The Clinton chronicle. (Clinton, S.C.) 1901-current, January 07, 1932, Image 7
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THURSDAY, JANUARY 7, 1932
THE CLINTON CHRONICLE, CLINTON,^ S. C
I
Die Darkeift Hour Is Just Belore Dawn
predicting ^tors* in establishing this belief 'is
>
E}conomists are freely ^ „ ^
that the'United States is entering a the governm^t's attitude of assisi
perfod of gn^eat activity in real estate, ance through the organization of the
'Perhaps the greatest boom in the his- proposed Home Loan bank of two bil-
\ c^/tory of the country. One of the many Hon dollars working capital.''This
BANK STATEMENTS
' Statement of tke Condition of |
Commercial Bank
Located at Clinton, S. C., at the Close
of Bosindsa December^ 31, 1931.
RESOURCES
Loans and Discounts ..1 1224,1^4.10
Overdrafts NONE
Liberty Bonds Owned by
Bank j .... 20,000.00
Bonds and Stocks Owned
by Bank ,. 122,100.00
Furniture and Fixtures 3,000.00
Other Real Elstate Owned .! 23,206.43
^ Cash on'liand and due from
\ Banks
Cnecks'^and Cash Items ..
Other Resources
Statement ;of the Condition of
M. S. BAILEY & SON,
Bankers
75,856.41
703JJ6
725.00
Located at Clinton, S. C., at the Close
of Businses December 31, 1931."
RESOURCES
“Hjoans an<} Discounts $907,394,17
Overdrafts 3,727.70'
Furniture and Fixtures .... NpNF
Banking. House ..
Real Estate O^ned
Cash on ha,nd and due from
Banks ^ 70,121.64
Checks and Cash Items .... 213.82
TOTAL $469,725.30
UABILITIES
Capital Stock Paid in $ 50,000.00
Surplus Fund .... 25,000.00
Undivided Profits, less Cur
rent Expenses, and Tax
es Paid
Due to Banks and Bankers
Dividends Unpaid
Individual Deposits Subject
to Check 225,950.33
Savings Deposits .... 5,102.71
Dme Certificates of De
posit .... .... 157,780.96
NONE
jt0,567.49
TOTAL
...;
..$992,024.82
should add stimulus to the growing
sentiment in favor of home owner
ship, such ownership providing a sta
bilizer of mor^e and a source of com-
fen under any and all strenuous cir
cumstances. Both improved and unim
proved real estate should share in
this comjng activity, taking care of
the rapidly growjng population of the
United States. There has been a de
crease in building activity throughout
the United States during the last few
years. It is said 'th^ the new Jnd
greater building booni will be on a
sounder business basis with little ten
dency to over building.
. In previous depressions it will be
found to be a fact that where'invest
ments have been made in real estate
at the depressed prices substantial
profits have thereby resulted. It is an
investment in which it is impossible
to show a complete capital loss. While
real estate may be considered at a
standstill at this particular tinis, still,
at the beginning of the renewed de
mand, real estate" values will rise to
much higher level’s.-^ is predicted
that the next real estate boom, now
dawning, will result in real estate
values rising to the highest peak'in
the history of America,
Not/Only real estate but all lines of
endeavor will share in the great pros-
UABILITIES
Capital Stock Paid in $ 20,201.401 growth. There has been a
275.30
NONE
1,068.00
Re-dis-
Oashier’s Checks
Notes and Bills
counted ....
Bills Payable, including
Certificates for Money
Borrowed
Reserve Fund Carried
General, IndividuaU
Savings Ledger . ..
4,041.83
Due to Banks an<^Bank-
ers .... /r. ....
Individual Deposits Subject
to Check ...... 736,082.65
Time Certificates of De-
p&sit .234,602.97
Certified Checks 44.80
Cashier’s Checks
1^093.00
971,823.42
Notes and Bills Re-dis
counted
Bills Payable, including
Certificates for Money
Borro<%cd ..I
t NONE. TOTAL :.. $992,024.82
NONE
on
or
506.14
TOTAL $469,725.30
State of South Carolina, ss.
County of Lauren.s.
Before me came F. M. Boland, Cas]|^-
ier of the above named bank, who,
ing duly swornj says that the above j
and foregoing statement is true;
condition of said, bank, as shown b>i |
the books of said bank.
F. M. BOLAND. '
State of South Carolina, ss.
.County of Laurens.
Before me came R. C. Adair,
Ter of the above named bank, who,
being duly sworn, says that tl}e above
and foregoing statement is a true con
dition of said bank, as shown by the
'oooks of said bank. R. C. ADAIR.
Sworn to and subscribed before me
this ()th day of January, 1932.
. ROBT. S. OWENS. ^
Notary Public, S. C.
decrease in value of securities of over
NONE 75 cent, and commodity prices
have decreased over 50 per cent in
valfle. There is certain to be a great
upward swing in both securities and
comm'edity prices, and there never
was in the history of our "country a
better time for investing in high
grade securities of basic industries.
Thousands of new millionaires are
now in the making with the return of
confidence together with judicious in
vesting. The public not only in- this
country but throughout the entire
world has been living on what may be
called “the stretch out system,” caus
ing our manufacturing plants to op
erate at a serious toss. Tailors and
dressmakers report that the public is
NONE
NONE
more raggt'd, patched, and
Saturday Post, $2.00 pei
Sworn to at d subscribed before tne
>ear; 2 years, $3.50; 3 years, $5.Ud.
JAS. >v. caldwicl:.
Call 38 at 12 IV M.
this 6th day of January, 1932. |
VERA P. WILSON (Sdal) I
Notary Public, S. C. j ^
Correct Attest: J. W. Davis, W. D.jTO TuE CHRONICLli
Copeland, H. 1). Henry, Directors.
»
NEW LOAVES
BREAD
wearing
remodeled clothing than ever before
known. This condition cannot long ex
ist and with the return of this new
demand, the wheels of progress will
turn with even greater activity than
ever before, requiring an added army
qf skilled -workmen. All industry, |
commerce and agriculture w’ill like-'
wise be rapidly speeded up.
handbill ^<’as recently dfstributed
in London which reviewed| the follow
ing prophecies of great men in other
days: ’ ,
’ William Pitt said: “There is scarce-
ly anything around us hut ruin and
despair.”
Wilbur Force in the early ISOO’s
.said: “I dare not marry, the future is
so dark and unsettled.”
Lord Grey, in 1819, said he lielicved
I “eyerything is tending to a convul
sion.
' The Duke of W’ellington on the ev.^
cf his death, in 1841, thanked God he
LARGE PULLMAN
24 ounce wrapped
LARGE PAN LOAF
20 ounce wrapped
10c
SHORTENING C 8 "
Buckat
7c
59c
TOMATOES
FuU 4
Pack
No. 2
Cana
25c
SAUlD DRESSING 19e
SPECIAL COMBINATION OFFER
1 doz. Grandmothw’f ROLLS
AND
Jr
1 Saltana PEANtrr BUTTER
CORN 'SiS 4
29c
CiM
^ ENCORE
MACARONI
or
SPHAGHETD
6 pkgs- 25c
Fat Backs Hi. 7c
^ EL RIO
Coffee 2 k fsc
FLOUR lin 96
lb.
Bag
il J9»
would “he spared from seeing the con
summation of riiin that is gathering
about us.” ,
'Disrjieir (1849): “In industry, com
merce and agriculture there is nj
hope.”
Queen Adelaide, consort of King
William IV, said she “had only one
desire, torplay* the part of MarieH\n-
toinette with bravery in the revolution
that,was coming on England.”
■ Lord Shaftsbury (1848): “Noth’ng
can save the British Empire from
shipwreck.”
But, concludes the circular, “We
came through all right, and shall do
so again.” _ -
The Cambridge Associates, Inc.,
gives an outline'of historical happen
ings cf various panics'as follows:
1841:.
Nine-tenths of the Eastern factor
ies close. TwO-thirds of the clerks are
discharged. M^ny industries shut
down entirely. Several states repudi
ate bonds. F'ive thousand men storm
city hall in Boston.
The next twelve years were pros
perous,. with only two minor interrup
tions. ""
1857
Industry ‘ almost stops entirely.^
Prcperty falls 25 to 75 per cent in
value. Parading mobs in New York
cry “bread or death.” Sub-treasury in
MILK
White- Hoiue
4
TeU
Cent
25c
i MEAL or GRITS loosi 5 lbs- 10c
i GOLD DUST 3 pkp. 10c
CAUL^LOWBR, lb 15c
Celery, 2 for 25c Irish Potatoes, 10 Ib. 19c
Bell PepperC Ib. 12‘/ic Ureen Beans, Ib. ..i... 10c
I neCreatAtlaiitieikPacifieTNaCo
Wall srteet is stormed and is only
-saved by federal troops.
' Business rose steadily for three
years.
1873
Jay Cooke & Co,, compared with
Bank of England, in strength, fails.
Stock exchange closes for eight days.
Providence^ firm fAils foi^ more than
entire Rhode Island state debt. Pig
iron cannot be. sold for any price.
Depression followed by five pros-1
perous years.
1893
Reading, Atchison, Erie, Union Pa
cific, Northern Pacific fail for com
bined loss of '$2,400,000,000. Union
Pacific sells for $4 per share, (a as
sessed for $16. Currency m ’Worth 4
per cent more than checks/Call mon-
ey is asked for at 360 per cent but no
money is'available.
Depression followed by six prosper-
yeart.
1921
Observers tay “Plants are over-
expanded, and because England and
Europe are off the gold basis, pros
perity cannot return.”
Gieatest prosperity in history de
veloped during the ensuing eight
years.
mi ^
Observers say “Plants are over-
expanded and because England is off
the gold' basis, prosperity cannot re
turn,”
—The Securities Investment Co.
\' :•
\
A circus wagon can be pulled along a dirt
road — they can buckle down and haul it
^rough a little sand and mud. But when itjbogs
in the mud — when every-day horse power fails
— it’s time to put the "Elephant tp work!
There comes a time in business when sales
slow up — when buyers hesitate — when mer
chandise won’t move. All the plans that worked
So well when the road was smooth somehow
low their power to pull.
But there is a power than comes into its own
at such a time as this —
IT’S THE CONCENTRATED POWER OF
REGULAR ADVERTISING.
--V
is the Ele-
in Your
Business in 1932
’The Paper Everybody Reads”
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