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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 26, 1937
Page
3
In a discussion of finance and banking strategy, the author urges hedging against rising money costs. Banks are highlighted as a protective element, with loan activities expanding and bond prices pressured by higher rates. Local bank stocks and new federal banking laws are noted for added security, shaping prudent hedges.
The Enterprise lists vote counts from several North Carolina cities including Greensboro and Asheboro with figures such as 445 for Burlington and 364 for Salisbury. The notice states no votes received after the stated time will be counted in the final tabulation.
With 41 states counted, total votes near 333,417. 66 percent opposed plan, 34 percent for, as 213 cities report results. Smaller towns show stronger opposition. 58 of 213 cities favor the plan, while 156 oppose. Large cities vary, with 27 cities over 100,000 showing 65 percent opposed.
Earnings of most country banks in 1936 rose notably from 1935. If a hometown bank holds few long term government bonds and its directors are sensible, its stocks should now be a good long pull investment.
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