dlU Aa V
The Oldest Newspaper Published In North Carolina
The Carolina Watchman
"The Watchman Carries a Summary of ^All The lS[ews”
E A„A 1832-lOOth Year SALISBURY, FRIDAY MORNING, FEBRUARY 5, 1932_ Vol.27,No.6 Price 2 Cents
Fifty-Six State Banks Were Closed In 1931
DECREASE SHOWN
WHEN COMPARED
WITH YEAR 1930
83 State Banks Failed In
That Period, Report By
Commissioner Of Banks
Shows.
TOTAL INCLUDES
FAILURES OF 8
BRANCH OFFICES
Believe Zero Mark Has
Been Reached And The
Future Holds Steady
Growth Of Banking and
Business.
Fifty-six state banks closed in North
Carolina during the year 1931, accord
ing to a report received by The Watch
man from Gurney P. Hood, commis
sioner of banks.
In 1930, 83 state banks closed.
No industrial banks was included
in the list. Several new banks were
opened. Several national banks also
closed which are not listed in the state
computation.
The list of banks closed in 1931
follows:
Bank of Ahoskie, (branch at
Powellsville), Ahoskie.
Merchants & Mfgrs. Bank, Andrews.
Bank of Beaufort, Beaufort.
Beaufort Banking & Tr. Co., Beau
fort.
Farmers Bank, Belhaven.
Bank of Blowing Rock, Blowing
*Wes'Banfe & Trust Co*.,*fcmIee.'
Citizens Bank of Yancey, Burns
ville.
Bank of Candor, Candor.
Bank of Cary, Cary.
Clayton Banking Co., Clayton.
Bank of Clinton, Clinton.
Bank of Sampson, Clinton.
Bank of Coleraine, Coleraine.
Elon Banking & Trust Co., Elon
College.
Citizens & Commercial Bank,
Franklinton.
Garner Banking & Trust Co., Gar
ner.
Merchants & Farmers Bank, Garys
burg.
Bank of Goldston, Goldston.
United Bank & Trust Co., (branch
at Burlington, Reidsville, Sanford),
Greensboro.
Bank of Grifton, Grifton.
Bank of Grover, Grover.
Farmers & Merchants, Kinston.
Farmers & Merchants Bank, Little
Planters Bank & Trust Co., Lum
berton.
Marine Bank, Morehead City.
Citizens Bank, Mt. Olive.
Cherokee Bank, Murphy.
Bank of Pikeville, Pikeville.
Pinetops Banking Co., (branch at
Hookerton), Pinetops.
Mechanics Savings Bank, Raleigh.
Bank of St. Pauls, St. Pauls.
Chatham Bank, Siler City.
Citizens Bank, Spring Hope.
Planters Bank, Stantonsburg.
Bank of Summerfield, Summerfield.
Bank of Jones, Trenton.
Bank of Montgomery, Troy.
Bank of Vass, Vass.
Bank of Wagram, Wagram.
Bank of Wake, Wake Forest.
Bank of Warren, Warrenton.
Bank of West Durham, West Dur
ham.
Bank of Whiteville, (branch at
Tabor), Whiteville.
Planters Bank, (branch at Black
Creek, Kenly), Wilson.
Wilson Trust & Savings Bank, Wil
son.
Home Savings Bank, Wilmington.
Winton Banking & Trust Co., Win
ton.
GUILTY OF KIDNAPING
Kinston—Casey Wiley was convict
ed of kidnaping pretty Dorothy Wil
kins, age 16. His step-mother, Mrs.
Birdie Wiley, was found guilty of giv
ing the girl liquor. The youth carried
the girl to a farm shack and remained
there with her for two days and nights,
There was no evidence that he had
made improper proposals.
LOWER SCALE OF
PAY WENT INTO
EFFECT FEB. 1
To Last For One Year
Only; The Agreement,
Reached At Chicago,
Effects Two Million Men
LOCAL PAYROLL
TO BE REDUCED
BY WAGE SLICE
Executives Promise Sym
pathetic Effort To Main
tain And Increase Em
ployment.
Acceptance by America’s railway
workers of a 10 per cent wage cut for
one year beginning Feb. 1, will result
in a similar decrease in the local rail
way payroll, it is stated. Basic rates
will remain the same and the arrange
ment will terminate automatically
Jan. 31, 1933.
Railway officials said they hoped
the reduction in wages would result
in an increase in employment of idle
workers.
David B. Robertson and 19 other
union heads acted in behalf of the
I nearly 2,000,000 men who run the
country’s trains. Daniel Willard and
eight other railroad preside*” repre
sented the country’s 210 class A rail
roads.
The unions accepted the agreement
after more than two weeks of confer
ence in Chicago, Robertson said, be
cause of a profound sense of their re
sponsibility to the country, the urgent
needs of the railroads and the demands
of public welfare occasioned by the
near bankruptcy of many of the na
tion’s steam transportation lines.
"After a painstaking review of the
proposals and arguments in behalf of
the railroads,” said Robertson, "we feel
compelled to reiterate our previous
opinion that as a matter of pure right
and justice the railway employees
could not be called upon to agree to
a 10 per cent reduction in their mea
ger earnings. Nor do we wish to give
any assent to the theory that wage re
ductions are to be regarded ordinarily
as the appropriate means to promote
prosperity, we can not believe that the
public welfare is advanced by reduc
ing the purchasing power of labor.”
Inasmuch as the railway executives
think otherwise, Robertson continued,
the unions hope that their sacrifice
may stimulate a revival of business and
may advance the country’s general
welfare.
He said the unions made the agree
ment because they were influenced by:
"1. A desire to do all within their
power to aid in lifting the nation out
of the worst depression of business we
have ever experienced.
"2. A desire to show the capacity of
organized labor to do a big thing in a
constructive way to advance the gen
eral welfare, even at the expense of
personal sacrifices that would deter
narrow-minded persons.
"3. A desire to encourage our
friends, and not to encourage our en
emies, in the railroad industry and
elsewhere.”
Successful outcome of the unprece
dented meeting between labor and cap
ital means, in a nut shell, that the rail
roads will save $250,000,000 this
year.
That, with $100,000,000 more re
ceived through recent freight rate in-,
creases, will enable them to meet fix
ed charges and have millions of dol
lars left over to hire more mn for the
rehabilitation of their run-down equip
ment. _ ,
Financiers hailed the decision as the
first country-wide move to deflate
business into normalcy. Their repre
sentatives observing the parley called
it the most important constructive
(Please turn to back page)
' V>T A A X-7 T ,
New Ruler of Porto Rico
J. B. Beverly has been appointed
Governor of Porto Rico- in place
of Theodore Roosevelt, who was
assigned to the Philippine* Islands.
Good
Morning
______a
THE DARLING
"God took the blush of the morning
And the sheen of an Oriental pearl;
He caught the coo of a homing dove
And the white of a lily’s curl;
Then He took the blue of the iris
And the scent of a virgin’s hair,
And cuddling them all in His great,
white hand,
Lo! a baby nestled there.”
* fc... ... j
Nurse: Are you going to give my
patient something to slow down his
heart action?”
Doctor: "Yes, an elderly nurse.”—
Colorado Medicine.
EXPENSIVE
Cop: "Lady, there’s no red light on
your car.”
Co-ed: "No, sir, it’s not that kind
of a car.”
RESULTS
Miss Sophie Jones tripped into a
lawyer’s office. "Cain’t Ah sue dat
no good Rastus Smiff fo’ somepin,
mister? He promised to marry me, dat
he did, an’ yistiddy he done ’loped
fwith another gal.”
"Promise to marry you, eh?” mus
ed the lawyer. "Well, have you any
thing in black and white to show for
it?”
"No, suh,” replied Sophia. "Jes
i t • .11 »
uiaviv jj on.
_ \
Some men were born for great things;
Some men were born for small;
Some—it is not recorded
Why they were born at all.
LET’S GO!
"Darling, I love you!”
"Good gracious! Why, we’ve only
just 'become acquainted!”
"Yes, I know; but I’m only here
for the week-end.”
Nit—"There was a time when she
could have married anyone she pleas
ed.”
Wit—"And she never married?”
Nit—"Well, she didn’t please any
one.”
. CLINGING VINES
Mother (to little daughter return
ing from Sunday School: "Well, what
was your lesson about this morning?”
Little Daughter: “A man named
Solomon.”
Mother: "And what did you learn
about Solomon?” ^
Little Daughter: "The teacher said
he had 300 wives and 700 cucumber
vines.”—Textileathergram.
Sue: What becomes of all these love
triangles?
Mae: Most of them turn into
wrecktangles.—Typo Graphic.
"HONESTLY?”!!!
Politician: "Congratulate me, dear,
I got the nomination.”
His Wife: "Honestly!”
Politician: "Why bring that up?”
—High Tension News.
I
:—
| Will Govern Reconstruction Finance Board
General Charles G. Dawes, former Vice-President and recently
Ambassador to England, is shown leaving the Senate Office Building with
Eugene Meyer. Gen. Dawes, as president, and Mr. Meyer, as chairman of
the new corporation, will have charge of distributing the two billion
financial pool sponsored by the Government to absorb frozen assets.
Peace Spurned
JAPANESE BALK
AT PEACE PLAN;
FIGHT GOES ON
Proposals By World Pow
ers Declared Unaccept
able; Manchurian Dis
pute Must Be Settled.
The Japanese government announc
ed Thursday that it was unable to ac
cept the peace proposals submitted
several days ago by world powers in
an effort to bring about peace between
China and Japan.
The United States and Great Brit
ain submitted to the Japanese and
Chinese Governments today detailed
proposals designed to end hostilities.
France and Italy were expected to do
likewise.
President Hoover and his Cabinet
waited anxiously for word whether
the peace efforts would have fruition.
The proposals were:
1. Cessation of violence.
2. No more warlike preparations.
3. Withdrawal of combatants from
points of contact.
4. Neutral zones to protect the In
ternational Settlement.
5. Prompt negotiations for perma
nent peace.'
Unofficially the Japanese attitude
toward the proposal of the powers was
summed up as follows:
1. Cessation of acts of violence is
acceptable provided the Chinese also
agree.
2. A pledge to refrain from prepa
rations for further hostilities may be
made when Japan is convinced of
China’s sincerity in making a similar
pledge.
3. Withdrawal of Japanese blue
jackets from points where there is a
considerable Japanese population is im
possible unless the Chinese withdraw
to a safe distance.
4. Establishment of a neutral zone
is acceptable, and perhaps Japan may
accept a permanent agreement within
a stipulated distance of Shanghai’s in
ternational settlement. Such an agree
ment would be similar to the Tientsin
Boxer protocol.
5. It is impossible for Japan to agree
under any circumstances to the par
ticipation of any third power in ne
gotiations with China so. far as the
Manchurian controversy is concerned.
Latest Developments In
China-Japan Crisis
UNITED STATES AND GREAT
BRITAIN with the approval of France
and Italy, submit definite proposals
to Japan and China to bring about a
cessation of fighting.
NEW BATTLE BEGINS IN
Shanghai. Japanese artillery blasts
way through native city of Hongkew
for blue-jackets, who drive Chinese
troops from part of their defenses.
(Please turn to back page)
Who’s Who In Rowan
TEACHERS’ DIRECTORY
ROWAN COUNTY SCHOOLS
Harris Chapel
Florence Webb, Salisbury.
Jackson College
Mrs. Stella Pickier Trexler,, New
London.
Kesler
Mrs. George Kluttz, Salisbury, R. 4.
Kluttz
Mrs. J. T. Walker, Concord.
Kluttz and Menius
W. A. Sifford, Concord, R. 4.
R. G. Kizer
Pearl Powell, principal, Harmony;
Mrs. Dan Nicholas, Salisbury; Mrs.
Cora Dwire, Salisbury; Mary Sowers,
Salisbury.
Landis
T. Frank Eostian, principal, Landis;
C. G. Farmer, Landis; Lucile Lipe,
Mary Smith, home economics, Land
is; Mrs. Nellie Wine, music, Landis;
Ola Coble, Mt. Ulla; Pearl Black
welder, China Grove; Leona Gabriel,
Cleveland; Margaret Linn, Landis;
Elizabeth Patton, Spencer; Gladys
Gobble, Spencer; Mrs. D. C. Linn,
Landis; Naomi Carrigan, Mt. Ulla;
Mrs. D. L. Linn, Landis; Isabel Sloope,
Mt. Ulla.
Liberty
Tom Morgan, Gold Hill, R. 1;
Christine Wagoner, Salisbury, R. 3.
Life
Mrs. Mary Deal Wilhelm, Moores
ville; Mrs. Ivy C. Jackson, Moores
ville.
Lingle
Lala Correll, Salisbury, R. 7; Mrs.
Mabel M. Hair, Salisbury, R. 5.
Mill Bridge
Thetis Turner, Mt. Ulla.
Miranda
Mrs. Carrie V. Fender, Whitehead;
Jessie K. Fender, Whitehead.
(Continued next week)
For Railroad Wage .Cut
Daniel Willard, president of the
B. & 0. railroad, asked all railroad
men to accept a 10 percent cut so the
roads could five.
»
NORTH CAROLINA
NEWS IN
BRIEF
61 NEW LAWYERS
Raleigh-^Sixty-one of the 86 stu
dents who stood the supreme court ex
amination were passed by the court.
DECREASE IN VALUES
Raleigh—Total valuations on public
service corporations in North Caro
lina for 1931 were $3 51,683,433, a
decrease of $13,251,578 under 1930. '
GOLD NUGGETS FOUND
Andrews ■— Three gold nuggets
found by miners in the bed of Valley
river on the H. W. Abernethy farm
at Marble were valued at $52.
$200,000 FIRE LOSS
Edenton—Fire destroyed the Eden
ton plant of the Farmers Peanut com
pany, causing a loss of $200,000 and
throwing more than 100 workmen out
of work, at least temporarily.
TWO PERSONS INJURED
Clinton—An early morning blaze
destroyed an automobile storage ware
house here and caused destruction of
property valued at between $15,000
and $20,000.
MAN DIES IN JAIL
Thomasville—W. F. Everhart, 3 5,
custodian of a shooting club near the
city, died in jail of what appeared to
be an over-dose of drugs. He was plac
ed in jail after his car had maimed two
persons whom he struck on the high
way near here.
COW TRACKED TO S. C.
Forest City—Garrett M. Edwards
was called in when a cow was stolen
from a Rutherford county fanner’s
pasture. Mr. Edwards tracked the an
imal several miles to Gaffney, S. C.,
where she had been taken to a butch
er’s shop.
HARPER SET FREE
Greensboro — Mrs. Catherine C.
Harper, along with her husband, Terry
H. Harper, charged with the murder
of an alleged lover of Mrs. Harper,
Charles O. Holton, was acquitted of
the murder charge. She was then call
ed as a witness for her husband.
GIRL FATALLY HURT
Thomasville—Miss Evelyn Jones,
20, went riding with two, young men
and they engaged in a fight. Miss
Jones walked away and later accepted
a ride with a passerby. En route to
town the car was wrecked, Miss Jones
was fatally hurt and the driver, N. L.
Stewart, is in jail in connection with
the case.
STATE EMPLOYEES CUT
Raleigh—North Carolina’s payroll
has been trimmed approximately
$377,000 per year under the reduced
salary schedule announced by Frank
L. Dunlap, director of personnel. Sal
ary reductions amounting to $237,
481 a year or 1 per cent were made in
the state highway department. For all
other state departments the cut was
about 10 per cent.