Newspaper Page Text
COTTON
Vol, CXIX, No. 300.
f.nnual Year-End
ieet Of Council
U'eld Friday PM
Anuual year’s end meeting of
the Mayor and Council was held
Friday night in the Council Cham
ber of City Hall for the purpose
of clearing away old business for
the new council organization and
to consolidate the ballots of the
recent Democratic Primary.
Councilmen present included C.
S. Denney, M. B. Pound, W. N.
Danner, R. W. Phillips, Roger Haz
en, Dick Thompson, Owen Roberts,
and Luther T. Bond. Absent were
Councilmen Kenneth Guest and
Albert Wier, jr.
The meeting was opened by
Vavor Jack R. Wells with prayer
of’ered by Councilman Hazen and
the minutes were read by Clerk
Allen Smith after a commitee of
three was appointed to consolidate
the ballots. The committee headed
by M. B. Pound, included Council
saen Danner and Roberts.
The conscolidation of the ballots
gevealed that the amendment
providing for the setting up of the
office of tax assessor and a board
of tax appeals was defeated by tr
count of 166 for and 253 agains.
Other amendments included the
absentee ballot which passed with
497 citizens wvoting for and 122
against, the opening of the Polls
at an earlier hour and remaining
open till 6 in the afternoon passed
with a 517 to 102 count, the ex
tension of the City Recorder’s
term passed with a 503 to 112
count, and the extension of the
term of the incumbent City At
torney was passed by a 538 to 271
vote.
Bullptin Praised
Communications received by the
Mayor and Council included two
congratulatory letters from Uni
versity officials concerning the
Athens bulletin which was pub
lished recently. Letters were re
cieved from University President
O. C. Aderhold and Public Re
lations Director Dyar Massey, both
of whom termed the bulletin “ex
cellent in every respect.”
David W. Lynch, resident of
Fortson Drive, requested permis
sion’ by letter to drill the pave
ment on that street to install
sanitary facilities. Communications
were held by the clerk to be re
ferred to committees after the
organization of the new Council.
A paving ordinance was read by
the Slerk and was passed unan=-
imously upon motion by Council
man Thompson. - The ordinance
wds for th:h?avmgi of Nantahala
with standard width and with the
cost to be shared by the property
owners aceording to the number
of frontage feet on the street.
The council approved the re
fund of money for a beer license
given to Amanda Harris Townes.
The license wae revoked because
of the fact that beer was being
sold in a residential area. It was
siressed that the license was not
being revoked for any miscon
duct reason and the council voted
unanimously to refund the money.
Committee Findings
Couneilman Hazen reported a
meeting of the Finance committee
and made the following recom
mendations to the Council which
were passed: (1) that the request
of E. B. Mell, agent for John D.
Mell, be settled by canceling from
record the sewer rent charged in
excess of one toilet at 329 Lvndon
Ave. for the time beginning Tan
uvary 1, 1950 and Jan. 1, 1951 and
amounting to SIB.OO for the two
vears. No recommendation is
made for adjustment of the charge
for 1949 since all toilets were in
operation on the assessment date,
Jenuary 1, 1949.
(2) that the request of Rev. Brun
son Wallace be held in committee
pending investigation of City At
torney on question involving tax
ezemption of religious property.
(3) that Council grant the request
of J. B. Sharpe doing business as
(Continued On Page Two)
Te " |
“torms Lashing
e
R E
ey
#
iestern turope
LLONDON, Dec. 29—(AP)—Fur
ious storms, whipped up by hur
ricane winds roaring across the
Atlantic, lashed Europe’s western
coasts tonight and 26 persons were
renorted dead or missing. :
Rough water razed from Spain
to Scandinavia. The Atlantic was
o-e vast boiling cavldron, from
th= Bay of Biscay to Britain.
Sixty-foot waves pounded over
the coast of Southern England.
Hundreds of small boats lying at
anchor were swamped. Even the
gi2nt Queen Mary limped into port
72 hours late.
~ MMost of the frequent radio calls
frem ships in distress came from
the zrea off Land’s End, the south
eastern corner of England.
A dispatch from Spain said 15
Spanish fishermen have been lost
In the last three days. Ten storm
deaths developed in Ireland, where
the hurricane winds struck most
fiercely, and another was reported
on an American freighter at sea.
~ Many ports reported extensive
damage,
CGreat waves were rolling into
French ports. An 18-inch layer
of sand was deposited on some
buildings at Biarritz,
Among big vessels signaling for
help, the 6,711-ton U. S. freighter
Flying Enterprise, carrying a crew
of 40 and 10 passengers, appeared
worst eff, Rescue ships moved in
s the Flylng Enterprise listed 60
to 80 degrees in the battering seas
on the approaches to the English
Channel,
- A radio message picked up in
Hotterdam, The Netherlands, from
the U. 8. troopship Gen. A. W.
Greeley gaiq all persons had been:
removed from the stricken
freighter except her skipper, Capt.
Kurt Carlson,
ATHENS BANNER-HERALD
Associated Press Service
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- POW MAIL EXPEDITED — Mail clerks in the Army
| postoffice in Tokyo sort mail from Americans held pris
| oners of war by the Communists, The mail was turned
| over to the UN delegation at Panmunjom by the Com
munists. The mail is getting preferntial treatment.— (AP
Wirephoto via radio from Tokyo.)
Eisenhower Described
As Popular Favorite
BY MARVIN L. ARROWSMITH
WASHINGTON, Deec. 29.—(AP)—A Demoeratie sena
tor described General Eisenhower as an “overwhelming
favorite” for President today, but a Republican congress
man declared President Truman could win another term
if the election were held now.
The Democrat, Senator Douglas of Illinois, told report
ers “‘a great many’’ voters in his party would hop the polit
ical fence and cast ballots for E_isen_hower if the general
becomes the Republican presidential nominee.
Registration At
Universit
The University of Georgia will
open its doors on one of the bus
iest quarters of the year January
2, when students come back to
the campus to register for winter
classes.
The registration date will mark
the end of a lull that settled over
the campus during the Christmras
holidays and the beginning of a
season punctuated by dozens of
special events for students and
University visitors.
Students in the city and
county public schools will be
gin the winter quarter on Wed
nesday, January 2, when a full
schedule of classes will be held.
The lunchroom will also be in
operation.
Sportswise the University will
turn its attention to basketball,
but academically there will be a
wide selection of activities from
which to pick and choose.
Busy Quarter
Traditionally the winter quarter
is a busy one, and the one coming
up in 1952 promises to be no ex
ception.
Charter Day is January 27. The
week preceding will be marked
by many observances throughout
the state. On January 17-18, the
University will be host to visiting
scholar, Dr. Henri Peyre, Sterling
Professor of French and head of
the department of French at Yale
University. He will visit Georgia
under the auspices of the Univer
sity Center in Georgia.
In February, the University has
scheduled its first Conference on
Liberal Arts, February 8-9; and
its 24th annual Georgia Press In
stitute, February 20-23.
Other conferences scheduled for
the three-month period, which are
expected to attract many visitors
to the campus, are the Teacher
Education Conference, January
90-23; a short course in dairy pro
duction, January 23-24; a meeting
of the Southeastern Chapter, So
ciety of Amrerican Bacteriologists,
(Continued On Page Two)
Kiwanis Officers
To Be Installed
Kiwanis officers and directors
for the coming year are to be in
stalled at ceremonies to be held in
Holman Hotel tomorrow (Mon
day) at one o’clock, according to
an announcement made today by
the club secretary.
Those to be installed include
John P. Bondurant, president; A.
D. Soar, vice-president; Van Noy
Wier, secretary-treasurer; Ro_?grt
G. Stephens, jr., district liguten
ant-governor; and the following
directors: 1952 only—J. D. Bolton,
E. B. Cook, Louis Griffith and
Warren Thurmond; 1952-58 —— %:
H, Christian, A.iJ. Denman, J.
Ivy ahd S, Walter Martin, «7« /4 1
‘All Kiwanians are urged to at
tend this very important meeting.
“I think Eisenhower is the over
whelming favorite of the great
mass of American people,” said
Douglas, who has been travelling
around the country since Congress
adjourned in October.
The prediction Mr. Truman
could be re-elected—if the voting
were held now — came from Rep.
Crawford, Michigan Republican.
Crawford said he believes the
income tax scandals turned up by
a House investigating committee
have hurt Mr. Truman politically,
but he added that the damrage
hasn’t been great enough to keep
the President from being re-elect
ed.
Crawford also declared that at
this time Mr. Truman probably
could carry Michigan against any
Republican mentioned for the
GOP nomination.
Mr. Truman and Eisenhower
have not said publicly whether
they will run in 1952, although
Republican backers of the general
have declared repeatedly they are
convinced he will be available as
the party’s standard bearer.
Some supporters have been
plugging Senator Douglas for the
Democratic presidential nomina
tion, but Douglas appeared to
have slammed the door today on
that move.
Noting he has said several times
that he is not a candidate, Doug
las declared:
“In the highly improbable
event it (the Democratic nomina
tion) came to me, I would not ac
cept it.”
In reporting he found “over
whelming” grass roots sentiment
for Eisenhower, Douglas did not
come out directly against another
term for Mr. Truman, whose lack
of enthusiasm for the Illinois sen
ator is no secret.
Douglas said he still hopes Eis
enhower will become the Demo
crats’ presidential nominee, rather
than the Republicans’. But he
added he has no doubt Mr. Tru
man will get the nomination if he
wants it.
Forthcoming Legisiative Slate
: By JIM THOMASSON
ATLANTA, Dec. 29 — (AF) —
Education and taxes—on which
Governor Talmadge and some of
his lieutenants slightly disagree—
as usual will be the main items of
business when the 1952 Georgia
Legislature convenes on Jan. 14.
Pre-session meetings of House
members here ladt week disclosed
nothing else of major importance
likely to be offered at the 30-day
session. But the ealendar will in
clude a wide variety of proposals.
In the education field, proposed
measures range from reorganiza
tion of the State Board of iduca
tion, which Talmadge does not
favor, to reduced fees at state eol
leges.
Opposed By Hand
The principal tax issue is Tal
madge’s plan to virtually eliminate
the state property tax by a ofinl’d
tutional amendmentm op~
posed by House Fred
Hand.
The Georgia Bar Assosiation
wants three major changas in the
state’s criminal laws and from
other sources have come a number
SERVING ATHENS AND NORTHEAST GEORGIA OVER A CENTURY,
ATHENS, GA., SUNDAY, DECEMBER 30, 1951,
Allies Sharply Reduce Demands
For Policing Korean Armistice
UN Move Is Calculated Risk
BY DON HUTH
MUNSAN, Korea, Sunday, Dec. 30.—(AP) —The Allies
sharply reduced their terms for policing a Korean truce
Saturday as a ‘“‘calculated risk’” in hope of an early armis
tice.
An Allied delegate told the Reds it was the final offer
on truce supervision, and must be accepted without change.
“We ghall have nothing further to prop_ose,” he said.
Tiny, Colliding
Planefs Found
By Astronomer
CLEVELAND, Dec. 29.—(AP)—
There are Sunday drivers out in
Space, colliding in heavy traffic.
They are tiny planets, called
asteroids. Their collisions create
millions of tons of pulverized dust
each year, Dr. Stefan L. Piotrow
ski, Polish astronomer, estimated
today.
The asteroids race around the
sun in a belt between Mars and
Jupiter. There are many thous
ands of them, ranging from nearly
200 miles in diameter to small
chunks of metal and stone.
They race each other like cars
on a crowded highway.
They don't all follow exactly the
same path. They have no brakes,
no traffic cops, no steering. Their
mean collision speed is about three
miles per second, Dr. Piotrowski,
University of Krakow in Poland,
said in a paper presented to the
American Astronomical Society’s
86th meeting.
For any given asteroid, only one
direct, completely destructive col
lision might occur in a billion
years, he said.
But its chances of slamming in~
to obiivion ar2 thie¢e times greater
if its orbit is elongated, or is tilt
{Continued On Page Two)
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B o
Adele Giiford displays an in
viting smile as she prepares for
a little skiing at Sonora, Calif,
She shucked off her long wool
ies in favor of a bathing suit
when the temperature rose to
65 degrees, Miss Gifford is a
member of the Carmel, Calif.,
Bki Club—(AP Wirephoto.)
of other suggestions for new legis
lation,
In addition, about 200 bills left
over from the 40-day session in
1951 still are pending in the House
or Senate.
The top educational proposal is
one to eliminate the state superin
tendent of school as a constitu
tional official, elected by the peo
ple, and make him the appointed
executive of the State Board of
Education.
Speaker Hand of Pelham and
Speaker Pro-Tem George L. Smith
of Swainsboro, both administra
tion leaders, are sponsors of the
reorganization Hproposal.
Smith and Hand originally in
tended to pll‘?poso that the State
Board of Eduecation, now appoint
ed z the Go ,be elected by
the legislature. t they réccngy
;nfi)mog that %n wing to she
opinioh of many educators,” the
measure they introduce wiil call
for election of State Board mem
bers by the peaoh;:lel in the various
cogldomlg BEilts.; © iy
wvernor Talmadge is dircelly
opposed to any change in the pro~
SKI SUIT
On the thorny prisoner-ex
change issue, it was agreed to
swap further information on all
prisoners not listed on the records
exchanged last week at Panmun
jom.
The sweeping new Allied pro
posal for truce supervision and
the prisoner issue were on the
table at subcommittee sessions
opening at 11 a, m. today (9 p. m,,
EST, Saturday) at Panmunjom.
The safeguar&s abandoned were
aerial observa¥on anywhere in
Korea during a truce; retention of
outpost islands behind enemy lines
‘(the Allies hold a npumber of
them); a single supervising au
thority for the truce, and Allied-
Red inspection teams free to
travel anywhere in Korea.
In addition, the Allias offered
to permit rebuilding of a limited
number of North Xorean air
fields.
The only safeguard which the
Allies have nailed down is a sound
military defense position during
an armistice.
In return, the Allies asked the
Communists to accept three U. N.
command principles. These are:
3 UN Principles
1. A freeze on military buildup
but limited rotation of troops.
2. Restriction of airfields rebuilt
i'luring a truce to civilian use on
y.
3. Opening all main road and
rail lines throughout Xorea to
neutral truce observers.
An Allied spokesman told cor
respondents that abandonment of
the demand for aerial observa
tion “is by far the most important
concession the U. N. command has
made.”
The decision deprives the Al
lies of a potent means of checking
whether the Reds observe truce
terms, particularly on airfield de
velopment,
An Allied spokesman said the
Communists had about 100 air
field sites in various stages of de
velopment. If completed, these
could be stocked in minutes with
speedy Russian-built MIG Jets
from Manchuria.
In addition, air observation
would aid the Allies in keeping
track of movéments of Chinese
troops from Manchuria.
POW Agreement
On prisoners, the Allied spokes=
man said both sides agreed to ex
change as it is gathered informa
tion on prisoners who have died,
escaped or been released.
The Allies charge that about
50,000 names, mostly of South Ko~
reans, were missing from the list
of prisoners submitted by the
Reds.
The Communists say the Allies
did not account for 44,205 prison=
ers reported earlier to them
through the Red Cross. Most of
these, the Allies contend, were
Sout Koreans forced into the Red
armies and liberated rather than
captured by the Allies.
PARIS POLICE HURT
PARIS, Dec. 29—(AP)—Fifty
one Paris policemen were injured
today, five seriously enough to be
hospitalized, when rioting broke
out between Communists and fol
lowers of General Charles De
Gaulle outside the Renault auto
mobile plant,
The slugfest occurred when
about 1,000 auto workers attacked
with stones a handful of De-
Gaulle’s followers who were sell
ing a party weekly in the streets.
Police tried to stem the assault,
They made one arrest.
sent Education Department setup.
Greer Opposed
So Is Lanier County Rep. John
Greer, a House minority leader.
He plans to introduce a measure
that would continue the present
system, but clearly define the re
spective authority of the State
Superinendent and State Board.
Upson County Rep. Owen
Adams, who conducted a one-man
investigation of the Education De
partment earlier this year, has said
he also will offer a reorganization
;s)lan calling for election of the
tate Board members.
The Governor and Speaker are
in agreement on the other major
education item—Hand’s plan to
malke an additional $5,000,000 an
gu;ig{ available for publie school
uildin
: 'Tlfié finimum Foundation pro
gram for Education now alloeatds
about $4,900,000 a year to local
districts for capital outlay. Hand
will introduce a constitutional
amendment to allocate $10,000,000
a year, for 20 years.
The Speaker wants the addition
al money used as an equalizing
Freed Airmen Tell Of Trial And
Release From Communist Hungary
B enmERE TR
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GREETS FLIERS
Walter J. Donnelly (above)
U. 8. High Commissioner in
Austria, sped to the Austrian-
Hungary border to meet the
four American airmen who were
released by Communist Hun
gary. The airmen, against whom
Hungary levied $120,060 in fines
for alleged border violation,
had been held since their plane
was forced down in Hungary
last November 19.—(AP Wire
photo.)
Fickett Services
Toße Conducted
Today, 3:30P. M.
Millard F. Fickett, widely
known retired Athens jeweler,
died in a local hospital yesterday
morning at 10:50 o’clock after be
ing in declining health for several
months.
Services are to be conducted this
afternoon at 3:30 o'clock at the
graveside in Oconee Hill Ceme=
tery, Rev. J. Earl Gilbreath,
vector of Emmanuel Episcopal
Church, officiating, Bridges Fun=
eral Home is in charge of arrange=-
ments.
Pall-bearers will be Bill Wier,
Ralph Hall, Bryant M. Smith, jr.,
gl Bush, Jim Barrow and Charlie
ird.
Mr. Fickett s survived by his
wife, Mrs. May Andrews Fickett,
Athens, and a sister, Mrs. Ruth
Fickett Campbell, South Paris,
Maine.
Mr. Fickett was born in Booth
bay Harbor, Maine, July 7, 1881.
He attended school in Boothbay
Harbor and graduated from high
school with highest honors. He
attended Philadelphia Horological
School in Philadelphia, Penna.,
graduating in 1906. -
In June of 1907 he married Miss
May Andrews, the marriage unit
ing two family lines long prom
inent and influential in that sec
tion.
Mr. Fickett conducted a succes
ful business in Damariscotta,
Maine, for a time but his health
was such that it could not stand
the rigorous Maine climate, es
pecially the bitter cold and damp
ness of winter, and his physicians
advised him to live in the South.
Came Here In 1911 '
Mr., and Mrs, Fickeit came to
(Continued on Page Two.)
fund to assist the financially
weaker counties and particularly
to equalize white and negro school
facilities.
Talmadge has said that he
doesn’t want any state depart
ments asking for appropriation in
creases in the 1952 session. But he
has disclosed his approval of
Hand’s increased school building
fund plan.
University System
The University System also is
expected to ask for an additional
$1,000,000 a year to finance new
buildings for the University of
Georgia,
And the House Committee on
the Universi(t!y System will pro
pose that student fees at the vari
ous University System units be
reduced. .
Govétnor Talmadge, who per
sonally sponsored the state’s larg
est single tax increage-—the three
per ecnt, all-inclusive sales tax—
now lg advocating tax reduction,
Not only is he actively support
ing a proposed Constitutional
Amendment to reduce the state
(Continued On Page Twu)
Read Daily by 35,000 People In Athens Trade Area
Newsmen Told Fliers Were Held; '
- Queried By Russians For 14 Days
BY RICHARD K. O’MALLEY
ERDING, Germany, Dec. 29.— (AP) —Four American
fliers, whose liberation cost the United States $120,000,
told newsmen today they were held and questioned by the
Russians in Hungary for 14 days before being turned over
to Hungarian authorities.
They said they were never mistreated physically and
were never accused of being spies, but were “interrogated
and interrogated and interrogated” during their 89 days
of solitary confinement. 4
The news conference was de=
layed nearly four hours until
Samuel Klaus, a State Department
legal and intelligence expert, com~
pleted a 38,500-mile flight from
Washington and sanctioned it.
Sitting at the table with the
men, Klaus said he was extremely
interested in the airmen’s stories
because “any future action by the
United States against Hungary or
anybody else responsible, I as
sume, depenids on what these boys
have to say.”
The four men lost their way on
a routine flight from this Ameri
can air base to Belgrade, Yugo
slavia, on Nov, 19 and their C-47
transport was forced down by
Soviet fighters in Communist Hun
gary. s &
Military Trial
They were tried before 2 Hun
garian military court Dec. 23 and
convicted on a charge of inten
tionally violating the Hungarian
border. They were fined $30,000
apiece and told they would be im=-
prisoned 90 days if the fines were
not paid.
They were freed yesterday, after
payment of the fines, regarded in
the West as ransom. They were
flown to Erding after they reached
the Austrian border. The State
Department almost’ simultaneous
ly ordered the Hungarian consul
ates in Cleveland and New York
City closed by midnight Monday,
New Year’'s eve, and banned
American travel to Hungary.
Capt. Dave H. Henderson, 32, of
Shawnee, Okla., commander of the
flight, appeared to have suffered
the most from his experience. He
fumbled with a typewritten sheet
as he gave the formal account of
his adventure. His lips trembled
as he began to speak. A
At the table with him were the
other freed men—co-pilot Capt.
John J. Swift, 34, of Glens Falls,
N. Y., T-Sgt. Jess Duff of Spo
kane, Wash., the crew chief, and
Sgt. James E. Elam of Kingsland,
Ark., the radio operator. 4
Henderson said the Russians
constantly tried to extract military
information from them. Hender
son was cautioned by an Air Force
officer not to elaborate on that
phase of their interrogation.
He said the questioning centered
almost contindally on extra para
chutes, blankets and a “Gibson
Girl” radio aboard the plane. Hun
gary charged this equipment
showed the plane was intended for
use in parachuting spies behind
the Iron Curtain. |
The radio can send only SBOS
signals and along with extra para
chutes and blankets, is normal
equipment on a C-47 in case of a
forced landing.
“Very Friendly”
The airmen said the questioners
were “very friendly,” but their
trial, as they described it, followed
the usual practice in Communist
countries—there was not much
chance to put up a defense.
Henderson said the C-47 was
cleared to follow a specified corri
dor in Yugoslavia, but thick fog
was encountered over the Alps
and the plane flew at 16,000 feet.
The only clear radio signal was
from Udine, in Italy,
This was the story as Hender
son told it:
“Sometime after we passed Za
greb (in northern Yugoslavia) I
found I was lost.
“I checked on the gas to see if
we could go back to Udine. I
tried to contact Belgrade by radio,
but it was no use.
“You see we were cleared to fly
a definite corridor over Yugosla
via.
“I made a decision, after talking
(Continuea On Page Two)
ATHENS AND VICINITY
Considerable cloudiness and a
little warmer Sunday.
G EORGIA — Consider
able cloudiness and a little
warmer Sunday. Ocecasional
light rain in extreme north
Sunday morning.
TEMPERATURE
Highout .. & sive s s vi i
LOWEEE w.is ases bise tbon B
MORD ..ol saei Shne sevs saailii
NONTHNE S 0 i Siie Liva sl
RAINFALL
Inches last 24 hours .. ... .06
Total since December 1 ... 6.25
Excess since December 1.... 1,91
Average December irainfall.: 4i59
Total since January 1 .. ..42.38
Deficit since Janucry 1 .. 7.14
HOME
EDITION
Florida Is Torn |
By Viol
Y vioience,
Terror, Turmoil
error, iurmol
By DON WHITEHEAD
MIMS, Fla., Dec. 29—(AP)—A
dark shadow of violence has drifte
ed across the sunny state of Florie
da—cast by terrorists who blast
and kill in the night.
A negro youth is dragged from
his bed by white men, beaten and
shot dead by five bullets.
A terrific explosion in the night
shatters a little home in an orange
grove and leaves a negro leader
dead and his wife injured.
Explosions rip through dwelle
ings in Miami’s Carver Village, a
negro housing project.
Dynamite blasts damage Jewish
synagogues and a Jewish school.
Explosives are found at the main
door and near Catholic churches in
Miami.
Negroes, Catholics and Jews are
the chosen victims,
Are the outbreaks of violence a
planned campaign of racial and
church hatreds? Is there a master
design to these crimes?
Terrorists Unknown
No one knows but those whe are :
responsible. None has identified
the terrorists who strike in the
darkness,
Outraged citizens and groups in °
Florida and outside the state are
shocked by what is happening.
They are demanding the terrorists
be found and punished.
The latest outrage which has
stirred a nation-wide outery of
protests came on Christmas night
near this little town which #'*
asiride Highway No. 1 leading
south to Miami,
At 10:20 p. m. a violent ex
plosion shattered the home of Har
ry T. Moore, state coordinator of
the National Association for the
Advancement of colored people
and a leader among his people.
Moore had come home to spend
Christmas with his wife, Harriet,
and their daughters, Annie and
(Continued on Page Two.)
Federal Savings
Pay Dividend
Howard H. McWhorter, presi
dent of Athens Federal Savings
and Loan Association, announced
today the declaration of the 45th
consecutive semi-annual dividend
by the Board of Directors of the
Association, which will be pay
able to investors of record on
the books of the Association as es
December 31st.
This dividend will amount te
approximately $40,000.00, and is
the largest dividend ever paid by
the Association. With the dividend
which was paid in July, this
makes a total of approximately
$75,000.00 paid to the 2,000 inves
tors in Athens and surrounding
territory for the year, The 1951
‘dividend, when added to past div
idends, mrakes a total of approxi
‘mately $845,000.00 which the As
sociation has paid to ihvestors
since its organization in 1929.
Mr. McWhorter also stated that
in addition to dividends paid, that
ample reserves have been set
aside, and that now the Axch—
tion is in the first 10 percent im
the United States with regard teo
reserves, for similar associations.
Through the use of funds in
vested by citizens of Athens and
the surrounding territory, this As-~
sociation has assisted in the fi
nancing and refinancing for con~
struction, purchase or improve
ment of more than 5,000 homes
within its field of operations.
Mr. McWhorter further stated
that 1951 was one of the best
years in the history of the Asso
ciation, and all indications peint
te the continued growth and pro
gress of the business for" 1962.
The officers and directors of the
Association are as follows: How
ard H, McWhorter, president and
director; H. A. Birchmore, exeou~
tive vice-president and direeton;
L. O. Price, vice- president amd
director; Roy W, Curtls,
treasurer and director; B. §.
assistant se¢retary-treas
director. Other: ¢ “.v
Jarnagin, J. K. %
Robert Hanna and W, :