North Carolina Newspapers

THE DANBURY REPORTER Volume 60. STOKES COMING OUT OF THE RED Showing of La'e Audit of Books of County Officers Out- StaatiKr(g Indebtedness Lit'U Over a M'llion- The following artjcle 4s reprinted from the WUnwtonJSalem Journal, January 19th: Stokes county, with its reverses of draught and bank failures, operated its county flncal affairs iai-i- within the budget and about $l.OO i) to the good, according to the find, inigs in an audit Juwt compJetcd by Car bis A. Walker and Associates. The auidlt of the county fund" as of June 30. 1932 and the clerk's office to December 1, 1932, but did ■not ©over the school af fa Irut1rut wince they are being audited by a no' he.- firm. As of June 30, l.iai year, the oor.n. ty fundrf had a combined surplus of $223,567.71, but thjs item include* oa«h In the dtpfunct Bank of Stokee amounting tn $178,161.65. The county ■then had 35.000 in ttie State Plant. er» Bank at Walnut Cove- The interest on l>ond& was paid up to date, but subsequent developments Indicate a default In the near future. Outstanding total bonded Jnt«dbet. mess was listed at $1,069,000 and of this $25,000 matures doming the year and' within the fiscal year lntei*eM aggregating $59,000 becomee due and payable. Taxes receivable on the .1931 lev. jes was listed an $83,000 and land «ales wene $51,600 on back taxes. The county owed $20,800 for capi. tal outlay in ♦he school fund and $651 on current expenses. The county school and debt »ei'V. vice fund showed a amall profit and the general fund a loss, leaving the county approximately SI,OOO ahead for the year. The audit of the office of the reg.» inter of deeda showed 'it to be ow_ Inff the courv'y $2,586.10 on June 30, 1982, and that this has been .paid In part since th e n, leaving a bal. ance of $1,165.60 due December 31. Since then reductions have been mode, A matter deceiving the attention of many good citizens was that of tnust fund." in the office of the clerk of the court und whlah were on de. poalt in the Bank of Stokes when it failed. An audit of the records of A. I. Fogg, clerk of the -court under a for. irter administration, throws a strong ray of light on this matter and re. ve:ile that minors and lyelns are not sustaining losses at present. The clerk owned trust funds ag. regit ting $21,344.67 on December 1, 1932. For the«e collateral aggrega*. lng $31,143,23 was held from the bank. Mr. Fagg now 'has $1,208.67 'in the bank. In the event he can collect all the collateral he would have funds '.n excess of the total trust funds, but that to not considered likely. How. •ever, he ba» agreed to let all col. lateral, including personal, stand tin. *H the matter is wlpped out. He has Include! his pennonal account for tit* purpose of paying out and in Addition a bond of $51,500 is signed by H. M. Joyce, C. E. Davis, E. R. V-ows, H. H. Davis, J. Wesley Moore. 'Wi E. O. Oreakman. J. M. Fagg . mii 1 Established 1872. Ehringhaus Asks Aid of Counties Raleigh. Jan 17.—G0 v e rn or 1 Bhrlnghaus' rentiers fight tor ec»n. omy >vas carried before the North Carolina Association of County Com. mjssioners at a call meeting here today. In addressing the assembled com.' miMslonera, Ehijnghaus stated that the expense of government must be reduced, all up and down the "ne- . The county commissioners. he said, have within their power t>he oppor. '.unity to save the state thioiusa/nda of dollars .if they effect neceasa''/ local economies. He explained he was-not trying io interfere with the commissioners in their own field, but was requesting them to do their par t in helping North Carolina balance its budget ■by economizing wherever tlhe.v can. Tile commissioners passed re»ol'j. tions approving an act to permit land owners a longer iwrjod in which to ifdeein ithej:- i>roi>e:tt" 'sold for taxes. I an act to give back to the counties one cen-t of thia gasoline tax for pay. ment on bonds, a 'horizontal reduc. : tion in property valuations, and of lan act to require the highway to ac. cept thlrty.day prisoner*!. Unanimous opposition was voiced i aigalrwt the Bowfe Murphy Flamnl. gon (/ill • proposing fco eliminate tax penalties and discounts. I 'At Bethesda Next Sunday ( Next Sunday at 11 A. M., at 80. 'he>"da M. E. Chiurch tihe Rev. Dr.' , Poovey. -presiding elder, will deliver | the nie*a»e. At the conclusion, of the morning service quarterly conference will be held- Rev. J. B. Needham, pastor, will' I fill his regular appointment at Vade Mcoum at ii P. if, and a ' Danbury at 7:30 P M. Public is cordl-i iy to at.' tend all these eervikC* To Organize Home-Making: Classes i ! The Horne-Muklig Classes will bo organized at the Banbury So!h,il building, on Monday at 2:00 \'. M.. JftP'jaiy 23, 1933. The Instructor of tiiepe Home.' Making classes la. Mrs. Beuiah Prost | Orady, who is very enthusiastic about better home*. and also, «h.?' is very efficient in this nature of' of work. We extend a cordial Invitation ro all of the women ot Danbury School District to be present. PRINCIPAL. VISIT OF THE STORK Leavlivsa: A boy at the (home of Mr. and. Mrs. Zeb Smith. A boy at the home of Mr, and Mrs. Clyde Ooln. and C. O. Boyles. Of counae 'there 'has no In. timatjon that Mr Fagg had -person, ally conducted the office in such a manner am to make the bondsmen j liable. Ttye whole trouble was with the failure of the bank, which c©u*i. j ty officials are maintaining they dli] not expect. Danbury, N. C., Wednesday, January 18 1933. REID JOHNSON j IS IN THE RACE j Well Known Winston-Salem: Attorney Announces For U- S. (Attorney—Stands Pine Chance. W. Held Jotinson, of Winston jSa. | iem, Tuesday announced hit) candida. cy for the appointment as U. S. attorney for the middle North. Car. ollna district. | The office is now occupied by J. R. McCrary, of Lexington, who -was appointed by President Hoover last year ond wa»- named to a tour year term. ' However, Presidents Wilson and Harding requested the resignations of all United States attorneys when they came into power. Whether this will be followed -by President Roosevelt remains to be seen, I -■ | Mr. Johnson, announced that he had nothing to say with reference to I the expiration of the term, but that i lie was making his application for ' the post whenever the President sees fit to turn it back to a Demo, crat. Mr. Johnson 4s a native of Stokes county and after receiving his law | training at the University of North Carolina, located in- WlnotonJSalefn in 1909 and has been engaged in the practice of criminal and civil law since that time- He recently suffered a period of illness 'but '« rapidly recovering and now has the .strength wMch would be inquired in vigorous duties of a government attorney. | Johnson was one of the original and 'unqualified Bob Reynolds aup. (porters, and this will go a long way towards setting the place ! Walnut Cove News 1 (From Stokes Record) ' J. W. Linville is at 'his home this week with a broken ankle. 1 ! | Carl Wall, mall carrier on Route 8 I.s quite) sick at his home near here will* flu and complications. The Burton home which was rtazed ' by fire some time ago is being torn down by workmen ithis week, I Dr. R. H. Hack-ler was called to Sparta the first of the week on ac. count of the critical nines* of his fathter at his home there. He is re. ( ported to be some better at this time. 1 | William Marshall, went to Ralelgti | ttie first of the week looking in on the legislature with Senator Sparger. | . i Mrs, E. O. Oreakman has been 111 the past two weeks with the flu. j J. C. Bailey is confined to his home wtth an attack of influenza. Cutting Expenses The expense of the date lnaugura. i tion of Governor Bhrlnghaus was five times leaa than the Inauguration .ex. oenses of Governor Gardner. . Bringing - Up Father. A Danbury mam a&ya he uvever | clashes with toils -wife, as she goes her way and 'he goeis Ivers. He aaya before they were married shfe used to soy "Bye.bye." Now she eays ''Buy-buy." (MAY GET LOAN PROM R. F. C. Liquidating Agent Bank of. Stokes Seeks «o Pay Off Bank's Preferred Creditors. , From the WinstonJStttern Sentinel: ' Looking to the filing of applies.' tlon for a loan by the Reconstruo. thm Finance Corporation to the De funct Bank of Sfcokea are under way, i according to revelations which be. came public through efforts to pur. i chane collateral no3e>» and mort gages held by the county of Stokes. ASK COMPROMISE | Carlo® Davis, cashier of the closed banking institution which hud a i home office at Walnut Cove and branch banks at Dam bury, King and ■ I ■ German ton. 'anil wihilch closed' No. vember 18, 1930, and L. L. Aycocl;. of Kreemont, liquidating agent ol i i .he bank, ihave approached the I Stokes county commissioners with a| I suggestion thait it hey surrender the , ooMateral held by the county on a t basis of twenty cent* l'or each dol. lar on deposit when the bunk closed. t The commissioners refused to , close out for that small percentage. FARM PAPER When the bank closed Stokes county thad on deposit $178,181.65; on certificate of deposit $466.68 an J I was due $9,105.55 on secured inter est. Collateral, put tip by the bank to guarantee the deposit?, totaled $2(2,331.48. Since moat of the loans by the bank we>°e to rural cit. izens- who were struck by the drouth and depression the amount which can be realized oil this king of pa. per, including many first and «e?- ond real estate mortgage* and open note*, is problematical. However, tlie twenty per cent, valuation placed on the actual de. ' posits of the county would Infer that the Reconstruct lon Finance Corporation would grunt an exten. slon on i very >mall itcrct'iitiiße. ! Representatives of the bank are' now making abstracts and fuch I other records ae are required by the Reconstruction Finance Corporation with a view of filing the applicu.' tion. Because of the expense invol. ' vod the Bunk of Stoke?, through Mr ' Aycock, made the proP'ajit'on to the county before launching ! n-to . the abstracting work, j WAIiNIT COVE TOO It is expected a similar proposi. t jon will be made to the town of ■W'alnut Cove. had approxi. mutely $45,000 in the bank when It closed. By reason of this and other | losses the town had defaulted J" the i payment of it 4 bonds, j When the liquidating agent of the Bank of Stokes resolved to attempt •to obtain a loan Crom the R. F. C. he considered it well to include all the collateral and. this led to the proposition being palced before the county commissioners. > Before such collateral as held by the county could be tendered .F. C. it 'must be released by the county. Therefore, the county com. miseilonere had 4o decide whether to take twenty cents on the dollar for the loss and get that amount now or await the course of collection# with | the 'hope of obtaining i greater per. (Jentage from the collateral. Mr. Aycock stated to a representa tive at the Sentinel that should the i Whatsermatter With The Doctors I , J. E. Nelson, ith e Buck Island un. dertaker, was here today, mighty { funereal looking, He did not say so— I he had too much tact for tha.—but ( orv Ihjs Molemn butt j fied visage Wi- thought w« could • detect symptoms that business i» dul'. I This tantalizing epidemic of fine health In the country—what is the matter with the dcctorn. i Mr. Nelson did not authorize the Reporter to publish ati advertisement reading like# this: "Hurry up, hurry up and die. while the cost of funer. i als is low. Our routes tax-exempt., Free ride to the cemetery, Etc." ! . DEATH OF AN OLD LADY i Mrs. Lizz'e Abbott Glideweli I Passes At the Age of 91. I Mrs. Lizzie Abbott Glideweli, of I Walln ui t Cove, age 91, passed away Sunday night sifter a lingering Illness of several years. Mrs. Glideweli had been mairried twice, both husbands being soldiers. She wtus first married to Thorton Tuttle. -co this union WHS born which died in mlancy. No child ren survive. Mr. Glideweli preceded . her to the grave six years ago. The deceased hod been making he>- home wiith Mr. and Mrs. Will RoX bin.«, near Walnut Cove, Mm, Rob. bins being an adopted daughter. Funeral services were conducted .it Clear Bpring Baptist church by El der Watt Tuttle and V. R. Hutcher. son. Interment followed in thi> church graveyard. Henry L. Edwards i Pilot Mountain —'Henryj L. Edwards age 83 years, paa-ied away at his home this morning at 7:30 o'clock. The cause of ihi* death wa« cancer. I I ! He had been in declining health eev. era I months. He leaves his wife and three daughters: Mrs. W. F. Donald. Pin nacle; Mrs. E_ D. Eaton, Pinnacle; . M-m Ida Combs, Pinnacle. I Funeral will be held Wednesday afternoon at 2 o'clock at Olive Grove Mi&lonary Baptist Church, conduct, ed by Rev. M. B. Phillips, of Mount Airy, with burial In church grave-' yard. I Moths, observes a London entom. ologi«t, are among the hist aggres sive and assertive of Insects. A cas_ ual view of the trousers of the old evening suit convinces us, also that that they are not averne to taking a back seat. —Boston Herald. , We don't know Just how far that J "rabbit fever" goes, but we imagine It Would make us boppimg mad to' catoh it bank obtain the loan from th|> R. F. C. on a basis of twenty per cent. It should raise enough money to pay the preferred claims and bills pay. able. Thla loan on this basis would not reach the common creditors or de positor*. This larger preferred claims arfet held by the Wachovia Bank and Trust Company and the North Caro. Una Bank and Tru*t Company. I Number 3,759 AMAZING IMPROVEMENT Danbury Cemetery the Sceae of Busy Pick, Shovel and Axe—> Th e Old Churchyard Nour a Different Looking Place. 1 A wonderful Improvement ha& *-*- en p'>ace in the Danbury cemetery. 1 Under tha auperlntendenty of B. P. Chrisijan a force of hand* with Cool* of various description luis been at work for several days on the old churchyard, trana.'orining it inrt*» a most surprising place of beauty. Naturally, the cemetery 1» situated In a very attractive .v I(0 t. elevated to give a flue view of the v-illago In t!ie near dtat&ncg, and tho mo'intai for a background. Trees that imped ed lowly prospect*. have been re moved, a graceful road arranged all around, and within the circle, the rroiv'l jw levelled and cleacned. of stumps, tual.es and rocks. Mount OHve. Yodkin, itown»h±p, it noted for it.-i \v«l! kept cemetery, and. the attraction of its location. Bat tho l>anbury cemetery's natural beau, ty is even more ideal than. Mountain View when cultured. Why not people have lovely ceme. terles anyhow? It I* the naattas place of our dearest memories, vndl the spot where we all expect to settle down permanently iiinlil i nfuHiaj. deafth takes us softly Into its arms. Legislature Raleigh, Jan 19—The Joint finance committee id under Instructions to report not later than Pberuary ft, and a vast amount of work remalne before anything definite cun be pro poned- It now faces thv . '»k of draMag a revenue measure which will cwuw antee the state uutfldent income .fee carry It through the next two yaaca. Th e Senate appropriations Com. mittee was biisy considering, recom— I mendatlons of the advisory budget j commission, determining where ex penditures can be whittled down aad where appropriations must be made to support vital work of the govern, jnent. ' I Two proposals for evaluation ef property were submitted to the Jolat finance committee by Jts subcenu. mittee on the valuation, j One measure advised 'that oouwty commissioners be authorized to make I horizontal reductions in valuatien. the reductions not to be more onethlrd of the present valuation. | The alternative would, permit the commissioners to make a simitar horizontal cut or order , a revalue, fcion of all property, with reduottaoa being made In accordance with the j decline of actual values. I A 'high brow Republican says that the I>emocratlc party is "the party of the unlettered " They m*y net be men of letter* but they'll be post masters In a few weeks. —South-* em Lumberman. But after the Government firt ' enough to balance the budget* bo* are >the rest of us ito budget the >nl iance ?—San Francisco Chromricl*. 6 6 6 LIQUID TABLETS IAIiTB Checks Colds first day. HMMbe Nenealgia (in SO minute*, lUlai*m fee * d«J«- 668 SALVE for HEAD COLDS. Moot Speedy Remedies Knows.