I Wi
I Vol. XIII, No. 33
Two 'neigli
By CHERYL WILLIAMS
Chronicle Staff Writer
Related stories below and *
B7.
. Not very long agorifTOU lived
East Winston and wanted to oper
checking account or make a Christn
Club deDOsit. vou had tr>
somewhere else.
But that changed in 1981, when
predominantly black community ]
not one, but two banks.
Ever since, Wachovia Bank i
Trust Co.'s East branch office and
Mechanics and Farmers Bank hi
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...news anchor Susan Bruce
hostage situation in 1984? Se
Aldermen \
By ROBIN BARKSDALE
Chronicle Staff Writer
Related editorial on A4.
The Board of Aldermen voted
5-3 Monday night to fine Larco
Construction Co. for not living
up to its obligations under the city's
Minority and Women
Business Enterprise Program.
But the aldermen only penalized
Larco for $15,453, half of the
maximum fine for failing to subcontract
the required portion of a
E. Winston wi
evening bus r
By CHERYL WILLIAMS
Chronicle Staff Writer
Related story on A11.
Residents in and near East Winstc
Baptist and Forsyth Memorial he
Forsyth Technical College or shop
now can get there at night by bus.
The eight-member Winston-S
Authority approved evening bus se
for the southeastern, north
southwestern portions of the city.
Two buses will operate from 7 t
Please see page A12
- v
a
HUB
nston
U.S.P.S. No. 067910
ibors' vie ft
stared one another squarely ii
from opposite sides of Mart
King Jr. Drive (formerly C
las TgwrgiTpg^gggjjg|
go ' li
lot CROSSROADS
ind Avenue), vying for a share o
the community's dollars,
ave East Ward Alderman V
I M
HPP^ ^lv ii&:
's^^H
P^& ^%S|
K ^M
, who helped defuse a tense
e page A14 for the first install#ote
to fine
city street project to a minority
company.
Under the original terms of the
contract, Larco was required to
subcontract 12 percent of its
street-paving contract to minority
subcontractors and 3 percent to
companies owi^ed by women.
Reports to the aldermen indicated
that Larco subcontracted
only 7.5 percent of the project to
black-owned companies and 6.2
pcrccni 10 companies ownea Dy
women. {
ill get I I
outes ?I?|
\
>n who work at
>spitals, attend
at^anes Mall
ialem Transit
rvice last week
eastern and
).m. until mid- wjneton bi
: night beginning
HP"
-Sale
The Twin City's Awai
Winston-Salem, N.C.
or black do
n the face Newell, who headed a
in Luther helped recruit the Dui
Maremont black-owned Mechanii
mm?aammm Bank, said blacks had (
get the hometown ban
wara?' locate a branch in Ex
Ww Wachovia wouldn't.
"They had refused!
HK ing there was no mai
"So, when we were disi
\\f inrtnn\ ~
. M 1U.UUI1JSTTXTprpTITTg T
mediately came to ou
I^ needed a black bank.'
Mrs. Newell said
f the black with Mechanics and I
were fruitful.
irginia K. Please see p
E3 s8
* roB*
II 19 H
?i '-'^9
KflH HH1 . I
V $?x < >,,..% vx
I ment in a new regular feature t\
I and issues from the past (phot
Saying she was convinced that
Larco did not meet the MBE requirements,
East Ward Alderman
Virginia K. Newell had moved
to assess the full 5-percent
penalty against the firm. But the
motion failed for lack of a second.
p
"If we are serious about
meeting our goals of MBE and
WBE participation, this board
will have to assume that responsibility,"
Mrs. Newell had said.
Please see page A11
WKK^k^^'
,<4tf> ^~ -r+
js patrons will be able to ride s<
May 4 (photo by JajTies Parker).
\
v
>122 a
rd-Winning Weekly
Thursday, April 9,1987
liars | ?
committee that
ham-based and I
:s and Farmers I
ried for years to I
k, Wachovia, to
st Winston. But I
to come in, sayket,"
she said. '
cussing the (East
center, it imr
minds that we
that discussions
:armers officials Since 1981, M
and Trust Co. I
age A3 by James Par*
; / ', f. . .
; I
PIP ^3rll^HHB
lat will profile people, places
o by James Parker).
r/KTiTr^T TjTITW^
I M 1 ?
CLASSIFIED 116
COMICS M
EDITORIALS A4
ii il i mmmmmmmmmmmmmmmmmmmmmiSmgtm >'
ENTERPRISE
FORUM AS
LEISURE M
OBITUARIES MQ
PEOPLE A6
SPORTS n
?
Local I
to func
to help support its
fa . NAACP Preside
last week that the
tutorial programs
sites in the_?ity: J
Carver Road Chr
J; manuel Baptist CY
^The three sites
Dme routes at centers" organizec
* by the NAACP. T
mmmmm nan
ironit
50 cents
~ ^17
>rv i r
echanics and Farmers Bank, b
lave stared one another squareh
;er).
y* c
COVER STORY
Statemei
against V
Legal Services: B
invest sufficients
s ?
Chronicle Staff Writer
THE North Carolina Legal
Services Resource Center has filed
a statement with the Federal
Reserve Board that questions
whether Wachovia Bank and
Trust Co. returns as much to the
East Winston community as it
takes out.
In filing the statement, Legal
Services has questioned whether
.Wachovia has done its share in
the predominantly black area
under the Community Reinvestment
Act.
The act is part of federal banking
legislation passed in 1977 that
requires financial institutions to
4'demonstrate that their deposit
facilities serve the convenience
and needs of the communities in
which they are chartered to do
business."
If Wachovia is found not to
meet those requirements, its
parent company's current attempts
to acquire another company
could be blocked. First
Wachovia Corp. has filed an application
with the Federal
Reserve Board for approval to
acquire F.A. Bankshares Inc., a
holding company in Monroe, Ga.
The statement by Legal Services
will be considered along
with other public comments when
the Federal Reserve Board makes
its decision on the application.
A proposed agreement with
Wachovia that was nrpnarAH H\/
- ...... f VJ-??AI VM \J J
Legal Services asks for comslAACP
receiv
I three 'learni
LIAMS Commi
I Septem
Althc
-P has received a $13,520 specific
nston-Salem Foundation 4.
. , three sp
tutorial programs.
K & ing cen
?nt W/oltor K^orrUntl ri
,nv " uuwi itioi .tnaii ><11U DCS?N1C t
grant will partially fund Educati
at three neighborhood Mrs.
Kimberly Park Terrace, Baptis
istian Church and Em- Associa
lurch. the otti
are among 11 "learning 4tI ha
1 and operated in the city ing on
he NAACP's Education
v.
33I3Tni
?le
36 Pages This Week
IF is *
t
? < Tjm - imsm II
ackground, and Wachovia Bank
/ in the face on King Drive (photo
i:uj
111 meu
Vac ho via
ank does not
/ in East Winston
mitments by the bank to:
increase in number and
amount the loans it makes to lowincome
and minority communities.
Virginia Newell: Wachovia
could do more (photo by
James Parker).
provide basic banking services
to low-income residents that
would not require a minimum
balance and would not cost more
? than $2 per month.
consider lower down
payments and application fees
when screening housing and
consumer-related loans for low
income customers.
support a community
Please see page A15
res a grant
ng centers'
ttee opened the centers last
ber.
>ugh money from the grant is
ally earmarked for programs at
ecific sites, the center's other learn
ters will continue to operate, said
Allen, chairman of the NAACP's
on Committee.
Allen said that donations from the
t Ministers Conference and
ites and other sources will help fund
er centers.
ive been real concerned about focusthree
centers," she said. "I was
Please see page A15
? I
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