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Bill To Guarantee Bank Deposits Approved
BILLION DOLLAR FUND WOULD BE APPROPRIATED This Would Strengthen Banking Foundations, House ,Committee Be lieves. Creation of $1,000,000,000 in re sources to guarantee bank deposits has been indorsed by the house banking committee. Unanimously it approved a bill by Chairman Steagall to establish a huge guarantee pool, after first providing for state bank participation. The guarantee fund, to be admin istered by a special government board empowered to liquidate closed banks, would include a $500,000,000 loan limit from the Reconstruction Finance corporation. The remainder of the fund would be obtained by taking $150,000,000 from the surplus of federal reserve banks; all the franchise tax paid into the treasury by reserve banks, esti mated at $167,000,000; $100,000,000 in assessments on federal reserve mem bers banks; double assessments on state banks desiring participation, estimated to bring in $1000,000,000, and au thority for a $100,000,000 annual as sessment on participating banks. The bill also fixes $50,000 capital and a paid in surplus of 10 per cent as the minimum requirement for obtain ing national bank charters and pro vides that stockholders of national banks hereafter organized shall be re lieved of double liability. Interest paid by member banks of the federal reserve system on deposits would be limited to not over 4 per cent. Steagall explained this would prevent weak banks from using high rates to attract funds. BLACKWELDER AND STRIBLING FIGHT TO DRAW Baby Stribling and Lonnie Black welder fought to a draw in their 10 round event held here the past Friday night. All during the fight fans were kept on their toes waiting for the knockout punch that never came. Lonnie Blackwelder, formerly of Salisbury, but now located in Char lotte, was the favorite all through the fight and he furnished the fans plen ty of excitement by his fast stepping and willingness to mix it up '/ith the Georgia lad. Stribling came from his corner ready to display his usual bag of tricks and was successful in as much as he forced Blackwelder to re peatedly miss well timed blows. He seemed content to let Blackwelder carry the fight, and the once local lad needed no second invitation and wad ed into Stribling at every opportunity. Apparently, Stribling had no punch and was content to keep Blackweld er guessing where he would be next. The sixth round was the fastest in the entire fight and it was in that round that the highly tooted Baby managed to land a solid blow on the face of Blackwelder. Blackwelder was not to be outdone and he returned sev eral clean blows to the face of his op ponent. Neither fighter was ever close to a knockout, and the popular senti ment of the crowd swung to Black welder as the fight progressed. An unusual feature of the card was that it ended with only one decision, this going to Tiger Flowers of Bur lington, who defeated Black Cat Lula in their six round scrap. One of the biggest crowds to be present at a bout in a long time was on hand to witness the fights and fans were well pleased with the card from preliminaries to main events. New Star of "Under Eighteen” Typifies Every Modern Girl Marian Marsh, who plays her first starring role in "Under Eighteen” the Warner Bros, production which comes to the Victory Theatre Thursday, April 28, has succeeded in making the role of the little poor girl who yearns for the life of the rich—as glimpsed by her in the modiste shop where she works—a character so wistfully ap pealing that it might be any young girl in the world. "Under Eighteen” portrays the in most longing of all girls who are searching for the Prince Charming. Mr. H- became worse and it was discovered that he was suffering from members of his family.—South ern Lumberman, G. O. P. Name Ticket For State Races V __ CITY and COUNTY 3VEWS BRIEFS 1 HOLD GRADUATING EXERCISES The Salisbury Business College, lo cated on East Fisher street, over the Salisbury Laundry, held graduation ex ercises the past Friday, at which time 12 students received their diplomas. Mr. J. Allen Dunn was the speaker for the occasion and he took as his theme the qualifications for a success ful stenographer. A large number of parents and friends were present for the exercises. JEWELERS TO MEET HERE The annual convention of the N. C. Retail Jewelers association will be held here Monday and Tuesday, with the Yadkin hotel as headquarters. Morning sessions of the meeting will be held at 10 o’clock, and the afternoon meetings will begin at 2 o’clock. In addition to business meetings sev eral special- entertainments have been planned for the occasion. On Monday night a dinner dance will be held, with Mrs. R. M. West furnishing spe cialties. Alton Merrit will have charge of the dance music. On Monday af ternoon, ladies attending the conven tion will be honored at a tea at the home of Mrs. Omwake, wife of the new president of Catawba college. W. E. Lineback of Winston-Salem, president of the organization, will pre side over the meeting, while William G. Frazier, of Durham, secretary treasurer, will lead several discussions. C. V. Roberts is chairman of the lo cal committee on arrangements. Nor man Ingle is in charge of the registra tion. An interesting program for the vis itors has been arranged and a large at tendance is .expected. MRS. T. C. FISHER Mrs. T. C. Fisher, aged 45, died early Tuesday morning at the Salis bury hospital, following a brief ill ness. Mrs. Fisher became ill while sing ing at the Passion Play which was held here several weeks ago; her condition rapidly grew worse and she was tak en to the Salisbury hospital, where it was found necessary to perform an op eration. Her condition was regarded as hopeful and she was able to sit up in bed Monday, and was reported as resting well through the night, but when the 5:30 visit was made it re vealed fhat she was dead. Surviving Mrs. Fisher is her hus band, head of the Fisher-Thompson hardware company of this city, and two sons, Thomas, Jr., and Ellis Wood, aged 12, also the parents, Mr. and Mrs. W. F. Ellis, and several brothers and sisters. The funeral took place from the home, 301 West Marsh street, with the Rev. A. L. Stanford of the First Methodist church of this city officiat ing. Interment was in the Chestnut Hill cemetery. MRS. E. B. NEAVE Mrs. Caroline McNeely Neave, aged 78, died at her home, 221 South Main street, early Sunday morning, death being due to an illness extending over a period of several years. The funeral took place from St. Luke’s Episcopal church Monday af ternoon, the Rev. M. H. Milne offi ciating. Interment was in the Chest nut Hill cemetery. Paulbearers were: W. H. Ragland, E. C. Gregory, Hayden Clement, Dr. Mason Brawley, Henry W. Davis, J. E. Ramsey, J. D. Brown, W. H. Craw ford and E. H. Woodson. Mrs. Neave was well known and re spected in this vicinity. She was the daughter of the late Capt. William G. McNeely and Louise Marvin McNeely, this being one of the oldest and most highly respected families in this sec tion of the state. . Surviving Mrs. Neave are one son and daughter, Edward B. Neave and Miss Louise Neave, both of this city. RENAMED PRESIDENT At the 14th semi-annual meeting of the Central District of Luther Leagues held at St. James Lutheran church, Rockwell, Miss Lena Brown was again named to head the organi zation for the coming year. Other officers of the organization named at this meeting are: Jacob Yost, of St. Mark’s church, vice president, and Miss Rose Brown, of Emmanuel church, secretary-■treasurer. The next convention of the league will be held with the Bethany group in Kannapolis. NEW RECRUITING OFFICER Chief L. B. Rhinehart, of Statesville, was recently instructed to close the recruiting station there and assume charge of the local station here. He will replace Jesse F. Oddle, who has been in charge of the local station here for the past year. Mr. Oddle has been transferred to Spartanburg, S. C., where he will assume the duties of petty-officer-in-charge of the station there. BARKER RENAMED AS ESCORT HEAD At an organization meeting of the Samuel C. Hart memorial flag escort, held in the legion club rooms Monday night, Max L. Barker, was re-elected to head the escort for another year. Charles Shaver and Kirby Cress were chosen as custodians of property, Nor man Ingle was named secretary and C. V. Roberts was chosen to head the Executive committee, succeeding Bryce P. Beard, who resigned this post when he entered the race for state command sr. WON CHECKER TITLE At the quarterly checker tourna ment held in the courthouse the past Thursday night, H. C. Hubbard won the title, and is now the possessor of the medal, which has been held by Paul Heilig for the past three months. During the play, Hubbard received three games and a draw, the fourth jame being waived by mutual con sent. During the past two years Hubbard las won the medal three times in quar terly tournaments. VISITS LOCAL JAIL Captain Dan McDonald, of Char otte, superintendent of the Piedmont Prison Mission, visited the county jail ind the state convict camp, located an the old Concord road, the past Fri day. The purpose of Captain McDonald’s visit was to organize a Prisoners Hon or League in the Rowan institutions. He is credited as being the only man in the state engaged in such work and he has many recommendations from sheriffs and prison officials through out the state as well as other places. His work is supported by free will offerings. MAHALEY RESIGNS R. Lee Mahaley, city manager of Salisbury since June 5, 1931, tendered his resignation to the city council at their meeting the past Thursday night. The resignation was accepted by the council and will become effective May 1. Prior to his becoming city manager, Mr. Mahaley was manager of the Dia mond cotton mills located here, and had served on the board as alderman from the North Ward. In 1929 he was a candidate for election to the city council, but was defeated. In the 1931 elections he was fifth high man in the primaries, but in the election he ran sixth. A short time later he was nam ed city manager and has served the city in that capacity since 1931. No successor has been appointed. MESSICK RENAMED SCHOOL HEAD At a recent meeting of the school board of Spencer, Supt. J. D. Messick was renamed to head the city schools for the fourth time. The schools of Spencer are round ing out the most successful term in 3 0 years, it is reported. The average enrollment is around 1,000 pupils, of which 330 are in high school. P. O. RECEIPTS SHOW GAIN For the quarter ending March 1, 1932, the Salisbury postoffice receipts showed a gain of $1,953.02, accord ing to the figures given out by the Salisbury Chamber of Commerce, which keeps a record of such data for interested inquirers. HEADS BANKERS H. P. Brandis, cashier of the First National Bank of this city, was elect :d chairman of Group B Bankers at a meeting held in Statesville the past week. The principal address of the occa sion was made by W. G. Gaston of Gastonia. The next annual meeting of the group will be held in Lenoir, in April of next year. FINALS BEGIN SUNDAY Finals at the Woodleaf school will begin Sunday, April 24.. A full week of interesting exercises and programs has been planned. Dr. J. E. Abernathy, pastor of the First Methodist church of Lexington will deliver the baccalaureate sermon to the class of 25 graduates Sunday afternoon at 3 o’clock. The annual high school play will be given on Wednesday night at 8 o’clock; while on Thursday night the class day exercises by members of the senior class will be given. The graduaton exercises will be held Friday night, April 29, with Clyde Erwin, of Rutherfordton, delivering the address. The public is cordially invited and urged to Attend these exercises. LAWRENCE. BOOSTED The Salisbury-Spencer Central La bor Union called a special meeting the past Monday night for the purpose of forming a county organization to boost R. R. Lawrence for state commander of labor. Max L. Kahn, of Charlotte, was tne principal speaker and he delivered a fitting address to those interested in the labor movement. MUTUAL HELP ASSOCIATION HONORS ITS DEAD The Rowan Cotton Mill Mutual Help association held its annual me morial service in the R. G. Kizer school house Sunday afternoon at 3 o’clock in honor of the 30 members who have died since the organization has been formed. H. T. Davis presided, and unaer his direction a fitting service to the de parted members was held. LIVINGSTONE DORMITORY DAMAGED The girl’s dormitory of Livingstone college was damaged to the extent of $1,000 by fire of an undetermined origin late Sunday afternoon. The fire was discovered in on: of the lavoratory rooms on the upper floor and did damage to several rooms on that floor and adjoining floors. Firemen laid several lines of hose and battled the fire for about two hours. The fire, was a rather stubborn one as it had gained headway between the upper ceiling and the roof. The loss is understood to be fully covered by insurance. YOUTH INJURED Flake Sechler, aged 14, set out to see the Heath monoplane which had made a forced landing in the clover field near the China Grove cotton mill Saturday; however, he became too in vested in the prospect of seeing the plane and neglected to watch his step. As a result he was struck by a car driven by an unknown person. He was rushed to the Salisbury hos pital and an examination revealed that most of his hurts consisted mostly of cuts and bruises. Reports from the in stitution during the week indicate that he is resting fine. SINGERS TO MEET MAY 29 Announcement has been made that the Rowan Singers Convention will be held on the fifth Sunday in May at the Mount Ulla school house. Each church in the county is asked to send singers to participate in the went. The program will begin at 10:30 o’clock in the morning, and a picnic dinner will be served on the school grounds. Davidson, Iredell and Guilford counties have already signified their intention to attend the Rowan con vention. Anyone desiring - information can obtain same by getting in touch with J. T. Broadway or D. L. Hendrix, the address of each is Salisbury, route S. MOVE OFFICES The offices of the Carolina Motor club and the Ramsey Realty and In surance association have been moved from the frame building on the corner of Main and Liberty streets to the Ford hotel building on Main street. NEW PARKING REGULATION By a recent order of the police de partment, parking in front of the postoffice is limited to 5 minutes. The new regulation was established in or der that at all times there may be room for patrons to park their cars while they go in to get their mail. SCHOOL CHORAL HERE SATURDAY The first annual high school choral festival, with representatives from surrounding counties will be held here Saturday at Catawba college. Prof. Arthur Rich is head of the committee in charge and extensive preparations are being made for the event. The choral will start at 8:30 in the morn ing. At 10:30 the program of vocal and instrumental solos, duets, quar tets and small ensembles will be g:ven. Each school will be allowed 5 min utes in this program to be used as the director of the school sees fit. In ad dition to this period, each school will present a special number later. The event is the first of its type ever held at Catawba and much in terest is being manifested in its suc cess. More than 500 students are ex pected here for the event as a num ber of the schools have been at work of the required numbers for some weeks. DR. SMITH SPEAKS Dr. Chas. J. Smith, president of Roanoke College, Salem, Va., spoke to the congregation of St. John’s Luther an church Sunday morning. Dr. Smith took as his theme "The Loss of Faith.” Dr. Smith was presented to the con gregation by the pastor, Dr. M. L. Stirewalt. Dr. Smith delivered a most forceful address and earnestly urged his hearers to return to the faith of their fathers. McCORKLE RESIGNS James M. McCorkle, member of the city council since 1927, tendered his resignation to Mayor B. V. Hedrick recently. About two months ago Mr. Mc Corkle took over the receivership of the defunct Cumberland National bank and his duties as receiver require that he be out of the city practically all the time. 'No action has been taken in the matter of appointing a successor to Mr. McCorkle; however, this matter will likely come before the council at their meeting today. MYSTERY PLAY "The Mystery of the Third Gable,” a mystery drama in 3 acts, will be giv en by the Spencer High School Junior Class in the school auditorium, Friday evening, April 22, at 8 o’clock. The play, written by Lindsey Bar bee, has a splendid plot and is an un usually fine mystery for presentation by an amateur group. It is crowded with thrills from the first rising of the curtain to the end. The play is under direction of Miss Myrtle Brock and Mrs. Eula King of the high school faculty. The admis sion will be ten and twenty-five cents. ATTEMPTS SUICIDE J. S. Jennings, proprietor of the furniture store located at 120 E. Innes street, attempted suicide about noon Wednesday. Mr. Jennings went to an upstairs room over the furniture store and in flicted serious wounds about the left wrist with a pocket knife. An em ploye of the store came in and inquir ed for Mr. Jennings and when told that he was up stairs he went up to see him. Mr. Jennings was found standing near a baby crib. The wound about his wrist was bleeding profously. He was immediately rushed to the Salisbury hospital and given treatment. It is believed that he will recover with no ill effect to his hand. A report from the hospital Thursday afternoon indicated that Mr. Jennings was get ting along fine and would continue to improve unless an infection set in. EHRINGHAUS TO SPEAK J. C. B. Ehringhaus, democratic candidate for governor of North Car olina, will speak in the Spencer audi torium Saturday night. At this time Mr. Ehringhaus will make public his views on education to citizens of the railroad city. Mr. Ehringhaus will be introduced by Clyde E. Gooch, of Salisbury, and during his stay in Spencer will be en tertained at the home of Prof, and Mrs. J. D. Messick. DIAMOND COTTON MILLS PURCHASED The Diamond Cotton Mills, maker of carded yarns, which have been idle since January of this year was recent ly purchased by the Rowan Cotton Mills of this city. Under the new management work will be available for more than 100 workers. New machinery is being ordered, and it is expected to have the plant in full operation in about 60 days. FEDERAL COURT IN SESSION Federal court has been in session dur ing the past week and numerous cases of violation of the prohibition law have been tried. Judge Johnson J. Hayes, of Greens boro, is presiding over the Salisbury term of court. Court adjourned Thurs day and will convene again Saturday. PICK FRAZIER TO MAKE RACE FOR GOVERNOR Greensboro Attorney Will Lead Campaign; Jake F. Newell To Run For XJ. S. Senate. The North Carolina republican con vention chose the following to make the race for state offices: GOVERNOR: Clifford Frazier of Greensboro. UNITED STATES SENATE: Jake F. Newell of Charlotte. LIEUTENANT GOVERNOR: Brownlow Jackson of Hendersonville. SECRETARY OF STATE: C. R. Grady of Conover. AUDITOR: S. S. Jennings of Len oir. TREASURER: P. H. Gwyn of Leaksville. SUPERINTENDENT OF PUBLIC INSTRUCTION: Prof. Holland Hol ton of Duke university. ATTORNEY GENERAL: H. S. Williams of Concord. COMMISSIONER OF AGRICUL TURE: John M. Phelps of Creswell. INSURANCE COMMISSIONER: William H. Grogan of Brevard. CORPORATION COMMISSION ER: Virge McClure of Haywood county. PRESIDENTIAL ELECTORS-AT LARGE: Stuart W. Cramer of Char lotte and Walter Chambers of Marion. BANKERS WILL MEET MAY 5-6 State Association To Hold Session At Vine hurst; To Discuss State Problems. Salisbury bankers have received in vitations to the annual convention of the North Carolina Bankers’ associa tion, to be held in Pinehurst May 5 and 6. Invitations were mailed out by Paul P. Brown of Raleigh, secretary of the association. The convention will dealy largely with banking conditions in this state and speakers will be drawn from North Carolina banking circles, ac cording to the president, Robert F. Hanes of Winston-Salem, who was in Charlotte recently. Previous conventions have had as their speakers out-of-state financial leaders, but officials this year prefer red to use North Carolina speakers in order that the discussions might be around problems of local nature. Reports are expected to be made on the progress made- following recom mendations made by the convention in 1931 that interest rates on time de posits be lowered. Union Depot Stars Douglas Fairbanks, Jr. In a season of great pictures "Union Depot,” the First National produc tion which comes to the Victory The atre Monday and Tuesday, April 25 26, bulks as one of the big ones. It is big in every way, in story, in cast and in setting. "Union Depot” which has Douglas Fairbanks, Jr., and Joan Blondell at the head of a cast of 3,090, is the story of a group of people thrown to gether by circumstances in one of the great railroad terminals of the coun try. The drama covers only four hours of a day, but it is packed with thrill and romance, one of the fastest acton stories brought to the theatre in many seasons. POLITICS Marie Dressier comes to Victory Theatre Wednesday, April 27th, in Politics. Miss Dressier is supported in her campaign for laughs by the veteran campaigner, Polly Moran. ST. PAULS ITEMS Mr. and Mrs. Marvin Cruse wish to announce the birth of a daughter. Mr. and Mrs. S. H. Goodman visit ed Mr. and Mrs. W. T. Goodman Sun day, April 17. Mr. Lawson Safrit is on the sick list at this writing; we all hope he will soon be better. Mr. and Mrs. R. L. Goodman, Mrs. Mary I. Goodman visited Mr. and Mrs. George Goodman Sunday, April 17 th.