Grand Jury In Warren Re
turns Indictment For
False Reports
Wnrienton, Jan. 22.—Former offi
r:n 1 s c f the Bank of Warren, which
fniled to open its doors for business
on the morning' of December 24, 1981,
tmvo been indicted foi' violating the
banking laws.
The grand jury returned a true
l,ill l:il f Friday afternoon charging
ii. B. Orcgory, C. N. Wlillkams, j. G.
Kllirt, L. C. Kinsey and W. H. Dameron
officers .and directors of the Bank
Warren, with unlawfully and willfully
making and publishing false reports
in the condition of the Ikiok.
(*. N. Williams, of Richmond, Va„
v, ( i president of the bank; G. B.
ov.ry, now of Richmond, was cashL
ej, and W. H. Dameron and L. C.
Kit 'ey were directors. J. B. Ellis was
rn hier of the bank several year.*-
ngo.w
Making of false reports is charged
1(1 || M . indict moot, is being claimed
that the reports in «oveml instances
aid not truly set forth ihe bank’s
•liabilities.
In a eomplaint signed by- Gurney
j>. Hood, commissioner of banks,
against the same officials of the bank,
a compromise was reached when a
heating was held a year or more ago
before Judge Paul Frizzells in a wear
ily county.
This complaint alleged that "on the
first day of January. 1920, the bank
Wl ,s a solvent institution, having cash
on hand and other available assets
sufficient to p>ay off and discharge all
of its obligations to depositors and,
creditors and sufficient assets in ad
dition thereto to pay to its stockhold
ers the par value of their stock plus a
considerable sum in surplus and un
divided profits, but that on the 23rd
day of December. 1931 (by reason of
the negligent and unlawful conduct o.f
the directors and officers), said Bank
of Warren had become largely in
volvent that on said latter date the
total value of its capital, surplus and
undivided profits had bieen destroyed,
that, in fact, its capital stock had be
come* a liability against the stockhold
,i, instead of an asset; and that, even
after adding the amount realized on
such liability, the assets of the bank
were sufficient to pay only a small
percentage to its depositors and gen
eral creditors.”
The udgment signed by Judge Friz
zelle reads:
"It appearing to the court that the
matter herein complained of, having
been fully, finally and completely
rompromised and settled.
"li Is now, therefore, on moition of
Kenneth C. Royall and J. P. and J. H.
Zollicoffer, attorneys for the plaintiff,
ordered, adudged and decreed that
this action be dismissed upon the pay
ment of costs by the defendants.”
It was reported that the cost paid
in was $30,000.
The bank has paid a total of 50
per cent since it closed Its doors.
WASHINGTON!
at a Glance
By CHARLES P. STEWART
Central Press Staff Writer
Washington, Jan, 22. —Alexander
Troyanovsky, the Soviets’ new and
first ambassador in Washington, is
not at all the type of individual one
would expect to represent so prolet
arian a country.
He has social finish. He suggests
the aristocrat
And why not—considering that he
was a czarist army officer, already In
‘his mid-30's when the Romanoffs
were overthrown.
True, there were many aristocratic
radicals in Russia long before the re
volution, but no account indicates
that the then young Troyanovsky was
one of them. It appears that he joined
the Reds at ust the right psycholog
ical moment, but no sooner than that.
Anyway, he is of a wholly different
pattern from Commissar Maxim Lit
vinov, who arranged with President
Roosevelt, a few weeks back, for the
Russo-American exchange of recog
nitions that brought ambassador
Troyanovsky here from his previous
post in Tokyo. Plenty of sackcoated
informality characterized Comrade
Litvinov. Ambassador Troyanovsky is
■as diplomatically correct an envoy as
ever called at the White House.
He is a swallish man vertically, but
broad with a very erect figure, an
alert, snapping black eyes and an
anirnatte, vivacious manner.
His English is more scholarly than
Comrade Litvinov’s, but not so fluent.
In everything he says, he gives the
impression that he is watching his
step mighty carefully. Probably it it
natural that he should do so until he
is more lamiliair with his surround
ings.
Mankind Is more strongly aware of
the tilings which divide than of those
which unite it.
HIGH BLOOD PRESSURE
«inlrk Relief, or You Only Pay
When Satisfied
If you suffer from High Blood pres
sure, dizziness, ringing in the ears,
« in’t sleep at nights, feel weak and
shaky, had taste, nervous. If your
heart pounds and you fear a paraly
tic stroke, to demonstrate Dr. Hayes’
prescription we will send you post
paid, a regular $1 treatment on ab
solutely FREE TRIAL. While It is
non-specific, many cases report re
markably quick relief; often symp
,fmiH diminish and normal sleep re-
Ljrr.s within 3 days. Contains no
salts, physics, opiates or dope. Safe
with any diet. PAY NOTHING UN
LESS GREATLY IMPROVED. Then
tend si. if n qt improved your re
port cancels charge. Write Dr.
Hayes Ass’n. 6059 Coates, Kansas
City, Mo, (Adv.).
Relatives ReacK to Pay $200,000 Ransom for Bremers Release
'”“ 1 l^bjWW.^aSriSwCTM^'
While law enforcement agencies en
gaged in an attempt to track down
the abductors, wealthy relatives are
said to have opened secret negotia
Plan for a Sunday
School P.T.A. Meet
Plans have been made for having
a church and Sunday school P. T. A.
to meet the Presbyterian church on
Tuesday at. 7:45 p. m., it was an
nounced today. All parents and Sun
day school teachers are invited to
come and to take part in the dis
cussions that are planned for the
meeting. The topics for discussion
were announced as coming under
three general heads as Aims, Obstac
les and Aids What are our Aims as
Parents and as Teachers? What are
our Obstacles what handicap us in
the attainment of those Aims? And
what are our Aids, and how can we
make more ol? them?
Mr. W. D. Payne of the Henderson
high school has been asked to in
troduce one of the topics. Rev. D.
E. Earnhardt will introduce the sec
ond and Rev. W. C. Cumming will
have something to say about the
third. It is hoped that a frank and
free discussion will develop and that
tit g aaK m
C IW4, lioewr ft Uyau Taweco Co.
HENDERSON (N C.) DAILY DTSPATCK. MONDAY, JANUARY 22, 1934
tions to effect the release of Edward
G. Bremer, 36-year-old St. Paul bank
er and brewer, who assertedly is be
ing held for $200,000 ransom by kid
»
some very helpful things will come
out of the meeting. Not only parents
of the Methodist Episcopal and Pres
byterian congregations are invited to
attend but the meeting is open to all
of the city. It will be held in the
parents and Sunday School teachers
Sunday School Assembly room or So
cial Hall of the Presbyterian Church
on Tuesday January 23rd at 7:45 p.
m.
[.WORLD. I
at a Glance
By LESLIE EICHEL
Central Press Staff Writer
New York, Jan. 22. Inwardly
speaking, Wall Street cankers are in
creasingly opposed to President Roose
velt’s monetary plans. On the other
hand, the Wall Street speculative ele
ment is enthusiastic. Wall Street has
been divided into two sharp groups
since the advent of the Roosevelt
administration—the bankers and the
“sp-ecuiaitiors.”* (The public does not
napers. The family is said to be
ready to pay the ransom demanded,
which was received in a note •by
Walter Magee, close friend of the kid-
'seeni aware of this.
BOND FEARS ALLAYED
Even ' though Wall Street bankers
•oppose President Roosevelt’s mone
tary plane, they nevertheless admit
•that they are adroitly maneuvered.
When the president made it clear
that $6,000,000,000 in government re
financing would be needed, Wall
Street bankers feared that govern
ment securities would flood the mar
lcet,. to the. exclusion of all private
financing.
Then along came the message on
revaluation of the dollar at a stabiliz
ed figure—and there was a rush to
buy government securities. A stabiliz
ed dollar makes it one of the greatest
investments in the world, if not the
greatest. The dollar has so much ac
tual gold behind it, that it will be
difficult for the government to keep
its value in foreign markets depressed
to 50 or 60 per cent of its former
value against foreign currencies.
Os course, government bonds rise
or fall with the value of the dollar
in foreign exchange markets.
STABILIZATION FUND
If the dollar is to be kept down
| nap victim. Brewer is the third
wealthy brewer to lie kidnaped in St.
Paul.
in foreign exchanges even to 60 per
icent of its old value, it will take
every bit of the two billion dollars
the president plans to set aside for
the purpose to accomplish that, Wall
Street bankers believe.
The president would take the two
billion out of the nearly four bi-ion
“profit” that would result from re
valuation of the dollar. That is, if
half the g'old on hand is all that is
required to back our present cur
rency, then the other half is “profit.’
SAYS CHAPEL HILL
DELIGHTFUL PLACE
Chapel Hill. Jan. 22.—Chapel Hill
offers so many opportunity for keep
ing oneself young that an inhabitant,
if he treats himself well, ought to live
to be around 125 A. A. F. Seawefl, a
former member of the General Assem
bly and now assistant attorney gen
eral, told Chapel Hill Rotarians in an
address in their last regular meet
ing.
Mr. Sea well moved his family here
from San fold about three years ago,
and he has become so enthusiastic
about the advantages of the village
tfhait when the Rotarians asked him
to talk about the work of the attor
ney general’s office he switched to the
subeot of “Life in Chapel Hill” and
spent 90 percent of hi-s time discuss
ing that topic.
The way to keep young, he said, “is
not to live in the past but in the
present and hopefully in the future,
and that’s the way people in Chapel
Hill live,” he said.
“I often wonder if those who live
here fully appreciate the great ad
vantage we have,, such advantages
a» the greait university library, a
veritable storehouse of information
about everything under the sun and
as good as any in the South; the lec
tures, concents, and the celebrated peo
ple we come in contact with daily.
"We have here the things that are
really worth while in life, the things
hat make Chapel Hi'll 1 a, perennial
ispring of freshness.”
Throughout the course of human
history Mans attitude has been de
termined by the intellectual and moral
influences which have been impres
sed upon each individual’s mind by
the community in which he lived.
“Velly, Velly Nice”
§§ « m in
9 tt Mm 9
IF -'
Mrs. Francis Hitchcock i
Representing a Princess of China in
the time and travels of Marco Polo,
Mrs. Francis Hitchcock, prominent
New York socialite, is pictured in
the costume she wore to the Beaux
Arts Ball in the metropolis.
(Central Press)
PAGE THREE
On L. N. C. Council
0 : |:V.
bl
Col. Earle P. Holt, well remember
ed among sports fans of 30 years ago
as a star first baseman and captain
of the 1902 University of North Caro
lina baseball team, was elected by a
close vote in a mail ballot among Uni
versity alumni over Dr. David T.
Tayloe, Jr., of Washington, N. C., to
sit as a representative of the Alumni
Association on the University Ath
letic Council. Col. Holt’s term will
continue through 1936.
He has achieved prominence as a
teacher and athletic coach at Oak
Ridge Institute near Greensboro, and
since 1929 has served that institu
tion as president. Other alumni rep
resentatives on the governing body
of university athletics are Dr. Foy
Robertson, of Durham, and Ben Cone
of Greensboro.
Morality forms the unwritten fun
damental law upon which society is
founded, having no other sanction but
the voice of public opinion, and the
self-condemning conscience of the in
dividual.
“B. C.” Relieves
Your Headache
In 3 Minutes
Realizing that no one drug can re
lieve all headaches, as they come from
so many causes, a North Carloina
pharmacist has developed a combina
tion of several ingredients, so blended
and proportioned as to relieve almost
any headache in a few minutes. You
can get this formula wherever drugs
are sold under the name *‘B. C.” 10c
and 25c packages, and when you have
one of those violent nerve-racking
headaches, from inorganic causes,
“B. C.” will give you soothing relief
in three minutes. “B. C.’’ should also
be used for the relief of muscular
aches and pains, common colds and
neuralgia, reducing fever? and for
quieting a distressed nervous system
without opiates, narcotics or such hab
it forming drugs.—Adv.