The OREGON STATESMAN, Salem Oregon,
Thursday Morning. January 9, 1930
PAGE TWELVE
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STOCKHOLDERS
fBIKSMT
More Conservative Policies
Urged by State Super
I intendent Here
- Adoption of more conservative
policies especially with relation to
hm retention and conservation of
s-alngs'. will be stressed at the
annual stockholders' meetings of
large number of state banks and
trust companies scheduled for to
day. . This was announced here last
lght by A. A. Schramm, state su
perintendent of banks.
"The stockholders of all state
banks and trust companies will
hold their annual meetings to
morrow," said Schramm, "for the
election of directors and tran
saction of other business.
'In many of the institutions
the stockholders will be informed
that their directors and officers
are adopting a more conservative
policy. This relates especially to
the retention and conservation of
earnings. A number of banks
are holding their earnings intact,
intending to build up their sur
plus and undivided profits ac
count and refrain from the pay
ment of dividends. This is due'to
the fact that banks are no longer
penalised through tax assessments
ioi- increasing their surplus ac
count or carrying a larger balance
in undivided profits. -
"There is a decided tendency
towards conservative distribution
ef earnings which means better
protection for the depositors and
eventually greater earnings for
the stockholders. By the reten
tion of earnings there is an addi
tional capital on which future re
turns can be anticipated. A part
of the earnings will be applied
towards the removal of slow,
doubtful and criticised assets be
cause banks realize that deposits
cannot be paid back through froz
en assets.
"Stress Is being placed on bet
ter bank management" because it
Is becoming more difficult to loan
money. Bankers realize that
eventually they will become cus
todian or guardian of borrowers
who ask for more money than
they can handle intelligently. The
banker's first obligation is to the
depositor and the borrowing pub
lic, through better bank manage
ment, is being brought to realize
that when the loan is made the
bank must have definite assur
ance of at least partial liquidation
on the due date.
"A special letter will be sent
to all bankers urging them to at
tend the Pacific Northwest Bank
manager! conference to he held
in Portland March 5 and 6."
LABOR DELEGATES TO MEET
Aircraft Firm
Files Articles
As Corporation
The Pattison Aircraft corpora
tion, with capital stock of SI 00,
. 600 and headquarters in Eugene,
has been incorported by George
W. Pattison, Henry Ross and
Winifred McPhee.
Other articles filed in the state
corporation department Wednes
day follow:
Barns Mercantile companv.
Burns. $15,000; H, S. Stockwell,
C. A. Roe and Elizabeth Stock-v.-ell.
H. E. and O. F. Cross, Inc.,
Gladstone, $40,000; Georgia
Good. Percy A. Cross .and Marce
line Hammond.
Fallon Tool company, Pendle
ton, 83,000; Guy Ritcheson, G. F.
Hodges and John Fallon.
Oregon Seventh Day Adventist
Campground corporation, Port
land; Ira Woodman, Harry
Haynes and John A. Rippey.'
Three Students
From This City
Get High Grades
UNIVERSITY OF OREGON,
Jan. 8 (Special) Three Salem
Students were named on the fall
term honor roll at the University
of Oregon, according to announce
ment by Registrar Earl M. Pal
lett. This means that none of
them received any grade lower
than a XI, au exceptionally high
'111
in
Your pyrpotw k
visiting .
Son Francisco
wSI bo hotter
cr
THE
CLI FT
CZAHAJUYlOtSt
SAN-FRANQSCO
'A jV.- mi
' '-A j 7
Rath Andrus,
of Chicago,
at the left, and
Clan Fisher
are delegates
to the
international
Labor
Conference
in progress in
Pittsburgh.
Labor leaders
will make an
exhaustive ,
report on the
conditions
in the
Gastonia, N. C
textile strike
situation,
which was the
chief source of
trouble
in the past
six months.
(Intarnattonal
average.
Mildred Weeks, Ruth Clark and
Phyllis Van Kimmell are the
three.
BOOZE FIXES MANY
PENDLETON, Ore., Jan. S.
(AP) Liquor fineg enriched
Umatilla county's general fund
53.115 during 1929. Violators of
the law paid In $9,890 for trans
portation, sale and possession dur
ing the year. Part went to the
state,, $3,115 to the county and
two new cars were purchased by
the sheriff's force.
STOCK TRADiuG
IS AT LOW EBB
Ticker Take Stands Still for
Minutes at Time as In
terest Wanes
NEW YORK, Jan. 8 (AP)
Paralysis ' penetrated further in
the stock market today. The
day's trades aggregated only 1,
38,830 shares, the smallest full
session's business since August
13, 1928. The ticker tape stood
still for minutes at a time.
Rarely has there been such a
divergence of epeculative opin
ion as there is in Wall street at
present, and pending visible
signs of a definite market trend,
most traders prefer to express
opinions rather than act on them.
Experimental efforts on the part
of both speculators for the rise
and for the fall have gone un
rewarded by definite results.
Some observers liken the pres
ent pause to the lull that precedes
a storm," and predict that the
market will soon have a violent
awakening. Others, however,
believe that business and Indus
trial conditions will improve but
gradually during the next two
months, and that indecisive re
sults of the current quarter will
damnen sDeculative enthusiasm
on either side of the market
Small Down Payment
' O N LY'V
-. s
WARD'S again lead thm
way in value-giving!
with price reductions on
famous Airline-9 Screen
Grid Radios which bring
the best-in Radio within
reach of all! No need NOW
for anyone to be without
die pleasures of Radio! No
need NOW for anyone to
be satisfied with less than
the best in reception, tone
quality and selectivity! Come
tomorrow! See -hear
compare! Too will agree
that oar values are on
equalled elsewhere and out
terms so liberal that yoa
would never miss the mall
weekly payments.
Was $128.00
W 1 1 SSMBSMBSMBBUBMBBSaUBlSSSSSI
TUBES
IPrices Cot on ISiese Two Xlcflete, Too!
Was $106.75
Now $96.00
MOim246S-AU.Hcc.6vTube
Console Saper-Dynainic Speakers
Famous Posh-Pall amplification
Tvo-toned Walntxt finished cabinet
wifhmatched lidins" doortvPcr
fonnance that, rivals histrtrments
setlinsj at $25 to $50 more' -
Was 1106.75 Now Only $96.00
Was $88.50
Now $78.50
.MODlHfZ49i-M'Hectric.8Ttibe
Console. Super-Magnetic Cont
Speaker. Posh-Poll amplification
.- Walnut veneered cabinet with lat
est sliding doors Clear tone, long
range, unusual selectivity, taower
fol and sensitive. .
Was S880 Now Only S78.50
275 N. Liberty St. Phone 1435 - Salem, Oregon
B-B-B - B-B-B-B-B - B - B - B - B-B- B-B-B-B
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MARION STREET AT COMMERCIAL
Open Every Evening
Until 9 o'Clock
Fresh Meat Department Grocery Department Bakery Department
Fresh Fruits and Vegetables Drug Store Lunch Counter - Barber Shop
Furniture and Houseware Department. -Meet your friends at the Market.
Thousands make this Market their headquarters. Rest rooms telephom
Radios for your comfort and entertainment.
BABY BLUE FULL CREAM UMECO
BROOMS CHEESE Margarine
A real value at Jl 1 1 ff" sF
J3C 2 lb. 55c 3 if,, 43e
FANCY
Mop Handles BACON
Straight Sticks MILK
Strong Clamps JP
12c 83c 3 e 25c
DRIFTED SNOW
FEET'S BROS. . FLOUR LIBBYS
SEAFOAM 49LbSMk MILK
""ST m 3cs,,s25c
SCHILUNG'S
COFFEE B
CITRUS 1 Lb. Cans " -
ur?.. . TOMATOES
23c - 2 cans 25c
Busick's Mellow Blend
SAL SODA COFFEE
BUCKEYE
f1 3 lb. 83c LEMON
jjg 2 oz. Bottles
Oregon New Crop AtTh
' White JQ
BONAMI BEANS
eahelb 'nT corn, peas
, QlG Stringless
SAPQLIO BEANS
m? sugar cans OSc
II VU Packed in cloth sacks - -
. . 10 Lbs. net '
5 LD3BYS
Fancy Yellow Cling
1
"JJq FncykRed Cbili " PEACHES'
' BEANS N. ty, aire cans
drano 3 lb. 25c 2dc
ROYAL BAKING . . Broken Sliced
BAKING PTNFAPPi v
SAN1FLUSH POWDER
5 LK Tins No..2
2s & eans ggs
CQ B-.BJB-B B -B-B - B-B-B-BV-g . fflgAa
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