The Oregon statesman. (Salem, Or.) 1916-1980, February 03, 1923, Page 6, Image 6

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Oregon Laws Affecting De
positories to Be Revamp
ed, Is Proposal
' . Senator Robertson and Hare
yesterday introduced the Jong
pending bill ! for revision of the
state banking code. vIt carries the
endorsement ot Frank C. Bram
weir, state superintendent ot
banks, and was prepared .by a
special committee appointed n
behalf ot the Oregon Bankers
. Closer "supervision on behalf of
officers and directors of banks
ami the better fixing of responsi
bility upon them are among the
features of the measure, also
greater safeguards for depositors
ruid protection of assets for their
lMlf!t'.' :-(-'.; ? J: ' ; - "
riramwell Explains Bill
' "This banking bill represents a
romplete revision, of .ouri. present
laws." jsaid rMr. Bramwell in ex
plaining the measure The bank
ing laws, as they exit.todlay, have
been used a a foundationTor this
revision We have endeavored to
make provision for all the loop
holes and weak places in our pres
ent laws by preparing such new
sections as may be necessary and
also. by, selecting appropriate laws
from the various states, Including
principally the states of New York
and California
In preparing this new banking
rode, the committee has endeav
ored o reach' A every condition
which has', resulted through the
experiences of the past two years
and for which 'no appropriate pro
vision now appears in our present
Jaws. This new code will require
close supervision and direction on
behalf of Officers and directors
It fixes responsibility upon those
wbo are charged with the man
agemelil arid direction of our
. banking institutions. It also pro
vides greater restrictions,"5 but a
broader field for the investment
of funds. ". It also Imposes greater
restrlctidns upon loans and the
manner in which all assets shall
be held and preserved for the pro
tection of depositors. : . : i
Safeguards Provided: :,
"One of the most essential fea
tures in this revision is to. provide
greater safeguards for depositors
and Use' protection, "or assets tor
tfceif.lieaefitiV.Tbis bill is designed
to cover .all of the essential tea
tares which will provide ftr the
management and eontrol of bank
iag institutions on .a sound ; and
conservative . basis to provide j tor
future protection. . It wili also re
move the .many complications that
develbped in recent litigation in
volving various instltntons which
became nsoivent during the past
two Tears ,; -'.-;.. " v :
"This - revision is the result " of
careful research and consideration
covering a period of several
months. A legislative committee
was appointed, on behalf of .the
Oregon Bankers' , association con
sisting of Samuel , L. Eddy, vice
president of Ladd & Tilton bank,
Portland; A. "C. Shuie, president
Shute Savings . bank, Hillsboro;
William Pollman, president Bakei
Loan A: Trust company? Baker;
Leslie - Butler, chairman . of ' the
board fcf directors Butler Banking
company. Hood River; Vernon H.
Vawter, cashier the Jackson Coun
ty bank, Medford. '. J J."
( Committee Assisted v
. "I .have worked in connection
with . his committee with . a. view
of rendering ; all possible assist
ance and to give them the advan
tage of the experience of this de
partment. After the bill was pre
pared, by tho legislative commit
tee, a Joint meeting ; vwas jthen
called between chis committee and
the Clearing House association of
Portland. At .this 'later meeting
about 25 bankers were present,
many of them .representing vari
ous, institutions throughout ,, the
state. The Clearing House asso
ciation was represented by J. C.
Aijosworth, president the United
States National bank, ," .Portland ;
C P. Adams, president the Securi
ty Savings & :Trnst company of
Portland , W. L. Thompson, rice
president the First National bank;
Portland; Edgar 1L Sensenich,,'!,
presiuem me ..norm western.
456 Court St.
Phones '
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National - bank of Portland, , and
also representing the executive
toinihlftee of the American Bank
ers association; Walter Cook, as
istant manager of the Canadian
Bank or Commerce, Portland;
John F, Daly, president the Hiber
nia Commercial & j Savings bank
of Portland; Prescott W. Cooking
ham, general counsel of Ladd &
Tilton bank, Portland.
Revision Examined
"ThIa Joint committee made a
very careful examination of the
entire revision. Additions and
eliminations have been made pur
suant to the decision by this com
mttee and the bill is now prepared
In harmony with their conclusions.
As it is now l presented In the sen
ate, the bill will have the unani
mous endorsement of the Oregqn
Bankers' association and the
Clearing Mouse : association of
Portland. i
"I have given this bill careful
consideration. ", It will have my
unqualified endorsement and I
feel confident that the legislature
vrVl see fit . to pas3 this bill as
now presented and recommended.
After its passage, sufiicient copies
wilf be prepared for distribution
10 all banks. and all persons who
may desire a copy for their infor
Financial Salvation
of Austria Announced
PARIS, Feb. 1. The financial
salvation of Austria was announc
ed to the council of tho . league
of nations by the Earl of Balfour
as virtually an accepted fact andf
M. Viviani, who referred to the
league as "the last resort for na
tions and states whose problems
become insoluble," Faid the
council how wa3 ready for other
problems. j !
The committee's report to the
council set forth that the needed
loan of 650,000.000 gold crowns
had been guaranteed to the
amount of Si: per cent by Great
Britain, Prance, Italy and Czecho
slovakia; that 9 per cent inore
had .been pledged by Spain, Bel
gium Ttnd Switzerland, and that
Sweden, Denmark, ; Norway and
Holland would guarantee the bal
ance." -:. r '
Thus 1 bankers will be fully
guaranteed for any loans they
make to Austria up to the total
fixedby the committee.
Made of pure ingredients, whole milk, pure creamery butter
-the same as you use on your own table the best fillings and
flavorings that can be bought ' . !
That's why Bake-Rite Products are so different from the
ordinary. 1
Bake-Rite Sanitary Bakery
456 State Street
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Who have discovered the. convenience of an account af our store? A number
done, so In the last tew days. Open an account today and do your Saturday
ping at our store. , ; -.- i -
J; E, Layton Due to Lecture
at Chamber of Commerce
on February 7th
J. E. Layton. "Tle Practical
Poultryman" is to lecture at the
Salem Chamber of Commerce
Wednesday, i February 7, on the
Ills and the general inside dope
on handling poultry for profit.
Two lectures are to be ; given.
at 2:30 and at 7:30. Everybody
inrerested ijj poultry is invited,
urged to attend; j boys and girls,
men. women, everybody.
Mr. Layton has been traveling
over the state putting out what
is described as a really wonder
ful series of talks' on poultry.
He has a set of rducational
slides covering much of the poul
try business, that help greatly in
Eett'nc his message across. He
. tukes up poultry raising in all
j its most vital points, the feed
ing-, the culling, the treatment
in case of disease and he has
been in such a demand that it
was hard for the Salem poultry
enthusiasts to! set him here lor a
series of talks. He has been
talking to capacity houses all
over the state, especially, where
they could get him for ; return
engagements. " "
It has boen reported that there
is some illness more 'or less com
mon in the . .flocks of this vicin
ity. Those 'having ailing birds
are urged to bring them ; in for
diagnosis and treatment. The
matter of cull'ng out the drones,
and curing the sick and feeding
the flocks so as to make them
pay, will' be presented in a' mll-l:on-dollar
The two lectures will be dif
ferent', and both are freeu
Maggie Cline, the strapping,
husky Irish : comedienne and sing
er, Is dead. Remember her song,
"Throw 'Em Down, McCluskey?"
And the way Maggie sang it he
was thrown down, all. right.
Bread and Pastry .
Members of House Rub
Hands and Wait Expect
antly for Measure
Members of the house
rather expectantly awaiting
reporting . o? Representaaive
liurlburfs bill to change the ten
ure of office of the adjutant
general, following the announce
ment by Chairman Cowsill of the
military affairs committee, that
the debate on, the floor when the
bill was reported would startle
the state.
Hurlburt attempted to have
the bill which has been in com
mittee since January 11, reported
out immediately but the motion
was lost after Cowg'll explain
ed that additional public hear
ings must be. held. . ; 1
"Charges and counter-charges
have been made before the com-
mittee" said Cowgill. "We are
going to show you an amazing
wfb of Intrigue back of this bill,
fathered by animus and hate."
The report will te vfiled early
next week, according to Cowgill
and will it is rumored be against
the passage of the bill. . , ; . '
Three Bills Signed
By Governor Pierce
'Governor Pierce has signed the
following bills:
Bill to extend the - match
money arrangement between the
state and the government rela
live to funds for construction ot
the Roosevelt military highway
Senator Strayer's bill increas
ing the traveling expenses of the
Briker county school superinten
Bill introduced by the Linn
county delegation in the nous
providing for the eradication of
bovine tuberculosis in that
county. .
Phone 268
The housei passed the following-
bills. . ; ,
H. B. 200, Hurd Prohibiting
fixing of admission vfees" at mo
tion picture . houses by distribut
ors. - '
H. B. 2.17, Reynolds Provid
ing for appointment of deputy
county horticultural . inspectors.
H. B. 167, Hammond Relat
ing to calling of special elections.
H. B. 256, Bailey Relating to
boundaries of Benton, Lincoln
and Lane counties.
II. B. 164, Fletcher Permit
ting certain minors to drive mo
tor cars under certain conditions.
H. B. 231, Committee on food
and da'ry products--Pertaining
to regulation and manufacture
of food products.
II. B. 237, Wilson Relating
to sale of narcotics, adulterated
drugs, denatured .alcohol and
other poisonous substances.
H. B. 270, Joint committee on
insurance Providing that In
demnity bonds shall be placed
through state agents. .
H. B. 280, Joint committee on
insurance -To license any regu
larly appointed and licensed in
surance asnt.
i II. B. 303, Committee on Tor
ertry and conservation Defining
duties. o? state forester.
H. B. 304, Committee on for
estry and conservation Provid
ing-safe guards In logging oper
ations. '
H. B. 305, Committee on for
estry and conservation Pertain
ing to fire patrol assessments.
H. B. 307, Mrs. Simmons Re
lating to disposition' of moneys
belonging to inmates- of state
IL B. 308, Mrs. Simmons De-
SKAGGS UNITED STORES, BUY and SELL more Groceries than any other retail, grocery organi
zation in the State of Oregon. " . y
We own and operate the largest number fi:Grocery Storesin Oregon.; That's Why we SELL
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f 1
t 3
m kite mm ig ;
l.MiJ Jll'!J.ll ... J III I.JI. -" M ! L-mH U II S '
KOIHD DAlES I Cher's 9 pound bag Ah
fflEAFPLE 1 1 A' - : 2gc
Phone C; 0. D.
ifining the duties of chUd welfare
commission. . . ; .
H. B. 101, Goln and McMa
han of Linn Providing tor the
formation of weed control dis
tricts. ! :. .
IU B.- 411, Lackey To make
islands in navigable rivers 'sep
arate bridge districts and provid
ing for ther building.6 pf- fridges
end the issuance at' bonds by
them. ? ' . -J . .
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S. ... B. 12. Eddy Relating to
liens for fafm labor.
S. ii, 45, Farrtil, relating to
cemetery- asiociatuins. 4
G. H. J. Prayer t died at the
home d'f hfs ' son, i Carl Frayer
I n Portland,' ' January 1 7; " The
-funeral-, was hold -'Janoary1 "li
and interment was in the ceme
tery ; at Turner. L5Ir. Frayer
was 72 years of age, and has
een living on' a facm two and
one half miles south of Shaw.
A eon was bonk to Mr. ant
Mrs. IB. D. Wells J January 29.
Mr. Wells Is 'at the'1 Deaconess
hospital in Salem. - -
Mr. and Mrs. L. K?ene spent
Sunday afternoon arid evening
a th home of Mr.- amd Mrs. J.
Mrs. E. Hooper Entertained
the Community club op, Wednes
day. ; Mrs. G. J. Thatcher was
a visitor. . !
Miss Amanda- MattEtews Is a
guest of Mr. and 'Mrsi. V. Ash-
bee tfor a few days. V -1 -. .
C. ; A. Fisher made. a. business
trip to, Aumsvillo Wednesday.
G. E. "Scbopf , and J. W. Fleber
orders 478. ' Have1 Your
... No Additional Charge
i ii fffiip -p n n n n " "
f '.
motored rto TurnerrWednesday."!;
G. ; E. Scbopf, " C. A. Fleber
and -E. Amort visited ' Rev. F.
H. Scherbring Tuesday evening.
C. T. Gifbert .And son Edward
and J. .Schneider -drove to Sa
lem Tuesday . evening. V .
Mrs. L. f Le Grise and Mrs.
W. Flleot spent r Tuesday- eve
ning: with Mrs.' E. T. Chamber-1
lain. - . . . ', .
. B. D. Wells spent a ' tew days
in Salem. . " ;
155 N. Liberty Street
.It4 you sare a dollar you have made a dollar, so jtrst
:try it for this Saturday and make moneyby shopping at
People's Market and get Meat, of guaranteed quality. -i
Whatever you buy is strictly guaranteed. 'Please call ,
if only to get prices. . . -
Freshly . Churned guaranteed Creamery 'Butter,
pound .... .......... w - . 45c
Plenty. of choice government inspected 'Beef 'Hearts
- for all, lb. .. ..v. i
Plenty of government inspected Liver, sliced or piece
only, per lb. r;.. .1
Extra Fine Salt Pork for
Lean Meaty Pore1 Chops,
Lean Choice Side Pork, slice
Lean Corn Fed Pork Steak
Lean Meaty Pork Roast, lb. . 20c :
Fresh government inspected Brains, only, lb. ; 14 V2 c
Fresh .ground JElamburger, 2 lbs. for J25c
Fancy Sugar Cured Hams," y2 or whole ham, lb. ...wi..24c -
v Sliced, lb. ... 1 ....... :. .;3oc
Fancy, all pure Pork Sausage, lb. -- '. 20c "
Be sure to try our "fresh
Meats and Groceries Delivered Togeth
on Fairview Avenue.
'Mrs. - P Claxton " entertained,
the -Waldo Ilill club "on January;
25. .. : . . :- : " . :, .
Mr. and 'Mrs. J. F. Young ara
visiting their parents 4Ir. and
Mrs. .Albert .Young of Salem. .
Mr. and Mrs. . C. A. McCallister
and "iMrs. E. T. .Cnamberlain
drove to 'Salem Tuesday.-
: The tT-4teTary ciub held a meet. -in'g
at SIhopf's hall "January 23.
Miss LeHa -"Paris of Salerno Is
visiting at lthe liorae of W. ;Riee.
. Phone :794
seasoning, only, lb. 1
or in piece, lb. ...
..Oc :
Jxmeless Corn JBeef .
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