Bulletin, Fri., Jan. 18, 1980
Tryon Daily
Curb Reporter
Continued From Page One
at the Stony Knoll Community
Center.
Thursday at 8 p.m. is the
Kiwanis Travelogue, “Canada’s
Many Faces” at the Fine Arts
Center.
Jesse A. Phillips
Jesse Alexander Phillips, 83,
widow of Maude McCurry
Phillips, of Rt. 1, Tryon died
Thursday morning at St. Luke’s
Hospital after an extended
illness.
A native of Polk County, he was
a son of the late Clayton Milton
and Magdalene Jackson Phillips.
He was a retired textile employee
and was a veteran of World War I
having served in the Panama
Canal construction. He was a
member of Polk County-
Memorial Post 250 and a member
of the Pacolet Baptist Church,
He is survived by two sons,
Melvin G. Phillips and Jack M.
Phillips, both of Tryon; two
daughters, Mrs. Kenneth (Helen)
Rodgers, Landrum and Mrs.
Fred (Shirley) Edwards of
Tryon; one brother, Vance
Phillips of Landrum; one sister,
Mrs. C. M. Sellars of Montgom
ery, Ala.; 13 grandchildren and 4
great-grandchildren.
Services will be held Saturday
at 2 p.m. at McFarland Funeral
Chapel with the Rev. J. E. Brock
officiating. Burial will be in Polk
Memoriai Gardens.
The family will receive friends
tonight from 7 to 8:30 at the
McFarland Funeral Chapel. The
family is at the home of Mrs.
Fred Edwards.
Mrs. Schore
Mrs. Barbara Frances Schore,
43, died Thursday morning at
White Oak Terace.
A native of Cleveland, Ohio, she
was the daughter of Kenneth C.
Dick of Burt Lake, Mich, and the
late Georgia A. Conner Dick. She
attended Michigan State Univer
sity and was a secretary with
General Motors. She had live
here for the past three years.
Surviving besides her father
are a son, Lawrence K. Schore,
University of South Carolina at
Columbia; one brother, James K.
Qick, Warren, Ohio.
Services will be held today
(Friday) at 11 a.m. at McFarland
Funeral Chapel with the Rev.
John D. Smith officiating. Burial
will be in Polk Memorial
Gardens.
Northwestern’s
Earnings
North Wilkesboro, N. C. —
Northwestern Financial Corpora
tion earned $11.7 million in 1979
before securities transactions
and a gain on the sale of a
subsidiary, an increase of 3.2
percent over the $11.3 million
earned in 1978. On a per share
basis, earnings were $2.26 in 1979
and $2.20 in 1978. According to
Northwestern chairman Ben T.
Craig, 1979 earnings were
reduced by $1 million or $.19 per
share as a result of the recently
announced tentative settlement
of Northwestern’s long-standing
Federal income tax matter.
“Prior to this charge,” Craig
said, “our 1979 earnings before
securities transactions and a gain
on the sale of a subsidiary totaled
$12.7 million or $2.45 per share,
which was 12.1 percent above
1978.”
Net income for 1979 totaled
$13.3 million or $2.57 per share,
up from $11.2 million or $2.17 per
share in 1978. The 1979 amount
includes an after tax gain of $1.8
million or $.35 per share realized
on the sale of Northwestern
Security Life Insurance Com
pany in January 1979. Fourth
quarter net income was $2.3
million or $.44 per share in 1979,
down from $3.1 million or $.61 per
share in the final quarter of 1978.
Prior to the tax settlement, The
Northwestern Bank earned $12.1
million before securities transac
tions in 1979, or 14.5 percent more
than in 1978. Combined net
earnings of Northwestern’s con
sumer finance, mortgage bank
ing and factoring subsidiaries
totaled $432,000 for 1979, down
from $495,000 in the prior year.
This decline resulted from
sharply lower consumer finance
net earnings in 1979, partially
offset by improved profitability
of the factoring subsidiary.
Total deposits at the end of 1979
were $1,409 billion as compared
to $1,295 billion a year earlier, an
increase of 8.8 percent. Net loans
of $1,106 billion were 8.3 percent
higher than at the end of 1978. In
addition to The Northwestern
Bank, Northwestern’s other
operating subsidiaries are M & J
Financial Corporation, First
Atlantic Corporation and North
western Factors, Inc.
Lettuce and celery keep longer
if stored in the refrigerator in
paper, instead of cellpohane
bags. Do not remove the outside
leaves of either until ready to use.
Tryon Hounds
Saturday — 10 a.m. at Vanna’s frying.
Field.
To prevent bacon from curling,
dip the strips in cold water before
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