Newspapers / The Daily Advance (Elizabeth … / April 3, 1926, edition 1 / Page 1
Part of The Daily Advance (Elizabeth City, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
CUtCl LATION FRIDAY 3,065 Copies ?9 Ybk wkathkb Shower# today Sunday |ener? ally fair and colder. Moderate to frc*b. shifting to northwest ~ VOL. XVI. FINAL EDITION ELIZABETH CITY, NORTH CAROLINA, SATURDAY EVENING, APRIL 3. l'JJU. SIX PAGES. NO. 79 HORTON SPRINGS' A REAL SURPRISE IN CASE CO-OPS if Judge Meekins I Receivership Inad visable Appoint (?inmi? sion to Pro Ik1 Association MOTION IS DENIED J?dge Meek ins Also Itefus Lw Cram Plea of Plaintiffs f'- For Receivership But * Caw Not Yet Settled sf . JUlelgh, N. C.. April 3. ? A de cision placing the Tri-State To-i . bacco Growers" Co-operative Awo-I elation In bankruptcy wan denied, but eauaea were retained uuill fur- 1 tber orders In an order sinned by ' Federal Judge Isaac M. Meekins | last night. The association was ordered to . refrain from transacting any ex- 1 Inordinary business which would unduly affect the assets or liabili ties of the organisation in thu in terim. I Court was adjourned late yes terday after five days of evidence ' and argument, the court had be fore It not only the bill of com plaint, asking that the association be dissolved and a receiver ap- . pointed, and the defendant's mo tion to dismiss, but a proposal from the plaintiffs that the whole natter b* submitted to a referen dum of the members of the asso ciation. The second real surprise of the feeelvershlp hearing came at the cloalng session yesterday after noon when Attorney J. Lloyd Hoi ton of counsel for the plaintiffs, suggested to Judge Isaac M Meekln. that, if he considered a receivership Inadvisable, that he I appoint a commission of three business men to look into the af talre of the defendant association. The commission, according to his suggestion, would examine the affairs of the sasociation. tuako what recommendations as to fur ?*seq psmaep seniAiioe then submit Its recommendations to a referendum of the 9 7,000 ?rowers and report back t$ the bf&g* 3oirth* ^ ietm of Fed" The suggestion was made dur ing the course of the attorney's closing argument and was consid ered by many in the court room as something skin to an admission that the plaintiffs considered their chances for a receivership as slight. The judge seemed im preseed by the suggestion and de clared his Intention to give It se rious consideration while he had the petition for a receivership, the motion for dismissal and the 1 other motions and petl Involved under considera tion. An early ruling was ex pected, as the judge gave assur soee that he did not expect It to take him "very long." The suggestion for an alterna te action came on the hoels of ' persuasive and convincing at by Attorney Hapiro. argument and the previous ' n of an affidavit from the Intermediate Credit Ilank imond to the effect that the tlon had (t, 000,000 In as er all liabilities and that it. lered ita chances of getting the huge sum It had loaned saaoclatlon much better un- 1 e preaent management than a receivership, were serious Mow* to the plaintiffs' case snd the suggestion of Attorney Horton Was taken as an effort to retrieve , AS much as possible out of * wrecked proceeding. Appointment of such a commis sion, It waa explained, would go far toward re-establishing the as ggoetatlon In the confidence of the. I tobacco growers and. Instead of * parting co-operative marketing. V would give the growers accurate Information as to the exact stand ing of their association, with rec dfcimcndatfonH of men who. in all probability would be experts, ss to "Stir best to continue. If they tfcMght It best to continue at all Appointment of such a com mis aioo, it was explained, would go, far toward re-establishing the as "" ion in the confidence of the o growers and. Instead of g co-operative marketing. give tho growers accurate latlon as to the exact stand Of their association, with rec ndatlDns of men who. in all bllUy would be experts, as how best to continue. If they ;ht It best to continue hi all orney .Hapiro. seemingly, was i by surprise by the proposal of oppoelng counsel snd hsd lit tle lo say on the matter. He wss rgeut In a request thsl s auffl f-nt hond be filed by the plaln to protect the association i sny damages due to Inactlv forced by the Injunction still t forr?. He suggested s $100. bond snd. when the opposing laughed outright, ex tbst, unless new lesaes ? signed within the next , sn entire yesr's rental ef the properties might The judge Intlmsted thst unction order might be In ease It were kept In i obviate soy such excee ds closing argu by many in as s mssterpl*<*? on Page 4) HOLDS <XM?!?S UNDEK THE WING Here Ib Judge Isaac M. Meek Ins of Elizabeth City, upon wlmm th? eyes of the State have been this week as he has presided over the receivers?, ip hearing in the Ra leigh Federal Court against the Tobacco Growers Co-operative As sociation. While denying the mo tion fcr a receivership. Judge Meeklns reserved the right to change his declsiou. Court Hits In-Laws | As Main Cause Of Wrecked Homes "More homes, both white and colored, have been wrecked by the meddling of In-laws than from i any other case," declared Trial Justice P. G. Sawyer, waving piill i osophieal in recorder's court this I morning. In passing on the case of Johnnie Cofield. colored, charged ; with having abandoned his wife. 1 Cofield was put under suspended ! sentence of 60 days on the roads. 1 suspension conditional upon his i taking care of his wife. "Having Been so many Instances I of such meddlesomeness, I can I understand why every now and then somebody slaps over one of his In-laws," Mr. Sawyer contin ued. "In fact. I'd do it myself, f If any of mine interfered In my family affairs." The trial justice then congratu lated Prosecuting Attorney J. H. LeRoy, Jr.. on having turned in to the court in fees a larger amount in March than had been turned In for any month since the prose cuting attorney was placed on sal ary. Mr. LeRoy's fees for March amounted to 1223.75. and under the old arrangement, this sum would have gone into Ills own pocket. As It Is, be received a salary of $150 a month, and the 'balance, $73.75, goes into the County treasury a? "profit." | "This Is an indication of the i efficient manner in which the prosecuting attorney la handling his job," Mr. Sawyer concluded. In his tribute to Mr. URay. , BELIEF BY FEE AM. FARMER CAN GET NOW Washington, April 3 Resum ing his testimony before the Sen lite Agriculture Committee, Wil Ham Hlrth, head of the committee from the corn belt, declared today that the bill to handle surplus | problem by levying a fee on agri cultural products was the beat (that could be obtained at this time by the farmer. AM KMC A l>K< LINKS TO ATTEND .WORLD COURT Washington, April 3. ? A note declining the League of Nations' ( invitation to the World Court Con ference at Geneva will be forward led early next week by Secretary Kellogg. Instead of meeting oth er nations to discuss American reservations the Failed States will continue direct negotiations on the subject with signatories to the court protocol. BIG BAKING COMBINE OROEHED TO DISSOLVE Ilaltlmon. April 3.- Til'* Ward | F004 Products Corporation, Incor porated undar the Maryland laws with an assetuted capitalization of 12,000.000.000, Is ordered to dis solve within 30 days and surren* der Its charter* to the State und* r the consent decree issued by Judge Morris A. taper in Federal District Court today TO HOM> UMCKKKMIf A Joint conference betWoen ru ral ministers with charge* In I'as Miiotank County, and the County Welfare Iloard will be held at the Chamber of Commerce Tuesday morning at 10:30, for a discussion of city and rural problems. It waa arranged at a meeting of the Welfare Hoard Saturday morning, which waa attended by Miss Mary Frances Camp, of Raleigh. State director or the bureau of eouaty welfare ?rjja?lr.atJnni Dawning, of Easter Morn, Annual Debut of Spring, Is Awaited Eagerly Here 1 SfM t inl Program ill Churches and Annual fashion I'a ratle Arc Main features of l)av; Pout-Lenten So cial Season Begins Monday Might Eagerly anticipant. Elizabeth City today is awaiting ihe dawn ing of the giad llesurrectlon Mora. Easier Sunday, blight festival which marks the pbhsIiik of the four winter month*, and the real beginning of spring. regardless of what|thc calendar may hold to the contrary. Is over a uay of rejoic ing. Celebrulltig. as ii dues, the resurrect ion of the Savior. It la a day of reverence, too ?the mont momentous of all anniversaries of the Christian faith. The weather man was cautious ly optimistic concerning Easter Day in North Carolina, predicting generally (air and colder weather, with moderate to fresh winds, shifting to uorthwest. Easter carols in churches decked with a brilliant profusion of flowers tomorrow will add their note of joyousucss to the day. The bright faces of children, their Joy reflected In the smiling happiness of their elders, also will servo as a reminder that a world caught In the modern swirl of commercialism has not forgotten tender senti ment. reverence, and the other non-materialistic tbiugs that make life worth while. For the ladles ? and scarcely less for the men ? Easter Sunday ' inevitably pm>v4des the occasion for a display of glad raiment. Ev en the most hard boiled indlvid ' ualh among us concede# a little to the day. all managing, somehow, to brighten up their attire before faring forth to mingle with their fellow beings at church or else where. The annual Easter parade Is as much an established inatitu Hon. providing the weather per )mlts, aa la the annual spring housecleantng. Spring styles are displayed, and spring flower* In handsome boaqueU and cor 1 sages as beaux cm afford their : bellea. Candy on I>emand Drug stores In Elizabeth City report an unusually heavy sale of Master candles, too. and many were busy filling belated orders today. J Candy and flowers, as tokens of affection, are aa much a part of I Easter as the browned and ateam ing turkey is a part of Thauksgiv i ing Day. The gladness of the Easter hoi . iday In heightened by returning throng* from collet* and unl\?r : sltles in this and half a dozen oth er States. The boys and girls have been arriving In ateadlly In creasing numbers then** laul tem days, to spcud Haste r with their parents, and to enjoy the round of social festivities which follow Im mediately after It. The post-Lenten social season In Elizubeth City will open in ap propriate fashion Monday night , with the Raster Dance of the Co ! tlllion Club, to bu given In the Masonic Hall. The hours for dauo Inn will bo from 9 to 2 o'clock, and uiusic will be furnished by au oul | of town orchestra. In all, about 100 couples are expected to at tend. Anticipating an unusual de mand for tickets, the committee In charge of the dance hau requested that all expecting to uttend pro i cure theirs at once. Snappy lUthing Hulls The nekt important social func tion of the week after Raster will be a cabaret dancc and fashion snow to be given at the Elizabeth j City Country Club Wednesday night, beginning at 8:30 o'clock, to which the entire club member ship has been Invited. Tickets fo-' :tho event have been selling so fnst ? that members of the committee In ? charge are finding It necessary to ! increase tho number of tables. . The fashion ahow will comprise a display of the season's latest in dresses, hats and coat -and an as sortment of the snappiest bathing I suits ever exhibited here. Eliza beth City girls carefully chosen ; for their attractiveness will be | the models, along with possibly ( one or more each from Hertford and Edenton. Local dealers In ? ladlea' wear will furnish tho cos tumes and accessories. The names of the girls who will appear a* model* arc being kej?"? a profound secret. Also, nothing is dlvalged as to otber features of the entertainment, except th.it there will be several distinctly original atunts. and dancing fur those who care for It. Thus, with two social occasions of the first order, and a number of smaller private affairs, the af ter-Easter season In Elizabeth City I will begin under brightest auBpi I ces. Last Hope Chapman Pardon Or Reprieve Hartford. April 3.-*- Judge Jon- ' ninga destroyed Gerald Chapman's , last hope of escaping the gallows I Monday night through a court ac tion today b/ a ruling that the ,'new evldenpfe presented by his at torneys was not worthy of hearlnK , In the formal motion for a new trial. Chapman's only hop* now U the Pardon Hoard or an executive re prieve. Judge Jonnlofts said that i he would sre the Governor this afternoon and "talk the case ov ' or." Murderer* of Nu?l>atim Are Sentenced to Hang ? Chicago, April 3.-~*John Wal ton Winn today was sentenced to I be hanged April 23 and "Grand l ma" Eliza Nusbaum, aged 60, to 1 ko to prison for life for the mur der of the woman's Invalid hus ' band. Albert Nusbaum. last De cember. "Grandma" was enam ored of Winn. At the trial she denied that she had plotted with j him to kill her husband. Driver Naps; Truck Overturns In Ditch Boca une l?o took a littlr nap 01 ; the long, lonely stretch of tin ' George Washington Highway be- ! tweon Deep Creek and Soutl Mills, the driver of the truc> which brings broad and newspa l?era from Norfolk eadh day. failed to reach Elizabeth City Saturday morning. Instead, ho "parked hla truck, half turned over. In a ditch near Culpepper's Locks about three miles above South Mills. He escaped Injury, except for a slight wrench of the lefi knee. The bread and papers won brought to this city by II. L. Mor rls, driver for Mcl'herson Broth era' Dus Line, arriving about 1< o'clock ? several hours behlm schedule, as far an his oxtra lna?' was concerned, but on time foi his passengers. Mr. Morris staled that th? truck had eacaped damage appar ontly. through the fact that. If par tlally overturned where the earth was soft. He left the driver ti procure help and extricate thi truck, and follow later. He's World "Rabbit Kim" ?m* In <ny* ??? ??> ' EASTER PUZZLE PICTURE 4 ? ? * ? < bind Missing Chicks And Bitnni;s I Her" you are, kiddies. A lienp of fun lor -{Caster morning. Hidden in tills picture are tlirer Baster bunnies and two chick*. iMiybt they'n1 the ouch who brought. you your KuhIi'I' t li I h fniorninjr. Anyway, turn the picture around and around until you find them. Then *;et out your crayons and color the picture up | nicely. After It in hnish<-<i jsli'e il to mother us an ICnster jilft. Rule of Road Explained As Maw Safety Measure // It Wore Obtrrvnl (.?cr?//y, Probably- Then- ir ouhl Hr l\a \fiil for S Iti/i ('iifiicrs in Klizabrlli City; Other Vinre/iarilrd bairn A clause which may well hirikn < dismay In Iho hearts of those ' "late birds" who drive automobile* In Elisabeth City. Is embodied in the city ordinances covering tho operaton of motor vehicles. In aubntance, It nets forth thai auto- 1 mobile* must not be parked con tlnousiy on tho street* between the hour* of 2 and 7 o'clock In the morning. This particular ordinance, how ever. ban been rendered ny?re or lean Inoperative by reason of the fact that Elizabeth City'* Mtreot* have been ho badly torn up in ro- , cent months that many automo bile owners are utterly unable to put lluiir -cara in their Kara**** The police, understanding the slt aatlnn. therefore have been len ient In the enforcement of that law. Except in designated parking areas, no motorlnt. la permitted to park hln car for more than five minutes, or wlttiln 15 feet of ? tli? hydrant, or within 18 feet of a atreet corner. Nobody l? allowed ' to park in front of a theater, mo- ' vie house, fire siution or op-, trance to a church except for long enough to take on or dls- i char|(e occupant a of hi* car The Htate law prohibit* the use of a cut-out on any motor driven vehicle, and the fit y goo* one bet ter on that point, making unlaw fill also the use of a siren or; whistle connected with the motor exhauat. State and city regulation* are In harmony on the "rule of the' road." which gives the vehlrb* at the right the light of way at all Intersection*. In Elizabeth City. that I* perhaps the most often vio lated of all traffic law*, the gen eral practice here being for driv en to pay no more attention to moiorlt*'* approaching from the ' right than those coming from the left The "rule of the ro t 1" f*'iHlfw that, when a driver appro.c ilea art ; Intersect Ion he must ?|> If nec i?e*arv. to permit toother coming j on the rlgh'-ltatid *id?? ?o croa* ahead of hitn This i? covered by ? both city and Htate I. v??, and I* enforced rigidly in the -M !??* If thu* enforced Iter*. f?ie-?* are. many who think '.hat I* *>uld make altogether ;rtrie* th ? two *top cor i' ? on Main v 'f *t Fur Our Kln-tnen An erdlnanc- to which small at-, tentlon I* paid r-qnitr* th t in motorist, except by direction of the chl??f of the fire department. . or hi* repreaentat Ive, ma;' ap proach doner than 3"" feet In the Vicinity of any fire at whl'|| the department I* at wi.rk Another, which la better observed. direct* that upon the approach of ffra ap paratus. the motorist ahall amp hla ear on the extreme right of the Street, and remain until the ap-' f r*An?1nn*d on f*?g? 4> Motorists Warned About Parking And Procuring Permits Automobile? owners are kIvcii fair warning thai If lliey leave their carH parked all night in the' downtown business Meet ion from how on. Ihey may an well he pre pared to face tho mush: In re corder's eourt next day. Chief of Pollen Holmes today Issued an ul Umut uiiL on Hie iiubJecL declaring ' that henceforth, members of the nltcht foree would "pull" all who violated thin partirulur elty ordl l nance. The law prohibit* the parking of earn continuously from 2 to 7 . o'clock In the morning. It has not been enforced strictly In re rent months. on account of the ( torn-up condition of the streets; ' and Chief Holmes and hla men de- 1 clare they will observe a degree 1 of leniency In enforcing It In those residential districts In which ? automohile owner* are unable to drive Into their garaged, because 1 of excavation* for newer and wat er mains. Therefore. If nn auto owner In j Huch a residential district Is will- | ing to risk the theft of tire* and ' other accessories. or of hla ear. in tho wee hours of the night, he! Is more or less at liberty to violate thiii particular parking ordinance. Chief Holmes warns aliio that resident* of KMxaheth City caught driving ears without city permits need expert no m^rcy from the polh-e. "Carry your permit with you when you drive the car,"'th? chief advilk*. 'Otherwise, yon're like to get in trouble. Kverybody hai had plenty of time to stand ih?- examination and get hla per ini?. and so excuse* won't have much weight with ih* officers." Tiie operation of a car without the prescribed permit Is a misde meanor. and curries a maximum penally of 30 day* In jail or ISO fine, or both. Chief liolmxs request* also that all person* parking cars place them as closely ns possible to the next In line .and that they be es pecially camfut In parking at the proper angle. A car Improperly parked frequqently prevent* park parked frequently prevent* park mind*. RIOTING IN INDIA Calautta. Inil . April I.. Riot Inn IHwu n Hindu* and Monlrumn broil ? (Kit In CnlMlla again thin inornt&f . Ttl? lltnattnn appoara to ho aorloua Nor* p*raona wor* killed or Injured today thu r? terriav. More Than $100,000 Now Raised In Campaign For This City's New Hotel WORK BEGINS ON CONSTRUCTION OF HOTEL PROJECT Completion New Hotel ui Carolina lliniirl lo In Completed hy July I, 0|? eniu? SruAun TO 1IAVK I (HI l<(M>MS And Ihoroly Modern in Every Detail Will lie New Structure on Which Plan I* to Spend ?110,000 New Hern. April 3 ? For Im mediate construction with comple tion guaranteed In lime for open-' iiiK July 4, contracts have been I awarded by officials of Morchead Bluffs, Inc.. of (his city, for the new hotel on their development ut j Morchead Bluffs near Morehead rny. The main construction contract was lot to the J. E. Hvuman (*on-| ?t ruction Company, of Ilaleigh. for work to begin Monday morn ing with three eiKht-hour shifts working continuously on the pro ject. A f 1.4 7,500 forfeiture bond was required for guaranteed con struction and an additional for feiture bond of 150,000 was given for completion of the hotel by midnight of July 2. IMumhlug contracts were given lo Stallings Brothers, of New Bern; heating contracts to E. L. l?avls and company, of Beaufort; electrical contracts to the Thomp son Electric company, of Ilaleigh; and contracts for three electric el evators and electric dumb waiters ing between Hindus aud Moslems pany, of Danville, Va. The total cost of the building la estimated at $410,000. The hotel will be one of the most handsome aud modern iu North Carolina. According to plans drawn by Benton and Ben ton. architects of Wilson, the struc ture will contain 100 outside rooms and baths, 75 of them overlooking Bogue sound. It will be of the Spanish type of architecture, of cream stucco and rod tiled In serts. with red tiled 'roofs. The William Foor Hotel Operating company, of Durham, will operate U. S. Officer Hangs Self From Transom Havannah. April 3. ? The body of United States Commissioner Hlchard M. I^ester was found hang ing from the transom over his of fice door In the Havannsh Bank and Trust Building hero today. The discovery was made by the Jnnttnr" on ~hls" usual morning rounds. Commissioner Lester was last seen lant night entering tho build ing with a colled rope In his hand. The coroner Immediately upon discovery of Ihe body Marled mi IflvenliKntlon. After com plot Inn the 1 1) vent I lion the eoroner announced tlmt Mr. U'Hler had committed aulcldc. MI'M'IAI. Ml SIC AT THK Kiitwr mkthoihmt i hi iu ii The Pawdon and Iteaurrecllon will he Klven In noun by the choir of Ihe Klrat Methodlat Church, Sunday afternoon at f. o'clock. The public la cordially Invited. Following |H Ihe program: The Harden of Prayer ( Hey-Hhep herd ) -Choir. 'TIs Midnight (Urner <1 Davis i ? H. C. Foreman, J. W. Foreman, W. C Sawyer. H <J. Kramer. Not What I Will (Wlldermere; - H. C. Foreman and choir. ^ It Wsh the Third Hour (Graham) ?Choir Silver Starlight Crowns Thy Tomb ( Judson | ? Mrs. T. I*. Bennett and male quartet. (Arranged for quintet by I rner (I Davis ? There Was No Other Wsy (Holt otl# Male quartet. Offertory, organ. Derceua? In A ( Delbnick ) . Night of Sorrow ( Bequest ) (Wll dcrmerr) Choir. FrAar Not Y" (Heys?rt J. W. Foreman, H. C. Foreman and choir. O Tell I s. When Is He? i Miles i Miss Margaret Foreman and choir. Hall Thou Once Dehplsed Jesus ( Poem by IjouIs Van Each, adapted to Elgar's Salut d' Amour by I'rner O. Davis I Mrs, J. W. Foreman. He Unlet h Forever (I'etrle) Mrs. H. E. Nixon, W. C. Sawyer and choir. TO MKKT MONDAY j The Sarah Crawford Missionary I Society of City Hoad Chwreh, will meet Monday afternoon at 3: SO 'o'clock with Mrs. Brad Sanders.; Group No two will entertain. Ev- j arv !? *ir**d to tirmoni I General Executive Con* iniltce Paoi-en Quota, with Several Mrmbort Slill to Be Heard from LEAD EH S ARE ELATED Initial IletipoiMe Taken an Forenhadowing Early Sue reus in Drive to Meet i <011111111 nitv Need More than $100,000 to ward the cost of erectinit Elizabeth City's proposed thoroughly modern fireproof hotel has been raised already; entirely within the ranks of the general hotel executive committee, it was announced today, the goal set for com mittee subscriptions having been passed by a substantial margin. Encouraged by thin preliminary succeaa, W. G. Gaither. general sales manager In the financial campaign. In making thin first aa ' nouncement of the program of the drive, stated that the sales orgM ' Izatlon wan ready to go out to ; handle the Initial sales prospects j among the general public her*./ I Although the original commU tee goal of 1100.000 haa been paaaed, there are atlll two or three members of the committee to be heard from. It Is stated, and Mr. Gaither and his aaaoclatea antici pate that the present total will be ' increased substantially whan they have taken stock. As his assistants in the general sales campaign. Mr. Galther haa I appointed L. R. Foreman and C. It. I'ugh. These In lurfl , ; named four dlvlalon aalea 1 i ?rs, N. W. Daily. W. B. Ocj i It. S. Toxey and Buxton W Each of theae has chosen or choose three group lei each group leader will sign up ten salosiiM'ii. Theae details of organ ization are being worked out rap Idly. it is announced, and the gen eral ntock selling drive probably will l>egln by the middle of the com Inn woek. The response of the general ho tel committee In oversubaerlblog. Its quota of stock Is taken aa a moat, encouraging indication of the ultimate succeea of the. cam paign. and ban given new Impetua to the organisation aa a whole, committee leaders report. Among the division managera, 1 Huxton White today waa the flrat ! to report having signed up hta [throe group leaders. R. M. Cotter, 'John H. Hall. Jr.. and 8. D. Park ier. "The men In my dlvlalon are going at the proi?osltlon on the baais that nobody can say, 'No'." Mr. White declared. "We all be | Ueve In the hotel, know that Elis abeth City needs It. and the only way we can get It Is for everybody to Jump In and do his part of tie work.' He Is leader of Division "D." W. E. Griffin, leader of Division "B." later announced the appoint ment of J. Henry LeRoy. Jr., ??.?* H. Twlddy and W W. Woodley. Jr., as his group leaders. The oth ers are expected to name tbefra aoon. Investors In the hotel aro re minded by the committee that no bonus or gratuity of any kind will bo paid or given In the sale of stock, and that all will purchase it on exactly the same baaia, and the same terms. The cumulative feature of the preferred stock I means that, In the event of a pos [ slble unprofitable year of open* T the g per unpaid will > neat year. 4 per cent |tlon. whatever part of the rent interest remains : b? carried over to the ? If. for Instance, only i were paid that year, II per j would be due the following year. It Is explained, with refereMVi to the common ntock, which la I sued free of charge on a one share with each two it shares of preferred ntock, that I former may readily become i more valuable than the forred. ????????? If the 0. Henry Hotel In Or boro had been financed on same basin as that used here, 1 common stock would have worth $200 a share after the i year of operation. It Is do However, the fireennbofO ore demanded s guaranteed \ dend of fi por cent on their ferred stock. Issuing no stock. This guarsntee w up by the William Koor lng Company. In taking ' management of the hotel. The O. Henry Hotel coet I 000. After paying the $34,000 In dividends. Mr. < announced In the courae of I : rent vleit here that he made I profit of $78,090 to $100 .00 the first year of operation. The hotel here is to be i a baals whereby the sto i will receive <0 per cent, i operatlog company 40 per i I the net proceeds aftsr all < j have been met. Had the ' ",'?nl||niel on
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 3, 1926, edition 1
1
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75