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Camden Chronic f i 111 1 J^jA^WMPAY, JUNE X, 1$33 . ~ NUMBER 10 ' 'IH list Of New Laws As To Kershaw County While it has been no little task to . g0i aiut while we assume no re.ponsibilitv for any mistake* irv their ' ^production here, we have assembled i the local Acts cause<l be Pa88e<1 by the Kershaw delegation at the Jagion of the General Assembly jus? closed, pertaining only to Kershaw county, for the enlightenment of the readers of this paper. We believe, it ,o bo the duty of every citizen of ;th0 county to acquaint himself or herself with what has been (tone, at least loyally, by thg men chosen to represent us in the legislature, and we are sure that these gentlemen desire the full publicity of their doings that we are giving. iSome of the measures at least are of great importance and should be carefully studied. It is, of course, possible that some errors or omission# may haVe crept ip, and wo will be glad to make cor-j rtfflons if our attention is called to any mistake# before we go to press next week. County Supply Bill That a tax not exceeding five mills is hereby levied on all the taxable property in the county of Kershaw for ordinary county purposes fur the fiscal year beginning January 1, 1933, the same to be expended in the payment of the amounts and for the purposes hereinafter stated, and the gasoline and insurance tax paid to the county from the state is hereby appropriated for the same purpose. Roads, bridges, convicts and maintenance of road working organizations, gasoline and gasoline distribution $18,000. Clerk of court $800, deputy clerk of curt $750, sheriff $1,800, deputy sherifT $1,200, superintendent of education $1,400, treasurer $600, auditor $600. judge of probate $600, coroner $240, janitor of jail $360, janitor of court house $300, four county directors $800, clerk to county directors $100. Camden magistrate $750, Camden constable $480, Bcthune magistrate $360, Betbune constable $200. Blanev magistrate $36<Tj Blaney K constable $200, Kershaw magistrate $360. Kor>haw constable $200, Upper | Flat Rock magistrate $180, Upper Flat Rock constable $100, lx>wer Flat Rock magistrate $180, Lower Flat Rock constable $100, Upper Wateree magistrate $180, Upper Wateree con_stable $100, Kershaw Guards, Co. M. 118th Inf. $200, James LeRoy Belk Post American Legion $100, James LeRoy Belk Post American Legion Service Officer $200, County Board of Education $100, County Board ofj Equalization $200, County Board of Registration $150, jail expense, including dieting of prisoners $1,750, jurors ar.d witnesses $3,000 (provided that jurors shall be paid $2.00 and. mileage per day and witnesses 50c j and mileage), stenographer fifth circuit $!00, county home, poor house and po<?r $1,500, Associated Charities for sup; ri of Kershaw county orphar.a. f post morterns, inque<t a- ' lunacy $100, - (provided that the fees of probate judge and ^ physician shall not exceed $2.50 in: lunacy The county health physician -hail bo used in these cases.) | Public buildings, including water and light, fuel and insurance $800, printing, po-tago and stationery $800, | (provided that expenditure# shall be Paid only on request and approval of Board County Directors. They shall po*t rr r.'hly expenditure# of county board <board at court house.) Mis-j ce!!an<<.u. contingent $1,000, vital statistv $261.25, county health unit U *<?>. Attorney $250. Th" county health department is expect< d *o carry on the usual duties of ? ;-hn organization. Included in *U'.h duties will be the giving of ty-1 phod ar.d smallpox vaccine to thej People of the county, the examination ?f pro--<hool and school children, the' training (,f mid-wives, sanitary ?ur-| Ncy. correction of water supply and J excreta dispo#al, mosquito arid fly j control, ?he use of all means of pub-j "city, stjoh as newspaper articles, taiks iK'fore the schools and public; gatherings. The county health officer shall have! additional duties of looking after the[ treatment and diagnosis of jail and, chaingang patierfts and that of per-i ormirg the lunacy examination# for of the doctors in such cases, and ats? to do the post mortem etaminam hehalf of county and state ?r such cases as in Kershaw county* The duty of the health officer shall . ^Inrged to treat and diagnose such the county thai nay be able to receive the necessary treatment from any other physician and such case to be looked after by health officer upon the permission of the local doctor in the community the patient resides or is found. Provided, however, that the duties prescribed in sub-item next above shall not interfere with the duties of preventive medicine prescribed in sub-item first aboveAudit county books $300 (provided, that the auditor employed to make this audit shall bo selected by the county delegation), traveling expenses foT farm demonstration agent $300, travelling expenses for homo demonstration agent $150, lights, insurance, keepers, maintenance bridges $4,000 (provided that the bridge keepers shall not rceeive over $75.00 monthly. The sheriff shall receive in addition to his regular salary, his necessary ' expenses and five cents per mile for each mile traveled in going and returning w^jen called beyond the limits of the county on official business, to wit: Searching for fugitives, conveying prisoners to the state reformatory and conveying criminals to the penitentiary. Ih addition, the sheriff shall also receive twenty-five cents fqr committing and twenty-five cents for discharging each prisoner^ and thirty-five cents per day for dieting each prisoner for each day or fraction thereof while detained in the county jail, or otherwise in his custody. i That the sheriff be allowed five hundred dollars, if so much be necessary, for criminal work done outside of the county, payable upon his order itemized. The board of directors of Kershaw county is authorized and directed to borrow for the use of Kershaw county, for the payment .of the items above appropriated, the amounts needed to provide for the.payment of the same, and shall have no right to borrow for county purposes, or pledge the credit of the county, in excess of the total amount of the above appropriation, except that they may borrow for the renewal or extension of existing indebtedness as may be needed for that purpose. And the said board of directors are authorized to execute notes or other evidences of indebtedness for the amounts borrowed hereunder, and are empowered and directed to pledge for the payment of the same the full faith and credit of Kershaw county and the taxes levi for the current year and all other funds from whatsoever source coming into the hands of the treasurer and applicable to county purposes. If any emergency shall arise fo the expenditure of. a greater amount than hereinabove provided for any purpose the increased or additional expenditure shall be made only with the approval of the legislative de.egntion, and when any expenditure is ,o authorized and approved, the board of directors may borrow to the amount necessary for the payment thereof. All funds from whatever sourc: , other than the taxes levied for the current year, together with gnsohne and insurance taxes from state, com ing into the hands of the treasurer , and applicable to county purposes, shall be held for and applied to the payment of the note and interest indebtedness of Kershaw county to the sinking fund as the same shaHbecome due until the whole is pa - tk*. of five hundred dollars, u ,o^r* preprinted to U J*ld ?P?n 'fthe county te*W?tiv? delation **f r^-r? p V.i, ' ?x% in tho conduct of the affairs of the county. The county board of directors is hereby authorized to expend not to exceed tlfree thousand dollars from any fundfe coming into their hands, for repair of the county equipment which was transferred from the former board, in bad repair. The county treasurer of Kershaw county is hereby authorized and directed to refund to H. D. Green, county agent,. the sum of $42.13, expense for work done outside of county, which sum is hereby appropriated. Sinking Fund Commission Be it enacted by the General % Assembly of South Carolina: There is hereby created a Coun/ty Sinking Fund Commission for Kershaw Coun-< ty. The said commission shall be composed of three members who shall be appointed by the governor upon recommendation of the Korshaw. county legislative delegation, and the appointments shall be subject to ratification 'by the state senate. The term of the members-of'the commission shall be six years, jfrovided, however, that at the first election of said commissioners the delegation shall designate one member to serve for two years, one member to serve four years and one member to serve for six years, so that thereafter the I term of one member of the commis' sion shall expire every two years. Provided further, that in the event of a vacancy occurring during the term of office of any commissioner, the said vacancy shall be filled for the unexopired part of the term in the same manner as provided above, but STiPPld 'such vacancy occur while the general assembly _js not in session, the appointment shall be subject to ratification by the senate at the next succeeding regular session of the general assembly. The compensation of the members of the said commission shall be fixed by the Kershaw county legislative delegation. Each member of the said commission shall be bonded for the faithful performance of his duties ns hereinafter set forth in the amount of ten thousand dollars* The premium on said bonds ! shall be paid out of sinking fund monies in their custody. Sufficient space phall be provided in the Kershaw county court house for filing the records of the commission, or as shall be necessary for its activities. The commission shall elect one of its members as chairman, ami one of its members as clerk. The commission shall hold regular meetings once in each quarter, or more often, if necessary, and shall meet upon call of tho chairman or any two of its members for the transaction of necessary business. Within thirty days after the approval of this act, commission jshall be selected Sfr provided above. Immediately upon .their qualifying, the commission shall take over nil ^ a'&h ami all investments of every nature representing accumulated1 sinking funds of all county bond issues and ali ischool district bond issues of Kershaw county. All cash shall be deposited by the commission in some benrk or banks, the selection of which shell be left to the discretion Ehe* cdrffTftlssion, tot that said banks must aUow interetert on all deposit* with them at a rate to be agreed upon by the commission and the Provided, however, that aT.* V rJ * " *?"n * kl '. S.'1 ** ' - i .' ' banks so selefcted as depositories Shall be required to place'--yd th the commission a sufficient amount of collateral to insure the safety of Said deposits. Such collateral as may be taken by the commission as security for said deposits shall be limited to obligations of the federal government, obligations ctf the stale of South Carolina, obligations of the county of Kershaw, or obligations of any of the several school districts of Kershaw county. When it shall appear to bp or~ad1' vantage, the commission may invest such cash funds as they have in hand1 by purchasing outright and holding any of the obligations named above, i Provided, that investments taken over by the commission at the creation, of said commission shall be converted into cash or into obligations as enumerated above as rapidly as is possible in the judgment of said commission. The commission shall keep true and permanent records of all odf its transactions, including the receipt and disbursement of all funds and the collection of all obligations due the commission, either interest or principal, and s'hall also keep a record of all bond issues of Kershaw county or the school districts of Kershaw county, which shall show the number and amount of outstanding bond issues, and the amount of cash or investments held in the respective sinking funds for their retirement. A full and complete report of all transactions, together with a list of bond issues, with the amount of sinking funds applicable to each, shall be filed with the clerk of court of Kershaw county as of June 30 and December 31, each year. Approved May 10, 1933. An Act to Borrow $100,000 Be it enacted by the General Assembly of South Carolina: That for the purpose of retiring certain outstanding obligations of Kershaw county the county board of directors of said county are hereby authorised to borrow in the name of said county a sum of money sufficient to retire | said obligations not to exceed one J hundred thousand dollars and to issue in the name of said county their note or notes in such denominations and with such dates of maturity not to exceed five years. All such notes to bear' interest not to exceed six per cent. The proceeds of said loan shall be used exclusively for the purpose of retiring outstanding obligations of Kershaw county. w The note provided to be issued under the terms of this act shell be valid and bmdirg obligations otf the county of Kershaw and shall be exempt from all taxes*y(?ta*e, municipal or otherwise. That in order to provide for the payment of Che aatd note or note* together with interest thereon the said board of county directors is authorised to pfeVe irrevocable any (Continued on page two) ' 1 j ? Civil Court Jurors to Serve June Term The following men havt? been <h*aiW'ii as jurors to serve in civil court to convene in (Vmdun on the third Monday in June, being June 19, with Judge W; 11. Townsenid, o.f Columbia, presiding: O. M. I<aney, R. B. DeLoache, Wiley Sheorn, It. P. Billings, D. M. l)avia, Robert B. Biiyther, M. L. HanCock, C. G. DeslOha-mpsy W. Craig CQ'yburn, A. B. Boy-kin, E. A. Parker, W. D. Thompson, R. J. Munn, B. R. Truesdale, Camden; H. '/>. Broughrton, S. C. True&dale, 1>. F. Owena, J. H. Barfleld, Jr., John H, Clyfcuni, Westvil'lc; J. M. Branhaart, F, M. Jones, Karl T. Rosbo rough, Mitchefl B. Kaboru, J. L. Ford, J. W. Bfawh&rn, I-ugofT; H. E. Williams, Jr., J E. Coats, Sr., Ira B. Catoe, J. W. Rowel 1, J. E. Mobley, J. E. Carson, H. C. Jones, Henry Stroud, A. T. Gardner, L. S. Brown-, Kershaw; M. C. Hall, Bethune. Suits Are Brought To Test New Act Two suits have been instituted by taxpayers vthie week against J. H. j MvLeotl, sheriff, S. W. Hogue,, treasj urer ami B. K, Sparrow, auditor, to i test the validity of the Act providing for tW? extension of time of paying delinquent taxes by the owners of real estate for ten years. One of these actions has been brought by Henry T. llorton, who allege^ that he owns no real estate but owns personal property, ami that the Act discriminates against him and all others ; similarly situated; the other action | was brought by J. 1>. Watson, who alleges that ho owns real estate and that he has already paid his taxes and the penalties, and that inasmuch as the Act takes off the penalties on the delinquent landowners, he has been discriminated against. Mendel L. Smith and Murdoch M. Johnson represent the plaint iff a in these suits. They have secured a temporary restraining order ami are asking for a permanent injunction against the sherilT and the other officers. The outcome of the case will be watched with much interest. New Motor Fuel Named Essolene The introduction of tbe now motor fuel Essolene to the public at Esso stations on Juno 2 is one of tho major steps in a now marketing program whioh is involving tho expenditure of several millions dollars and giving employment to many workers, according to H. E. Hoard, JocalmanuKer of tho business of tho Standard Oil company of New Jersey. The program involves the re-identification of some 30,000 outlets as Es$> stations, hH\ated from Maine through I/ouisiana, and includes a large advertising expenditure, much of which' will- go to the newspapers. , Concerning Essolene, , Mr. Heard say** "1 naturally am enthusiastic about all of our products, but in Essolene 1 am jmsitive we have a highly unusual motor fuel. The tests indicate that it is the best regular-priced fuel on the market. The anti-knock quality is higher than in any regular gasoline and, among other things, Eosisolene actually reduces gummy deposits in an old engine. We've given the slogan 'Guarantees' Smoother Performance' to Essolene, and we're sure motorists will find that's so." A rod-and-wh itu^.color scheme will "distinguish the Esso Stations. All the pumps are iberiivg re-painted to eonform to this plan, and new signs are being erected. All of this work gives employment to many men and, in the opinion of Mn. Beard, is an indication of his iComparvy's attitude toward the future. E9S0 and Essolube, as well as Essolerie, will be available at all of the Esso Stations. Depositors Told Status Of Bank The following* statement has been furnished The -Chronicle by the committee from The Bank of Cwwden relative to the reorganisation of that bank: y Two week# ago, there appeared in this paper a statement of the plan for reorganization pf the Bank of Camden. This statement was ad-,, dreeeod primarily to the stockholders of the bank iuu} not to the depositors. Now since a sufficient number of the stockholders have approved the proposed plan, entitling it to submission of the -State Board of Bank Control, in Columbia, the committee working for the reorganization is looking forward to the submission of it to the depositors. However, the enormous amount of work eiwolved in getting this plan ready to put before the depositors and the many legal complications involved will probably defer its submission to them foi yet another month or more. But there are so many misapprehensions afloat and so much interest being evidenced by the depositors that this statement is made to set before thorn as clearly as possible how they will be affected by the plans of reorganization, and these .plans include payment by Mr. H. G. Garrison, ,Sr. of $50,000, and a payment by the other stockholders o.f an amount equal to 50 fper cent of their stockholders liability. This should net t)he bank about $85,000, which of course is put up for the (benefit of the depositors. Most of this money will have to be used along with the liquid assets of the bank to redeem the paper held by bank8 from which the Banlk of Camden borrowed. Of course, this is the first move ,to be made in order that these assets may be gotten back into I the hands* of the Bank of Camden. These assets are quite sufficient, given ay-thing like normal times, to pay out -the bank's liability in full, but they are hot such as can be converted immediately into cash. It will take time and a going institution to liquify them. To give the necessary time for the conversion ot these asinfo cash, and at,the same time to nive the ^depositors the control of the situation, it is proposed that each depositor shall for his deposit take stock in the bank in the proportion ( of one share of stock of par value, $10 for each $60 of his deposit. While this stock would only have a| par value of $10 per share, it would ^ have a book value of something morel than $60 per share. The low par Value is set up to keep the capital stock at a minimum for tax purposes and to minimize the danger of any future stockholder's liability thereon. Then, as the assets of the bank are converted into cash, the money collected will be periodically paid out to these new stockholders who wcro the depositors. For example: John Doe had a deposit of $120.00 when the bank closed. Under the reorganization, he will be issued two shaies, $20.00 par value, in the reorganized bank. If the bank collects $50,000 on its old assets in a given period, then it would declare to th&se new stockholders a 100 per cent dividend on its capital stock. This would give John Doe a $20 dividend on his two shares, which would amount to about 17 per cent dividend on his deposit. This process would be continued until John Doe shall have received all of his deposit save the $20 which would be represented by the bank stock held by him. Of course those depositors having under $60 could not be issued stock. They would receive their deposits in fulL Likewise, any odd amounts, say between $00 and $120, or between $120 and $180 would be paid in cash for stock could not be issthed for these odd amounts. When the depositor has received these dividends on his &Uk k for all his deposit, save that represented by the bank stock, tho old stockholders and Mr. Carrison who have put up money to insure the reorganization will be entitled to have stock issued to them or a cash settlement made for so much of their payment as has not at lhat time been required to pay out the depositors. It is important .to consider a number of features of this plan. First among these is the fact that the reorganized bank will be entirely in the hands of the depositors. They will be the new stockholders and they will elect their board of directors *M their board of directors will select the new officer*. Another important thing to consider is the possible etoddholders Habil. * -*? 'i ity on the new stock issued to the depositors. This liability is only theoretical, for since almost all of | the deposits are to be converted into stock to the depositors, and tho asset? that tftood1 back of these ? deposits will be transferred to an undivided profits account, the. bank as reorganized will have an extremely strong set up. Its liability would be almost, nil ami its assets would approximate $400,000. If the bank as? reorganized were to collect but $50,000 and pay that out to tho new stockholders in the form of a dividend then the depositor would have already received as much as the stockholders liability would bo in any event. His safety is further reinforced by the fact that there will remain one-half of the stockholders liability against the old stockholders of tho Bank of Camden, as they are not released by the reorganization, although it is not anticipated1 that it will ever be necessary to call on them for their additional 50 per cent liability. To realize the proposed reorganization 75 per cent of tho depositors must consent to it. Lt is probably not inappropriate V i here to state the advantages this plan has over receivership; they are as follows: Under a receivership, the legal liability of Mr. Carrison is $12,000. Under this plan he is putting $50,000 into the bank. | Unless used by a bank, the bank building can be valued only as ordinary business property'. For use by a going bank, it is worth a multiple of its value when not so utilized. <9*" In case of receivership, it would be impossible to promptly pay off the '& borrowings of the bank from other , banks. These creditors of the bank hold assets of the bank in double the (^mount that is owed them, under contracts that permit them to sell these assets at public or private sale with j or without notice. . Lf they were put up for sale, the bank could not pro- '''$M tect and probably woukl get nothing, and an enormous loss to the depositors would resuK. The fact that 50 per cent of( the old stockholders' liability will remain outstanding will act to insure tfie success of the reorganized bank for these old stockholders will naturally be interested in the success of the reorganized bank in order to avoid the necessity of any ftxrther assew It is common that tho good will and the prospect of future accommodations makes a going bank 4 a vastly more gjjflfe -nlWtni Ham * a dosed bank. To fprce a liquidation of the Bank of Camden upon our community would be disastrous to its Forestry Meeting At Mt. Pisgah On Friday :| The following article is signed by Charles W. Nuite, county forester, ami Henry IX Greed, bounty agent: Plans ure under way for tho erection of a Are lookout tower and the establishment of a forest ranger district somewhere in the northeastern section of Kershaw county vand the tpcoipie in t'he general Mt. Pisgah sec- 1 tion of the county and of the northern Bothune section are requested to meet at the Mt. Pisgah high school Friday night, June a, at 8 o'clock, in order that tho definite plans may be formulated and an understanding may he reached between the 'people \ _'?! of that "section of the county ami tho county forestassociation. If the new forest ranger district can bo established with lookout tower and necessary equipment it will be of great value to the pooplo of that general section of tho county ami will reduce to a .minimum the forest tires on the area signed up for protection. This is an opportunity for the people of that section to identify themselves with the county forestry program. Therefore, we urge that everyone interested attend the meeting at Mt. Pisgah high school - Friday ? night, June 2, 8 o'clodk. ?? * . iTI . $ Wrecked His Car Because of tho antiq^ of a' small boy driving a second-hand car ne$r Dulzell last [Sunday, J. 1>. Zewp, of the DeKalb Phanmacy, had his automobile ibadly damaged. The lad is said to have swerved his car at a car in front of tho Zctmp car and didn't take into consideration that a car was following and coukhrv't clear. The running board; forrdero and twa tires were crashed on one side. For- -cjg tupately no one was injured.