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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 13, 1931
Page
9
Wallace B. Davis and Dr. Sinclair deny knowledge of actions behind the bank’s collapse. State contends a September 24 report inflated cash reserves while hiding public funds and overdrafts. Directors unaware of $14 million in assets pledged for public deposits as the bank faced liquidity gaps.
The oil government at Valencia resigns amid unclear motives while martial law covers many cities in Spain. Madrid sees worshippers in churches after quiet returns, as troops mobilize to guard the Bank of Spain amid rumors of a communist raid. Calvarymen, artillery, tanks and armored cars mass near the bank as streets detour and shutters close.
Chicago on May 13 reports varied potato prices with Wisconsin white rounds 1.30 to 1.40 per cwt and Minnesota 1.15 to 1.30, Idaho russets about 1.55, No 2 1.00 to 1.10. New stock weak and trading slow while Michigan and Florida listings show multiple grades and smalls.
The North Carolina Supreme Court issued 14 opinions, most on civil actions. It sustained a $1,150 damages award for Nettie Merrit Grier from an Charlotte automobile collision and affirmed or reversed various other cases across Mecklenburg Guilford Pitt Polk Avery Transylvania Henderson counties.
Four Rutherford county men convicted of violating state banking laws paid $52 500 into superior court to clear themselves. A fifth defendant J L Taylor was given until Saturday to raise his share of 75 000. Judge Hoyle Sink also allowed B B Doggett to pay 7 500 in lieu of trial. Costs total about 2 500.
In New York on May 13, industrials held firm against rail weakness as trading showed dullness. Rail declines eased, with Union Pacific and Atchison lower, while Woolworth led a select rally for the department stores and other groups steadied. Credit markets stayed strong with lower banker’s acceptances and Fed rate cuts, as call money steadied at 1 1/2 percent.
The May report from Superintendent T Wingate Andrews shows city schools with 8200 students enrolled to date and a daily attendance increase of 272 over last year. Junior high leads with 97.3 percent, Brentwood at 96.5, and Senior high at 96.2, as phosphorus by schools follows.
The Turner Twins from Winston Salem gave an entertaining program at the Monarch Club luncheon at the Sheraton Hotel. Joseph Snider and Ray Smith organized the event, with R. R. Blackburn presiding in A oke Cecil's absence. RE. O. McGehee of this city attended as a guest.
R. E. Shirley of Davidson County files a $175 suit in municipal court against Standard Oil and truck driver Ivey A. Teague of the High Point branch for damages to Shirley's Chevrolet coupe on the Thomasville highway December 19, 1930. He alleges the parked truck on a hillcrest blocked visibility and forced his car into the truck, causing extensive damage to the radiator, headlights, hood and fenders.
Milledge Bargle a 60 year old Black janitor was charged with an alleged incident involving the three year old daughter of Mr and Mrs J F Garrett of 1111-2 South Hamilton street He remains in Guilford county jail awaiting a June 16 grand jury hearing The grand jury was to meet yesterday but adjourned delaying the case until the June term of Guilford superior court The arrest occurred Sunday afternoon and caused high feelings the following days
Wheat averaged higher in early Chicago trading on May 13 while corn declined. Liverpool reported stronger demand for wheat with European buyers returning to the market and trans Atlantic crops showing late activity.
Lieutenant T A Early of the fifth district highway patrol says fewer arrests would occur with a statewide drivers license, noting 140 arrests last month and an average $13.60 cost per arrestee. He cites ignorance of the law as a key cause and outlines traffic violations, fines, and total penalties from April.
J Elwood Cox R R Ragan and Dr Dred Peacock directors of the Carolina Mortgage company attend a Raleigh board meeting today and plan to return home tonight.
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