J— KM1THFIELD NEEDS: —Bigger Pay Roll. —A Modern Hotel. —Renovation of Opera House. —More Paved Streets. —Chamber of Commerce. ---f4 VOLUME 44—NO. 48 S. . V JOHNSTON COUNTY NEEDS: County Farm Agent Better Roads Feeding Highways Equal Opportunity for Every School Child Better Marketing System More Food and Feed Crops $2.00 PER YEAR MEEK1NS NAMl FOR TOBACC M. L. Corey, J. H. Pou and Hallett S. Ward Are Named Receivers Elizabeth City, June 19.—Fed eral Judge I. M. Meekins late to day announced the appointment (^f M. L. Corey, of New York City, James H. Pou, of Raleigh, and Hallett S. Ward, of Washington, N. C., as receivers for the Tri State Tobacco Growers Cooperative Marketing Association. Counsel for the association and for the Federal Intermediate Cred it Bank of Baltimore, a co-defend ant in the suit, gave notice that an appeal would be filed in the circuit court of appeals for this district. imiiit oiunt naiiMifu. Attorneys? for both sides ex pressed themselves as entirely sat isfied with the personnel of the re ceivership. The receivership order cites as reasons for the receivership that, from the facts presented, it ap peared to the court that the direc tors and officers of the Associa tion have so managed its affairs that it is either insolvent or in imminent danger of insolvency. It, the order, further sets out that the organization’s director’s, “high salaried officials,” and other agents and empoyees entered into contracts with themselves or with firms in which they were financial ly interested for redrying much tobacco, and made large profits; that such acts were approved by the directors; that certain of the directors and officers bought ware house properties at exhorbitant prices; that salaries were paid in excess of the value of the services rendered, and sometimes for un necessary services, in disregard of the rights of the members. As a result of the actions of the board of directors, the order declares, the Association is being liquidated by a joint committee of three directors and two represen tatives of large creditors. The Association “has failed of its purpose, and such purpose has been rendered impossible,” due to the fact that the management has lost the confidence of the mem bership, it is asserted. As a fur ther result of the way the affairs of the Association have been hand led, the members have sustained heavy losses, and the Association s assets have fallen far below an amount sufficient to pay a fair market value for the tobacco de livered by the members. Large Rond Required. The court did not fix the amount of compensation to be received by the receivers, Judge Meekins stat ing that he would have to consider that further. The receivers were directed to give bond of $250,000 M. L. Corey makes it his bus iness to act as financial and bus iness adviser to Co-operative mar keting associations, and was re cently appointed to that capacity by the directors of the organiza tion, at the suggestion of the Baltimore Credit Bank, the As sociation’s largest creditor. The other two receivers are widely known. Mr. Pou is credited with being one of the outstanding lawyers in North Carolina, and Mr. Ward, who formerly represented the first North Carolina district in Con gress, is a prominent eastern North Carolina lawyer and bus iness man.—Associated Press. IMOVE OFFICES The remodeling of the T. C. Jordan’s building, formerly known as the Jones-Cotter building on Market street, for the use of the Hudson-Belk company has made it necessary for those ocupying of fices on the second floor of this building to move to new quarters. * Mr. J. A. Narron has moved to the Davis building over the Jordan Jewelry company. Mr. Charles II Grady has moved his office