Newspapers / The Transylvania Times (Brevard, … / Jan. 13, 1944, edition 1 / Page 6
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OPA Has Done Good Job Holding Down Prices And Prevention Of Inflation, Grant Tells Kiwanians Former OP A Official Spoke At Club Here. Praised Leon Henderson America and the world owes the Office of Price Administration a continuous vote of thanks for keep ing inflation out of America, a former official of the OPA told Brevard Kiwanians at their meet ing last Friday. Charles Grant, one of the first men to be called into the OPA work by Leon Henderson when the war agency was in its begin ning, and who has had active supervision of the fine papers di vision more recently, said that if newspapers and radio commenta tors had told the people one-third as much about the good things accomplished by OPA as the news agencies have told about the mis takes that were naturally made, the people would have a different attitude towards the agency which has kept prices from skyrocketing during the past two years. OPA has made many .mistakes since its inception. Mr. Grant told the Kiwanians. and they will very likely make more before the war is over, but at the same time, this office has been instrumental—in fact, it has been the safeguard— against price inflation such as was witnessed during and immediately following World War I. As a comparative statement to prove that his statements were true, Mr. Grant §aid that fine pa pers had advanced only 22 percent since the start of the war as com pared with an advance of 230 per cent during World War I, when there was no price control legisla tion. Likewise, newsprint which commodity is so essential to the furtherance of all war work and war promotions of every kind, has advanced only 16 percent against 270 percent increase in price dur ing World War I. Paper box board has advanced only 33 percent against 240 per cent in World War I, and other commodities of the paper industry have also been held in check. These things have been under the immediate check of the speaker, and the figures quoted are actual, he pointed out. Mr. Grant said that Leon Hen derson was a great economist, and that despite the many criticisms that have been aimed at him, he has done a great work; OPA was started in a hurry, the speaker pointed out, as it neces sarily had to be to curb the first inflation movement that had start ed on its way to becoming a black market affair. There were too many employees at first, the speak er ^pointed out, but ' this number has been cut from 5;000 to 3,000. There were many emergency rules, made in a hurry, which have since been modified and clarified, Mr. Grant pointed out. These quick rules had to,be put into: effect to offset what was becom-j ing the fore-runner of a black market wherein the man with money could have all of every thing he wanted while the average citizen would have been on verge of starvation in a short while after the war started. Mr. Grant was a guest of F. S. Best, along with Frank Marder, official of the Champagne Paper corporation. CASH & CARRY Z SHOP IN OUR STORE WITH CONFIDENCE We will have for this week end a fresh shipment of Indian River oranges, grapefruit and tanger ines. California Carrots, bunch. 11c Kiln Dried Sweet Potatoes, 2 lbs. . . 15c Canadian Rutabagas, lb. 5c Fresh Bunch Turnips, each. 10c Fresh Coconuts, each.17c and Up MIXED NUTS AND GEORGIA PECANS SPECIAL NOTICE: String beans and grapefruit juice at present are point free. We have a large stock of both. Southern Gold Salad Dressing, qt. . 33c Blue Plate Peanut Butter, 2 lb. jar . 47c Blue Plate Mayonnaise, pt. jar .... 33c Stokely’s Sweet Corn, No. 2 can . . . 15c Argo Sugar Peas, No. 2 can. 15c Carnation or Pet Cream, 5 sm. cans 25c Gold Medal Oat Meal, large box . . 20c JFG Special Coffee, lb. 31c Phillip’s Pork and Beans, can. 14c Advance Shortening, 4 lbs. ....... 75c Pure Lard, 8 lb. carton.* $1.47 Grade A Yard Eggs in cartons, doz. 50c A Good Variety of SALMON, SARDINES & LUNCHEON MEATS Creamery Butter, lb. 50c Nice Pork Chops, lb. 37c Pork Loin Roast, lb. 33c Country Style Pork Sausage, lb. . . . 35c FRESH PORK RIBS with the (Transylvania Boys in the ( Military Service Leo A. Reid, SK 2-c, has been been transferred from the navy yard, Philadelphia, to the navy receiving station, Tampa, Fla., and has been promoted to second class seaman. Pfc. Ernest T. Allison, son of Mrs. Joe Corbett, of Brevard, is now in overseas service some where in New Guinea. He sends greetings to all his friends. Sgt. Richard Mckinney, of Camp Adair, Oregon, recently visited his parents and other relatives at Lake Toxaway. He has been pro moted from corporal to the rank of sergeant. He has made seven I trips across the country in a little over a year. He said when he made the next visit to Transylvania, he hoped he would be home to stay. He is in the infantry of the U. S. Army. Pvt. Mancel E. Owens, who is in the army, stationed at Camp Santa Anita, Arcadia, Calif., has written to his mother and brother, Tom, j at Lake Toxaway and enclosed the following letter to his friends that he wished to be published: “Please accept this as a token of appreciation for the many acts of kindness you have shown my mo ther and brother. These may seem but minor things to you who are near those who are your life and' hope. But to us who are in the service it means a lot because we know that no matter what hap pens there are those who will give a hand where needed. You lay in a foxhole and think not of what may happen to you for it is your folks and friends you concern yourself with. Your mind goes about like this: ‘Wonder if Mama and Tommy are in good health and if they have wood for the stove. Wish I knew how my cous-( ins and friends are faring overj there where the shells and bul-i lets are filled with the sting of death.’ It makes a fellow feel warm all over when he gets a let ter relating how some neighbor did some needed thing for mother. These things also soften the bit terness one feels toward the shirk ers who hide behind technicalities in order to avoid serving the fin est people in all creation. Sgt Dwight Elmo Collins, son of Mr. and Mrs. S. P. Collins, of Brevard, is radioman with the Army Air corps, and has been transferred from Madison, Wis., to Clovis, New Mexico. He is radio man on a B-29 bomber. Pfc. Alfred Gillespie, who is stationed at Camp Atterbury, Ind., spent the holidays here with his parents, Mr. and Mrs. J. L. Gilles- j pie. He is a meat and dairy food I inspector, and has recently receiv- j ed a medal for good conduct. Pfc. William H. Tritt, son of Mr. and Mrs. R. L. Tritt, of Bre vard, Route 2, is in the quarter master corps, stationed now at Fort Dix, N. J. He has been in service a little over a year, and is now on a 10-day furlough here. Another son, Cpl. Robert Tritt, is somewhere in England. He has been overseas since September. He is in the airborne division of the army. Cpl. Vaughn “Dock” Lane, in a V-mail letter to The Times, writes, in part: “Just a few lines from Italy to say I am o.k. and hope everything is running o.k. at home. I get The Times every week, that is if we get mail, and enjoy it! very much. There is no sunny Italy to me. I sure would like to REPORT OF CONDITION OF TRANSYLVANIA TRUST COMPANY Of Brevard, in the State of North Carolina at the close of business on December 31st, 1043. ASSETS Loans and discounts (Including no overdrafts) -$ 140,319.09 ] United States Government obligations, direct & guaranteed 446,684.94 Obligations of States and political subdivisions- 94,128.76 Other bonds, notes, and debentures- 6,975.00 Cash, balances with other banks, including reserve bal ances, and cash items in process of collection- 581,312.80 Bank premises owned $8,755.67 (Net), furniture and fix tures $246.64 (Net) _ 9,002.31 Other assets_ 3,044.51 TOTAL ASSETS $ 1,281,467.41 LIABILITIES Demand deposits of individuals, partnerships, and corpora tions -$ Time deposits of individuals, partnerships, and corpora tions _ Deposits of United States Government (including postal savings) _ Deposits of States and political subdivisions_ Other deposits (certified and officers’ checks, etc.)_ TOTAL DEPOSITS _$1,189,432.84 Other liabilities _ 796,640.15 273,645.08 12,480.69 106,520.06 146.86 7,754.31 TOTAL LIABILITIES (not including subordinated obligations shown below) __1_$1,197,187.15 CAPITAL ACCOUNTS Capital* _$ Surplus _ Undivided profits _ Reserves (and retirement account for preferred capital) 48.000. 00 20.000. 00 1,780.26 14,500.00 TOTAL CAPITAL ACCOUNTS _ 84,280.26 TOTAL LIABILITIES & CAPITAL ACCOUNTS_$ 1,281,467.41 *This bank’s capital consists of first preferred stock with total par value of $23,000.00, total retirable value $23,000.00; and common stock with total par value of $25,000.00. MEMORANDA Pledged assets (and securities loaned) (book value): (a) U. S. Government obligations, direct and guaran teed, pledged to secure deposits and other liabilities 35,145.31 (b) Other assets pledged to secure deposits and other liabilities (including notes and bills rediscounted and securities sold under repurchase agreement) _ 17,692.15 (e) TOTAL -$ 52,837.46 Secured and preferred liabilities: (a) Deposits secured by pledged assets pursuant to requirements of law _ 52,837.46 (e) TOTAL -$ 52,837.46 Subordinated obligations: (a) On date of report the required legal reserve against deposits of this bank was_$ 151,028.38 (b) Assets reported above which were eligible as legal reserve amounted to_$1,031,953.91 I, R. J. Duckworth, V-Pres. & Cashier, of the above-named bank, do solemnly swear that the above statement is true, and that it fully and correctly represents the true state of the several matters herein con tained and set forth, to the best of my knowledge and belief. R. J. DUCKWORTH, V-Pres. & Cashier. C. W. PICKLESIMER LEWIS P. HAMLIN Directors. State of North Carolina, County of Transylvania, ss: Sworn to and subscribed before me this 11th day of Jan., 1944, and I hereby certify that I am not an officer or director of this bank My commission expires Dec. 16, 1944. HENRY HENDERSON, (SEAL) Notary Public. see my baby and wife. It makes a fellow proud to live in a coun try like America, after seeing the children and their homes and bombed cities over here and in Sicily and Africa. Hope it will all be over so every one can go back to their homes. Well, tell every body hello, and to buy another bomber.” Sgt. Clyde Owen, son of Mrs. Ethel Owen Hall, of Brevard, is a photographer in the signal corps of the army, stationed now at Day tona Beach, Fla. He has been in service nearly two years. Two other sons, Sgt. Maurice Owen,, is overseas and has been in service four years. Curtis Owen, is fire man first class in the navy and now overseas. He has been in ser vice three years. CpL Randall Lankford has ar rived safely in England, according to notification received here by his wife. He is in the quarter master corps of the army, and has been in service nearly a year. W. M. Linderman was inducted in the navy the past December, and is now stationed at the naval training station, Bainbridge, Md. He is the son-in-law of Mr. and Mrs. Parris L. Gallamore, of Brevard. Mrs. Linderman, the for mer Miss Georgia Gallamore, and two children are at present at their home in Mt. Holly. Hale Chamberlain, formerly of Brevard, son of Mr. and Mrs. T. K. Chamberlain, of San Santos, Ariz., writes in a note to the edi tor of this paper, “I have been sick in Fitzsimmons hospital since Sept. 10, with rheumatic fever. However, I am practically well now and expect to be discharged early in January. My parents send me The Times and I read every word. I hope to come back to Western North Carolina to live some day— it beats the best Denver has to offer.” Pfc. Frederick E. Bishop has graduated from the Gulfport Field, Miss., where he completed the course at the Army Air forces technical training command school for airplane mechanics, where he specialized in maintenance of cargo and transport type air planes. He is now stationed at a Douglas aircraft school at Santa Monica, Calif, and is expected home on furlough the latter part of this month. Before entering service, he was a paper tester at Ecusta. The foregoing informa tion was received from the head quarters public relations office. Sgt Alvin J. .Patterson, son of Mr. and Mrs. Alex Patterson, of Brevard, has recently arrived in this country from England, where he has been an instructor on the Link trainer since June, 1942. He is expected to come to Brevard soon to spend his furlough with his parents. He has been in the air corps nearly two years. St. Sgt. R. J. Alderman, who has been a prisoner in Germany since last August, wrote a card to his wife here, which she received last week, stating that he was getting along fine and was well treated. He was in a B-17 bomber when captured over German territory. Mrs. Alderman was formerly, Miss Mabel McNeely, of Brevard. Cpl. N. A. Miller., Jr., is on a furlough here this week with his parents, Mr. and Mrs. N. A. Miller. He has just been graduated from the gunnery school at Laredo, Texas, and will go from here to Salt Lake City, Utah, where he | will take advanced training in the ; army air corps school. He told his parents: “The Transylvania Times is the best morale builder I know of, and I read every word of it.” Sgt. Oscar Bryson, son of Oat Bryson, of Brevard, who has been in the Southwest Pacific the past 21 months, is home on a 21-day furlough with his father and other members of the family. He is in the field artillery, stationed on the radio outpost. He volunteered in service in May, 1940. Sgt. Pete Souther, son of Rev. and Mrs. H. L. Souther, of Pisgah Forest, has been overseas two months and is now in Ireland. He is a gunner in the air corps. An other son, Sgt. George Souther, has been overseas two years, and is now in Africa. He is an en gineer in the army. Frazier G. Sentelle, seaman sec ond class, spent the past week-end with his mother, Mrs. J. J. Sentell, of Pisgah Forest. He is in the navy, on a destroyer at sea, with headquarters in Philadelphia. Pfc. Harold Misenheimer, son of Mr. and Mrs. C. F. Misenheimer, of Brevard, is on a 30-day furlough transfer from the Southwest Pa cific to the Norfolk naval hospital. He is in the marine corps and has been in service two years. Esxadtl vitamins: in one capsule:.... „ _ * TeaB "<»*» ^Mnnww 193-1 MACFIE’S DRUG STORE NOTICE OF ANNUAL MEETING The annual meeting of the Brevard Federal Savings and Loan association for the election of directors and for the transaction of any other business of the asso ciation will be held at our office at 6 Caldwell street, Brevard, N. C., at 1 o’clock, Wednesday afternoon, January 19. BREVARD Federal Savings & Loan Ass’n. Fifth Annual Statement of Condition — December 31, 1943 BREVARD FEDERAL SAVINGS AND LOAN ASSOCIATION Chartered and Supervised by The United States Government ___ Directors JOS. S. SILVERSTEEN A. F. MITCHELL JERRY JEROME F. D. CLEMENT W. D. GASH R. W. EVERETT R. H. PLUMMER FRED HOLT W. L. MULL Officers JOS. S. SILVERSTEEN, Pres. A. F. MITCHELL, Vice-Pres. JERRY JEROME, Sec.-Treas. MRS. ROWENA SUMMEY Asst. Sec.-Treas. ASSETS First Mortgage Loans _$218,481.07 Real Estate Owned _ NONE Stock in Federal Home Loan Bank_ 2,600.00 War Bonds - 50,500.00 Cash in Bank - 12,095.19 Furniture and Fixtures _ 1.00 TOTAL-$283,677.26 LIABILITIES Saving & Investment Accounts_$262,688.56 Other Liabilities _ 3.30 Specific Reserves _ 33.24 General Reserves _ 4,215.40 Undivided Profits _ 16,736.76 TOTAL_$283,677.26 I hereby certify that the foregoing statement, to the best of my knowledge, is true and correct. JERRY JEROME, Sprrpfarv-Trpasurpr Investments Insured Up To $5,000 By Federal Savings & Loan Insurance Corp. LET’S ALL “BACK THE ATTACK” BY BUYING WAR BONDS To The Limit DURING THE 4th War Loan Drive AND END IT BY 1944! BREVARD FEDERAL MISS, ASSOCIATION
The Transylvania Times (Brevard, N.C.)
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Jan. 13, 1944, edition 1
6
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