I)ANBURY REPORTER
Volume 58.
THANKSGIVING
PROCLAMATION
President Hoover Calls l T pon
People To Observe Thanks
giving By Extending Aid To
Those Who Are Suffering
And In Need.
President Hoover has called
upon the people of the United
States to observe Thanksgiving
day by extending aid tj those
who are in need and suffering
from causes beyond their con
trol. In his annual Thanksgiv
ing proclamation, the chief ex
ecutive said this count.)**' has
many causes for Thanksgiving
He added that ixz a ua'.rn, "we
have suffered less than other
peoples from the presj.it dif
ficulties.''
His proclamation f.:;,ws:
"By the President of the
United States, a proclamation:
"Notwithstanding that our
forefathers endured the hard
ships and privations of a prim
itive life, surrounded by dan
gers and solaced only with
meagre comforts, they never
theless bequeathed to us a cus
tom of devoting one day in ev
ery year to universal Thanks
giving to Almighty God for the
blessings of life itself and the
means to sustain it, for the
sanctuary of home and the joys
that pervade it, and for the
mercies of his protection from
accident, sickness or death.
"Our country has many cau
ses for Thanksgiving. We
have been blest with distinct
ive evidence of divine favor-
As a nation we have suffered
far less than other peoples
from the present world difficul
ties. We have been free from
civil and industrial discord. The
outlook for peace among the
nations has been strengthened.
In a large measure we have
made progress upon the endur
ing structure of our institu
tions. . The arts and sciences
that enrich our lives and enlarge
our control of nature have made
notable advance?. Education
has been further extended. We
have made gains in the preven
tion of disease and in the pro
tection of childhood.
"Now, therefore, I, Herbert
Hoover, President of the United
States of America, do hereby
designate Thursday, November
27, 1930, as a national day of
Thanksginving. and do enjoin
the people of the United States
so to observe it, calling upon
them to remember that many
of our people are in need an.l
suffering from causes beyond
their control, and suggesting
that a proper celebration of the
day should include that we
make sure that every pei'son in
the community, young and old,
shall have cause to give thanks
for our institutions and for the
neighborly sentiments of our
people.
"In witness wheof, I have
hreeunto set my hand and caus
ed to be affixed the seal of the
United States."
Established 1872.
BANK OF STOKES
CLOSES DOORS
As a Matter of Precaution To
Protect the Interests of Its
Depositors, Business Is Tem
porarily Suspended Hoped
To Re-open In Few Days.
Wednesday morning notices
were posted on the four offices
of the Bank of Stokes County
stating that the institution was
closed pending negotiatinos
with the State Banking De
partment at Raleigh.
The Danbury, Walnut Cove,
King and
suspended operations pending
an audit by bank examiners
from Raleigh.
It is thought that the bank
is solvent, and that it will re
open for business within a few
days. The closing was a pre
cautionary measure to protect
the interests of depositors.
The Bank of Stokes County
opened for business in Sept.,
1005, and has served the people
of the county for more than
a quarter of a century.
Dr. J- W. Neal, of Walnut
Cove, is President; C- E. Davis,
cashier at Walnut Cove; M. O.
Jones, cashier at Danbury; C #
C. McGee, cashier at German
ton, H. H. Leake, cashier at
King.
(Continued on page 8.)
Statement of Condition
At the Close of Business
September 24, 1930
RESOURCES
p>ans and Investments 27,155,239.58
Ifcj. 8. Government Securities. • 7,164,268.22
Korth Carolina State Bonds.■ • ,i,naK«• 253,745.80,
banking Houses and Real Estate...,.»»>... iSs&>* «• 3,829,725.43
Cash and Due from Banks mi...... 13,339,352.55
Itproyth Savings & Trust Company Guaranteed Asset
Ayflimt '* *** 158,303.70
TOTAL $ 51,900,655.28
'
LIABILITIES
Capital Stock •• • •x, •• 9 2,500,000.00
Burplai . 2,000,000.00
UndlvM*) PraflU • • • « «ur» • ♦ • • m • n
896,679.99.
liMOaaf Diacooat . .0n... a.*™ 90,312.96
Baaan for Interest, Etc.... o: . -• 142,168J1
Bmvti for Depreciation 386,9*449
81110 Payable -* NONE
•••••• »u-.......... ........... 45,884,502.711
k TOTAL $ 51,900,655A1
Trturt Department msfU not Included In above.
• • mCHOVIA * •
V\ BANK AND TRUST COMPANY
# NORTH CAROLINA
ASHEVILLE WINSTON-SALEM RALEIGH '
• HIGH POINT SALISBURY
Capital and Surplus 4,500,000 %
COMMERCIAL BANK.NG-TRUSTS SAVINGS MEMMMBBttHI
SAH. DEPOSIT ,K*»>l M E N J S INSURANCE ■HttBNHHBBHHB'
Danbury, N. C., Wednesday. November 19, 1930.
EIGHT BANKS
CLOSED THIS WEEK
AH In Western Part of North
Carolina Liabilities Wer»
More Than Twenty-Two Mil
lion Dollars.
Eight North Carolina bank.-,
in and near Asheville, closed
this week. The Central Bank &
Trust Co., of Asheville, was the
largest of those which went oui
of business, having deposits of
more than eighteen million dol
lars.
Examiner Mitchell, of the
State Banking Department,
laid the failures to a hangover
from the real estate boom of
1025-1026 and the subsequent
collapse of real estate and se
curity values which made it im
possible to meet deposit rs' de
mands.
As stated all the banks were
located in Western North Caro
lina, and except for the Bank
of Lowell, in Gaston county, the
failures were centered about
the crash of the Central Bank
& Trust Co., of Asheville,
fourth largest bank in the State
and second largest smgle bank.
Seven of the banks closing
this week were State banks,
running the total for the year
to thirty-four.
BAILEY'S MAJORITY
WAS 113,073
Returns Are Not Official But j
Are Practically Correct —;
The Largest Majority Ever
Given Any Candidate In N. C. |
Raleigh, Nov. 10.—Returns
of the general election opened i
and compiled by the Secretary
of State give J. W. Bailey, j
Democratic Senator-elect, a
majority of 118.07." votes over;
his opponent, Congressman
Geo. Pritchard. The returns
will not become official until
canvassed by the State Board
of Elections on Dec. 4.
Two records were set in the
Senatorial race. Bailey re
ceived by 2,062 votes the lar
gest majority ever given any
candidate for State office in
North Carolina, while Pritch
ard polled the largest vote ev/:
given a Republican in an off
year election.
Senator Simmons, whom
Bailey defeated f r the Demo
cratic nomination, previously
held the Democratic record
with more than 110,000 ma
jority in 1024. H. F. Seawell
Republican Gubernatorial can
didate, drew 289,115 votes in
1923.
The Senatorial vote was:
Bailey, 323,620 ; Pritchard, 210.
547.
KING HAS
ANOTHER ROBBERY
Gaston M. Allen Suffers Stroke!
Of Paralysis—Several Births!
Are Recorded—Personal and
News Items.
———
King, Nov. 10.—Thieves er.•'
tered the R. B. Delp store on 1
East Main street Sunday night
and carried off a quantity oi'
cigarettes and other articles. A
wrist watch was also taken.
Entrance to the building was
gained by means of a skeleton
key. The broken key was dis
covered in the front door.
A farmers' co-operative meet
ing will he held here next Sat
urday night at 7 o'clock. Some
| good speakers will be present
to address the audience,
j Attorney and Mrs. ('has. Hel
sabeck were among the visitors
here Monday. -
Miss Connie Burwell, of Gap.
is spending a few days here
as the guest of her sister, Mrs.
C. T. McGee. in Pilot View.
Arnold Fulk and Mi ss Reba
Holland were quietly married
here Sunday. Rev. Paul H.
NeWsum officiated. Both young
pet pie are of King and their
, many friends wish them much
j happiness.
The following births were
(Continued on page 8.)
Th« Stat* library
Number 3,650
SATEMENT BY
WACHOVIA OFFICAL
That Hank Was Anked To Take
Charge of the Cash In Hank
Of Stokes County By John
.Mitchell, Chief State Hank
Examiner.
During the past few flays,
since the closing of the Bank
of Stokes County, rumors have
been circulating through this
section to the effect that repre
sentatives of the Wachovia
Bank & Trust Co.. of Winston-
Salem. had removed all of the
cash from the Stokes County
Bank, thus placing it beyond
the reach of dep':sitors >
A statement received today
by the Reporter gives the
facts in connection with the
transaction and will be read
1 with interest. The following
statement was made by a Wa
chovia official:
"On the afternoon cf thc
day on which the Bank of
Stokes County failed to open
! for business. Mr. John Mitchell,
chief State bank examiner, cal-
led us on the telephone l'rom
Raleigh and stated that the
Bank of Stokes County had
been placed in the hands of the
State banking department for
liquidation. Mr- Mitchell ex
plained that in liquidating the
affairs of the bank it would be
necessary to place all the cash
remaining in the vault of the
Stokes county bank on deposit
with some other institution,
and made a special request that
officials of the Wachovia Bank
k Trust Co. send representa
tives to Walnut Cove, transfer
the money to Winston-Salem
and place it on deposit to the
credit of John Mitchell, chief
State bank examiner, with in
structions that it be subject to
his check only. Acting upon
this request, the Wachovia bank
sent two of its representatives
to Walnut Cove where it re
ceived the money from the
hands of Mr. Taylor, State
bank examiner, in charge of
the affairs of the Stokes coun
ty bank. The money was then
placed on deposit with the
Wachovia Bank & Trust Co >t to
the credit of John Mitchell,
chief State bank examiner, and
jis subject only to his check t
| The transaction is one which is
j merely a routine in detail in
connection with the liquidation
of any bank, and the sole mo
tive of the Wachovia Bank &
Trust Co_ was to perform a ser
vice requested by Mr. Mitchell
and thereby render what assist
ance it could in helping to con
serve the assets of the Stokes
County Bank.''
Mrs. W- G. Petree returned
to her home here yesterday af
ter spending a few days at the
I Baptist hospital, Winston-Sa
! lem, taking treatment.
Miss Effie East, of Winston
| Salem, was a business visitor
I here today.