Timpson Daily Times (Timpson, Tex.), Vol. 34, No. 67, Ed. 1 Wednesday, April 3, 1935 Page: 1 of 4
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1
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VOLUME 34
TIMPSON, TEXAS, WEDNESDAY, APRIL 3, 1935
K«i *7
SHELBY GOUffTY GETS
IDE SUM THROUGH I!
GSTTLE BUTINS PflOGRSM
During the two periods of
AAA cattle buying in Shelby
county a total of $54,919 was
paid to Shelby county citizens,
according to County Agent C.
P. Scurlock, Purchases of cat-
tle totaled 5021 head, averag-
ing more than $10,00 per head.
Mr. Scurlock says this splen-
did record would not have
been possible without the co-
operation of all parties con-
cerned and expresses his ap-
preciation for the services ren-
dered in the program.
FIFTHI BILLOTS
POLLED IB CITT ELECTION
Messrs. R, E. Boucher and
Chas. W. Wigley were unani-
mously re-elected aldermen in
the city election held here
Tuesday. A total of fifty-five
ballots were polled, according
to W. J. Walker, manager of
the election.
COTTON MANUFACTURING
IN TEXAS AT LOW EBB
Austin, Texas, April 3.—
Operations of the textile in-
dustry in Texas during Febru-
ary were still at a low ebb, ac-
cording to the University of
Texas Bureau of Business Re-
search. Consumption of cot-
ton amounted to only 2,652
bales, off 18 per cent from the
previous month and 58 - per
cent from .February last vya.”,
Cloth produced, totaling 3,-
998,000 yards, was down 1 per
cent and 27 per cent, and
cloth sold, 2,875,000 yards, de-
clined 3.5 per cent and 63.4
per cent from January and
from February, 1934, respec-
tively. Unfilled orders at the
end of February, 17,240,000
yards, were 9.8 per cent under*
those of the last of January
and 55 per cent below the cor-
responding date last year.
GOTTI OCCUPIES CENTER
OF ECONOMIC PICTIE
Austin, Tex., April 2.—Cot-
ton occupies the center of the
national economic picture
again in the space of two
months, this time by staging a
spectacular fall in price on
March 11 of nearly 200 points,
or from 12.10 cents for May
New York to 10.25 cents for
the same delivery, according
to Dr. A. B. Cox, director of
the University of Texas Bu-
reau of Business Research and
internationally known cotton
economist.
“Cotton has again demon-
strated its strongly interna-
tional characteristics by taking
a drop of about 100 points be-
low the loan value placed on it
by the United States Govern-
ment," he said. “Decline in
the price to American cotton
so far below the Government
loan value has virtually priced
cotton out of the market for
the time being.
“According to the New York
Cotton Exchange Service, the
total stocks of American cot-
ton in the United States was
about 10,500,000 bales on
March 14. Mill stocks amount-
ed to a little over 1,000,000
bales. According to trade
sources, the United States Gov-
ernment controls about 5,500,-
000 bales now, and there are
about 500,000 additional bale3
subject to the 12-eent loan,
which at present prices means
that the Government will eith-
er own or control 6,000,000
bales of cotton. This leaves
only 3,500,000 bales for ex-
port and consumption in the
United States until the new
crop comes, Moreover, stocks,
in European-porta and aflcc-t
to Europe are only 982,000
bales, or 957,000 baies less
than on March 1 last year.
Stocks of American cotton 1nj
and afloat to the Orient are
about 50,000 more than • last
year.
"If the Government is to
hold its cotton for 12 cents or
better, there must inevitably
be a strong advance in prices
of all growths of cotton or
else very drastic-curtailment of
In Hie Ohio Unemployment Relief Controversy
COI.UMBUS, O...Above, left, it Attorney-General John Brisker
of Ohio, to whom Harry I- Hopkins, Federal Belief Administrator,
sent affidavits
ferences" “ *'
New RFC Director
Astor Goes to Work
txTxwgitwaMFf mntctw
i!>r rptaotwsao*
! No. 495
Cotton Belt State Bank Statement
OFFICIAL STATEMENT OF FINANCIAL CONDITION
of the Cotton Belt State Bank, at Timpson, State of
Texas, at the close of business on the 4th day of
March, 1935, published in the Timpson Times, a
newspaper printed and published at Timpson, State of
Texas, on the 1st day of April 1935.
RESOURCES
Loans and discounts, on personal
or collateral security..................$ 87,770.97
Loans secured by real estate.............. 20,000.00
Overdrafts .................... 966.38
Securities of V. S., any State or political
subdivision thereof.......... 3,188.88
Customers' bonds held for safekeeping..... 18,800.00
Bulking House ....................... 16,000.00
Furniture and Fixtures.................. 2,650.00
Real Estate owned, other than banking house 4,695.35
Cash and due from approved reserve agents. 41,017.23
Scrip and Vouchers..................... 595.23
Livestock and Implements.......... 491.42
Cotton Bills of Exchange................. 8,467.10
'U. S. Government 12c Cotton Loans........ 97,274.94
TOTAL.....................$301,917.50
LIABILITIES
Capital Stock..........................? 60,000.00
Surplus Fund.......................... 16,750.00
Undivided Profits, net................... 161.55
Dividends unpaid ...................... 100.00
Individual Deposits subject to check,
including time deposits due in 30 days... 203,484.95
Customers' bonds deposited for safekeeping. 18.800.00
Other Liabilities........................ 2,621.00
TOTAL......I..............*301,917.50 |
STATE OF TEXAS,
County of Shelby.
We, J- B. Blankenship, as President, and J. C. £
Black, as Cashier of said bank, each of U3, do solemnly -
swear that the above statement is true to the best of our
knowledge and belief.
J. E. Blankenship, President.
J. C. Black. Cashier.
Subscribed and sworn to before me this 1st day of
April, A. D. 1935.
W. J- Walker, Notary Public. Shelby County, Texas. |;
CORRECT—ATTEST: £
W. M. Byrn, F. T. Cooke, G. C. ItcDavid, Directors. &
rSv«i
WASHINGTON ... Herbert D.
Stephens, former U. S. Senator
from Mississippi, has keen ap-
pointed * director of the Keccrw
straction Finance Corporation.
NEW YORK . . . John Jacob
-Astor, Snt, (above), has landed a
job and gone te-work. Though heir
to millions he has taken a job at
the bottom of s shipping business
at the salary of 325 per week. He
says he intends to learn, "from
the bottom up*..
the consumption of American
cotton, which might con-
ceivably result in a -carryover
of cotton on August 1 in the
United States equal almost to
that of 19S4 in spite of the 9,-
634,090-bale crop.”
Prices of both cotton and
yarn hardened during Febru-
ary which resulted in yam ad-
vancing about an eighth and
cotton about a twelfth of a
cent, Dr. Cox said. The net re-
sult was an advance of
Wffl Stage “Real” OH
Well Fire at Exposition
Houston, Texas, April 3.
(UP)—A “real” oil well fire to
■be staged outside the Houston
city limits, will be part of the
Oil Equipment and Engineer-
ing Exposition here April 8 to
13, officials of the show have
announced.
A standard derrick will be
erected by a company which
iBELIEf EXPENSE
eSORfEWf
Austin, Tex., April 3.—Ob-
ligations incurred for relief in
Texas during February totaled
$6,042,204.85, or less than
5196,833.70 than January ob-
ligations, it was revealed this
week in a summary of Febru-
ary operations released by
Adam R. Johnson, state relief
director.
Resident relief cases, 270,-
£69 in number and represent-
ing 1,111,730 persons, received
$3,927,424.63, an average of
§14.49 per case. There were
105,184 cases who worked for
all the aid they received, while
101,067 received aid entirely
in direct orders for food and
other necessities. There were
64,718 other cases who receiv-
ed both work relief and direct
relief. Expenditures for. direct
relief amounted to *1,528,-
381,19; for work-relief $2,-
3S9.04S.44.
Special relief • programs
brought aid to 46,090 more
persons in Texas as follows:
Emergency education, 2,183 ;
expenditure, 8108,180.03; per
case, $49.55.
College student aid. 4,618;
expenditure, §62,868.96; per
ease, $13.62.
Transients, 31,746; expendi-
ture, $66,520.70; per case,
$2.10.
Rural rehabilitation, 7,548;
expenditure. §935,702.76: per
case. *123.97.
These funds are specially
ear-marked and cannot be
spent for resident relief pur-
poses. These programs hiked
total relief grants for the
month to $5,100,697.08.
Administrative costs during
February including a]l.non-re-
lief salaries and other obliga-
tions, amounted to *496,-
460.64, or 8.22 per cent of total
obligations. This is exactly the
same administrative cost as
was reported for Janaary. It
amounts to *1.57 for each re-
lief case.
Project supervision, includ-
ing materials purchased, ren-
tal and service charges and
non-relief salaries, amounted
to $279,656.62.
Material for production of
DEM EDS RIBUG
SCHOOL HID GOUESE
ELMOS MOLE
Austin, Tex., April 8—Al-
most twice as many requests
for public school and college
teachers were filed with the
University of Texas Teachers'
Appointment Committee dar-
ing the twelve months’ period
which -closed January 31,1935,
33 during the preceding year,
according to Miss Miriam
Dozier, secretary of the com-
mittee. The total number of
calls for teachers was 1,214,
as compared with 863 appli-
cants for teaching positions. A
total of 672 applicants were
elected to positions.
“It is regrettable that the
number of calls is so much
larger than the number of
placements,” Miss Dozier said.
“This is dae, of course, to the
fact that so many of the calls
were for types of positions for
which our candidates were not
qualified. For instance, near-
ly all of the calls for college' or
university teachers repaired
the doctorate degree, and
there is not such a large num-
ber of such candidates, in our
section of the country, at leist.
“Again, we had an abnor-
mally large number of calls for
primary teachers and few heme
economics teachers. We were
not able to supply teachers
for either of these fields to
equal the demand. Again,
many of the calls were for
teachers with special extra-
curricular abilities, such as
athletics, speech, debate, dec-
lamation, dramatics, band J r-d
orchestra, public school music,
etc. We are sorry to say that
ouF%raduales are poorly'pre-
pared to meet such require-
ments.”
goods cost $101,485.20, and
processing commodities in com-
mercial plants cost $64,011.31.
Average number of persons
per case in February wss 4.1.
The world's greatest selling
power is ADVERTISING.
■■** a m.—j
‘i°-u H^frino- Tenure t’bp ^ T!le bottom of the derrick.
U i f ^ 1 The fas will be ignited and
smc™ i aM°we<* t0 bum until the der-
ridk is aflame. Then fire fight-
Febrt&ry. During February j w;ii deirirmsd-ratp thpir
and"’ it ne?°- i ”«il»SS by e*tn£ishtog
and the pence margin 4.09a. (. JLe
JEU«nrf !n±T,te f* rL*f£ | Other features of the expo-
demand and partly forecast wiiI indude 8n arnateu-
the drastic break which occur-
red in cotton prices March 11,
he explained.
In his monthly cotton bal-
ance sheet. Dr. Cox said: “To-
(Continued on Page 3)
floor show with oi! men as
the actors, a goif tournament
and international first aid con-
tests.
Approximately 80,900 per-
I sons attended the exposition
'last year.
TO REIGN AT AGGIES’ COTTON BALL
Miss Elizabeth Pool, San Antonio, will reign as queen
over the 1935 Cotton Style Show and Pageant at Texas
Texas A. & M. College April 5 with Yr A. Moseley.
Quanah, as king. Miss Pool was electeu by the student
council of Texas State College for Women (CIA) upon the
Aggie invitation. Seven tv-five young written repretesfing
educational institutions of Texas are expected to appear
in the royal court.
No. 541
Guaranty Bond State Bank Statement
OFFICIAL STATEMENT OF FINANCIAL CONDITION
of the Guaranty Bond State Bank, at Timpson, State of
Texas, at the close of business on the 4th day of
March, 1935, published in the Timpson Times, a
newspaper printed and published at Timpson, Stab of
Texas, on the 1st day of April 19*5.
RESOURCES
Loans and discounts, on personal or collateral
security .............................$ 70,778.15
Loans secured by real estate............. 15,OOC 00
Government 12e Loan on Cotton.......... 59,087 48
Overdrafts ............................ 1,074.80
Securities of U. S., any State or political
subdivision thereof................. 24,378.92
Other bonds and stocks owned............ 800.00
Customers’ bonds held for safekeeping..... 36,225.90
Banking House ...... 15,500.90
Furniture and Fixtures,....... 4,800.00
Real Estate owned, other than banking house 19,740 23
Cash and due from approved reserve agents. 28,888.63
Assessment Federal Deposit Insurance Corp. 266.58
Cotton Bills of Exchange................. 10,858 41
Livestock .............. 117.00
TOTAL............ 3285,615.18
LIABILITIES
Capital Stock ...........*40,000.00
Income Debentures sold. .*25,000.00
Total Capital Structure.................. 65,000.0.1
Surplus Fund .......... 8,000.09
Undivided Profits, net................... 855.96
Individual Deposits subject to check,
including time deposits due in 30 days... 168,960.96 j
Customers'bonds deposited for safekeeping. 36,225.09 |
Other Liabilities ............ 7,878.28 |
TOTAL.......................$285,515.18 I
STATE OF TEXAS, I
County of Shelby. ♦
We, W. T>. Wade, as President, and B. J. ?
Hawthorn, as Cashier of said back, each of ns do solemn- «
ly swear that the above statement is true to the best of §
our knowledge and belief. «
W. D. Wade, President. S
B. J. Hawthorn, Cashier. £
Subscribed and sworn to before me this 1st day of y
April, A. D. 1935. • §
t T. J. Moljcy, Notary Public, Shelby County. Texas, f,
| CORRECT—ATTEST: J
J. D. Hairston, T. P. Rutherford, A. >,Y. Si.ausers, ?
f Directors, %
foo*»e«s«i»|iK tini at tss n see ssm »
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Molloy, T. J. Timpson Daily Times (Timpson, Tex.), Vol. 34, No. 67, Ed. 1 Wednesday, April 3, 1935, newspaper, April 3, 1935; (https://texashistory.unt.edu/ark:/67531/metapth766692/m1/1/?q=Lamar+University: accessed May 31, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Timpson Public Library.