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THU CARROLL FREE PRESS. CARROLLTON. CARROLL COUNTY, GEORGIA
THURSDAY. DECEMBER 2S, 1922
AGRICULTURAL PROSPECTS
FOR THE YEAR
1923
jiffw Yoar's Statement and Resume of
Agricultural Conditions and Pros
pects from Secretary of Agri
culture Wallace.
Twelve) months ago most of the sic
million farmers of the United Htatc*i
were starting on the long hard climh
out of the valley of economic, depres
sion. They have not yet attained the
heights which arc bathed in the grate
ful sunshiue of prosperity. Home in
deed, have fullen by the way. Others
are still in the valley. Nevertheless,
aa we stop a hit and look backward wo
can see that very considronble ground
has boon gained by the great majority,
and wo can enter the New Year with
renewed hope and with that courage,
el ich comes from the realization that
we are really making progress.
A year ago, when speaking of the
prospects for farming in 1922, 1 said
that while there was no reason to ox-
poet boom times for the farmer in the
i ear future, there was promise of bet
ler times, both for the farmer and for
those whose business is largely depend-,
ent upon him. The year has brought
fulfillment of that promise. Speaking
generally, times are better, much but
ter, than a year ago, both for agricul
ture and for industry.
Crops have been good, on the whole.
I’rieos of the mnjor crops are mostly
considerably higher. While there hns
been a corresponding advance in the
prices of tho things the farmer must
buy, the total sum which farmers will
receive for tho crops of this year is
greater by a billion and a half dollars
or more thou that which they received
for the crops of last year. This will
certainly monn better times on the
farm, and farm folks will be able to
oaso up a little on the grinding economy
they were forced to practice tho pre
coding year.
The labor cost of producing the crops
of 1922 was still .further reduced. There
were some substantial reductions in
fjeight rutes. Much helpful legislation
has been enacted and more will bo this
winter. Interest rates are lower and
the credit strain has benu eased. This
hns made it possible for many, farmers
who wore rather heavily involved • to
refund their obligations and get them
selves in condition to win through.
There are still some dark spots. In
some sections weather condiions wore
unfavorable and crops were short, and
farmers in those sections are having a
very hard tirno of it. Freight rates are
FIRESTONE TIRE AND RUB
BER COMPANY MAKES FINE
SHOWING FOR THE YEAR.
Sales $6-1,607,301 in Twelve Months—
Hoad of Concern Says Government
Should Encourago American Cap
ital to Develop Rubber Plan
tations In Philippines.
With the lowest prices experienced in
the history of tire making, and in the
face of keenest competition, the Fire
stone Tire and Rubber Company’s sales
for the fiscal yenr, ending October 31,
were $61,607,301.77, representing an in
crease of 23 per cent in pieces sold over
tile previous your, according to a state
ment made the other day to stockhold
ers, at their annual meeting in Akron,
0., by Harvey H. Firestone, president of
:he company,
The company’s earnings, aftor provid
ing for depreciation, interest, taxes and
other charges, were $7,318,421.59. Aft
er payment of preferred dividends and
miscellaneous charges thcro was shown
n net increase of $16 per share in the
common stock equity.
The company’s bank indebtedness was
reduced from $21,680,000 at tho begin
ring of tiie fiscal year to $12,775,000
lit its close, moaning a reduction of
nearly $9,000,000.
During tho year the Firestone Canadi
an Company financed itself through the
sale of a $1,500,000 7 per cent bond is
sue, according lo Firestone, tho parent
company owning the entire outstanding
preferred und common stock. Tho On-
undian plant has a present capacity oil
1,600 tires doily, and is so planned that
additional production nan readily be
procured when required.
Mr. Firestone expressed optimism re
garding the outlook for the coming
yenr.
“Wo enter the now year,” ho said,
“with our factories running at undi-
n inished production, operating at the
highest point of efficiency yet attained
and producing the best quality tiro in
our history. Sales and distribution
methods have been simplified, resulting
in marked dccrcusc in cost; our, dealer
organization enlarged and stfengthen
cii. Inventories have lx*n very con
servatively valued, ad our commitments
for raw material are on a most favora
ble basis.
“Howovcr,’’ snid Mr. Firestone, “un
less the action taken by England and
certain colonial governments rolativc to
still too high, especially for those who# 1 production and exportation of crude
"must pay for a Tong haul to' market/
Taxes arc high, but this is largely duo
to tho increase in local taxes, over
which farmers themselves must exer
cise control.
Thoro has been gratifying growth in
farmers’ co-operative marketing asso
ciations, and more of them are being
organized on n sound business basis.
Aside from the help which has beon
riven by legislation and by administra
tion activities, strong economic forces
are at work to restore a more normal
relation between agriculture and other
industries.
Tho peril in the agricultural depros-
lion is more keenly realized by other
groups than eVer before, and on every
hand a sincere desire is being evidenced
lo do what can bo done safely to help
the farmer better his condition.
Everything considered, we have good
reason to expect still better tilings for
agriculture in the year 1923.
FARMERS’ INSTITUTES.
To get the full benefit of the money
being spent by sute and federal gov
ernments for popularizing scientific ag
riculture, tho fnrmers ought to make
every effort to attend the farmers’ in
stitutes.
It costs just as much to hold such
a meeting with 25 present as if 250
turn out. If 225 who could be present
decide to stay away, tho whole district
may suffer as the result of failure to
learn about more productive methods.
One state, Indiana, has 500 of these
institutes this winter. That common
wealth is no exception, and probably
a lot nf others have as many relative
to populaion. That shows what the
nublie authorities are doing to help
improve production, and now the farm
ers should do their share by attending
tnese useful gatherings.
One of the best features of these
institutes is the practical exchange of
experience that so frequently follows
the addresses given by experts. It in
interesting to see how carefully the
rpeeialists listen to these individual ex
periences. They, too, are learning ail
the time as well as their listeners.
The foolish man learns by his own
experience ,tho wise man by others.
Romo people fbllow just the sum.
methods year after, year, and thev
are likely to remain stationary or fa!)
behind. Th e man with a scientific mind
wants lo know about he methods that
.-(her people aro using, and which
method has produced the best results.
Jio may got useful ideas in a single
rubber is rescinded or modified in a
drastic, manner, the effects of this un
called for legislation will bo far-reach
ing. Tlu* limiting of production and
exportation already has caused an in
crease of 100 per cent in tho eost of
thi) crude product sineo announcement
of tho now program was made in Octo-
bor.
“This present advance represents an
increased cost to tho United States
of over $100,000,000 on its estimated
consumption for 1923. This must bo
passed on to the tire user.
“This Is the time for tho United
•States lo pass such legisnlinn as will
encourage American capital to de
velop rubber plantations in the Philip
pine Island.s, where the soil and climatic
conditions are equal to any in tho rubber
producing belt, and negotiate with
.South American republics to develop
production in their rubber regions.
•Rubber is growing each year to be
more important to the economies of
commerce and raiisportation, and great
opportunities are before us to make tho
Philippines one of our most valuable
possessions anil have a secure supply of
this very important product.’’
The Firestone Company’s assets, ac
cording to the statement given out.
include: Cash, $5,715,159.38; receiv
ables, $9,852J762.72; inventories, $9,-
890,050.17; Coventry Lund and Im-
ment Company, $3,013,708.80; other ac
counts, $5,820,215.13; investments, $4,-
651,265 treasury stock, $171,028.78; real
istuto, plautR, etc., $21,174,300.17; de
ferred charges, $426,793.70, making a
total of $00,718,631.45.
Liabilities aro listed as follows:
Notes and acceptances payable, $12,-
775,000; accounts payable (purchases,
pay rolls, etc.), $2,539,533.99; accrued
accounts, $320,066.22; reserve, $300,000;
capital stock, $9,500,000 in preferred 6
per cent cumulative, this representing
100,000 shares authorized ($10,000,000)
less $500,000 retired; 400,000 shares of
7 per cent cumulative ($40,000,000) less
$30,000,000 unissued, leaving a balance
of $10,000,000; common stock, $3,558,-
000, representing 3,500,000 shares au
thorized $(25^0010,000),, less unissued
and in treasury ($21,412,000); general
surplus, $20,595,595.99, and insurance
account surplus, $1,130,438.25.
1!' the young folks at college aro get
ting tho right education thoy should
have learned that their home town is '
just as good a place to start in as
i.iiywhere, provided they work with
enterprise and intelligence.
The
Georgia State Bank
sf
ATLANTA, GEORGIA
Takes pleasure in announcing that it has opened an office in
BOWDON, GEORGIA
This new office of The Georgia State Bank is located in the
building formerly occupied by The Merchants and Planters Bank
In arranging for the addition of
this new office to its organization,
The Georgia State Bank has pur
chased the assets and assumed the de
posits of The Merchants and Planters
Bank. This arrangement has been
made upon a basis which assures to
all depositors of the old bank full pay
ment of their accounts at one hun
dred cents upon the dollar, and to the
stockholders all which can possibly
be secured to them after providing
for the liabilities.
In other words, The Georgia State
Bank has assumed this business upon
a basis by which it hopes to enlarge
the scope of service to .include every
individual of this community and
looking only to the business prosperi
ty of the future for profit.
Every depositor in The Merchants
and Planters Bank will find that his
interests and financial affairs are
perfectly secure' and satisfactorily
handled by the new bank. Letters
have already been mailed to each
asking that he visit the bank, to leave
his sample signature and meet the
new officers and customers.*
The Georgia State Bank is an insti
tution designed to serve the interests
of every type of Georgia business
man, farmer and industrial enter
prise. Its offices are located in many
cities and towns, which enables it to
better serve its clients.
With a central office in Atlanta,
and with its individual offices thus
scattered, it is enabled to mobilize the
financial resources and credits of an
ever-widening area of the state, in
exactly the same manner, but upon a
wider, and therefore more effective
scale, than the bank which maintains
but one office in one community, mo
bilizes the money and credit of that
community for the greatest service.
* -it * 44 4t
The men who direct the policies of
this organization are men who have
long been trained in understanding
the financial needs of the various in
dustries which go to make up the
prosperity of our state. They know
the financial needs of the cotton
planter, of-the fruit grower, of the
diversified agriculturist, of the
manufacturer and of tiie business
man. With an organization drawing
its resources from-many communities
such as this, and at the same time in
closest personal touch with local con
ditions, it is possible not only to
thoroughly understand and cooper
ate with the individual need, but to
adequately provide for the seasonal,
needs of the community.
The Georgia State Bank is capital
ized at $500,000. Its foundations are
based upon such super-security as
has been learned during times of
financial stress and trial. It is, for
Georgia, something new in banking
nolicy, but it is a policy which has
been successfully operated in other
sections, without loss and without
failure, for many years.
In opening the Bowdon office, the
officers of The Georgia State Bank
confidently ask your business. They
will at all times be glad to welcome,
you at the bank, and will always ex
tend that service and cooperation so
essential to the steady growth of each
individual enterprise and of the com
munity as a whole,
*The Georgia State Bank is also pleased to announce that the deposits,
of The Merchants and Planters Bank, which at the re-opening of the bank
last summer, were put on time certificates for one, two and three years,
will be released on February 1st, 1923, and on that date, upon the surrender*
of such time certificates and liquidating agents certificates, properly en
dorsed, will become at once available to all such depositors, and the people
holding these certificates will not have to wait one, two and three years
for their money to become available.
The Georgia State Bank
J. G. Smith, Cashier, Bowdon, Ga.
W. D. Manley, Pres.
L. R. Adams, Vice-Pres. John D. Russell, Gen y l. Cashier
ATLANTA, GEORGIA
Offices now heated at Baxley, Bronwood, Cordele, Cummins, Douglas, Dcuglasville, Chatsworth,
Dublin, HfivkinsviUe, Hogansville, Ocilla, Omega, Richland, .Montezuma, and Bowdon, Ga.
“A Big Bank with the Personal Characteristics of Home Folks for Your Town"