ADVERTISEMENT
Edited by
JACOB DOBRIN
VOLUME XVII
V u 1 . H
' ' . - - ' I - ' 1 '.' '
SCHOOL SAVINGS IS
GROWING ANNUALLY;
TEACH REAL THRIFT
Through Co-operation of
Loan Associations All
Possible for Schools
son-
-Millions Put
A habit is something Unit wi
do easily ami automatically, such
hh talk! iik1 i rutin? op walking.
Heading, writing and arithmetic
ii ri , complex liahitH that we nc
tiulrefj by gradual stages during
our progress through school. Wi
dow do all these thliius easily and
i automatically and so consider
them habits, ir ihiit't 1h to bo
thoroughly effeejivc, we must ac-
1 1 j i i -it as u habit thai operates
us nut ura My as our othi-r habits.
Habits of all kinds up' moat
easily ucipiircd d urine: cliildhood.
$i)dreii ran lie taught good hab
its almost as readily hh bad ones.
and whichever they art- taught
during the I in prcndoiinble years,
are nit lo stay with them through
life, Therefore, if we are to have
t hrifty com mutinies. Hint en and
, jmilons, we elm beat ; at tain "Hio
f goal by (ruining children in I ho
habit r thrift.
No place. In my opinion Is a
better place for the teaching of
I hiiri than our public schools.
Children go lo school for the def
inite purpose of leurnlng and of
acquiring 'good hablis. While at
school, their minds are, more re
ceptive than while- at . home or
elsewhere. They will learn thrift
from their teachers, just- its read
ily as they will learn reading and
wrillng. once (hey have neoilred
the habit, most of them will prac
tice II Ihrongh life, with great ad
vantage lo themselves, their fam
ilies and their communities.
l-'ortunab'ly. educators In all
parts of the I'nlled States have
conic tn a realization of the fact
that thrift the careful manage
ment and use of money, time und
materials Is of such vih.i Impor
1 a nre to tin- welfare and happi
ness of the nation, that Uio train
ing of young children in liabtl of
lli riit Is a duty that pubhs
schools Khoiih' not shirk. Of late
years our schools have been railed
upon lo U'l.l so many different
kinds of t'Minlti'? to the eurrleul
7 inn, thai t hey are fast reaching
the saturation point. In the face.
Savings Fund With
Attention, I'arcnis:
This pertains to your baby, your
girl, your boy
How helpless, how entirely dc- j
pendent.
It's Daddy this or Mother that, I
from morning till night and when
llio toys are lying around and the;
boy and girl are tucked in bed fast ;
asleep, you und mother look at the ;
sleeping bits of mortal and wonder
what the world holds In stole for
them.
And so great events take place j
from I line to time In the child's
life bir thdays and parties, and ex
aminations in schools, and promo- :
lions, etc. They are all great events
In the child's lite and you are In
volved In tlieni as u principal fig- '.
nre.
It limy be difficult for you to
visualize this little mite as 11 grown- 1
up. but time Hies uulckly and only ;
ton soon will you iimr tlte wordy:
"ItaiMy, do I gel lo no to col
lewv?" Think what joy you will experi
ence in being nble to say:
"Yes, my eh (Id, I have made
Jacob loIn hi, li 'Jrunde, Oregon
I
Hear Sir: Without subjecting me to a xelue of solicitations, and without ohlig.ilbni to me. phase fur
nish me with information regard your NKST I'Mii liAXK und advise me the annual deposit necessary
to mature a Thousand Hollar l'n duw nteiii I 'und. Age of child f years) (months)
!'' 1 Your.; very tuly ,
Name ,.
Address 1 .,
Banks and Building and
Over the Nation It Is"
to Learn Great Les- '
Away Each Year.
of this, it is Indeed encouraging to
nole the -growing willingness oi.
the part of teachers to .Include
thr.f an u regular part of llielr
educational program.
Through ti.t co-operation of
hanks and Huilding and Loan hh.
social Ions all over Die nation, tt
has become possible for schools to
teach thrift In the only effective
way through actual practice,
rather than through abstract the
ory and Hre memorising of thrift
slogans. Most schools now observe
weekly "bank day' or "school
thrift day." at which time puhlls
are encouraged to deposit some
part of their earnings, or allow
ances in savings accounts of their
own. They are urged by their
teachers to forego the frivolous
cxpendllure of small sums for
sweets- or .1linci'iiclis( in order lo
accumulate enough to purchase
Inter something a great deal morn
worth while.
It If felt thut in teaching thrift
to children, it in vitally important
lo emphasize saving for a defin
ite purpose and even to encour
age withdrawal of a part of the
money for a sensible purchase,
rather than to teach merely the
hoarding of money. After all.
thrift consists in spending money
wisely rather tJian unwisely, for
Important rather t han for unim
portant things, for durable rat her
than for transient things. It does
not consist In hoarding. It con
sists In spending money and
spending freely, but in spending It
for things which add to perman
ent prosperity rather than for
things which merely gratify use
less appetites, whims, pride or
vanity, and leave one no strong
er physically, mentally, morally or
economically.
Although I he cost of carrying
on school savings systems la
out of all proportion 1o
t be monetary return, banks and
Hii lid i tig und Loan associations
appreciate the opportunity to to-
(Continued on Pago 4)
added Feature of Insurance
Offered by Building and Loan For Your Baby
provision for your eolh-ge educa
tion through in- endowment in the i
Cuardlan Building and JvOun As-j
sedation. t i
And '20 years from now you will :
celebrate another birthday, an -1
other happy event If you make It j
so; if you luve looked ahead wis- i
ly and with loving kindness mndei
preparation for your child. Think !
wli.it Joy you would Have in mo-!
Hiring an endowment fund lor your
child on that birthday, -n years
from now. 1
Think what it 'would mean for I
the child's future; the completion 1
of an education; a start in busl-m-ss;
a milestone on the road to
success. i
You re;i llatp that presents a nd
toys received by "baby" are soon '
lost and forgotten, but an Kudow
nient Kund grows more ;:nd more
vahmble each ?eUr.
YVe offer a Savings liiiid with
the Added l-VutHre of Insurance.
W'e will gh'dly give this rigure
ami also furnish you information
regaiding the Nest Kkk. Hank
which, by the way, will bit our ,
Ha (Sntnite lEtmttttg (twmr
BILL SAYS
(HIM.)
V. K. AtiMlW
Sales Manager. Portland
j .Success is a journey, not u des
Mnatlon. ! Nothing In progression can rest
j on its original plan. We might
ins well think of rocking n grown
jninn in tin cradle of an Infant.
' Kdtnund Hurke.
! "A young man cannot honestly
! make a success in any business
unless he loves his work, any
'more than a married man can be
J happy in bis home unless he loves
; Ills wife." lid ward Liuk.
! Your ship may i be coming In,
Unit it never, hurts to row and
meet It. ' "
Teacher: "Isuae, givn me a sen
lence containing the word r 'cav
crt" Isaac: ",Kery morning IIih
milkman leaves us a cavort of
milk."
Hald-headed man: "Yotl tay this
Is a good hair tonic!"
. Knrbcr: "Very fine; we have n
customer who look the cork out
of the bottle w.ith his teeth ami
the next ' day he had a mous
tache," Seen In a Itoston paper: "Heath
was due to natural causes. Mrs.
It lank had for some time been
under a doctor's care."
Kmployer: "Now that 1 have de
cided to give you the Job, I must
It'll you that early hours are the
rule in this store."
New "leek : rtTha1 's good. You
can't close too early for me."
".I ones!" siid the schoolmaster
sternly. "Von have been caught
In tlie act of flairrant disobedience.
Your example to others is most
(Continued on Page 4)
present to baby.
JJon't delay, your baby deserves
an education;' your baby deserves
to benefl by your experience. It
is easier to educate your child by
starting to save for it now than to
have to raiso several thousand dol
lars at once.
Why can't your baby be the doc
tor, th lawyer, the senator, the
Judge, the prouthnncnl man or wo
man talked about In this great
I 'n bed Slates the great, success
ful farmer, the rancher, the. mer
eha nt ?
Isn't your baby deserving to bo
placed in position, through educa
tion, lo be. inflm nihil, prosperous
n ml a slil ui ng example of a big
American'.'
Your baby has little chance, f
uny. without an education and the
only way to educate him or her in
by h spccl.tl fund provided und
kept up.
YVe want Your ltnby lo havt n
Ka vines Endowment In
(M AItlHAN Ifl'IMJfNd AM
I, (JAN ASSOCIATION.
LA GRANDE, OREGON, WEDNESDAY, OCTOBER 30, 1929
An Income of $100 A
The Result
lU'celvIng $ HiO a month for a
I ft Olio investment scorns impossi
ble. Hut It does not lake -4 per
cent to mako it only 0 per cent
und a little patience.
Just as a sporting proposition,
u young man can bet himself t hut
ho will not be obliged to do with
out a new automobile simply be
cause ho reachcM the "dead lino"
of production at Gd. And llio
sooner ho makes the bet, the less
It. will cost.
Today's young man can lake
care of himself thumghou, his life
If he wants to, Instead of 4ciug
obtlged to live with relatives or
friends after liii. This Ik proved
by recent changes which have
taken place- in American economic
life.
There are endless good oppor
tunities to post your bet and buy
a real Income with the money you
pffBt.
I'or example, there is the local
building and I'wn association in
your town. They buy, mortgages
right along, and if you place your
bets with them every month, you
will own a little part In ull the
mortgages which they own. And
sincn they only deal directly with
the home owners who are rospon
Mibln for thr repayment' W the
mortgages, they Know their, people
and you are assured I hat your bet
will be safe.
A gentleman told me (he oilier
day that he would liho to save, but
did not know how.
This friend has never earned
over $175 a month, and most of
the time very much le.s. Also he
never saved mom than n montlt
nl liny time and yet, since he has
reached f! years of sue bis m'
lags bring him an Income of $lo0
a monlli. It sound'-d like a laity
lull'. Ho we drew up a table tn
Hhow II was done Altogether he
The Duty Of The
Business Man
Huslness is' business because II
can't be anything else. The ideal
business man is like a Judge. 1 Its
company is an entity, apart from
hltnseir. If he Is an honest busi
ness man he will, in an emer
gency, cut Ills own salary as ruth
lessly as the wage of the hum
bles! laborer. When he makes a
mistake and offends a customer
he will settle accounts with a
check book and not will) an ex
cuse. He will deal fairly and
Justly with all, and always be
guided by his reason and not by
his feeiinirs. You will find him
on the board of directors of one
of t lie I (u i Id lug ami Loan ns:to
clatlons. This kind of buMness succeeds
because it deserves lo succeed,
BANKER LAUDS .
BUILDING, LOAN
ASSOCIATION
"The, growing popularity or tie
; I lii i Ming and Loan association is
jlhe. greatest rainbow of promise
j on the hori.on of an undeniably
I extravagant period of Am "flea n
I lire," says M r. John K. Owens,
vice president of the Republic Na
tional bank. I a lias, Texas, in a n
address delivered bet ore 1 be Tex
in Itankeis' convention in fialves
ton. Mr. Owens expressed impatience
w it f i the bank t hat has a vague
distrust of Hie UntblttiK ami lmn
association b cai'se it lias drav-n
certain small deposits from Hie
bank's savings uceo.iut, and point
ed out the fact "'aat the Itiilldlng
Mid Loan asMjeiatloii creates a
ttror'perlty In w hl h Hie ha liking
r nil i' ru lly pre-eminently pa 1 1 lei
pat os.
I 'rot Ira st l ng lh- a mort i.a t inn
principle of debt pain;r with tie
old principle of one large note.
M r. ( (wi ns show f d that to com
mence, immediately on the crea
tion of a debt, to extinguish it by
a certain sum II ; l-iii payne o!
I hat be tfin.i to di .!. e principal
and Interest at Hie same time in
He- great triuinpt of t U lid' d
credit.
I '0ll rSely, t e OIO--IlOle tel
results in a I end em y to pa y th''
bite rent and on t he ma tut liy or
Hie debt . to ref itiam v to become
Month Is
of Savings of $5,000
only saved a little over $5000 but
i it was the early start that did it.'
If he bad waited before starting
to save, his per cent income would
have cost him more. Think of.
$5000 in savings producing $100 a(:
iiioiiiiii
"Hut," he said, "1 made a bet
with myself years ago that I would i
not ask help from my friends after .
I passed 0 ft. We have a building
and loan association in our town
that has earned and paid an aver
age 6 per cent dividends for years.
So 1 did a little figuring. 1 knew
that $ I oo a month w ill slwayu
keep a man alive. It eve leaves
a few .extras now and then, after
the har necessities art paid for.
Not much for real rills, of course,
but a lot better than nothing.
"All rikMil $ioo a mouth la
? I uoo a year. This would mean
that I must have $ JO.oimi invested
In our Utile building and loan as
sociation, as it is paying 6 per cent
every year. That $20, mm seemed
an impossible goal. And it woulu
be Impossible for me to save that
amount tpilckly. It would take
$100 a month for moro than 11
years (13!) months) In our building ;
and loan association, and 1 knew
I .. couldn't save $100 .a month. ;
Some 'men can do "it -easily, of
ro.urse but my earnings, were too J
tuna II.
"So I knew that If. I were to get1
that amount It would tucHii saving j
u.n i i if mi iiimi in ok iur riiiu-
pounil Inlcrest to do the rest. Wait
ing is the easiest thing 1 do.
"That little problem in arith
metic didn't take long. I experi
mented with various figures $ii a
month glvcH you $ 1 nan in about
years; $10 a. month given you
$l!MlfD, am) so oil. Well, if 1 saved
$10 a month at LM, I'd have (Hto
(Continued on Pngo 4)
FRESHMAN SHOWS
THRIFT GENIUS
High School Boy Saves
$500 During Year by
Doing Odd Jobs.
'l wish I could sav as nitieh
money Oils year as that seventh
itrado boy." mi id one teacher lo an-'
other. The boy Is (ieorge Cordon.
. thrift chairman of Itoom.L'M. He
1 saved MMi last year ami. as he put
ill. "bought clothes and tilings be-
sides" and lie Ik just 12 y his of
The boy m I h; sou of 'Albert Oor-
i don. !'l!i South Matthews street,
Los Angeles, California, lb' is a
I rirsl-yar student in Hollenbeck
I Junior High School and ranks first.
I In school thrift activities In an t u-
, roll mi-ut nijmbei fng more than
i I'tiiui Kimcn!
i Mailed Digging Weed-,
, (Jeorgn t n rncd Ills first money
: three years ago diKginc weeds. Th -
Ifolloulnj; yoar ho look a paper
route. l,nd year he added a maga
J stltie agency, with mowing lawn",
I hunting weeds and running chores
I as sidelines, (leorge never lows an
I oppori unity to earn money, and II
oppoft unity doesn't come seeking
him he is apt to go seeking it. I's
n;i lly he doesn't have to no fa r.
lieeenlly lit! met
King his garbage
walk.
neighbor tug-
can to Hie wide
ly good for your
." lie called.
"That's not
tii-rt soil. Mr. A -"You're
right
II isn't, and.
what's more, j hate t h
and
foiet It half the time."
The result of tills encounter was
a conliact Jor Hie removal and re
liirn of Ihe ran nicely papered
(ujeii a week- and 'borge was
richer by lia ents each trip.
rnis Tre,. 1'arlner-Jilp
Just before Christmas (icorgf ),-.
jran to speculate. A tot el children
n et c e. peel ing Ch ril mas t r''eii.
Where were they mmliiK from'.'
"Well," said a grown-up man.
w ho was moved to do a lll'le specu
lating ai.oill tba' (hue also. ' up
iow Vou and I go into pa'luersMp
and s II 'cm."
' tin at!"
The pailueiflilp wan (oiined oo
a jin-'iO basl-s A slatid was rallied
at Klxtli street and lUjyle avenue
New Stockholder
- -
j 4m
1r. A. I... Hlcbanlson of .u
Grande, former president of 1 he
La Cirnndn Building and Loan as
sociation has been added to the
list of stockholders in the (luard
lan liulldlug and Loan association
and in the ATortgage Investment
Co. ,
Thfi Hiiiti-dliiu fetds that UK
Itichardson's action in purchasing
this stock will adil confidence and
stability to the local branch as h ft
Is a staunch believer hi building
and loan. The HuHtdlau welcomes
Or. Itiehardson Into their associa
tion and trusts that his many
friends will bo guided by his ac
tion. "l-or Ihe past thirty years 1
have mil been without slock In
noma building and bain associa
tion and regard H as a safe and
sum' Investment. I have matur
ed many of these stocks in the
past nil years and at ihe present
time I am a consistent Investor in
stocks, hot h for myseir and the
Grande Uonde honpitnl." Dr.
Itiehardson said when interview
ed. "This type of Invest tneill In
duces people to form the huhtt of
Ihrlfi. accumulate sav inns, and
encourage Imnio building," he con
tinued. "I'copln should begin their
invest m cut In hul hi Ing and ton u
stock with the Intention and de
termination of carrying It to ma
in rity."
"It Is w Ith reguln r saving or
some amount mich month kept
up over a period of years that fin
ally operates lo the great, henelli
of Ihe investor," Hit doctor eon
eluded. Dr. A. !,. Illchanlson received
his ediH a I Ion In eastern col leges
and universities, at Chicago and
St. Louts.
He came to lit gon, loca Hug
in La Ora tide in 1 Mi 1 , and since
then has practiced here rout I mi -ously,
will) the exception of lime
spent In post graduate work In
the east.
He fs ii member of the Lastrrn
Oregon District Medical society,
the Oregon Slate Medical society,
and Hie American Medical asso
ciation. Ho in the director head
of Hie Oram! Uonde hospital of
1 La Grande wtiiclt has a capacity
of 7a beds.
Properly Question
As Applied lo You
The ojfHtion Of poerty alir:.
a community intercsin every goo'l
man and cilieii; led when pov
erty Is allied w ith old age it is In
il special degree pitllul.
It Ik a painful thintt iur u mao
with a family nf healthy childc n.,
Wi II btOIIMllt lli, to hllVe the coll
seloMHU"HK of b' llig a, burden on
'htldt'en who may Have ut -ady
entered on tin Mann- r'H'inn1 Muli
l I'-m and pi it a' loin he hud hi in
Sei( gone )H0C! With Olll Ule
pta'tje,. of saving r.g'lta rl'. It Is
rlOllbi 1 111 If t ie Hepar.lt )ot oT till
agej lOUph ill l-al lliote t.
Int.', or een a h l"yitig. s Hie coin
pul.iory separation on entering Hie
poor llOle. t 1 pljt't 111'' .j ll-'' 'l
eouide und' r e Hh Udhp- unlike
Iill thing lliey had i xereueed be.
lnp and nil that amid h range
a ml nueongeiilii I u-soctales.
Ah a matter of equity to every
one In the com in unity, a weekly
savings program should bo a ncc
viwlly udvoeuUU by luw.
BUILDING AND LOAN
ASSOCIATION PLAYS
AN IMPORTANT PART
Nature of Organization Is Explained Building and
Loan Companies Permits Man to Take Uncer
tainty Out of His Investment for the
Future; Community Ideals Served.
lly tlucoli
Jacob. Doltrht . -U
Is sometimes' said that the
average American is inure or lesa
thrtrtlcsK. and expects that Ills for
tune will he made through a lucky
chance. If this were true, there
would be even n wider gain Alien
nttw oxIhIh helweun Ihow with
fortunes and Hiose without.' Hut
llko malty other - half truths, It
overlooks a most Important part of
our ecouomlo life. It Is merely
Idle to talk shout undue oxtnttii
with thn facts about our peopte'a
savings. HUlo by sldo with our
largo expenditures for luxuries and
pleasure, wo find a host of ex--pondltures
for capital goods that
contribute to the progress of our
time. And most of our capital Is
saved in comparatively small huiiih
in lust It tit Ions designed primarily
to promote thrift and to accumu
late a cash reserve.
rerhaps it may be said that we
depend too largely upon chance for
th larger rewards of life. Hut for
thn smaller things that make for
a successful, progresr.lvo commun
ity, we do not lake so many
chances fi'i popular opinion would
have us Jielieve. During thn time
I hat. young men and women it re
watching for Ihe great opportunity
thai will mean a competence for
them, hundreds and thousands of
them are putting aside small sums
each pav day toward thai Unknown
rainy day which Is sure to bo
ahead. They may be looking to
ward ttie chance of big gains, sud
denly achieved, but they have not
forgotten ihe smaller things, as so
many demagogies would hnvp UH
believe. If they had, Insurance
companies would be out of busi
ness. Investment companies would
close their doors, ami Ihe general
bitsineiis life of our country would
lag. All t Itese concerns help In
furnish the capital with which
which business Isgarrled on. and
they get It priii$pa lly in small
a mou ti Is from Individ ua I custom
ers, who have a limited store of
saving;-.
Among the investment coin
pa tiles, the 'oi I id 1 ng and loa a as
N.icljitfnii bas taken an iliconspicii
old bill lievert heless ItiipOrl a'ut
part. There is one of them fur
every !i,M I or the j pie .,f the
I ' n It ed States, yel comparatively
few people Ifnow how they oper
ate. There hit more amiocla l ions
(linn the tola! number of national
bunks, and there are more than
oiie-thli'd as li'.-niv as all Hie hanks
cniiiblne'i. Includlm- national, state,
and private.
Mont of the mone of the mod
USEFUL GIFTS
to each
NEW DEPOSITOR
Free Pencil and
Blotters
To A li School Children
SAVE
WITH
V --'r- " SAFETY. V
NUMBER 311
llolirln
ern building and loan association
Is invested in homes which mem
bers are buying through systema
tic pnymenls. It is Impossible to
Hay how many homes have been
purchased with the aid of building
and loan associations during thti
past ninety-four years, but in a
few districts moro than hair the.
homo owners have boon aldvd.
Tito community Ideals which ant
served by these associations lire
appreciated throughout the coun
try. "A building-and lonn asso
ciation is not a philanthropy, it Is
a straight business proposition in
w Me h a vn I u a b le serv Ico Is re n -tiered
to the borrower and Is paid
fur by hlnv at a rat Which pro
duces, u. reasonable profit on tho
investment-. -? Thus the business is
fair ii nd beneficial to both sides.
Such an association gathers up tho
savings of small Investors and puts ,
them to work : by financing the
building nf homeo. By reason of
the Installment rln of repayment
spread over from five to ten years
of monthly dues, the borrower is
able to pay for his homo out of
hhi earnings."
Thrift Is by no means as trito a
subject for discussion nn somo
would hnvo uh bellovo. "Thrift is
a diseiplinnrlan. It breeds viril
ity. It Hi likes at sensuality, self-.
I Indulgence, flahblness. It teaches
tho heroism of self-denial, tem
pera nee. abstemiousness, and sim
ple living. It Is the way to suc
cess and Independence. It makes
for h ftppy homes, contented come
muni ties, a prosperous nation."
The value nf home ownership for
u large portion of the population
Is not to bo denied, hi spite of
many advantages of renting for
persons whose work iiiukos fro
(picnt moves tiocessary.
Amortisation, a method of pay
ing off a debt- Tho success of tho
building and loan association in
promoting the two Ideals Is duo
primarily to the use of small per
iodic, payments, or the so-called
"pi Ir.elpto of amortization." Tho
term "amortization" means "kill
ing off." nnd Is used to signify
the repayment of debts la period
ical I entailments. Loans are duo
at Home given time In tho future,
and when tho amortization prin
ciple Is not used, the borrower
often has difficulty In finding tho
large sum of money to moot the
lump payment when duo. Huch
loans are called "straight" mort
gage loans. It is the common ex
perience of lenders on straight
bums that the debt Is seldom paid
In full except ft ft or several ro
newalK. During Hie term of a
straight loan (ordinarily from
three to five years), the borrower
(pays the Interest, but usually makes
; little or no effort to a ecu inula to
j a fund fo' I ho repayment of thn
principal. As a result, when thn
mortgage hi fine, he is obliged
eiticr lo renew II Glint K borrow
(he same sum for another period
! n mii the Fame lender), or "refund"
, Continued on Tagn Thine)