UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.____________)
Century Bancorp, Inc.
(Name of Issuer)
Common
(Title of Class of Securities)
156433104
(Cusip Number)
Check the following box if a fee is being paid with this statement ___. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with the respect to the subject of class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 4
<PAGE>
CUSIP NO. 156433104 13G Page 2 of 4
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Salem Investment Counselors, Inc.
56-1225913
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2 Check the Appropriate Box if a Member of a Group
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3 SEC Use Only
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4 Citizenship or Place of Organization
North Carolina
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5 Sole Voting Power
42,840
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6 Shared Voting Power
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7 Sole Dispositive Power
42,840
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8 Shared Dispositive Power
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9 Aggregate Amount Beneficially Owned By Each Reporting Person
42,840
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10 Check Box if the Aggregate Amount is Row (9) Excludes Certain Shares
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11 Percent of Class Represented by Amount in Row 9
3.41 %
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12 Type of Reporting Person
IA
<PAGE>
Page 3 of 4 SCHEDULE 13G
Item 1 (a) Name of Issuer:
Century Bancorp, Inc.
Item 1 (b) Address of Issuer's Principal Executive Offices:
22 Winston Street, P.O. Box 989
Thomasville, NC 27360
Item 2 (a) Name of Person Filing:
Salem Investment Counselors, Inc.
Item 2 (b) Address of Principal Business Office:
P.O. Box 25427
Winston-Salem, North Carolina 27114-5427
Item 2 (c) Citizenship:
North Carolina Corporation
Item 2 (d) Title of Class of Securities:
Common Stock
Item 2 (e) Cusip Number:
156433104
Item 3 (e) [ x ] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940.
Item 4 Ownership:
(a) Amount beneficially owned: 42,840
(b) Percent of Class: 3.41%
(c) Number of Shares as to which such person has
(i) Sole power to vote or to direct the vote: 42,840
(ii) Shared power to vote or direct the vote: -0-
(iii)Sole power to dispose or direct the disposition: 42,840
(iv) Shared power to dispose or direct the disposition: -0-
Item 5 [ x ] Ownership of Five Percent or Less of a Class
Item 6 N/A
Item 7 N/A
Item 8 N/A
Item 9 N/A
<PAGE>
SCHEDULE 13G Page 4 of 4
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Item 10: Certification:
By signing below I certify that to the best of my knowledge
and belief, the securities referred to above were acquired in
the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
3/25/99
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Date
/s/ David B. Rea
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Signature
David B. Rea, President
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Name/Title
