Newspapers / The Cherokee Scout (Murphy, … / May 26, 1933, edition 1 / Page 1
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II ^T4 [ If The Leading fl Vol. XLIV.No. 43. OFFSET LAW LOSES OUT IN FIRST SKIRMISH Action Destroys Hopes Of People (In Thus County FTrsdinj Closed Banks Paper The Sullivan offset law, which ' irculil ail' w depositors and creditors of closed barks in Buncombe and 43 i ,?tlier counties, including Cherokee1 tad Clay. iVt out in its first skirm- 1 ih in superior cotfrt this week when i: was held unc nstitutional by Judge I Felix Ail-.v. before whom the hear- I ag was held. The next .step will be I i ruling by the Supreme Court, and \ the most optimistic have admitted' that the ruling of the lower court will I Ekclv be upheld. The action destroyed the hopes o! the pcoplt n the counties affected lor trading their certificates of de- i posits and open accounts among one I ?r.other and applying them on notes ' tela by the hank. The action also ! ctres as a bl??w to officials and ethers of tht Bank of Murphy who J~-l ?hcmoa1?ac Hpvc iraucii aiMvag ku?uuv??vu ?ii>. offset some thirty or forty thousand dollafrs of the banks paper. | The statement of the condition of ! tie Bank ui Murphy, filed with the court clerk after the bank closed j las*. February, shows that when the , bank first closed on November 21, 1930, there were $273,945.16 loan? outstanding, against $144,483.83 in loans outstanding when it closed Feb. 14, 1933, a reduction of $129,439.33 in the two years period it operated following a reorganization and re-opening in March, 1931. A large amount of this $129,000.00 reduction was paid off, while a large amount of it was offset by trading accounts and certificates of deposit again>t notes held by the bank, some $30,000.00 of which is listed in the report. .* The au lit repo'rt, following the close cf the bank the :?econd time, was made by*"W. Bowen Henderson, certified public accountant, of Asheville. In his letter of transmittal to the hanking commissioner, Mr. Henderson list.- $31,000.00 of these loans and the offsets and calls attention to the fact that such trading had received some criticism from interested people. Auditor's Comment In his lette'r of transmittal, Mr. HmHarcjMt in nn??- ea,.a. "Pursuant to engagement, I have made an audit of the books and records of the Bank of Murphy, Murohy, X. C.. at its office in Muphy, for the prriod from November 21, 1-30, through February 14, 1933, and submit report. 'The hank was organized in 1898, and begun operations in Janua'ry, 1399. The bank closed in November, 1930. and asked the Corporation Commission to send its representative to take charge of the bank's affai?pas^ng a 'resolution to that effect which was recorded on the minutes of the meetings. The bank reopened March 2, 1931, under an agreement with over 90% of the de^ito'rs to allow their deposits to reroam intact for a period of two years. The two year period ended February 14, 1933 and the bank was sgain closed. Loans and Discounts "When the bank closed, November 21,1930. theYe were $273,945.16 Outstanding as against $144,483.83 at the date of thi9 examin*bon, a reduction of $129,459.33 !?_?e ^w?year period. Much offset ?'?K was done in the second year of the operation under the re-opening agreement, which received much criticism, and which was called to the attention of the Commissioner of Banks by interested persons. The Commissioner of Banks wrote tfce Bank of Murphy in October, 1932, asking that this practice be stopped, since which time there have been no off-set* made. The items which were criticised most are enumerated here for your formation: 'Cherokee County Note, No. 47105 jjt-d October 7, due Dec. 7,1930, 510.000.00 The County paid cash in the amount of *3.763.81. Leaving a balon thc notc of $6,238.19. This amount was off-set by cerV v^t8 .?* deposit of J. W. and oah Lovingood, to whom the county ote was delivered. At the date of 1S pagination, the records of the SmL disclofHi the fact that only bas since been paid on the l and that amount was credited ? th* Payment of taxes to the counTown of Murphy Note No. 47158 - ? (Continued on pago S) 1 ft ?ff Veekly Newspaper in Western Nortk Murphey, N. LIONS NAME DELEGATES TO ASHEV1LLE MEET H. G. Elkins and Dr. E. E. Adam? | were named delegate.-- to the -tan : convention of Lions club:- which metin Asheville about the middl- of -Tune. They were olfoted at f gular meeting of the Murphy Lion? club \ Tuesday night. W. M. Fain, president of th local club is a member of the convention directors, and will also attend. Tr.iwill give the local Lions club three votes in the state convention. Plans wer. made for attending the charter night meeting at Blairsville, I which has been postponed until the j night of June 3WL The Murphy ! club sponsored the club at Flairs-. ville which was organized recently bv , J. Barnett Naiper. commissioner of Lions International. I'resident Fain read a letter from Chairman Jeff res, of the State Highway Commission, relative to the building of the road between Mur- . phy and Blue Ridge, by way of Cul- | berson, in which he stated that this j road would be built in the future, I but no definite time was given as to when work would be started. I DISTRICT RAR I ENDORSESHILL FOR JUDGE Meeting Held At Murphy Last Friday Night?Robbinsville Gets Next Meet The 20th Judicial District Ba'r Association endorsed Judge Frank S. i Hill ,of Murphy, for re-appointment as a special judge, minutes of the meeting held at the Dickey Hotel here last Friday night May 10th reveal. The'minutes of the meeting follow: Present, M. W. Bell, President, and the following members: S. W. Black, McKinley Edwards, Irvin T. Crawford Baxter Jones, Edwin L>, Whitaker of Bryson City; R. L. Phillips of Robbinsville, D. Witherspoon, Ralph Moody, J. B. Gray, F. O. Chistopher, J. D. Mallonee, Ha'rry P. Cooper, and Hattie Axley, Acting Secretary in the absence ot George Patton, Secretary, S. G. Owens. W. Bo wen Henderson and others. After an elegant ginnefr, the following proceedings are had: (The Executive Committee com posed of Mr. Johnson of Waynesville Mr. Norvell of Murphy and Mr. Sher'rill of Sylva are not present. Mr. Ralph Moody, chairman of the Membership CommitUe states he has no report. (The Grievance Committe made no report. Mr. R. L. Phillips of Robbinsville makes an interesting talk upon the relationship of the members of the Far, followed by Mr. D. Witherspoon who made an excellent talk upon the same subject. Mr. J. D. Mallonee, Mr. H. P. Cooper, MV*. F. O. Christopher, Mr. Black, Mr. Jones,, Mr. Owens and Mr. Bell all addre.-'sed the Association most pleasantly and contributed to the happy frame of mind which characterized this meeting. It was ordered on motion and by vote of the numbers .that the next Quarterly meeting of the Twentieth Judicial District Bar Association of No'rth Carolina will be held at RobI K r at 7:30 P. M. (E.S. T.) on August 18th, 1933, and the members of the Local Bar of Robbinsville are expected to designate one or two speakers for that occasion. It was announced that a new president would have to be elected at the Robbinsville met ting, the president not being eligible for e-election. A rising vote of thanks is extended to Mrs. Nettie Dickey for the most splendid dinner served to the Association, which they enjoyed to the fullest extent, and which she graced with her sweet presence. Mr. Whitaker submitted the following resolution endorsing Judgo Frank S. Hill for re-appointment as Special Judge: "Be it resolved by the Twentieth Judicial District Bar Association in 'regular quarterly session in Murphy, N. C. on the evening of May 19th, 1933; 1. Tthat this Association does unqualifiedly endorse the Hon. Frank S. Hill, of Murphy, X. C. for reappointment as one of the Special Judges of the Superior Court of North Carolina. 2. That this Association does re rrufet! Carolina, Covering a Large and Pot C., Friday, May 26, 1933 REGIONAL FARM MEETING HELD Interesting Progran is Given At Catrpbell Folk School Friday Night About SO persons attended the meeting of thi garden s et: n of the Regional Council of the 5-10 year farm ; r gam which was held at the John C. Campbell Folk School at Bia-stcwn last Friday night. The guists began to a'rrive about 1 o'clock in the afternoon, and went ov r the farm and were shown the faint house and Keith House. They then assembled in the community room and Mrs. John C. Campbell spoke ol general conditions and h? w the folk school is attempting to meet them. All th n lenaired to the school dining room, where supper was served, cafeteria style, by the* folk school, the Women's club, and the Men's club. Osborne Preside* After supptr, they again assembled in the community room for the progtam of the evening. J. Arthur O.*borne, of Canton, general chairman of the 5-10 year farm program In Western NoHth Caroling, presided, and called upon representatives from j represented by K. W. Gtu\, county | short talks. Cherokee county was each county, who responded with farm agent and chairman of relief, and R. A. Dewar, of Andrews, a.-sistant director of relief; Clay county by County agent Allison, and Mrs. K. H. Foard, home demonstration agent; Macon county by county agent Fred Sloan and Miss ijavis, superintendent of public welfare; Graham county by County Agent \\. B". Wiggins, and Mrs. C. A. Bayles, of Tapoco chairman of relief; Jackson county, by Mis. John C. Jones, chairman of the 5-10 year program, and | County Agent K. V. Vestal; and Haywood county by C. L). Smith, vocational agriculture teacher. A. V .Adams, of Cherok farm agent lor the Ch lokee Indian Reservation, spoke of the work of the Indians and said they were receiving no Fede'ral aid, but were making thi ir own way by co-operation. Miss Maiguerite Butler read a telegram from Bruce Webb, of Asheville who is in a hospital in Kentucky, which contained a message of good will and 'rigrets that he was not able to be present. A return message was sent Mr. Webb, wishing him a speedy J recovery and return to his work. I Join In Singing Games 1 The meeting came to a close with , singing games and folk dances with! out which no meeting at the folk ' school is complete. The entire group joined in these games. Those from Muphy attending the meeting were Mr. and M'rs. R. W. Gray, Mr. and Mrs W. M. Fain, Mrs. Pleasants, home demonstration agent, William P. Payne, Homer Ricks, aiul other members of the ielief council in the county. From Swain county were Mrs. Xora Lee Calhoun, in charge of the women's work in Swain c.ounty; I. A. McLain, chairman of Swain county farm 'relief; V. A. frowning, chairman of the 5-10 year group in Swain county, H. P. Browning and Frank DeHart, Held workers for the R. F. C. wo'rk in Swain county^ W. B. Wiggins, Graham county farm agent, Mrs. Clarence Bales, Clifford George, W .C. Collins, Jesse W. Crisp, and Jesse X. Hyde attending from Robbinsville. spectfully request anil urge His ExI cellrncy, J. C. B. Ehringhaus, Gov| ernor of the State of North Caro lina, upon expiration ol the present commission of said Frank S. Hill as a Special Judge of the Superior Courts of the State, to reappoint him as such Special Judge. 3. That a copy of this resolution be spread upon the minutes of the Association and that copies of same under the hands of the President and Secretary 'be funished Governor Erhinghaus and Judge Hill. Done in regular meeting assembled in Murphy. N. C., this the 19th day of May. 1933." Several members made remarks to the motion commerdatory of Judge Hill. It is ordered upon motion and vote that the foegoing resolutions be signed by the President and Secretary and forwa'rded to the Governor of North Carolina. Mr. R. L. Phillips made a brief talk commending the court reporters of this district. The meeting adjourned to meet at Robbinsville. N. C. on August 18th, 1933. entially Rich Territory in This S YOUNGEST PAGE IN LEGISLATURE RETURNS HOME Nick Posey has returned to hi: home here aft-r serving as page ii the General Assembly for the pas four and one halt months. X'- ' > . ** ? A T -'an is me son in .ui. ctuu .uu John Po.-v-y, and the grandson of th< late Ben Posey, noted criminal law y r of Murphy. He was the young t.-t page in the General Assembly having reached his 11th birthda; annivtrsaiy about a month ago. H ha. S280 in postal savings, which h said he is going to use for his col lege education. While in Raleigli he made his home with his gand mother, Mrs. T. B. Lawrence, am his uncles, D'r. Ben Lawrencv an Will Lawence. Nick said he liked Raleigh fin and would like to go back next yeai but th^re is no place quite like Mui phy. although his mother put him t work in the garden as soon as he go home. While playing baseball a few day ago, his left thumb was rather pair fully injifred when the ball struck i on the end. FUNERAL HELD nr* iron a. \/ rTvn 1 i r ui\ MRS. RVJSSEL1 Funeral services for Mrs. D. J idence KJUhetaoinetaoinunioatetio Russell 76, of Andresw, N. C. wu held from the residence Tuesda afternoon, May 23, at 3 o'clock wit the Rev. \V. G. McFarland, the Re K. S. Eskidge, Rev. E. F. Trout mo and Rev R. W. Prevost participatini Music was rendered by members < the choirs of all the churches of tl town. The pallbearesr were: W. S. Ca houn, L. M. Ellis, G. W. Cover, Ji W D. Whitaker, C H. Jarrett, L. 1 ichols, G. B. Hoblilzell, Lie Wa kins, A. B. Chandler, Sr. and D. 1 Tillitt. Honorary pallbearers wer Lr. F. L. Herbert, Dr. B. G. Web ! D. C. V Orr, Dr J. E Tidwell, J. V Walker, B. P. Grant, R. T. Heato j J. A. Tatham, J. W. Porter, C. Y Woodward, J. R. Leach, W. C. Ban lin and John Fisher. Mr&. Russell had been ill for se eral months an her death Mondi was not unexpected. Before her ma riage to Mr. Ru?tsll she was Mis Ha tie Blackwelder of Old Fort and wj a member of one of the uioneer far ilies of Western North Carolina. SI and Mr. Russell celebrated the fifty-ffrst wedding anniversary last September. Thiy had lived Andrews forty-eiglit years, comb hexe before the raifroad was bu and gefore the beginning of tl town. > * - T-? . 11 L surviving ;urs. rvuavn ais u husband, live daughters, Mrs. Ma Barnes of Eugene, Oregon, Mrs. M. Nicholson, Mrs. J. W. BrowMrs. Edna Tatham, all of Andrew Mrs. C. S. Johnson of Asheville, ai one son, J. Dillard Rusell of Lync burg, Va. She hds one sister ai two brothers living in Idaho. The floral tribute was unusual large and impressive. o Decoration at Peachtrt Decoration Day will be observ at Peachtree, Sunday May 28, 193 A joint program will be given by t Methodist and Baptist Sunday schoi Rev. Johnny Carper, pastor of t Methodist church, will deliver t opening address, followed by t special musical selections and appi piiate readings. Immediately aft pastor of the Baptist church, Ri the decorating: ot tne graven, i W. T. Sinclair, will deliver a serm< Everyone is cordially invited. Mayor Norvell Return Mayo'r E. F. Norvell returned t week from Raleiph. where he 1 betn since last January serving: en'rollinff clerk of the General - sembly. While away, Mr. Norvell was ele ed mayor by his fellow townsmt which is perhaps the first time in tory a mayor of Mtfrphy has be elected when absent. Another d tinction. MY. Norvell holds is the h< or of being: sworn in as mayor of M ^phy by the Chief Justice of the i premo Court. When informed of election as Mayor, Mr. Norvell w< bciore Chief Justice Stacey and tc the oath of office. He was eleel May 2nd. Sculptural Tarm cycloglyph is a comprehend composition In sculpture com parable a cycloramn or panorama In pnlntli Hit $1.00 YEAR?5c COPY | MURPHY PEOPLE : ARE OPTIMISTIC OVER OUTLOOK Rich Minrral Deposits in Cherokee r A....:*. f Development MUHPHY, May 20. (Special)?In, creased land prices, employment of v local labor, inf'ux of Federal eme ploys>, fat payrolls, and development of the long neglected iron ore and - other mineral deposits of Western i. North Caiolina are expected to fol low on the heels of the vast power J projects of the Federal government d which art to .-tart from the Tennessee Valley development, and to radie ial throughout this entire section. \ Four huge power dams have been - tentatively decided on for Cherokee e? a.nd Clay counties. Three will be in t the former county; one in the latter. Sjte.- for these structures already s have been chosen by the U. f>. Govi ernment, one of the Cherokee dams if to be located barely outside the town limits, to the northwest, at Morgan Hill; a second at the mouth of Beaverdam Cr ek; and a thfrd at Appal?..u;? Tu./i"!.,, lit. i riv v. my (.uunvv giix nao uccn chosen about, two miles below llayes^ villi. Construction not only is expected to require year?, but aLso the ?mployment of many hundreds of 3. men, and the exrienditure of millions ii of dollars. Both the payrolls of the re workers and the enormous purchase iy of >upplies, much of which probably ;h will be bought in this immediate secv. lion, should help restore conditions, in not perhaps to the affluence of the g. boom days, but nearer to normalcy )f than they have been in Western ie North Carolina fo'r a number of years. il- Will Flood Lands Still another stream of prosperity will flow into this section from the dams; and this, strangely enough, i; thtough destruction! Government engineers already have decided that construction of the dams inevitably will * tlood both the entire Peachtrce and y' Brasstown districts, putting the scores j* of farms situated the'rein under manyfeet of water. This means that all v_ thia land will have to be purchased by the government and since Uncb r_ Sam has never been niggardly in such t_ bargaining, the farm owners ate not as one whit discomfited. Quite the rtn_ verse indeed. le And, as a direct off-shoot of the jr Federal power plans, is the expected j revival of long quiescent mining injn dustry in the mountains anel liver 1K valleys. It Cherokee probably will be the cheif he beneficiary in this regard, for this county, from its v.ry beginning, has er been noted ior its veins of finest iy marble, blue, giay, and white; its L. talc its iron, and its manganese. Gold n, also, is panned from the beds of its rs, streams; especially on the outskirts id of Andrews, and occasional pockets h- have betn mined in the nearby mounM tainns, although these thus far, have soon played out. ily Deposit* Of Iron Ore Ridges of iron ore, for instance, protrude from the ea'rth, at not too *0 great distances apart, and extend almost entirely across the length of t*d Cherokee county, from the line of 3- G'raham to that of Clay. The greathe est deposits are indicated just outside dIs Andrews, and just outside Murphy, he Indeed, successful iron ore mining he has betn done in both places, yieldhe ing considerable profits which reachro" ed their peak dui/ig the World war er times. Then many carloads were ev- shipped daily. But there was no he smelter here. The shippers had to >n- load the unrefined ore ; the haul was long, and the waste in loading great. When deflation came, the price dropS pod so low that the cost of shipping the unrefined product ate up the pro . . fits; so the mines were abandoned. But with the promised cheap power ,a* from the proposed government de,a5 velopments, it is believed here that s" all this will be changed. The U. S. Steel corporation, it was learned from en~ Col. Don Witherspoon, prominent Murphy attorney, already has sent en an expert to this immediate section, lis- l??king over f?r the pro>n; posed erection of a huge electric |U1. smelter. In addition to employing ju_ many men on construction, and lat< r jjjs in operations, this would allow the ?nt ore t0 oe re^ne^ here, and the pro>0j. duce shipped without waste. Accordted to Raymond Harris, mining expert of Atlanta, Ga.. who has taken leases on several properties, a price of only $3 per ton will allow oper, ation of iron mines in Cherokee at a fair profit. to Manganese, that supeVfine quality nK- (Continued on pagt 8)
The Cherokee Scout (Murphy, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 26, 1933, edition 1
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