The Barnwell people-sentinel. (Barnwell, S.C.) 1925-current, March 31, 1932, Image 6
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PAGE SIX.
THE BARNWELL PEOPLE-SENTINEL, BARNWELL, SOUTH CAROLINA
THURSDAY,
BARNWELL 50 YEARS AGO.
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Interesting Items Gleaned From the Files of The Barnwell People.
MARCH 30, 1882.
Court House Notes.—Liens and
mortgages come in slowlyi
. Dr. Todd has been appointed In
spector in the Custom House at
Charleston and has gone to the City
by the Sea. Hi s family remains in
Barnwell for the present. (Ed. Note.
—Dr. Todd was the brother-in-law of
Abraham Lincoln and practiced medi
cine in Barnwell for many years.)
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Blackville^Major Steadman had
new garden peas and Irish potatoes
on Sunday.
Mr. C. E. Gyles has bought and
• wrill soon occupy the store house of
Mr. F. P. Groves, who i s building an
other east of his old stand.
Sherman, a favorite horse of Mr.
Simon Brown, died c n Sunday. He
was left in Blackville by Sherman’s
army and was about 27 years old.
Senator Lartigue la in Charleston
superintending the repair g of The
^Citadel Academy.
The coming ball of the Comet
Band is the favorite subject of con
versation among the young folks.
Read and Reform.—It i 8 extremely
distressing to people of: refinement to
see a man sit in church with a quid
of tobacco in his mouth and continu
ally spitting on the floor or against
the wall. The Lord’s house is no
place for indulging in such a filthy
habit, and the sacredness of the place,
if nothing else, ought to be a restraint
to tobacco chewers.
Railway Improvements.— Bulletin
boards g.ving the time of the arrivals
of pa*senger trains have been put up
at all station,, on the S uth Carolina
Railway,
The depots at Midway, Grahams an!
Wil’isto.n are to be enlarged, and de
pots will h,, built this summer at Lees
and Elko. Sign boards have been
put up at all crossing-'.
Williston.—Wheat has commenced
to head, mst has appeared in oats
sown on poor land, fruit growers fear
an Easter frost and 500 acres near
town will be planted in watermelons
this season.
At a colored sociable on Saturday
night, Calvin Kennedy’s arm was
broken by a blow from a garden rake
in the hands of an honored guest, and
Sarah Kennedy’s head wa 8 cracked
by an expert in the use of an iron
poker.
Married, on the 15th of March, at
the residence 'of the bride’s parents,
Mr. Edwin C. Tobin, of Barnwell, to
Miss May Connor, of Orangeburg.i
An Orangeburg girl, who was vac
cina ted with virus from the arm of a
certain young man, is acting strange
ly indeed. When sitting on the » fa
idu* unsized w.th un irr(*sis*-tbl k . m-
pulse to place the inoculated arm
around her own neck. One of our
physicians says it is (be fir*t case of
the kind that has ever conje under his
observation. • \ a-
ADVANTAGE IN EXCHANGING
DEPOSITS FOR ASSETS IN
BANK OF W. C. LIQUIDATION
(CONTINUED FROM FIRST PAGE)
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Another thing—every thinking and
well-informed person should carry the
thought in mind that the purchas ng
power of 50 cent< today not only
equals but in many instance* <t*cecds ; of at | em . t
the purchasing power of $1 cn'y Pi
or 18 montha ago. This applies to
many items which are among the
necessities of life. To proceed a little
farther with the illustration, which is
certainly applicable, when items other
than actual neccaaitie* are considered
the purchasing power of 50 cent* is
t day, in any in*tance*, the equivalent
of the purchasing power of $2 and
more 12 and 18 month* ago. Anyone
who has accepted the privilege of ex
amining th e rec rds and of studying
th* assets of the Bank of Western
Carolina, as the oditor of the Standard
ha* done, will doubtless reach a simi
lar conclusion—that the depoa.Lura > f
this institution are receiving some-
tor* and 7,000 debtors and one
lecter f r this enormous overheaif
this sy-tem put* into execution anew
exchange idea of 7,000 collectors
handling 7,000 debtors and the 7,000
collectors (the depositors) saving the
coat and getting the benefit. This
improved method is, however, nothing
more than the application of improved
commercial machinery operating for
the benefit of the depositor to the
twice the amount
that he could conceivably receive in
fiv p years’ time under the old system
of liquidation.
All of which means, in the opinion
of the editor of The Standard, that
depositor* of the Bank of Western
Carolina are getting 50 cents on the
dollar for their deposits, and getting
it today, instead of waiting for five
years, at the expiration of which time
they might, with gi cd luck have got
ten 20 to 25 percent under the old
and antiquated .-‘ystem of liquidation.
Liability Payable .
in Cash, No Offset
Law on That Point la Specific.—Num
ber of StockhcJders Have Al-
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ready Made Payment.
Call on Bank of Western Carolina
Stockholders for payment of their
liability under the law was issued last
week. Already a number of stock
holders have made payment and other/)
are arranging to do so promptly, i
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Th e receiver of the bank now in
liquidation takes no pleasure in issu
ing this call. To the contrary, Mr.
Tarver expressed himself to the effect
that the assessment. of stockholder^
liability is the most unpleasant and
disagreeable feature of the task he
has before him, for not only does the
stockholder lose the value of his origi
nal investment in the bank’s stock,
but he is called upon for a 100 percent
assessment in addition. But it should
be understood and appreciated that
the receiver has absolutely no discre
tion in the matter.
Th e l aw on the subject is definite
and specific. Quoting from Section
6, Acts of 1929:
, “And upon failure of any stock
holder to pay into his (the re
ceiver’s hands) such liability, he
i 8 hereby invested with full power
and authority to bring suit, either
individually or collectively, against
sych stockholder or -tockhclders.
for the collection cf such liability
and all fund* received from said
assessment by payment with or
witbuiit aiait ahaII - be. kept a
separate fund to be paid to Utt?
depositors aclely.”
There has been some confusion on
the point as to whether a stockholder
can ( ffset his liability asse-sment w<th
a deposit, or in any other way. Un
fortunately, under the law, this can
not be done. Stockholders’ liability, it
is provided, must be paid in cash. The
law specifically provides that such
funds >hen collected shall be kept
as a m p-tiate fund and paid to the
depositors. Under the law the re
ceiver cannot even use this money,
or any portion of it, to pay the
salaries of agent* and assistants.
The law with regard /ttockholders’
liability applies in practiegUy every
State in the Union, and there'is noth
ing new about it. It has been the law
for many years, and there is a fed
eral law of similar provision apply
ing to national banks.
Easier in Barnwell.
Local and Persona]
News of Blackville
thing like 50 percent more for their
deposits than they could have possi
bly received in five years’ time on any
old system of liquidation, and they
are not on’y individually fortunate in
this respect, but the splendid benefit
will assist greatly in rehabilitation of
the four South Carolina counties in- *
volved. This effect will be more far-
reaching as the plan of liquidation
which has been adopted will unques
tionably save the depositors cf the
Bank of Western Carolina first and
last from $500,000 to a million dol
lars.
The advantage of this system is*
primarily that values become negoti
able and exchangeable at once. In
other words, this system, as already
stated, is an entirely new one, but
that it is certainly a thoroughly prac
tical one can best be illustrated in
that what is being done is that prac
tical mechanics are being applied to
values, which under the court’s orders
have become negotiable. The result
can be compared to any improvement
in labor-saving machinery.
For instance, years ago one man
and one machine turned out in a day’s
time a few pairs of shoes. By the ap
plication of modern and improved
machinery—with which all are famil
iar—this same man with a new ma
chine (which is nothing more nor
less than a new idea) turns out per
haps thousands of pairs of shoes.
The result is that the cost of manu
facture has been ^enormously reduced,
overhead charges of all kinds have
been eliminated or absorbed, and that
the product is selling to the consumer
at an enormously reduced price. This
illustration applies to the system be-
t> i .ite
of Western Carolina. A new plan lias
-been evolved, in which about 95 per-
eent of the expense of liquidation,
ikoot 95 percent of the overhead of
liquidation and about 95 percent of
the long drawn-out delay of liquida
tion has been absorbed in a thorough-
Jjf practical way. With 10,000 deposi
B'ackville, March 26.—Mr. and
Mrs. Marion Hay and two daughters,
Mai gait and Betty Hay, cf Char
leston, spent last week-end as guests
of Dr. and Mrs. O. D. Hammond.
Saturday evening the guests were
honored by an oyster roast. Those
enjoying the feast were Mr. and Mrs.
C. R. Boylston, Mr. and Mrs. A. H.
Ninestein, Mr. and .Vjs. G. F. Posey,
Mrs. S. B. Rush and Miss Nell Nine
stein.
Tue-day afternoon little Jack O’
Gorman, son of Mr. and Mrs. Farrell
O’Gorman, entertained several of his
friends in honor of his third birthday.
Guests incuded Billy and Charles
Carroll, Jane Hammond, Marinna and
A*hby Millner, Somers Pringle and
Wyatt Browning. Easter decorations
lent a festive air to refreshments and
favors. Mrs. S. B. Rush assisted
Mrs. O’Gorman in entertaining . the
little folk.
Colleg e student? who are spending
the spring holidays at their homes
here are as follows: From Winthrop,
the Misses Mary Cornelia Coggin,
Myrtig Martin, Isabella Murphy, Em
mie Lou Hair and Katherine Weissing-
er; from Columbia College, Miss
Kathryn Matthews; from The Cita
del, Sam Mathis; fftfm Carolina, Le-
Roy Lancaster, Herman Hartzog and
Ted Ninestein; from Agnes Scott,
Misses Janice Brown and Hettie and
Etta Mathis.
Tom Bailey, of Moultrie, Ga.,. is
the guest of his sister, Mrs. R. ,A.
Gyles. Mrs. Daisy Bailey, of Severn,
arrived. Thursday to spend the week
end guest of . Mrs. Gyles also. .*
Mrs. George Magruder was hostess
_the members^
Bridge cltrbr ifrr"'
ceiyed highest soor e prize and Mrs.
Herman Brown cut consolation.
The, concluding lecture of the Mis L
aion Study class on “Stewardship and
Missions” was delivered in the
ladies’ Bible classroom Monday after
noon in the Baptist Church by th«
Except fer -pecial sePHces in s^me
of the local churches and the oppor
tunity presented to th? fair sex to
display their new spring finery,* Easter
in Barnwell we* just another dis
agreeable March day. The skies were
overcast part of the time and by
early afternoon there wa« quite a
high wind blowing. "’“Fnrty Sunday
night the wind had assumed gale-like
proportions and is thought fo have
been the tail-end of the cyclonic
storms that swept parts of Alabama
and Georgia, leaving death and de
struction in their wak e in these two
States. Fortunately, however, no
damage was done in this immediate
section. Seven persons, were killed
in Alabama and one in Georgia, scores
were injured and great property dam
age wa* done in practically the same
sections that were swept by torna
does le-s than a week before, when
362 persons were killed and many
were injured. Federal aid is being
sought for the people in the streken
areas. One person was also killed
and eight injured by storms near
Richmond, Va.
Don’t Get Up Nights
Make This 25c Test.
Yru need this easy bladder physic
to drive out impurities 'And excess
acids which cause irritation that re
sults in leg pains, backache, burning
and getting up night?. BU-KETS, the
bladder physic, containing buchu, juni
per oil, etc., works cn bladder pleas
antly and effectively as castor oil on
the bow’els. Get a 25c box (5 grain
size) from your druggist. After four
days, if not relieved of getting up
nights go back and get your money.
You are bound to feel better after
this cleansing and you get your regu
lar sleep. Locally at The Best Phar
macy, Barnwell, S. C.
AGENTS
AIKEN BRANCH, W. W. Muckenfuss; W; O. Jones
BARNWELL BRANCH, Perry A. Price
BLACKVILLE BRANCH, T. L. Wragg *
SALLEY BRANCH, L. A. McMillan
ELLENTON BRANCH, John C. Watson
WAGENER BRANCH, E. L. Richardson '
NORTH AUGUSTA BRANCH, O. B. Whaley
JOHNSTON BRANCH, W. W. Rhoden
LEXINGTON BRANCH, Loui 8 Rogers, Jr.. .
BATESBURG BRANCH, J.’B. Ballentine.
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Aiketo, S. CT., March 23, 1932#
To All Debtors of the Bank of Western Carolina:
The Order of the Court issued by Judge Dennis
under date of Mar©fc-14, 1932, directing the Receiver, reads
in part as follows:
"In the interest of the depositors,
the Court directs the Receiver to immediately
call upon all debtors of the bank, except
those whpse notes are-purchased through the
exchange plan, to make prompt settlement of
the amounts due the bank; and, in the event
an obligation, in the opinion of the Receiver
is not properly secured, he should insist
upon additional collateral*"
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This plan offers to those who owe the bank a
practical opportunity to take care'of their indebtedness
without hardship. Your note is being offered to the putlic
^irrr^hn» nn^niiia fftQ bank, but instead of calling
on you to pay the cash mnney, you are given tHe. privilege •
of arranging with some depositor of the Bank of Western
Carolina to take over your note on a basis under arrange- .
ments mutually satisfactory to you and the other party.
. The plan is entirely a new one and if you do ‘
not thoroughly understand it, please call on the bank's
local agent, who was the former manager, and he will re
ceive you courteously and explain in detail.
We are anxious to collect your note in cash,
but the Courts have authorized the above arrangement for
your convenience.
Receiver, Bank of Western Carolina.
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To Our Customers:-
The People-Sentinel stands ready and willing to meet any
reasonable copetition on job printing by out of town printing con-
cerns, quality and quantity of work considered.— All that we ask is
that you give us a chance to meet this competition before placing
your orders elsewhere.
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Quite often buyers of printing are misled into thinking that our
prices are much higher than those of out of town concerns when in
fact they are as cheab or cheaper. For instance, a customer was
jf quoted a price on 2,000 billheads. He then asked us for a quotation
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on 1,000. Our price was based on Hammermill Bond paper in sin
gle thousand lots, whereas the out of town concern quoted a price ^
on a cheaper grade paper in lots of 2,000, plus postage to Barnwell.
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Naturally, our price for 1,000 billheads on a better grade of paper
was higher, but we could have printed 2,000 on the cheaper grade
at the price quoted by the out of t6WA uliiceiii. —^—-r—^—— ,
Remember that there are just as many different grades of paper
and printing as there are grades of cotton and that the quantity
ordered also governs the price. So dorr t be misled when yoi^ are given
a quotation that seems much lower than ours. And don’t expect us
to print orders for 1,000 at the same rate per 1,000 based on
quotations of 2,000 or more. - — - .
m ^ imu -. _ f! '‘**Z%*
And also remember that it pays to keep your dollars at home
—otherwise your home printer will not have any money to spend
with you.
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Th e public i*. invit-
•qJ^ OtA«r muaic has also
bean arranged. < .
. The pupils of the first and third
grades under Miss Dorothy Neil and
Mbs Caroline Richardson enjoyed an
Easter «gg hunt Friday afternoon.
SOUTH CAROLINA