Newspapers / The Waynesville Mountaineer (Waynesville, … / Dec. 10, 1942, edition 1 / Page 20
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i f - A . r. FIRST NATIONAL BANK CELEBRATES 40TII ANNIVERSARY THE WAYNESVILLE MOUNTAINEER J. R. Boyd Served President 28 Years President 28 Years (Continued from page 1) and served until 1911 when the in stitution was consolidated with the First Natonal, Bank and he became president of the merged bank, Mr. Boyd held this position until 11939 when he sold a large part of his stock to Jonathan Woody, of Atlanta, and retired from the presidency. He remained chairman of the board of directors, n which capacity he has served since 1927. Mr. Boyd has been active in county affairs since 1893. He served for a period of eleven years as a member of the county board of education and was for several years a member of the Waynesville special school charter. He has served as mayor of Waynesville, as a member of the county commissioners, and repre sented Haywood county in the state legislatures of 1925, 1927, and 1929. As the president of the First National Bank Mr. Boyd became a recognized leader in the financial affairs of this section and his poli cies in conservative banking have had much to do in building the prestige that the institution en joys today. Food Administrator i fyvf . - v X -wv -,1 ;rV s ' If President Roosevelt named Secr tary of Agriculture Claude R. Wick rd. Food Administrator. Wickard v as placed in supreme control over the production, distribution and ra tioning of food and other farm com modities such as fats and oils, cot ton and other fibers and tobacco. (Central Prtu) First National Bank Has Deposits In Largest Banks In State and the World . . . x - - Safety Policy Of First National Has Inspired Trust (Continued from page 1) ed by its early establishers and came through with no serious losses and maintained the trust of the people at all times. In addition to the safety and wund management of the First National Bank, the Federal De posit Insurance Corporation pro vides further security. In case a bank, so insured were to close, the FDIC would pay off depositors up to $5,000 the full amounts. They would also pay them at once, not making them wait on the liquida tion of the bank through the usual slow process. The insurance of deposits up to a maximum of $5,000 for each de positor due to the insured deposits of the customers costs the bank ap proximately $1,200 a year. The bank does not stress this safety measure, for the officials prefer to have the customers feel dependent on the safety of the in- Steady 0f00ir r has characterized The First National Bank We Extend Congratulations On Their 40th Anniversary W A T C H l S GROW When You Need LUMBER BUILDING MATERIAL ROOFING FEED CEMENT PAINT HARDWARE PLUMBING See Underwood Lumber and Supply Go. Phone 371 "We Give Service'1 At The Depot J. C. GALUSHA, Owner BUY HERE phone 106 Main strcet : $$hjf AND SAVE pOa . .0. " ' , . ,; ill 1 ! Specials From Our Toy Dept. DISH SET 31 piece DART GAME . MACHINE GUN BABY PANDA ....... 98c BLACKOUT War Time Thrills 1304 C3 E62H Rat Tats! E190S .90' PER?5"AL GIFTS &i Men! LEATHER DltiLPOIiD Handy com partmenta. Qyc MRim....- LEATHER KKV CASE. Embogged. hooks. C MR32:8..,.V CAPRSKIN Flsnnel lined MR1717- 20. J." .$l9 Many Others Savings! Quality TIES Hand Model Wide Selection Stylet & Colors! EACH 55- y:p.ts Other Styles 55c to $100 Limited Stocks S.nrle lor t 2DWT 1105 SPRING BOUQUET LIFETIME GUARANTEE against checking or crazing assurance of quality! Distlactiv! Famousl Made of fine American semi-porcelain. Similar set sold in leading china shoD of the nation. Open Stock TENITE "NO DRIP" PITCHER SET Distinctive table convenience for syrups, etc. 14 0Z.&48OQC oz. SUs w SPORTS GIFTS FOOTBALL 33 jJLf Official , . BASKET FullyJV BAI, Size 4.85 Xmas DECORATIONS Tma l.lrkta P3l' -bu1b MaidnQOc set. When the First National Bank was established in 1902, the first steps, according to J. H. Way, vice president, were to select cor respondent banks in the leading financial centers. , The Chase National Bank of New York City was selected as the New York correspondent, and the First National has Had an account with the Chase National Bank continuously since that date. Mr. Way stated that in the selec tion of a correspondent bank that the management was given full consideration and the wisdom in the choice of the Chase National has been shown in the fact that today it is the largest bank in the world, having resources of ap proximately four billion dollars with offices in all the principal cities in the world. At the same time the Wachovia Bank and Trust Company, the largest bank in North Carolina, was chosen as the North Carolina correspondent. The main office of the Wachovia Bank is in Winston-Salem, wjth branches in Ral eigh, Charlotte, Asheville, Salis bury, and High Point. This gives complete coverage for the state and immediate clearing of checks that are deposited with the First National. The total resources of the Wachovia are over 150 million dollars. Mr. Way also pointed out that the First National Bank is a mem ber of the Federal Reserve Sys tem and keeps an account with the Federal Reserve Bank in Rich mond, Va. The present reserve require ments, he stated, for a member bank in a town the size of Way nesville, was 14 per cent of its de mand deposits, and 6 per cent of its time deposits. In calculating this percentage, he indicated that the First National's reserve re quirements which were deposited with the Federal Reserve Bank of Richmond totaled approximately $200,000. It is necessary to keep this reserve on deposit at all times. v ELECTRIC WREATH Cellophane 10" 610 New GOP Chief THURSDAY, DECEMBER 17, 1942 (One Day Nearer Vif r FULL-PAGE CHRIST pictitrp tx- J;i.1M4s -.-. i. n " s A bitter battle over the party chair manship of the Republican National Committee ended in the election of Harrison E. Spangler, veteran Iowa party leader. A member of the com mittee for 10 years, Spangler said he did not take the election as a per sonal victory but as a party effort to "help this country defeat the New Deal." ON HER KNEES "How did you get along with your wife in that light the other night?" "Oh, she came crawling to me on her knees." "What did she say?" "Come out from under that bed, you coward!" Latest Posting And Bookkeeping Methods Are Used (Continued from page 1) by modern machinery. Today these machines are almost uncanny in their complete opera tion. They not only post checks and deposits in rapid-fire order, but they carry several separate to tals which are necessary in book keeping operations. The speed with which these ma chines operate is many times faster than the system iised in the early bookkeeping day. On busy days the machine makes about 10,000 entries. It Is the policy of the bank to CfiT rin. Delightful paintin,, w .. ' I nent American artUt v, " "4 reproduced in tunVTPH charming work of art ' ' timely Yuletide incwl' sound advice on how l ? the holiday i years miss this unusual featu December 20th ,,! le tb The American Weeku 'K aiagazme ru.i I BALTIMORE SUNDAY AMERICAN In QW At ri WUitj, The banking equipment and ttl tomers. A young blue whale puts on weight at an average rate of 220 pounds daily. National Bank was organized W, T. Blaylock was cashier of the Bank of Waynesville, and upon his res- ignation E. L. Withers was elected to fill the vacancy. Two years later Mr. Withers joined the firm of John F. Bass, which became Among Business Firms On Main St. Forty Years Ago , Main street of Waynesville forty years ago when the First National Bank opened its doors is a far call from the Main street of today. The street was unpaved and in rainy weather often offered a lane of red mud, through which the horse drawn vehicles literally plowed their way. Business firms have changed ownership and there are many new namss and establishments on the street since 1902. Crecking with t. A. Howell, who owned and operated a dry goods store in the building now occupied by the Smith Drug Company, the names of those doing business back forty years ago were found to be as follows: Wells and Lee (W. T.) dry goods store, (next to Claudette Beauty Shop in Ray building). Clyde H. Ray general merchan dise, (in McCracken building). Ray and Coble, genera merchant dise, (in building now occupied by Martin Electric). Milas Davis Jewelers, on corner of Smather building across from post office. Clarence Miller, leather and har ness firm. Rhinehart and Turbyfill Hard ware (Central Cleaners building). Miss Hattie Siler, milliner, shop in frame building on site of Citi zens Bank building. George Williams dry goods store, in the building now occu pied by Belk-Hudson. . Waynesville Dispensary, where all kinds of intoxicants were sold, in building on site of Garretts Furniture store. Mcintosh Drug Store in build ing now occupied by Charlie's Place. .': C. S. Whte plumbing shop. Waynesville Courier owned and edited by G. C. Briggs in building on site of Massie Deparment store. John Wright dry goods store in building now occupied by Burgin's. The post- office was located in bulding now occupied by Sanitary Barber shop. ' The firm of E. L. Withers which dates back to 1904, is said to be the oldest business now in operation on Mam street. When the First Na tional Bank was organized W. T. Blaylock was cashier of the Bank of Waynesville, and upon his resignation E. L. Withers was elected to fill the vacancy. Two years later Mr. Withers joined the firm of John F. Bass, which be came Bass and Withers. The firm of E. Withers which dates back to 1904, is said to be the oldest business how in operation on Main street. When the First Bass and Withers. As One Growing and Progressive Firm To Another . . . . HEARTY Congratulations On Your 40th Anniversary OAR Furniture Store Friendly Credit stitution, but they are glad to remind that a . government agency is standing back of the bank to protect it. One of the highest tributes to the First National Bank is that all through the years of its oper ation it has held the complete con been due to the wise policies of its founders and the successful fidence of the people. This has THE BEST VALUES IN BAG ORANGES 450 -950 -$1-85 Tangerines - - doz. 190 GRAPES BOX ORANGES NUTS 290 up ENGLISH WALNUTS PECANS BRAZIL NUTS MIXED NUTS CANDY 12 it lb. up 1 Pound To 5 Pound Boxes Stick Candy --2 lbs. 330 PURE SUGAR STICK CANDY Extra Soft APPLES Ronvfc Beauty Staymans 10 lbs. 490 CAKES Fruit Cakes - - 300 up COOKIES IN PACKAGES CIGARETTES IN CARTONS CIGARS PRINCE ALBERT MEN'S POCKET -KNIVES IIP 3 lb. can 690 Fruit Cake Ingredients PINEAPPLE CHERRIES CITRON ORANGE LEMON PEEL NUTS RAISINS DATES swans xjown . .tA Cnko Flour box 29 Cocoanut - - - ptevili Flavoring - All Flavors. Cake Coloring COCOANUTS - - - "c VEG ETABLEb FANCY TOMATOES - 'fXBV LETTUCE CAKKUio r.i EATS HENS TURKEYS Bacon Squares lb- Z Liver Mush 'MS BOLOGNA - . lb. 37 Half or Whole Cured Hams - CASH GROCERY GO . The Better Food Store" Hazelwood management of its officials.
The Waynesville Mountaineer (Waynesville, N.C.)
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Dec. 10, 1942, edition 1
20
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