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TITHE FREE IS A FREE AM) 1. JTENDENT VE E.NTKK HIE FIELD s the srr i;s-ou or the HERALD. WITH THE IN TENTION OF SENDING OUT FROM FOREST CITY THE REST PAPER IN RUTHER FORD COUNTY. NEWSPAPER, VOTED TO THE ENLIGIITNMENT AM) UPBUILDING OF FOREST CITY AND RUTHERFORD CO. (AND FOREST CITY HERALD) OLD SERIES. VOL. V; No. 16, NEW SERIES, VOL. 1, NO. 12 FOREST CITY, N. C. WEDNESDAY. DECEMBER :U, 1913 WEEKLY Price, 1.00 l'cr Year in Advance T! Free NEW CURRENCY BILL IN FORCE Washington, Special. The new bill affecting the currency, banking and finances of the country, is one of the most far-reaching meas ures relating to finance that has been enacted in many years. The magni tude of the subject, the diversity of interests affected, and the length of the debates in both branches of Con gress, has made it difficult for the ordinary observer to follow the changes and grasp the essentials of this highly teehninal measure in its important bearings on money, finance banking and entire range of fiscal subjects, public and private, which it affects. With a view, therefore, of presenting succinctly and in non technical language, an epitome of the salient features of the measure as finally framed, the following sum mary is given of the bill as a whole and of its principal details. First Steps Taken j Generally speaking, the first steps ( to be taken to bring into operation the Nation's new financial system j will be through an organization com- mitte consisting of Secretary of the Treasury, Secretary of Agriculture and Comptroller of the Currency. Banks have sixty days within which to hie their applications for membership in the new system :and one year's time is allowed before the Government will compel the dissolution of any National bank that refuses to join. The new law will make little di rect change in the operation of the present National banks, except to al low them to loan a certain amount of their funds upon farm mortgages, Its chief purpose is to add a new piece of machinery to the banking system that, will "take up the slack" during the changing business condi tions of each yea y that will give the the banks a place to quickly convert their assets into cash in time pi." need and that will bring out new Federal -.,; -wfevn rwt4s " tire it when money becomes "cheap." Banks are not required to keep a certain pereentagi of their deposits as "reserves," part in cash in their own vaults and part of which may be redeposited in the banks of New York, Chicago, St. Louis and other designated cities. In times of sudden financial demands when banks have loaned up to the full limit of their resources, these reserves furnish little n !::', because if they are out to i:'.cct demands, the bank: paid : are left in a precarious condition. BASIC PRINCIPLE Basic .Principle The ba.-ic principle of the new law is to get these reserve funds out into circulation when necessary, without .v..-,.-.....,, and to provide a place to which local ' banks may rush in a crisis and get cash for the "prime commercial paper" they hold in their vaults. This is to be acomplished through a "chain of reserves," in which all banks shall deposite a stated part of the money they are required to hold as reserves. Under the new system when a financial flurry comes, the banks con take commercial paper, such as notes, drafts and bills of ex change, to these "reservoirs," and se cure the use of their own reserves, or if necessary even the reserve of other banks, by depositing this se curity . The new regional banks will re ceive about one-half of the bank re serves of the country. Trey in turn will be permitted to loan back to the banks all but 35 per cent of these reserves, so ' trat in case of emer gency, millions of cash can be brought out into circulation quickly. The banks will haw to pay for these loans, however, as individuals have to pay for a loan from any locrl bank; and this charge is expected to pre vent the too-free use of the reserves held by the regional banks. New Paper Currency A new form of paper currency is also provided for, to come out in case of emergency, and which is expected to go bock into the hands of the Government when times are normal. These Treasury notes' will be print ed by the Government and issued through each regional reserve bank, and will bear the guarantee both of the regional bank and the Govern ment. a binha apny io b ietnoieatoietact If the demand for currency in any section of the country exceeds . the supply of circulating money a region! hank eun secure this new money from the OoveT. me-nt end put it ir.tn c cu'.aivn: ou! a ir:c reso -ve -f Vr A Growing Institution irst National Bank One of Ruther ford's Most Successful Enterprises Few banking institutions in North Carolina have grown as rapidly as the First National Bank of Forest City. This institution began business Oc tober 15, 1901, under a State charter, it then being chartered under the name of The Forest City Bank. The original officers were Dr. G. E. Young, president; Thomas P. Rey nolds, vice president and J. S. Biggerstaff, cashier. The bank be gan business with a capital of $12, 000 and the first day the deposits were .$3,718.76. One year later the deposits had incresased to $26,755. 28. Mr. T. P. Reynolds removed to Asheville during the year 1905 and Dr. Geo. P. Reid was elected vice president, he and Dr. G. E. Young still hold their original position;; in the bnak. On January 1st, 1908, Mr. J. S. Biggerstaff severed his connection with the bank and Mr. V. W. Hicks was elected Cashier. The deposits in the institution at that, unie amounted to ?.jo,0-'.1 AC. The di rectors then began to discuss ihn feasibility of inceasing the capital stock to .$25,000 and entering the SVStem f m.i mm.l tnnl-. n.l h:s, ami on March 27th of that y.-ar, a meeting j oft Stockholders was held r.t Yu,ich time it was decid national system, the comptroller granted a chart of "The First Forest City". T! d to :!' irae to lhe I ; 2S, 1908, j currency . On Jul; or the v under National I-.- bank the name steady ghowth ever sinre, evidenced by ber 15, 191:5, deposits had 07, although the fact tV. its lasr s incresased four oth been organized meanwhile. in two negroes shot at Harris! station Tom and Arthur Walking Badly Wounded in Small Ri,it Christmas Day Shots Believed to Hae Been Fired by Their Pals . Tom and Arthur Watkins, colored, were flint and probably seriously wounded at Harris Station, 15 miles south of Forest City, Christmas day. The t rouble, occurred about the noon bou,- in Hicks' drug store. The neg roes, it, is said, were di nktr. j. Accompanied by a number of friend:-, they went into the si .ire and one of the::i walked behind a counter ami began removing articles from a showcase. He invited his friends to step up and help themselves. At this juncture Clerk J. L. Robbins ,.,..11.,.. I 1 ,..l.....l f "lcl " ",uu out. The negro became indignant and drew flashed a his gun. Another negro knife, while others made preparations for a fight. Several white men were in the store and they rushed to the aid of Mr. Robbins. A general mix-up ensued, during which both of the Watkins negroes were shot in the side. Mr. Robbins did not have a gun and it is believed the negroes were wounded by their pals, the shots being intended for the white men.. Arthur Watkins' kidneys was punc tured and he was dangerously wound ed, while the other negro was not so seriously hurt. The only explanation given of the affair is that the negroes were crazed by drink or it was a bold and deliber ate attempt at robbery. Mr. Bobbins has issued warrents for the negroes and as soon as their condition will permit the matter will be aired in the recorder's court. cent, and commercial paper equal to the full value of the note, must be held as a reserve behind each note so ssued. This provision is expected to be the influence that will drive the new money back into retirement when it is no longer needed. The following analysis presents the details of the new law without ad hering closely to the technical divi sion or language of the measure. At the head of the tystem will stand a Federal Reserve Board at Washington, appointed by the Picsi- dent, and to consist of the. Secretary of the Treasury, the Comptroller of the uierrency anq, nve omer mem- bers. Two of these shall be exoert bankers, but none shall have bank ing affiliations or own bar.k stock during their service-. This board will exercise general centre 1 over tV." en tire system. v J I ; Mr. and Mrs. Joe Bridges spent part of the Holidays at Greers, S. C, with Mrs. Bridges' relatives. Mr. and Mrs. B. Arp Lowrance of Charlotte visited relatives here Christmas. Mr. Lowrance was for merly connected with The Forest City Herald, but has for some time, been wit hthe Western Newspaper Union. He has risen rapidly since leaving Forest City and at present holds the responcible position of news editor for his company. This is very grat ifying to his many friends in Ruth erford. Miss Lillian Harrill, who has been teaching school at Gates, is spending the holidays with le'atives in Forest City. Mr. Spurgeo i Mo:;s of Car.ileen was a holiday vi.mo at I hi' home of his father, Rev. T. 3. Mo---. Mr. Marion LeJiK-lte : is ai home ,0,n. b0lllllK V.3, doing a guest 01 Ills latner Mr- " l"'. !JU!i. tst Ul IOWU. 1Hr- 1 uianion or a-miter v.a, a Forest City visitor last week. Mr. M. W. Harris of Hamlet spent Christmas in Forest City with bis parents, Mr. and Mrs. R. K. Harris. Mrs. Lula Moore and daughters, Rank of ivllsses l orinne ami ftaran, are spena-.-; had a '" tne holidays with relatives in which is Spartanburg. iicto- I V' Henderson of Macon, (la., lent, the spent the week end here. j2J,'iiiL- I Mr- Gary Hiott, editor of the Pic ;,ks had L'ns S. C, Sentinel, was a holiday v in the visitor in Forest City. j Mr. J. Q. Padgett, of Ellenboro, renorls a ouiet Christmas in his sec- , r , j lion. Tr Hovrr-'nx-'' IVi''o'j nf AI on'oo spent a day or two here Inst week, guest of his parents, Rev. and Mrs. I'.orn :.o lien, and .'' ' ' ' "ii J. A. Bowles. Sunday a V'"1- Mr. Claude Young was a business Dr. and,' Mrs. J. U. Gettys spent fisitor to Charlotte this week. Chrstmas with Mrs. Getty's mother, Mr. T. R. Pa.lgett spent Scnday in Mrs. John E. .McFarland. Union, S. C, guest of Mr. W. M. Bar- Mr. Char les Haynes of the Ameri nett, former superintendent of the ean Tobai co Company, with hcad Floienee Mills of this place. Quarters ' T ' J' har.i. was a guest, of Miss Mary L. Bowles teacher in the Ihis brot '?. IK Frank K. Haynes. Asbeboro High School is spending the holidays here with her parents Rev. and Ms. J. A. Bowles. Mr. "Cam" Jenkins of Greensboro and Mr. Ray Fumle'burk visited friends here Sunday. Miss Beuna Harrill pleasantly en tertained a few of her friends at her home on Broadway, Saturday even ing. Misses. Avalonia. Migman and Ber- f ; Kin daughters of Mr. Pink Kine; of gi,eiby are visiting relatives and ' f:n,ia v,.fl Miss Annie Bridges delightfully en tertained several of her friends Mon day evening. Miss Mary Edens of the High School Faculty is spending the, holi days with her parents in Pembroke. Miss Annie Arledge teacher in the Graded School is taking her vacation with her parents in Columbus. Dinner For Convicts The "men in stripes" were not for gotten Christmas day. Superinten dent Clark and his associates gave the men a good dinner and a dap off There are twenty-two enrolled on the gang, and every one seemea io en- ;joy his dinner and rest. CARD OF THANKS Mr. Editor: Please allow me space to express my appreciation of the kind remembrances shown self and family by friends and members of 'the congreation during the holidays. C. C. Carson, Tastor Presbyterian Churrh. Miss Long Entertains Miss Ottilie Long was at home to ;a number of friends rriday night at her home on East Main street About thirty of the youger set enjoyed Miss Long's hospitality. Miss Margaret Youncr was winner in the tw.es t. Refreshments added to the evening.-; enjoyment. ' . The cornerstone o! so'jrvi uran-'o i - 1 Ml ... I Iteaee in .ir-'i, liioi. wi.i o. i.-- Dxvid l .toy-1.' Mr. Joe Reinhu'dt of Lincolntou spent the holidays ere with his fa ther, Mr. J. K. Kein'nardt. Mr. and Mrs. J. T. McGregor visit ed Mr. McGregor's old home in Anson county last week, Mr. Roland Padgett, a former cit- izen of Forest City, but now of Lin eolnton, was a visitor here last week, At- ir.,,.,... r:.;..tt n.i.;,..A igetl. tirday from IIartvi!le, S. ('., where he went with his mother t spend Christmas with relatives. Mr. Pad gett is connected with the C onipton Loom Company ai d will be located at Kannapolis for k veral weeks. Mr. Tracy Pro or o ' Yorkville, S. C, came up to spend Christmas with his parents, Mr. an,! M s. R. D. Proc tor. ) Mr. Free K. Webb arrived from Canton SiintUy to be the Kuest of his mother, Mr- Mary Webb, for a few aays. Mrs, .lui i Daniel- of High Shoals .- .-.j.cii,.,..- relatives am: frii nils. I Miss GW.'i. s Flack of Galfney is the chiJi-miiu1 guest of Misses Mane and Ro'iliie Higgerstaff. Miss Nelle Young, a member of the junior class Queen's College, is spending the holidays here, with her father, Dr. G. K. Young. Prof. W. Ross Hill of the Forest City graced school is visit intr his parents il R..therfo:-dt.on. Hon. J.F. Alexander is spending some time! at bis winter home in St. Petersburg! 'Fla. Mr. Clarjence Youn: ;l .Mr. Roy Lovelace. Who are en;.- the oi gia, boli- ,OIL. I 'lumber bu.-Ains in miuUi Ce ! prif, m tiJ snenil a liart of days with In Natives n. il.i t.1( I Sunday Miss Cla rie Read cnleriaju .; a large number of he fiends lYh ay evening in honor of her guest Miss Katie Read of Ruthcrfordton. Miss EIT.e Lynch of the Graded School is spending the holidays with relatives and friends near Gilky. Tu sday evening Miss Cordie Har rill gave supper to several of her girl friends after which a general party was enjoyed, Miss Ediih Hoyle a charming foung lady of Shelby is visiting Miss Ruth Williamson here. Bom to Mr. and Mrs. Z. C. Bridges Monday evening a girl. Misses. Mae and Ada Bridges are spending the holidays here with rela tives and friends. Miss Bertha Rclnhardt entertained a few of her friends Saturday even ing. lNDER SUSPICION Man F?'!5iig Description ui' S. MtvJerer fiken in Ten,' Louis Ex-Chief of Poliece Mauley watched a strange one-legged man meander about town last Tuesday until! he bo- cine convinced that he wa Jesse ;Ray, wanted in St. Louis for double murder. While Mr. .Munlev was looking over his buiuh of re - wards the suspect left town, bat Mr. Mnnlpv at. once nicked un his trail and came uuon him near Bost. :. The man nut. un n stiff denial but failed ,J tQ . R d account of himself and ; Mr. Manley landed him behind the bars at Rutherfordton. The St. Louis authorities were notified and they wired Mr. Manley for a photograph of thg man After much parlyinK jt wag Recured atld mailed t0 the St. Louig chk,f of poIjce and an ofik.tr ia .vn)p,i jnilv t iim the susnect. Banquet at Henrietta Tfin Masons of Henrietta cave t5C;r annuai banquet Saturday night in 1ho Masonic hall at that place. A ',li;.i, ,,r :n..iri tram near- ! , ... j i by town-! wero present ana we eve-, i:ir was a moiit pleasant one. 1 vi'l lwv i tso.'O Piae. harden t!' '. of , he USING BIBLE AS BLIND, HE DRUGS GIRL WITH RING CHICAGO, Dec. 27. The poisoned ring, the deadly weapon of the Ror gias, has made, its appearance in Chi cago. Miss Opal Hummer, 20 years old, and pretty, was jabbed in the second finger of her right hand last night in the Union Passenger Station as she shook hands with a strange man who posed as a missionary and carried a Bible. Scores of persons were on every side in the station, a constantly changing crowd, of which some were i always moving and creating a certain I . i. i- , I amount, m eouiusion The situation enabled Miss Hum mer's assailant to escape, for as she ran toward the ticket office, calling for help, everyone looked at her none, apparently, at the man who sneaked away. Going Home for Chrilnan Miss Hummer is a student at the ! Betheny Bible Institute, No. 'M'l'i, j West VanBuren street. It is a Dun jfcard institution, and she, like all oth : ers there, wore the simple costume, including the little poke bonnet. ; She lives at Dunkirk, Ind., and was ,on her way home for a Christmas i vacation when attacked, j "I had been watching the crowd," said Miss Hummer last night, "and 1 found it a very interesting sight. 1 suppose many or the people were going home for Christinas, like my self, and most of them appeared very happy. Sits Down Beside Hir "Suddenly I realized a man was , watching me, and I knew that I hud : eon him before. Then 1 remember i hat he had walked past me two or turee times as I sat there. "I was just wondering w hy he look ed at me when he came over and sat down beside me. I sat; very still and looked straight ahead. He bad a book under his left arm. He transferred n o."";-' ri.v.. .v s- 1 did not pay any attention to him. It would not have been polite or nice of J n ,e. "Then he spoke to me, and said: 'I see by your garments that you are a missionary. 1 also am a mi-sionary, and, extending his hand, he displayed a Bible, the book he had held under I. s arm. "When 1 saw that, it seemed very; . Vercnt, you know, and 1 said: 'Oh, a you a missionary?' And he said, ' os,' and that be was on his way to to Wisconsin to engage in missionary v rk in the lumber camps. "1 guess we must have talked all of ii i minutes, and finally he said ne w uld have to be going, and he reached out hi shand to say good-bye. 1 held out my hand and he seemed to clasp it very tightly, but good friends do that, you know. "He said 'Good-bye,' and 1 said, "Good-by,' and when he let go of my hand he started to back away from n e. Then like a flash, I felt a sting ing sensation on my finger and my hand and arm began to feel numb, Had Read of Cases "I turned and ran. I thought I was going to faint and I didn't want and. he seemed to be fading away, to faint near him, for I had read in the newspapers of how some men in New York pretend that a girl who fainted was their sister. And I didn't want him near me if I fainted. "So I ran toward the ticket window I was so frightened and faint that I guess I couldn't really scream, and I had so much trouble making anyone i understand me. j "But a gentleman saw what was wrong and called a polieceman, and ' he took me over to the matson, and so ;' l'"'"y j-V.v arm is still numb and feels queer i . .... TMi l- ..ii !a!ul ti'lgling It felt a good deal e morphine makes you feel when it first given you." Dr. Miller, after a hurried exami tion, said: 'It looks to me like a scratch, or ;ab from some pointed instrument, must have been something con ded on his thumb or one of his trers, like a pointed ring." Capture Two Stills Deputy Collectors Stewart ann Quinn added two more illict distill eries to their list last week. The first one they bak'Kcd was located 8 m,les souinwesi oi luar.on. it was a sheet-iron affair and along with it went 500 gallons of beer. The sec- jona point was lounu just east oi Kings Mountain. Try our Job Department ! WIDE WORLD The. Federal circuit court of New York, has declined to issue an order restraining a jeweler of that city from selling Waltham watches at losslhan the manufacturer's scale of prices. Tiie dealer buys his watches in Eu rope and ships them to the LTnited States, underselling regular dealers'. New York city has Li'j different kinds of manufacturing industries, clothing and millinery standing first in volume and employ a quarter of a million people. A plot of ground, 734x100, located at Fifth avenue and 42nd street, New Yoi k, changed hands last week alis'107 a square foot, a total of 2,250,000 The mother of ('has. Becker, the condemned New York police lieuten ant, died Friday. She never knew of the desperate jdight of her son. Postmaster General Burleson is asking congress for an emergency for appropriation of $1,000,000 to oper ate the parcel post department to June ."10. J. A.Alford was iound not guilty of the murder of W. S. Coulter, at Trenton, Tei n., Friday. In August last Alford shot -W.S. Coulter and hii son Hardy Coulter, lawyers ro death.The env.ritten lr.v was the de erse. Secret service officers arrested a g:tr.g of fivj counterfeiters in a cab in in the woods near .fole fjielwv. Fru'ay. Two .' ed women :ne lorr f . PiUslvj civic sj.-". & are aid ing the o ice in enfor.'ii . in-- i'i sjiitir.,; Gioin'ance of that ci:. II. 1. Nowlan, a lawyer of Peoria, 111., committed suicide at Galva, 111., Thursday night, by throwing himself in front of a passenger train. He had forged names on a note for $3,000 and a warrent had been issued for his ar rest. Within four days after a new chief of police took charge in Macon, Ga., last week he has confiscated two car loads of illicit liouors. Dr. B. C. Clai L Hyde is soon lace his fourth ttia' at Kansas CiTy, i'do.. . . . ..... .... ...'. k.'..,... i. Swope. Yeggnien M'v- , n at Ttr rel, N. C, Friday morning and got a way with about 85,00, part of it be longing to the Terrel postoffice. Alabama women will petition fho next meeting of the legislature of that state for a law enfranchising wo- Troutdale, re.,on Saturday, elect ed a woman mayor, the second woman to be elected to that office in the .-tate. Eight thousand extra postal clerks have been put in the railway mail ser vice during the past few days to help handle the Christmas business. John Alexander Gladstone Dowie son of the founder of Zion City, has been ordained as an Episcopal minis ter in Chicago. HORN-WILK1E Popular Forest Cily Couple Surprise Their Friends Both Well Known in This Sertion Mr. W. Lester Horn and Miss Ber niee Wilkie drove to Rutherfordton Saturday morning and were quietly married at the home of Judge and Mrs. M. H. Justice, the ceremony be ing performed by Rev. R. II. Herring pastor of the Rutherfordton Baptist church. Forest City has had several sur prise wedings this fall and winter but none of them was a greater sur prise than the union of these young people. Miss Wilkie has been atten ding school at Hot Springs and was at home for :the holidays and no one dreamed that the young people were contemplating the step at this time. Accompanied by Mr. and Mrs. Earl Fortune, they drove to the county seat and had the knot tied. Mrs. Home is the daughter of Mr. and Mrs. C. A. Wilkie. She is young, pretty and popular and has a score of friends in this section. The groom is one of the city's leading business men. He is book-keeper for the Flor ence Mills and secretary and treas urer of the Forest City Building & Loan Association. By his sterling business qualities and gcnal manners he has gathered about him many friends. Mr. and Mrs. Home will make their home in Forest City. Few Cases Before Recorder The County Court has been almost at a standstill during the holidays, only a few minor cases of drunk and disorderly being chalked up on the docl of. l.'evovder Blanton is off on a Week's vacation t.nd Pecr'-de'' Pro Tern Horace Elliott is at tV M . J5- "V
The Free Press (Forest City, N.C.)
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Dec. 31, 1913, edition 1
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