Historical Newspapers of South Carolina

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THE OFFICIAL NEWSPAPER OF BARNWELL COUNTY- lidated Jqm L 192ft. People-Sentinel M Ju«t Like, a Member of the Family” VOLUME LV. BARNWELL SOUTH CAROLINA. THURSDAY, APRIL 7TH, 1932. NUMBER 22. Levy for Ordinary County Purposes Removed o Good Progress in Bank Liquidation * _ » •*** ' Depositors, Debtors and Public Quick to Realize and Avail Themselves of Advantages. Liquidation cf the Bank of Western Carolina i s progressing at a very satisfactory rate. The new plan ha? its very strong appeal to th e public, and there has been satisfactory re sponse, which is increasing each day. This is no surprbe when the distinct advantages to the depositors and debtors of the bank, including the in vesting classes, is taken into con sideration. Under the old plan of liquidation a depositor could only sit down and w r ait for what he might get in dividends through the sale, forced or otherwise, of the bank's assets. If the sale were forced there would be little in dividends. If time exten- jns w'ere granted debtors ther e was way cf determining in advance Ivhat would eventually be the dividend paid. Debtor? were given no oppor tunity to trade to advantage. But the advantages of the new plan have already begun to impres s themselves upon everybody concerned. For illustration, during the past few days a well secured note for $1,- 000 held by the bank was bought by a certain gentleman who possessed the keen perception cf realizing the po?sibilities of the new plan. This note bore interest at 8 percent and falls due next April. The purchaser went into the market and bought de posits at 40 cent? on the dollar, the present market price. The $2,000 in deposits cost him $800. On April 1st, next year th e holder of this note will collect: Principal $1,000.00 ' Interest 80.00 Seen and Heard Here 7~ During the Past Week A Little Sense and Nonsense About People You Know and Others You Don’t Know. Annual Services at Old Sheldon Church Bishcp Kirkman G. Finlay, of Colum bia. Will Preach in Historic Ruins Next Sunday. A total of $1,080.00 All he has invested, however, is $800. He is therefore making $280 on the transaction, or 35 percent -on his money in 12 months. There are many good notes offered by the bank at 7 and 8 percent. A 7 percent paper for $1,000, running twu years would, on the same basis ag the above illustration, cost the purchaser only $800. He would receive in two years interest amounting to $140, or a total of principal a nd interest of $1140—a clear profit of $340, or 17 percent interest. With such possibilities ** these, it is no surprise that the investing class in addition to those individuals and ^^*ms who owe the bank is beginning ■B take advantage of the unusual op portunities offered. Who ever before heard of buying perfectly sound se curities which will return legitimate but unusual profits as 27 and 28 per cent and 17 percent in one or two years ? This, however, U what the plan, originated in Aiken, is making pos sible. It has already created a steady 40 percent cash market for deposits. The people throughout the section for merly served by the Bank of West ern Carolina are trading freely, buy ing assets of .the bank and using their deposit? at thear trade value of 50 percent in the purchase of mer chandise. Ther e is, as a matter of fact, no speculation, and the idea, if it exists, that the liquidation plan is one of speculation, should be dispelled. There is no invitation extended the public to come in on what might or might not be paid in dividends,^trat it i s all tra**d upon a straight out pur chase proposition. A man knows ex actly what he i s buying and! what he is going to get for hij( money,—how much principal and how much inter est. He also knows in advance ex actly what security he will hold for his money. He knows, .too, the man whose note he holds. The plan i s again demonstrating the old established fact that “nothing succeeds like success.” Within the past week the Salley ^Branch of th e Ban of Western Caro lina has been absolutely closed out, and the Salley bank—^including the •building and fixtures—is no longer a part of the Bank of Western Carolina system. The Salley branch, with all fcsaeta, has been sold to Rev. C. W. Jones, H. M. Sawyer?and L A. Mc Millan for approximately $60,000. A crowd of gentlemen of leisure watching workmen “put up” an awn ing for the Barnwell Fruit Company— and quietly drifting away when “Bonce” Dyches directed attention to their occupation. . . A little drug store talk about ba?eball, which somehow just doesn’t take the place of football. . . . Candidates’ an nouncement cards in The. Bamberg Herald—evidently on the theory that “th e early bird catches the worm.” . . . Rumors that there will be several. candidates in the race this * summer for the office of Mayor of Barnwell. A photographer making pictures °f the old Peacock and Lancaster build ing? that were partially destroyed by fire in October and have since been condemned by city council as unsafe. . . . Sheriff “Bonce” Dyches be ing made the butt of several practical jokes on April Fools’ Day. “Bonce” also tried to play a joke on his wife, but it proved to be a boomerang and cost him some real coin of the realm. . . . A large crew'd attracted by the howl s of a dog that had been struck by an automobile on Main Street. . . After being pronounc ed dead, the canine got up and stag gered off. Two member? of the fair sex try ing to drive a truck and having to enlist the services of two men before they were able to “take off.’ . . . “Bully” Harley telling about the time he had one of his negro share-crop pers plant “macaroni seed.” which turned yellow in the ground instead of sprouting. . . Asparagu g grow ers comparing notes on the amount cf “gras?” being cut—and the disap pointingly low prices being received. W. S. Grubbs, of Blackyille, and F. H. Dicks, of the Dunbarton section, calling at The People-Sentinel office tq_renew their subscriptions. . . , The town filed with smoke from near by woods fires—as if enough of that sort of thing wasn’t done during the past winter. . . Senator Edgar A. Brown with a new Buick car. . . . Mrs. G. M. (“Miss Jennie”) Greene turning the money she received for preparing farm loan application blanks into yeast for pellagra sufferers. The annual services at the ruins of old Sheldon church in Beaufort County between Yemassee and Beau fort, will be held this year as usual noon on the second Sunday after Easter, April l()£h. The services will be in charge of the Right Rev. Kirk man G. Finlay, bishop of the uppfr diocese of South Carolina. The Rev. John A. Pinckney, rector of the Churcr of the Holy Apostles, Barnwell, and. the Episcopal churches at Estill and Allendale, are expected to attend, bringing hi s three congrega tions. The Rev. Maynard Marshall, rector of the St. Helena church, Beaufort, has charge of the arrangement of the services. Special music will be ren dered by the choir cf his congrega tion. Every year there is a large attend- anc e at this historic old church, which Vas burned during the Revolutionary war, rebuilt, burned again during the War Between the States, and left in ruins. The brick of the original build ing were brought over from England. Each year the offering taken at the service there is used for the benefit of repairs. The arches hav e been strengthened and reinforced, and the plans on foot now are to build a roof. Everyone is cordially invited to attend the services, about which there is a solemnity and an uplifting effect, bringing peace to jaded souls. G. Malcolm Anderson Took Own Life Friday No Reasor. Given for Act.—Member of »• Barnwell City Council Laid to Rest Sunday Afternoon. Farmers Receiving Government Loans More Than 1,000 Applicants in Barn well County This Year.—Lear. Checks Coming In. G. Malcolm Anderson, age 32 years, merchant and member of Barn well’s city couptil, took his own life Friday afternoonr at 5 o’clock at the home of hi s mother, Mrs. Fletcher Anderson, of this city. Relatives and ftiends could give no reason for the act, though several persons quoted Mr. Anderson as having said earlier In the day that he wa 3 contemplating suicide. It is also reported that he had threatened cn other occasions to end his life. Unmarried, Mr. Anderson lived with his mother who was at the home of a neighbor when she heard the shots, Mr. Anderson being alone in the house at the time. Hayne Hogg was the first to reach th e body and found Mr. Anderson dead, the full charge of a shotgun having taken effect in the upper part of his head. It is believed that the gun discharged the second shot as it hit the floor. Besid^ his mother, Mr. Anderson is survived by two sisters and two brothers, Mr?. McMillan, of Olar; ABOLITION MADE POSSIBLE" BY ACCUMULATED SURPLUS Time for Payment of Taxes to Be Extended But Governor Disapproves of Defici- ency Judgment Measure.—Signs Appropristicn Bill. After signing the general appro priation bill and several other bills passed by the general' assembly in the closing hoprs of last week’s session, Governor I. C. Blackwcfod Monday afternoon vetoed the “deficiency judgment” bill^sponsored by Senator Taylor Stukes, of Clarendon. Early Monday Governor Black wood put his name on the bill to allow the establishment of cash depositories in the State. He held a hearing be fore he signed it', at which no one in person appeared to object to the measure. Senator P. H. McEachin, NOW REDUCED TO “THE IRREDU CIBLE MINIMUM.” No Taxes for This Item in 1932 Lf| Result of Strict Economies in Cour/y Government. « Just w'hat happens when “the ir resistible force meets the immovable body” has never beben definitely proved by science, but when taxes for ordinary county purposes are reduced “to the irreducibl e minimum” R is * matter for congratulation all abound. Which is just another way of laying that Barnwell County, which ia one of the few South Carolina counties operating on a cash basis, is the only county in the State which will levy no taxes in 1932 for ordinary county purpo?es, thanks to the efficient management of those who have been directing the county government for of Florence and Representative M. B the pa8t 8ever>1 year8 Hqggins, of Florence and M. F. Bu?b of Aiken, urged him to sign it. A. L. M. Wiggin s of Hartsville, president of the State Bankers’ association, wrote a letter to the governor saying tnat he did not believ p that the de- Miss Ethel Anderson, of Springfield, Positoiies could operate successfully Charli e Anderson, of "Elko, and Harry Sanderson, of Barnwell, who have the sympathy of \many friends in their tragic bereavement. Funeral services were conducted at the residence Sunday afternoon at four o’clock by the Rev. Mr. Wiggins, pastor of the Barnwell Methodist Church, and the body was laid to rest in the Long Branch Churchyard, Mr. Wiggins being assisted at the grave by the Rev. Mr. Payne, of Btackville. A large concourse of sorrowing rela tives and sympathetic friends gather ed to pay their last tribute of respect and Mr. Anderson’s last resting place was covered under a mound of beau tiful Spring flowers. W. B. Boynton. William Boyce Boynton, aged 53, died at his home near Ulmers, on Saturday afternoon, March 25th, at 3 o’clock. The deceased is survived by three brothers: Gordon S. Boynton, of Kline, Francis P. Boynton and H. Grady Boynton, both of Ulmers, *nd one sister, Mrs. Anna B. Kearse, of Ehrhardt. Funeral services were conducted by Rev. Sam Danner at the graveside at Saltkehatchie cemetery Sunday morn ing, March 27th. Interment followed in the Saltkehatchie cemetery, Hamp ton Undertaking company in charge. ADVERTISE in The People-Sentinel The deposittors ere 100 percent he- hand these gentlemen, and the man ner in which they have backed Rev. Mr. Jones, who was the active agent of the purchase, i 8 evidence of the high esteem and confidence in which he is regarded. The Ellenton branch ha 3 been 90 percent liquidated to date, and John C. Watson, the bank's agent there, has been transferred to Barnwell to assist tin liquidation there. J. W. Cox, a prominent attorney, of John ston, is assisting the receiver at North Augusta. The receiver %nd his attorneys are working at present on a plan, which they hope to be able to work out to the satisfaction of, the court, under which payment of stockholders’ liabi lity may be made with notes or a series of note 8 properly secured of course, running for one and two years, and in extreme case 8 of necessity for three years with 7 percent interest. Judge Dennis, it is understood, is in sympathy with the plan, but it is not possible at this time to state exact ly what may be done.—Aiken Stand ard. a More than 1,000 farmers in Barn well County have applied to the gov ernment for loans to operate their farms this year. The total amount applied for probably -runs between $125,000 to $150,000. At first there was a scarcity of blanks, but later on a generous supply was received and every one desiring a set of blanks had an opportunity to get it. The county agent and the county and local committees have spent a great deal of time in serving the farmers of the county. Every one interested should a pipreciate the way that the member 8 of the committees work ed and dbnated their time so genftr ously. They do not receive any pay for their time or expense. Loan checks are being mailed out at a good rate, as many aa sixty farmers have gotten checks in one day. According to the records com ing from the Clerk of Coftt^s office, between four hundred and- five hun dred checks have been mailed out, averaging about one hundred and fifty dollars each. Farmers are cautioned by the county ageht to be careful to carry out the provisions of their loans; that js, as to acreage of cotton, how the >money is spent, having a good gar den and growing a sufficient amount of feed and food. A representative of the Seed Loan Office has already been placed in this territory and will be here during/the entire year. His business wHl be to .see that farmers carry out their agreement with the government agd see that farmers pay what they should when they make the crops.—By H. G. Boylston, Co. Agt. Governor Signs Bill to Redistrict State South Carolina Now Has Six Congres sional Districts Instead of Seven as Heretofore. Visit State Capital. Governor Blackwood has signed the bill redistricting the State for congres sional purposes so as to prvide six congresmen instead of seven in ac cordance with the 1930 census. The new arrangement follows: First District: Berkeley, Charles ton, Clarendon, Colleton, Dorchester, Beaufort, Hampton, Jasper and Allen dale. Second District: Aiken, Barnwell, Calhoun, Orangeburg, Lexington, Richland, Sumter and Bamberg. Third District: Abbeville, Ander son, Greenwood, McCormick, New berry, Oconee, Pickens, Saluda and Edgefield. Fourth lIKstriqt: Greenville, Laurens, Stpartanburg and Union. Fifth Districts Cherokee, Chester, Chesterfield, Fairfield, Kershaw, Lan caster and York. Sixth District: Darlington Dillon, Florence, Georgetown, Horry, Marion, Marlboro, Williamsburg and Lee. — 1 *!*■- 8TH DISTRICT DOCTORS WILL MEET HERE TODAY The governor al?o announced that he would have a public hearing on the bill to create a new board of ex aminers of chiropractors. He sai4 that he had received many requests for the hearing. No date has been set. The school deficit bill, power regu latory measure, and the l)|fl to pro vide for sales of “baby bonds” had not reached the governor Monday. Neither had the bill to withhold the five per cent, penalty until June 1st for failure to pay property tax reach ed him but he announced that he would sign it. After a conference with the gover nor, A. J. Beatie, comptroller gener al, directed all county treasurers to delay levying the five per cent, pen alty a s provided in the bill. About two-thirds of the State’s property taxes have already been collected. The five per cent, penalty was scheduled to be effective March 15th but Mr. Beattie postponed it un til April 1st. In the meantiipe the bill authorizing postponement until June 1st was passed. Mr. Beattie said that by extending the tim e for payment without further ipenalty would probably mean that the State would have to pay pensions to Confederate veterans in install ments unless the money was borrowed. Senator Stukes’ bill proposed that in case of foreclosures when the property does not bring at sale the amount of the mortgage, the mort gagee could not secure a deficiency judgment larger than the difference between the sale price and the “true value” of tl^ property. Thi g “true value” would have been determined by a commission of three from which appeals could be made. Governor Blackwood had a hearing on the bill last Saturday. The governor sfpent one of the busiest days of his life Monday as he studied several scor e of billg which were waiting for hi 8 signature. THE BANK OF BARNWELL ADOPTS UNIQUE BY-LAWS The pupils of the Galilee school, accompanied by their teacher, Mrs. W. H. Manning, and the trustees went up to Columbia Saturday, at which time they attended a session of the general assembly and visited numerous points'of interest in.and around the capital city. The only thing that marred the enjoyment of the trip was a collision between the school bus in which they were riding and a heavy truck. The bus was damaged td seme extent but none of the rccupants wa 8 injured. The Eighth District South Carolina Medical association will meet in Barn well today (Thursday) at noon. Doc tors in six counties comprising the district are expected to attend in large numbers and the program has been divided in two parts. The first part of the program will be a scienti fic session which will be followed by a social feature in the nature of a luncheon. The principal speakers are: Dr. Robert Wilson, dean of the Medical College of South Carolina and Dr. Lester A. Wilson, professor of ob stetrics. Dr. Charles A. Mobley, of Orangeburg, president of the State Medical association will also be in at tendance. The counties in the Eighth district are: Allendale, Bamberg, Barnwell, Calh.un, Hampton and Orangeburg. What ought to be the law of the State and what probably would have saved many banks from failure in the past had it been tho law of the land, has been written into the By- Laws of the Bank of Barnwell by its stockholders and directors in the fol lowing language: “No officer or director or stockhold er shall be allowed to borrow money from the bank, or to become endorser or guarantor for the loans of another. “At no tinte shall there be paid out in dividends to stockholders more than one-half of the earnings of the bank for any calendar year.” The Ford Motpr Company’s latest product, a new Ford V-Eight, ia be ing shown at the showroom of the Barnwell Motor and Manufacturing Co. today (Thursday.) Don’t fail to see it. From a levy of 13 mills several year 8 ago to none in 1932 ia an achievement to which any body of of ficials can well “point with pride” and it will indeed take a pessimist to “view with alarm” the condition of the county’s finances, to say nothing of the relief with which the taxpay ers will hail this lightening of their burdeif at a time when money ia" scarce and hard to get. The aboblition of taxes this year for ordinary county purpoae s hag been made possible because of the ac cumulation of a surplus, due to the practice of strict economy in the various departments of the county government end more especially in the conduct of the affairs of the County Board of Directora. I^or in stance, thi s board effected savings one year that enabled the return of an unexpended balance of $7,000 to the general fund. Other savings have come from a reduction in court ex penses, the lowering of salaries, etc., until it has become possible to entire ly eliminate this levy in 1932. This means a saving to taxpayers of six mills as compared with 1931 and of 13 mills as compared with the levy a few years ago. The enacting words cf the 1932 county supply bill are as follows: “Whereas, it appears from an ex amination of the financial affairs of Barnwell County that not only for thg first time in more than twenty, years is the county cn a cash basis, but that on account of strict economies practiced by the County Board of Directors for the past few years in the administration of the county’s af fairs, a cash surplug of more than fifty thousand dollars has accumulated in the county treasury to the credit of the county’s ordinary affairs; and “Whereas, it is the duty of those in authority to relieve the home, farm and other property owners from th e burden of the property tax when ever and wherever possible, and it appearing that for the present the county hag sufficient cash on hand, without further tax levy, to pay its operating expenses; “Now, Therefore, Be It Enacted, that the County Auditor of Barnwell County be, and hg is hereby authoris ed and directed not to levy any property tax on the homes, landh and other property in Barnwell Coun ty for the year 1932 and that thn items' hereinafter appropriated be paid (1st) out of any special taxes coming into the county and (2nd) any balance out of the cash surplus on hand in the county treasury aft this time.” Senator Brown Comments. In commenting on the abobtttion of the levy, Senator Edgar A. Brown said: “Of course, th e delegation ig justly proud of the outstanding fact that; though we are suffering from the effects of a financial depression never before heard of,, which hag affected every individual in the county in a way, the affairs of the county itself are in the best shape that they been in for something like a quart of a century. “Every delegation that I have be (CONTINUED ON PAGE POUR)