Newspapers / The Farmville Enterprise (Farmville, … / July 15, 1938, edition 1 / Page 5
Part of The Farmville Enterprise (Farmville, 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
REPORT OF THE CONDITION OF THE BANK OF FARMVILLE FARMVILLE, NORTH CAROLINA At the close of biuJaeM oo Jane SO, 1938 - ASSETS I. Cash, balances with other banks, and cash items in process at collection ?:???;?i? 3 341,468.06 3. United States Government obligations, direct and fully "guaranteed i - : 88,629.69 A State, counV, and municipal obligations 219,036.68 6. Corporate " stodtg" : 1,600.00 T. Loans and discounts 261,052.97 9. Banking house owned, furniture and fixtures 26,641.60 (Bank's squity, subject to None encumbrances not assumed by bank). 15. Other Assets v 1 _? 5,511.80 16. TOTAL ASSETS : 3 948,827.59 LIABILITIES AND CAPITAL 17. Deposits of individuals, partnerships, and corporations: (a) Demand deposits . $ 566,206.18 (b) Time deposits evidenced by savings pass book 72,648.79 (c) Other time deposits 52,883.58, 19. State, county, and municipal deposits 102,873.15 20. Deposits of other banks .?, 1 13,779.57 21. Certified and officers' checks, letters of credit and travelers' checks sold for cash, and amounts due to Federal Reserve bank (transit account) .?_ 2,558.34 22. TOTAL DEPOSITS 8 809,398.56 29. Other liabilities 8,025.86 ?i ? . . 30. TOTAL LIABILITIES EXCLUDING CAPITAL AC COUNT 3 817,424.42 81. Capital account: (a) Capital stock and capital notes and debentures! 3 50,000.00 (b) Surplus 50,000.00 (c) Undivided profits ' 26,408.17 (e) Total capital account 126,403.17 82. TOTAL LIABILITIES AND CAPITAL 3 943,827.69 33. On June 30th, 1938, the required legal reserve against deposits of this bank waa 3108,527.80. Assets reported above which were eligible as legal reserve amounted to $340,393.01. 34. tThis bank's capital is represented by 1000 shares of common stock, par 3 50.00 per share. MEMORANDA 35. Fledged assets (except real estate), rediscounts, and ; : securities loaned: \ (b) Other assets (except real estate) pledged to secure liabilities (including notes and bills rediscounted and securities sold under repurchase agreement? 90,000.00 (e) TOTAL , 90,000.00 36. Secured and preferred liabilities:' (a) Deposits secured by pledged assets pursuant to requirement of law 102,873.15 (e) TOTAL - ; 102,873.15 I, L. E. Walston, Cashier of the above-named bank, do solemnly swear that the above statement is true, and that it fully and correctly represents the true state of the several matters herein contained and set forth; to the best of my knowledge and belief. ?* Correct.?Attest: L. E. WALSTON, Cashier. JNO. T. THORNE, Director. A. C. MONK, Director. T. C. TURNAGE, Director. State of North Carolina, County of Pitt Sworn to and subscribed before me this 9th day of July, 1938, and I hereby certify that I am not an officer or director of this bank. (SEAL) GERALDINE GARDNER, Notary Public, My Commission expires March 14, 1940. There are parents who have chil dren who spend money faster than < the parents can find it. ? ?; Fasrism is the idea that a man with $100,000 is worth ten men with $10,- I 000 and 100 men with only $1,000 apiece. The adjournment of Congress will enable many congressmen to attend to some very important business. Frankly, we do not see how fisher men in 1938 can tell any bigger lies than have been told by fishermen in the past. REPORT OF THE CONDITION OF THE BANK OF FOUNTAIN FOUNTAIN, NORTH CAROLINA, At the close of business on June SO, 1938 ASSETS 1. Cash, Jxhucos with other banks, and cadi items in process ^ at collection I ? I 25,849.87 8. United States Government obligations, direct and fully 4. State, county, and municipal obligations 9,894:24 7. Loans and discounts ... 106,271.79 16. Other assets 198.90 It TOTAL ASSETS I 150,369.42 LIABILITIES AND CAPITAL 17. Seposits at individuals, partnerships, and corporations: ? ~ t%) Demand deposits ~ f 62,625.70 (b) Time deposits evidenced by savings pass books? . 28,107.29 It. United States Government and postal savings deposits 38.31 ?o y-y T ?? vaoo , ? t _i a t ? _a > m 'a-i rr^ilr ?'' ^ Fists at NortlLjQirfML-flBto of Pitt ? ????? -' - r - W ttlM. fUn 1ft3% A oa* ?# Jill ' 1QQQ ^ 4 "t?-* Bs?8&?c ^54-c itsifT woury FODUC* Ky coBuaiflskm tni'liw Jsuuary 11 1989*" . ?<- . - ? . ? "_' a",A' 17^^^AAA/^ft ^T%^ ff % '.Ti!;;j^f? m ?#?!? V ? ^U ?? I ^Bk BUYING SURPLUS FOOD. FSGC END IT? WWE. s?? WHAT HAS BEEN DONE. (Hafo & Sims,. Wsfhiagton Corres pondent.) ? The farmers of the Unit^p States have long been acquainted with the problem of acute want in the midst of abundance. They know thfttuieod goes to rot for want of markets while farmers are ruined by prte&r which do-not return them-enough to meet- obligations. Our cities team| with hungry and underlclad families, j unable to buy the farm surplus. Asj < Senator Borah says, "This country would have no farm problem if the people in the cities chad enough to. eat and to wear." Faced with this situation, nearly five years ago the -Government ex perimented with the purchase of sur plus farm commodities for distribu tion to persons op direct, relief. Since August, 1933, rhore ihatt ' $220,000, 000 worth of food has been distribu ted and now the Federal Surplus Com modities Corporation, with :$80,000,000 to spend is attracting widespread at tention throughout the nation. ' " . ''J -A 'st <-? ? ? -"J Recent reports indicate that " the Federal Surplus Commodities Corpo ration will buy up to 15,000 tons of surplus raisins, 250,000 gallons of maple syrup, 2^00,000- pounds of surplus cheese, 9*000,000 hags of flour, 500,000 cases of surplus grape fruit, 8,000,000 bushels of apples, to gether with eggs, potatoes and other commodities. ? ' ;; I | The commodities will be distributed to relief organizations in various states which will pass theni out to relief clients. The purpose of the distribution is to increase consump tion and at the same time, relieve farm commodities of surpluses which tend to drag prices lower. One result of the Government's ef fort to dispose of these surplus farm commodities is a drive to extend the policy into other areas. Already, it is announced that 110,000,000 .worth of clothing will be purchased for dis tribution to relief-aided ^families. However, the FSCC will confine its activities to the farm surpluses, leav ing to other agencies all efforts to bring about the distribution of other surplus commodities. The argument is made that the FSCC, an ageney de signed to aid farmers, cannot risk the blame that might attach if other buy ing programs arouse popular resent ment. I>tV Advocates of the FSCC policy in sist that food and clothing are funda mental and that the . Government should remedy a ? situation which leaves the people under-nourished and ill-clad. At the same time, the prices are far under a profit level to ?farmers and yet the purchases pre vent market demoralization and wbuld intensify farm distress. Secretary of Agriculture Henry A. Wallace is intensely interested in the economic prospects" of the buying and giving program. He has largely con fined the operations of the FSCC to bolstering commodity markets in periods of heavy supplies that put great pressure on prices. Experience has shown that a relatively small amount of support prevents a break in prices that would mean financial distress to large numbers of farmers. . -vvf:' : As an eiample of tb^wkration [let us take up die case of butter. [This is a basic commodity for dairy ! farmers. Its price is set on the pro dutff exchanges. In the past, when surplus butter appeared, prices broke disastrously. Now, when the price of butter gets to about 23 cents a pound, the FSCC is likely to begin to buy. Consequent ly, the pressure to sell eases, the price tends to stabilize and all dairy farmers are protected by the activity of the FSCC. In less than five years the Government has purchased 90, 000,000 pounds of butter St a cost of more than $22,000,000. The purchasing is done to stabilize prices, but as soon as the market im chasing puts a floor under prices of miscellaneous products, just as com modity loans place-a floor under the level of cotton, wheat and corn prices Secretary Wallace argues that the controls whieh industry, better or ganized, already utilizes to its ad vantage. Agriculture he says, divided into six million small competing units, lacks the means of voluntary cooperation while industry, concen 3|Fm' ** I Contrasting agriculture with in dustry, Mr. Wallace says thktfar I raers continue to produce at a rate [per cent lower in purchasing power ^^^^ggry, 1937. This means ? "? ? - ??"i ? 1 On the other hand, says Mr. Wal lace, industry Axes its price and sticks to it, sacrificing production and jobs in the process. The Steel indus try, he says, cut production from ninety per cent to twenty-five per cent of capacity, thus?*'plowing un der" half of the worfcerg. The auto mobile industry cut production from one hundred to forty-five per cent and "plowing under" vast numbers ol workers. All industry cut produc tioiT from" one bunded'fifteen per cent of the 1928-25 average to sevens ty-four per cent and "plowed underi* millions of workers. These workers, the Secretary of Agriculture points .out, rapidly get on the relief rolTs ?nd;the Government has to take care of them. In other words, under pres ent conditions in the United] States, the Government cares fbr the work ers until industry needs them again* This resume of the activities of the FSCC is given because the agenm and < its practices will probably cojme in for Bharp criticism during the next few months. Farmers should know what it is all about. FOUNTAIN NEWS <Br MK3. iL P. YBLVBBTONj Miss Elizabeth Smith is spending the week at Myrtle Beach. Mrs. W. D. Owens is visiting rela tives near Stantonaburg. L Mrs. G. L. linker of Durham la a -guest efber-sister, Mrs. B. H. Owens. Mrs. Ava Ware of r Raleigh spent the week-end with Miss Nelle Owens. Mrs. Jimmie Sutton spent Sunday at Moreehadd Beach with relatives. James Forrest of Greenville spent several days recently-with 'relatives. Mrs. Wade Barber of Pittsboro is visiting her sister, Mrs. E. B. Bess ley. Rufus Wilson Brown underwent a1 tonsil operation Monday in Park! View hospital. Mrs. J. W. Jefferson spent Thurs day with her sister; Mrs. B. C, Eason in Macclesfield. Gibbs Johnson left Mondays for Salemburg where he will attend sum mer school at Pineland college. R. L. Eagles of Richmond, Va., spent a few dayB recently with his parents, Mr. and Mrs. F. L. Eagles. Mrs. W. E. Smith and Miss Carrie Smith spent the week end with Mr. and Mrs. E. B. Beasley in Raleigh. Mr. and Mrs. Glen Cobb and daughters, Betty Jean of Brooklyn, N. Y., were guest recently of Mr. and Mrs. Jimmie Sutton. Miss Edna Gardner left Sunday for Ashville where she has accepted a position in a beauty parlor for the summer months. Mrs. J. W. Redick and daughters, Misses Julia Ward and Mary Carolyn Redick are visiting relatives at Hope well, Va. \ Mr. and Mrs. Horace Eagles trod daughters, Ann of Erie Pennsylva nia, and Mrs. Eric Copeland of Dur ham are house guests this week of Mrs. J. R. Eagles. fc&rfVj*.' ?' ? (< I ? ?* * ? ? ? ENTERTAINS AT BRIDGE AND ROOK Mrs. E. B. Beasley entertained Wednesday afternoon in honor of her sister, Mrs. Wade Barber of Pitts boro. Sharing honors with Mrs. Barber were Mrs. Horace Eagles of Brooklyn, N. Y., and Mrs. 'Eric Cope land of Durham. Bridge-and Rook were anjoyed. High score prize for bridge was won by Mrs. A. C. Gay and for Rook by Mrs. C. M. Smith. The honorees were presented gifts, The guests were served coco-colas while playing and at the conclusion of the game the hostess served frozen fruit salad with wafers, sandwiches, iced tea and cakes'. Livestock Controls?, I Dodder In Lespedeza ? Pasturing livestock on lespedeza fields in summer: is a good way of ?controlling dodder, or love vine, that infests North Carolina legume fields, said A. C. Kimrey, extension dairy ?Medalist t at State College. Dodder is a serious menaee, especially where lespedeza is being grown for seed. 1;^ When the animals eat this, parasite, duced, but the lespedeza will later produce seeds for harvest or for re seeding anothr crop on the same land the following year. One dodder plant, allowed to grow, may yield 8, 000 seeds, and if harvested with the lespedeza wiH make the legume dan gerous to use. Under the State seed law, dodder is classed as a noxious The surest way'to fight this para site iB to plant only lesj^cdeza seed I known to be free from dodder, said E. C. Blair, extension agronomist This meitts that growers should not harvest seed from fields that are itnd? mm* on lespedeza or other plants Every good citizen should contri bute some of his time to the support of worthwhile community undertak ings. Farmville could make faster progress if everyone volunteered to help. ;J?Tot every man- who praises democ racy believes in his own doctrines. , , k - ' Give n* woman & sew outfit and she immediately wants to wear it some where . ;? Almost anybody is interested in getting something for nothing, Yon can say one thing about the Congress it knows how to appropriate public money. i I rll II113kl,i wl 111 & 1 rHTT?-?l?! f" 1 i?l.c ssssr I ft I rSSBSSiSI; 1 **? ' "****? ?? .? >'- -BtMilaf Mtetr * fc?r- $ * j wh??l brakes. all^tMl body. " ; / and tab# tell, UteQwH .:: riwnte Md'* ,?l?WhlT: f " *** ? f; ; .} * ? ??' '?"* * , . :'?'_? '.. 1- ' \ , ' je ?' .<??'?' ?' ifi V ii'i - ,^1-v -J~ iUPCtVAIIl SSVfl MOM rmifiiiT eesr,.... V? UUfitfrlW 2KJ2& ! *&5l?5i - W PTTfl It MH ; 1 ?> IBSwiL2r KTytrp: I ' f?MH Tty r ,? .. ? 7. ' H&?k i:M : mmmi l\ni ^ ? i Farntvifie Service Station FARMVttLE, N. C. ? I I B ? I ? 1'^^ Colonial Grspcfniit B1 No. 2 Jjc y-m mm: y^mm ? :??v Soap*zic a >2Tr . * ** ? ffcsufl^ISc Waldorf y ?' - Tissue 4 *?* 19c N. B. C. Chocolate Cakes lb. Be ? ? '' 4rtf.: . :?;? ? ? ::* 1* : South Haven Spiced Pears *& 15c Idierries 2 L1 27c |; 'i . ' ii' i ff.;/ ! :? . '? f : ?'. I Southern Manor Tiny Green IXIemBeans TJ isc I Southern Muw Golden Bantam I Sweet Cecil tee > I Colonial Sliced I Peaches 2 ^ 23c * v^5g^552S5S222BBw**m2L***^iid*****e3BESBS$ I Southern Manor * I Delicious 1-4 lb. I 16A jm 2 Fk? 2#C I ^ Fresh OH Fashioned II Colonial Bread '? 7c | * * ' "-' i -*?* - .1-. A - { - .1 . ^ ?'?.'*- ? '?-.?? * ^7" CJW' ? ?.? W. '*'? ' ^ ' 0 '?? ? 1' \? * 'V .'f'' * f'? >s" .' '. "? '? ? > ? ' / lMn | .. - ?' f ,-V -? . , ??? ?SBBBBBBBBHBBMBHBBBBBBBBBBBBBBfc flpBftBB"* ^lili^ liiifr * .?-.fl ? B <>rrB BtB &?? B A Jr ^ ? ^B x. ^B ^B?^B-*^B~~^B '*? ^B. IBB IB v. ,BB lI V B |^B ^0^HI ^H(|p^- v. *PVpHBP?i^lHNPBBB"^BPr^BB?iBBfBBRBBBB8P '* r BP ?B ^^B B m f By All M?m Buy a If MMt RtnUWRATQIll i m tcoaomy'.Tbtm'toobmttbaytttaypritx. M M 1938 G-E MoMm Climax a Smashing I ? 12-Y*ar Rtcortof Emt B m\ 1- ?? n n ? >? n ntai 1 -~-^ ?, ' | .? _ 5 i>iTm^ ? ^ ?*?jn%Tm ^RAflY ? *-j i .? 3L0WDOWN *AI I I H ? I aSra 3 I ^MR:'' ^f? ^ABMViiiL?E<, ?* v* I '.q PPPBPH fr- t >i?; ? -?%? -^^^K^,., , ?,:'?.*# ?$ ''''?- ''?-"'. ^/cV-.: ?'??'?? *VJ*..?'- '* . ,.iv>".'"*v. ' ....?.-. - ?<v-^ '-*-? ?""*
The Farmville Enterprise (Farmville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 15, 1938, edition 1
5
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75