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J. C. THOMPSON.
- Vice-President
Branch Banking & Trust Co.
. -ti': -t Reflecting the .increased costs of
. producing crops and the availabil-
ity of more farni equipment, the
r , volume of bank credit used by
, , "North Carolina farmers is current-
: ly higher than it was a year ago,
According to J. C. Thnmnsnn ViA-
Wi..... President of the Branch Banking
.. .. - ana Trust company, who represents
the North Carolina Bankers As
sociation as Duplin County Key
- Banker. i -v
, - ,i "However, North Carolina farm
' ; families are probably in the strong
- . est , financial position that they
. x .have ever been," Mr. Thompson
. said. "Continuing high farm in-
- comes make it possible to finance
operation out of income and when
credit is used, it is retired when
crops are sold."
; , ; : Reporting on the results of a
! ..; third national survey of bank lend
ing made by the Agricultural Com
?:. mission of the'American Bankers
. ; Association, Mr: Thompson slid
' ' thdt North Carolina Farmers used
. . janly a fraction of the bank credit
. " available fb them during 1946.
v During 1946, loans on farm real
. estate in . North Carolina increased
slightly. There were 6,731 farm
... mortgages made for a total amount
- - - bf $15,683,000; and $15,046,000 of
: ' this volume remained outstanding
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Dummy's
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: IN KEIJAIISVILLE
- , ......
DUPLIN MERCANTILE COMPANY
Has THEM DAILY
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Dlik) UtitiriLilij liiii buaaiir
on January 1, 1947. The farm mort
gage debt is higher than it was a
year ago, although it still remains
only about one-half of the volume
that existed in the comparable per
iod following World War I.
Farm production loans classed as
"other, loans to farmers" Were made
to 67,883 farmers by North Carolina
banks during 1946, xrt -an aggre
gate amount of $49,2 5,000. of this
amount, only $8,213,000 ' was out
standing on January 1 of this year.
The production loans averaged only
$725eah. The farmers' short term
ucbt position is favorable; ana al
though they borrowed more money
last year, they paid back a larger
percentage of the total borrowed,
Another favorable factor in the pres
ent situation is that the farmers
own ' substantial savings in cash,
bank deposits, and United States
Bonds. 1 i i ' ,
A possible source of danger lies
in the trend towards tne mgner
post ' olf equipment and improve
ments which may reach a point
where these purchases cannot be
financed out of current income.
"Another factor in the North
Carolina agricultural picture which
bankers ure' watching carefully is
the. price of farm lands. Based on
1912-14 averages at 100, tne ave
rage farm, land prices of the state
on March 1, 1947.. reached 310,
compared with 223 at the peak of
the land boom in 1920. During the
past year, the increase has been
16 per cent. --''
"The North Carolina Bankers
Association and the ' Agricultural
Commission of the . American
Bankers Association are working
together to help keep farmers of
our state in a sound financial pe
tition. We are vrging our customers
to limit their farm indebtedness tr
an amount which can be paid from
normal" farm incomes, figured from
the long term-average prices of
farm products. We recognize the
unusual character of farm Income
and the farm land price situation
at the present time, and as bankers
we arc pledged to discourage bor
rowing to speculate on farm land
or borrowing to buy land at high
prices which are not justified by
long term Income prospects," Mr.
Thompson said. J'We are ; encour
aging North Carolina farmers to
round out and diversify- their pro
duction and to conserve ar.d build
7
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"'
up the productivity of their, soil,
Another important part ? of this
program Js concerned with the edu
cation of farm youth through acti
vities such as the 4-H Clubs and
Future Farmers." - "
ADMINISTRATOR'S NOTICE
. , " TO CREDITORS
NORTH CAROLINA , - ,
DUPLIN COUNTY
Having qualified as administrat
or of the estate of Mrs. Katie Veach
Middleton, deceased late of Duplin
County, North Carolina, this is to
notify all persons having claims
against the estate of said deceased
to exhibit them to the undersigned
at Warsaw, N. C, on or before the
27th day of June, 1948, or this no-
tice will be pleaded In bar of their
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recovery. All persons indebted to
said estate will please make Imme
diate payment. '-'
. This 21st day-of June, 1947.
. H. M. Middleton, Adminl
strator of Mrs. Katie
Veach Middleton.
8-l-6t HDM , -
NOTICE OF ADMINISTRATION
Having this day 'qualified as ad
ministrator of the estate of Will
Hicks, Deceased, notice Is hereby
given to" all persons having claims'
against said estate to file them
with the undersigned administra
tor within one year from the date
hereof or this notice will be pleaded
in bar of any right of recovery,
All persons indebted to said es-
tate will please make immediate
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This 4tlt day of July, 1947. '
Helen Hicks, Administ: aloi
of the estate of Will Hicks,
Deceased. ,
Robert L, West, Attorney y
8-8-6t. RLW
NOTICE OF EXECUTORSHIP
The undersigned, having quali
fied as Executor of the Last WiU
and Testament of I. T. Bishop, de
ceased, late of Duplin County, Glis-
son Township, and having qualified
before the Clerk of Superior Court
of Duplin County, on the 20th day
of June, 1947, this is to notify all
persons who have claims against
said estate to present-their claims
to the undersigned Executor, or Ills
Attorney, on or before the 20th
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cmrfbF friendly : sen tics
dav of June, 1948, or tola notice
v -1 1, j plead in bar to their recov
ery. All persons who are indebted
to said estate will please make im
mediate payment.
This the 20th day of June, 1947.
' R. A. Bishop, Executor of
the last WU1 and Tesla
meiit of I. T. Bishop, de
v ceased, Route- 2, Mount
Olive, N. C.
H. E. Phillips, Attorney,
Kenansville, N. C.
8-l-6t. HEP
ADMINISTRATORS NTICE
Having this day qualified as ad
ministrator of the estate of Ida
Thomas, ate of Duplin County,
North Carolina, this is to notify
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ill persons , having claims agal
said estate to present them to t j
undersigned duly verified on or L -for
one year , from date of Uat
publication of this notice or tfcis
notice will be plead in bar of thf c
recovery. All persons indebted ts
said estate will please make imme
diate settlement ;
This the 11th day of June, 1947.
Clarence Thomas, Administrator
Ida Thomas estate. - .".
H. E. Phillips, Attorney.
7-25-6t HEP ' . . . : .
Of 188,500,000 tons- of woodcut
in the United States each year for
lumber, pulp and paper and other
commercial products, ; 108,900,003
tons, or 51 percent, is wasted er
burned for fuel.
I 1 '
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