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^ V ■ ••AGE TEO THE CLINTON CHRONICLE. CUNTON. S. C. THURSDAY. JANUARY 29, 1931 THREE BILLION TO SAYS S. €. BANKS PAY OFF BONUS nines Tells Senate Committee Veter ans Are In Need of Money. Hear- in(( On CompenHation IMans. VN'ashinprton, Jan. 20.— An e.iti:nate M'nnescta had 378 failures, Iowa 476, I Missouri 2-^6, North Dakota 444, South IN FINEST SHAPE Dakota 315, Nebraska 307, Kansas WANTS t j j 194, Montana 191, Oklahoma 227, ard jiqr RENT—One furnished bedroom. .State Bank Examiner Find.s Condition Texas 217. Durin;? the same period of Applj' to .Mrs. E. R. Knox, phone Bert In History. Ample Cash On time, all of New Cn^^Iand had only 307, itp 26 failures. New York had only 12 and Hand and Loans Reduced. Columbia, Jan. 27.—S'.uth Car linaiO^'o,had only 26. that $3,112,000,000 would he required banks arc in better finanidal c;r;iiti.:n "The first and foremost cause of for inirr»cd=ate ta.*h redemption of ad- than at any time .since the state bank- the number of bank failures since 1320 ' u«te(l service certificates at face val- injf department was'created in PJOd, that great boom in agricultural In England 1 talked with some cele- u.s could profit by it. I know that if I; ue was given the senate finance com- bert .S. Fant. state bark examiner, prices and land values before 1920, Anted r-jmi.sts, who were ver>’ had written down my own private niittee t. day by Frank T. Hines, ad-. here today in releasin,? a the collapse of agricultural prices Kloomy. They said the fundamental foitcust at the beginning of each year mini.stratoi of veterans affairs. '-.ent of condition of all banks in the and land values smee 1920, and ^ the I • 1 A H a* it $1 SI \/ it lAf f 1 1 I St KM I.f aa^.a .a.a... nn 4L.A a T*\ .1-. 04 f Cl I ^ ' 01^ C ^ 0 “ ‘See How WroiiR You’ve Been thaB wapsli'hts or utiemployment. It is u'? fr< m making a number of costly ’junniittee opened hearing on the pro- Cash ie.serves on hand have prac- i-'^tfd. The second great cause is real one mule, 2-hrorse wagon, feeds*uffs. f P.YERS AND BROILERS—We have a nice lot of milk-fed battery fryers and broilers — nice and tender. No "haigr for dressing. Also 4 to 10 weeks old pullets, Red and Leghorns. Sf -att Poultry F'arms, phone 156. Ic FOR S.ALE — One clean 1928 Ford light delivery. Will take in exchange ini.'takfs. A!s(i the 1 p().sal, which was endorsed yesterday tkally doubled in the la . ten jears, e-tate .‘^peculation since 1920. Dr farm implements. Wm. J. record u ,iiu nuke rather of the American Legion, and is being'.his st.^fement showed. In 19 tO tne to- "D can be truthfully said that, al- Jr. the shortage of gold. Gold is the measure of all values When the gold dollars are dollar buys more wheat and and cotton and la/bor. So the all these commodities goes raining the producers in the proce.ss. If the shortage becomes much more , . - , . , — . tu - r acute, so the«e wi.se men argued, it country have never actually happened, i sented figures to show many veterans ^,5.5,877,936.12. l to amp rove. Ihe affairs of our state LOST--One .sack of white corn he- wiU orerturn .11 ..ale. and .k-l.t ' pra.««l financially. | Mr. Kant said, .South rnro- j 1’" ,,f h’’"/ t ''’'“’f “i!? °'S' settlements, and result in etunoinie (’’OTTON flINNINfJS i "" lina’s banks had loaned more than the ‘iiim.f.fj linn -finder please notify E. chaos. Vo rent! sArna . nei Present y.nti.e amount on deposit and the .turn^’*’’“‘''i "P*"' ''’■''n? ^P 10,5Di2,jU4 oALEi&: month to a figure far in exce.ss of I borrowed by them. Last year deiwoU 4 i And that many of the bad things Without expressing his personal period, the statement pointed >^"1 i Poultry Farms, phone 156. which I predicted for myself and the, view on the legjjslation, Hines pre- were reduced from S$141,025,997.IS to' our banks, the situation will conti.nup* fwas , any previous month, he said. on December 31 were $93,696,114.33. them, I fee! confident that the tro ashin^:ton, Jan. 23.—Cotton of the ^ .So far thi.s month, he testified,' The average re.serve on hand will be marked by steady p 1. U) crop ginned priod to January 16 Joans amounting to $17,000,000 have ajfainrt deposits since 1906 has been a In our banking system." wa=i announced today by the census | been made and they are being provid- fraction above 30 per cent, Mr. B'ant ■ bureau to have totaled 13,592,101 run-|«*d at the rate of about $1,000,000 a j declared, in 1906 it wa.s 35.2 per cent,: ip .-p m . uir a'^ivi? no bales, including 513,364 round j day whereas formerly they have av-' in 1910, 31.9 per cent, in 1920, 25.6 ^ p I _ ' ; A» 1 know nothing about economii s (and, between ourselves, I often won der whether the economists know very much), this s<-are<i me. The next <lay I was talking with Arahatsador Dwight W'. .Morrow, who was in (.ondon as one of the delegates to the naval conference. 1 told him 'what 1 had hcaid. InBt*‘a<l 1 n plying directly, he took down fn.m the mantle-piece a copy of Lales, an.(l in the previous year, 13, the autobiography of Lord Comer, and hhh,'. 72 running bales, including 616,-all the'various proposais which *''“nt’s statement said turned to a passage which read some- ;;!h; round bale.s, were ginned. | h^-en made for giving the M'orld working to thi thing lik,e this: { Ginnings by .states to Jan. 16 this | soldiers cash for their service “MTien I was a young man I pro- year were: I certificates H.\T('HING — Raise some early broilers to sell while price is high. gres.s; Bring your eggs every M'ecfrre.sday. j $4.00 per tray of 1T2 to 120 eggs.. jSfratt Poultry Farms, phone 156. Ic PAPER THAT YOU NEED, SEE—; Saturday Evening I'ost, $2.00 per ning hales, bales counted a.s half bales, and ex-' erag«Ml between $5,000,000 and $7,000,- pvr cent, and in 1930, 5.2 per cent, i * « « eluding Tnters. 1000 a month. “The fact becomes readily apparent JAMES W. CALDM'ELL, | 2 years,»$.3.50; 3 lo thit date la.st year 11,176,936| The veterans admi.nistrator present- “•’<1 sounde.st banking tunning bales, including .5.58,984 round the .senate committee with a com- history of the prch<n.sive .«et of figures to show the Carolina is now being ‘The Magazine Man" Call 24* at 12:30 P. M. See me for attractive Gift Offers. JAS. w. caldwel;. Me 3 end I and the ■^tiuggle has been a hard,' painful one. Nine years ago, in 1921,' ^♦♦♦ooo»»»»ooo»»Mooooo»»»»»oo»ooo»Mo»»oo>f posed to ke<p a diary, but wise old • Alabama, 1,436,610; Arizona, 138,-; 1,',,mediate ca.sh payment of their 1^^^ banks began to fail; .since that uncle advised against it. Inst(‘ad of re- .i‘23; Arkansas, 858,976; California.; ,.t lour, .,„A..ia I tipuy 2;0ofl,006; he‘ sai^hur the gov-^ ^^th Carolina,^ entailing could empbry my time more profitably i 580,283; is)uisiana, 701,562; Missi.*- by writing down on a piece of paper Lsippi, 1,450,182; Missouri, 151,95.5; what 1 felt sure was going to happen. fNew‘.Mexico, 94,065; North Carolina, Then, he said, ‘Put those note.s away, 780,119; Oklahoma, 851,.521; South' and a year get them see how will teach vuu to be cautious. eminent would save about $1,000,000 resulting in great a year lM*tween now and then in ad-, and serving to seriously uiir ministrative costs. jdermine and impair public confidence. This would amount to increasing But as deplorable as is the fact that «r later or five years later' Carolina, 9i»8,.507; Tennessee, 367,.562; j the soldiers’ bonus by‘'$I,670,000,0()0,!Carolina has suffered heavily < ► out and read them over, and Texas, 3,8.53,293; Virginia, 41,635; and I howtver, hi* told the committee, tak- bank failur«s, it is not generally'o wrong you have been. This «11 other state.s, 6,061. | jpj^ j^t,, account interest charges on we have fared in this'J[ What shrewd advice that is! .Albof srUSCRIBE 'lO THE CHRONICLE wi uld not be needed until 1915. ■ ■ Hines estimate*! the cost of the hill irojios* d hy K*‘i)resentative Garner, of i'oxas, minority leader of the house, to pay th<‘ current value of the cer- tifiia'.es jilus the fitP 25 |H»r cent al 1 tioiial endit given hy th*‘ act of ' !!'J.5, would cost .$2,12(1,(((Ml,(too. harge? .. the amount of monw which otherwise comparison with other ag- FORD SMOOTHNESS Tho new Fi^rd has more than tweni9§ hail and roller bearings Evidence of tho hijih quality built into the new Ford i» the extensive use of ball and roller bearings. There We more lUun twenty in all — an unusua’.’ ' large num« ber. Kuril brurtng U adequate in ilte and carefully •eh^rted for the work it has to do. At some pointi* in the Ford ebassia you will find ball beo^ngH. At olhem, roller bearings are U8e<l regardlcM 4t their higher cost. The dccidiug factor is the per- fomiaiice of the car. The extensive use of ball and roller bearings in the Ford tn^iures smoother operation, saves gasoline, *ases speed and power, gives quicker pick-up, de* crraMos noise, and gives greater reliability and longer life lo vital moving parts. Other outstanding features that make the new Ford ■ value far above the price are the Triplex shatter-proof l^as*^ windshield, sih'ut, fully enclosed four-wheel brakes, four llotidaille douhle^icting hydraulic shock absorb ers, aliiniinnni pistons, chrome silicon alloy valves, lbree-q«Hs;tcr floating rear axle. Rustless Steel, the ex- imsfve iwe of fine steel forgings, and unusual gccuracy in manufacluring. The Ni:v Ford Tortm Sedan Training Camps Serve Nation Kvi'iy ycur limit* Sa’ii (•.^♦ahlishcs ummiT camiis for hoys over ;fvcntccn j ;,cai.s of age, in praclii-ally every state in Ihe Cnitm. These camp.s are official- > ly tlt'.signutfil as the t'iti’/.ens' Military i 'Praining eamps and operate for a pe-. riod of thirty days. f I.ite in the open, whole.some food, , supervised athletics and disciplinary ; training is good for any hoy and that :s just what these camps are for: to ^b•ve!oJ) re.qionsihility, leader.ship, self reliantf, and resjieet for constituted authority, qualities so t*ssential to gootl citi/.eiiship, the development of -u Weh i ■>—so- -tvftvtr neglrrtrd TO these (lays. , Every physically fit. healthy-mind- td .Amrrii an hoy, sevi“ntt‘en or over, is I eligible to make application f(>r the.se I camps. There is not the slightest obli- Igation for future military service, it is neither retpiired nor asked, even I though the blank apfdieation i.s signed it means nothing, except that the hoy ^ j may attend camp if it is approved. I Each applit ant must he physically lexamiiutl and inoculated against ty- phoitl. However, thi.s costs nothing as patriotic phy.sieians make the.se exam inations without charge. ' Patents can rest assured that their j hoys will rect'ive the best of care hy ] trained experts. t i If tiuac informatiun is desired, or jyou desirt' a:i application blank, write I to Captain R. E. Wysor. Jr., Box 307, 'Clinton. S. C. Nii^ht School Term (iets Good Start liciiltuial state.*'. In the face of eeo-' nomic depression, depositors ni aJf elo.sed hanks have already been paid j an average of 47 per cent of their' V laim.**. “.More than 5,000 failures have oc- uried in the United .States since 1921,* of wh.ch 3,715 were in f iurt<ien agri- cnltui.il .*■ tales of the* South anJ .Mid dle \V(, the averagt* amount of de-t po'Js Icing a'out $ {00,0(M». The four .soiithca U-iri. .states which sufferesi i mo.q Acie North Carolina with lioj fa’.hiie-. South Carolina with 191 f.iilntcs. Georgia 3(;.5, and Florida 121. and in a second group of agri ultural stale.; located in the Middle \T(f.st.! Thurs,, Friday Sat. and Monday i KlfPpiilffijMER AND HARDWKK WOOLEN MILLS SUITS GOING AT HALF PRICE Come in early and get the first choice. SWEATERS HALF PRICE Coat style and Slip-Overs, 1C0% wool. Stop in — it will pay you. A J. A. BAILEY, Merchant Announcement LOW PB1CB8 OW FORD CARS $430 to $630 ^ Ni'ght .school staite.l at Academy tercet school Jan. 10, under the su- j pervision of Mrs. Teague Harris and Miss R.iby Carter, teachers in the' .t.ademy Street school. Up to the pre.sent time the number enrolled, has reached 0. .\ great deal of inter- j I en* ii being shewn in the w:rk and I trem all app aran:c'! the school will he a groat success as well ac a bene-,1 Jfit to the community. ^ Prior to the opening of the school,) an interissting "pep" meeting was hckil| on Jan. 17. At this mectnig the pas-[ tors of the churches, the superintend- ent of the mill, several men who had attended night schdol before, the I county superintendent of education ] I and the superintendent of the city i .schools heartily endorsed night school j work and urged a good attendance. Frank E. McCravy of Laurens, fur-. nished music and other entertainment i at the meeting. a. O. a. Dttrmk, pbu mm4 4Mmmy. Bmmpur* md tpmrr tlr« •aW m •mail MMt. Tam ram pmahmia m faad am aemmamiral tarmu ikrampk dka Iwiexlwrf raad fimamaa Hama «# lA* Vmiaanal Caadtl Campamp. ANNUAL MEETING The Jopnna Cotton Mills of Gold-|| ville, South Carolina, will hold its an nual meeting according to by-laws, on] Tuesday, March 4, at eleven o’clock a. m., for the election of ofTicers and the transaction of such bttkinessvas] nray regularly come'bafore such meet ing. E. L, DUBGIN, 2-20-4tc Secretary. We wish to announce that the Citizens Build ing and Loan Association of Clinton, S. C., is chartered under the laws of the State o{ South Carolina and is a sepeurate and distinct organi zation. We wish further to state that at the request of the Association’s sceretary-treasurer, B. H. Boyd, the directors met on Jan. 24th and em ployed an out-of-town Certified Public Ac- countii^-Company that is now making a com plete audit of the books of the Association. As soon as this audit is completed, we will publish their report in this paper for the benefit and in formation of our stodcholdm. Citizens Building & Loan Association i.c. (By Order of Board of Directors, Jan. 24, lOSl).