Employment of Aged
Pensioners To Stop
Checks Temporarily
Pensioners Gainfully Employ
ed To Notify Social Se
curity Board Office
* ?
Increased .employment, resulting
from the national defense program,
means jobs for many older men who
have been without work for a long
time. Some of these older workers,
who retired from their regular jobs
after reaching age 65 and claimed
payment of monthly old-age insur
ance benefits, are going back to
work for business concerns or in
dustrial plants. Most of these men
understand that no one has a right
to monthly payments of old-age or
survivors insurance benefits while,
at the same time, he is earning good
wages in a job that comes under the
act. They know also that they should
advise the Social Security Board
when they have found work so that
payments of benefits may be discon
tinued while they are so employed.
However, a small number of such
workers have failed to notify the So
cial Security Board that they have
found jobs, although they have re
turned to work in factories, shops,
stores, construction work or other
covered employment. This statement
was made today by G. R Parker, re
gional director of the Social Secur
?lty Board, Who tmld also That -each
claimant has had an opportunity to
learn that he must report such re
employment. This information is
given to him in connection with his
(1) application for benefits, (2) in
the award letter, (3) in succeeding
letters, and (4) in verbal explana
tions by the Social Security Board
field office.
When government authorities
learn that a worker has received or
is receiving wages of $15 a month or
more and has also cashed his old
age and survivors insurance check,
it becomes necessary to assess a pen
alty. The minimum penalty consists
of loss to the recipient of the amount
of the benefit which he received for
the month or months in which he
earned good wages. The penalty may
be double that amount if the claim
ant, knowingly, failed to report.
Mr. Parker explained that, in this
case, "wages" means earnings of $15
or more in a job that is covered by
the Social Security Act If total
earnings of wages is less than $15
per month no report is necessary and
there is no loss of monthly benefits.
A beneficiary might earn as much as
$14 99 per month, on any sort of
job, and still receive his monthly
payments of old-age and survivors
insurance. But, if his wages in cov
ered employment amount to $15 or
more, in any one month, his old-age
insurance payment for that particu
larjnunth will not b& allowed. The
retired worker, taking a job is re
quired to notify the Social Security
Board, only when the job is one of
those covered by the law and the
wages earned equal or exceed $15
in any month. He may work in
other types of employment?such as
farming, domestic service, public
school teaching, government service
?or he may have a business of his
own, and continue to receive his
monthly payments.
The regional director called atten
lion to the fact that the Stune legu
lation applies to the widows or to
sons and daughters surviving deceas
ed workers who were insured under
the system. For example, an insured
worker's widow who is receiving
monthly payments of survivors in
surance might take a job in a shop,
store, hotel Or in other covered em
ployment. If she earned as much as
$15 per month or more she should
notify the Social Security Board at
the end of the first month she works
in this job. Her own benefit pay
ments will be discontinued during
the time that she is so employed.
Under ordinary circumstances the ?
monthly payments will begin again !
as soon as the beneficiary leaves reg
ular-employment. It was pointed out
that a child's benefits will continue
even though the widow's payments
are stopped while she is earning
wages in covered employment. Like
wise, a son or a daughter might fincf
a job and thereby lose his or her ben
efits during the period of employ
ment and still the widow's monthly
benefits would continue, if she were
unemployed.
Any field office of the Social Se- j
curity Board will furnish a post
card form which the beneficiary may
use to notify the board that he or
she has gone back to work There is
available, also, another card which I
the worker may use to apply for re
Farmer ltnilds IIor Self
Feeder For Fifteen Cents
F. C. Turner of Ht. 1, Reuisville,
has built a hog self-feeder for 15
cents, reports Rockingham County
farm agentXF. S. Walker of the State
College Extension Service.
> 1
Plastics
No more plastics will be available
after thus month for the manufac
ture of advertising premiums, mech
anical record players, toys, amateur
cameras, novelties and similar arti
cles.
instatement of benefit payments
when ho ajfain retires Doth cards
are supplied free of charge and. if
requested, the field manager will as
sist in filling nul the form.
SYMPHONY OF WAR
?failed by Censor*
r looks like a xylophone but it's a row of Bren gun barrel* being
gauged in a Toronto munitions plant. Canada which made no weapons
of this kind before the war new possesses a factory that has the lsrgsst
output of any automatic gun plant in the world. Many of the workers in
the plant are women and they have proved themselvee to be adept in this
kind of employment. All the requirements of the Canadian armed forces
are being met by this one factory and large numbers of Bren guns ars
being supplied to Great Britain. For these guns and many other muni
tions required by Great Britain, Canada is finding much of ths money,
During Canada's present fiscsl year, the Dominion expects to finance
British war purchases in Canada to the extent of (1,500,000,000, which if
equal to (23,000,000,000 in terms of American population and
The Canadian taxpayers are providing the cash.
STATEMENT
ROYAL INSURANCE COMPANY, LTD.
Liverpool, England
Condition December 31, 1940, As Shown Bv Statement Filed
-Amount oL-fttottitoiy Dcpo.sit $_ 500,000.00
?ts, Dec
Amount Ledger Assets, Dec. 31st previous year 21,933,211.98 J
Income?From Policyholders $0,051,132.60: Miscellan
eous, $1,160,838.17; Total . 10.211,970 83
Disbursements To PblIcyFu)TJers, $3,472,087.93, MTscel
laneous, $6,812,694.55; Total / 10,084,782 48
K'weu di
Fire Premiums?Written or renewed during year,
$26,235,677 96 In Force ^ 52,423.561.36
All Other Premiums?Written or renewed during year,
$19,282,614 78 In Force 14.204.277.47
ASSETS
Value of Real Estate $ 1,512,432.00
Value of Bonds and Stocks 15:931,956.24
Cash in Company's Office 4,125.00
Deposited in Trust Companies and Banks not on interest 2,402,109.91
Agents' balances, representing business written sub
sequent to October 1, 1940 2,393,579.96
Agents' balances, representing business written prior
to October 1, 1940 115,821.46
Deduct Ceded Reinsurance Balances Payable 591,120 40
Bills receivable, taken for fire risks 17,562 20
Bills receivable, taken for other risks 3 276.32
Interest and Rents due and accrued 69,569 30 ,
All other Assets, as detailed in statement ? 394.843.32 |
Total $22,254,149 31
Less Assets not admitted 090,225.70
Total admitted Assets $21,563,923 61
LIABILITIES
Net amount ol unpaid losses and claims $ 1,147,506.08
Unearned premiums 8,654,180.34
Salaries, Rents, Expenses, Bills, Accounts, Fees,
etc., due or accrued 35.267 92
Estimated amount of Federal. State, county and
municipal taxes due or accrued 492,675.00
Contingent commissions, or other charges due or accrued 68,378.70
Reinsurance and return premiums due other companies 18,683 76
All other liabilities, as detailed in statement 306,783.09
Total amount of all liabilities except Capital $10,721.474 89
Capital actually paid up in cash $ 500,000.00
Surplus over all liabilities 10.342.448.72
Surplus as regards Policyholders 10,842.448 72
Total Liabilities $21,563,923.61
BUSINESS IN NORTH CAROLINA DURING 1940
Fire Risks written, $21,830,326; Premiums received $77,851 00
All Other Risks written. $16,666,677; Premiums received 13.019 00
Losses incurred- Fire, $45,544; Paid 47.891 00
Losses incurred?All other, $6,549; Paid 6 876 00
U. S. Manager: Harold Warner.
U. S. Home Office: 150 William Street. New York, N Y
Attorney for service: Dan C. Bonev. Insurance Commissioner. Raleigh. N.C.
State of North Carolina.
Insurance Department.
Raleigh, April 29. 1941
I. DAN C. BONEY, Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the Royal
Insurance Company. Ltd , of Liverpool. Eng.. tiled with this Department.
showing the condition of said Company, on the 31st day of December. 1940.
Witness my hand and official seal, tin* day and date above written.
(ScqD DAN C BONEY. Insurance Commissioner.
S T A T E M E N T
~ RUBBER MANUFACTURERS MUTUAL INSURANCE COMPANY
Boston, Mass.
Condition December 31, 1940, As Shown By Statement Filed
Amount Ledger Assets. Dec. 31st previous year $1,951.539 07
Income?From Policyholders, $648,087.27; Miscellan
eous. $85,981.79; Total 734,069.06
Disbursements To Policyholders, $60,865 01; Miscellan
onus, $592,073 67; Total 652,938 68
Fire Premiums -Written or renewed during year,
$1,408,216.71. In Force 2,120.712 08
ASSETS
Value of Bonds and Stocks $1,650,774 38
Deposited in Trust Companies and Banks not on interest 333.300.53
Agents' balances, representing business written sub
sequent to October 1, 1940 ^ 42.797 86
Agents' balances, representing business written prior
lo 1 Ichilu l 1, 1 940
Interest and Rents due and. aeeriud
All other Assets, as detailed ill statement
Total c $2,046,884 86
Less Assets not admitted 69.477 21
Total admitted Assets . $1,977,407.65
LIABILITIES
Net amount of unpaid losses and claims $ 25,986.77
Unearned premiums 752,54966
Salaries, Hi nts. Expenses. Bills, Accounts, Fei .
due or accrued 4,678 82
Estimated amount of Federal, State, county and
municipal taxi s due or accrued 6,654 47
All other liabilities, as detailed m statement 9,236.34
Total amount of all liabilities except Capital .$ 799,106 06
Surplus over all liabilities $1,178,301.59
Surplus as regards Policy holders 1,178.301.59
Tut.tl l.ial>ititu\s $1,<)T?,407 65
BUSINESS IN NORTH ( AKOI.1NA HI KINO 1940
Fire Risks written. $6,029,362; Premiums received $32,121.00
Losses incurred Fire. $17,446; Paid 13,796.00
President: Kdw. II Williams Secretary: C Henry Clough
Home Office: 60 Hatterymareh St. Boston, Mass
Attorney for service Dan C. Money, Insurance Commissioner. Raleigh. N.C
State of North Carolina.
Insurance Department
Raleigh, July 22. 1941.
I. DAN C BONEY. Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the Rubber
Manufacturers Mutual Insurance Company ol Boston, Mass, filed with
this Department, showing the condition of said Company, on the 31st
day of December. 1948
Witness my hand and official seal, the day and date above written
(Seal) DAN C. HONEY, Insurance Commissioner.
STAT E 1YI E N T
OHIO CASUALTY INSURANCE COMPANY
Hamilton, Ohio.
Condition December 31, 1940, As Shown lly Statement Filed
Amount of Capital paid up in cash $ 600,000 00
Amount Lodgei Assets, Dee "'A 1st. previous year 8,015,555.18
Income From Policyholders, $7,391.274 63 Miscellaiieous
$273.246 93; Total ?7? . 664,52156
Disburstments To Policyholders. $2,432,902 81; Miscellan
eous, $4,568,812.52; Total 7,001,805.33
ASSETS
Value of Real Estate $ 149,333 12
Mortgage Loans on Real Estate 426,133.21
Value of Bonds and Stocks 5,337,314 45
Cash in CompanyV Office 4,173.33
Deposits in Trust Companies and Hanks not on interest 2.410,520 37
Deposits in Trust Companies and Hanks on interest 3,803.17
Premium in course of Collection 1,126,854 84
Interest and Rents due and accrued 25,907 63
All oilier Assets, as detailed in statement ' 408,801.47,
Total $9,892,841.59
Less Assets not admitted 194,949 59
Total admitted Assets $9,697,892.00
LIABILITIES
Unpaid Claims ? " . $2,617,006.54
Expense, Investigation, a rut Adjustment of Claims 20.000DCl
Unearned Premiums 3,396,299 49
Salaries, Rents, Expenses, Hills, Acgnunts, Fees,
etc., due or accrued 12,000.00
Estimated amount of Federal, State, county and
municipal tuxes 346,234 44
Reinsurance 58,276.00
All other Liabilities, as detailed in statement 1,250,074.93
Total amount of all Liabilities except Capital $7,097,892.00
Capital paid up $ 600,000.00
Surplus over all Liabilities 1,400,000.00
Surplus as regards Policyholders 2,000,000.00
Total Liabilities $9,097,892.00
BUSINESS IN NORTH CAROLINA IX KINO 1940
Fidelity; Premiums received $ 87 00
Surety; Premiums received 1,002.00
Burglary and theft 30.00
Total; Premiums received $1,110 00
President: lb.ward Sloneker Secretary: Martin J. Wep
Treasurer: M H. Sloan.
Home Office: 136 North Third Street, Hamilton, Ohio.
Attorney for service: Dan C. Money, Insurance Commissioner, Raleigh, N.C.
State of North Carolina,
Insurance Department
I. DAN C BONEY. Insurance Commissioner, do hereby certify that
the above is a true and correct abstract of the statement of the Ohio
Casualty Insurance Company. <>f Hamilton, Ohio, filed with this Depart
ment. showing the condition ?>f said Company on the 31st day of Dec., 1940.
Witness my hand and official seal, the day and date above written
i Seal > DAN C BONEY, Insurance Commissioner.
Ql'EEN INSIRANCE COMPANY OF AMERICA
New York, N. Y.
Condition December 31. 1940. As Shown By Statement Filed
Amount of Capital paid in cash $ 5,000,000.00
Amount Ledger Assets. Dec. 31st previous year 24,467,824.40
Income- From Policyholders, $7,970,063.22; Miscellaneous,
$876,608 81. Total 8,846,672.03
Disbursements To Policyholders; $3,078,286.31; Miscel
laneous. $5,280.748.23; Total 8,359,034.54
Fire Premiums Written or renewed during year,
$11,274.166 02 In Force 21,712,550.03
All Other Premiums Written or renewed during year,
$7,613,481 46 Inx Force 5.781.150.17
ASSETS
Mortgage Loans on Heal Est at? $ 6,050.00
Value of Bonds and Stocks 22.843,417.66
Deposited in Trust Companies and Batiks not on interest 1.041,199.02
Deposited in Trust Companies and Banks on interest 25,874.49
Agents' balances, representing business written
subsequent to October 1. 1940 1.142,130.83
Agents' balance, representing business written
prior tu October 1,1840 98,872.68
Deduct Ceded Reinsurance Balances Payable 256.769.80
Bills receivable, taken for,fire risks 13,383.60
Bills receivable, taken for other risks 2,034.19
Interest and Rents dtu and accrued 99.948.28
All other Assets, as detailed in statement 128.138 05
Total $25,144,279.00
Less Assets not- admitted 1,380,912.99
Total admitted Assets $23,763,366 01
LIABILITIES
Net amount of unpdid L i s and claims $ 1,023,553.16
Unearned premium 7.620,307.47
Salaries, Ki nts. Expenses. Bills. Accounts, Fees.
due or a-'crued 29,044.75
Estimated amount of h'ederal, State, county ;uui
municipal taxi s due or accrued 957,501.00
Contingent eomiviissions. or other charges due or accrued 58,566.04
All other liabilities, as vh tailed in statement 792,682.90
Total .amount el all liabilities except Capital $ 9 881,655.32
Capital actually paid up in cash $5,000,000.00
Sniping over ;dl liabilities 8,881,710.69
Surplus as regards Policyholders 13,881.710.69
Total Liabilities $23,763,366.01
BUSINESS IN NDRTII ( AKOLINA Dt KINO 1940
File Ri.-ks written $7,974,659; I'lemumis received $38,672.00
All Other Risks w ritten $2,976,812, Premiums received 9.913.00
Losses Incurred Fire, $3,215 Paid 3,976.00
Losses Ineui red All other. $1.244 Paid 1.489.00
President Harold Warner Secretary Sigourney K Nininger
Home Office 150 William Street New York, N Y
Attorney foi sci-viee Dan C Boney, Insurance Commissioner, Raleigh, N C.
State of North Carolina,
Insurance Department
Raleigh, July 31, 1941
1. DAN C BONEY Insurance Commi . loner, do hereby certify that
| the,.above is ;i tftir and correct abstract of the statement of the Queen
InstiTUnee Company of Anier ica. of New York, N Ytiled with this De
I partineiit, .showing the euudiUuu of said Company on the 31st day of
Decciubfr. 1940
Witness iny hand and ofticial. seal, the dav and date above written
I fSeal) DAN C BONEY. It isu i ance Con 11n isskuicr
H I \ I I M I N I
ROYAL INDEMNITY COMPANY
New York, N. Y.
Condition December 31, 1940, As Shown By Statement Filed
Amount of Capital paid up in c.edi . $ 2,500,000.00
Amount Ledger A wt .. Dec previous y,-.tt 35.520,001.09
Ineoipe From Policylioldei $13,589,403 06; Miseellan
* "oils $ 1,294,800 19. Total 14 884.203 25
i Disbursement: To Pidieyliofdei-.. $57215.252 31. Miseel
laneous, $8 024.367 19, Total 13 239 819 50
I \ssl is
Value ut Bonds.and Si.?<? k ? / $3i.t;H9.i 12 39
Deposits 111 Ti list C'nni|>;iiij. ,m,t Hanks nut mi interest 2.105,272 99
1 'it-II i mil is in riiui'.-f ul Collect inn 2.714.513.til
Interest and Hunts dim and aiirued 148,341 47
Hills Kcccivalili 184.00
All othei A ut ,.s i tut in tu.t in statement 055,30t 85
Total $37,312,780.31
lass Asset s nut admitted 1.045,353.67
Total .idiiiitl.d Assets $35,007 132.04
I.IAH1I lilt s
Unpaid Claims $13,Hit,321 00
Kxpense lnVeitligatiun, and Adjustment id Claims 350,801.00
Cnuiiriied Pienilums 0 171 553.09
CnlllinlsMi.il. Itlul.ul ape. Out .. 111 tl ell.u 9. due 5113,367.00
Salaries, Hunts. Fxpi lea st Hills Auumuit 1-,,
, . due ur an 111. <1 :o5 olio Oil
KslnuuU'd aiin.unt ut Federal. Stall 1..1111H and
mum. 11... I taxes t,55,000.00
All other I.i.i1111111. a detailed in statement 3! (184.390.55
I'l.tal anil.nut ul all l.ial.ililie, exee|.t Capital $28,107.432 84
( ..pi I a I paid up $2.5(81.00(1 Oil
Surplus nvei all l i.dnlili. . 5,000,000.00
Sill plus as Hoard. I'utieyl.nldn 7 500,006.00
tel..I I laliihlu , <?, $35,667,432.04
III MM SS IN NOKTII (XltOIINX DIKING 1946
I'triii i ci 'rl 1.05x88 PIT.
Accident $ 253.00 $ 27 00
Health 4000
Auln Inability 3,034 00 li.048.00
Inability ulliei than ante f 2,1199,(81 335 00
Workmen's eumpeiisalii.il 13,516.00 0 381.00
Fidelity 23 00 221.00
Surety 550 00 224.00
Plate Glass 336.00 56 00
Burglary and theft 553 Do 28 00
Steam bniler 1,738.00
Engine and niaelniieiy 861 00 45.00
Auto propel ty damage 1.018.00 4,273.00
Auto collision 107 till
Property damage anil collision ulli< i tlian nolo 311.00
Totals $23,824.00 $8,624.00
President F J O'Neill Secretary J. It Clancy
Heme Office 150 William Slice!. Neu Yelk, N Y
Attorney fur service liau C Honey Insurance Ci.uiiiiii.siunei, Haieigli. N C.
Stale of Nuitli Carolina.
Insurance Department
Haieigli, Feb. 18, 1941.
1 DAN C IfONF.Y. Insuraiiee Cnmmissiriner. do hereby certify that
tlie above .is a true and collect abstract i.l llie slateinent of the Royal Iu
demnity Company, of New York, N Y filed with tins Department, show
ing the condition of aid Company on the 31st day ul December, 1940.
Witness my hand and official si al, llu^day and date aliove written.
(St alt DAN C lit >NFA' Insurance Commissioner.
Turnage Theatre ? Washington, N. C.
Sunday-Monday-Tuesday Aug. 24-25-26
irilh Bob fi o /te and Dorothy Lam our
"Caught In
The Draft"
Wednesday-Thursday August 27-28
"l>r. kihlurt'V WnMin^ l)uy"
l.ew Ayres, Foraine Day, I.ionel Harrymore
Friday-Saturday August 29-20
"Wmm Over Miami"
Dun Anieche, Betty (irable, Robert (umminfs
ALSO SELECTED SHORT SUBJECTS
49th Series Opens Saturday, September 6
A LITTLE
SAVED
EACH WEEK
WILL
EVENTUALLY
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A HOME
The average safe investment today is yielding a very low
rate of interest. Building and Loan shares (depression test
ed) still offer a good yield with safety. We invite yoti to
snhserihe for shares in our new series, which will open 011
Saturday, September 6th.
For Stability Prosperity and Protection
SAVE WITH US
27 YEARS -
OF
SUCCESSFUL
OPERATION
SAVE THE
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Martin County Building & Loan Association