THE TRIBUNE HOLDS THE TROPHY CUP AS THE BEST NEWSPAPER IN NORTH CAROLINA OUTSIDE THE DAILY FIELD
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VOL. No. xxn, No. 29
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Festive Spirit Shown
As Stock Is Subscribed
To Open Bank of Elkin
J. H. FULGHUM PLAYS
LEADING PART WITH
JOKES_AND MUSIC
Keeps Everyone In Good
Humor As Goal Is
Reached
TRIBUTE IS *P AID
t
If the citizens of Elkin expected
to attend a meeting fraught with
tears and frowns when they gath
ered at Hotel Elkin last night to
do or die In effort to save the 1Y»-
cal bank, they were mistaken.
For thanks to the efforts of Rev.
J. H. Fulghuin, who has taken a
> leading part from the first in ef
forts to open'the institution, the
necessary #5,000 and more stock
was subscribed amid jokes, har
monica solos and tales that rival
ed a minstrel.
Acting upon the theory that to
accomplish anything, everyone
must be kept in a good humor,
Mr. Fulghuin entertained from
the start. He told one Negro
joke that netted $1,750 in stock
subscriptions. He played the har
monica in a way that brought re
peated cheers from the numerous
citizens present. He poked fun,
he made speeches and he made the
task of raising the full quota of
stock lots easier and more pleas
ant.
There was a spirit of coopera
tion from the start. Those that
had bought stock prior to last
night's meeting, bought more.
Everyone appeared willing to do
his part, insofar as it was possible
and whe nat last it was announc
ed that the stock had been raised
and only a few details remained
to be cleared away before the
bank opens for business, the ho
tel banquet hall fairly shook with
cheers.
One of the final acta of those
present was to give Mr. Fulghuin,
J. R. Poindexter, C. S. Foster and
others who have played a leading
part in the efforts to open the
bank, a rising cheer.
BAPTISTS CRITICIZE ROOSEVELT
The Southern Baptist convention
at Washington Monday night voted
down a motion to strike from its?
program a resolution deploring thei
attftude of President Roosevelt on
prohibition and "especially that he
allowed the White House to be used
to advertise the bepr business." In
stead It adopted the social service
commission report containing the
paragraph of disapproval.
France has 800 manufacturers of
agricultural implements, about
twice as many as before the war.
Bee Specialist
To Be In County
On May 31st ♦
C. L. Sams, extension bee
specialist, will be in' Surry coun
ty May 31, according to an an
nouncement made. by /. W.
Crawford, county farm agent,
Wednesday. Anyone in the coun
ty having bees, who would be In
terested in having Mr* Hams vis!
them, is requested to get in
touch with Mr. Crawford imme
diately.
THE ELKIN TRIBUNE
I ATE NEWC
from the
State and Nation
Sign Truce
Tokio, May 23.—An agreement
for a Sino-Japanese truce which
leaves Peiping free from Japa
nese occupation was signed at
Pieping today, according to news
dispatches to the capital.
Before receipt of these reports,
official Japanese quarters fore
cast (he early conclusion of a
North China armistice.
Gales Cause Deaths
Kansas City, May 23.—Nine
teen persons were killed by tor
nadoes and heavy grfles which
yesterday caused damage to
buildings and crops estimated at
several millions of dollars in
widely scattered localities in Ne
braska, Kansas, North Dakota,
South Dakota, Montana, Minneso
ta and Colorado.
Pass Bank Bill
Washington, May 28.—A thun
derous chorus of "ayes" toda>
put through the house the em
compassing Glass-Hteagall banl
reform bill designed to safeguard
the dei»osits of money earners and
give assurance that federal re
serve member banking will be
strictly separated from specula
tive operations.
College Head Dying
Gastonia, May 23.—Dr. W. J.
McGlothlin, president of Furman
university, Greenville, 8. C., in
jured in an automobile crash
near King's Mountain, on May
16, today was given "only & few
days to live by Dr. L. N. Glenn,
staff surgeon at City hospital
here where Dr. McGlothlin is a
patient.
Paid No Income Tax
Washington, May 28.—A sen
ate investigating committee was
told today that none of the 20
members of J. P. Morgan and
company paid any income tax for
the years 1981 or 1932 because
of losses reported by their firm.
N. Y. Goes Wet
Albany, N. Y., May 28.—A
strong we* vote in upstate coun
ties tonight indicated a wet vic
tory in New York state's special
election of delegates to the state
repeal convention.
Hold Funeral For
Israel Byrd, 88
Israel Byrd, 88, passed away at
his home in .Wilkes county early
Tuesday, following a brief illness
from a heart ailment. Funeral rites
were held Wednesday morning from
Dennyßville church by Rev. N. T.
Jarvis and interment was in the
church cemetery beside his wife,
Mrs. Olive Seagraves Byrd, who died
about four years ago.
He is survived by one daugh
ter, Mrs. Nancy Younger, and sev
eral grandchildren. The deceased
was an. uncle of E'. L. Byrd, of this
city.
„ ' V.
ELKIN, N. C„ FRIDAY, MAY 26,1933
MORE IMPROVEMENT
NOTED IN STATE'S
RELIEF SITUATION
Surry, Yadkin and Alle
ghany Show De
creases
WILKES IS HIGHER
A continued improvement in the
status of destitution in North Caro
lina is indicated by a report released
by the governor's office of relief
which states that the total amount
of money spent for relief purposes
during April amounted to $1,091,-
835 as compared with $1,323 r 346
spent during March, a decrease of
$231,511, or about 17.5 per cent.
The report shows that the de
crease in expenditures is even great
er than the decrease in number of
families, which was from 164,000 to
138,000, or about 16 per cent, thus
revealing the encouraging fact that
not only are fewer families being
aided but that those yet destitute are
requiring less assistance than pre
viously. The average expenditure
per family during April was $7.90 as
compared with $8.07 for March.
The total amount spent in each of
the following counties during April
as compared with March follows:
Surry, March $9,898, April SB,-
971; Alleghany, March $2,565, April
$1,103; Yadkin, March $6,959, April
$4,314; Wilkes, March $10,157,
April $12,467.
With the exception of Wilkes
county, which showed an increase,
the remaining three counties listed
above showed decreases in expendi
tures.
SURRY TAX SALE
TO BE POSTPONED
Legislature Authorizes
Extension Until De
cember Ist
The Surry county board of com
missioners, at their meeting the
first Monday in June, are expected
to postpone the real estate sale for
delinquent taxes until next Decem
ber, it was learned Tuesday, inas
much as a bill introduced in the
gener«' assembly and passed shortly
befci; that body's adjournment, au
thorized such a postponement.
However, under the new act as
pertaining to Surry county, the com
missioners have the power io set the
date of the sale at any time be
tween the present and next Decem
ber, and although the meeting in
June may not see a postponement
until the last month of the present
year, it is almost a certainty that
the sale will be postp6qed to some
later date. ,
In case the tax sale should be
postponed until December and then
prior to that time the commission
ers should deem it wise to move the
»ale up a few weeks or months, un
der the act as passed by the legisla
ture they would have that right.
However, there is little prospect
that this clause will be called into
use.
FAR FROM SETTLED
Although much has been said and
written about a proposed settlement
of the Smith Reynolds case thfougb
the establishment of a huge Rey
nolds endowment in which other
members of the Reynolds family
might join, the case is far from be
ing settled, it was announced Sun
day.
DRAW FIRST DIVIDEND
I
There 1 is expected only a small
amount ,of relief funds for this coun
ty next inonth. And there may not
be any funds available at all.
Full Quota of Stock Subscribed
At Meeting of Citizens At Hotel
Elkin Last Night; Was Do or Die
Denmark Appointee
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Miss Helen Lee Doherty, dangh
terter of Mr. and Mrs. Henry L.
Doherty of New York, is now in
Denmark, going (j, ere to be Assists
ant to Mrs. Ruth Bryan Owen, new
U. S. Minister.
LOCAL PEOPLE ARE
INJUREDJN WRECK
Auto Accident Puts
Wade Family In
Hospital
As the result of an automobile
collision which occurred about 11
o'clock Friday night ftn highway 10,
near Catawba, Mrs. L. I. Wade, of
Elkin, is in a Statesville hospital
recovering from severe injuries, and
three other members of the Wade
family are recovering from minor in
juries at their home here, follow
ing hospital treatment in Statesville.
Those injured, in addition to
Mrs. Wade, were her husband, L. I.
Wade, and their daughter and
grandson, Mrs. Enzo Jemma, and
Enzo Jemma, Jr., of Rome Italy.
Mrs. Wade, the most severely in
jured of the party, suffered a frac
tured nose, lacerations about the
face, and chest injuries, in addition
to numerous painful bruises. Mr.
Wade's left hand and hip were in
jured. Mrs. Jemma and her small
son suffered minor injuries, cuts
and bruises.
The Wade car was said to have
been traveling east on highway 10
about a half-mile west of Catawba,
when the accident occurred. It was
said that another machine, traveling
west, side-swiped their car, causing
it to turn over several times down
an embankment. Mr. and Mrs. Wade
were thrown from the car by the
force of the impact and were uncon
scious'for a short time. The entire
party was carried to a Statesville
hospital by pamers-by.
In the confusion immediately fol
lowing the accident,, the occupants
of the car which hit the Wade ma
chine made their getaway. Mrs.
Wade's parse, containing S6O in
cash, which was left in the front
seat of the wrecked car, was stolen.
Mrs. Jemma and her son returned
to Elkin several days ago. Mr.
Wade returned Tuesday. The con
dition of Mrs. Wade will not permit
her removal from the hospital with
in. the next several days.
The Wade car was said 1 to have
been almost completely demolished.
ADDS TO "BRAIN TRUST"
M. W. Prague, Harvard professor
who helped guide the Bank of Eng
land through the trying period when
the nation left the gold, standard,
was reliably reported Monrfay night
to have been selected by President
Roosevelt as economic adviser to the
United States government.
Bank Situation Had Come to Showdown With
Failure Meaning Liquidation; All that is
Necessary to Open Doors is to Secure
Agreement of Remaining Deposi
, tors to Sign Over 15 Per
Cent of Deposits
NEW CHARTER MUST THEN BE SECURED
Upon Opening 85 Per Cent of All Deposits Will
Be Made Immediately Available; Expect
Opening to Come Within the next 10 Days
The Bank of Elkin will open!
At a meeting of business men of Elkin and
vicinity in the banquet hall of Hotel Elkin last
night the full quota of stock was subscribed.
All that remains to be done now is to com
plete the process of getting depositors to sign
over the necessary 15 per cent of their deposits,
secure a new charter from Commissioner of
Banks Hood, and the way will be cleared for the
New Deal in Elkin.
The signing over of the 15 per cent of depos
its is expected to be completed within a few days.
A few more days will be necessary in which to
apply for and receive the new charter. Then El
kin will have a 100 per cent sound bank open for
business and ready to serve the needs of the cit
izens of the town and this section. Ten -days
should see the opening.
Attempts by long distance telephone last night to reach Ed
win Duncan of Sparta, and Claude Doughton, of North Wilkes
boro, who have subscribed one-half the stock necessary to open
the bank, failed. What their immediate plans are, now that the
opening of the bank is assured, are not knowrt.
Last night's meeting was called when it appeared evident
that subscription of all the stock to be sold lodally, was not forth
coming. The bank situation here had reached a showdown. It
was at the cross roads, one leading to success, the other to fail
ure—and liquidation.
The meeting opened without any sob stories. Everyone ap
peared to sense that it was now or never, and under the good
humor and jokes of J. H. Fulghum, of Mountain Park, the sub
scriptions began to come in. His good humor was infectious.
The meeting had been under way hardly ten minutes before it
resembled a "Hail, Hail, the Gang's All Here" sort of affair. And
as the minutes passed, the necessary stock, share by share, was
subscribed. The entire task was completed within an hour and
one-half.
Upon the opening of the bank, every depositor will have im
mediately available 85 per cent of his or her deposits that were
in the bank when it closed March 6 upon the order of the pres
ident.
Under the regulations as laid down by Hood, it will be an en
tirely new bank. In name it will be The Bank of Elkin instead
of Bank of Elkin. It will be a purely local bank* owned by the
jcitizens of Elkin and vicinity. No bank in the state will be any
more liquid.
As to who the new officers will be is not known at this time.
It is understood that Edwin Duncan will be in active :nan
ment, but directors will have to be elected by the stockholders,,
The directors will in turn elect officers to run the institution
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