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Page 12
PORTLAND OBSERNER
U^PS 959-680-855
Volume XIII, Number 39
July 13, 1983
25C Per Copy
< lùor Pubtukmt Co.. tnc 191)
ASB president strikes
down closure rumors
Swakara Nettle* (2 yr*.I gat* a little help from
hi* coualn Acton Walker (10 yr*.I, In reaching the
never low enough water fountain.
(Richard J. Brown)
Rumors that Oregon’s firsl black-
owned bank is folding are unfound
ed, according to the president and
founder of American Slate Bank,
Venerable F. Booker.
Booker said that customers have
reported that people in the local real
estate industry had told them that
ASB was on the veige of imminent
collapse, and could no longer even
afford to pay the rent on its head
quarters.
"W e are in a profit position right
now, we are having no sorts of
problems like that,” said Booker.
“ We have a net profit of $108,000
as of June 30, which is a long way
from being broke,” he said.
ASB’s assets totaled 116,699,289
as of June 30, up from $15.064,257
at the end of 1982. The bank
recorded net earnings of $158,871
for 1982 and $202,740 for 1981,
according to the 1982 annual report.
Even though high interest rates have
eroded profits, according to the
report, shareholders dividends were
raised at the end of 1982 "to share
these profits.”
Booker said that ASB has no
problem paying the rent because it
has owned its headquarters located
at 2737 N .E. Union since 1970. A
downtown branch office is located
at 204 SW Yamhill.
No larger bank or outside con
trolling interest pulls the strings at
ASB, Booker added. "W e are our
own bosses."
Rumors of problems at ASB have
surfaced periodically since he
Survey defines childcare needs
" I would hope one of the reasons
that the community at large would
want to complete the survey is that it
give* you a voice in the kinds of pro
gram you have here. What you like,
what you don't like and it gives pro
grams already in existence some di
rections a* to where to go and what
to provide.”
CornettaJ. Smith
Director. A M A Family Day and
Night Care
GRASSROOTS N £W S, N. W. —
The Albina Ministerial Alliance is
conducting a survey of both North
and Northeast Portland to deter
mine the child care needs of the
parents. Director Smith says the
survey is needed to assess the chang
ing economic climate of this area of
the city. "Unemployment is on the
rise in our area and there has been a
lot of day care providers with vacan
cies and parents who talk about the
escalating cost. These three factors
created the need for a survey. We
were also concerned about the edu
cational status of children during
their early years.”
An additional concern of A M A
was the impact retreating federal
dollars were having upon children
and their families. “ For the last
twenty year* in this community we
have spent a lot o f time getting chil
dren ready for Head Start and the
whole public school scene Within
the last three to five years we have
seen a decline in federal progrun ■>
and aid to various programs There
fore, a lot of programs were cut nut
of our community. I became in
creasingly concerned about what
was happening with our si .11 chil
dren if there were no day
and if
there were no early . ildhood
educational program
ll<>|>cfully.
the survey will tell us some o f the
things parents are doing, what they
liked about programs of the past
and some of the services they would
like to see brought about in the
future."
Smith says she selected two
surveyors who were knowledgeable
of people in different neighbor
hoods. Edna Mae Pittman and
Cardelia Hooson. Pittman say* she
wants to convey to the parents how
important their input is in this
survey. "The purpose of the survey
is to determine the childcare needs
of our targeted areas. It will provide
insight to A M A of how to better
meet the needs of parents requiring
child care."
The survey consists of twenty
basic questions regarding how par
ents use child care, when they use it
and how they feel about their most
recent experience with child care.
Surveyor Cardelia Hopson be
lieves the survey ought to be taken
more seriously by the community
affected. "One of the difficulties we
are having is that people aren’t
giving us enough time to explain to
them why this survey is important
and the reasons why they should
want to fill it out. All we are asking
for is a minute of their time and I
don’t think that is too much to ask
of anyone who has children in this
community.
Especially, if you
work, are on welfare, required to
look for work, or if you are a single
parent making the minimum wage."
The Albina Ministerial Alliance is
a group of local ministers who form
an umbrella organization which
sponsors a variety o f program*
whose main purpose is to assist
young
people in
need
from
childhood
to
post-adolescence.
"There are several different pro
grams which deal with children,”
Smith begins. "One is Head Start,
which is a federally funded program
for low income families with chil
dren between the ages of three to
five. The other is Family Day and
Night Care for children birth to
twelve years old. This day care is
handled in the homes of a person
(male or female) who is registered
with us. The third program spon
sored by A M A is called Community
Kids and it is for teenage boys who
want to explore the athletic world
under the direction of Tony
Hopkins. He is working intensively
with these young men not only in
sports but in academic and perso
nality development.
"O u r fourth program is headed
by Raymond Wilson and is called
the N.E. Cornerstone Project. It is
designed to work with those students
we term "high risk.” In this pro
gram a student is able to develop
their business expertise by market
ing a product."
Smith stated that the withdrawal
of federal aid has caused, " im
measurable impact on programs but
it is through the support of a dedi
cated staff and volunteers that we
are able to survive. We are really
committed to working in this com
munity and building good programs
for our children.”
With an afterthought, director
Cornetta J. Smith says, "Children
ire our future. Regardless of wheth
er you are a parent or not, we are
asking the community to place some
emphasis on this survey. Be con
cerned about it and stop to learn
something about it. We must help
the children because without chil
dren there can be no growth.”
Edna M a* Pittman and Cardalla Hopaon Intarvlaw Sana Sloan and
Sam Rlggina to datarmln* child car* naada.
(Photo: Richard J. Brown)
founded the bank in 1968, said
Booker.
Recession and high interest rates
have made it especially hard on
small independent banks, according
to Booker. "There’s too many
banks in trouble these days," he
said, citing recent bank closures and
reorganizations in Oregon and
Washington.
Destructive rumors only add to
the problem. "That could cause a
run on the bank,” he said.
Federal Reserve figures show a
consistently strong showing by ASB
when compared with both minority
and non-minority banks in its size
range, right through the worst part
of the recession.
"W e really out-perform other
minority banks, and we are right up
there with the majority banks," he
said. "W e did it because we’ve been
able to keep our interest rates down
and watch our investments."
"W e just want people to know
that we are strong and healthy and
we are not folding."
A M E R IC A N STATE BANK
S TA TE M E N T OF C O N D IT IO N
JUNE 30, 1983
ASSETS
CASH AND DUE FROM BANKS
INVESTMENT SECURITIES
LOANS
FEDERAL FUNDS SOLD
BANK PREMISES AND EQUIPMENT
OTHER ASSETS
$ 5,999,325
3,254,910
5,463,157
950,000
604,493
427.404
TOTAL ASSETS
$16,699,289
LIABILITIES
DEPOSITS:
TOTAL DEMAND
TOTAL SAVINGS
TOTAL TIME
$ 7,745,344
702,045
6,734,853
TOTAL DEPOSITS
OTHER LIABILITIES
$15,182,242
139,095
TOTAL LIABILITIES
$15,321,337
STO CKHO LDERS EQUITY
COMMON STOCK
SURPLUS
UNDIVIDED PROFITS
RESERVE FOR CONTINGENCIES
TOTAL STOCKHOLDERS EQUITY
TOTAL LIABILITIES AND EQUITY
$
I
400,000
600,000
329,952
48,000
$ 1,377,952
$16,699,289
Salvador refugees
fear deportation
Part one o f three parts
by Robert Lothian
Picture yourself a young Salva
doran fleeing from right wing
terror. Your cousin was just mur
dered, and 30-40 friends and rela
tives have disappeared. Somehow,
you make it out of (he country, then
up through Guatemala and Mexico
to the U.S. border.
Helicopter search lights beckon
from across the barbed wire. No
torch of freedom held high by the
Statue of Liberty light* up your
dark night.
Immigration quotas are filled,
and you probably don't quality for
legal immigration anyway, let alone
know how to apply, so you enter the
U.S. illegally, fade into the migrant
farmworker population and head
north. You eventually end up on the
street in Portland, destitute, without
papers, without family or friends,
confronted with a strange language
and customs.
You are so fearful of being de
ported, maybe killed upon your re
turn home, that you avoid all but
the most superficial contact and
friendship, even with those who
could help.
Because growing numbers of
Central American refugees who
make their way to Portland Find
themselves in this predicament, a
local support network of community
groups, lawyers, social service
workers, church representatives and
concerned individuals is getting or
ganized to help.
"W e want Portland to know that
the refugees are here, they have in
tense needs and there are ways to
help them,” said Terry Rogers,
spokeswoman
for
( A M IN O ,
Central Americans In Oregon Refu
gee Support Committee.
The committee's main concerns
are alleviating the conditions of
poverty and ill health in which the
refugees live, educating the public
and lobbying for liberalized immi
gration policies that will allow the
refugees to remain in the U.S.
The refugees are in dire need of
social services not available to (hem
because of their illegal status, ac
cording to Rogers. "These people
are living on the edge," she said
"Safe" housing, clothing, food,
employment, medical care, bail
money and legal services are also
needed.
Although their underground life
style makes estimates difficult,
Rogers said that based on her talks
with refugees and church people
helping them, she estimates about
200 refugees from El Salvador and
(Continued on Page 8. Column 1/