University of South Carolina Libraries
NU 'INq6 ert of Ca iM~q of the ElTEBRISu NATIONAL BANE At J lureae a the tte of South Caroa, at the dose of bastnes on Feb. '1 1IOURCIDS otas and discounts including rediscounts .... .... $499,692.48 Notes and mills rediscounted with Federal 'Reserve Bank (other than bank acceptances sold) ...... 76,420.00 $423,272.48 U. 8. Government securities owned: Pledged ae- collateral for State. and other deposits or b1115 ,payable .... .... --- -.- .. .... .... .... .... 22,00.00 Securities, other than 'U. 8. bonds (not including stocks) awned and unpledged .... .'-- --. ... .... .. -... 8,100.00 Otooks, other than Federal 'Reserve Bank stook -..--.-.-.-....7.0.00 Btock of Federal Reserve Bank (60 per cent of subscription) ..., 3,760.00 Value of banking house, owned and untacumbered .... .... .. 22,000.00 Furniture and -fixtures .... .... .... ..... .... .... .... 4,613.00 Lawful reserve with Federal 1eserve -Bank .... .... ., ... 30,778,68 Cash in vault and net amounts duoe from national 'banks '... 19,661.68 Checks on other .banks In same city or town as reporting bank 1,409.39 Total of above two Items .... .... .... ....$ 21,071.07 Checks on banks located outside of city or town of reporting ' bank and other cash Items .... .... .... .... .... .... 5,131.37 Interest earned 'but not collected-approximate--on Notes and Bills Receivable not past due .... .... .... .... .... .... 2,600.00 Total .... ..... ..... .. . ... --..... .... .... .... $543,866.60 LIABILITIHS Capital stock paid in .... .,-. .... .... .... .... ......... 100.000.00 Surplus fund .... .... .... .... .... ...................... 25,000.00 Undivided profits .-. .... .... ............. 27,496.96 Less current expenses, Interest, and taxes paid .... 7,072.05 20,423,91 Interest and discount collected or credited in advance ofta turity and not earned--(approximate) ............ .... 1,000.00 Amount due to Federal Reserve Bank (deferred credits) .... 6,586.98 Cashier's checks on own bank outstanding .. ...... ...... .490.88 Total of above two Items .... .... .... .... ..$ 7,077.86 Demand deposits (other than bank deposits) subject to Reserve (deposits payable within 30 days): Certificates of deposit due in less than 30 days (other than Individual deposits subject to check .... .... ..... .. .. 127,020.96 for money borrowed) .... .... .... .... .... .... .. 13,744.30 Dividends unpaid ..---- ----- ....... ..... ......... 193.50 Total of demand deposits (other than bank de posits) subject to Reserve .... ... .. . ....$140,958.76 Time deposits subject to Reserve (payable after 30 days, or sub ject to 30 days or more notice, and postal savings): Certificates of deposit (other than for money borrowed) .' 115,813.25 Other time deposits .... ... .... ...................... 98,592,82 Total of time deposits subject to Reserve ....$214,406.07 Bills payable, other than .with Federal 'Reserve Bank (including all obligations representing money borrowed other than rediscounts .... ...-. .... .... ............. .. 36,000.0' Total ---.. . --------.. ---............ ....$........$43,866.60 Liabilities for rediscounts with 14deral Reserve Bank .... .... $ 76,420.00 Of the total loans and discounts shown above, the amount on which in terest and discount was charged at rates in excess of those permitted by law (Sec. 5197, Rev. Stat.) (exclusive of notes upon which total charge not to exceed 50 cents was made) was None. The amount of money loaned ON CAIL Oft' DIDMAND, by this 'bank on bond and stock collateral, in New York City, Including :both loans made di rectly to borrowers and those through its 'New York correspondents, on the date of this report was None. The amount of money loaned ON TIMID, by this bank on bonds and stock collateral, in New York City, including both loans made directly to borrow Ara and those through 'its 'New York- correspondents, on the date of this re port was None. Aggregate amount of salaries or compensation -paid by this bank to Chairman of 'Board (if any), President, Vice Presidents,, Cashier, and Assist ant Cashiers for month of January, 1921, $340.00; Annual spay of all these . officers at January, 1921 rate of pay, $4080; number of these officers on date of this report was 3. Aggregate amount of salaries or compensation paid to all other em ployees of the bank for month of January. 1921, $240.00; Annual pay of these employees on basis of the January, 1921, rate of pay, $;2880.00; number of these employees on date of this report was 3. State of South Carolina, County of Laurens. I, C. H. Roper, Cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. C. 'H. ROIDR, Cashier. Subscribed and sworn to before me this 1st day of .March, 1921. L. G. :BA'bL1, Notary -Public. Correct-Attest: S. M. Wilkes, C. E. Kennedy, R. M. Wasson, Directors. - 10652 Report of Condition of the LAUItENS NATIONAL BANK At Laurens, In the State of South Carolina, at the close of business on Feb ruary 21, 1921. RilSOURCES Loans and discounts, including rediscounts .... ....$291,046.39 Notes and Bills rediscounted with 'Federal Reserve Bank (other than bank acceptances sold) ...... 16.697.97 $2.4,318.42 U. S. Government se.urities owned: -Pledged as collateral for State or other deposits or bills payable -.--.--.. -..-.--...................... 15,310.48 Stock of Federal Reserve 'Bank (50 per cent of subscription) .... 3,000.00 Value of .banking house, owned and unincumbered...... .... ....21,904.55 Fu-alitur'e and fixtures.---..-.................................3,489.00 Real estate ciwned otljer titan banking house .......................5.00 Lawful reserve .with F1ederal 'Reserve Bank..... .................3,581.83 Cash in vault and net amount due from national banks..........20,337.81 Checks on other banks in same city or town as reportinig 'bank 2,111.12 Total of above two items..... . ... .. .. .. .. .. . ..$ 22,148.93 ' Checks on banks located outside of city or town of reporting .bank and other cash items.......................,..........190.01 Total.............-.--.-.--.-----........... ..........$31 1,278.22 IABiLIT.IES Capital stock paid in..... ....................................$ 50,000.00 Surplus fund..---.--.---......--.......................0,000.00 Undivided profits ..................................-$ 6,015.05 Less current expenses, interest, and taxes paid .... 2.575.44i 3,169.61 Interest and discount collected or credited in advance of ma I utity and not earned-(a~lppoximate)..... .... ....n.. 2,800.00 Net amount due1 to national banks .............. ..................238.03 Net amounts due .to banks, bankers, andl trust companies In the United States and foreign countries.-....................6,89.26 Certitled checks outstanding.-...----...........................500.00 Cashier's cheeks on own hank outstanding .......................551 -- Total of above four items ......................$ 8,1!I1 ' Demandt~ d~eposi ts (ot her than 'bantk dleposi M isubject to lIr'erve ' I(doposits payable within11 30 (lays): Tndividuial dieposits subject to check .............. ............82,251.15 DIvidends uinpaid ..'-..----.--....--.........................64.00 Total of demand (deposits (othier than bank do.. .posits) sutbject to Reser ve.... . .. ... .. .. .. $ 82,315.15 Time deposits suihject to Reserve ( payable aftr r 30 days, or subl ject to 30 (lays or more notice, and postal savings): Certificates of dieposit (other tihan for money borrowed) . ... 50.650.5i Othier time deposits..----. -.. ----..... ............ 4,3.4 Total of time dleposits subject to Reserve ....$ 93,951.95 Bills pay'able, other than with Federal Reserve Bank (includinug all obligations representing money borrowed other than rediscounts .'.- -.--.--.---.--.---......... .10,000.00 Bills pay able with Federal Reserve Ban k. .. .. . ... .. .. . ....13,600.00 Total..'--.---.----.---.----.---.-.--.... ........ .....$314,278.22 Lbltisfor red iscounts w ith Federal Reser ve Bank .. .. .. ...$ 4i6,697.97 Of the total loans and discounts shown ab~ove, the amount on which ip terest andl discount was charged at rates in excess of those .Permitted by law (Sec. 5197, Rev. Stat.) (exclusive of notes upon which total charge not to exceed 50 cents was made) was None. The amount of money loaned ON (CAlL OR DFAAND, by this 'bank on bond and stock collateral, in. New York City, including both loans made <it reetly to borrowers and those through its New York correspondents, on the Sdate of this report was None. The amount of 'Money loaned ON TIMEJ', by this bank on bond, and stock collateral, in New York City, including bo0th loans madec directly to borrow.. ers and those thtroughi its 'New York corresp~ondents, on the date of this re port was None. Aggregate amount of salaries or conmpensation paid by this bank to Chimn of 'Board (if any), President. Vice Presidents, Cashier, and Assist ant Cashiers for month of January, 1921, $40.00; Annual pay of all these omilers at January, 1921 rate of pay, $4,800.00; number of .these officers on .date of this report was 2. Aggregate amount of salaries or com'pensation paid to all other em loyees of the bank for month of Janutary, 1921, $69.00; Annual spay of these employees on basis of the January, 1921, rate of pay, $720.00; numaber of these employees on (late 'of this report was 1, State of South Carolina, County of Laurons. 1, (Ceo. '1. Biakely, Cashier of the above-nanied bank, do solemnly swear that the above statement is trute to the best of my knowledge and belief. . OEO. H, BL~AKIELY, Cashiert Subscribed and sworn to before me this 3rd day of March, 1921. W. R1. McCUEN, Notary (Public. -Correct-Attest: W, . lninhaey C. M mm MilrJ . AdmsDrcos INAUGefAL A11NSS er - RESIDENT RA BING (Continued from Page Two) We can reduce the abnormal e.. 1 pendturea, and we will ; we can strike I at war taxation, and we mpet. We i must face the gram necessity, with 1 full knewledge that the task is te be solved, and we must proceed with a I full realisation that ne statute en- 1 stet can repeal the inexorable laws i Snature.. Our most dangereus tend. f ency Is to expect too much of gov- 1 ernment, and at the same time do far I it- too little. We contemplate the immediate task 1 of putting eur public household in 1 order. We need a rigid and yet same economy combined with Anal justice, A and It nist be attended by Individual prudence and thrift, which are so es. sential to this strying, hour and reas .sgitg 'ferz the future. Refleetien of War's Reaetle The business world reflects the die turbance of war's reaction. Herein lows the life blood of material exist- e once. The econ~omic mechanism is in, t tricate and its parts Interdependent, it and has suffered the shocks and jars d incident to abnormal demands, credit w inflations and price upheavals. The o normal balances have been impaired. t .The channels of distribution have been clogged, the relations of labor and management have been strained. We it must seek the readjustment with care f and courage. Our people must give t and take. Prices must reflect the re- h ceding fever of war activities. Per- p liaps we never shall know the pid r levels of wage again, because war in- e variably readjusts compensations, and r the necessaries of life Will show their t inseparable relationship, but we must strive for normaley to reach stability. All the penalties will not be light nor evenly distributed. There is no way of making them so. There is no in stant steps from disorder to order. We r must face a condition of grim reality, a charge off oUr losses and start afresh. It is the oldest lesson of civilization. ,,. I would like government to do all it can to mitigate, then, in understand ing, in muttyality of interest, of con cern for the common good, our tasks d will be soived, NO altered system f will work a miracle ; any wild experi ment will only add to the confusion. Our best assurance lies in efficient administration of our present system, From Deetructlen to Production The forward course of the business f cycle is unmistakable. Peoples are p turning from destruction to produc- g tion. Industry has sensed the changed o order, and .our own people are turning c to resume their normal, onward way. h The call is for productive America to t go on. I know that Congress and the y adminiptration will favor every wise ib government policy to aid the. resunp- I tion and encourage continued progress. is I speak for administrative efliciency, s for lightened tax burdens, for sound ib commercial practices, for (leluate a credit facilities, for sympathetie con- It cern for all agricultural problems, for o the omission of unneoessary interfer- it etce cif government with business, for h) an end to government's experiment in t< hntslitess and for mor'a eflicieitt bustines h. in govertnmeut adminiistrat i(n. With t, all of this moust attend a mindfulness a of the human side of all activities, so s that social, Industrial ld ecoaomic justiee will he squared with the i.tir poses of a righteogag pe'ople. Witha thte nattiont-wide indultloni of woman hood into otur political life' we may t count utpont her intuitions, her retline. ments, her intellgencee and her it fluentce to e,alt the social ordler. We count upon her exercise of the full privleges and the performance of theo diuties. of citizenship to speed the at talinment of the highest siale. Prayer for industrial Peace v I wIsh for un Amterien nto less ttlort a in guarding agalinst dhangers fr'oit wIth- a n titan #is waittfut l gitst enem'ties4 a gromn without. Our fuitli ndaentalI law li recotgntizes no class, nto group, no .-a. iont. llThere imust he@ ntone in legisla atin or adin inlitratlon. 'Te suptremeia i il nspiati l te 'tlmonei wveal. I!u ri ;emniity huni:.ers for lteruational pJ'e, 1 and we hrmve it wIth all maninlid. My 1: ''ost4 re.verent prayer for Amieieni i. 5 for* itdtin ii pteac~e, w. ith Its roward.i, a widelv' and. geeally distrlbuted amid il the iinsplirations of equatl opptittunity.t Nit one4 Ju:itly may1113 deiny thei equlttIity C of pOi)tiIty whleh made uIs whnit we iare. We htave tnist a keniunnpre liatredel tss to embirace it to he a cha))- L leitge or 1he reali1ty, aind dute coitcerna for mtakitg all citizeins fit for partiei- r pat)1ion will give ntiehd strength of 1 citizenshlt tand magnify our achieve iment. If revoltioit insists on over- ~ turnlitg e'stablishted order let other peoples imake thte tragic experimaent. There Is no place for it in Amnerica. Wh~en world, war threatened civiliza tiont we lCeged ouir resouirces and our I lives to otir preservation, and when revolutin threatens we unfurl the flag of law and order and renew our con setration. Ours is a constitutional freedom where the popuilar will is the I law supreme and minorities are sa credly protected. Our revisions, refor- . mtations and evolutions reflect a delib erate jndgment and an orderly prog ress, and we mnean to cutre our tils, but never dlestroy or permit destruction byy force. S I had rathter sublmnit our industrial ' controversies -to thte conference table I In advantce than to a settlemtent table d b after conflict andl suiffering. Tihe earth r is thirstintg for the cuip of good will. r Understan~ding its fountain source, I would like to acclaim an era of good feeling amid dependable prospbrlty and nil thte blessings whilh attend. Protection of industries It has been proved again and again that we cannot while throwing our markets open to the world mantinn RESTh ON POPULAR WtL4. r The suces of our popular ge* . ernment rests wholly upon the w Correct interpretation of the do. d r liberate, Inteligent, dependable A r popular will of Amories.- in a d r deliberate qu.etlouuing of " ug- A r gooted change of national petley d r where Internationality was to eu. A r pereede nationatity we turyed to i r a referendum to the Ameriean A r people. There was ample dleus. * r sen, and there is a pubilo mean. A r date in manifest understandlg. A r** *** * * * *1 merican standards of living and op ortunity and hold our industrial emi ence in such unoetif eon caotion, 'here Is a luring faltacy in the theory ( banished barriers of trade, but pre srved American standards requtre our igher production assts to be reflected our tariffs on imports. Today am over before, when peoples are seeking rude restoration and expansion, we lust adjust our tariff to the new or er. We seek participation in the erld's exchanges because therein lien ur way to widened influence and the rtunphs of peace. We know full well 'e cannot sell where we do not buy, mil we cannot sell successfully where 'a do not carry. Opportunity is call ig not alone for the restoration, but r a new era in production, trahspor. ition and trade. We shall answer it eat by meeting the demand of a sur assing home market by promoting self ilianco in production ,nnd by bidding Itterpriso, genius and etfciency to car e our cargoes in American bottoms to to marts of the world. An America of Homes We would not have an America liv ig within and for herself alone, but e would have herself reliant, Inde endent And even nobler, stronger and cher. Believing in our higher stand rds, reared through constitntional lib. rty and mantalned opportunity, we in Ito the world to the same heights. ut pride In things wrnught Is no re ex of a completed task. Common elfare is the goal of onr nationa! en eavor. Wealth Is inimical to wel. ire; It ought to he its frietdliest gency. There never can be equality r rewards or possessions so long as te human plan contains varied talents nd differing degrees of industry mid trift. But ours ought to be n country ee from great blotches of distressed roperty. We ought to find a way to uard against the perils and pennitiles f ulemtployment. We want an Ameri i of homes, illumined with hope and appilness, where mothers, freed frot te necessity for long hours of toil be otu their own doors, may preside as eoits ti hearthstone of American citi enship. We want the cradle of Amer. 'an childhood rocked under conditions u wholesome and so hopeful that no light may touch it in its development, nd we want to provide that no selfish iterest, no material necessary, no lack f opportunity shall prevent the gain ig of that education so essential to ext eltizenshIp. ''here is no short cut ) the making of these ideals into glad anilitles. The world has witnessed gain and again the futility and the ilschief of il considered remedies for cical and economic disorders. Rut we re mindful today as never before of to friction of miodIerni indusatialism, 11d we miust learn its cauises aind re uice its evil consequences by sober and sated methods. N'hmere getilus has made for great possibIlities justice, and aippiness nmust lhe reflec-tedl in a great. r common welfare. Service the Supreme Commitment Service is the supreme commitment f life. I would rejoice to acclaim the rn of tl.e Golden Rule and crown it 'Ith the iutocracy of service. I pledge n admrinistratlon wherein all the gencies of government are called to arve and ever' promiote ani uniderstand ig of government purely as an ex ression of the popular will. One cannlot stanid in this presence nd be unind 11ful of the tomendt~t~ous [esiosibillty. The world's upheav-al as5 been1 added hienily to our tasks, utt with the realization comes the urge of high resolve, iand therm is re xsurantce in belief In the Glod given estiny of our republic. If I felt that tere Is to lie isole respotnsibliIt y in tho x(eiutlie fori the Ametrileniof toimorrow shtouldl shitn k frm thle burtdetn. 1But tol coinierniiitand sharted respohili ty tiswerale to (God itnd country. Thi Iopulic ummitonis themt to thir ldun(ty, nd( 1 invite coi-opertionm. I inecep'it my art 'thi sigle mindednessn otS5f puripose nd( hiumiilllt of spirit and1( Iilore the ivor airnd guince of (kid in his hteny n. With these I am untafratid and1 onfidetntly face the future. I hiave uken the solemnt (lath of oflice on that assage oft1Holy Writ wherein It is sked: "WVhat dtoth the Lord require of thee utt to &. justly andl to love mercy and i) walk ltthmby with thy Glod?"'IThis light to God and country. uike Ielly Says, "The Rant Died Be. fore Reaching the River" "Since moving neat' the riven two ears ago, 'we've always used RtAT NAP. Watched a viciduts water' rat, thbling at IRAT-SNAP outside the ouso. About 15 minutes later' hec arted off for the water, to cool his urtinag ston'nach, but he dIed before iaching it." Three sizes, 35c. 05e, 1.25. Sold and guaranteed by Lau ins H'ardlware Co., Putnam's Drug) tore, and Kenlnedly Bros. PrasC 6~, *4 Days ENT fall aate =415 n na.9 9N.. 1,W eport of Condito f the FARXBB NATIONAL BANK At Lauren in the State of Seuth Caroelna, at the close of business o. Feb. scary S1, 19$1. REOURCE0 Loans and discounts, including rediscounts .... ....466,041.26 Notes and Sills rediscounted with (Federal Rleservo Bank (other than bank acceptances sold) .... 166,666.1, 288,375.15 U. 6. Government securties owned: Pledged as collateral for State or other deposits or bills payable .. .... -.... .... .... 5,000.00 Owned and unpledged -. ---- .. ..... 1,800.00 6,80000 securities, other than U. 6. bonds (not including stocks) owned and unipledged .. .... - ... . - . 0000 Stock of Federal Reserve Bank (50 per cent of su~bsciption) 2,060.00 Furniture and ixtures -.. . .... ... .... .... ..... .. 2,354.53 (awful reserve with Federal Reserve Sank. --.. - .... .. 16,163.13 Cash in vault and net amounts -due from national banks 5,266.86 Checks on banks located outside of city or town of reporting bank and other cash Items .... . . -- .... .... .... .... 916.66 Interest earned but not collected-approximate.-on Notes and and Bills Receivable not past due .... .... .. 2,500.00 Total ............ .... . ... .... .... .. 4327.006.22 LIABIITIES Capital stock paid in......---.-----.----.--..----- .... ..$ 50,000,00 Surplus fund ...... ....'--- -'----- .-.. - .... .... 22,600.00 Undivided profits ....--- ----. -.. ...... ....$ 7,328.47 Less current expenses, interest, and taxes paid .... 4,176.66 3,162.81 Interest and discount collected or credited In advrnce of ma turity and not earned--(approximate) --............ 2,500.00 Cashier's checks on own bank outatanding .... .... .... .. 473.36 Demand deposits (other than bank deposits) subject to Reserve (deposits payable within 30 days): Individual deposits subject to check . .. . ... 61,416.92 Certificates of deposit due in less than 30 days (other than for money borrowed ....... - . .... ............. &1,085.58 Dividends unipaid -'- . --'.---.--.---.... .... .....392.00 Total of dofnand deposits (other than bank de posits) subject to Reserve-- - . .... ....$ 92,894.50 Time deposits subject to Reserve (payable after 30 days, or sub ject td 30 days or more notice, and postal savings): Certificates of deposit (other than for money -borrowed) 83,171,13 Other time deposits .... .... .... .... .... ........ .... 47,044.82 Total of time deposits subject to Reserve ... .$130,216.95 Bills payable, other than with Federal Reserve Bank (including all obligations representing money borrowed other than rediscounts --*.------. ------.-... .... ...... ....20,000.00 Bills payable with Federal Reserve Bank .... ... .. .. 4,500.00 'Liabilities other than those above stated .-- .-.. .... ...... 768.60 Total --''.----. .. ---- '-'-.----.----.--.... .. ..$327.005.22 Liabilities for rediscounts with Federal Reserve Bank .. .... 4166,666.11 Of the total loans and discounts shown above, the amount on which In terest and discount was charged at rates in excess of those permitted by law (Sec. 5197, Rev. Stat.) (exclusive of notes upon which total charge not to exceed 50 cents was made) was None. The amount of money loaned ON CALL OR DEMAND, by this 'bank on bond and stock collateral, in New York City, including both loans made di rectly to borrowers and those through its New York correspondents, on tno date of this report was None. The amount of Money loaned ON TIME, by this bank on bond and stock collateral, in New York City, including both loans made directly to borrow ers and those through its New York correspondents, on the date of this re port was None. Aggregate amount of salaries or compensation 'paid by this bank to Chairman of Board (if any), President, Vice Presidents, Cashier, and Assist ant Cashiers for month of January, 1921, $350.00; Annual pay of all these officers at January, 1921 rate of pay, $4,200.00; number of these officers on date of this report wad 3. Aggregate amount of salaries or compensation paid to all other em ployees of the bank. for month of January, 1921, $40.00; Annual pay of these employees on basis of the January, 1921 pay, $480.00; number of these em ployees on date of this report was 1. State of South Carolina, County of Laurens. I, Clyde T. Franks, Cashier.of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and -belief. CLY'DE T. FRANKS, Cashier. Subscribed and sworn to before me this 1st day of March, 1921. R. E. BABB, Notary Public. Correct-Attest: M. J. Owings, C. E. Kennedy, C. Jones. iDirectors. Specials for This Week C O HEN'S 32-inch Dress Gingham. New Spr ing Patterns just arrived 18c a Yard Blue D)enimi for Boys' and Meni's Overalls. Ver~y heavy grade 29c a Yard New~ Spr'ing Driesses $19.75 Jersey Petticoats $3.95 $2.00 W\ihor WVaistis 98c See our3 ne w Spin ll ineII of Oxfords d anid P'umps'* ,Just a f'ew hundred yarids left 40-inchI Shetig. Not the thin slazy kind 10c a Yard Ladies' 25c hose 3 Pair for 25c Buister Browni Silk I lose 75c a Pair Just received a large shipmnent of Ladies Narrow Bletts-all colors. *Camiion Cloth 25c a Yard Meni's Blue Buckle Overalls ; all sizes' I $1.35 a Pair $3.00 Black and Blue Taffeta $1.98 a Yard Good quality Bleaching . 12 1-2cea Yard COHEN'S TUE STORE OF IBF)TTER MAL~IE