Newspaper Page Text
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... The Summerville News, October 27, 1988
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Food Pantry Donation
Jackie Gardner, left, and Betty Wilhelm, right, of Post
129, American Legion Auxiliary, are shown presenting
a donation of food to Sue Elliott of the Chattooga Coun
tg Communitfi Action Council emergency food pantry.
(Staff Photo By Earl McConnell).
Digest Factoring
Definite--Hall
The 1988 Chattooga County tax digest will be factored
but it'll be next week before the amount of the factor is
known.
Hugh Don Hall, Chattooga tax commissioner, took the
digest to the State Revenue Department in Atlanta
Wednesday morning. After he returned to Summerville
that afternoon, he said the state told him that the digest
would definitely be factored this year.
However, the Revenue Department decided to send an
agent to Summerville today to conduct a brief field stud
before deciding on the amount of the factor, Hall adde(i
The percentage is expected to be announced by the state
early next week, Hall speculated.
The 1987 digest was factored by 7 percent and most
local tax officials had anticipated that the 1988 digest could
be factored by as much as 15 percent.
Caldwell Get AF Promotion
Michael H. Caldwell, son of
Hill and Louise Caldwell, Sum
merville Rte. 5, was recently
promoted to the rank of lieute
nant colonel in the U.S. Air
Force.
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Caldwell, a 1967 graduate
of Chattooga High School, is a
laboratory management con
sultant in Washington, D. C.,
with the Armed Forces In
stitute of Pathology.
Nunn Says Drug Bill Redirects Resources
By TOMMY TOLES
Editor
ATLANTA — While 75
percent of the current federal
effort is aimed at plquing the
supply end of the illicit drug
pipeline, a new drug bill ap
proved b Con?ess will direct
that hal{ its funding go for
education and health and the
rest to law enforcement, Sen.
Sam Nunn said here Friday.
Nunn outlined major
features of the bill to a group
of Georgia journalists during a
fovernmental affairs con
erence sponsored by the
Georgia Bress Assn. The
senator flew to Atlanta from
Washington, D.C., after a
marathon conference on the bill
between House and Senate
negotiators Thursday.
DRUG CZAR
The measure, which has
since passed both the House
and Senate, provides
$2.5-million in federal tax
money and establishes a
cabinet-level ‘‘drug czar” to
oversee the anti-drug effort.
The Georgia senator was
one of two senators who
negotiated with the House con
ferees over differences in the
House and Senate versions of
the bill.
About 10 percent of the na
tion's drug a(fdicts are current
ly being treated, Nunn said,
and the bill will increase that
percentage to 20 percent. He
noted that most crimes are
caused by addicts seeking
money for more drugs.
The ‘“drug czar’™ concept
was vetoed by President
Reagan several years ago,
Nunn continued, but the Ad
ministration now supports the
concept because there has been
too much competition and not
enough cooperation in the drug
fight between federal agencies.
Tfie “czar” will be in charge of
the anti-drug health and e(fuca
tion, and law enforcement
programs.
CAPITAL CRIMES
That the bill contains a pro
vision calling for capital
punishment for certain grug
related crimes is ‘‘a strong
statement by Congress”’ that it
is serious about stoppin% drug
trafficking and use 1n the na
tion, Senator Nunn said. He
acknowledged that the provi
sion was a ‘‘very controversial”’
partefthebdl = = .
Most of the federal effort
has thus far been aimed toward
enforcement of drug laws and
treatment, Nunn continued.
The new bill, which he said “'is
far from perfect,” also provides
penalties against drug users.
“We have to do something
about users.”
On some levels, the bill pro-
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Senator Speaks To Georgia Journalists
vides for civil penalites of up to
SIO,OOO, although defendants
will retain some criminal court
type rights in civil court.
Second, Nunn said, the bill
provides that federal benefits
may be denied to convicted
users or distributors of drugs.
It “*sounds easy"’ to accomplish
that end, Nunn said, but in
realitf' the process is ‘‘enor
mously complicated.” Resear
chers stopped when they had
provided Fhe House and &nate
with 6,000 different federal
benefit programs, he said.
IMPRACTICAL
It would have been imprac
tical enumerant all the pro
grams in the bill itself, N}l)mn
said, because most federal
forms would have had to be
changed within six months so
that questions about drug use
or convictions could be agded.
That process would have cost
more fhan the $2.5-billion pro
gram itself, Nunn said. @~
A “‘more sensible solution”
reached by House and Senate
conferees allows state and
federal judfes to choose from
a listing of federal benefits and
determine which ones should
be ended. A constitutional pro
blem may develop, he adged.
because of the provision that
allows state jucfges to cut off
federal benefits.
““There is no easy answer tp
the drug problem,” Senator
Nunn toltf the journalists.
Every community and
organization in the nation must
become involved in the fight
against drugs, he said, in
cluding businesses, Chambers
of Commerce, P-TAs, health
providers and schools. “We're
going to have to have a com
munity by community effort.”
“PLAGUE”
Drugs are a “‘plague’ in the
Uni';edg States, pthe senator
said, and few peogle unders
tand the extent of the problem.
The United States is cur
rently growing about 30 per
cent of the marijuana consum
ed in this country, he said. Ex
perts he has heard estimate
that if U. S. borders were seal
ed, domestic drug peddlers
would be producing synthetic
cocaine within three months to
replace all the cocaine that had
been imported into this
country.
The past 100th Congress
was ‘‘the most productive since
the mid-19605,”” the senator
continued. He praised Sen.
Robert Byrd, Senate majority
leader, and Sen. Robert Dole,
minority leader, as well as
House Speaker James Wright,
Reg. Thomas Foley, and Rep.
Robert Michael, House minori
ty leader, for their efforts.
BILLS PASSED
The 100th Congress passed
a Clean Water Act, highway
bill, the so-called ““Civil Rights
Restoration Act,”” and a
catastrophic health care bill, A
welfare reform bill that “‘moves
in the ri%\ht direction” was also
passed, he said. The measure
provides a “bridge" between
total dependence on welfare to
Lobs without cutting off all
enefits as soon as a job is
obtained.
A trade bill enacted by Con
gress will give the next presi
ent more power to deal with
trade deficits, Nunn said, and
the bill also includes a plant
closing measure that had
earlier been vetoed as a
separate bill. The ‘‘runaway
parents’’ bill was also
strengthened to help ensure
that parents support their
children, he addecf
A U. S.-Canadian free trade
bill was approved by Congress
but its future implementation
will depend sig'niffiantly on up
coming Canadian elections,
Nunn said.
APPROPRIATIONS
Congress alsc:lf)assed all 13
agpropriations bills separately,
the first time that has been ac
complished in ‘“‘many, man
years,” Senator Nunn sai({
One reason for the efficiency
was the stock market crash in
October, 1987, he said
candidly.
“I would not rule out a
value added tax (VAT) but it
will more likely be some type of
energy tax...'' Nunn said
regarding efforts during the
next Congress to balance the
budget. ’firle senator said he
wou%dn’t personally consider
any type of tax unless Con
gress makes progress in reduc
ing expenses.
The countx('iy will run into a
“severe’”’ Medicare financing
problem during the next five
years, Nunn said in response to
another question. Although he
admitted that he doesn’t have
an answer to the dilemma, the
LEGAL TITLE OF BANK STATE BANK NO
QD 1B
Farmers & Merchants Bank T e R
CITY COUNTY STATE ZIP CODE CLOSE OF BUSINESS DATE
Summerville ’ Chattoo;a ' Geor;ia September 30, 1988
Doltar Amounts in Thousands mm
ASSETS % %%
1. Cash and balances due from depository institutions %///, %
a. Noninterest - bearing balances and currency and coin - 1a
b. Interest - bearing balances -nm 1b
2. Securities : ey - -mm 2
3. Federal funds sold and securities purchased under agreements 1o resell in domestic offices of the bank ;//////%7/////4
and of its Edge and Agreement subsidiaries, and in IBFs: //%%7////,,
a. Federal funds sold ) : - @Ja
b. Securities purchased under agreements to resell % %3b
4 Loans and lease financing receivables ’ 47% %
a. Loans and leases, net of unearned income -m%%%% 4a
b. LESS: Allowance for loan and lease losses -- 7////,%7////// 4b
c. LESS: Allocated transfer risk reserve . . . / -m_%%% ac
d. Loans and leases, net of unearned income, 2 %%%
allowance, and reserve (item 4.2 minus 4.b and 4.c) ; = 4d
5. Assets held in trading accounts CEEE B : ; mm 5
6. Premises and fixed assets (including capitalized leases) Lo i --m 6
7. Other real estate owned . . o ; -fim 7
8. Investments in unconsolidated subsidiaries and associated comparies - NO fl 8
9. Customers’ liability to this bank on acceptances outstanding . : ; -m 9 :
10. Intangible assets : P =mm i
Ihiheeiagsaig i o L e 88 11
12. a. Total assets (sum of items 1 through 11) - 12. a.
b. Loans deferred pursuant to 12 U.S.C. 1823 () 'Nake li2o.
c. Total assets and losses deferred pursuant to 12 U.S.C. 1823()) (sum of items 12. a and 12b) - - - 88| 88H12.c.
LIABILITIES %%%
13. Deposits: //// %%/A
a. In domestic offices . ; -m 13. a.
(1) Noninteresting - bearing . . . . . . . . |lO VOP, 1- )
(2) Interest - bearing . : 28 : -%%% 13.a(2)
b. In foreign offices, Edge and Agreement subsidiaries, and lIBFs - 13. b
(1) Noninterest - bearing : ; | Ndne PPAAAAA 15 (1)
(2) Interest - bearing y ; ‘ -mm%%% 13.b.(2)
14. Federal funds purchased and securities sold under agreement to repurchase in domestic offices of the %%%
bank and of its Edge and Agreement subsidiaries, and in IBFs: %7/////1///////,
a. Federal funds purchased . -m 14. a.
b. Securities sold under agreements to repurchase . =mg 14. b.
15. Demand notes issued to the U.S Treasury . / m. O 15
16. Other borrowed money i i i -mm 16
17. Mortgage indebtedness and obligations under capitalized leases : -mm 17
18. Bank’s liability on acceptances executed and outstanding . g SR s \ fl 18.
19. Notes and debentures subordinated to deposits .. . . . e : -mm 19,
20. Other liabilities .. . : v i : . o --mg 20.
2t. Total liabilities (sum of items 13 through 20) . £ : ; -mm 21
22. Limited - life preferred stock , -m.fl 29
EQUITY CAPITAL 272
23. Perpetual preferred stock (No. of shares outstanding None ) -mm 23
24. Common stock (No. of shares a. Authorized %%%
b. Outstanding ) -m 24
25 Slrpliss s v le o S e -mm 25
26. Undivided profits and capital reserves Ng 26
27. Cumulative foreign currency translation adjustments %A%%
28. a. Total equity capital (sum of items 23 through 27) ' -mm 28. a
b. Losses deferred pursuant to 12 U.S.C. 1823 () -m 28 b,
c. Total equity capital and losses deferred pursuant to 12 U.S.C. 1823(j) (sum of items 28. a and 28 b) -mm 28. c.
29. Total liabilities, limited - life preferred stock, equity capital, and losses deferred pursuant to %%%
12 U.S.C. 1823(j) (sum of ilem_§_2~l‘.‘2_2_._a_rld»2—B.c) T ; -l"fll‘L‘E 29.
MEMORANDA: Amounts outstanding as of Report Date 7//////,%% MEMO
I.a Standby letters of credit, Tolal . : . : : : _ --fi i
I.b Amount of Standby letters of credit in memo I.a conveyed to others through participations . -m 1b
NOTE: This report must be signed by an authonzed olhcgr(s) and attested by not less thfl‘lhree dnw‘(fie: than the officer(s) signing the report.
I/We, the undersigned officer(s), do hereby declare that this Report of Condition has been prepared in conformance wum
is true to the best of my (our) knowledge and belief
GNATURE OF @FFIGER(S) JTHORIZED TO SIGN REPORT DérgcsgNEo
ctooer 24, 1988
NAME QYD TITLE OF OFFICER(S) AUTHQRIZED TO SIGN REPORT AREA CODE/PHONE NO.
Elizabeth R. Lively, Comptroller G 404-857-3431
We lhe undersigned directors. altest the correctness of this Report of Condition and declare that it fi;s L;ee_n Exa“rmfiédm}}m
beskoh our kgowledge and belief has been prepared in conformance with official instructions and is true and correct
SNN Tl eo2l I 5 7
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Q..-' \\o TA&A_'- - ".flale of ....Georgia County of Chattooga , o
g:' é%f MARK " 2 Sworn to and subscribed before me this ......25th . dayof . October 1988
§ O:' 1 RGMsE :fgmd I hereby certify that |am not an officer or director of this bank ) % 5
E.".. p”bL \ ¢ .-'~ c:My commission expires ... June. 27.... 19 92 .
‘-,'..1)‘.,.." ; ....~'s:~“: Signature Notary Pubfic
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senator said there must be less
institutional care with more
elderly citizens remaining at
home.
The senator also noted that
many hospitals are closing
throughout the nation.
Finding a solution to the
Medicare %inancing crisis will
be ‘‘a major challenge,” Nunn
said, and expenses must be cut
and new revenues found for the
program.
NUCLEAR WASTE
Nuclear waste disposal will
be a ‘“‘mammoth problem” for
the next Congress and ad
ministration, he said. The coun
try now has an estimated
SIOO-billion backlog of nuclear
waste that will have to be
cleaned up during the next 10
to 12 years, he asserted.
Another major problem
that must be dealt with next
year is the savings and loan
situation. In the final analysis,
Nunn said, the nation’'s tax
aners will be called on to help
ail out insolvent institutions.
The total cost has been
estimated at SIOO-billion, the
senator continued.
“The next president of the
United States will have his
hands full,”’ he said.
DUKAKIS
As he was leaving the
fiodium, Nunn joked that he
ad hoped to give a campaign
sEeech for Michael Dukakis,
the Democratic nominee for
%resident. Nunn, Sen. Wyche
owler, former President Jim
my Carter, Gov. Joe Frank
Harris and other top state
Democratic leaders appeared
at a Hawkinsville rally Satur
day to promote Dukakis’
candidacy.
The governmental affairs
conference also included a
panel discussion on the open
meetings and open records
laws by Mike Bowers, Georgia
attorney general; Sens. Roy
Barnes and Harrill Dawkins
and Reps. Denmark Groover
and Charles Thomas.
OPENNESS
David Hudson, attorney for
the GPA and The News, posed
?uestions to the panel resulting
rom situations that have
arisen throughout the state
over the open meetings and
open recor(f;elaws. Although a
number of different aspects of
the laws was discussed, the
consensus of the group was
that Eurpose of revising the
laws this year was to provide
more :Fenness and “‘sunshine”
in local government and agen
cies than in the past.
It is unlikely that the laws
will be modifie! further during
the 1989 session of the Georgia
General Assembly, they In
dicated. Although the legisla
tion may have some defects,
they said the legislature wants
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to see how the laws work for a
couple or three years and to
review an{l court decisions
made on the openness issue
during that time.
NOT “PERFECT”
The laws aren't viewed as
“perfect”” by either the news
media or J;overnmental of
ficials and attorneys, the
solons said, because of the
natural adversarial relation
ship between government and
the news media.
Another panel discussed
the future of Georgia's finan
cial resources. The group in
cluded Sen. Pierre Howard,
Rep. Johnny Isakson, Rep.
Lauren ‘‘Bubba” McDonafii
and Clark T. Stevens, director
of the Office of Planning and
Budget.
Dr. Henry W. Thomassen,
economic advisor to Gov. Joe
Frank Harris, was the lun
cheon speaker.