of Minneap olis, president of the association; Dr. George O'Hanlon, of New York; Dr Kaven Emerson, Washington; Dr. A. C Backmayer, Cincinnati; Dr. Frank Hill ings. Chicago, and Dr. F. R. Nazum, Santa Barbara, Calif. The training of nurses, methods f securing hospital efficiency, hosp'tal dietary, food preservation and hospital administrative problems will be araon? the subjects discussed at the neetir.gs. GREAT GATHERING AT ROCK THAT INSPIRED NOTED SONG BURRINGTON COMMBE, SOMER SET, Eng., Aug. 31. The rock visual ized by Augustus Toplady when he was inspired to compose the hymn. "Rock of Ages," stands just outside this vil lage and a great demonstration to per petuate his memory was held there on the August bank holiday. Toplady is said to have taken refuge at the rock from a severe storm which was sweeping over the gorge on the edge of which the rock stands and, H H SPE MBER cia; he Sure Relief Hot water Sure Relief BE UL-AlftlS FOR INDIGESTION did not cnange. ana as a. cruwu was a whlle wajting for it to pass over crowd regardless oi wnetner it was was led to compose the hymn, this year's crowd or last, the cards ( The great pilgrimage to the rock could be sold just the same. j was organized under the auspices of Now. however, all is changed. A pic ture showing a beach or a board walk of a summer play ground with women strolling about clad in dresses that brushed their shoe-tops can be put down at a glance as ancient stuff. The tourist wants evidence to send home indicating that he or she is there now and that he or she is trailing up an up-to-date crowd. Hence it is thumbs down for the picture card of vester-year to the-aistress ana nnan- the Church of England, but a Salva tion army band also took part. The 10,000 people present, some of whom were perched on jutting rocks on the side of the gorge, took part in the singing of the hymn. It was also de cided that a memorial to Toplady should be placed on the rock. MAY OPERATE WAREHOUSE (Special to The Stnr) KINSTON. Aug. 31. It Is reported 1 - . . , , . 1 n ( J . 1 I . , . . . l J f -r I cial loss oi tne aeaier wnv jam in wijCjtoai me organized lanners oi . i-ienoir stocks at pre-war prices. PLAYING TENNIS KEEPS 'EM OUT OF THE PENITENTIARY SIOUX CITY, La., Aug. 31. Play ing tennis keeps men out of the peni tentiaries. This is the view of Rev. J. R. Perkins, of Council Bluffs, La., formerly warden of the Iowa peni tentiary. In making a sporting survey J revolution of the prison while warden Rev. Mr. Perkins said he found only 2 men out nf 00 who had ever played tennis. He county may take over one of the six tobacco wharehouses here this fall and operate it as a sales and storage house. Rumors have it that the establish ment will get liberal patronage. Two agents of the association are now in the field, it is understood, soliciting business in every part of the county. Organizers from State headquarters here this summer predicted an eventual in the tobacco business; with the abolition of the auction sys tem and inception "selling with the market. Cloverbloom butter, ALr per pound TCl BEST FLOUR Plain or Self-rising 12 pounds KKn for DOK 24fopunds $1.10 One-half barrel $4 35 One barrel tfQ A for fPO.OU Tall salmon ? 10c Tall evaporated milk O for 1C Granulated sugar, , j per pound , 4 C LARD Best compound, -l q per pound ljC 50-pound cans for i l2C Pure hog's lard, per pound 1JC 50-pound cans 1 Aln per pound llfC Best canned corn, OC 2 cans for LtDC Best ground coffee, 1 C bulk, per pound IOC Prices are on the rise. Buy now and be sure you will save. Phone us, we deliver anywhere. J. E. MAR BURN 3-5 South Second Street Telephone No. 385 "The Lower Priced Grocer" s "'rl '' 1 -'., 1! V J f m4 statement at a banauet bar. 4 , 1, ' - t" - : -A t -"Si-"- -
Wilmington Morning Star (Wilmington, N.C.)
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Sept. 1, 1921, edition 1
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