McCormick messenger. (McCormick, S.C.) 1902-current, June 06, 1935, Image 2
McCORMICK MESSENGER, McCORMICK, SOUTH CAROLINA
THURSDAY, JUNE A
messenger TRENDS FAVORABLE
r
Every Thursday
Jun* 5, 1902
IOND J. McCKACKEN,
Oditor and Owner
y..
tenowad at the Post Office at Mc-
<CuruKick, S. C., •'is mail matter of
tittteweeond class.
« *
mmsCIUPTION RATES:
OMw? Year $1.00
BKjc Months .75
Or we Months.50
m.
%
m
t Btusy your {ertilizer
| fk&m us. Prompt
service assured.
Get extra yields
bigger profits
*AA QUALITY
FERTILIZERS
W. T. STROM
and
EDGAR PRICE
Dealers
McCormick, S. C.
t9
Wj&:'
BociorToM Her
How To. Lose 17
Pounds'Of Fat
PEEVED
• A
Hickey of Roseville,
'Waites'. “My - doctor pre-
Xmschen Salts for me—he
'wouldn’t hurt me In the
BFwe lodt 17 lbs. in 6 weeks.
Is worth its weight ki
iiwn
£2Erfcey ipald no attention to
who said there was no
fco reduce—envious women
ile> see others youth-
"She wisely followed her
wfrtdce. Vfhy don’t YOU?
Gtefc ul r»r of Kruschen today
(ias^a % weeks and costs but a
ttiflsir ‘sxM if you don’t lose 12 lbs.
and. 3e*& years younger and heal-
tiumEs—VKsmtj hack. Simply take
half kea^oonful in cup of hot
wates every morning (tastes fine
with juice of half lemon added).
Stncumf Drug Store.
—Ad*:
WANT ADV.
WA3*m>—Man with car. Rout';
frtfjrrv»nte preferred but, not
n: re awry. Rawleigh, Dent. SCF-
TT'-'ML, Uri-hTnond, Va.
GS XDr KBSORTM3NT cf high
-icsfi* xitscO pianct- tho-oughly
" TeiftCMfied $50.Gj and upward.
traarantoed. Jtlri A.
J^zTisnS,. Tlie GrernvwcJ Piano
Ore-onwood, S. C.
romOTV-J;--" 13 to
•7 ry. T-i. 7n‘?rostcd nupilo r e
Vfjn. ¥&. AVatson, MoCormioh, 3.
«T.
Vrxz HrULE—Poland China and
pio-c- 3ii sizes. City Market,
IrarC^nraick, S. C.
IV'.UL-H COWS—For sale or trade
few beef cattle. Jamie L. Smith,
yS^rCh-imick, S. C.
"Ht.^KSTTS POR SALE—Cabbage, On
ion's, Toraaco and Collard Plants,
AmKsrtxrfl 500 Plants 75 cents,
A’fWO Plamls $1.25 Prepaid. Sweet
V^jper and Egg Plants,
&& arootfed 500 Plants $1.00, 1000
Hterfiss W.Y5 Prepaid. Good Plants,
Shipment. DORRIS
H5AOT CO, VALDOSTA, GA.
IN STiTE BANKING
" A
Recent Figures Indicate Large
Increases in Deposits and
Invested Funds
Improvement in the condition of state
banks in almost every respect during
1934 Is shown by statistics recently as
sembled, Robert M.' Hanes, President
Wachovle Bank and Trust Company.
Winston-Salem, North Carolina, points
out In an article in “Banking” pub
lished by the American Bankers Asso
ciation. The figures on which this state
ment is based were gathered by the
Committee on State Bank Research of
the association from reports furnished
by state bank supervisors throughout
the country.
“Ever since 1921 the number of state
banks has been declining." Mr. Hanes
says. “Between 1931 and 1934 the de
cline was rapid. Figures for December
31. 1934,. showed that the downward
trend has not yet ended, but the de
cline last year was the smallest in
twelve years.” #
There are now. he says, about ten
thousand state banks, which term in
cludes all state/chartered institutions
with the exception of mutual savings
banks. The article continues:
“Even more significant was the end
ing of the decline of deposits in state
banks which had been going on since
the collapse of the stock market boom
in 1929. In recent years for which fig
ures are available the drop has been
particularly abrupt. Total deposits in
state banks declined from $20,395,762,-
000 on December 31, 1931, to $15,424,-
823,000 on December 31. 1933. The rec
ord for 1934 shows a recovery to $17,-
508,760.000 at the year-end.
Significance of Increased Deposits
“It Is particularly gratifying to note
the expansion of deposits, since it was
their decline which made necessary the
liquidation of investments, the calling
of loans, and all the other phenomena
which go under the name of ‘deflation’
and have brought^banks so much criti
cism in recent years. It is now plain
that this was due to efforts of the
banks to place themselves in the pos
session of enough liquid assets to meet
the growing demands of depositors for
the return of a part of the money which
had been, placed on deposit.
“That this is true is borne out by the
movement of invested funds of state
banks, which has paralleled that of de
posits. These'in vested funds (loans and
discounts plus investments) for state
banks, dropped from $20,291,320,000, at
the end of 1931, to $1«.915,773,000 at the
end of 1933. By December 31,1934, how
ever, they hud recovered to $15,769,510,-
000. All of this gain is accounted for
by the increase in investments during
1934, the expansion amounting to ap
proximately $1,300,000,000.
“As for loans and discounts, they reg
istered a slight drop again in 1934, but
the rate of decline was much smaller
than in previous years, which in itself
is progress. Whereas the drop in loans
and discounts amounted to approxi
mately $3,300,000,000 in 1932, and to ap
proximately $1,300,000,000 in 1933, it
was less than $500,000,000 in 1934.
“In another respect the balance sheet
figures for December 31. 1934. were es
pecially impressive. Bills payable and
rediscounts of the state banks, which
at the end of 1932 bad reached a de
pression high of $669,709,000, had
dropped by the close of last year to the
low figure of $82,101,000. One must
search the records as far back as 1917
to find bills payable and rediscounts of
state banks at a lower figure. More
over, It is reasonable to expect a further’
reduction of such borrowings during
the current year.”
TO FOIL BANK CROOKS
NEW YORK.—The American Bonk
ers Association Protective Committee
has developed a plan cf bank inspec
tion to bring out exposure hazards o
weak spots in respect to attacks by
criminals based on its long-established,
nation-wide experience in investigating
bank burglaries, hoidups and sneak-
thefts.
The inspection covers eighty leading
questions and seventeen recommenda
tions which are instructive in the p-e-
vention of such crimes. These relate to
such subjects as the use of alarms and
other protective equipment, also the
condition of windows, doors, skylights
and other entrances which have facili
tated the early morning entry of ban
dits who kidnap bank employees from
their homes during the night, or break
into the bank premises and bind and
grg the employees.
BANKERS HELP
“Save the Land and You Save tt.e
Man” is the essence of a suggested agri
cultural program recommended by the
Arkansas Bankers Agricultural Com
mittee. “Beware of impoverished soil.
It leads to impoverished homes,” says a
statement sent to the banks to be dis
tributed to their farmer customers. “To
help nature save the land, build up the
soil, by:
a. Stopping soil erosion.
b. Planting legumes.
c. Raising livestock.
d. Developing pastures.
“Look ahead with confidence—know
what you are doing, therefore:
1. Draw up a farm inventory.
2. Keep a record, daily or weekly.
3. Budget expense, and keep within
mm FOIES AID
emm mmm
llv R. S. HRCJMT
President A merican Qaekcrs
Association
IT. S. HHCH I
*\ LTHOUGH. as official studies of
- business conditions show, business
is still far from having struck Us full
stride, nevertheless.
I believe that it is
undoubtedly true
that the natural
economical proc
esses which have ah
ways brought the
nation out of a
slump are now and
have been for some
time steadily at
work laying t h e
foundations for
more active and
normal business
conditions.
' I believe that
there is growing a broader public per
ception that the people of this country
muct make their own prosperity and
not wait for the Covernment at Wash
ington to make it for them. In other
words, normal economic vigor and vi
tality of the United States is slowly but
inevitably bringing a return of natural
business recovery.
The Pcndamsntal Cure
Like a doctor, the administration can
help nature. But the fundamental heal
ing processes will come from natural
causes and not from political reme
dies. Despite the slackening of busi
ness now apparent, despite expressions
of disappointment we bear from vari
ous quarters, nevertheless I am confi
dent that these fundamental healing
processes, if not spectacular, are none
the less surely at work.
Gradually our business leaders are
showing greater confidence in the fu
ture and are assuming a more forward
looking position. I firnily believe that
If we will make up our minds to replace
fear-psychology with confidence-psy
chology the results will fully justify
such a new attitude.
BANKERS’ ASSOCIATION >
STIMULATES ADVERTISING
The American ’Bankets Association's
Advertising Department reports rapid
progress of the use by banks of the in
formative bank newspaper advertising
prepared by It for members to assist
them tn rebuilding public confidence
and good will in their communities.
The central theme of this advertising
service deals with the “essential line of
economic and social service that all
sound banking inherently renders the
depositor and the public,” the report
says, showing that “it is not banking
laws which make banking useful and
safe, but that fuudamentally it is hon
esty and skill in management under pri
vate initiative.”
The Advertising Department is sup
plying about a thousand members of
the association with newspaper and
other advertising material. The news
paper material totals about 50,000 ad
vertisements annually The growth of
the work of the department Is shown
by the following figures: On September
1. 1931. the number of banks being
.-.erved regularly each month was 623.
The total number on April 1, 1935. was
921. an increase of 301 regular sub
scribers. or 49 per cent Ir a period of
seven months
WA3S ON 8JMB3EI1S
national Bankers Association
Pressing Active Steps to
Protect Members—
Losses Cat
Imprisonment or death of many des
perate bank criminals the past year has
orought no appreciable reduction in at-
y tacks on banks, James E. Baum, in
charge of the American Bankers Asso
ciation Protective Department, has re
ported to his organisation.
In the six months ended February 28.
1935, be says, banks were targets for
109 daylight holdups and 40 night bur
glaries. He added that although banks
that are not members number only
abo it half those enrolled in the asso
ciation, they suffered a far greater rate
of attack, namely, 51 per cent of all the
bank robberies committed during the
period.
Losses Show Decrease
During the period under report, bank
burglars and bandits exacted tribute
amounting to $943,551 compared with
losses totaling $1,257,000 a year ago. he
said. This reduction in losses is attrib
uted to tjie time-locking restrictions
and other limitations in the exposure of
surplus cash imposed last year by
underwriters and several bank super
visory authorities.
Thu sharp reduction in the material
loss of money and securities resulting
from bank robbery this year was “over
shadowed by the killing of 2 bank em
ployees. one bystander and 5 arresting
officers,” and since last August bank
robbery also cost the lives of 15 crimi
nals and caused physical injuries to 10
hank employees, 12 bystanders, 9 ar
resting officers and 8 bandits, a total of
«;j casualties.
Investigations by the association’s
igents resulted in the arrest of 36
'orgers. 42 bandits and one burglar, or
.'9 of the 141 bank criminals reported as
being apprehended during the period.
G REAT numbers of
people in this com
munity have learned that
the way to get a better
used car is to visit this or
ganization and buy a car
with the “OK” that counts.
Every car must pass a
rigid, systematic inspection
before it is awarded our
Guaranteed “OK” tag.
All features are carefully
checked by factory-trained
mechanics—brakes are ad
justed, upholstery cleaned,
the car made to look like
•
new, and all mechanical
parts reconditioned to pro
vide the finest and most
dependable performance.
See our fine stock of
guaranteed OK used cars—
today! Not only will you
get a better used car value
but you will also get a
better deal on your old car
in trade.
SEE US FOR
USED CARS
wtt/i an that cotuttSi
McCORMICK, -
New Chevrclet Assembly Plant Opens in Baltimore
Governmental, state and civic officials joined with the principal executives of General Motors Corporation In the
formal opening of the new 80,000-car-a-year Chevrolet assembly* plant in Baltimore recently. The new plant (center)
was dedicated with impressive ceremonies (lower left), and Chevrolet, Fisher Body and Geneial Motors officials
were guests of the Baltimore Association of Commerce at a formal banquet in the evening. W. E. Holler, vice-president
and general sales manager of Chevrolet, is shown (standing) with Maryland’s Governor, H. W. Nice, and Alfred
P. Sloan. Jr., president of Geneial Motors (upper left). M. E. Coyle, president and general manager of Chevrolet,
is pictured in the upper right photo with Senator Millard Tydings (left) and Mayor H. W. Jackson, of Baltimore
(-ight). Lower ri^kt shows the first motor car built in that city
n '