Opinions
DOMINO mORT
Most debtors prefer liquidation
by Charles C. Lewis
Associate Professor of Law
Campbell University
Approximately seventy to eighty
percent of all bankruptcy filings
are made under Chapter 7, the li
quidation section.
In other words, most debtors
who take advantage of the
bankruptcy laws want their pro
perty to be liquidated and their
debts to be paid as much as possi
ble out of the proceeds.
The bankruptcy trustee has the
responsibility of collecting all of
the debtor's property so that it can
Law For Laypersons
be sold to pay as much of the debt
as possible.
You might wonder, however,
how the bankruptcy trustee finds
out about what property the deb
tor actually owns.
The most obvious way for the
bankruptcy trustee to discover
what property the debtor has is to
look at the schedules which the
debtor must file along with his
bankruptcy petition. The debtor
must show on these schedules ex
actly what property he owns and
what debts he has incurred.
Sometimes, of course, a debtor
might not disclose all of his pro
perty on the schedule, hoping ob
viously to save some property from
sale by the trustee. The trustee,
however, may nevertheless find
out about hidden property as a
result of a meeting held with all of
the debtor's creditors.
At the meeting of the creditor's
the debtor must appear and submit
to questioning about his property
under oath.
THEUCB
_ SuMjAJWl
INVESTMENT
ACCOUNT.
IT'S THE MOST SENSIBLE THING THAT
CAN HAPPEN TOyOUR MONEY!
?- ? ? ? ^
Now there's a way to combine the
interest-earning power of money
market rates with local banking con
venience! It's called the UCB
S.M.A.R.T. investment account.
S. M. A. R.T. is short for Secure MAr
ket RaTe account, and it gives you
several important banking services all
in one neat package. Here's What
S.M.A.R.T. Banking Gives You:
MONEY MARKET RATES : On this
account we are no longer restricted
by regulators regarding the level of
interest we can pay. So our new
account will offer a true "market"
rate. These rates change in response
to supply and demand factors within
the money market. The rate we pay
on our new S.M.A.R.T. investment
account will also change in response
to these new factors. The rate will be
competitive with other money market
investments. You may phone or visit
us to determine the current rate.
ACCESS TO FUNDS: As an alert inves
tor, you'll appreciate the flexibility of
being able to access your investment
dollars whenever you need to. Your
funds are always readily available
without an early withdrawal penalty.
Withdrawals by mail, messenger, in
person, or via ucb24 are unlimited.
However, there are some special
check -writing /transaction limitations
which do apply. Your United Carolina _______ ___
Member FDIC
CALL TOLL-FREE FOR CURRENT RATE INFORMATION: 1-800-222-8616
Banker will be happy to explain these
to you. SECURITY : You'll have the
security of Federal Deposit Insurance
Corporation (FDIC) Insurance up to
$100,000. $2,500 Minimum Balance:
Our minimum is lower than most reg
ular money market certificates!
UCB24 CONVENIENCE : Do your
S.M.A.R.T. banking anytime, with
our ucb24 automatic tellers.
FRIENDLY UCB SERVICE: You'll get the
kind of personal attention that UCB is
famous for! ALL THIS AND MORE!
We'd like to give you all the details
about the many features and services'
that our new S.M.A.R.T. account
offers. Talk to your United Carolina
Banker as soon as you can. Then
you'll see just how S.M.A.R.T a bank
account can be!
NOW YOU CAN
BE S.M.A.R.T. WITH
ALL YOUR MONEY!
UNITED
CAROLINA
BANK
ucb
Woman brings ear to court
By Sherry Matthews
About this time 28 years ago
President Dwight D. Eisenhower
was serving his third year in the
oval office, and ihe AFL and CIO
merged into a powerful 15 million
member organization.
Back in Hoke County, the
Raeford Theatre was re-opening its
doors after remodeling and install
ing a new 25 foot screen and "The
Girl Rush" starring Rosalind
Russell and Fernando Lamas was
set to be shown opening day.
It was also during this time, in>
August 1955, that The News
Journal reported that Moore
County was refusing to take Hoke
County pupils into their school
system.
"Acting County Superintendent
W.T. Gibson said this week that he
had been notified that the Moore
County board of commissioners
had declined to accept the offer of
Hoke County of the Little River
School tax plus the purchase of
two buses in return for the
privilege of having 178 Hoke
County school children of Little
River Township attend the Moore
County Schools."
The August 11 article also in
dicated that if Moore County
refused to accept the offer, then
Hoke would have to "make ar
rangements for the children to at
tend Hoke schools during the
1955-56 year."
In the August 18 edition of The
News-Journal it was reported that
a Hoke County youth was sent "to
the roads" for biting another per
son's ear.
"An incident involving the loss
of a woman's ear, not unlike the
"Jenkins Ear" incident of the
history books, and far from
humorous to the principals involv
About This Time
ed, came up in Hoke County
recorder's court this week.
John C. Jones, 19, pled guilty of
biting off the ear of Roxie Little,
and she brought the ear to court as
evidence.
Jones was sent to the roads for
not less than 12 nor more than 18
months."
The August 25 edition of The
News-Journal reported the fatal
auto accident that killed a "new
bride."
The headline read: Highway
Collision Saturday is Fatal To
Sergeant's Bride.
"Shortly after 2:00 o'clock
Saturday afternoon a young Air
Force sergeant and his bride were
returning to Pope Air Force Base
after having been married on
August 10, driving on the right side
of the road at a legal rate of speed
when death in the form of a big
tractor-trailer truck struck.
"The wife was killed, the
sergeant was injured and their 1953
Mercury sedan was destroyed. The
tractor was damaged and the
driver of it suffered minor injuries.
Davis, 22, and his wife Louise who
died on the way to a Fayetteville
hospital. Sergeant Davis was
thought at first to have suffered
near-fatal injuries, but is now ex
pected, to recover.
"The driver of the truck,
Howard H. Wilson, was charged
with manslaughter and was releas
ed Tuesday under a cash bond of
$1,000."
In a later edition of The News
Journal it was reported that a
"tobacco thief" had been caught
by Hoke Sheriff's deputies.
The headline read: Tobacco
Thief Foiled By Buckshot Wednes
day Night.
"Sheriff D.H. Hodgin and
Rural Patrolmen D.J. Jones and
L.W. Stanton feel that a break
may have come in a tobacco theft
on Wednesday morning, although
it may be difficult to connect with
others in the county recently.
"Two youths guarding a vacant
house used for tobacco storage
shot a man down through the door
and officers think they located the
same man in a Bennettsville
hospital yesterday.
"The boys were put in the ten
nant house to sleep and guard
several thousand pounds of tobac
co and were armed with a single
barrel shotgun and a buckshot
shell.
"The boys say that about 12:30
someone began tampering with the
chain and padlock on the front
door of the house, and that after it
became apparent that whoever it
was intended to get in, they fired
the buckshot through the door.
"They could tell from the noise
that someone was hurt and that
others were helping him away.
* "Wednesday, a bus driver
reported to Marlboro County of
ficers in Bennettsville that he had
seen an apparently injured man
beside the road. These officers
picked the man up and carried him
to the hospital.
"Doctors said the man was
seriously wounded with a hole in
his leg about the size of a half
dollar and much larger one in the
back.
Hoke County authorities believe
the man in the Bennettsville
hospital to be the tobacco thief the
boys shot the night before."
Moving is 'nerve-wracking'
by Lucien Coleman
Americans move once every five
years, on the average. My wife and
I aren't average. We recently mov
ed for the first time in 17 years, all
the way from Kentucky to Texas.
If you, too, are planning a
move, the most important advice I
can give you is, "Don't do it." I
haven't been through such a nerve
wracking, body-breaking, soul
trying experience since marrying
off our youngest daughter. Just
going through 17 years accumula
tion of stuff in your basement is
enough to make a strong man cry,
to say nothing of the trauma of
trying to get it into boxes.
One rule to remember when you
move is, "There is always more
than you think." Everything in
your house starts expanding the
moment you start packing it up.
For every bock you throw into a
carton, two more appear on the
shelf. And you won't believe what
you can get out of your basement,
attic, and closets. I found horse
collars, milk cans, bowling balls,
broken umbrellas, defunct toys,
battered briefcases, and non
working appliances I never knew
we had.
Another rule, commonly called
"Murphy's Law," certainly prov
ed to be true. "If anything can go
wrong, it will." For example, just
as soon as we put our house in
Kentucky on the market the roof
began to leak in two places, in
Things That Matter
terest rates zoomed upward, and
signs went up just across the street
proclaiming to prospective buyers
that apartments were soon to be
built in full view of our picture
window.
The sweaty physical exertion of
moving is har.d enough. But the
emotional side of it is even
tougher.
You'll know what I mean if
you've ever had the experience of
hearing your front door click shut
for the last time, or saying good
bye to the garden you've cultivated
for more than a decade and a half,
or driving down a familiar tree
lined street, knowing you'll not
come that way again. You can sud
denly feel that you've lost your
roots.
A home isn't made of bricks and
boards. Memories make a home. 1
walked through our Kentucky
home the other day for the last
time and remembered.
In the living room we had
witnessed my father's second wed
ding, entertained countless
visitors, and opened scores of
packages on Christmas morning.
There were the bedrooms where
both our daughters had bent over
the cribs of newborn infants, and
the kitchen which had so often
been filled with the aroma of bak
ing bread. And the family room,
site of birthday celebrations.
receptions, New , Year's football
orgies, and friendly gatherings.
I turned away, locked the door,
and walked to the car, annoyed at
the lump in my throat, because I
hadn't intended to get emotional.
As we backed out of the
driveway, then drove slowly down
the street, 1 kept thinking of what
Thomas Wolfe said. "You can't
go home again." But as we turned
onto the open road and headed
south, 1 realized more clearly than
ever before that home is not a
place.
Dees Aboard Dewey
Navy Machinist's Mate 3rd
Class Melvin L. Dees Jr., son of
Rachel W. and Melvin L. Dees, Sr.
of Route 2, Raeford, is a
crewmember aboard the guided
missile destroyer, USS Dewey,
homeported in Charleston, South
Carolina.
The Dewey is currently deployed
to Northern Europe as flag ship of
the Standing Naval Forces Atlan
tic, a squadron of destroyers and
frigates representing countries of
the North Atlantic Treaty
Organization.
The multi-national force
operates to demonstrate the unity
and capability of the NATO
alliance.
Port visits are scheduled in the
Netherlands, Germany, Denmark,
Canada and the United States.
The Dewey is 513 feet long and
carries a crew of 377.
Subscription Offer For
College-Bound Students
TAKE ADVANTAGE OF THIS
GIFT SUBSCRIPTION RA TE
9 MONTHS for only $8.74
IF YOU RETURN THIS ORDER BEFORE SEFT. 15th
Start Subscription On