Newspapers / The Alamance Gleaner (Graham, … / July 17, 1930, edition 1 / Page 2
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1 HE GLEANER GRAHAM. N. O., JULY 17, 1930. ISSUED KVKKY THURSDAY . J. D. KERNODLE, Editor. j $1.00 A YEAR, IN ADVANCE. Entered at ttio Posfofflce at Uraham, N. 0.. mm hhm>..u-o1hm matter OTTO WOOD OUT AGAIN. For the fourth time Otto Wood, the slayer of tlie Greensboro pawn broker, escaped from the .State prison last Thursday. It was in the afternoon, but lie was not missed till the night check-up was made. Gov. Uarduer assumes responsi bility, having taken him from solitary confinement upon the promise that he would not at tempt to get away. Otto violated his pledge. It is said there's a woman in the romance; that a woman whose name has not been giveu out was more thuu an accasioual visitor at the prison, Otto being the special attraction for her. For one who can spring surpris es such its Otto has and afford the newspaper reader a series ofthrils, there caunot be suppressed a sort of grim admiration. It is suspected there is a lot of folks who won't care much if he never comes back again, however much they stand for vindication. Independent merchants will put on a smile of satisfaction, no doubt, when they read that a re ceiver has been named for the 150 Clarence Saunders chain stores. 10,500 bushels of wheat is re ported to have just been threshed ou the Caledonia State prison farm. That will furnish lots of bread for.the prison inmates. It should be enough to bread arouud 2,000, but the prison population has grown v^ry fast in the past year or two. The Senate is progressing slow ly, but noisily, with the aruiauieut reduction treaty. President Hoover called the Senate together to coufirm the pact, but opposition has developed to the extent that its approval is in doubt. Henry Cabot Lodge, dead, viciously op posed the Paris treaty in Wood row Wilson's day,and it seems his mantle has been handed down. Nebraska Republicans have au anomalous situatiou in this Sena* torial campaign. Senator Geo. W. Norris is a candidate to suc ceed himself and there is frictiou between him and the "regulars on account of his erratic notions and his support of Alfred E. Smith in 1928. To compass his defeat or give him a world of worry, another Geo. W. Norris has been found by the autis to oppose hitn. As the law permits no design to be placed on a ballot, the voters will go it Wind and nominato 'Geo. W. Norris" for Senator. Three thousand North Caroliua farmers and farm women are ex pected to attend the annual con vention at State College, July 28 to August 1. Plans are made for building the 22nd sweet potato curing house in Martin county. Most of the houses average 500 bushels in capacity. Counts made of punctured squares in the cotton fields of Wilson county show an infesta tion running from 9 to 41 percent says W. L. Adams, county agent. Another step in building back the beef cattle industry of Jaek son county was made recently when Tyra Davis purchased a pure bred Shorthorn bull. Richmond commission mer chants report the best tiuisbed hogs coming from North Carolina this season were shipped by farm ers of Johnston and Edgecombe counties. Fine prospects for a good cdrn crop are reported from all parte of Northeastern Caroliua by coun ty farm agents. In some couutiee the acreage has been increased by 40 percent this season. ParmeriTof Davidson county report a good quality of grain but no large yield this season. The average for barley is reported at 3$ bushels an acre; wheat, xj bushels; rye, 22 bushels. Did You Ever Stop To Think (Copyright 1928) By Edison It .Waite, Shawnee, Okla VV. L. Clause, chairman of tbe board of the I'illburgh plate glass company, says: That the Sherman law was pas sed ill response to public clamor and was based on ignorance ?ig norance of fundamental economic tendencies which have in the past generation revolutionized produc tion and distribution of most of our manufactured products It was passed to prevent the consol idation of individual companies into single units with centralized control and management. The best evideuce that it has failed is the fact that most of the great consolidations have been formed since the Act was passed. It has failed because these consolidations (so-called large business) have come into existence in response to gjeat fundamental laws that are not man made, but are found ed on economic necessity and not on inisconceptiod. Has there been a single successful prosecu j tion under the Sherman law. (which could nut have been brought under the common law) that has been of any value to the public? The Clayton Act was enacted in response to substantially the same clamor. The "New Freedom" written by Woodrow Wilson as a campaign document was predicat ed upon the assumption that every branch of our economic life was being strangled by monopoly. The Clayton Act Has passed and the Federal Trade Commission was created to ferret out these monopolies and bring them to jus tice. So far as 1 know, there have been practically unsuccessful pro secutions against monopoly under the Clayton Act, because no mo nopolies have taen found For a considerable time the Federal Trade Commission spent its time snooping around, haras-dug so called "big business", but after this had run its frtritless course, it settled down to hearing and settling cases of unethical busi ness practices, which have in no way particularly related to big business. In this tield, i think the commission has duuc some consructiye work. When we got into the war, the first thing the government did was to cull in "big business" to help win it. In order to be efficient, it was forced to adopt the very methods that the Sherman Act and the claytou act condemned. The revolutions that have taken place in manufacturing methuds have been largely the result of the scientific research carried on by big business, involving expendi tures that were far beyond the means of small companies. These revolutions have sooner or later worked to.the advantage of all en gaged iu the same line of busi ness. An examination of our ex ports will show that the greut in crease in our exports is largely of .manufactured products, produced I by the large companies. Our large corporations hive been pio neers in establishing tatter con ditions for and with labor. I do not pretend to say that all great corporations are angels of light or that they have been en tirely free from evil practices, but they have learned and profited by experience and on the whole business ethics have greatly im proved. The "public be damned" policy is uuprofit,able anyway, and is largely a thing of the past. No 'doubt, those who read this will 'say it is partisan. I admit it, but jnevertheless, is it not Ute truth? Hail and Wind Storm Hits Wayne ? County. Oil Wednesday afternoon about ?1 o'clock a very destructive wind I and hail storm hit Wayne county. It was in tho Seven Springs sec 1 lion and spent itself tour miles 'southeast of Qoldsboro. The path was narrow, but in it corn, tobac co, nel6ns, and other cro[M< were destroyed. Fruit was knocked off the trees, several barns were blown down, and trees snapped off' Ditches were filled with larc? hail stones. There are now 324 pure bred , Jerseys in Caldwell county ac ? cording to a recent couut made by P. M. Hendricks, county agent. The first such animal was import i ed into the couuty in 1913 by E. ? G. Settlemyre of Granite Falls. CASTORIA For Infants and Children | In Use For Over 30 Years t RESERVE SYSTEM'S DIVIDENDS ANALYZED ? Bankers Find Increased Pay ments to Member Banks Would Be Small Inducement Various proposals that member hanks In the Federal Reserve System should participate more largely In Its net earnings through an Increase In tho dividend rate above the present lived 6 per cent "would be a very small financial inducement" to them, it is declared in a recent study ot this subject by the Economic Policy Com mission of the American Bankers As sociation. This is shown, the commis sion says, by a theoretical forecast, on the basis of the past six years, of ad ditional earnings that would be dis bursed to member banks during the next six years under two plans intro duced in bills before the United States Senate. "The Fletcher bill provides that Federal Reserve Bank earnings, after present 6 per cent dividends to meiiP hers and completion of a 100 per cent surplus, should all be distributed as extra dividends to the stockholder banks," the report says. "If the earn ings of each Federal Reserve bank were distributed among its own mem bers there would be no extra divi dends in the Boston, New York, Phila adelphia, Cleveland, Chicago and San FrancLsco districts during the next 'six years, but the other six Federal Reserve Banks would pay annual ex tras at the following rates: Richmond, 0.08 per cent; Atlanta, 4.09 per cent; St. Louis, 3.50 per cent; Minneapolis, 9.51 per cent; Kansas City, 5.48 per cent; Dallas, 4.83 per cent. "If the earnings were pooled and paid out to all members in all districts each member would receive an aver age annual extra dividend of .78 per cent. Under this plan no franchise tax as now would be paid by the Fed eral Reserve Banks to the Federal _ Government. Another Plan Analyzed "The Glass bill would provide that, after present 6 per cent dividends, one-half the remainder should be paid to member banks as an extra divi dend with the residue going to sur plus and Federal Government as fran chise tax. The average annual extras to members would bo as follows: Bos ton District, 2.51 per cent; New York, .48 per cent: Philadelphia, 2.05 per cent: Cleveland, 2.09 per cent; Rich mond, 3.2S per cent; Atlanta, 4.67 per cent; Chicago, 3.20 per cent; St. Louis, 2.02 per cent:' Minneapolis, 4.75 per I cent: Kansas City, 2.74 per cent; Dal las, 3.31 per cent; San Francisco, 1.87 per cent. "If these extra funds were pooled the result would be an extra average an nual dividend of 1.73 per cent for each member. Under this plan the system would still pay as now an annua) fran chise tax, amounting to $1,941,996 on the average." By way of concrete instance, the report says, a member bank having capital and surplus of $200,000, there fore holding Federal Reserve Bank stock amounting to $6,000 on which it is receiving $360 under the present 6 per cent dividend arrangement, would with the addition of each 1 per cent I to the dividend rate receive an addi tional income of $60 a year. "If each member bank will figure [ out for itself the dollar-and-cents gain it would eniov we are confident it will be agreed that the gains are small as against the economic disadvantages which can be pointed out," it con cludes. Who is this man WOODCOCK? There is h new man sitting in a bare little office in Washington thai all the newspapers are writ ing about. His name is Wood cock. Col. Amos Walter Wright Woodcock to give him his full name and title. Colonel Woodcock is the new Prohibition Administrator for the United States. The story of this man who will have such far reaching influence on prohibition in this country is told in the New Christian Herald. This story of Woodcock is typic al of the warin-lilooded human interest stories that are being jpublhhed in the new Christian I Herald. If you haven't seen the ! new. Christian Herald you are uiis t sing a real treat. This famous | old religious magazine has become ' one of the most modern magazines [in America. It is as interesting Tls the great secular magazines I Head it for a few mouths and see for yourself. Regular price $'2.0C a year. Special Introductory price, 8 mouths (35 issues) foi *1 00. Thk Alamance Gleaner:? For the $1.00 I am handing yot with this coupon please send mi the next 35 issues of the n^v Christian Herald. Name Address : Large Desk Blotters, l9x 24 inchei Colors?white, cherry, orange red, pink, moss green, dark am light blue, Nile green, gray buff aud purple, for sale at Thi Gleaner Office. News of Whitsett. Mrs. Margaret Cobb 101 Years Old ' Aug- 3rd?400th Anniversary of Augsburg Confession To Be Ob served at?Friedens WhitSett, N. C\, July 15?Mrs. G. W. McClanalian ami Mrs. W. T. Whitsett left early this morn ing for Salisbury where they will attend the sessions of the Hoinei Mission Society of the United' Lutheran church in North Car-! olina. The convention will close, Thursday. The sessions are to be held iu the new St. John's, I church. Miss Mamie D. Moore of Bur lington was here yes'erday visit-1 ing her grandparents, Mr. and Mrs. G. W. Davenport. Next Sunday, July 20t|i, the Friedens pastorate, consisting of Friedens, Peace, and Sharon churches, will bold a special cele bration in honor of the 400th an ' niversary of the Augsbnrg con 1 fession which was made June 25, 1530. The exercises will be held ; at Friedens and will consist of a 'special historical address, music, i and other features, beginning at 11a. in. Mrs. R. K. Davenport and [daughter, Doris, who have been. | here for several days visiting re latives, returned to their homes at Willow Springs, iu Wake conn | ty, yesterday. Misses Lois lluflines and Carrie i Brewer Whitsott have returned | from a visit to Pinehurst and ' Southern Pines. Supt. and Mrs. R. G. Fitzgerald and children of Greenville, N. C., spent Saturday tiere with Mr. and Mrs. T. L. Fitzgerald. G. W. Davenport who has been 1 quite sick for the past two weeks, is still confined to his room. j. w.summers spent yesterday in Raleigh, and reports that fine rains have fallen throughout that section during the past few days. Mrs. Milton J. Bieber of Phila delphia, Pa., who has been here for the past two weeks assisting l in the Friedens daily vacation Bible School has gone to Salis : bury to attend the convention Snow in session there. On last' ' Sunday evening she gave a very | interesting description of the mis sion york that ie being done among Indian tribes, and present ed a fine pageant showing a dozen or more representative characters j dressed in full Indian costume,: and rendering several Indiau j songs. The continued dry weather in this vicinity was broken today by fine showers throughout the day. I Many tobacco farmers have been ! forced to cut tobacco and attempt its cure because of the drought, although tobacco generally is still in an immature state. Rev. G. L. Whiteley who was pastor at Springwood Presbyter ian church frtm 1918 to 1025 was 'a pleasant visitor this week and on Sunday evening made an Ad dress before the Springwood Christian Endeavor Society. lie is now located in Roanoke, Va. Friends have received cards an nouncing the approaching mar riage in Blackstone, Va., on Aug ust 2nd, of Mr. Howard Graves Holt and Miss Virginia Southall Hardy. Both are popular young people, known to a wide circle of acquaintances. Tluy will make their home in Burlington, the home of the groom. Mrs. Margaret Cobb, whose home is near McLeansville, will be one hundred and one years old on August 3rd She is a grand daughter ot Capt. Peter Sum mers who served in the American, 'i Revolution. Her father was the late Ludwiek W. Summers. A THOUGHT "for SUNDAY By Amos R. Wells A Butcher Shop with a Carpet on the Flpor. Tiie newspaper gives us the ex i hilars! ing news that a New York , i City butcher shop is to have ruga ,ion the floor instead of sawdust. It is to have the appearauce of a I "swell jewelry store," as its proud .! proprietor asserts. It is to be a II "shoppe" instead of a shop. The The selling of meat is to become .: a fine art. Why should not all such places as groceries, meat shops, and t hardware shops be made beauti ful? Cleanliness would be pro . moted thereby. Life would be made more joyous. Labor would be eleva'ed. Trade would be pro moted. There would be 00 loss but an enormous gain. Daintiuess and delicacy, loveli ness and light, pleasure and per ; fection?the world can not have too much of these. Especially I should these Ire made to minister i to the essentials of life, to those j parts of life that some inistakenly ( call lower?food, shelter, warmth, I clothing. Our cellArs should be fin radiant as our parlors, as clean and sweet and charming. Butcher "shoppes" with rugs are distinct contributions to the progress of civilization. "My heart rejoiced because of all my labor." Read Ecelesiasres 2 : 4-10. (Copyrighted Christian Herald) Commissioner's Sale Of Real Estate. Under and by virtue of the judgment and orders of the Superior Court of Alamance County made in a certain civil action therein pending, entitled "June N. Smith vs. W. G. Murray and others", the under signed will offer for sale for cash at the Courthouse door in Graham, N. C., on MONDAY, AUG. 11TH, 1930, at 12:00 o'clock, noon, the fol lowing described real property: A lot or parcel of land in Mebane, N. C., fronting on Sec ond street 75ft.,it being lot No. 13, Block 1( in the survey and plan of the said Town, and es pecially of the Calvin Tate land, acquired by the said Mebane Laud and Improvement Co., in said Town, (and developed) by W. B. Trogden, Jr. Reference is hereby made to said deed from Mebane Land and Im provement Co. to Ida May Murray, for a full and complete description of said real property. This sale subject to confirma tion of the Court. This the 9th day of July, 1930. CLARENCE ROSS, Commissioner. REPORT dF CONDITION OF The Citizens Bank OF GRAHAM. At Graham In the State of North Carolina, at the close of business, on the 30th day of June, 1930. *? RESOURCES Loans and discounts $<10,823.87 Overdrafts.....'. .. 241.44 U. 8. Bonds 4,800.00 Furniture and Fixtures 1,000.00 Cash in vault and amounts due from Approved Depository Banks 5,673 97 Checks for clearing and transit Items Due from Banks Not Approved De positories 113.03 Cash items held over 24 hours 263.02 Total $72,915.33 LIABILITIES Capital stock paid in 10,000.00 Surplus fund 5,106.25 Cndivlded profits, net amount 922.61 Reserved for Interest 184.79 ; Unearned Interest 326.18 | Demand Deposits Duo Banks Other Deposits subjoct to check 31,399.47 Cashier's checks outstanding 185 44 Time Certificates of Deposit, Due on or after 30 days 1,179.39 Savings Deposits, Due on or after 30 days 18,611.20 Hills payable 5,000.00 Collection Due Banks Total ..$72,916.38 State of North Qarollna, ) - 88 County of Alamance, J W. J. Nicks. President, J. 8. Cook. Dl rector, and H. J. Stockard, Director of the Citizens Bank, each personally appeared he me this day. and being duly sworn, each for himself, says that the foregoing report is true to the best of his knowledge and belief W, J. Nicks, President, J. 8. Cook, Director. H. J. Stockard, Director, Sworn to and subscribed before me, this the 14th day of July., 1930. T. M. Hadley, Notary Public. My commission expires Feb 2,1931. | Commissioner's Sale oi Valuable Mind. Utder and by virtue of an or der of the Superior Court, made in a Special Proceedings num bered 1320, whereto all the heirs at law of the late George W. Crawford were made parties for the purpose of selling the lands of which he died seized for division, the undersigned will offer for sale to the highest bidder, on SATURDAY. AUG. 9, 1930, 2:30 p. m. the certain tract of land j in Alamance County, known as ' home place of said George W. Crawford, in Thompson Town ship, adjoining the lands of W. C. Crawford, AnnieWebster, T. j N. Freshwater, Chas. Pender ! graph, Dan Foust and others | and lying on both sides of State Highway No! 54 and contain ing about 125 acres. This farm has been subdivid ed and will be sold in sub-divi sions or lots suitable for build ing lots and in lot3 of suitable size for small larms. The lot upon which the home place and orchard are situated contains 81 acres. All this property is convenient | to schools, churches, lays well, | is well watered, in a good ; neighborhood and soil is adapted to grain, grasses, cotton or to bacco, and State Highway No. 54 runs througs it. Time of sale: Saturday, Au gust 9, 1930,?2:30, p. m. Place of sale: On the prem ises. Terms of sale: One third cash; balance in equal sums at six and twelve months time, de ferred payments to carry inter est at six per cent from day of sale, till paid. Sale subject to confirmation by Clerk of the Superior Court. This 3rd day of July, 1930. 1 J. S. COOK, Commissioner. Mortgagee's Sale of Land! Under and by virtue of the powers contained in a certain mortgage deed executed by D. C. May and .wife, Chloa May, to the undersigned, on the 25th day ot May, 1926, and recorded in book 115 of M. Ds. at page 103, to secure the payment of a certain bond therein described, default having been made in the payment of the same, the undersigned will offer for sale to the highest bidder for cash at the Courthouse door at 12:00 o'clock, M., on SATURDAY, JULY 26, 1930, one fourth interest in the fol lowing real property in Haw River township, Alamance county, adjoining the lands of Holt-Granite Mills, C. P. Al bright and others and bounded on the North and West by said Holt-Granite Mills and on the South and S. E., by highway No. 10 and said Albright and is the same property occupied by Mrs, E. F. May as her home and upon which there is a dwel ling. Said mortgage deed conveys and there will be sold all the in terest of Dace May subject to the life estate of said Mrs. E. F. May, widow of E. F. May. Place of sale, Courthouse door: Date of Sale: July 26, 1930. at 12:00, M. Terms of Sale: Cash. This the 24th day of June, 1930. J. F. THOMPSON, C. D. MAY, Mortgagees. J. S. COOK, Atty. Notice of Sale Under Mortgage Deed. Under and by virtue of the power of eale contained in a mortgage deed duly executed by E. E. Pennington and wife, Minerva Pennington, to the un dersigned, dated the 25th day of June, 1929, recorded in the office of the Register of Deeds for Alamance County in Book of M. D. No. 113, page 272, de fault having been made in the payment of the indebtedness se cured thereby, I will, on MONDAY, AUG. 4TH, 1930, at 12:00 o'clock noon, at the Courthouse door in Graham, Alamance County, North Car olina. offer for sale to the high est bidder for cash, the follow ing described property: A certain piece or tract of land lying and being in Ala mance County, state aforesaid, in Burlington Township, and defined and described as follows: A certain tract of land in Burlington Township, being on East side of city of Burlington, facing 50 feet on Rainey street and running back 150 feet, the same being lot No. 80 in Block "F" described ou the map of the Real Estate Investment Company, made by J. W. Haeden, Civil Eng., and re corded in Book No. 1, Plat No, 38, of the Public Reg. of Ala mance County, North Carolina. Second Tract: Being lot No. 85 in Burlington Township, be ing on the East side of the city of Burlington, N. C., facing 42 ieet on Rainey street and run ning back 150 feet in block "F" described on map of the Real Estate Investment Company, ! made by J. B. Harden, Civil Eng., as recorded in Book 1, page 38 of the Public Registry of Alamance County, North Carolina. This first day of July, 1930. JACK BROWNING, Mortgagee. LEO CARR, Atty. 666 Rtlimi a Headache or Ne^algia in 30 minutes, checks a Cold the first day, and checks Malaria in three days 666 also in Tablets. The Southern Planter ' Semi-Monthly Richmond, Virginia The Oldest Agricultural/Journal in America 50 CENTS FOR ONE YEAR $1.00 FOR THREE YEARS $1.50 FOR FIVE YEARS TWICE-A-MONTH 200,000 TW1CE-A.N0NTH QlildrettJ Cry fort V MOTHER! 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The Alamance Gleaner (Graham, N.C.)
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July 17, 1930, edition 1
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