Newspapers / Watauga Democrat (Boone, N.C.) / Feb. 9, 1933, edition 1 / Page 3
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FEBRUARY 0, 1933. LIBY HOLMAN'S SON IN LINE FOR GREAT ' TOBACCO FORTUNEj Smith Reynolds' Estate Estimated at $23,000,000 on Basis of Increase Su Value of Company's Stock- Former Wife Settled for a MillionBulk of Fortune in Tobacco Stock Accumulated by Father. Winston-Salem.?The infant son of Libby Holman Reynolds, one-time Broadway singer, is to be the storm cen-.er of a legal battle for a vast fortune of $23,000,000, or more. This huge sum?and not the $7,000.000 to $20,000,000 previously estimated?was revealed Saturday as a conservative figure for the estate of the late Zachary Smith Reynolds on the basis of careful calculation nrade available to the press. ^ Attorneys for the posthumous child, born recently at a Philadelphia hospital. will soon seek this fortune for the infant son of Reynolds, 1 i-Bn - c 1 : ? ?:a.l .?,??, (un-i a iiainiii^ rutuunce wiin the husky-voiced show-girl, was shot to death last July at his estate, Hey- ~ no]da. Charges o>f murder against C his widow and Reynolds' life-long chum, Albert (Ab) Walker, have been nel prossed by the State of North Carolina, and the road is open for C the fight for the fortune. d Estimate Is Conservative V The estimate of $23,000,000 is a a conservative figure, and a later accounting probably will reveal the \ estate is worth at least several mil- ^ lion do la Irs in excess of this sum, " according to persons who figured the *1 value of the inheritance on the face n of stock in the R. J. Reynolds To- n bacco Company, left in trust for Smith, along with the other three Reynolds children, in 1918. v The statisticians figured the value n of the estate only on basis or stock jy in the Reynolds Tobacco Company, adding dividends over a period of years. c Value of the stock bequeathed to Smith Reynolds by his father in 1918 was $671,091. However, the amount left in trust was $1,781,921.19, a difference of $1,100,000. When his mother died in 1924, she bequeathed her son approximately $1,906,557.94 or one-lifth of a net estate valued at $9,532,789.71. Stock increases Statisticians took the approximate amount of Reynolds stock, both common and B, and divided it into the approximate number of shares left - to. iimiUl?aCJ-HVW.1' Wlm~ 1 VUlid 'thiti this totaled 1,207 shares of El stock" ~ 4.504 shares of common stock. This stock hus increased "to about is 240,23(1 shares of B stock, which would be worth $1,347,130 at the present market value. The common slock has grown to 152,130 shares and would be valued at $9,127,800 at the present market value. In addition to this, the late Mrs. it. .1. Re.\ nolt's Sr., v. ben she died in 1924, left to Smith a total of 5,054 shares of R stock, which has enhanced to 17,05" today and 0,081 shares of common stock, which has uvuWTt tn 21.502 shares at the present time. The B sEock at, present values, would be worth $517,007, and iho common stock would have a valuation of $1,290,120. Total value of all the Stock therefore, is $15,312,727. Large 'Dividends auuitiiui IU \-iic uiiunui valuation of the ..tock dividends over thlast I I years have been $8,021,400.05, based on the estimate of the number of shares the estate of Smith Reynolds possesses. This brings the total to $22,384.133.05, which statisticians familiar with the estate say is very conservative. This sum represents the growth alane of the Reynolds Tobacco Company owned by the Smith Reynolds estate. oust how the $1,100,000 left by Smith's father has been invested is not known. In addition to these figures, the Smith Reynolds estate set aside $1>000,000 for the first wife of the young heir, Mrs. Anne Cannon Reynold's, and their daughter, Anne Cannon Reynolds II. During his lifetime, Smith Reynolds received $60.000 annually as an allowance. Nothing else was touched, or could be touched, until he reached the age of 28 years. The only heirs to this estate as it now stands are the infant son of Lsbby Holman Reynolds and the daughter of Anne Cannon Reynolds. However, through a court action in 1931, Anne Cannon Reynolds and her daughter agreed to waive all rights in the estate in exchange for the trust fund of $1,000,000. Whetncr thi3 agreement will^tand remains to he seen. HONOR STUDENTS The following names were omitted from the record of honor students for the first term at Blowing Rock school, carried in The Democrat last week: Frist Grade?Honor Roll: Allen Klutz. Second Grade?Perfect attendance R3y Critcher, Harry Robbins, R. W. Triplett, Jean Ingle. Honor roll: Helen Coffey, Grace Davis, Edith Pitts, Floy Shore, Lucy Mae Walters, Katherine White, Thehna White, O. D. Greene, Lewis Hodges, Howard Holshouser, Norman Icenhour, Carter Lentz, Hany Robbins, R. W. . 53 - Dusting Indoor Track Gene Vsn?ke, noted Uiilvwrity of Pennsylvania miler, is burning up the indoor tracks, stepping the threequarter mile in 3 >nic., 5.2/5 seeds., in the first mid-winter meet. He. hold? the indoor jnile record* L1RL GETS $10,000 DAMAGES FROM CITY OF CHARLESTON Charleston. W. Va.?A Circuit t lourt jury Friday awarded $10,000 amages to Miss Edith O. Toler, 24ear-old chief telephone operator, gainst the city of Charleston. Miss Toler was injured by a limb ailing from a tree on a city street, he asked $30,000 damages, claimig that her memory was ruined to he extent that she could not recogize her friends or recall their ames. "Blind Man'* Bluff Thrilling Noel of Myatery and Murders, Begining in The American Weekly, the lagazine Distributed with Next Sunay's Baltimore American. I Q)ee&< . I Li\ In this startlin; threaded nccdl needle out the c EXPLANATION i Under the cloth side of his body 13 inserted in ii body and emerj formed ?o quit needle and thr WATAUGA DEMOCRAT?EVER MARRIED TWENTY-TWO YEARS; HAVE 15 CHILDREN MaiximvilJe, Va.?There's a new wrinkle in the age-old adage that the famous Virginia fairy stone or ky gtone:: wili bring- uiic gvoiT hiekr tor within "hollowing" distance of the famed country embodying a small section in the mountain ruggedaess of the Patrick-Henry county line, 15 mil s west of here, blessings have t>een bestowed on a couple who became the proud parents of triplets, ^ ill girls, recently. New arrivals at the home of Mr. j md Mrs. Grover Turner in the famed ' 'fairy stone" country, several miles 1 west of Center church, popular meet- [ ing place for followers of the Primi- . live Baptist faith, were the three 1 laughters. Pauline Turner, weighing $ pounds; Carleen, weighing 7 lbs. 3 and little Ailcen, tipping the scales 1 at 5 pounds. This is the first instance 1 in many years that the stork has pre- J 92nted triplet? to a Henry County ; couple. ; Mr. and Mrs. Turner are from old Henry County stock, their parents ' being among the firsi: settlers, and all being reared in the same section j of the county. Before the arrival of the triplets, the couple were the parents of 12 children, five .beinir fiSvs ncH invert girls. The oldest is a son 20 years of age-, the youngest a daughter of 11 months. The couple have been married 22 years. Mr. and Mrs. Turner, now the parents of 15 children, live in a modest li.tle home in the mountains. The father had followed the saw mill trade until several years ago, when ha turned to Varming as the means of furnishing a livelihood for his flock. Client?What do you think o>f the* idea of gjying the money hack to t.n? bank and asking for a light sen-j tense? J J^v.vycr ReH?"' flow would you} he a*jle to pay me then? 1 . - ) ' WL V// JX Vm wSm, ' jes^ 5 tncVi ^c magician seemingly pushes a hi e through the body of an assistant, pulling ther side, followed by the thread. es of the victim is a Ripe, extending around < from front to back. The needle, which is flexil tie front end of the pipe, is carried around ;es from the pipe in back. This operation is p kly that the audience doca cot notice that ead are momentarily shortened during the i OTOtcz: "Magic Stage IUxsioru and Scientific Ditcnia by Albert A. Hopkins... Co. OopyrUbt. IMS, B. J. 1 li Con i-Mill.f ItsSafe;I 8e; v'i? - "v Y THURSDAY?BOONE. N. C. TODAY ?ss?5 FRANK PARKE^Tl^Sfe/ U. STOOC8RI D6t|.^y\|^ PROSPERITY ... at Cha.ka, Minn. My friend. James F. Faber, city ;ditor of rae Valley Herald, pubished at Chaska, Minnesota, send* me a memorandum of the claim of .'hat thriving little city to the title of 'the most prosperous .town in Amercn." With 2,000 inhabitants Chaska has i surplus of ovti 008,00V it: the City treasury*- Taxes have been cut 30 per cent. The people of Chaska have almost $2,500,000 in the two banks, and the town never had a bank failare. There are no native - on the poor iist, and the city is providing a good living for nearly nine'y business and professional men besides their employees. On top of that Chaska has had new businesses opening in each year of the depression, and has only five names on the delinquent tax list. 1 know of no other town the size of Chaska that can make such a mowing. Do you? * V * SAVINGS ... in the bonks Their? is more money in the savings banks of the United States than ever before in our national history. Tn New York State alone savings bank deposits were more than five; thousand million dollars on the fiist of January. This money is owned by more than five and one-half million depositors. The people of the United State3 are certainly not "broke" when savJ ings deposits increase like that. Folks are putting their money into safe piaccs instead of spending it be cause tpey are not quite sure yd ice the gi It's tun t >ne . % ... its me ierthe lct We like tricks...but we pri them out of business. Here's one that's interc illusion that by some obscur tain cigarettes are "cooti?" THI EXPLANATION: Cooine mined by the speed of bur cigarettes burn slowly. Tl Parched, dry cigarettes They're hot. Camels are carefully 1 moisture-proof cellophane. OPT FRESH M THI WEIOEP HUMIDOR PACK what is going to happen in the fu- c.\ ture. Ju^t as soon as condition? seem ai 0 be stabilized there will be plenty of. funds available for in vestment It* C promising; enterprises. * *- pi CREDIT . . . ?aJ an idea Talcing the country as a whole, the tbarsks are fall of money, but it is ef harder than ever for the average person to borrow money from the <"<t banks. The reason for this is very clear. Fewer people than ever be- q fore are in a position to give a banker reasonable assurance that they will be able to pay a loan when it is , cr due. It is not shortage of money that is keeping us poor; it 13 shortage of s* credit. The few who have good credit can borrow money cheaper than ever before. I don't know how it would work, V but it seems to me there is some . merit in the suggestion that if the bank- would lend everybody enough ? to pay their clebta mon^y would be- S 1 gin to circulate so fast that busiJness would immediately pick up and " I everybody's credit would be as good * as it ever was. That idea is certainlv not any more foolish than a good many of the inflationary proposals Cl that have been offered in Congress. * RABBITS . . . they multiply Two adjoining Long Island towns voted a couple of years ago to per- B mit no shooting and to suppress cats, in order to provide a bird refuge. J But the townspeople forgot rul about rabbits. ! Now Centre Island and Mill ^ are so full of rabbits that it is ai- , most impossible to drive over the roads without running over a few; i-; cottontails. Farmers and gardeners! Si are wondering what they are going "1 to do to protect their lettuce, spinach 1 ; and o her garden crops in the spriug. They are trying to <get the local game I i ordinances amended to permit them]*., ' to shoot the rabbits. What has happened in these Long j Island towns is what happens When-}}, :o be iooled >re run to i efer to keep mous, air-tight Humido are cool because they'r :sting...The A cigarette blended ? e magic cer- irr'tating tobaccos also than others, effect than one that is ? ss is deter- The finer the tobacco tl ning. Fresh it is, and therefore the ley're cool. , , . Camels are made wrapped ,n MORE EXPENSIVE ? "m e 3 any other popular h This is why Camels ar non-irritating?full of .) why Camels have give: to more people than an; . rever made. It's the tobi Keep the famous a Pack on your Camels. _ r?u 1 i~ Pa iicsu) wui siuu??. NO T ..just a TOBiE IN A MATCI TKRE3 or man interferes t-j upset the bailee of nature. * * * INS ... sctoe valuable Rare old coins s:ili bring nigh ices. A p nny sold at an auction New York the other day Tor ssxuoSars. It vrsr. a copper cauit dat1 1730. Among the other rare coins sold at ic same time were some copper iard vimc-s" tokens issued from priitc mints between 1834 and 1841. no of thern dated 1837, brought >2.50. Coins are not valuable merely beluse they are old; it is rarity that akes collectors bid for them. The lver dollar of 1801 is so rare that ily four or five are known to be in tistence. and anvoiie fmdinw fino f those coins can almost name his rVn price for it. Most of the silver hilars coined that year were tent ? Europe for the payment of certain ideations and the ship was lost at a. Last year the United States Mint iade more coinr. than in the previus two years; there were more than venty million of them, worth $C8,00,000. One reason for the increased i>inage was ihe large offerings of old jewelry and ornaments, which Te mint is obliged to purchase and ive gold coins in exchange for. OBBEJ) I LA III WAS IX STYLE OVER 3.500 YEARS AGO London.?Bobbed hair is nothing esc?in fact. It's a style about 3,500 jars old. And the people v.ho wore leir hair bobbed in 1400 B. C. were ivilized but surly.'' That's what Sir Flinders Pet'de, gy pfologtet of world note, reports to ir Charles Garston from the cradle r civilization. Makinir deep excavations around aza palace, which dates from 3.000 . C . Sir Flinders Petrfe found two nail pottery figures with thick hair itt shout and square. Tanks were first used in warfare ' ;-!^S"- '^m [NOW rPack. Camels e fresh. rom choice noni gives a cooler tarsh and acrid, le less irritating "cooler." ell known by experts, that frem Sner, >baccos than rand. e cooi ana inilu, flavor. This is r? more pleasure pother cigarette ?r*f?rx iKot ivw IUUI WUIlldi elded Humidor It assures you RICKS DSTL1ER I iCCOS I LESS BLEND
Watauga Democrat (Boone, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 9, 1933, edition 1
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