FATE OF BANK TO BE
DECIDED TODAY AT
COURT HOUSE meet;
Revised Plan of Agreement To
Be Presented To the
DEPOSITORS COMMITTEE I
MET WEDNESDAY P. M.
p*iundrcds Expected to Attend
Gathering ? Success Pre? I
dieted for Movement
Meeting at the court house this
Thursday afternoon at i o'clock,
stockholders in the closed Brevard
tiankifig company will make effort to
arrive at some agreement whereby
ti! institution can be re-organized, '?]
re-opened and business resumed. All i
interested citizens have been invited |
by the stockholders committee to at- i
I ml the meeting, and belief is gen- i
e: ; that some plan will be adopted i
at this ! athering for relief of the j
situation which has existed here since j
December V.6, when the bank closed its ,
It is believed that a large number !]
of men and women from all sections |
of the County will attend the meeting. .
I'vae! ically all citizens of the county (
are directly interested in the matter, ;
either as stockholders, depositors Ot ]
Plans under consideration >' ??? 'j
organising and re-opening the old t
bank call for the stockholders placing |
at least :r>.0U0 tit cash in the re- |
organized institution, while the <le- \
II.,.- nors wil Iset aside 30 per cent of k
their deposits to be used in the cap
it ii and surplus fund, the remaining f
70 per cent being "frozen" for a given t
period of time. As notes held by the ,
bank are collected, depositors are to \
receive ten per cent of their deposits t
as rapidly as collection of notes will i
warrant payment of the ten per eentjt
blocks on deposits. Under this pljin, ?(
the depositors are to receive their 70 t
per cent within from three to live 1 f
y? is, and the remaining 30 per cent j
a ; ? i ; i ; thereafter as possible. Inter- ; f
est is to be paid quarterly on these p
deposits while remaining in the bank. s
The only alternative to this plan of I
re-organizing and re-opening the old n
bank is the organization and opera- s
tion of a new bank, leaving the old v
institution to be liquidated. Under o
this plan there is no way on earth of s
estimating how much, or how little, t'
the depositors will receive. It all do* a
pends upon the ability of those who n
owe the bank to meet their obliga* v
tions. Until conditions improve these t
pay iih in ( n notes will be slow in the I
same degree. a
It is easily seen that a majority of o
int> >e >1 p.Miple favor the plan of a
re-organization and re -opening the f
old bank, convinced that through this e
method the depositors will receive , a
more moitty than through any other , v
plan. Hut this is one instance where f
a majority does not suffice. It takes o
unanimous action to re-open the old n
bik ???'< i it - win so many neople' b
are urging calm deliberation of the v
<1 ,i ? :i. earnest consideration of 1
,.\ m ohiise of the question, discus
sion without heat of argument, and ?
sincere action, based upon full kttowl- s
, !???.??? itidlng of the fact
that the whole future of this commun- i
ity depends entirely upon the decis- c
ion made at Thunday's meeting. *
I, a to Wedimndny n.'teiilnt.n the Dp- P
poc . , / Committee h?ld a meeting,
prer; >1 a orm of an -Agreement to <
present to the Stockholders' meeting '
on Thursday afternoon, and addressed ?'
a letter to the stockholders, as fol- x
Brevard, March 28, 1031.
Stockholder's Committee of i
Brevard Banking Co.
Brevard, N. C.
Please .find attached hereto a prop
osition for re-opening the Brevard,
Banking Company on or before May
25. 1931. :i
tFhe Depositors Committee after <
" cons interruptions and disagree
nts and irreconcilable objections j
in' i !>? -i <J by various parties and in
terests have at least reached an agree
ment whereby we are instructed to
submit to you for your advices, and
immediate action upon the herewith 1
, proposed plans.
. v.. i me ooi'iisilly invited to consider (
' ..Continued oil back pnyv) :
BIG SNOW WINTER'S
LAST GIFT TO TOWN
Old Man Winter swooped down up*
on this section last Saturday, and in
furious manner said good-bye until
next November. There was wind,
rain, and then snow ? a great, heavy |
snow that weighted down and snapped
teknhoni wires and power wires in j
many sections of the network Cover- !
ing town rn<l county. Forces of men
worked Sunday, Sunday ni?ht and,
Monday in restoring service, and but .
little inconvenience was suffered be
cause of the rapidity with which re- j
pairs were made.
? The fury of the storm broko as ?
suddenly as it came upon the scone, j
All week has bden fine, and nil evi
dences of the sfcorm are gone, except
on the peaks of some of the high
mountains where snow can still bo
FRANK L STEVENS
OF BREVARD BANK
Owner of Franhlin Hotel Pre
sents VieWs in Vexing
HEAVY DEPOSITOR AND
LARGE TAX PAYER HERE
Expresses Belief That Deposi
tors Will Get More Money
In This Way
Mr. Frank L. Stevens, owner of
thr Franklin Hotel and one of the
larger tax payers of the county, ex
presses hope that plan may be made
whereby the Brevard Banking com
pany can be re-organized, and re
setted. Mr. Stevens, said to be a
llOavy depositor in the bank, express
ss opinion that much more can be
realized through re-opening the old
i>ank than in any other way.
Following is copy of n letter wi'lt
:eh by Mr. Stevens to a friend in Bre
vard, permission to publish having
jeen obtained through a wire sent to
"I was much interested to read in
;ho current issue of The Brevard
Slews, that a meeting of the stoek
ioldei'8 of the Brevard Banking Co.
md been called to take place on
Uareh 2t)th next, to discuss plans ?
for the reopening of the bank. The
act. that the State Banking Depart
ment was willing to submit a plan,
vhieh would enable the bank to re
unite business should encourage every
tuck-holder and depositor to join
'orces and do everything possible to
'each an agreement. V Banks in any
ommunity are like the blood in our
oins. As long as a bank is open
here is continued circulation of
noiiey. close it and you slop every
Ititig. There is nothing, that more
hnroughly paralyzes a community
han a bank, that has ceased to
unction. The closing of the Brevard
iatik has already, perhaps un
ivoidably, cost your county consider- i
bio money. From a stock-holder's , .
tandpoint, if the hank is forced into t
iquidtttian each stock-holder will bo "
issessed the amount of his or her *
tock holdings, the money from which j
fill be more than spent in the cost ,
f liquidation. From the depositor's
tandpuint, if liquidation is forced,
lOteS due the bank must be collected |
nd their security thrown 011 the :
larkot for what it will bring, which 1
.-ill only be a small percentage of \
he amount represented by the notes. !
rohi the tandpoint of those, who |
re indebted to the bunk, the result ic
f enforced liquidation will be to have ;c
II their resources put on the market \
or what they will bring in many I'
ases completely ruining them. From
ny viewpoint enforced liquidation 1
rill be disastrous for stockholder.de- I
insitor, and debtor alike. The cost 1
f liquidation will consume the entire s
ssets of the bank. Your money will )
e spent in salaries and lawyers fees c
ilthotit helping depositors or stock- \
lolders In any way. From a sellish t
tandpoint there is nothing to gain
tul much to lose. T1 a is no tittle for v
elfish motives, personal animosities
11 1 pri indices tn interfere with what 1
s so obviously for the general welfare j
if the community. Every day that ! j
'oil delay reopening the bank is cost- (
111: money, that will do nobody any j
(00(1. 1 hope your stocK-|iolders next ! ?,
Phursday may see the Imperative no- ,
e itv for quick and concerted agree
nent. that the bank may be reopened j ?
md may become in the near future j
vhttt it has been for ninny fears past, j ^
he best bank in any town its size in ^
he whole country.
FRANK L. STEVENS.;,
^ewivan, Ga., March 19. | j
'.AUIRS' NIGHT AT KIWANIS 1
CLUH TlltS THURSDAY NIGHT 1
Kiwanians will entertain at the i
neetlng this Thursday evening; with N
leiebnstion of "Ladies Night." Wives I j
>t' the no tubers of the club will be |j
quests, the meeting to be held at the j
i-lngland Home, with Mrs. W. It. .
Harris. An unusually fine programl]
has been arranged, and it is expected!,
that a most interesting meeting will i i
be hold. !(
SUPERIOR COURT TO 1
START HERE MONDAY
Superior Court convenes here next
Monday morning, with the criminal
docket to be first on the program,
after which a large civil docket will
keep the court and lawyers busy for
some time. Judge Hoyle Sink will
preside, and Solicitor J.Will Pless Jr.
will be here to represent the State
during the trial of criminal cases.
One murder case is on the criminal
docket for trial, being that of the
state against. Mark Gentry, charged
with the murder of Claude Mason.
Gentry has been out on bond Mines
the preliminary hearing, and will, it
is believed, plead self defense.
Many case of less Importance are
on the docket.
Much interest centers about the
work which the grand jury will do
next ?>. . v. i v' ii!/, 1 ?. ?"
imany quarters that startling develop
jments will come fro?i the action ?f
I that body.
THURSDAY'S MEETING TO HAVE AN EVERLASTING
INFLUENCE ON LI^E OF COMMUNITY .
This Thursday aftcrnooh a meeting is to be held in
the County Court House whibh will, in a very large meas
ure, determine the future of this community.
It is a meeting of greater importance, perhaps, than
any other gathering ever held in Transylvania county.
It is a meeting that will; have direct bearing upon
the life of every man, womajn and child in Transylvania
It is a meeting that will, determine, once and for all
time, whether or not it is possible to re-open and re
organize the Brevard Bank.
It is a meeting called by and for the stockholders in
the Brevard Banking company, to which all Interested
, people are invited.
It is a meeting at which the spirit of Jesus Christ
should be the dominant influence, and the Goldtn Rule
should be accepted as its Constitution and By-Laws.
It is a meeting in which there is no room for selfish
deeds, acts or words; nor should there be any semblance
of petty jealousies, personal Quarrels or political clique
It is a meeting that should challenge the very best
there is in all of us, and bring to the surface every particle 1
of patriotism and community love that we possess.
It is a meeting in which men should appear with '
heads bared and bowed in an attitude of humility and
reverence, for those attending will, indeed, be standing in
a Great Presence.
In this meeting the interests of all mankind in this 1
community will be at stake, and wherever humanity is J
concerned, there also is the Grjjat Presence. ,
A bank, as such, is not a sacred institution. But a 1
bank that has been closed, locking therein all the savings
of a lifetime of many men and women ? savings which
were slowly piled up through hard work and constant
sacrifice in order to have something for old age ? presents
a task that is sacred to those who have the ability to re
open such closed bank.
No higher duty was ever placed upon the men and j
.women of a community than that of attending the meet- j
ing this Thursday, and lending influence and aid to the !'
task of relieving the situation existing here.
1 We have utmost confidence in the ability, integrity, i
patriotism and purity of motive in the citizens of this com- i
munity, hence we confidently expect to see action taken j
at the meeting this Thursday which will unite all forces j
in the one high and holy purpose of restoring community ii
prosperity and re-establishment of community confidence, h
SUGGEST DR HARDiN ;
FOR MAYOR OF TOWN!
humored That An Outstanding
Woman May Enter
L)r. Carl Hardin, popular dentist
if Brevard, lias been suggested as a
nndidute for the office of mayor,
vitli the following as running mates
or places on tlje board of aldermen ; j
William Wallace, Willis Brlttain.
'at Kimzey, Clyde Ashworth and S.I
it. Mac lie. In this line-up is inelud
d one name that has already bo n
uggested for the office of mayor, Mr.
iViillnce, while two present members
if the board, Messrs Atactic and Ash
vorth, are named in this suggested
icket to succeed themselves
Friends of Ralph 11. Ramsey,
vhose candidacy has been urged foi
i long time, have announced that Mr.
iamaey has agreed to maku the race
f it is their desire that he do so. It
s definitely staled that he will be in
Many friends of Mayor T. W.
Vhltmire are urging him to become
t candidate in this contest, but no un
louncenient has as yet been made by
Ur. Whitmire. It is believed, how
iver, that Mayor Whltmiro's nanr
vlll be on the ballot in the primary
A group of citizens are said to be
miking effort to obtain consent from
I. S. Bromfield to present his name
'or mayor, expressing in the state
nent that Mr. Bromfield's business
md executive ability would be of
jreat value to the town in this criti
Rumors hifve been going the rounds
:hat the name of a woman would be
iled for the office of mayor when the
ists open for formal notification. The
ady in question is one of the most
ictive leaders in the women's groups.
In event this presentation is made,
jnd the lady becomes a candidate for
l he office, unusual situations and
alignments will be in order.
Registrars will be named next week
:ind a formal coll made for holding
Lhe primary, which is to be held in
the last days of April.
GROWN IN COUNTY
(J. <4. Glazcner, Agri. fmt rnctor )
The fact that many farmers in dif
ferent sections of the county are
planning !.o grow from one to ten
acres of Korean Lespcdeisa Is a very
fine indication that this county will
soon be producing all the hay needed
in a Live-At-IIome program. Fol
lowing are already making plans tc
grow some this year:
C. F. ? Woodfin, Ralph Woodfin.
Houston Glimmer, (Had Whitmire
Judson Mcece, Charles Pickelsimet
and T. G. Miller. Mr. Woodfin hat
already purchased 22G pounds of cur
titled seed. He is planning on sow
ing tut or mine ue ? ??
An article on producing Km n?
Tipspedcita will be published in Th<
Btevard News next week.
MRS. SHIPMAN SAFE
'IN WYOMING TOWN
Sheriff Patton Locates Brevard ]
Woman Who Was Miss- j
itig for 21 Days
Relatives and l'riends of Mis.'l<
Norma Shipman were made happy I
last Saturday, when Sheriff Patton j
received/ word that she was safe in , i
New Castle, Wyoming. Mrs. Ship- I
man had not been seen by any one ,i
here since March first, and fear wu. <
felt for her safety. Intensive search j I
was instituted by the sheriff's office, j'
at the request of Mrs. Shipman's rel- 1
atives who were growing more flan
tic as day succeeded day and no word '
;Was forthcoming from the missing I
| The newspapers, through The As
sociated Press,, carried news ai'tich
about the missing woman into evury 1
'section of the United States. Many 1
radio stations put the story on the
air, and this publicity was most help-!
'ful to Sheriff Patton in locating Mrs.
1 Shipman and the two young men wh> I
had left here shortly after Mrs. Ship- :
man's disappearance. Because of tlw 1
peculiar and secretive manner of her ''I
going, being followed within one
week by the two young men, it wu .
feared that Mrs. Shipman had been !<
murdered, or was being held a oris- J
(oner in some secluded place. War- 1
rants charging the young man, Joel
Bradley and Happy Brown, with ub- j
ductlon had been sworn out, but these
have been withdrawn since word has ;
ben received from Mrs. Shipman, She |
and the two young men are said to be I
i visiting Brown's sisters in the Wy- 1
In the reaction of the relief felt |
hero since it is found that Mrs. Ship- 1
man is safe und sound, there uro
: some citizens who have expressed the '
opinion thut all of the publicity about
her disappearance was simply a ease
of much ado about nothing. Relatives
meet this statement by saying that
lone should take the matter home to
himself what he would do if his sit
ter should be missing, under peculiai
and suspicious circumstances, and
day should follow day with no word
Relatives and friends have express- 1
ed keenest appreciation for the ser- 1
vices rendered by Sheriff T. E. Pat- 1
ton, Jr., Deputy Sheriff T. S. Wood, j
I'he Associated Press and all the
newspapers and radio stations which 1
assisted in the search for and location
of Mrs. Shipman.
[ REV. PAUL HARTSELL AT
MILLS ItlVER HIGH SCHOOL j
Rev. Paul Hartsell, pastor of Bre
ivard Raptlst church, preached the
'baccalaureate sermon to the gradua
tion class of Mills River High School
on Sunday afternoon. Rev. Mr. Ilart
1 sell used as his theme "Service" in ad
monishing the seventeen members of
the graduation class to go forth into
the world with the aim to serve.
Quite n large number of patrons and
the ; chool wore nr?nnat f,v
ijthe service, and many complimentary
? irpmnrks were heard concerning the
[timely sermon of Mr. Hartsell.
TO SALES TAX IN ANY
Cannot Justify Removing Bur
den from Property to Place
It Upon Factory Workers
SUGGESTS RIGID ECONOMY
IN OPERATION OF SCHOOL
Suggests Raising Revenue for
Schools In Way Other Than
the Sales Tax Plan
Hrevard Newt t Bureau
Raleigh, March J5
Governor 0. Max .Gardner, in a
radio addresB here Tuesday afternoon, 1
expressed opposition to the proposed
sak'B tax bills, and in emphatic Ian- '
guage declared that the state of
North Carolina should not resorl to ,
taxing the poorest puople in the :
State in order to carry on the school
work. The governor's address was
plain and to the point, excerpts from
the speech being presented herewith : '
High Light* hi Governor's
"I did not discourage the passage
Df (he MacLcan bill because I enter-'
tallied as much anxiety as any mem- j
bet nf this General Assembly to light
en the burden of property taxatioil in
the state. And if thfc General As-'
?pi bly could, within the realm of
i-< onable taxation, find the revenue
to sustain the Mac Lean bill, I was
ready to give my full support to
"I do not see how we could justify
h tax reduction on the factory by im- ;
t ng tax on the purchases of it1-' i,
ah r. That is the distinctive char- ,
icteri'tic of sales taxation. It assur
edly - tb no average relief for the ;
ivert. ? property owner. It relieves I
.hese whose ownership of property is I
well above the average and gathers'
from those who are below the aver- 1
igc or who own no property at all. 1
im unalterably opposed to that prin
:iple of taxation, and to any logis- '
lative progiam that finds it necessary '
.o sustain it ''
"This position of opposition to the
=ales tax 1 take as a definite fiscal ,
ind economic policy, and as a mattei ! !
jf principle. In taking it, I have no j
Irsire to invade the responsibility ol |,
;]it> legislative brunch ol' government 1 ]
iy atti ypting to^set up your revenue |;
measure in detail, except that I do j
,vish that no poiicy and no line of j ,
iction be adopted which is inherently j]
jnfair oil the one hand to the con- '
turning public, or on the other to nnj
egitimate and helpful business or in- 1
lustry that is making its contribu- '
:ion to the welfare of our stute ' j:
"I recommend that you enact
much of additional taxation as ynti j
lind to be reasonable outsire of the ' (
sales tax field, and that, after taking
Mire of the necessities of v the state I'
government RUch additional sums be:,
used for 'direct reduction of the nub- j
lie school tax levy " I
"It should be remembered that the j<
1 Continued on bock pige)
PISGAH MILL OPENS '
FOR WORK MONDAY
Superintendent II. E. Erwin an
nounces that nil is in readiness for'i
Actual operation of the Piggah Mill .
beginning next Monday morning:. .
Much repair Work has been done, and
the mills have been cleaned in thor
ough manner. By the end of ner.t
week it is hoped to have a full foivi 1
of operatives at work. First group- :
will begin work Monday morning, j
other departments being started up ix.
the work makes progress.
While many people have been cm-'
ployed at the mills during the past
three weeks in cleaning up and if. ,
making repairs, the real work begins 1
JOE CLAYTON TO
BE WITH SPARTANS
Joe Clayton, Brevard's basejbali '
idol, will play with Spartanburg this
season, he having been farmed out by i
the Southern League which is not |
playing this year to the South Car- :
Friends and sport followers in Bre
vard of the local inlielder, while re
gretting the fact that Joe will have
to start in one of the minors this I
season, are confident that he will "go .
up" before the summer is over. Joe j
made a good record last year in the ?
Southern League, whore he rated high !
in his double and triple plays and ;
batted along with the 300's.
MARSHALL MASONS COMING I
TO BREVARD THIS FRIDAY
Many Masons arc coming to Bre- j
vard Friday evening for the purporo
of exemplifying the Master's Degree
at Dunn s Rock Lodge. All members
I of Dunn's Hock Lodge are urged to
[attend the meeting and meet the Mar
shall Masons. It i^ said that Marshall
' hns ei excellent degree tea'.",
;anu uie work none here will be gnat
I ly appreciated ?by Dunn's Keel; mem
SALES TAX WOULD
TAKE FROM COUNTY
If Adopted, Would Cost Each
Person $3 Each Year, It
BUT COUNTY^VOULD GET
$60,321 FOR THE SCHOOLS
Larger Counties Would Receive
More from State Than
They Would Put In
lirevurd t\ewn Bureau
Ualcigh, March J 5
About 15 of the larger North Car
olina enmities would get more money
out of the state for operation of the
six months school term under the so
called Mac Lean plan than they would
pay into the treasury under the gen
eral sales, tax plan which accompan
ies it, while the remaining 86 coun
ties would pay more under the sales
tax plan than they get back if tht
state takes over and operates the si*
months terms, school people estimate
Under the MacLean nlan. all of ihi
counties participate in the state fund
hut most of them pay back more, in
directly, under the sales tax. some
twice a much, as the difference I*
tween the amount the MacLean
gives them and the amount th - t'"- .1
ger plan gives them. The lutt< r plan,
embodied in a hill Introduced by Sen
:i toi- John II. Folger, chairman, and
members of the Senate Eitiirai n.:i
Commiteo, provides a olO.OOtyWO
school fund, $8,200,000 for tin six
months term and $1,800,000 for ih*
extended term. Under thi< plan, four
nf the larger counties, Durham, For
?yth, Mecklenburg, New Hanover, dc
not participate in the equalizing
The MacLean plan contemplate" n
general sales tax which is estimates
to produce $9, 000, 000 in revenue.
With slightly more than t, 000, 00#
population in the state, that mean*
an average if about S3 per person
per year in the sales tax, collected in
directly. With a population of 133,
310 at S3 each, Guilford would pa;
$399,030 of this tax and rcceivt
5070,693 from the state; on the same
basis. Mecklenburg wjiuld pay $383,
[113 in the tax and receive ?595, "Hi
for her schools; Forsyth would pay
5335,043 and get back $531,1 IT; Dur
ham would pay $201,588 and get
?333,210; New Hanover would pay
? 129,030 and get $ 197,036.
Transylvania county . under tho
Folger plan, would get $42,440 of the
equalizing fund and $60,321. or
^ 1 7,88 1 more, under the MacLean
plan. But Transylvania with a popu
lation of 9,589, paying $3 eat h would
pay $28,767 into the state fund, or
$10,886 more than the difference be
tween the amounts received und" the
MacLeon plan and the Folger plan.
While the larger counties would
gain, Transylvania would lose under
the MacLean plan, as compared witj>
what she would get under the Folj;.;
TO B. Y. P. U. MEET
Preparations arc being made foi
entertainment of the B. V P. I'
regional convention to bo held ir
Brevard Friday and Saturday. Apr
17 and lStli. Sessions of the eonvir
lion will be heln at the Brevard H;i
list church, and delegates will lie eti
tcrtained in the home of the people oC
Other churches are planning to as
sist the Baptists in entertainment of
truest*. Missionaries, leaders of note
and state officials in the Baptist
young people's organization will be
present. A large number of people
will be in Brevard for the two-day*
SENIOR PLAY TO BE
GIVEN THIS FRIDAY
"The Arrival of Kitty,'* a cojuedy
farce, will be presented next Friday
evening, March 27, in the lliifk
School auditorium by ttu; Senior
class. The presentation is an annual
event and is always looked forward. t?
as an interesting feature of the class
activities. The program will begin
at 8 o'clock.
Bobbie Baxter pursuing hit little
love affair with Jane apainst the op
position of William Winkler, has oc-'
casion to disguise himself as h wo
man, and is mistaken for Kitty, an
actress and Close friend of WinMerV
to the vast confusion of everybody
and everything, which is intensified
by the arrival of Kitty.
The cast of character^ which fol
lows is said to be well chosen, eaek
filling with unusual ability his part.
William Winkler Paul Black
Aunt Jane Rebecca Summey
Jane Mollie Snelsoa
Bobbie Baxter Glen Miller
[Benjamin Moore Hinton McLeod, Jr.
Ting Paul Sch"xhner
Sam Jack Miller
Kitty Dorothy Souther
^uzotte Jean EnRlish