Friday, September 16, 1927
SOUNDNESS AND
SAFETY OF CO-OP
SALE OF COTTON
General Plan of Organiza
tion and Operation of
Cotton Co-ops
Depositing cotton in the Coopera
tive Association is very simitar to de
positing money in a bank, therefore it
is very desirable to know something j
c.i the soundness of the" Cooperative'
Association and its methods of opcr
t'Jon. * ; . I
The governing body of the Associa
tion is its Board of Directors, ten of
whom arc elected annually by its
numbers, and one appointed by the
Governor to represent the public.
Our Board of Directors is composed
of vey able, sound business men and
turners, all of whom are sincerely
interested in (he welfare of their fel-
Itw. farmers. None of them are on the
pay roll. All mehibers of the present
Board have seen several years' service
with the exception of twq, »,
Most of our executive officers and
V. department heads and quite ft number
r.i the employes have been with the
organization since its beginning.
-Each, employe pf the As.sociation ii
pnder bond, ranging from one thou
sand to fifty thousand dollars each.
Every bale of cotton is stored in
W. rehouses licenced and bended under
leth State *nd Federal governments.
There is no possibility of a loss of a
bale of cotton by fire or theft.
Every warehouse receipt is issued
cisd sent direct to the trustee bank in
Rjileigh which hojds these 'in trust
for the lending, banks and the mem
bership. ' , ,
604,469 bales of cotton have been
handled during ouj five year period
an devery bale has been accounted
~~ far
Ov,|r seventy-three million dollars
volume of business has passed
through our hands during the five
year period. All this has been
handled through ft very large number
of banks throughout the country and
and not a single dollar has been lost
throug any bank failure.
$672,075.30 has been accumulated a»>
a reserve fund Ly deducting one per
cent of the sales. reserve""firrt'd
has ben very safely and jealously
guarded.
. Six per cent has been pai J an
. nually to our members on this ro
atrvejfund.
Tl\e first year'r reserve was return
-666
to ■ Prescription for
MALARIA, CHILLS AND FEVER,
DENGUE OR BILIOUS FEVER
It Kills the Germ*
WE TREASURE YOUR CONFIDENCE
- ; "
4 ' } ' ' y § » - ' i • '*
' ' w ? y ears ave now Passed since Stone & Webster, Inc., showed their confidence in our organization and inspired in every
assumed the management of the Virginia Electric & Power Co. - officer and employee of the company a desire to merit these ex-
During this time there has been accomplished a. wonderful pressions of good will. There can be no doubt that this mu- - 1
improvement in all the service rendered by the company and, an tually beneficial good will is the most treasured asset of our
enormous expansion of facilities, making our electric service apmpany.
available to practically all the cities and towns throughout the , o
territory served by us in Virginia and Northeastern Carolina. J . have always felt that there is no surer way of maintain
"V . . mg this public confidence than by inviting the general public to
These accomplishments include the expansion of our terri- become partners with us. We, accordingly, made two offerings
tory by the acquisition of other properties; the construction oL of Preferred Stock—one in September, 1925, and a second in
high-power transmission lines linking up our large steam-power December, 1926, which resulted in large over-subscription to
stations and our various water-power developments; the con- v both issues; and we are very pleased that the results have proven
struction of new power-station units; the lowering of our elec- most beneficial to the company, the public, and our new oart
tnc rates; and the reorganizing of the Employees' Benefit Asso- ners alike.
ciation, under which benefits in time of need are practically » -■» . . \ '
doubled. I , . . " \ We are now pleased to announce that we are again able to
Through these achievements, the company is now in a po- invite you to participate with us in an additional issue of approx
sition to furnish abundant power for any possible future growth, imately $2,000,000 of 6 per cent Cumulative Preferred Stock
and is providing this entire territory with a public service of which we are placing on sale on Monday morning, September
which*all may be proud. • Shares SIOO.OO par value. Price, $97.50 per share, yielding
r» ii •mnfxnnnn « . - . - , ' approximately 6.15 per cent. Delivery of stock to be made in
% Practically $20,000,000 has been expended by the company October, 1927. Orders may be placed at any of the company's '
„ during this period for improvement and expansion. However, offices, through employees, or any banker or broker
it would not have been possible to accomplish this had not the w \
citizens of this section received the new management in such a Because k the popularity and success of our stock sales last ?
fair-minded and cordial manner. year and the year before,\this entire issue has been reserv-
From the start those whom we are privileged to serve . ed for sale to mir employees/bm-customers, and citizens of Tide
"" water Virginia, and NortheasteVn North Carolina. f
Consult Your Banker
• ' ' . - 1 .
.■■...-,• i , . ' , V
CAROLINA DIVISION
Virginia Electric and Power Co.
J. T. CHASE, Manager RAPIDS) N. 0* W. E. WOOD, President
cd last year to our members dollar
foi dollar. The second, thirl and fourth
years' reserves are being returned
now; and the sth and last year's re
serve will be returned not. later than
March 1 of next year.
An annual audit made by some well
kr.own firm of auditors employed by
the Board of Directors is made an
nually and published for the benefit
of our members and for the public
generally.'' , -
Our New Conract and Its Important
Changes
The drawers of our neljr contract
I had in mind rendering the most eco
nomical and eflkient service possible
J to out members with just as little
inconvenience to the members as pos
sible.
It was reoognizeS that the old con
tract with one seasonal pool did not ■
meet the financial condition of all
dussesclftsses of members, therefore,
in addition to the seasonal pool such
us we had had heretofore, the mem
ber is given the right of optional
pcols, daily or monthly, in which pools
he -may select the times when he
wants Jus cotton sold. Under this pool
the member will exercise his own dis
cretion and judgment as to sales. Un-
hr * 8 *
A Special Group of New
AUTUMN HATS
fX- - **ats of felt or soleil that specialize in
I ' ne ' * n * n correct head sizes, in
colors! Note the fashions that date the
W v'i, season's successes—the small-brimmed
m mmam -.-hat, the off-the-face mode, the irregular
hair line, and the simplicity of trimming.
f\\*o Napoleon Blue, Mar on Glace, Tawny Birch,
M. t f€> o Oporto, Green, Navy Blue, or Black
| ' - ' * 1 " «T *
Willie Winkle Shoppe
WILLIAMSTON, N. C.
der the sfftso»>l pool th« cotton will
be sold as heretofore, in the beat
judgment of th j Coard of Directors.
All cotton under the new contract
will be settled for on basis of mid
dling prices. That is, th« man who has
a good grade of cotton or staple will
always receive the' premiums to
which he is entitled regardless of
dote of sale. Low grades will be pen
alized accordingly. «
The third important change is the
feature of the withdrawal clause.
E\ery member has the privilege of
withdrawing after delivering one
year's crop. By this provision in the
contract, it will be seen that the
Association expects to win by merit
Mid to hold he membership intact by
rendering a service and not by de
luding upon the inflexibility of the
, contract.
NOTICE OF SALE
Notice is hereby given that under
and by virtue of a power of sale con
tained in that certain deed of trust
executed by Thomas Lilley, sr., and
Henry Lilley, to the undersigned trus
tee, and bearing date of December 27,
1919, and of record in the public reg
istry of Martin County in book H-2,
THE ENTERPRISE
I at page 428, Mid deed, of' trust being '
t given to secure the payment of a cer- '
tain note of even date and ft nor there- '
1 with, and default having been made in
- the payment of said note, anil the terms '
3 and conditions in Mid deed of trust '
1 not having been complied with, and at
1 the request of the holder ot said note
' the undersigned trustee will, on Wed
nesday, the 28th day of September,
1927, at 12 o'clock m.. at the court
-5 house door of Uartin County, at Wfl
• liamston, N. C„ offer at public sale
' to the highest bidder for cash the fol-
B lowing described real estate, to wit:
Being a certain tract or parcel of
i i -i ,
t ~ •
- Funeral Director
s , and >
Licensed Embalmer
Day and Night Service
r
Excelled Service at
1 Moat Reasonable Price
B. S. COURTNEY
WILLIAMBTON, N. C. '
Day Phone 159 Night Phone 94
•
■ J
land in Jamesville Township, Martin Brown- and on the west by the lands try of Martin County," reference to
County, and bounded as follows: On of the said Thomas Lilley, sr., and which is made.for more complete de
the north by the lands of the late S. Henry Lilley, containing twenty-five scription.
1.. Walace, on. the east by the lands acres/ ny>re or less, and being the land "This the 25th day of August, iSI 27.
of J. F. Holliday; on the south by the known as the Cooper land, deed for] JOHN D."ttLLEY,
lands of W. ;A. Browqjffi and J. L. which is of record in the public regis- [a23 4tw Trustee.
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PAGE THREE