A p aper with a Prestige D f a Half Century. A County, Not a Com munity Paper. . ESTABLISHED SEPTEMBER 19, 1878 banks of bonlee and BENNETT CLOSE Directors Take Voluntary Ac-j Uon When Reserve Nears Legal Minimum Frozen Credits Cause j j,, -lie voluntary action of the i,the Banks of Bonlee and Ben ne:r jnder the same management, •loseci their doors Saturday morning. The corporation commission was in formed and an examiner soon appeared upon the scene to take oh-W e * au dlt of the accounts will take place this week. There is not a hint of fraud ill connection with the closing of these bhnk.-. The trouble, like that of rrlany other banks, comes over from the boom days of land prices nine or ten years ago. The banks hold about $i50,000 in slow notes, the Record is informed, while the de posits are about $120,000. It is thought that if reasonable time shall be given to clearing up the situation, no depositor will lose w cent. It is to be remembered in this connection that there has been a succession of bad crops in Chatham county for five years and that in comes have been at a minmum. This fact has made it all the more diffi cult for creditors to meet the older obligations. Unfortunately, the pre sent crop prospects do not suggest an improvement this fall, making it all the more difficult to make imme diate settlements of the outstand ing notes. Mr. C. M. Andrews is president of the combined banks, Mr. C. C. Bray cashier of the Bonlee Bank and Mr. J. A. Purvis of the Bank of Bennett. After the examination has been made under the auspices of the Corporation Commission, the status of affairs will be clearer. e> Reminder of Chatham County Farm Tour Last weeks issue of this paper car ried an article having reference to the Chatham County Farm Tour. As vas mentioned, this tour begins Mon day, August 5 and ends, Wednesday August 7. The County Agent has mailed letters to 100 farmers in dif ferent sections of the county, asking them to notify others in their com munity, and bring out as many farmers as possible. Siler City will be the stop for lunch Tuesday, August 6, and farmers in the vicinity of Siler City who wish to join the tour can do so then. Lunch is to be brought along by those attending the tour. The schedule for this tour was announced in last weeks paper, and also in the letters that have been mailed out. Come out and help us make this tour a suc cess. N. C. Shiver, County Agent Suit Against Bank Non-Suited Friday At a continuance of the hearing by Judge Hayes of the middle dis trict in federal court at Greensboro Friday, on motion of Wade Barber, attorney for the Bank of Pittsboro, the suit against the Bank of Pitts boro instituted by the bonding com pany which bonded the Stout con struction company in the construc tion of the Bynum school building, in connection with a suit against the Chatham county board of education, w as non-suited with respect to the compalint against the bank. The niatter in its relation to the board of education was set for determination this week. It is recalled that the bonding company is seeking to make the board of education responsible for money paid out to the Stout com pany before all the charges for ma terial and labor were settled. ( ;t V***** * * * * * * * * * Antioch News * :: £ * * * :>c * * * * * * Che Revival services will begin at Antioch the second Sunday in Au- Pnst, that being August the 11th. ‘ ■ere will be all-day service on Sunday dinner on the ground. Miss Fannie Lizzie Dowdy has re turned home after spending two weeks with her sister at Durham. Minnie Steel of Durham is •'pending this week with relatives in this community. Mr. and Mrs. Jessie Pilkington of Durham spent 'he week-end with home folks. Cit Me Herber' J’dham of Pitts ,or° s 'Pent last eek with grand parents. Misses Gear and Margurite ( ‘ham visited elatives at Bynum recently. rw r ' an( * Mrs Proper Wheeley of “ r *am spent cne week-end with -rs. Wheeley’s parents Mr. and Mrs. C e