davidaulloa/AmericanStories huggingface dataset:
Holmes County herald., 1963-05-09
National Currency Act marks
new era in banking business

spread demand for banking
reform; many contended that
centralized control and uni
form notes were the only
means of achieving a salts
factory currency. Not until
the demands of Civil War fl
nance, however, was this need
met.
Thus Congress had two prin-
cipal motives in providing for
a new system of national, that
is, federalIy chartered, banks
to be owned and operated 10y
private individuals; ID to re-
place the unsound and unsafe
state banking system with
new banks that would issue
safe and uniform currency,
and (2) to secure a new source
of loans with which to finance
the Civil War. Interestingly,
the bill which was passed
proved more useful as a means
of banking reform than as a
source of Civil War funds.
The general plan of the Ma
tional Act may be found in
the December, 1861 report of
Secretary of the Treasurery
Chase. A draft bill was intro
duced to the House of Repre-
sentatives by Rep. Hooker of
Mass, and was reported ad-
versely by the House Ways and
Means Committee on January
8, 1863. A month later, Sena-
tor Sherman reported from
the Senate Finance Committee
a bill similar to the Hooper
bill. 1t was finally passed and
was signed by President Lin
coin on February Is, 1868.
The National Currency Act
owed much to earlier state
banking laws, particularly the
New York Free Banking Law
of 1888. The major difference
was that the national system
guaranteed full payment of
the new bank notes issced by
the Government.
Anyone meeting the general
requirements of the new law
was to receive a charter and
permission to engage in bank
ing. 1t created the office of
Comptroller of the Currency
i'm the Treasury Department,
and vested it with the power
to grant charters and to adj
minister all laws relating to
national banks. The Honorable
Hugh H. McCulloch gave up
the presidency of the State
Bank of Indiana to accept the
appointment as the first Comp
troller of the Currency.
Some of the principal pro-
visions of the Act were the
following:
ID Capital. Minimum re-
quirements imposed were
(a) $4,000 for banks to ibe
established in towns or cities
of less than 10000 inhabitants;
90 100000 for banks in
cities With over 10000 inhabi-
tants. Before a bank could be-
gin business, at least 80 per
cent of the subscribed capital
had to he paid in. Prior to
1868, capital for the establish
ment of a new bank would be
subscribed, but, in many
cases, was never actually
paid in. In some areas, wild.
cat" banks which were moth
ing more than paper institu'
tons, had been prevalent. The
new law sought to insure the
-
Holmes County herald., 1963-05-09
CHANCERY SUMMONS
THE STATE OF
MISSISSIPPI

TO: Ruthie B. Martin
You are summoned to ap'
pear before the chancery
court of the county of Holmes
in said state, on the 4th Mon.
day of May, A. D., 1868 to de.
fend the suit No. 10468 in said
court of Charlie Martin
wherein you are a defendant.
This % day of April, A. D.,
1853.
Parham H. Williams
(SeaD Clerk
4-25-4tu
Holmes County herald., 1963-05-09
NOTICE TO CREDITORS

No. 10463 Letters of Guard
ianship having been granted
on the 24th day of April, 1868,
by the Chancery Court of
Holmes County, Miss, to the
undersigned upon the estate
Of Mrs. Julia Beall Walton,
NCM, notice is hereby given
to all persons having claims
against said estate to present
the same to the Clerk of said
Court for probate and regis
tration according to law with
IN six months from the date
of the first publication of this
notice, or they will be forever
barred.
This the oath day, April
1868.
Miss Clara Watson
Guardian
5-2-4tr
Holmes County herald., 1963-05-09


of land conveyed to Stephen
Rice by F.. D. Watson on
the 1st day Of January,
1924, as shown by deed re-
corded in book 38, page S
of land deed records of Hol-
mes County, Mississippi.
/ will convey only such title
as is vested In me as subSti-
.uted trustee.
WITNESS my signature on
his the Oath of April 1868.
Pat M. Barrett
Trustee
4-25-4tc
Holmes County herald., 1963-05-09
CHANCERY SUMMONS

To: Joseph P. Torrey, Philip
H. Torrey, Peter Torrey,
Henry M. Torrey, Robert M .
Torrey
You are summoned to ap-
pear before the Chancery
Court of Holmes County, Mis-
sissippi, before the Chancel-
lor in Vacation at 1000 o.
clock AM, on the 14th day
of June, 1868, in Yazoo City,
Mississippi, at the Yazoo
County Court House, to show
cause if any you can why,
| the Final Account of Malcolm
Holmes County herald., 1963-05-09
r!37!lI|5lI38
NOTICE OE SALE

Whereas, on July 13, 1860,
Lillian j. Anderson executed
a trust deed under the terms
of which the hereinafter deS-
cribed land was conveyed to
Roland Maddox as trustee to
secure the payment to u
Finish Homes, Inc. of an in
deDtedneSS therein described,
whicn trust deed is recorded
in trust Deed Book 120 at
page 435 thereof, of the
Trust Deed Records of Hol-
mes County, Mississippi, and
whereas, Kemwall Financial
Corporation is the corporate
successor to U-F'inish Homes,
Inc. and is now the legal
owner and holder of said in
deptednesS, and whereas, the
Undersigned was duly appoin-
tea as substituted trustee in
said ueed of trust on April y,
1868, by written instrument
flied for record on April 10,
1868, at 8 A. M. and actually
spread at large on the record
OF t1oImes County, Mississippi
Dy proper recording on April
Is, 1865, and default having
been made in the performan-
ce or said trust deed, and the
noIuer thereof having request
ed the undersigned to sell
said land as provided by law
and said deed Of trust; there
fore, the undersigned will, on
Friday, May II. 1868, within
legal hours at the East front
aoor OF the Court House in
the City OF Lexington, Holmes
County, Mississippi, offer for
sale and sell at public out
cry to the highest bidder for
cash, the following described
real property situated in Hol-
mes County, State of Missis-
slppi, to-wit:
Begin at the Southwest cor
ner of Lot 4, Section SO,
Township Is, Range 2 East
and run North along line
between Section 35 and 36,
Township Is, Range 2 East,
a distance of 28.22 chains to
a stake and run thence
North 66 degrees East 10
chains to the Beginning
point, which is also the Nor
theast corner of the lot con-
tanning Al acres of land
heretofore conveyed to Bet
tie Rice and Rena Tate by
Miss E. E. Sutton as shown
by deed recorded in Book
As, page 285 of the land
deed records of Holmes
County, Mississippi, and
then run North % degrees
West 400 chains along the
West line of a street rum
ming Northerly and Souther-
ly along the property here
in conveyed, thence run
South sc degrees West 500
chains along an old fence to
Ashcraft branch, thence
South % degrees East 400
chains with said branch to
the Northwest corner of
said Al acre lot heretofore
conveyed to Bette Rice
and Rena Tate by E. E.
Sutton, as aforesaid, thence
run North Sc degrees East
3 chains along the North
boundry of said lot contain
ing Al acres conveyed by
E. E. Sutton to Bette Rice
and Rena Tate as aforesaid
to place of beginning, and
situated in Lot 4 of Section
36, Township Is, Range 2
East. BY which description
it is intended to describe
that certain LOT and marcel
Holmes County herald., 1963-05-09
CHANCERY SUMMONS
he State of Mississippi.

The State of Mississippi.
TO: ESSie Lee Burnett
You are summoned to ap.
pear before the chancery
court of the county of Holmes
in said state, on the 4th Mon
day of May, AID, 1868 to de-
fend the suit No. 1914 in
said court of Eugene Burnett
wherein you are a defendant
This 30th day of April, AID.
1868.
Parham H. Williams
Clerk
(SeaD 5-2-4tI
Holmes County herald., 1963-05-09

financial soundness of a banl
by makino certain that It &C
tually possessed some finan
cial assets. The stock wa!
subject to double liability
thus giving added protection
to depositors and notehOlder'
in case of failure. Each banl
was required to deliver to the
Treasury, United States regis
tered bonds amounting to one
third of it's capital stock, thu
purpose being to expand tht
market for government securi
ties. Bonds SO deposited coulC
be used as collateral for is
sues of national bank notes
~ Regulation of banl
loans. Lending on real estate
by national banks was for
hidden. In the first half of the
nineteenth century many
banks, particularly those ir
the newly developing Mid
western and Southern states
had the bulk of their assets
loaned out on long-term agri
cultural and farm loans. This
meant that a large part Of
their assets was illiquid. Pre-
sentation of an Unexpectedly
Large number of bank S
notes or a sudden demand fol
withdrawal of funds by ever
a small percentage Of it's de-
positors could force a bank tc
close. The prohibition impos'
ed on real estate lending was
to promote the safety and liq.
uidity of a banks notes and
deposits by obliging it to hold
it's assets in Shorter-term
commitments.
90 Supervision and exami.
nation. National banks were
requirtd to supply the Comp.
troller of the Currency with
periodic reports on their fin
ancial condition. They were
also subject to examination
by his representatives.
(40 Reserve requirements
against notes and deposits.
Certain National banks, be-
cause of their location, were
required to hold reserves of
25 per cent while others in
other cities needed reserves
of only Is per cent of their
outstanding circulating notes
and deposits. This require
ment was to enhance bank
liquidity and limit undue ex-
pansion of bank credit.
90 Protection to notehOld.
ers. Banks were permitted
to issue notes only against
United States Government
bonds deposited with the
Comptroller of the Currency,
not to exceed 80 per cent OF
either the par of market value
of the bonds, whichever was
smaller.
National bank notes (pape1
money! were uniform in de-
sign and engraved under the
direction of the government
but were put into circulation
by individual banks. Each
bank, after impranting the
notes with it's own name, was
charged with keeping them
convertible on demand into
lawful money" i.e., green
backs. Should a bank be un.
able to redeem it's notes, the
bonds pledged as security
were sold by the Comptroller
and the proceeds used to pay
noteholders. Any remaining
claims of noteholders cOnsti.
tuted a first claim against the
Holmes County herald., 1963-05-09
NOTICE OF APPLICATION
FOR PAROLE

1. Travis Butler, am apply
ing to the State Parole Board
for parole. l was convicted in
Holmes Ciunty in 1852 for
Murder and sentenced to the
State Penitentiary for Life.
Date 4-10-1963
TRAVIS BUTLER
4-18-3tc
Holmes County herald., 1963-05-09
new! ATLAS PLYCR0N TIRE

for quicker, safer stops You get more mileage,
less side slip turns, easysteering, real control!
You have choice of two quick-action guaran-
tees. Adjustments can be prorated on treaddepth
remaining, or on number of months in use. And
Standard Oil stands behind every ATLAS tire.
Come in soon. then go safe-go Standard!
Holmes County herald., 1963-05-09

How do you look at tire-tread? At depth only?
You should also look at the amount of rubber
in contact with the road! New ATLAS Plycron
puts up to 25% more working rubber on the road.
The ATLAS tire spreads the cars load over
far more surface. Together with its improved
tread design, it gives up to 16% better traction
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Art Notes

The Emerson Art Gallery,
1907 Emerson avenue, Nc
Lean, Va, is opening its new
season with a one-man show
by Robert Willis. The exhibit
can be seen on Sundays from
4 to 8 pm. during the month
Of September. Also opening
today and continuing
through october 2 is a Group
Show at the Lee Gallery in
Alexandria.
Opening tomorrow at Har-
rigan's Restaurant will be a
showing of 35 paintings by
Elizabeth Beer. The show will
continue through Septem-
Der 30.
A group Of watercolors and
by the artist-writer Ludwig
Bemelmans, created for the
Madeline books, Marina and
The Italian Holiday. will be
shown at the Chevy Chase
Galerie, 7424 Waverly street,
Bethesda on Sunday, Sep
TENDER is. The show will be
on view for two weeks fol-
lowing.
Opening Tuesday at the
Pan American Union will be
an exhibit Of mosaics by
Freda Of Brazil and on
Wednesday an exhibit OF oils
and watercolors by Pariente
Amaro of Uruguay.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Dick Perhaps
Is DESIGNER

HOLLYWOOD (NANA)-
Dick Van Dyke, who Rays
one of Shirley MacLaine's
five husbands in What A
Way To Co." was approached
by a troubled Edith Head at
a pre-production party.
Miss Head, who admits this
Is the most challenging as
signment of her long design
ing career, asked Dick how
he would visualize Shirley
being gowned for her sequence
with him.
THE dirndl and peasant
blouse-type," Dick answered
promptly.
Miss Head, left momen-
tarily speeches., announced
that this was exactly what
she had in mind for her.
Well" gasped Dick, equally
floored, maybe I'm in the
wrong end Of this business"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Betty's Poor Nerves
Are Always Tense

HOLLYWOOD, tAP). -
Betty Hutton is one of the
more talented performers in
show business. but every
time she goes before a camera
or an audience she says she
thinks she stinks.
And that explains this fifth
Betty Hutton comeback story
in 10 years.
Betty has retired more times
than Fred AStaire but has
yet to equal Sarah Bernhardt'S
record for farewell perform
ances. OF course, there's quite
an age difference involved.
Betty may yet break the
record.
I'm just too much of a
perfectionist," says Betty.
I'm not satisfied with pleas
ing the public, l must please
myself"
Betty has been onstage
since she was 3 years old but,
she says:
Every time that curtain
goes up, l get scared to
death"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
All! POLITICS.!
BY BOB THOMAS
AP Movie elevision Writer

HoLLYwOoD.-With the
1864 presidential election
approaching, United Artists
is confident THE Best Man"
will win.
The company is backing a
film version of the hit play
by Gore Vidal and giving it
a presidential cast. Starring
are Henry Fonda ("Young
Mr.. Lincoln") and Cliff Rob-
ertson opt 1927. There
also is Lee Tracy, who played
the third top role, that of
the peppery ex-President, on
Broadway.
Adapting the play to film
is Vidal. Part of the deal
when he sold the film rights
was that he would go along
as adapter.
He sold a hit play. visit
to a Small Planet" to the
movies and it ended up as a
vehicle for Jerry Lewis.
II didn't see the Lewis pic
ture, but I read the script"
said Vidal. "As far as I could
see, they used none Of my
material"
1.-THE Best Man" was first
placed in the hands Of Frank
Capra, whose "Mr. Smith
Goes to Washington" and
"State of the Union" made
him seem a natural. But the
collaboration Soured.
IT told him we would can
Gel each other out" said
Vidal. II would make him
seem saccharine and he
would make me seem bitter.
Our styles didn't blend"
The project was revived by
Producers Stuart Miller and
Larry Truman. 1t will be in
the theaters by next spring,
when the presidential fever
should be pitched high.
I'm pleased at the pros
pectS," said Vidal. THE cast
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01

Grand Marches by Beetho-
ven, an Andante and varia-
lions by Mendelssohn, the
Fantasia in F minor by Schu-
bert and several Of Dvorak's
Slavonic Dances. The pianiSts
probably play better than
the record credits them with,
for the sound falls short Of
pO0d nIlalitu
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Some Beethoven

Leonard BernStein'S New
York Philharmonic plays the
Fifth Symphony and Bern
stein discusses it on a bonus
record" included with the
Columbia record. Bernstein's
Fifth is big-scale and perhaps
for some a bit overblown and
slow-paced. For others it may
sound like nobility itself. This
listener prefers a leaner,
more dramatic account, but
gives the New York orches-
ira its due in the sound de-
partment.
Two other Beethoven SYM
phonies, the Second and
Fourth, are re-issued on the
Everest label. This is Josef
Krips and the London Sym
phony, and that means ex-
cellent reading, even If the
sound is not expansive as it
might be.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
The Nutcrucker

Everest has a record Of
Relationships Nutcracker
Suite which is a good COM
promise between the full q
record ballet and the obvious
dances (Sugar Plum Fairy.
Chinese, etc. which are
standard fare. The suite in
cludeS a good measure of
other excerpts as well as
the obvious ones, and is done
very well by the London
Symphony, conducted by
John Hollingworth.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
But This Hawaii
Wasn't the One

HOLLYWOOD (NANA). -
Banner line on Hollywood
daily Variety the other morn
ing provoked some startled
blinks, even among those who
figure themselves in the
know: Salvation Army buys
Hawaii"
But it wasn't the 50th
State that was changing
hands-just an old movie
town Hollywood boulevard
landmark, the Hawaii theater,
which the religious organiza-
tons has bought to recon-
struct to house its operations.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
The Trout. etc.

Outstanding Music Buy
One Hour Long LIP" en-
blazons the Columbia record
blurb. The reference is to
Schubert's Trout Quintet and
Beethoven's Piano Quartet
in E-flat major. Columbia is
right-it is outstanding, even
If Messrs. s g. B might be
shocked to know they were
being sold by the minute.
What we have here are
three members Of the Buda-
pest Quartet plus pianist
Mieczyslaw Horszowski and
bassist Julius Levine. Hors-
zowski is his inimitable self
In the keyboard part, the
Budapesters are their reliable
selves, and together. this
comes off as an enchanting
hour indeed. A good ex-
ample, too. Of how the latest
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Brahms Concerto

Zinc Francesatti must have
felt particularly disposed
toward Johannes Brahms the
day he, the New York Phil
harmonic and Leonard Bern
stein recorded (Columbia)
the Brahms Violin Concerto.
No recording in memory has
more tenderly limned this
famous concert piece. 1t is
not hard to see why Fritz
Kreisler called Francescatti
one of his favorites, for he
has the kind of sweet, warm
tones the old master drew
from his own fiddle. Senti-
mental, but not syrupy.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
VHtuoso Trumpet

Here is Volume 2 of trum-
pet pieces guaranteed to lift
the spirit. Only one of the
selections has been frequently
heard-Haydn's Concerto in
E-flat major for Trumpet and
Orchestra. From there the
program moves on to works
for six trumpets by Biber, two
trumpetS by MaAfredini, four
trumpetS by Albert, and sin
gle trumpet by Leopold Mo-
Fart and Torelli. The orches-
ira is the fine I Solisti di
zagreb. with Antonio Jani-
gro conducting.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
BY HERMAN SCHADEN
Star Record Critic

Joan Sutherland's new al
bum, a two-record set called
Command Performance" in
many ways measures up as
the finest of its kind. First
and most noteworthy, the
Australian soprano must be
in the best voice of her ca
reer, at least for recording
purposes. Second, the Lon
don studio engineering is of a
quality which brings out the
best. from top note to bot
tom.
ocean" on Program
The Command Perform
ance" motif represents a
program of the kind of mu-
sic Queen Victoria invited to
her court. There is an inter-
esting booklet describing the
music, something about it's
history and the sopranos who
introduced it.
One of the records has
Weber'S Ocean! thou mighty
monster" from Oberon, Mas
senet'S "Pleurez mes yeux"
from lie Cid, Meyerbeer's
Shadow Song" from Dino
rah, Leoncavallo's "Strido-
no LasSau" from I Pagliacci,
Verdi's "Tu del milo Carlo"
from I Masnadieri, Verdi's
"Tu puniscimi o signore"
from LuiSa Miller, RoSsini's
"Vorrei Spiegarvi" from La
Cambiale di Matrimonio and
Bellini's Och Sc I'm urna"
from Beatrice de Tenda.
Verdi Arias Shine
AS may be seen, there is
much that is familiar, but
much more which is seldom
heard. The Verdi arias are
stunning, and Miss Suther-
land demonstrates her great
dramatic range in an ele-
CANT ocean" and a fluting
Shadow Song"
The second record deals
mainly with songs, many of
them florid and airy, and
others like Flotow's 1.-THE
Last Rose of Summer"
Home Sweet Home" and
Bishops 10, Hear the Gentle
Lark" Some may not find
Miss Sutherland as satisfy
ing in these, but this review
er believes she sings them
from her heart. Others on
this record include the IA
nous III Bacio" by Arditi,
Tosti's, La Serentata" and
"Ideale," Benedict's THE
Gypsy and the Bird" Ricci's
II Am No Longer Annette"
and Wallace's Scenes That
Are Brightest" from Mari
tana.
Miss Sutherland has the
admirable support of her
husband, Richard Bonynge
conducting the London Sym
phony Orchestra land play
ing the piano for a couple
of the sonRs)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
All! POLITICS!
Best Man. Delayed
For Campaign Year

ing is fine, and I'm delighted
that Lee Tracy will be do
ing his part. I take credit
for that.
II argued, Why pay Spen-
Ger Tracy or some other name
a lot of money when you
can get the actor who can
do the part best?"
Although the play is more
than three years old, Vidal
said little updating was
needed.
Il had to take out the
line about the difficulty of
electing a Catholic Presi-
dent" he said, but most Of
the other matters are just
as applicable today. The
part about whether a di-
vorced man could be elected
President couldn't be more
timely"
President Helped
THE Best Man" concerns
chicanery within a party con-
vention and was written by q
political insider. Vidal is the
grandson of a Senator and
himself ran unsuccessfully
for Congress. He admitted to
having some help with the
play.
President Kennedy read
the first draft and gave me
a couple of lines" said Vidal.
"One thing he told me was
there was one way to be sure
when a politician was going
to knife you. That was when
he said in parting, Just let
me know If there's anything
I can do for you"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1963-09-01
Two on Piano

Yehudi Menuhin's sister,
Yaltah. is an accomplished
musician in her own right.
An Everest record finds her
pairing with a young pianist,
Joel Ryce, in a rarity these
days-two people playing one
piano. The program is Three