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tmiRSDAY, EEPOTtBEfe 1952
it
Recipioitt Of
SociaJ Secuirty To
Get More Oct. 3
Nearlj* every family in the Fay
etteville area now getting old-age
and sur\'ivors insurance payments
will receive more money beginning
with the September payments due
about October 3. If the increase
does not show’ on a check when it
arrives early in October, and an
increase is due, a later check will
make up the difference. It is not
necessary for people already re
ceiving beneifts to apply for the
increased payments.
Vernon D. Herbert, manager of
the Fayetteville social security of
fice, stated today that the recent
amendments to the law will mean
monthly pay increases ranging
from $5 to $8.60 for practical^’ all
of the 1,400 retired insured work-
'ers in the Fayetteville area. The
average increase for retired work
ers will be about $6. In general,
benefit payments to wives, wid
ows, children, or parents will be
increased proportionately; Herbert
pointed out, however, that the in
creases for dependents and sur
vivors would be less than those
for retired workers. In most cases,
these increases will be about $2
to $5.
“The reason for this,” Herbert
explained, “is that the law has,al
ways provided limits to the total
of benefits which may be paid any
one family in a month. In some
cases, the^ increased benefits of the
retired worker alone will absorb
all of the permissible increase.
Under these circumstances the full
increase will be given in the check
to the retired worker and the ben
efits to the remaining members of
his family will remain unchanged.”
The 1952 amendments to the law
also provide for larger payments to
future beneficiaries, Herbert de
clared. Until now, the law has
protrided for payments to most
such newly retired persons, equal
to 50% of the first $100 of his
average monthly’ wage after 1950,
plus 15% or the next $200. The
new law just passed provides for
a benefit of 55% of the first $100
of average monthly earnings, plus
15% of the next $200. The effect
is an increase of up to $5 a month.
Proportionate increases for depen
dents’ and survivors’ benefits will
be based on that of the worker.
The revised formula will apply
generally to most persons who will
become eligible for benefit pay
ments in the future, Herbert §aid.
0
Test Farm Aims Blow
At Major Problem
Tidewater Test Farm will be
striking at one of North Carolina’s
major farm problems when it con
ducts a drainage field day at Ply
mouth September 25 from 9 a. m.
imtil 4 p. m., according to G. W.
Giles, head of the department of
agricultural engineering at N. C.
State College, and Cecil Thomas,
in charge of the division of test
farms. State Department of Agri
culture.
It has been pointed out that over
7 million acres of land in North
Carolina are unsuited for farming
because of inadequate drainage
and water control. The situation is
particularly acute in Hyde, Wash
ington, Beaufort, Tyrrell, Martin,
Dare, Pasquotank, Perquimans,
Bertie and Camden Coimties.
J. L. Rea of the farm will have
charge of the program which is
being conducted in cooperation
with the Agricultural Extension
Service, N. C. Experiment Station,
Soil Conservation Service and
State Department of Agriculture.
Approximately 400 farmers are
expected to attend the demonstra
tions. L. Y. Ballentine, commis
sioner of agriculture, R. W. Cum
mings, director of the N. C. Ex
periment Station, and E. B. Gar
rett, in charge of the State Soil
I Conservation Service, will be pres-
I ent.
i The most important ■ feature
scheduled, according to Giles, is a *
tiling demonstration that will show
methods of establishing the grade,
digging the ditch, laying tile, back
filling, and construction of tile
outlet. Other top demonstrations
planned are open, ditch mainten
ance and demonstration of the ap
plication of anhydrous ammonia
and liquid nitrogen.
0 —
Tomato Is Reisstant
To Fuasrium Wilt
Seed of Homestead, a new high-
ly-productive, fusarium wilt-re
sistant tomato are available to
North Carolina farmers and gar
deners for spring planting, ac
cording ot W. S. Barham, vege
table breeder for the N. C. State
College horticulture department.
The Homestead tomato has been
tested >for five years by the North
Caroilna Experiment Station and
has proved satisfactory; however
it is not resistant to bacterial wilt.
No bacterial wilt tomato has yet
been developed, Barham says.
The Homestead was developed
at the U. S. Department of Agri
culture (USDA) laboratory at
Charleston, S. C., and has been
tested in Florida. The tomato is
named for the town of Homestead,
Fla., location of the Sub-Tropical
Experiment Station of the Univer
sity of Florida, where the princi
pal trials of its commercial possi
bilities were conducted.
On wilt-infested land in south
Florida, a region in which 12,000
acres of tomatoes are grown each
year, mostly for green shipment,
local growers were impressed with
the results of trials over 3 years.
In creating this new variety, the
Laboratory plant breeders used a
series of crosses involving the
well-known varieties Victor, Pan
America, and- Rutgers, and the less
common variety Dobbie’s Cham
pion. The subsequent trials were
.carried on mostly by the USDA
and the Florida Agricultural Ex
periment Station, although it has
been included in Experiment Sta
tion trials in practically every
State iri the South, with favorable
results in most cases.
Observers in south Florida say
that when picked green. Home
stead ripens firmer than Rutgers;
it has the Pan American’s near
immunity to fusarium wilt, and
it meets the needs of the area bet
ter than other wiltrresistant va
rieties available.
The Departmetn of Agriculture
has no seed for distribution. A
list of the seed firms expected to
have Hoihestead seed this fall will
be furnished by the U. S. Vegeta
ble Breeding Laboratory, Charles
ton, S. C., or the Plant Industry
Section, Beltsville, Md.
» i
RABIES INFECTIONS IN
neighboring counties
A bulletin from the State Board
of Health reports 122 cqses of
rabies for the first seven months
of the year in the State. No cases
were reported for Hoke or Moore
counties.
Gases in nearby counties are
listed as follows: Harnett 1, Cuni-
berland 1; Bladen 8; Robeson 6;
Scotland 6; and Richmond 5. This
would indicate that Hoke’s great
est danger comes from Robesan
Scotland and Richmond counties.
0 ^
Dixie Bright 101 and 102 to
bacco varieties are resistant to
both Granville wilt and black
shank diseases.
oaa
■"■"""■'"’■statement
FACIFIC COAST FIBS INSURANCE COMPANY
Yanoouver, B. C., Canada
Condition Pefie)0ib«ir’M, HIM, as Shown by Statement Filed.
Incomf^^-slYom PolibyBolders —: - —
Miscellaneous — — ,
Total —•- - - 1,271,577.16
Disbursements—To Policyholders 581,310.17
Miscellaneous - - — 611,932.23
Total - 1,193,242.40
ASSETS
Bonds - - 1,346,041.51
Stocks - - - - 993,570.00
Collateral loans - 375,369.53
Agents’ balances or uncollected premiums ....$216,808.23.
Less ceded reinsurance balances payable — 69,008.67
Reinsurance recoverable on loss payments — —. 27,693.43
Interest, dividends and real estate income due and accrued 8,518.84
All other assets as detailed in statement 25,077.48
^ • -
Total admitted assets ., $2,924,070.35
LIABILITIES, SURPLUS AND OTHER FUNDS
Losses unpaid - - - $ 334,491.40
Loss adjustment expenses unpaid — 20,768.65
Contingent commissions and other similar charges 20,900.00
Other expenses (excluding taxes, licenses and fees)
Underwriting $ 3,236.54
Investment 3,236.54
Taxes, licenses and fees (excluding Federal income
taxes) - Underwriting $35,093.13
Investment 35,093.13
Unearned premiums .1. —. . — - - 1,107,569.14
Funds held by company under reinsurance treaties . 17,780.71
Unearned premiums on reinsurance in unauthorized
companies - 8,449.18
Reinsurance on paid losses and on unpaid losses due
from unauthorized companies 8,764.46
Total liabilities ■- .....$1,557,052.61
Statutory deposit — $500,000.00
Unassigned funds (surplus) 867,017.74
Surplus as regards policyholders — 1,367,0 1 7.74
Total
U. S. Mgr. Lawrence J. Tillman
U. S. Home Office, 111 John St., New York 38, N. Y.
2,924,070.35
Attorney for service: WALDO C. CHEEK, Comissioner of Insi^ance,
^STATE^OF NORTH.CAROLINA, INSUR^CE DEPARTMENT,
Raleigh, Jime 25th, 1952.
I WALDO C. CHEEK, Commissioner of Insurance, do hereby certUy
that the hbove is a true and correct abstract of the statemer^ of me
Pacific Coast Fire Insurance Company, of Vancouver, B. Ck, iiiea
with this Department, showing the condition of said Company on me
31st day of December, 1951. , , . u
Witness my hand and official seal^^e c” CH^K^'^^ written.
Commissioner of Insurance.
STATEMENT • '
PACIFIC EMPLOYERS INSURANCE COMPANY
Los Angeles, Calif. > '
Condition December 31, 1951, as Shown by Statement Filed.
Income—From Policyholders $24,463,022.19
Miscellaneous —
Total - -
Disbursements—To Policyholders
Miscellaneous ..: —
Total “assets
Bonds — - — —
Real Estate — -
Cash and bank deposits ;
Agents’ balances or uncollected premiums $3,426,821.86
Less ceded reinsurance balances payable 104,691.00
Interest, dividends and real estate income due and
All other assets as detailed in statement .....^ ,.—
626,726.68
_ 25,089,748.87
.. 13,802,090.00
.. 10,460,651.20
24,262,741.20
_$20,729,033.35
604,543.56
.. 5,055,483.52
46,574.75
19,475.00
Total admitted assets $29,777,241.04
LIABILITIES, SURPLUS AND OTHER FUNDS
Losses unpaid ^
Loss adjustment expenses impaid __
832,649.00
52,200.50
Other expenses (exclutog taxes, licenses and fees)
Underwritmg $ 52,200.50
Investment—
Taxes, licenses and fees (excluding Federal income
taxes) Underwriting $681,405.91
Investment
Unearned premiums ■—
Dividends declared and unpaid! Policyholders
Amounts wimheld or retained by company for account
of omers - —
All other Liabilities, as detailed in statement 333,065.04
$25,589,135.09
681,405.91
5,613,186.00
406,026.14
193.50
Total liabilities —
Special surplus funds:
Capital paid up
Unassigned funds (surplus) —
Surplus as regards policyholders —
41,350,000.00
.. 2,838,105.95
4,188,105.95
Total - - - - $29,777,241.04
BUSINESS IN NORTH CAROLINA DURING 1951
- Net Losses
Line of Business Net Premiums
Workmen’s compensation $10,002.00
Liability other than auto 498.00
Auto liability — -— 694.00.
Auto property damage — 570.00
Auto collision — 10.00
Property damage other than auto — 5.00
Miscellaneous — — —— 5.00
Surety : - -— — 2.00
Burglary and theft - - ^ 839.00
Fidelity
Total - - $10,958.00
President Victor Montgomery; Secretary Victor Montgomery, Jr.
Home Office 1033 S. Hoje St., Los Angeles 15, Calif.
Attorney for service: WALDO C. CHEEK, Commissioner of Insur
ance, Raleigh, N. C.
STATE OF NORTH CAROLINA
Insurance Department
Raleigh, June 18th, 1952.
I, WALDO C. CHEEK, Comissioner of Insurance, do hereby certify
that the above is a true and correct abstract of the statement of the
Pacific Emplovers Insurance Company, of Los Angeles, Cal., filed
with this Department, showing the condition of said Company on the
31st dav of December, 1951.
Witness my hand and official seal, the day and date above written.
WALDO C. CHEEK,
Commissioner of insurance.
Incurred
—$5,533.00
342.00
1,597.00
1,381.00
297.00
20.00
118.00
—$2,054.00
We Have On Our Lot A Wide .Choice Of Good New &
Used Cars.
We Handle All Makes And Models
,£225 Can &|^For Yob^
luicks - Fords - Shevrofets
' Plymouths - Mercyrys
FINANCED IN FIVE MINUTES
Belton Wright
AT
WRIGHT’S HARDWARE - SUNSET HILLS
BtLONG
HERE
TOO!
i'*,.
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The Red Springs Merchant Association Invites You To
TRADE IN RED SPRINGS
AND PLAN TO ATTEND THE
RED SPRINGS FALL FESTIVAL OCTOBER 29TH
Free 1952 Chevrolet
Many Other Free Prizes — Full Program For Big Day
HtLPINC
TO BUILD
Yes, electricity is an important part of the happy scene above. In
modern homes all over the country electricity provides light and
ivarmth and entertainment. It also eases the household chores
and provi - 3S more leisure time for the enjoyment of the things you
like to do at home.
•And — electric service is so dependable that you hardly have to give it a thought
. . . you merely touch the switch and there it is to serve you with more convenience
and comfort than has ever been enjoyed before in the history of the world,
Yes, electricity BELONGS in the homes of America.
/ .
TODAY AND EVERY DAY
i
TRADE IH RED SPRING
( CAROLINA POWER & LIGHT COMPANY^