THE PERQUIMANS WTEKLY, FERTFf
'D; NORTH CAROLINA, FRIDAY, JULY 15.-.C--5.'
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'4 fe !
.I"-
. 5
N
; : Aimettncement kaa been made of the engagement of Miss Kim- ,:
y Perry, of - Hertford, daugbier of Mr. and Mrs. William Joseph
lerry of Merry Hill, to Noah Elbert Edwards, f Nerfeik, -son ef
' l.'r. and Mrs. John EMridge Edwards of Dobs on. The wedding win
t " place September 11.
,Zir.MVESERVESASB),M,CE
..ia'RLIIttTIflJR CREDIT SYSTEM
Th h-mpriHoTii vohrMn of loan :
:.id Investment funds required' to
r aintain a high level of activity
s.nd smooth ftow of goods and ser
vices in an economy as big and as
dependent on credit as ours, points
rp' the vital, role played by te. help stimulate recovery; The ef
. ederal Reserve System in promot-Sfectiveness of this policy is now ap
Lg stability in this area.'. ' (parent in the 'extent and strength1
For as the nation's central bank! of the current upturn. '
and, therefore, a chief influence in
t'.e money market, the Federal Re
f rve is the balance wheel of the
i ation's credit system. As such, it
must constantly walk a tightrope
' 3tween inflation and deflation, and
orrectly read the economic omens
'.n order to meet the responsibili
i'.ea and fulfill the broad objec
tives set out when the System was
established by Congress four dec
ades ago. -" ' -
Alertness to Change
, 1 REPORT OF CONDITION OF .
IIRTOD MA COM
of Hertford, in the State of .North Carolina, at the close of business on
June 30, 1955. ''.:' ' . " ...j .'-,..,,,-
, . , ASSETS . - ' , .. , '
( , i Cash, balances with other banks, including reserve bal-
v : ances, and cash items in process ef-coltectiont., f,.-577,281.18
2. IT. S. Govt, obligations, direct and guaranteedA.i.-i 1,071,722-50
3. Obligations of States and political subdivision.- - 391,978.34
4. Other bonds, notes and debentBres--'-.;!;,.! v f V,?,i ( 58,000.00;
Loans and discounts -l: '.LJ-iA-i-'- 8,70,5.68
1- Bank premises owned, $17,854.26; furniture;, and fix- .' :
. ; - tures, $8,636.52 , - : , 26,490 78
11. Other assets - - - - 10,045.93
It. TOTAL ASSETS
LIABILITIES
13. Demand deposits of individuals, partnerships, and cor- '
:'' porations 1 s. , $1,361,617.43
14. Time deposits bf individuals, partnerships, and corpor
ations 940,623.42
15. Deposits ef United States Government (including pos-
. tal savings) , 37,553.60
16. Deposits of States and political subdivisions ; 77,299.39
18. Other deposits (certified and officers' checks, etc.) ' , 3,394.65
19. TOTAL DEPOSITS , $2,420,488.49
29. Bills payable, rediscounts, and other liabilities for
borrowed money ; -300,000.00
23. Other liabilities - - : 9,188.96
24. TOTAL LIABILITIES (not including subordinated ob-
aigations shown below)
CAPITAL
j. capital ...
! Surplus . 'I .,.
T. Undivided profits -
J. Reserves (and retirement account for preferred capi-
tai
X
TOTAL CAPITAL ACCOUNTS
X TOTAL LIABILITIES A CAPITAL ACCOUNTS. $3,005,874.4 1
This bank's capital consists of: .Common stock with total par value
.$-5,000,00. - - i,- - ' i -f. .
V? MEMORANDA -V,
. Asset.: pledged or assigned to secure liabilities and ' "s
v for other purposes . . $ 438,513.12
I, R. L. Stevenson, Cashier of the above-named bank, do solemnly
Cat the above -statement. is true, and that it fully and correctly
the tro state Of the several matters herein contained and
-X t the best of my knowledge and belief. , i v
. , R. L. STEVENSON,
Correct Attest: '
- . R. M. RlDblCK;,JR '
, V. N. DARDEN,
f J CHAS. E- JOHNSON, ' ,'
" '" ,"' 'Directors. ' i
i a C.oui..y of Per umans sst
-v r-f0i, r Uiis 12' h day ft July, 1955,
t I l tt li TPT . " '! "
An::b::::2cd
, .- .i , i
JZI
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a:
. - II f
Certain recent' actftintt! Urobilin.
ietenil !act?onS j are illu-
minuting fn this resectf' In the
brief 1953-54 business readjust
ment, for example, the Reserve
pursued a policy of active credit
ease to (level out the decline and to
Now ; the Reserve is closely
watching the economic horizon for
signs of a revival in boom psychol
ogy and speculative excesses, which
might Wind up in a depression. As
a precautionary measure it has al
ready imposed a certain degree of
restraint on the credit stream, such
as the recent rise in the discount
rate. It also has twice raised the
margin requirements for the pur
chase of stocks. It is interesting
i to note in this connection that the
$3,005,874.41
. . .
.$2,729,677.45
ACCOUNTS
i
.$ 25,000.00
. , 150,000.00
. ' 76,196.96
25,000,00,
X
-r-v 276,196.96
Federal Reserve did not have au
thority over the amount of credit
in- the stock market before 1934. '
The Federal keserve System was
formally established In December,
1913, to give the country an elastic
currency, to provide facilities for
discounting eommercia. paper, and
to improve the supervision tof
banking. However, it became rpc ,
ogrri-ed as timewent.on that, these;
specifies were an integral , pirt , of
t a broader objective rto help coun
teract inflationary and deflationary
movements, and, to share in creat
ing conditions' favorable to sustairt-
edhigh employment, stable values,
growth of the country! and a rising
-.v...,,.4,:A ' ' 1 .V'-1'
Vital Economic Bole "
, Today it is this broader - objec
tive that is regarded , aa the pri7
mary purpose for the establishment
of the Federal Reserve, v As part
of this, the Reserve has made im
portant contributions to economic
knowledge and understanding while
continuing, its functions in the cred
ti and money -markets.. One im
portant result- is its Index of In
dustrial Production, which is one of
the standards-by which economic
trends, are measured. Another is
the Survey of Consumer Finances,
which probes people s economic at-i
titudes and- buying intentions as a j
guide to what Hies ahead. 1 he Kfe- discount rate, the .raisingrf tow
serve also has done important work ering of bank reserve reyiiiftteinents,
la otaer .economic aras such as,
such
department v store statistics, coh-:
sumer credit, and savings. ; - ''.
The. Federal Reserve-System as
it was set up and evolved over the
years is an unusual combination of
private ownership and public direc-
Taylor
Edenton, N.f C.
THURSDAY AND FRIDAY . . . JULY 14-15
. . ' . WALT DISNEY'S
"VANISHING PRAIRIE"
" ' Also Added Attraction '
; "Willie The Operatic Whale"
3 4 TlTDTt A V T TT
-'"ROBERT FRANCIS
THEY RODE, WEST"
Alse 5 Cartoons
SUNDAY, MONDAY AND TUESDAY . . , JULY 17-18-1
RETURN ENGAGEMENT REGULAR ADMISSION
h Warner bho&mikot ' pv .
"vliT0 LBO M0IM NANCY JAMES .
HEFLIti - RAY-FREEMAN 0LS0K- WWTMORE
leMn vr rr IE0B531IS arnrnum wi
Sunday Shows; 1:45-4:30-8:45; Monday and Tuesday Show
Starts 3:30, Features 3:45-6:30 and 9:10 . V
WEDNESDAY, THURSDAY AND FRIDAY , . . JULY 2Q.-J2
slid
Tecu;:;scm
S FESSFAfitR-EUODY
II w vL-.
1 ; . ADMISSION: ChSdren under 12 years' I5j ;f 1 1;
, Adults regular prices '
mm 17 cve-d oo
Eder.tcn,N. C. .
FRIDAY AND SATURDAY . . . JULY 15-1
- n ' ERODESICK CRAWFORD In
"LAST O? THE COMANCIIEST
SUNDAY... JULY 17 " '' ' 1 ' '
. , GLENN FORD fn :'--'
"THE BIG HEAT"
MWwVWWWWwWWIrVwWWVylMSWiUia
1 MONDAY AND TUESDAY . . . JULY i8-19 " -
' JOT:L McCFA In -" . .:' '
AAAAMMMVlAVMWWWWWWIkM'r' : - ' ' 'Sl-wVWl V m SSW
TEDNECDAY AT.D T. "..-' " -
tiom? However, it has eonistent.
displayed. a high degree " ef inde
pendence f decision ad action as
was made evident' four years ago
when it prevafled over tiw Treasury
w m "-
nd a"d "
of the hl toK makjnf for u1'
tlon" , . ., , , -) , 1 , ; .
Th wsic :part of the sysUm is
the regipnal Federal Reserve Bank,
There are' ',1Z iq( jthe$e,with 24
branched, and tnei ajjitM gtock is
provided, and owned , by- member
oank3, -the n-'fai eserv. eoara
of Governors," with headquarters a! wis called to order by the presl
Washington,' k : the coordinating fob After a abort business dis-
and policy-making element.' ' Its
seven members are, appointed! kb'y
the! President and confirmed by
the Senate. The expenses of the 'al and the program was given by
Board and its staff are paid by that-. Mrs. John ifewby Winslow. Mrs.
regional banks. j Winslow talked on "The Challenge
Source of U. S. Smtnet ' of the City" and Christian response
The Federal Reserve, System now. to the city, the group then all
has-around 20,800 on the payroll, f8" together "Where Cross the
and; it has proved a tidy soure, of
revenue for ; the ' Government. In
the last three- years alone it paid
close to a billion dollars . into the
U. S.' Treasury as interest en Fed
eral Reserve notes. - v "' 1 .,
' The Reserve has three basic, pew-'
ers by which- it can influence the
volume
credit'
and flow' of money and
These are changes in the
and open market purchases or sales I
of U. S.i Government securities,
These actions may not directly af
fect other lenders, but they ilo
have a psychological influence
The Reserve also has been given
specific authority at times
Theatre
riTtriaii irgrinmnnn'efiri'rii'M)rA.iwmjui
V
AND' DONA REED tn ,
ItAYMONO tL fPRQJSf rffl?ni F1
MASSEY-HilER- MALONt-f RAIiCIS V
" "
BIOUIWAISI'
rw jr
EBSEtt . ,. . ", f ' '
-f.i r .-.
allier forms f cisdit, such as con-
sumer' loam In the Korean Wax
and1 World War IL However, it
has no regulatory power over direct
Federal lending and credit guaran
teeing activities stemming from
specific legislation, such as te cur-
vent ultratiberal terms for certain
classes of home payers. s
... CIRCLE MEETS :i ,;'
' TLe Blanche Meekins Circle held
Its' regular monthly meeting Fri-
I day night; July 8, at 8 o'clock with
Krs. Preston Nixon. ' The meeting
euspion'roM was called and minutes
read and approved, ' Mrs. Louis
Powell had charge of the devotion
v-rewuea ways oi uiv. tm meet-
ing was dismissed with prayer by
Mrs. Winslow.
k Delicious refreshments were ser
ved by the hostess. - '
WESLETAN GUILD MEETS-
f Th Wesleyan' Service Guild of
Epworth Methodist Church in Win-
Who in the world can tun
etraruU so Cut and so fre
quently as your telephone?
"Your telephone goes
wherever you 'send it, t
quickly, cottccdy and in-
pensively, Want proof? Just
keep a record of the errands
your telephone does for you .
in any given day ' .
THE NORFOLK ft CAROLINA
fyiLEPHONK A TELEGRAPH
, COMPANY
B. City . Edenton . Mantee
Most srea of any
I.
!
wi'Vi
K.s. Tha.as H. Vyhiie.
The. devotional was conducted by
Mrs. Shirjey Williams. The pro
gram teaf let entitled "United Na
tirms Toward a World Fellowship"
was presented by Mrs. A. R. Wins
low. -
Mrs. A.' R. Winalowr spiritual Hfe
ehairman far thel new year, aUo-
piesented a Spiritual Theme. i .
i Th regular business was con
ducted after which th Guild pre
sented a "Going-Away ' gift to
Mrs. ' K. M. Jamieeen, i:sse hus
band has- been' sent t another
charge. ' ' ' - , -",:(
. The- hostess; served-delicious Be
freshments tof i home-matte , ak,.
sundaes and; nuta. -' '
Vets Question Box,
Q-I have a Korean C-I term iiw
surance1 policy. At the end of the
five-year', term: period, what wi!lv! I
have to do to renew it foy another
five years '. ,
': A You needn't do anything--e-cept
make, certain your premiums
are paid on time,. - So long as your
policy is in force at the -end pf tha
term period, it will be renewed aii-
low-price car, fpr'a truly iig-aar
'1 hfeLl i' 3 June r- Anz
, Look styling. , . , most comfoht in the roomiest interiors far Plymouth ' , , moat safety and '
'C0MMY Wures . . . two top kwctost the fiyllnder powecElow 117 or the 167-hp Hy-Fire V-8.
In fact, yon n pay as' rxiueh as $500 more lor medium-price cars that ato'amffie than the .low-prk ?;
-Ptymourh! Model for wedel, mdium-priet ears ctfst muck more than Plymouth cbeck price' tags -4
see how much more cor Plymouth gives yen for your dollar Drive ft h!g nevr lljFmcHr--i todayl
tomatically- ' ' 1 ', ,
I an p!jinirT to ( t a' G
busiies loan to be L sure , rather
than guaranteed, by the VA. ' What
U the znaximun. rate of; interest on
insured ' non-realty loans ? 1
- A Ths interest my not e-2ed
a three ver cent discount rate, air
ap equivalent simple interest rate
cf;5,7 jeafcu,,.',., , .,.r
(dottoh llzii To End '
JTcViNewXa-
, 'An exciting nati io six months
of iateraatmial travel awaits 190.
Maid of Cotton De Lbis Faulkner
at Memphis, Tenn., July 15. At
that time presentation of a streBm
tinect new Ford Crown Vieboria, t
"ITT UflliTrn
II) WlllttK
DE-AY:
, .'1 1
4
, Brush, on tat ilyrsfnooth
' WmK a e3y i til 1
w f m- nv nun
to east Mart n Atiy
jblfid lura
t "TRADE SERE AtfD BANK fflEfilFtrpRENCf?' I
! PttONE ; ' HERTFORD, n! C.' -
sf-rvvsvwesliasVV
nn
rkfc ..;most : WMJTT wish beautiful,
Xing Cotton's young fashion and
good will ambassador will conclude
her tour officially.' '. ,i
.'The car will be presented to the-ST-aw,
CI:!a., beauty ,by the
S:B-;Jig District Ford Dealers. ' It
will recognize hev terviee to- totton
j and will serve to point up the close -
workings, relationship botwen tna
co&tocvJtnd Vutomotive- industries
The automobile, industry .is one of
the largest users of .cotton,',
, The award wUI iba ad' at a
luncheon given in-(honor of 'the ,
Maid-s of Cotton by, the Ford deal-"
i era group, at the HoteH. Fcabody lit ,
Memphis. - Judge X C.I Johnsonf
West - Memphis - Ark. president: of ,
tUr. U.mnliui T?4 TIaoIahb', A )v4 '
tisihg 'CenUnittee will be ia-charge.
TJi.it iiMiiTPiii
IliAIJ Wllilt!
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