Newspapers / The Perquimans Weekly (Hertford, … / Jan. 10, 1958, edition 1 / Page 5
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- . Iirm Borrowings Make x,ajoriiy Jit Life Company 3 To Business And Industry L 3 nation's life insurance corn- F les have made loans tgBMgatJ in more than a billion dollars to small business in the foutvyear' Deriod from 1A5S thmurii IBM: V period marked by a tightening, money situation and record de- mands for credit and Investment! funds on the capital market. (These loans to small business in the period, ranging from sev eral thousand dollars' to $250,000 represented' about three out of four of all life company loans to business and industry from 1953 through 1956, i Loans up to $50, 000, and averaging about $25,000J each, represented bv. far the ble-1 gest single' category.". The figure; of $250,000 is' generally regarded as, the demarcation line for small business borrowing. i f ? :; ' ,; -f : s .:; Survey ot Lending . .This evidence of the extent' that the people's funds accumu lated behind their life insurance policies are being made available : to help- meet the capital and : credit heeds of small business ap pears in a special survey of life (Jisurance lending to business and industry ; tnade , by the Life, In i suranpe Association of America, i "Jjhe survey was submitted at the i repent . hearings of the Select i Committee on Small Business of j the-House of Representatives. It was based on data collected from 1 67 life insurance companies with ; total assets of 'almost $74 bil i lions, or 77 per cent of the assets 4 he'ld by all life insurance com peaces. '-!A-: : '.: -. ; The survey also brought out that the rise in interest rates in i the period from 1954 to date had I si greater impact on. loans of ' large size than smaller ones. The (figures show that between 1954 t and 1956 average borrowing costs ' oh 'loans of $10 millions and over increased about three times as j much as.( the average rate , on loahs of under $50,000. Because i luev me mure exuemve lu intuitr .' and to administer, loans of small ' s'ze, of course, carry a higher in- terest. rate than laree loans. - :i Growth In tUnaS Loans jiThe survey shows an increase "'-fnftm ,miqt in war tn 4tiA ftiimliAr gl.VIII JkUl .U tJ - ... v.... .w. .-... Oind amounts of loans up to $250.- , panies or-xsraau Dusiness.inp I ntimber of jnich loana'iherMsed from around 3.600 in 1953 to Irmore than m ires, a nse r-,9 t.VAl.f 1ft mm nAVlt ' TltA 'Atf. (rrconto annual amounts ' rose firomsJysaz, mmons m ism ro ' more tnan $3w millions in moo, art increase, ftf about a thjrd in the period. Mortgage loans rep- resented the predominant forni of iOW YOU!) SOliAL SECURITY ! P. E. Bettendorf, representative of the Social Security Ad ministration, is in Edenton every Thursday at the North Caro. lina Employment Security Commission In Citizens Bank Building. , ' ' ' ' (TlkAiiflnMilfl n nnM niDrWfQ find v " operators, are preparing ..to file their 19"57 Federal Income .Tax Returns.' At the 'same ime, and as a part of that report, most of them will be reporting their Ctli ltUlS UUIH u,v..m.. cial security purposes. ' ?. Since old-age and ; survivors insurance "has become of , major 1 .... i. 1 Am .m WV.ftF.1T fq-ITl iiiinn vanis m. f- , people, the district social .secur ity office wishes to ppim oux we . following iacxs as reminaers; l. v Social security .coverage ws first extenaea to we sii enlployed, farmer effective Janu- L- ' .' - ' A .1- arl, 1, 1955.. However, rrfatm owhei Vhd jsented out his crop iimiibr the usual share-cropping or cash rent basis could not ta clu4e his share of the crops or rent received under such an ar rangement; 1 This was ' true throughout-. 1955. , (The share farmer or , tenant's share ef the crop was subject to. the law as self-employment income). I 2. Beginning with W' the law ' was modified ' as to the land-owner's share of tha crop The '1956 law provides that his share of the crop or the pro ) fmm th fron will be cre ditable for social security pur poses provided hit: agreement wi'h the renter is such that the1 i., Lntimar matt-rinllv nartlcl- 1 . J . ml t i in tne production or miwt vbf-: m . vny nu iwu j nt of the production of thejNixon of Winfall were dinner ! 's means that the land-' uest on Friday of Mr, and Mrs. set take part m t the "on over and above ould, normally do tor '"vestment, Factors '.ate material par- i the , owner's part " vsieal workj con vie; iTrpections .. t pa- f -"in 'pment, i.2 borrowing by small business - A lfkdbwh of these loans by classification showed that about holf the number of loans to small business during the; four-year Vtiod were in amounts of under V proportion was somewnat aoove, ou per cent m 1953 and a little bit under in 1956. The remaining number of the life company loans to small business was about evenly: di vided as betewen those from $50,000 to $100,000 and those be tween $100,000 and $250,000, each representing approximately a uartei' of "the number for the BrouP wno"r The survey carried, tabulations showing the broad sweep of life insurance lending t6 business and industry, indicative of its- con tribution to the economic life of the nation. Manufacturing com panies led the number of, bor rowers from the life companies by means of the sale of bonds, representing more than 40 per cent, of the number of life comi pany authorizations in. this cate gory in the 1953-56 period. Retail Borrowers Prominent . Retail trade establishments, in cluding shopping centers, were far in the lead in the number of loan authorizations in the classi fication of mortgage loans to business and industry. Other categories that were prominent in this group were general office buildings, manufacturing plants, and hotels, garages and theaters. About eight times as many loans were made to 'business and in dustry through mortgages as through investments in business and industrial bonds. While mortgage loans to farm business were excluded, the sur vey carried a tabulation showing an average of 30,000 farm mort gage loans a year made by the life companies in the 1953-56 pe riod. The annual amount of such loans ; authorized ranged from just under $400 millions to above $500 millions in the period, but the average farm mortgage loan was small and came to only $17,000 in 1956. Life companies together hold about a quarter of the$10 billion farm mortgage debt. .. . m The survey also excluded resi dential mortgages, one of the big gest areas for investment of life insurance funds. The life com-l panies have made nearly $35 bil- lions of home mortgage loans in the post-World War II period, the majority FHA insured or VA guaranteed. Many residential mortgage loans are in fact made to ebtain funds for business use. ant's share of the cro remains covered by the law). 3.' It is most important for all farmers to keep a copy of the tax return that is filed with the District Director of Internal Revenue. (Both Forms 1040 and 1040F). If , the farmers or a member of his family (in case of the farmer's death) is to file for social security benefits, a copy of his last tax return will speed up. the processing of the claim. . , . ,4. The social security account number must be included on the tear-off section at the bottom of Form 1040F if the farmer is to receive credit ; for his v earnings on his social security accounts. - 8. The tar return and self employment tax are to be filed with the District Director of In ternal Revenue. ctiapanokeIjews Mr. and Mrs. Eugene Boyce and Mt and Mrs. Mather Hurdle and daughter of Elizabeth City spent New . Year's day with Mr. and Mrs. M. 9. Boyce. ' ' Leon Elliott returned to Wash ington, D. C-i this, week after spending some time with his par ents, Mr. and Mrs. W. H, Elliott Mr.' Bailey from New London, Conn., who is visiting his daugh , . - ' ml jJjeroy Nixon. Mr. and Mrs. M. C. Boyce. Jr., and Jesse Boyce spent Monday in Norfolk. Tim Trueblood and Henry Own. ley are both patients in the Albe marle Hospital. Miss Ophelia Mansfield and, Mfea Eu!a Harrell both graduates ) of rerquimarj) H'h School r- IPitMfl life ...... mmmmmmmm, , mm I rv RJTA HAYWORTH assails ROBERT , Columbia's OncraaScope a& color ceived their caps at a ceremony on January 3, at the nurses' home in Elizabeth City after having completed their first four months of training at the . Albemarle School of Practical Nursing. . Miss Mansfield and Miss Harrell graduated from high, school in Jane and entered training in Sep tember.' They will graduate in September and' after taking a State Board Examination will be a licensed practical nurse. - They are the daugh ters' of Mr. and Mrs. C. C, Mansfield, Jr.; of Route 1, and Mr. and Mrs. Joe Harrell of Edenton. t SUNDAY SCHOOL LESSON enthusiasm of that event is still kindling fires in the hearts of men who go back and feel the sensa tion which swept through the up per room. (These comments are based on international Uniform Lesson Outlines, copyrighted by the In ternational Council of Relioious Education, U.S.A., and used by permission). CARD OF THANKS I want to express my sincere thanks to my many friends for the prayers, lovely cards, let ters, gifts and visit while I was a patient in the hospital and since my return home. Your thoughtfulness will always be remembered. MOODY MATTHEWS, SR CARD OF THANKS I again wish to thank my friends for the beautiful flowers, cards and gifts sent to me and visits made, prayers offered, tele phone calls and all other acts of kindness shown me while I was a patient in the Albemarle Hosni- tal and since mv return home. SHELTON M. LONG. CARD OF THANKS To our many friends and neieh bors. we wish to acknowledpe our sincere thanks and anbreciation for every act of kindness, cards, visits, prsver and words of svm onthv. during the recent illness and denh of our husband and fa ther. You will be remembered always. Mrs. Clarence B. White And Children ' Commissioners' Proceeding's ........ January 6, 1958 At a regular meeting of the Board of County Commissioners of the County of Perquimans, North Carolina, held on the first Monday in January, January 6, 1958, at 10 o'clock A.- M., at its regular meeting place; in the Court House in Hertford, Per quimans County, N. C. ' Present A. T. Lane, presiding, and Wm. C. Chappell, E. B. Hollowell, R. L. Spivey and Warner Madre. - Good Reading for the Whole Family Hews . Facts Fc5 Features Tht ChrllNan Scitne Monitor : Or Norway St, Bnton 15, Mojk Sond your ntwspaptr for tho tlmo dtftfMaV tnctowd find my chtk or monty ordtr. t year $18 ? , month J9 Q . months K50 MITCHUM with choice language in film, "FIRE DOWN BELOW" Reports received from Agricul ture Extension Service and Wel fare Departments. On motion duly made, seconded and passed, the Board approved to amend poor fund budget, set ting up $100 for Boarding Home Care. On motion duly made, seconded and passed, the Board approved beer licep.se application submitted by Carson Banks. On motion duly made, second ed and passed, the Board author ized $200 refund to Maryland C. Boyce, Jr., for error in taxes. On motion the Board granted the Norfolk & Carolina Telephone & Telegraph Company permission to install public telephone on Court House lawn. On motion the Board instruct ed County Attorney S. M. Whed bee to contact Chief Justice ' J. Wallace Winborne, relative to ob taining a Special Term of Super ior Court for the trial of Civil Cases in March, 1958. The Treasurer was ordered to pay the following bills: Eastern Office Equipment Co., $21.23; Winslow Oil Co., $156.77; Dr. C. A. Davenport, $25.00; The Michie Co., $7.50; Chowan Hos LIQUID OR TABLETS BOCS MOKE TO STOP COLDS MISERIES BECAUSI IT HAS MORE I V0U CAN RELY ON 668 NO Beginning January first, all Tax Listers of Perquimans County, North Carolina, will sit at the following places and on the dates mentioned below for the purpose of listing your PROPERTY TAXES for the year 1958: List In January and Save the Penalty Belvidere Township MRS. T. C. PERRY. List Taker Jan. 8 to' 4 P. M ......;,.....Lassell Chappell Store, Chapel Hill Jan. 14, 16 to 4 P. M..'. .....R. M. Baker Store, Whiteston All Other. Days During January at Home. Bethel Township . JULIAN LONG, List Taker Jan. 4, 18, 25 ... J. W. Gatlini Store. Bethel Jan. 11 :. Court House, Hertford Jan. 15, 22, 29.... .....J. W. Gatling Store, at Night All Other Days During January at Home. Hertford Township PERCY ROGERSON, List Taker Jan. 2, 3, 4 .....Court House, Hertford Jan. 8. 10. 11 Court House, Hertford Jan. 13, 15, 17. 18, 20 .....Court House, Hertford Jan. 22 through 31 Court House, Hertford New Hope Township CARSON SPIVEY. List Taker Jan. 4. 11, 18, 25 .....Post Office, New Hope Jan. 15, 22 ..........Turner's Store Jan. 24, 31 New Hope All Other Days During January at Home. Parkville Township MRS. BELLE PROCTOR, List Taker Jan. 4, 10, 11, 17.: ......... ...Fred's Store, Winfall Jan. 18, 24, 25, 31..... ..;.....:..........,.............Fred's Store, Winfall Jan. 14, 21............... .....Towe's Store, Chapanoke All Other Days During January at Home. Sec. 901 (G.S, 105-307) Duty to list; Penalty for failure: , 5 It shall he the duty of every person, firm, or corporation, in whose name any property or polHs to be listed under the terms of this sub-chapter, to list said property or poll with the proper list taker, or supervisor, within the. time allowed by law, on a list setting forth the information required by this sub-chapter. In addition to all other penalties prescribed by law, any person, firm or corporation whose duty it shall be to list any poll or property, real or personal, who willfully fails or refuses to list the same within the time allowed by law, or who removes or conceals property for the purpose of evading taxation, shall be Kuiltv Of a misdemeanor punishable by a fine not to exceed fif ty dollars ($50.00) or imprisonment not to exceed thirty days; nd any person, firm or corporation aiding or abetting the rer moval or concealment of property for the purpose of evading taxation Shall be guiltv of a misdemeanor punishable bv a fine not to exceed fifty dollars ($50.00) or imprisonment not to ex ceed thirty davs. The failure to list shall be -ima facie evi dence that such failure was willful. (1957, c 848). , JULIAN a POWELL.' Tax Supervisor ' PERQUIMANS COUNTY, NORTH CAROLINA r pital, Inc., ,$1,245.91; Albemarle Hospital, Inc.", $109.65; C. Edgar White, $11.86; Gravely Sanator ium, $18.00; Eastern North Caro lina Sanatorium, $18.00; Mitchen ers Pharmacy, $9,50; Duke Hos pital, $6.24; Dr. Edward G. Bond, $15.00; Dr. T. P. Brinn, $29.75; The Perquimans Weekly, $14.00; Hertford Hardware & Supply Co., $19.54;, J. C. Blanchard & Co. $17.57; Darden Department Store, $38.61; Pitt Hardware Co., $7.91; Remington Rand, $77.13; Owen G. Dunn Co., $36.98; Mitchell Print ing Co., $3.37; Albemarle Awrfing Co., $4.05; Julian C. Powell, $36.25; Maryland C. Boyce, Jr., $2.00; Robert A. White, $12.00; J. K. White, $22.90; Sam Hour mouzis, $55.25; R. M. Thompson, $20.15. No further business the Board adjourned. . A. T. LANE, Chairman. Julian C. Powell, Clerk To Board. Classified - Lecals FOR PROMPT RADIO AND TV repair call Louis Tarkington. Phone 4361; day or night ser vice. . JanlO.17,24 FOR SALE 1952 CROSLEY RE frigerator, $100; Duo-Therm oil heater, $50. Contact Percy L. Winslow, Route 1, Belvklere. , JanlO The Virginia Hampshire Swine Breeders' Association will hold their twenty-eighth Semi-annual Sale Tuesday, January 21, 1958, at 1 P. M., at Bob Holland's Sale Barn, located 3V2 miles South of Suffolk, Va., on U. S. Route 13. Housework Easy Without Nagging Backache Nagging backache, headache, or muscular Aches and pains may come on with over-exertion, emotional upsets or day to day stress and strain. And folks who eat and drink unwisely sometimes suffer mild bladder Irritation .with that restless, uncomfortable feeling. If you are miserable and worn out because of these discomforts, Doan's Pills often help by their pain relieving action, by their sooth ing effect to ease bladder irritation, and by their mild diuretic action through the kiimeyB tending to increase the output of the 15 miles of kidney tubes. So if nagging backache makes you feel dragged-out, miserable ... with restless, sleep, less nighty . . . don't wait . . . try Doan's 1'illB . . , get the same happy relief millions have en joyed for over 60 years. Get Doan's Fills today! Doan's Pills . Ad No. 117-41 linn GE An offering of 36 bred gilts and 10 boars will be sold, featuring individuals from P. R. and Cer tified litters that have rated well at the fairs in the East, with blood lines-of the best. A show of the consigned ani mals will be held before lunch. Show' placings will serve as sale order. Come early and see the animals as they are driven be fore the Judge, Entire offerings Bangs tested and Cholera treated. For cata log, write Carl W. Grove, Sec retary and Treasurer, Waynes boio, Va. jan 10,17 FOR SALE COUNTRY LARD. See L- P. Chappell, Route 2, Bc-lvidere, N. C. Jan. 3,10,17,24 WANTED AT ONCE RAW leigh Dealer in Perquimans County. Write Rawleigh's, Dept. NCA-320-R, Richmond, Va. Jan3,10,17,24,31 NOTICE OF ADMINISTRATION Having qualified as Executrix of the estate of J. E. Twine, de ceased, late of Perquimans Coun ty, North Carolina, this is to no tify all persons having claims against the estate of said deceas Mr.Farmer: we have CERTIFIED SEED BEANS for Immediate Delivery CALL US NOW FOR YOUR NEEDS We Have For Sale Guaranteed No. 2 Corn For Feed J. F. Hollowell & Son PHOXE 2S41 WINFALL, N. C. RICH AS SATS U RUBBER C M. ATHIt PAINT CO Hertford Kardware & Supply Co. Phone 3431 Hertford, N. C' . ed to, exhibit them to the under signed at Belvidere, N. C, on or before the 27th day of December, 1058, or this notice will be plead ed in bar of their recovery. All persons indebted to said estate will please make immediate pay ment. This 27th day of December, 1957. MRS. LUCILLE S. TWINE, Executrix of J. E. Twine Jan3, 10,1 7,24,3 l,Feb7 North Carolina, Perquimans Countv. NOTICE The undersigned having quali fied as admanistratrix cum testa mento annexo of the estate of Ad diline Raper Coffield, late of Per quimans County, this is to notify all persons having claims against said estate to present them to,the undersigned at Lowland, North Carolina, or to her attorney, Rob ert G. Bowers, Box 228, Bayboro, North Carolina, duly verified, on or before the 27th day of Decem ber, 1958, or this notice will be pleaded in bar of their recovery. All persons indebted to the said estate will please make immedi ate oayment to the undersigned. This the 27lh day of December, 1957. RUBY S. SADLER, Administratrix e t a. Lowland. North Carolina Robert G. Bowers, Attornoy-at-Law Jan3,l 0,1 7,24,31. Feb7 KUISdcKIZeI I ALTO. 30, MD. PAGE FIVE SECTION Off NOTICE OF ADMINISTRATION Having qualified as Executors of the estate of T. J. Baas, de ceased, late of Perquimans Coun ty, North Carolina, this is to no. tify all persons having claims against the estate of said deceas ed to exhibit them to the under signed at 219 West Queen Street, Edenton, N. C, on or before the 29th day of November, 1958, or this notice will be pleaded in bar of their recovery. , All persons in debted to said estate will please make immediate payment. This 29th day of November, 1957. 1 Mrs. Lillian W. Lcary and John B. Webb, Jr., Executors of T. J. Bass DeeG,13,2(),27,Jan3,10 AUTO REPAIR SERVICE PERMAN ENT Also Used Parts For All Makes and MrxJels SPECIAL brakes Relined (MOST CARS) $14.95 Carlton R. Nixon GARAGE WINKALL, N. C. Phone 4950 0 .HP"!. gai.JL FOR WAILS AND WOODWORK WASHABLE, SCRuBBaMI Rubber tough ... not onr guaranteed washable but scrubbable. ECONOMICAL Save time . . . save labor. Finish walls, ceilings, wood vork with this wonderfully different rubberized paint, QUICK DRYING Paint your rooms . . vs them the same day. Lux tiry-Satin dries in 30 min Dtes. DURABLE Dirt, grime, liril?, 'crayon greasy soot just don't ad here to luxury-Satin's skin like surface.
The Perquimans Weekly (Hertford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 10, 1958, edition 1
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