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THK BANK OK CAMDBN I I I I ? 1 f 9 ? Attention k? called to t>he statement ami proposal curried m Abte? week's Chronicle ov<* the signature* of the committee cho*eo *>y the wbookhoklem ami dei>osiU>n? of The Bank of Camden to investigate the condition of that institution ami to formulate a plp,n for Kta reopening tm im uure" etricted hasi*. The report of thin committee shows that these gentlenMMftifrhve made a careful and painstaking^ investigation ami it will be road. eAgeily by the many frienda of the Bank that has for ao many boon of such able! wad friendly service to Camden ami hut rounding communities. It ia clear that the condition of the Bank has been oauae<^^v(U? unprecedented slump in ipckkwt to the. dal>rtw?ion throu?$ W*?kh we have been parsing; and 'with a return to normalcy, toward which we are now aurely traveling, the book values of the loans and projxnti^s will much more nearly represent their true worth than at present. The committee, after the wxwt careful consideration, hee evolved what is, perhaps, the moist feasible plan to enable the Bank to carry on, ?t*l ** is earnestly to be hofliej'th^t the cftockholderM and depos^iw' $?*1 in line ami thus insur?Hfe of that great institutiion ahd assure to themselves and to the At" large the cooperation end helpful Service that hae so marked iW career wince its founding more than fortyyea rs ago. * - ?Few busirueasw and few^ people within a large radius but who have boon benefited by the Bank of Oamden, literally thousands, are hoping that there may be no" forced liquidation. Camden would not 8eom the Mime if The Bank of Camden should be no more. Receivership liquidations, here and everywhere, have always proven slow, costly and unsatisfactory. The money owing to the depositors can assuredly be more easily recovered tf the Baavk is allowed to continue, and certainly at far lose expenses yw the good of the depomtons, for the good of the M^csbholdene and for Chq good of the people, may we expreen the hope that a plan be speedily adopted end *flhe Bank of Cferaden be thus permitted to again Mwod aa, the ? saf^ and sturdy friend of the evtizene of Camden and Kershaw County, POST OFF ICR HOARDING Withdrawal of funds from local activities and depositing them in jxxwtaJ savingw may be good aa a "safety first" measure but it is hoarding on a coloesal soale. The president's edict should also have closed the deposit windows in the post offices. What sense to scold people for hoarding and then encourage it in this way ? Originally this function of the government wad to encourage savings. While it remained such the business at the <iocal posrt office at. leaat was almoet nil. Lnformation* is that the same was true everywhere. r . BuV with the \ "postal savings" it speedily beoame "paatart | offifife Certainly in this emergency the bars should **>,&* up < **** * this form of ho>ar<Bn|p^* " j life-toed it would help if the gtrrernmenit would art. once call for with- __ drawaJ of currenvoy that would have to go to work.-to 'be valid.?dirtily Sentinel. Fainnkohitii 'Minn. IN J C STICK TO YOUTH We are doing a grave injustice to millions ..f youths by adhering U> the, fetich that everybody must bo edu-| rated right on up through high school | nnd college and holding out to the I youths the jaokassirai t.iAa?y tnatj education is a cure for congenial tg-; norar.ee and a guarantee of economic! SIX'U! ftV. What we are iietuaiiy doing. f* j roaring a nation of disappointed, disillusions! and discontented morons. All men we^e not created equal and education cannot make them so. Through the elementary grades you can teach all .to road and write ar^i cipher a bit, bait you can't teach them to think. The higher education should be only for those who cam use their heads, and those who have heads to use and will to use them will get all the education they desire.?'Elizabeth City (S. U.) Independent. The Into mat *maJ Shoe company at St. Ix>uis. Mo , h?r announced am increase of pay to its workers ranging from 2 1-2 to 15 per cent. The inert!*^ will cost the company $500,000 annually*-U/ * Momphrs, Tenn., on Wednesday befl-an its annua! three-day frolic in honor of Kinp and Queen Cotton. The city is m ffala attire and everyb dy! is highly pleased with the recent ad-j varices in the pnoes bjinjr offered for; ronton. American and other women failed to see K.inK George at the receptions held at Bucking-ham palace la.<t week, i The king hud rheumatism in his left shoulder, could not wear a uniform and could not !>e present at the functions. iff?? i MbPOSAL TO THE STOCKHOLDERS OF THfe BANK Ol* ? , -i, CAMDEN, CAMDEN. 5. C. ? . ., .- ' 'W, ..ye n t?* j*' ei An audit <mad? by the ffudifcors of *he !BtwCe Coromk<??e of Banking OunUrot gfeowed the following to be the condition of the Rfl?kh of (?rm<Um* TM my $?T? given in oondweed form end round number* for the of eMp9>4R^i( . I . .-V _ T". - ^ ' ASSETS " '.'V* Apponaiaed Value Book Vnlue (Loan* end Diaoounte >304,000.00 $480,000.00 * [5oode 60,000.00 02,000.00 iXti niture end Fixtum? 10,000.00 15,700.00 Hmhtog Uouen . * 35.ooo.oo 54.000.00 'Other Kuel R?t?t? 46,000.00 56,000.00 (fcah 0,000.00 Tty?l $100,000.00 ' *"*' 1.1 ABILITIES \_. Unsecured IVihxsH-s $367,000.00 Due to Rank* 108,000.00 . Other Liabilities, (accrued livUsivst, etc.) 2,000.00 Total Which reveals a deficiency of T^^Hf7,OOOCOO $400,000.00 This appraisal was made when prices were at their H^est level, but even wbqn the decent rise in values is taken into coneuleration it is obvious that the deficiency i* eo large ^nd the' borrowings of the bank ao large that any plan of reor gain ration which would provide for the payment of any substantial (portion of the deposit liability in caeh upon reopening U impracticable. Furthermore, it is obvious from thin audit that .the stockholders' liability for assessment Is imminent. * The shrinkage orf assets under recehnervhip is well known. Beyond a question of a doubt the most efficient liquidation of the frozen aesete of the bank can be attained through-a going institution. .Realizing this, a meeting of the stockholders of the Bank ^elected a committee of directors, otookhokfers and depositors to study the Rank's condition and suggest a plan of reorganisation which would ineure the depositors full payment of their deposits with a minimum of burden not only upon the debtors of the Rank, but also upon (the stockholders. This aommittee, after a painstaking study of the problem submits to the stock-, holders the following plain: It is essential to raise from without the Rank a minimum of $85,000.00 in cash. Without thb no plan of reorganization will be approved by the State banking authorities. If such a sum is not raised no course is open but receivership and the inevitable 100 per cent assessment of the stockholders. Mr. H. <3. Cairrison, Sr., has .made available >50,000.00 of this sum. It is proposed that the balance needed be secured in the following manner: The stockholders of the Rank shall surrender their stock and/ pay in cash one-half of the amount of their stockholders liability thereoffi Upon th? payment of this money the stockholder shall .be offered an agree- u ment with the reorganized Rank that (if and when the present depositors are paid in full .the stockholder shall receive stock in the reorganized bank in the amount of his payment or so much of it us has at that time not been needod to pay the depositors out, or a settlement mode.with him on a cash basis. (Mir. Oaarison for his payment will receive a similar agreement.) It is hoped that such ?rn arrangement will relieve the stockholders of one-half of his assessment that is not now asked for. Moreover, if the depositors are eventually paid out without the need of th? 50 per cent as- . scwsment now being asked for, then the stockholder really stands tq lose nothing, for m such a case he will be offered stock or caahl settlement, m the reorganized bank in .the amount put up by him. . . ._^> Far your information the portion, of the plan affecting the dep^qHor# vig as follows: - ...." $50,000.00 new stock would be issued, divided into shames of fcw4l(>10)i dollars par value: This stock would be divided among the depositors in proportion to deposit?. In other wbrde the ratio would-be approxm^?tel|p^ me to si*. Fog example, a depositor with * maty dollar deposit .would: receive one share of stock m the reorganized thank. Ouch an axvangflmeotvwould wipe out completely all of the deposits, save the odd amounte and-.' those so amall that stock issues in lieu of them would not be practicable. In the statement below it is estimated that probably >36,000-00 would re? main as open deposits in the bank on its reopening. The (following statement would represent the approicima/be openingday statement. It is to be noted that in it the assets have been drastically out, probably considerably below what can be realized on them. Attention is also called to the fact that any question of a possible stockholders liability on the new stock is little more than theoretical because of the large undivided profits account (and the surplus account provided . by the old stockholders: . ASSETS Tx*an? and Discounts >322,000.00 Bond and (Stocks 11,000.00 -V Furniture and Fixtures >10,000.00 Banking House ; 36,000.00 Other Real Rebate ? 46,000.00 v Osah 35,000.00 r Total ; >458,000.00 A> ' LIABILITIES Capital Stock (distributed to depositors) | 50,000.00 .. Surplus ..J 10,000.00 | 'Deposits (remaining "after distribution of stock) >35,000.00 * Special Reserve "Fund . .: 273,000.00^ Bills Payable (R. F. C.) v.v 90,090.00 *Tot?l >458,066.00." ^ - The Oon?el*\%V>r h*s in excesa of >50,000.00 now with htm in deposits,^ practically all of which, it is anticipated, will remain with bhe reorganized institution. As .money-is colle<<t?d on the Kxms and .discounts it will be paid the new stockholders (old depositor^) in the form of stock dividends until tbcy. have received 500 per cemt dividends. After that the old stockholders that have paid in on their stock liability will receive stock for it and be entitled to slvare m the bank's earnings. A short jwriod of operation as an active bank with .such a strong statement should make it possible to take up the entire bills psyable item. All collections a: or that would go to the new stockholders (old depositors) :n the form of . .>ck <1 ivxfeads until they are paid, and when they are paid stock wi.l be offered the oid stockholder for the amount he has paid into t h?- sjHN'ial surplus. <?r so much of it as was not needed to pay the depo*:tors out in full. To put th.s {ilan in effect prompt act:<*n on the part of the stockholders is essential. The o? mm it ice must know in writing at the earliest possible moment'uVu/ y stockholder's reaction to the plan. The ]>aymen-Us from the stock hoMers will probably not be required for another sixty days. L>o your duty by the depositors, save yourself if jxissible your full liability and .save your community from going through the distress of a forced liquatation of the Bank of Camden. Do your i*tm?*st to cooperate with the undersigned committee. Respectfully submitted, R. M. KENNEDY, JR., Chairman J. M. YILLEPIGUiE W. F. NE7TTLES HENRY SAVAGE, JR. L L BI?CK r n i Newe^f Interest in and Near Bethune . I ** ?h .> ';? Bethune, M?jr 15,?dmoreaeiv? me* day at the no>me of Mm. M. G. King. Two Confederate veterans, Mr. G. & King, H6, and Mr. Douglas, ?9, were present. Neil Truesdale made a apkwHiid talk und special music w?? furnished by Mrs. T. R, Rethune and Miee Stella Bethune, with Mia, J. C. Footef- accompanying at the piano. A tiweet course was nerved durlngMihk social hour. The ladies of the Presbyterian nux* I iliary observed the birthday of ' the I auxiliary last Thursday. A<n Inter-1 voting Chinese program was giyenj after which the birthday cake was Cut] and refreshments served." 1 Miss Ri/yu Mclyeod, of LeRoy, N. I Y., and Camden, has btnm a recent! visitor in the heme of her brother! iniii wster-ln-law, Mr. ami Mrs, I). I L. Mclyeod. I Mrjj, E. B. King ami eon, Jnmes, J sbeut several Hays last week visiting] relatives in Columbia. Miss Gladys Baker, who has been! teaching it} the Guffney schools is at I homo for the summer vacatioci. / t I 'Mr, and Mrs. T. R. Bethune have! taken over the King-Davis hotel fori the'season. ! The Rev. and Mrs. W. V. Jerman, f Mrs- J. M. Clyburn, Mrs. W. ,E. Da- (I vis and G. E. Parrott attended dis-jl t rk^t conference in Sumnverton last 11 Thursday and Friday. v -\jJ Mr. and Mrs. OB. E. KeUler visited}! Mrs. Keialer's former home atjl Hodges during the week end. II Mrs, <\ R. Viiugban, of Oayce, is II spending some time with Mrs. Wal-|| lace King. Grler Gordon and Whlteon How ie, || of Charlotte, spent Thursday with}] Mr. and Mrs. Z. R. Gordon. i Miss Mary Huckabee, of Camden, Iwas the week end guest of Mrs. Lon-1. nde Waters. . j Miss Carrie Yerbrough, who lias I been teaching in the Baron DeKalb school is at home. ' Dr. Eldridge Raskin, of Baltimdre, has been a recent visitor to Bethune. 11 Mrs. Charles V. Rivers und little} daughter spent the week with rela-1 tives here. Little Miss Minnie Edna McLeodj bos been spending several days in M Camden with her aunt, Mrs. Clara Rhoden. Miss I.illie Mae Blackwell, of Con-j wey, was the week end guest of her J motbef, Mrs. 'T. B. Blackwell. * Hugh Oliver and son, Harris, and}1 Harold King left Sunday for a visit to Quitman, Ga. ? Mr. and Mrs. Loring Davis and " small daughter, Rita, are visiting relatives at Perry, Ga. Mfos Eliza King, of North Carolina, has been the guest of her parents, Mr. and Mrs. Wilmer King.. Circle one of the Baptist Women's Missionary Union met, with Mrs. W. , W 'Mungo Monday afternoon. Circle < mot with Mrs. iLocmie Waters Tt**day afternoon. Refreshments V hdth bbeMcne* at^the < fcartsryrtau imtti W; A. Gaines, returned Monday from a Visit ho relatives tnOOtambia .and Ward. , ff Mr. and Mra. J. 0. FostorligwVchil-&w have Tbeen vtsdtihg relatives'" in Spartanburg county. Mrs. Douglas C. Guy, Mrs. W. F. Thornton, of 'Spaatanburg, and Miss Frances Campbell, of Pacolet, spent Mother's Day at the 'home of their parents, Mr. and Mrs. W. T. Gardner, ! in Bethune. They were accompanied I home by Mrs. Guy's niece, Miss Ruby Gardner, of Camden. A great throng stormed the capitol *t Columbus, Ohio, Tuesday to proteat against a sales tax plan that had been offered by Governor White to the legislature. Packed galleries looked on the legislature while jpopy speakers voiced bitter opposition.' i A strike of 2,000 workers of the Pequot MjIIs at iSalem, Mass., said to be the only 100 per cent union mill in the country, closed the mill Monday;' The strike is against an increase of looms from 20 to 24 looms per operator. Jfi . CArd of Thanks *r Editor Chronkie: I wibh io ex- > proeS through the columns of Tha Chronicle my sincere appreciation the splendid service rendered by the fixe dfepsrtmont on Wednesday mom?>g:. May lOtih, when my house oame so near being destroyed by ft re; also for proffers of assistance, and kindnesses rendered, by many others. Camden has a fire department of which any city might well be proud. "The boys" certainly put over a nice job and I want them to know that I appreciate to the fullest the verry fine work they did. ' Wry truly vours, ' \V. "L. McDowell. Notice to Debtor* and Creditor* All parties indeibbed to the estate ' of J. E. Rush, deceased, are hereby notified to make payment to the underaiffn^h and all parties, if any, having claims against the said eatate ' will present them likewise, duly attested, within the time prescribed by law. MAGOIR W. RU^H, J Executrix cf the Estate of J. E. Rush Camden, S. C., May 4, 1933 || Wants?For Sale LOST-?One round yellow gold wrist watch, with yellow gold band. Thought to have been lost somewhere in Mores or streets of Camden. Finder return to Chronicle office and receive reward. 8pd Some one, somewhere, has something you want; some one, somewhere, wants something you have. FOR 'RENT-?Several desirable residences freshly painted and repaired. Kmterprise Building: and Loan Association, or W. R. Zemp. FOR RENT ? Apartment of four i rooms, with private bath, kitchen-1 ette and large piazza. Apply Mrs. W. Juration do Loach, 1306 Lyttleton street, Camden, S. C. 7-8-eb FOR RENT?'Five room house on East Walnut street. Nice size lot with garage. Price $15.00 per month. Call W m. L. Goodale's phone 193, Camden. S. C. 6-8sb BABY CHICKS?Giants, Rocks, Reds, White Wyandottes, White English and Brown Leghorns. Write for special low May prices. Thicklings for June delivery. Graves Hatchery, Pageland, S. C. 6-8sb WANTED-?To exchange several subscriptions to The Camden Chronicle ..for several loads of dry pine stove < '' V"- ' ' I,w1 wood out eighteen inchee in taftk, \ ELECTRICAL REPAIRS? Repairs, f renewals and adjustments made on Electric Ranges and other hoii8?hold appliances. Phone 384. W. t M. Shannon, 210 Mackey Street, Camden, S. C. 53t? i FOR SALE OR RENT-?Five room residence on Monument Park; six- . i room residence' on North Mill street; flve-rooni residence on DeKalb street; six-room residence on South Fair etreet. Apply Enter* I prise Building A Loan -Association,' \ Oamden, S. C. ^ . 51tf | RADIO REPAIRING?Expert rtdlfc Tv repairing, any make. Other electrical repairing done, all work guar- I . anteed. Creed'e Filling Station, teh ephone 486, Camden, S. C. 60tt CAW?N1?un?-^en -ft.'. Jftfer* Em IE, SIS Oharch- Sttwt,; j uindw, S. Cn will gfcra ?ad*-t factory service te all^fer aUJkJM^ m*al retain. II.H ** i if " " UsetrTU^ture i ' ! ??v I I We have opened at Storeroom I - formerly occupied by Fischers Ten I Cent Store, next door to our store, a I complete line of Used Furniture. This I merchandise has been re-conditioned I . and is in first-class shape. We are of- I SL.: fering some tare bargains and we in- R vite our friends to call and inspect |! - u-? ..A . I, these bargains. rj ' *i ' " ^ y ? ? '? ? ? ? .? ? ? V ?? V * ?' ? ? m * W I. . . , , w I Home Furnishing Co. I MAIN STREET TELEPHONE 46 I co.if?f>v 9m KORNEGAY FUNERAL HOME ? UuumtDutetm PHONE 103* CAM0EN,r6.C v " 1. AfiV f\,' * ' a?; A'.W,V'I'""'"!> .. 1 . m' ^ GRANDMOTHER'S SLICED BREAD * 5c I POPULAR BRAN A- :?? ?; ?I^M CIGARETTES & 10c ??t 1 PLUS TAX k *?J?^TAX *<X= Il WHOLE MILKl CHEESE u. 15c J IPHLMOLIK j SOAP "! ! '<p - -j Cake 5C 1 rnmmmmtmmmm l f | II ? II l l I < <* Carolina. DlPlf I EC 24 ox.""jf" CT Swoat Mixed If V l? Lt v J ar' ^maxo' SOUP 6 25c J ^ DEL MONTE PRODUCTS I ASPARAGUS TIPSr^cL,15c ? PEACHES 2"T27c 1 FRUIT SALAD 2 lgJ 25c fl [PEARS 2 ir. 35cI 1 2 IN 1 POLISH, can, 12c | SUPER SUDS. 2 pkg*. iBc IMTORTED BEER Bottle 20c 1 No boflle deposit required. Maxlntnqv sale IS bottler t? V. customer. ' .-ia -i' ? ' MARKET Roast Beaf. lh. 12Vtc Veal Chop*, lb. ..i#/... 15c Shoulder Lamb Roa*i 15c Lamb Stew, 3 lbs for 25c Pork Liver, 3 lb* for ..25c Pig Tail*, 3 lb* for .... 25c PRPPUCE > Golden Bananas, SIb? 25c I M Stringl?u Beans, 41b* 25c I 1 Large Celery, stalk .. 10c I Red bliss Potatoes 31b 10c I J Green CoA, per ear .. 5c I Yellow Squash, lb 10? 1-9