I fohn W. Floars Wilson Floars, 82, pro lt citizen, died loon in the Wil- Ai. Floars was a citizen. neer in the elec ig business, hav st light plants in ange and Ply •ved many years i Town Commis is a member of and ithe Knights a life member of H ed by his wife, Floars; one son, ■". bars of Edenton lild. ....... ices were con ducted at the Methodist Church « Fremont. Saturday afternoon ■jtt.2 o’clock. Burial followed in jfce Fremont Cemetery. '’Edenton Directory Pi g Distributed uid from Page I—Section 1 list of names are the lilting of the names of wives, designation of the heads of TOUsehoOiS, the designation of ’Occupations and the listing of ad dresses. i J :fhe householders, or green leption, in addition to showing joeations of streets and who •litas or . does business at each |rumber, denotes the homes that ,«re owned by the occupants and telephone numbers. P She Numerical Telephone Di ifectory, printed on blue paper, 'listing the telephone subscribers pjf numerical progression of tele phone . numbers, will help to identify an anonymous caller when only the telephone number . is given. •T .Plie of the most imtporfant Phases of the new City Direc qiy set-up is that the peop’e in fa* cities throughout North i Jtjfolina > and adjoining states in the larger cities of the U,. {J. now can refer to the Eden lm;'Pity Directory. Distribution IB‘the new book to these points made at this time, the Brnnounced. The ser ins through the con free-reference out rectory Library sys ed by the members ssociation of North Jirectory Publishers. Christmas | SPECIAL 1 •i * SUNBEAM | Electric | RAZORS SPECIAL I iMM LIMITED SUPPLY! J HOLLOWELL’S I Rexall Drug Store J ■i phone 2127 —We Deliver jf n —i p «! J /Mm I wjf Band’s Christmas Concert Friday Night Continued from Page 1. Section 1 toodum, arranged for band by John Kinyon. March Western Caravan, Don Keller; The Syncopated Clock, Leroy Anderson; The Nutcracker Suite, P. ‘ I. Tschaikowsky; Marche, Dance of the Sugar Plum Fairy, Arabian Dance, Waltz of the Flowers, Russian Dance. Members of the band, directed by Derwood Bray, include the following: Piccolo—Patsy Mooney. Flutes Pasty MOoney, John etta Davenport, Carmen Good win, Nellie Wood, Oboes Priscilla Bunch, Joe Stone. E-Flat 'Clarient Ellen Bas night. B-Flat Clarinets Bud Skiles, Dick Hobowsky, Judy. Elliott, Anita Sextcn, Gloria Cruimmey, Linda Wheeler, Peggy Williams, Glenna Quinn, Ann Hobbs, Johnny Floars, Carol Phipps, Phyllis Boucher, Sandra Cale, Dianthia Sexton, Ellene Tark ington. Alto Clarinet—Carolyn Twid dy. Bass Clarinets—Dianne Good win, Mary Anne Overton, Bar bara Layton. French Horns Karen Hollo well, Jerry Yarborough, Vern Goodwin, Peggy Ward. Trumpets—Jimmy Jones, Carol Dean Twiddy. Cornets—Bob Powell, Carolyn Stallings, John Bunch, Tim Over man, Tommy Leary, Judy By-1 rum, Joan Goodwin, Patsy Twid dy, Steve Garland, Frances Pri vott, Steven Ferguson, Jim El liott, Joe Conger, 111, Lee Nixon. Tenor Trombones Mac Pri vott, Earl Wayne Bunch, James Morgan, Herbie Hollowell. Bass Trombones —C. T. Mi zelle, John Martin. Baritones—Ronnie Sawyer, H. L. Edwards, Jr., Ernest Culli pher. String Bass—Billy Harrell. Basses—Charles Wood, Ronnie Rountree, Durrell Ambrose, Ran dy Copeland. Timpani—Bill Bootwright. Percussion Douglas Sexton, Marshall Boutwell, Tommy Park er, Tony Hughes, J. J. Ellen. Edenton Police Arrest 45 During November Chief of Police George I. Dail reports that during November Edenton police made a total of 45 arrests, of which 42 were found guilty as charged. Those arrested included 23 white males, two white females, 18 colored males and two colored females. Leading .the arrests were 16 for miscellaneous traffic violations, followed by eight for being drunk. Fines amounted to $248.75 and costs $460.05, or a total of $708.60. Os this amount $150.25 was turned back to the town in way of officers’ fees. Activities of the police in No vember included 35 -cals an swered and investigated, five accidents investigated, one stolen automobile recovered, eight fun erals worked, 29 courtesies ex tended, 31 doors found unlocked, one fire call answered., 13 lights reported out and 342 parking ci tations issued. The police made 1,110 radio calls and were on the air one hour, 32 minutes and 30 seconds. Let any man but look back upon his own life and see what use he has made of his reason, how little he has consulted it, and how less he has followed it. —William Law. THE CHOWAN HERALD, EDENTON, NORTH CAROLINA, THURSDAY. DECEMBER 17. 1959. The National Outlook The Federal Reserve Moves on Credit By Ralph Robev \» - , , ,r nj-i-L U-U-.1-U—IJ—LTLJ—IJ- ii-i I-1.1- - - rill rv * Every bank in the nation is re quired by law to keep a reserve against its deposits. The pur- I pose of this legal provision is to limit the lending power of banks, and it is effective in this re gard because most. deposits are the result of loans or invest ments. The amount of the re serve is always stated as a per centage, and varies rather wide ly. On the average it amounts to about one-sixth of the volume of deposits. The Federal Reserve System exercises its control over the credit system, and the money supply, by influencing the re serve position of the commercial banks. If it is desired to lessen credit expansion the Federal Reserve takes steps to tighten the reserve position of the com mercial banks, if greater credit exponsion is .desired the reserve position of me commercial banks is eased. A Gentle Rein For many months the Reserve authorities have held a mild re straining j oin on the lending j power of the commercial banks, by keeping these institutions in hock to the Reserve Banks by j approximately S4OO million. This] I has not been a matter of shut-i ting off credit. It has merel\ been a policy of keeping credit l expansion in reasonable bounds How does the Reserve System exercise such control? There are three ways: First the Reserve Banks may change the rediscount rate. This is the fee charged com mercial banks when they borrow from the Reserve Banks. As the rediscount r?*e goes up, so will the rate charged its busi ness customers by commercial banks. Second is open market opera tions. This is the buying or selling of U. S. Treasury obli- SEARS ROEBUCK AND CO NEXT-DAY DELIVERY of catalog orders! Catalog orders placed before noon on Saturday, December 19 and before 2:00 p.m. Monday, [Tuesday and Wednesday, De ; cember 21,22 and 23rd will be j ready for pick-up the following no extra cost for this expedited service! shop in person or order by phone! DIAL 2186 "Satisfaction guaranteed A "D C or your money back’* 325 S. Broad St ' 11 EdentoHj N« C STORE HOURS: v ■ gations. Such purchases or ! sales are handled by credits or debits on the books of the Fed i eral Reserve Banks and thus , have a direct effect upon mem ! ber banks’ reserves. Since these :' operations may be either small or ■ j large, this is the method used by the Reserve authorities for their day by day operatioi. Third is a change in the re > [ serve requirements themselves. :! This is a truly massive power I and can be used only when the i ! monetary authorities want to • j sake an enormous change in the • lending power of commercial banks. Tha power has been I used many times in the past, but i it does not lend itself to week by-week operations. As a part of the reserve re quirements power the Reserve . Board lequcslod and obtained in the last session of the Congress I the authority to count any or i all of the vault cash of banks as j reserve. This is a most import 1J ant power because heretofore only deposits with the Reserve Banks could be counted as re , J serve. It also is important be- II cause by making such changes j he Federal Reserve has another j| sensitive power for regulating 1 reserves. Reason For This Discussion Why bring up this whole sub lect now? It is brought up be cause the Federal Reserve au ’ thorities a few days ago issued | an order which, permitted an es | timated $230 million of vault cash to be counted as part of : the legal reserve. The net effect | of this action is to reduce by that ; amount the volume of Treasury i obligations that otherwise would have had to be purchased to I meet the seasonal Christmas de mand for cash and credit. The action does not indicate a ■ j basic change in Federal Reserve policy. In other words, there is Special for late shoppers NO TEARS HERE —Contrary to the usual behavior of a pros- j pective mother-in-law, the mother of Farah Diba grins broadly ; as she meets her daughter in Teheran, Iran. Miss Diba re turned from Paris after buying wedding clothes for her mar- ' rige next month to the Shah of Iran. no basis for assuming that in terts rates will fall within the next several months. Aces Again Tackle Chowan High Cagers By BILL GOODWIN The Edenton Aces and the Chowan Bulldogs square off at each other for the first time in three years Thursday night in the local gymnasium. The girls will start the action at 7 ,’clock. The Aces have dropped their first three contests and will be out to break into the win column. Windsor beat the locals 42-41, Washington by a 57-38 score and Elizabeth City by 35- 29. Johnny Phillips has paced the Aces’ attack, scoring 13. 14 and 11 points in each of the j $ ftA i * $$ $$ $$ ik ;o; ssksk'isAsoAAaaaAAA AAAAAAAAA A A A A A A A A S ; L 6 ' bt ;wf * iC; J: fl- 5 .« •< :< >. 1 ; '< *; Jb 11 • p| :< 11 3i;....L0 g|pS 11 ~».... —. Id&m «; t i f Super Market £: EDENTON, N. C. Free Delivery i iC! EVERY DAY ... - £ PHONE 2317 j 2: r ; 2: 303 CANS RED & WHITE ’ 5: Whole Grain | GOLDEN CORN j if 2 cans 35e f | l-LB. PKG. FRESH Frozen - :5: SUNSHINE'S FANCY \ $ CHRISTMAS ! j* CANDIES j |S 15-o*. Pkg. i |f Hard Mixed Candy 29ci 5 Peach Blossom . . . 29c i i&i 1 Lb. Pkg. j IS Filled Candy 39c 'M 2'A-Lb. Bag "M Hard Candy 65c m :T: 303 cans delmonte jjj LIMA BEANS can 25c l-LB. J2-OZ. BAG TV POPCORN S hag 39 c 1 #mnwMmwmmw* . three games. The Bulldogs have compiled a 4-6 wen-loss record, but four of the losses were by two and three point margins. Jeff Ward and Edgar Ray Jot dan have led the I Chowan forces. The Acelets have made only one appearance, losing to Wind ■ sor. Sara Relfe Sm th and Mary Anne Overton scored 14 and 12 points respectively in that game. A,: - Conference guard Norma | Blanchard ran into foul trouble 1 ' against Windsor and was not around to give her usual per ■ formance. The Chowan girls have man i; aged to break even in their ten > j games. They have lost three II games by one-point margins. -; The action Thursday night will j 1, finish the scheaule for both' 1 schools Until after the Christmas s holidays. 3»*wsJ«is fcasSsss t.t-c 'i.-»os-s ?>a sss. I Juicy Delicious | I JIFFY STEAKS I !. 'b. 79c | & CS'tj I Fresh Ground t I HAMBURGER f I ib. 49c » afa »s »a | Extra Special J % l-LB. KINGAN'S HIGRADE I | Rolled Pure Pork Sausage } $ t 12-OZ. PKG. | | Higrade All Meat Franks | | l-LB. PKG. ;P I Richmond Brand Bacon f f ALL THREE ITEMS f I 99c | 28-OZ. JAR NONE SUCH f | MINCE MEAT § I jar 55 c ! a J at 4 ass-a »-■ ... \. j fymwmSzmlQ show you our wide selection \ V and help you with your choice. tty.. A shadow slim water-1 a i "trot* 17 jewels, shock-1 ' \ luminous hands and dial. Testing Co.. Inc. ill 1 I J Ross Jewelers 1 : rf Phone 3525 Edenton p 1 "yWe-nroof os long on C 3« a ~./.-Vr-; •-■■■ • ■ fr fodprpf Tqit KH Vlist ■■■■ * A “a :V ft | HaruTs Smoked ! TENDERIZED s ! HAMS i I ib. 55c I | (whole or half) if; | NEW CORNED PICNIC if ! Shoulders * iC; | lb- 3 C | | Let’s eat Turkey and Ham for ! . j Christmas . . . We have the if: I famous Swift Butterball Tur- I keys All sizes. Also Corn- >; |ed Hams, Jordan’s famous >! I Country Hams and Harrell’s l Country Style Hams ... all if ' these competitively priced! 5f l 'ss crccj SS:«S !jy i Cranberry | Sauce ; caulQp fyr~x\i > ! - | Apple Sauce | | 2 cans 27c I * 8-CZ. BAG PEPPERIDGE FARMS bag f Turkey Stuffing 29c »►; i' ftia Bjg.Baar>^gjk a a>.afi>a»Jvsa-«WaH>iia f 10J/4-OZ. SUNSHINE FUDGE-CENTER 1 Marshmallow Queens '& | pkg. 39c | i a» ‘JK [SHOP AND SAVE Pt the * i friendly D & M Super Market x l. . . Plenty of Free Parking \ Space Available! $ mmwMmwmnmmm PAGE THREE \—SECTION ON. J. B. Harrison, 23,830. 4.—Mrs. H. A. Campen and Mrs. A. M. Forehand, 21,140. j s.—Mrs. George Hoskins and Mrs. Albert Byrum, 19,890. ! 6.—Mrs. L. A. Patterson arid Mrs. W. B. Rosevear, 19,380. 7. —Mrs. Clarence Leary and Mrs. A. B. Harless, Sr., 18,880. 8. Belch and C. A. i Phillips, 18,880. 9. —Cecil Fry and Mrs. J. M. -I Thorud, 18,850. 10. Harrell and Richard : Atkinson, 18,510. THY A HERALD CLASSIFIED!