1933
FOR FAILURE PROOF
BANKING STRUCTURE
n..KnP Threefold CO-
IT- . UAtWAn DttllACi o
ioperauu.. . , .
the Public to Maintain
Bank Standards
-0 clients beside the bankers
i .elves are required in order to
. ':Cr.ation universally the type of
r" . - i- sboulrl have, Francis II. Sis-
'""T Vt,t of the American Dank-
- n'.Xii-n declared in a recent
,r;1"' jie alJ that the efficiency of
" -n officials upon whom the
" ' ' Vy to supervise the banks
1 '"'v and the patronage of the
' melves are factors in the
i ' 'f L'.Vn!; a community shall have.
F-,.",':in W no question that the
V t!t, United States should have
F ' i-n.n:uie from failure and wholly
' ' ' 'had or questionable banking,"
'F FFF F',n'gaid. "It is not enough, as
F, Koosevelt has said, that
1 !, -F F Ftc bankers had been ineompo
F . , ,.r Fl'.niK-st, this was not true in
.'F'.'"..'.-! 'majority of our banks. A sit
'.".." F',., ,1.1 xHt in which there is
tui.e.i 1 .. . , . .,
own a small minority 01 umiiwici
...... 1 1 question, iuci ouuum v
vFonF 'for dishonesty or incompetency
io is. Tdse any influence in banking
anywUt-ro.
V-'-iie bad faith and bad manage
mi.. F outer the human factor in all
,v.F"s of business, their effects in bank
''. -iNiuUl he surrounded by such spe
FF' Fo guards as to render them no
! ,', F, V a Factor in bank failures. The
r FFoi;Fbility for bringing this about,
. F-FoFFt, cannot rest upon the bankers
V,'.,,. -Fr the means to accomplish it
FF',' ,F,t wholly in their hands. There
'.', ,.,.i.,.r essential elements.
i the efficiency of government
,.;p, rvision. Since we rely eo greatly
;,',',,, uiicrvision, it may, unless it is of
!V hi'irh.'.n order in safeguarding the
iFiMic interest, create a sense of. false
FF'Fu'ritv. Supervision should render
tad hFuikir.s; impossible, but it has
failed to do so. There was super
vision by presumably the highest type
of bank supervisors in every one of the
inst;
ops of nuestionable hanking mat
shucked-the' attention of the coun-
daring the past three years. There
fore a thorough strengthening or super-vi-iou
is clearly called for if the people
,AX t,, ivly on it to the fullest extent
for tiie protection of their interests.
The Public's Tart
"Another essential factor ill main
taining good hanks involves the part
piavod by the public in banking. There
is certainly a responsibility on the peo
Hlo themselves, to support that type of
banker whose rigid adherence to sound
principles makes a sound bank, rather
than to give their patronage to the easy
going banker who may be easier to do
business with, but whose methods cre
ate a weak bank.
"Hank customers are charged, with a
great responsibility in protecting the
safety of their banks in respect to their j
utilization of the assets of the banks as-'-j
borrowers. Banks have failed because
many of their. loans and securities, cre
ated . hi good faith by bankers in coop
erating with the business interests of
the country, proved unsound under sub
sequent Conditions. An unsound loan is
created by the borrower as well as the
banker. A bank is only as sound as its
cuimuiinity, and this applies also to the
banking structure as St whole in rela
tion to the economic condition of the
nation as a whole.
"A bank is truly a semi-public insti
tution, but in a reciprocal sense it has
its obligations to the public, but so has
the . public equal obligations to the
bank. Xo one who has not sound bank
ing principles at heart has any business
: in a bank whether as a banker or as
a customer.
"The hanker is a semi-public servant.
He is charged with the heaviest of re
sponsibilities and obligations that occur
in our economic life. But he can meet
these fully only through the coopera
tion of good laws, good puttie officials
who are empowered to. exercise au
thority over his bank, and good busi
ness methods on the part of business
men generally who utilize his bank.
Only through such cooperation by all
elements in our nation's community life
.-.can' we 'be assured of a failure-proof
banking structure.
"The Administration at Washington
has taken hold of this problem with a
firm grasp of essentials and is exercis-,
mst splendid leadership toward the de
sired end. The strongest feature of the
government program will be found in
; recognizing' the-' joint responsibility of
the public, of business and of govern
ment officials together With the bankers
themselves In creating the : kind of
baiiKing the nation should have."
Improved Pasture Pays
IMPROVED pastures are a cheap
source of feed for stock. A farmer
m New Hampshire, cooperating with
li is county agent top-dressed his 5
acres 0f pasture with 500 pounds of
ontplete fertilizer at a cost of $75, re
ports the United States Department
Jt Agriculture. After 1 weeks he turned
ais cows out on this pasture. Tests
nade during the six -weeks the cows
"razed there showed that his herd pro
Juced 7,000 pounds more milk than
-hey did in the same period the pre
ious year, although the farmer had
one cow fewer and fed 800 pounds less
Pram. Eased on current milk prices
t.e made $1S9 on the extra milk and
aved $16 on the grain, netting him
n increase In income of $120. 0. S.
iiartment of Agriculture.
fl RSDAY, JUNE 8,
BREEDERS ASSOCIATION ACT-HORSE RACING BILL
AN ACT CREATING AN AGRI
CULTURAL AND BREEDERS
ASSOCIATION FOR THE COUN
TIES OF NEW HANOVER AND
HAYWOOD ON THE APPROVAL
BY THE VOTERS OF SAID
COUNTIES AND TO PERMIT
HORSE RACING THEREIN.
The General Assembly oi North Car
olina do enact:
Section 1. That there is hereby
created an Agricultural and Breeder!'
Association Commission for the Coun
ties of Now Hanover anil HaywcuC
to consist of three members to be ap
pointed by the Board of Commiaiioa''
ers of said Counties, to have and ex
ercise .he powe,. and authority kti-t-
inafter set forth. The term ot olHc
of said Commissioners shall be for c
period of two i'ears from too. datti
o. their aiipo'ntin.'nl. o,- until their
successors in oilicc shall be appointed;.
PROVIDED., however, that any va
c nicies occurrino,- in said Commis
sion by reason of resignation, death,
inability to ,-erve. or otherwise, then
in such event, such unexpired term ot
oiliee shall lie tilled bv the remaining
members of said Commission.
The Commission herein appointed
shall be known ami designated as the
New Hanover County Agricultural
and Breeders Association Commis
sion and the Haywood County Agri
cultural and Breeders Association
Commission, and shall exercise its
authority and act both generally and
especially by and under the name
Section 2. The Commission to be
appointed shall have full power ana
authority to grant to any association
duly incorporated under tfie laws of
North Carolina, a franchise or priv
ilege for a term of years not less than
five nor more than ten to construct,
own, operate and maintain a race
course or driving: park lor trotting;,
pacing and running races of horses hi
the manner hereafter set out:
Sub-section (a) No franchise or
privilege shall .lie granted by the
Commission or any corporation ex
cept one created especially lor the
purpose of improving and promoting
the breeding of quality horses; and
Sub-section (b) That said corpor
ation have suilicieiit capitalization
linancial resources to satisfy the
Commission.' that it is tinaiieially able
to comply' with nil the ruk
illations, of the Commiss
fully able linancially and
to "liviintain and operate i's
. and reg
tii and is
o;hei'wi'-e
pyi.pert.ies
rules am!
in accordance' with; .-uch
regulations as tire Conimi
prescribe ; and
;itll
shal!
Sub-section (e) That any eorpor-
i,,,v,t;.i,i- sucti .i t'viinchise in the
goes en
The
A 11
are rut
nay net
wmm
top
l- y y Y- M I
driving.
WW!'?!
cisn.
W
,r
THE WAYNESVILLE MOUNTAINEER
event i; shall desire to conduct trot
I ting, pacing or running horses- shall
; conduct such races omy upon days ana
I dates set by. and umly- the rules and
reguiitnms the Jockey club, which
now main-tains ollices and headquar
ters at number .two hundred and tiftj
Par si Avenue, New oik City.
Sun-section tdl That as a prere
quisite to the issuance of a franchise
or p'.iwlego, the said corporation de
siring aiil franchise Ur privilege shall
it th-' tinic of making application
thereof pay to the said Comnii-sion for
;ho Use and bent '''t of New Hanover
and llaywooj ' ountics, respectively,
tile following charge- or Ue:
r it st: 1- or the ir..:w!t:.-o i-r pn
"oge .-ouith: to be granted the milli
oiuni sum of one b.un.;iii .IvH.trs ulld
in ;)u event the aid corporation shall
de-ire ;', fninchif or priolege fol
more than the minimum' perb'j allow
ed by this iu-t. sueii eorpo:at ion shall
nov m addition to the minimum ft'
of one hundred dollars an additional
fee' o,- one hundred dollars tor each
additional year, and iu the event said
franchise or privilege is refused the
fee shall be returned to the appli
cant, otherwise said fee shall be
forthwith paid into tile .treasury of
New Hanove,- or Haywood Counties
respectively ; and,
Second: In the event such fran
chise of priloge is granted said cor
poration, the, said corporation shall
also pay to the Commission for the
use ami benefit of New Hanover or
Haywood County, respectively, for
each day or part of day during which
said corporation conduct- races or
racing, a sum equivalent to ten pe
cent of the cross receipts of the cor
poration derived from all operations
connected. 'with or incident at the op
eration of such races or racing con.
ducted during such elay or part of
day. In no t vent, however, the amount
s .' to be paid, to exceed the sum of
Hvo thousand dollar- per day, and
said amount to be paid in addition to
snrli i:iv as m iv be llo'.V or hcfenflet
fixed- by law.
Sub-section (e) In addition to tiio
.."oing fee all cosfs and expenses,
of tile Agricultural and Piecderu't
Association Comini.-Moii stiall tie
borne by; the corpor..; ion' Holding t
framhise from said Commission and
if more than one corporation shall
ho'.d a. franchise, ' the eo.-ts and ex-jn-iw-s
of said Cominis-i. or shall be
p.ora'ed ani.mg tiie .holding Iran-
i'!ii -es. y
'.Section That win n tile 'miiin--fi.m
shall, have granted a iranchi'
nrivilore as afore-aid to 'any cor.
miration, as aforesaid, tin" aid. cor-
. . ' . ' ' n
""
May 29.( 1933
7;0:,'.EN'3 CONTRIEUTICll TO TllS WOTOR CAR
nhPir very much
Wr i. someFdoubt that people care to hear v.c y
v. - i. w
under the hoods of ieiraaliUC3, arG net accidental; they
driver Knows, that 'dr.v ng thoso results,
Hcv the ;.manuiacxuf
there
interest him
Ke juds-.es
-r.g. ..';' ' , ' .
,eil, it is not . essential
-oothness. Drive the. Ford
-
wi th surpassing smyu e:. .
surpassing buiw-''---'.
methods of its yanufactu
r its yanufacture. gQV at the ;.drive-
. ThereFit Is, 75: horsepower. ' .ou:.,, ,ot
- , , vjith less- weight, to pu-x.
the: driver use. , on r.t-....r remarKabley .
Fever
for the: driver s ue. , v.
car its life-like response- ,
V-3 develops
Tinoncrt
7 -. iA
iavo ad, . Eileago
,e conditio the Fo
rr,r va nave
Cf course, car economy is
too tut it is also economical
operation, maintenance. : .';,.;-. ,
r Xtop
lfeuiefuF but also
:Ccm '
FEotocm-
serous ingredient. her
n-oS;: easeTay,
poration is hereoy fully authorized
i ami empowered to legally construct.
buibl, carry on. maintain am operate
a park, driving ground or race course
m New Hanover and Haywood Coun
ties, and to conduct and to maintain
therein horse races; PROVIDED,
however, that no race or racing shall
be conducted on Sunday and no race
er racing shall begin or commence
before the hour of one P. M. Eastern
Standard Time, and no person under
th,' :i".' of twentv-om- voar-
bo
admitted a a patron within th
ground O! race course unless such per
son is account.. ir.ed by his or lie
narent o,.
guardian
tin
such corpur-
a! ion is hot
t'ul 1 power :
expres-!v e. ranted
aut'noritv to operate
and maintain w ha
encrailv kiu.w e.
l'ai i Mutual Maeliines or Appli
ances" of the kind of emoloyod and
Ti use ..t i-ec.ynitted racing courses in
America: PROVIDED, however, that
said "Pari Mutual Machines and Ap
pliances" shall only be maintained
and operated within the enclosure of
s.id park, driving ground or rare
course while said park, driving
ground or race course is open for
racing, to partiepate in the operation,
or become a patron of said Pari Mu
tual Machines Appliances.
Sub-section (a) Any franchise or
privilege granted by the Commission
to any corporation under the provi
sions of this act shall be ami remain
irrevocable so long as said corpora
tion complies w ith the term and provi
sions of said franchise and complies
with the rules and regulations of said
Commis-ion ; PROVIDED, however,
that no franchise granted to any
corporation by said Agricultural and
Breeder's Association Commission
'shall he transferred or assigned to
any other corporation exc-'.tt by ai d
w it n the written consent of the Com
mission li rst obtained.
Section 1 That 'he Commission
heroin appointed shall have full . pow
er and authority tp adopt such rules
and i emulations a- i: . aay from time
;., time deem necessary to properly
carry out the intentions of this act
and any violations of any of the pro
visions of this act or any violations
of any of the rules Mini rcgulat ions
of the Com mi --don by any t'oiju-'a-tioii
holding a fianchi-e or My ty
of Its ollicers, agents or einploiees
-Hail oo a iiii-demcanor.
Si et ion ... 'f'hat he provision of
Id's act shall become olfeetive in ei'h
er of said ( 'ounties only w'llWi the
; .mi' has been approved 1 1 v a majori
ty of th,. cpialiib I voters in either
of aid Conntie,. and for (lie pui'po, ,
i-o--iieel ive ooarus oi .i'i-'.'iii.---i"o
v. .1 !(.... ........ ,,i
V - . ,hft resUits ho
ertui'-j -j
tit,.
o ...,.,.'. let us talk Rnrtults.
Fu f ind - that yhe engine ,
V - y j . f ;ira precl,
due to its design
..
. :,v. hr remarKable
more power on . , -
to 20 miles a
ri V-8 a o .
x i 7-. a muti -j- -
1. Ford
letG 3CTiZQ-.iil cosx. . . ..
m the
-v.. ibution. The motor car must not
th6 Ford V-3 and. you ,U.l . not
good-looking, vi
St is,a:quality: inade up of . - ; : ;
nocom too.color. g00d
rooess an, convenience.
minim "innir r- -iiirriiiiiiiimrc'T- "
ei m said Counties may, m iheir
discretion, order an election to Lc neia
on. or after January 1. lit r. with
full power and authority to direct and
compel a new registration fe - Mn
election. At said election these lav
oring such proposition shall vote a
ballot on which shall be wrV.ltcir or
printed tb.e words ''Vov Race Course."
in i ilios, niv favoring such nropo-
soi.ir. sliall vote a ballot on which
J shall be written or printed the words
'Against Race t oarse. 1! a ma
ioi-ov ,f ih,. votes cast at said elec
hen .-hall be "For Race . Course " then
iTovisions of this act shall be
in full force and elfect. but if a ma
io'ity of the votes cist be "Against
.' Course." then the provisions ot
this .! shall bo null and void- That
too rcstieetive boards of said Coun
tus are hcrebv autliorittod and em-
1 i, oroviiie. in their Olscre-
tioa for the necessary cost of hold
ing such election by making oeM of
said election a cliarge upon the Gen
eral Fund of either of said Counties.
Section th That this act -hall appiy
only to New Hanover and Haywooel
Counties, and when and if approved
by the voters of said Counties. New
n.n. er and Haywood Counties shall
be exempted from sin'li provisions of
Chapter Thirty-nine and Article Thir
ty-live, Sub -Chapter I welve oi l nap- i
ter Eighty-two. of the 'Consolidated
Statutes of North. Carolina as may
b0 in eoullict therewith.
Section ti'-j. That the provision of
this act shall apply to Polk '. County,
and that the Commission for said
County shall be composed of C. O.
Cooper. President; diaries .1. l.yncn,
and C. t". Feagan, and that an elec
tion sliall be hail according to the
provisions in ..his act for Haywood
County and New Hanover County.
Section 7. That this act shall lie in
I'u'i force and effect from and after
its ratification;
Tn the General Assembly, read three
Tmo,, and rat-hied, thU the loth dav
,.f May. it-t:::!.
Anxious Mother: "How do you know
Mr. Ib'bson C in loe with you? U
he told you so?"
Pretty Daughter: "No o! Foil yea
should see the way ho looks a! no-1
wln n I'm 'not lookintv a. I hinil"
( lipid ill olors, I he I n st ol a
New Series ol I nil Page Paintings d
( hniiiiiig (iirK IU Henry lor
p.itis in lite ilieiuaii 'ekl. In.
Mae iine Dot iilinli'd W Uli t
Simdav-s It 11,1 IMOKE AMI lill W
Bin il D om nil- local nevvsdeal. i ol
new sho .
about what
Eets 'in
than
drivins, but
allon.; .
v.s ta3..th
V- i has
Page 3
Timely Questions
And Answers On
Farm Problems
Cjuestion: nat vecetables do you
recommend fo,. tin- fall garden and
when -should they he planted?
Answer: There are five vegeta
bles that should U' grown in every
fall garden. These arc snap beans,
turnips, eollards, eownea-. and Irish
potatoes. Other desirable ones are
cabeago, b, ets, kale, tomatoes, sweet
corn, and lettuce. A complete list of
these fall vegetable- together' with
planting dates is g,ven ta Exten-ion
Folder and copie- of this i'-'der
will be mailed five upon application to
the Agricultural Editor, State Col
lego Station. Raleigh, N. C.
tjue-t !);. h.-ii!,! cod :ier ..':! !
fid t.i crowing indict-; daring tin
summer'.'
Answer: If theie is an abundant of
succulent green feed and the ration
is properly balanced the oil may be
left out of the ration. During the dry
nionth-. however, the grass or grit n
feed becomes fibrous and unpalatable
and the oil should be. fed. A four
per cent alfalfa leaf meal will also
aid in making up this deficiency in
the green feed.
Question: How much grain should
be fed to a dairy twin a supplement
to pasture in the summer?
Answer: The average-sied 'cow
can consume only enough grass to
maintain her bady and lo produce
about two gallons of milk a day. Ad
ditional production demands sup
plement in the form of a grain mix
ture containing from 1 '1 to Id per
cent digest ible portein anil thi- should
be fed at the rate of one pound of
mixture lo each .r to 7 pounds of
total milk -production each day.
I!i'i;m I lie ( i in p:i it it- Murders,
ii I lii illiiii'. Di licl ne Murder Mster
Miii v li Wltitmnn ( li;inihcr. m I ho
Aiiieiu-an Ueeklv. the in;i" -"" ' ''r -I
r i ! 1 1 1 : - . v.,.ii miikI.i". .. i.U.ll-
MOliK A ; Kit It AN. Ifnv i( trmii
Willi- IlK'llI IU'MMlOilll'1' r IH'W sl)ll. .
u
is what
the New
FORD-V 8
offers you
A choice i;f 1 1
I'.eauliliil I loci v Types
S-Cyliiiiici- i'Tl'" Miutu i
1 12" Whct'llia.-i' ( -.liaMs-Ford
Opcratintr Kcono'iiy
MO 1 il.es per H'ur
Svivclir-oni.eil ( iettr Whirl ing
Silent Second itar
Ahiniimini ry!':!.!. r ifw;:l; and
pint olio :;''
UiilstaiHtiiiiyAew'leratioti y
Safety ;(i lass- Windshield , y
(Throughout in !. !t '" C.ir-)
X-Tyiie ('hiisis Fi-;uiic.
Four Sell'-adjt:tinp . llyiiraulic
Shock At-t:)'lj i
LOW PRICE
ru. (i imiom: roit v
DEMON STUM ION
ABEL'S GARAGE"
W. T. Raincr
I'Jione 52
AsbevilleJ :id
HERE
Read the want ads.
l