The herald and news. (Newberry S.C.) 1903-1937, March 12, 1920, Page SEVEN, Image 7
Charter No. 6994.
Report
PEOPLE
at Prosperity, in the State
On March 1, 1920.
L
1. a Loans and discounts, ir
(except those shown in 1
2. Overdrafts, unsecured...
5- U. S. Government securit
a Deposited to secure ci
par value)
f Owned and unpledged.,
h War Savings Certificat
actully owned
Total U. S. Government
* 8. Stock of federal reserve
tion)
9. Value of banking house,
10. Furniture and fixtures...
11. Real estate owned other 1
12. Lawful reserve with Fed<
v 14. Cash in vault and net am
\ 17. Checks on other banks in
porting bank (other tha
Total of items 13, 14,
19. Redemption fund with U.
Treasurer
Total
to
22. Capital stcok paid in. i.
23. Surplus fund
24. a Undivided profits
b. Less current expenses, i
28. Circulating notes outstan
33. Cashier's checks on own
Total of items 30, 31, 32
34. Individual deposits subjec
38. Dividends unpaid
Total of demand deposits
deposits) Bubject to Reserv
37, 38, and 39
43. Other time deposits
Total of time deposits sub,
; 40, 41, 42, and 43
) Total
*Of the total loans and
" *
interest and discount was ui
by law (Sec. 5197, Rev. Stat
charge not to exceed 50 cents
loans was none.
State of South Carolina, Coun
I, L. W. Bedenbaugh, C:
swear that the above stateme
belief.
Subscribed an^d sworn to b<
Correct?Attest:v
J. A. C. Kibler,
R. T. Pug*i,
T. A. Dosninick,
Directors.
4
INCOME TAX LAW GIVEN
BLOW BY SUPREME C
Decision Nullifies Provision! <
Law and Will Ivnohrc Gr
Loss in Reteave.
Washington, March 8.?C<
tion dividends, distributed i
form of stock, do not constitu
come," and consequently are n
ject to federal income taxe;
Supreme Court decided today
to 4 decision.
Provisions of the 1916 fede
come tax law levying taxes oi
dividends were declared unco
tional. The decision also n
similar provisions of the prese
and "A'ill involve great loss ir
nues to the government in
collections, and also refunds o:
already collected. Large ti]
interests likewise will be affect
numerous stock dividends of
x ^
ous proportions are expecteu
declared soon.
"Paper Certificates."
In the majority decision, r<
Justice Pitney,, Chief Justice
ant! Justices McKenna, Van I
ter and McReynolds concurrei
the four dissenting members
court Justice Holmes read a
opinion, in which he was joii
Justice Day, and Justice Bi
delivered a lengthy opinion, in
Justice Cfcirk concurred. In \
that stock distributions are no
dends on account of no separal
corporate assets being involve!
'Lice Pitney, in behalf of the rc>a
declared that stock shares "are
ing except paper certificates"
dietribr^sed .-assets, are not rt
profits and, therefore, tot taxa}
The attempt of congress in 1
coma law to tax stock disjrib
the majority decided to be un<
tutional and not permitted by tl
-teenth, or income tax, amendm
the federal constitution. Stocl
dends, the majority held, may b
ed only after stockholders i
upon them by the sale, in whic]
the government may levy i]
taxes on such profits.
Says Dividends Are "Incomi
All four dissenting Justices
tended that Congress had pov*
tax stock dividends, holding thai
dividends are "income" the ?ai
if in cash. The sixteenth amend
the minority declared, is
enough i> Justify tax.
Justices Branded and Clark
Reserve District No. 5.
of Condition of The
S NATIONAL BANK
i
of South Carolina, at the Close of Business
Resources.
tcludmg rediscounts,
5 and c) . $388,338.5<?
449.27
,ies owned:
rculation (U. S. bonds
$ 6,250.00
65,000.00
es and Thrift Stamps
834.00
securities 72,084.00
bank (50 per cent, of subscrip
1,200.00
owned and unincumbered.... 1,639.61
* 1,400.00
than banking house : 7,500.00
?ral reserve bank 45,154.44
ounts due from national banks.... 185,424.34
the same city or town as ren
Item 16) 744.75
15, 16, and 17 .....183,169.09
S. Treasurer and due from U. S.
% 312.50
$ <.<* I
Liabi litie*.
. $ 25*000.00
20,000.00
14,367.64
nterest and taxes paid 1,123.84 13,243.80
ding\ I. i 6,250.00
bank outstanding 2,906.01
and 33 2,906.01
t to ch eck 232,538.93
13.00
- - 4-Uow konlr
I ^OUIQ 1 VtlUtl mtiiB
e, items 34, 35, 36,
232,551.93
404,295.73
ject to
404,295.73
$704,247.47
1 \
discounts shown above, the amount on which
arged at rates in excess of those permitted
;.), exclusive of notes upon which total
> was made, was none. The number of such
ty of Newberry, ss:
- * ? t ??..i
ishier of the above named banK, ao soiemniy
nt is true to the best of my knowledge and
L. W. Bedenbaugh, Cashier,
efore me this 9th day of March, 1920.
E. W. Werts, Notary Public.
jacfcerized the majority view as "narIOURT
j rqw" and "biiarre," and said it
j would permit many corporations to
^ J escape taxation on a large portion of
jwhat "is actually their income." De
-ciarauuu ui uiviucituA, >u ui m
some other medium, the two justices
added,' is "wholly a matter of finanjrpora
cjai management," and, therefore, "if
n the | a dividend paid in securities reprete
"in- sents a distribution of profits, Conot
sub- gress may-, of course, tax it as in
s, the come."
in a 5 The other dissenting . opinion expressed
the belief that the word "inral
in- come" jn the sixteenth amendment
1 stock sh0uld ^ read in a sense most ob nstitu
vjous the common understanding
ullified at the time of its adoption. Most peont
law | pje 0ther than lawyers, it was added,
i rev*- , SUpp0Secj when they voted for it that
future j pUt at rest the question of direct
F taxes ; taxes, including levies on stock divinancial
j (jends.
ed and j
^ne^| "The Love . Kiss."
I If any local theatre-goer likes
! tuneful music, pretty girls, elaborate
!,costumes, wholesale fun, and . deep^
1 blue Urban skies he mustn't fail to
' see "The Love Kiss'* at the opera
house Monday night: She is a
'" ! fascinating creature?this **Lovfe
0 \ e? Kiss" girl?not only beautiful to
Vrief
' I look upon in the gorgeous surroundle
. ? ; ings that Joseph Sheppard has proanyG1f
j vided for her, but she has a bubbling
\\ i'c j that mantles her lips with
to yng ^ ]aUgjjter> ancj light twinkling feet
^ nthat tread tbe boards with a touch as
.1011 o ligfo as \yjnd blown eiderdown. One
3, Jus- j00^ at ^er merry face an(j grouches
jority, vanj?]1 W. Martin Dresents this
_ x,l_
notn* play to an appreciative public.
111 .Un". i Philip Bartholomew has provided the
). ,TT1
j hook unci lyrics, ana caiman, comL^e".
| poser >?? "Sari" has written the music.
foe in- 5 gyrls are remarkably
utions | fo^ching, and their costumes axe
:onsti- ; Qf loveliness. Add to this
le six- | pepful dancing and you have a
ent to ^ouibination that spells success.
z divi- j ^
,e tax" I An English railway is experiment ealize
! jng. a locomotive driven by an
h case internal cbmbustion engine using
ncome heavy fue] oil, which has hauled
: freight trains at a speed of 30 miles
! an hour and passenger trains twice
con" i as rapidly.
rer to ^
fc such Then you never kirk about, housemc
as . hold expenses?
ment.,; Nope.
broad How's that?
T\Tv vr " would tell me to 1 an the i
char- honso.?Louisville Courier-Journal.
i 1
i
THE SWEET POTATO!
A MONEY CROP
i OF IMPORTANCE
' j
( F. H. Jeter, Soil Improvement Com!
mittee. j
I
! '
Entering the field in competition
"with the other mere firmly established
money crops, tJUe southern sweet
! potato is rapidly gaining in popularity
as a field crop of first importance. One
of the greatest drawbacks to its sue\
cessful establishment has been that no
adequate means of curing and storing'
had been advised until the last few
years. With the successful operation
of these potato storage houses, however,
the crop can now be marketed
successfully. It is probably one ol
the most cheaply grown crops of the
South and with proper fertilization,
the least fertile Jands can be made to
produce excellent yields. Statistics
show that it is an ordinary accomplishment
to grow a crop of from 200
to 400 bushels per acre on most any
' Boil of average fertility wiin proper
fertilization;
Possibilities As a Money Crop.
As to the money income from the
crop, it must be said Ithat it compares
most favorably with cotton. Statistics
show that the average return
from an acre of cotton amounts to
67 n^r ncre. while the re
nuvut, ^ ? v*w ? ^vturn3
from an acre of potatoes
amounts to $134.19. One grower In
South Carolina reports to the College
that he made a net profit of $1,216.36
on four acres, which la a return orer
three hundred dollars per acre. This
grower was careful to keep an accurate
account of all expenses, including
that of curing, marketing and grading
his crop, and his experience shows
nnqcuhiiities of the sweet potato
r
as a money crop for the South. In
fact, it proves the value of the crop
beyond all question.
Produces Well On Nearly All Soils.
The soil and climatic conditions of
the lower South are very favorable
to its growth and produce a root much
sweeter and richer in nutriment than
the harder and more starchy tuber
of the more northern states. The po
tato makes its best yields in the sandier
soils. It will do well on most
any soil that is well drained, but if
grown on -soils that are too fertile,
produces a larger amount of vine at
the expense of the potatoes. A light
eoil, not too fertile, with a firm 'suborn
trivP<1 hpst results. If the sub
?
soil is too loose, and not compact, a
large proportion of the roots will be
stringy and unfii for market purposes.
Preparation of the soil is about as
for cotton. The land is broken, laid
off, the fertilizers applied in the rows
and this bedded upon. The ridge is
"? ^ f AHIA firmlw 1VO.
generally anuweu IU iix uua/ w
. lore the slips or vines are planted.
Some Leading Varieties.
As to varieties, the Nancy Hall
seems to be the prime favorite at this
time. The Porto Rico and Triumph
1 varieties are also very popular and
rank with the Nancy Hall as a good
yi&lder and a eiarket favorite. The
Southern Queen and Yellow Jersey are
two other varieties which have found
favor witn some growers.
Liberal Fertilization Important.
! The question of fertilizers is, ol
course, related to the kind of soil on
which the crop is grown. On the
whole the crop needs liberal fertilization
and responds well to this treatment.
The sweet potato needs a complete
fertilizer and an application of
at least from S00 to 1,000 pounds per
acre. Some manure may be applied,
" * * - * 1. a ^ i 4. * u ; ,
but it should do unuer.sioou mat una
is an unbalanced plant food, that be:
cause of its nitrogen content will dej
velop the vine 10 the detriment of tire
! roots if applied in too large quanti'
ties. Tlie same thing is true of a ccrnmercial
fertilizer mixture having a
high nitrogen analysis. The crop
needs potash more than do general
field cropp. since this element seems
to aid in the elaboration of starch iD
the roots. It was found, however, that
during the shortage of potash, due tc
the recent war, that sweet potatoes
j would produce well with a less amount
of potash than had been previously
^ ? ~lm i. /vr>L? o r
IDUUglU Uftra-sai,y.
j For best results the crop must have
-a good supply of readily available
phosphoric acid. A formula containing
all three of the necessary elements
o" plant food would be, for the
coastal plain region, 9 per cent available
phosphoric acid, 3 per cent nitroI
gen and 4 per cent potash. For the
. Piedmont region, a good mixture will
! contain 9 per cent available phos|
phoric acid, 2 per cent nitrogen and
i 3 per cent potash.
Curing Houses Solves Marketing
Problem.
Curing and storage houses are now
going up rapidly all over the South,
Some of these are established on the
individual farm for the individual
crop, but many large houses to store
the community crop are also being conI
?tructed. The curing house saves
from 95 to 98 per cent of the crop In
excellent condition for food as contrasted
to, a former loss of from 20
to 100 per cent of the roots under the
old system of banking and handling.
A storage house may be constructed
for about 50 cents a bushel for houses
ctf from 500 to 2.500 birhels capacity
and for 40 cents per bushel .'or icrc r
houses, l^lans for |th?se houres m. y
bo oTitat'j^d free c: ih^rge iroa; t\?.e
United Stlates Department o~ Ar- l ^.V
ture.
MxwwwwwTai
,P| Suffer?
i fySjk ^ir5- J- A. Cox, of Ai- j
j %/jt derson. \V. Va., writes: j
"Aly daughter . . . suf- :
; y m icrea icmoiy. sue ccu;a gr xj j
net turn in bed ... the
m/yM doctors gave her up, and
Yj\ we brought her home to wyS
\y\ ?ie. S!ie \:zd suffered so ftyfl
much at. .. time. Hav- V^A
ing heaul cf Carcui, wc Wy4 j
vJk got it for her." TjA j
uriiiiy vi
yt The Wcnao's Tonic y,
X/JL "Inafcwday3,EHebe- \/a
L/l pin to improve." Mrs.
[/J Cox continues, 4*an?1 had L/
r/J. no trouble at .. Cardui /
[04 1 cured her, and we sing r/
fyl its praises everywhere." ly
l^yJ We receive many thoumrm
sands cf siir'lar letters
L/J every year, telling of the */J
|/j gooa Cardui has done for |/1
r/J women who suffer fron *
(04 complaints so common to '
wrA their sex. It should do |>| i
NEGLECTING THAT '
COLDJR COUGH?!
Why, when Dr. King's New
Discovery so promptly
checks it
r'S natural yon don't want to be
careless and let that old cold or j
cough drag on or that new attack !
develop seriously. Not when you can
pet such a proved successful remedy
as I>r. King's New Discovery.
Cold, cough, grippe, croup does not
resist this standard reliever very long. ,
Its quality is as high today as it always
has been?and it's been growing
stradily in popularity for more than .
fifty years. 60c. and $1.20 a bottle
at all druggists. Give it a trial.
Tardy Bowels, Inert Liver
They just won't let you put "pep"
Into your work or play. Sick headache
comes from retaining waste matter
and impurities in the body.
Feel right for anything?make the
liver lively, tfte Doweis iuncuon reguarly,
with Dr. King's New Life Pills.
Smoothly yet positively they produce
results that cleanse the system and
nake 'lver and bowels respond to
:he demands of a strong, healthyvbody.
Still 25c.?at all druggists. Try them
anight.
Sure
Death
to
Coras
"Gets-It" Makes 'Em Lose Theii
Grip and Lift Off Painlessly.
The first thing 4t*ets-It" does
when it lands on a corn or callus is tc
snuff out the pain Then it shrivels tht
corn or callus and loosens it.
Mwliwliliil Spella
"Fimlah**
for Conu
. Soon, it is almost ready to fall
off. You help it just a little by lift,
ing it off -twixt thumb and finger, i
You don't even feel it, because
there is no hurt left in it Millions
have proved it the cleanest, surest, i
safest and most pleasant method.
"Gets-It," the never failing, guaranteed
money-back corn remover
costs but a trifle at any drug store,
j Mf'd by ?. Lawrence A Co.. Chicago.
Sold in Newberry and recommended
as the world's best corn remedy by
W. G. Mayes.*
ESTATE NOTICE. j
' f
All persons holding claims against
the estate of Robert McC. Holmes,
deceased, will present same duly attested
to my Attorneys, Messrs.
Hunt, Hunt & Hunter, Newberry,
S. C., on or before April 1st, 1920.
Mary Butler Fant Holmes,
Adminstr,?+r^' ' r. - phonal estate
of 7! >W ' v >nes, deceased.
I' rcli ?
-s
/' " i
<G?T HEADY
! FOR "FLU"
* ;? When its cur- a
-s down and its waters jj
,-Diluted, the stream &
-?r the shores of J
h the land of
To purify the!
- the liver, ke^p; |
I kidneys acting] 5
<. ; an old doctor's I
? -i use for 67 I
tho TTT A fTTTIR 1
I? Chattanooga, K
our drug: store.
family.
:'S LIVCH an&
! me when ercry1
consider it an
" for const ipstiao,
. .uses and li'Ious*
-i..* ?.>wn, Term.
liisSr
.
Million Packets Of
Flower 8eed Free
We believe in flowers around tiu
homes of the South. Flowers brighter
up the home surroundings and ffo
pleasure and satisfaction to those wh<
have them.
We have set aside more than one
million packets of eeed of beautiful
yet easily grown flowers to be giver
to our customers this spring for th<
beautifying of their homes.
Hastings' 1920 Seed Catalogue i:
now ready. Brilliant cover in hatura
colors. 100 pages of garden and farn
information, profusely illustrated. It'
the oae worth while seed book fo
southern gardeners and farmers. Thi
catalogue is absolutely free to you oi
request Your name and address oi
a postal card or in letter, will bring i
to you by return mail.
This 1920 Catalogue will show yoi
just how you can get five packets o
flower seeds (five different sorts) al
solutely free of cost this spring. Sen
for this catalogue today without fii
i^O UUiigdUUU IU UUJ ouj uiiug uuiva
you want to. H. G. HASTINGS CO
Seedsmen, Atlanta, Gau?(Advt)
Subscribe to The Herald and New!
$2.00 a year. i
If You He
Anybi
I' about coffee price
tell them to quit c
j Instai
?
I A ten days' trial
please, and with g
is no loss of pleasu
wonderful table
fill, economical, del
m in price,
"There's;
r^Owe^M^Life^
| *Mr. McKinley's letter
| brings clieer to all who
I may be sufferers as he
| was. Read it:
I "I can honestly say that I owe
5 ?~-rr Hf? Pprnr.*. A fte-T some of
ithe best d: 'ors in the country
gave me u and told ttk T could
not live ;nother^ month P^rnna
c>av*?? rr e. Trav fro; town
to io>vn, throughout the country
and having to ..o into all 1:;r.aa
of badly heated stores and b : Iingf.
srr? ?< s standirs* tor
.houis at a cxme r/hijc y.'; j .? ;vt
trade as auction err, v <-^'v
natural thrt I *?-vl v< f
qse^tlr; ro Tvhon
occur I p&ia littio un . ^ iuntil
last iteccmoer . .. . attracted
a severe cao-.-, rhicV,
throurh neglect /.:y "a t
settled on rr.y luntr^ r.
Biort ><> T-<te. ? *?p * '? .v ?- *
/>?.< '
a ?- * - V " - i. . . . .
J
i
,
j
j Keep Your Liver Active, Your
System Purified and Free From
f!n1rls hv Talrinior Calotabs.
the Nausealess Calomel
Tablets, that are Dei
lightful, Safe and
Sure.
.
Physicians and Druggists are advising
their friends to keep their systems
purified and the'' organs in perfectworking
order * rotection against,
the return of ~ a. They know
th^t a clogged up -r am and a lazy
liver favor cold ii jenza and seriou?
complications.
To cut short a cold overnight and to>.
present serious complications take on<*
Calotab at bedtime with a swallow of
water?that's all. No salts, no nausea,,
no griping, no sickening after effects.
Next morning your toid has vanished,
your liver is active, your system ij pun
/led and refreshed and you are feeling,
fino -ith a hearty appetite for breakf
s Sat what you please?no danger..
Ca oLabs &re sold only in original
scaled packages, price thirty-five cents.
Every druggist is authorized to refund
your money if yon are not perfectly
ieli^htcd v/ith Calotabs.?(Adv.)
Stomach
1 Out of Fix?
A . . ,
'Phone your grocer or
druggist for a dozen bottlesof
this delicious digestant,?a glass
1 with meals gives delightful relief, or
' no chargft for the first dozen used.!
ShivarAle
wibf niGESTIVE AR0MAT1CS WITH
J SHIVAR"MINERAL WATER AND GINGER.
Nothing like it for renovating oI<T
^ worn-out stomach converting food
J into rich blood and sound flesh.
3
j Bottled and guaranteed by the celer
brated Shivar Mineral Spring, Shels
ton, S. C If your regular dealer
q cannot supply you telephone
Jj . J. w. KIBLIitt tu.,
Distributors for Newbeiry*
a
[ 'Rheumatism
*1 is completely washed out cf the system bj
the celebrated Shivar Mineral Water. ?os
- itively guaranteed by money-back offer
j. Tastes fine: costs a trifle. Deh'vered anywhere
by our Newb^rrv Agents, J. TfU
Kibler Co. rho:->
\ .
ar I
odv Talking I
:s or coffee troubles, \
offee and try < i v
I .
S I
It
ostutri r
shows results that j
ain in comfort there
re.
drink, pure, health- j
licious! No advance
a Reason"
Co., Battle Creek, Mich. . jj
jgPE-RU-NAl
i feed lili
i ? ifH;
^ RIS f
? 7~?. Srsnml McKfnley, 2504 33.
5 ?C.id St, Kansas Ciiy, Mo., Mem- :
b*r of the Societrof "U^S. Jewelry
}. a u.nioneers.
T-"w ?Trfeore# ^
or J-^ iu'.d^yorat