THOR COMPLETE HOME LAUNDRY
HOME HEATING
Heating Equipment by Coleman
LOYD ELECTRIC & HEATING COMPANY
Telephone 7535 1113 Battleground Ave.
GREENSBORO, N. C.
Shop at Sears
and Save
SEARS ROEBUCK AND CO.
Greensboro’s Only Complete Department Store
201 N. Eugene Street Greensboro, N. C.
Greensboro Morble fir Tile Co.
CONTRACTORS AND ENGINEERS
Tile, Bathroom Accessories, Medicine Cabinet, Marble,
Linoleum and Rubber Tile, Flagstone Work,
Composition Floors
1711 Spring Gordon St.
GREENSBORO, N. C.
Henderson-Martin, Inc.
CONTRACTORS
Generolg Repair Work
Painting and Papering
1220 left leg round Ave. Phono 2-2183
Greensboro, N. C.
"Whom Your Business Is Appreciated"
TUCKER JONES FU^Nl'mR^^
FURNITURE. CARPETS. STOVES, RANGES
AND ON EASY TERMS
See Us Before Buying
Good Furniture of Lowest Price
341-343 S. Elm St.. Dial 3-1308
GREENSBORO, N. C.
TRUITT MFG. CO.
MECHANICAL SPECIALTIES
Phone 2-2291
GREENSBORO, N. C.
Geo. C. Brown & Co.
sj:
Greensboro, N. C.
Manufacturers of
AROMATIC RED CEDAR
CLOSET LINING
CEDAR LUMBER
-0- * -*- 71
CEDAR VENEER
; •*. ■ •••
Bank Of Charlotte Reports
A Highly Successful Year
The Bank of Charlotte had a highly uccessful year in 1950, it was
reported by T. M. Shelton, president, at the annual meeting of stock
holders.
The stockholders re-elected the following directors: T. M. Shelton,
T. C. Abernethy, H. E. Coffin, T. M. Driskell, George H. Roberts,
I. C. Shelton, J. W. Sheppard and A. T. Sheppard and A. T. Wohl
ford. x
Directors st their meeting re
elected officers as follows: T. M
Shelton, president; H. E. Coffin,
C. E. Horne, T. C. Abernethy, J.
C. Shelton, end T. B. Watkins,
vice presidents; D. D. Godfrey,
secretary! John W. Horne, treas
urer; George T. Carey, Jt., on
leave of absence in military serv
ice, vice president and manager
of the mortgage loan department;
and W. R. Todd, assistant vice
president.
Mr. Watkins, who is in charge
of the bank’s public relations act
ivities, reported that Mr. Shel
ton pointed out to stockholders
that the Bank of Charlotte is the
largest single unit commercial
bank in the city and that it ranks
fifth in sise among the local com
mercial institutions. He said
that the business done in 1960
justified the optimistic outlook
for the year which was expressed
at the last annual meeting.
Profits Higher
Assets of the bank at the close
of 1960 totaled more tnan $7,500,
000 reflecting a net growth over
the preceding year of approxi
mately $500,000. Profits increased
50 per cent before taxes and div
idends and are still highly favor
able after allowances are made
for these items, he aaaea.
Mr. Shelton said this gratify
ing result is due principally to in
creased sound loans and to addi
tional income from investments.
The board transferred $50,000 to
the surplus account. In keeping
with improved operating results,
the extra dividend at Christmas
was increased, the bank paying
3 per cent at this time. Mr. Shel
ton added that the bank continues
to serve thousands of customers,
probably ranking second or third
place in the city in the number
of accounts served. It opened
more than 6,000 new accounts in
1960, more than 600 a month on
the average.
Mr. Shelton said the manage- |
ment finds the public appreciative
of the service* the bank offers,
especially in individual personal
loans. Christmas Savings clubs,1
and all other banking facilities,1
which are available daily until
the closing hour of 5 p. m.
The institution finds that the
public is making an ever increas
ing use of the services which this
bank provides in the afternoon as
well as in the morning business .
hours, he said.
CAROLINAS STORES
Sales Show Increase
Increase in the volume of de
partment stores sales in the
Fifth Federal Reserve district for
‘
11 months of 1950 in comparison
to the same period in 1949 was
reported yesterday by the Fed
eral Reserve Bank of Richmond.
The survey included 103 de
partment stores in Maryland, Vir
ginia, West Virginia and the Car
olina*. For the whole district,
there was an increase of 2 per
cent for November a year ago,
of 4 per cent for January through
November, in comparison with
the same period in 1949, and of
5 per cent for February through
November in comparison to the
same period in 1949.
The North ‘Carolina stores re
ported 1 par cent increase in No
vember of last year and 4 per
cent for the period of January
through November.
South Carolina stores reported
increases of 8 and 6 per cent,
respectively, for the two periods.
Employees Sample
Firm's Products
To promote cooperation between
executives and employes, a Mass.)
chusetta manufacturer sends all
employees samples of each new
product before it is placed on the
market.
This chief executive believes bis
plan gives the company the advan
tage of word-of-mouth salesman
ship, and at the same time gives
employees a feeling of being con
suited about their productions
Every employee gets a package tf
company products eo his marriage
CHARLESTON PORT
Gets Textile Trade
Charleston, S. C. (Special) —
Substantial freight savings to
Piedmont textile mills using the
port of Charleston on export
shipments are cited in the De
cember Textile Industries, nation
al trade paper.
“Shipping costs of textiles sent
to foreign dr even distant domes
tic markets can amount to a con
siderable part of the total price
a year,” the article states.
“Prior to 1947, the great ma
jority of the textiles shipped out
of the Piedmont (arolina region
for export went through the port
of New York.
“The full-scale operation of the
port of Charleston' has made pos
sible big savings for the textile
mills in the Piedmont Carolina
area. For example, the present
rail rate on textiles out of Rock
Hill, S. C., to New York City is
$1.52' per lCfO pounds. The raw
to Charleston is 56 cents per 100
pounds.
i . •
“Making use of the nearby
port facilities. Rock Hill Print
ing and Finishing Co. shipped V65
tons of finished textiles through
the port of Charleston in the first
seven months of 1950, and there
by saved their customers $14,
840.”
The first textile export ship
ment came through Charleston in
February, 1947. Subsequently
the Authority opened a branch
office at Rock Hill specialising
in textile solicitation.
OUTLOOK ON COTTONS
fa Called Favorable
The cotton goods outlook for
the next six months is highly fa
vorable, according to Leon Low
enstein A Sons, Inc., textile man
ufacturer. The high price of cot
ton, however, may be the signal
for reduced mill operation. Cotton
scarcity, he said, is the basis
for high staple prices.
Mr. Lowenstein based his pre
diction on the high rate of em
ployment and increase in consum
er income, and the substantial in
crease in the industrial demand
for fabrics. Better styling of
cotton fabrics and garments in
which they are a component part
has played a part also in the in
creased demand, he said.
“Most retail stores have not
made their purchases of yard
goods or of garments in large
quantities,” Mr. Lowenstein said.
“Retailers have been selling mer
chandise baaed upon their cost
of acquisition which, in many in
stances, is very close to their
present cost of replacement. They
have reduced their inventories on
popular priced garments and yard
goods material. I can only at
tribute their failure to purchase
inadequate quantities to a lack
of vision and feel that after they
have found their inventories dwin
dling and begin to realise the
conditions, they will come into
the market with a rush. The es
sential question is whether there
will be enough to satisfy demand
when these large buyers enter
the market.”
'"Between The
Deadlines"
“After reading of the nudist
convention at Denver, we decided
civilization is only clothes deep,"
says Ed. Mary K. Taylor of The
Independent Review. Aztec, N. M„
and it sounds like a gem right out
of history. Egyptians, Babylon
ians, Greeks, Romans, Spanish,
French, English, and Americans—
on occasion they all wore finery.
Even the Russkies dressed up until
Communism reduced them all to
a dead level of raggedness, says
Carl C. Helm, Editor, IPS. *
“I forgot I'd never learned t<
swim, and jumped in after him.’
—*iB7-year-okI Oklahoma grand
mother after rescuing grandson, 7
from 10 feet of water.
“The nearest approach to immor
tality is a government bureau.”
Business Leader Sees
Social Progress Need
A prominent industrial leader
warned his colleagues against the
belief that business has little or
no concern in the struggle for social
progress.
In an address recently before
the Illinois Manufacturing Associ
ation, Clarence Francis, chairman
of the board of the General Foods
Corporation, declared that indus
trialists need to realize that they
are “merely servants’* of the peo
ple “who vote every day not mere
ly on our products, but on our poli
cies and our practices and our plans
for the future.*
He noted the wide variety of gov
ernment activities, pointing out
that “the reason government is
doing so many of these things is
that, somehow, people have been
led to believe that government can
do them better or more cheaply
than they can be done by private
business.” But business can prove
to the public that it can do these
things better and at lower cost.
Success will come “only as we
business men demonstrate that we
are working for all the people, not
merely for profits and progress for
»ur own industries.” Big govern
ment is “a by-product of the high
energy society in which we live."
" He submitted five major poli
cies which business should adopt in
order to make “our relationships
with big government more produc
ive of benefits to all.”
“First, we can give to our own
employes so much dignity, opportu
nity, security, and recognition that
we can settle our own industrial
disagreements. . . .
“Second, industry should inter
est itself in better homes, better
health, better education, and bet
ter general progress.”
Third, business must improve its
>wn standards and ‘'be fair and
honest in all our own dealings.”
Fourth, business men must “cre
ate a better understanding of our
>conomic system.” Finally, what
they think and say and do “about
world organization, here and now,
will contribute to final judgment
on this fateful decision.”
Horses Cowed!
An American manufacturer has
made the milch cow a successful
competitor of the Argentine wild
horse in the production of—horse
hair!
Horsehair from the manes and
tails of Argentine horses has been
selling for $1.25 to $1.40 a pound
Now a fiber made from skimmed
milk is being tried out by horse
hair mattress and furniture mak
ers. It costs 94 cents per pound.
"A dollar a year man is a fellow
who has a dollar left after paying
his taxes.” — Radio Commentator
Ed Fitzgerald.
WHAT'S NEW
"England is suffering from a
plague of aunts.”—Vermont paper
• i
Form Equipment
Research Planned
A Detroit manufacturer has an
nounced plans for a “multi-million
dollar research program” in ham
equipment.
The program includes a study of
existing equipment to see if it can
be improved, and a study of crop*
tfc mi bow farm equipment cun
increase productivity at lower cost.
The mw plant Will take an 78 to
100 new tmployoes.
“The judge elected from the
Husband a promise that be would
kill bis wife ovary morning be
fore leaving for business.”—Vir
ginia paper.
Every Kind of Insurance
May Be Bought From
CHAS. C. WIMBISH INSURANCE
AGENCY
Southeastern Building
«GREENSBORO, N. C.
Brewer Paint &
Wall Paper
Company, Inc.
PAINT fir WALL PAPER CONTRACTORS
1612 MADISON AVE. TEL. 3-2886
GREENSBORO, N. C.
McLEOD
COMPANIES
Incorporated
GREENSBORO, N. C.
MORE