.As. - -
CIRCULATION
C apita
onraal
FAIR
tonight and Friday. Temperature
above normal. Low humidity;
northerly winds.
Local: Max., 94; mm., 51; river,
.1 fojt; rain none; atmos., clear;
wind, north.
Dally average distribution for the
monin euaing June 30, imi
9808
Average daily net paid 9418
Member A U'lU Huttau of CtrcuUMon
FORTY-NINTH YEAR, No. 172
SALEM, OREGON, THURSDAY, JULY 21, 1927
rrtlUHi llllVIVCj lJiiJMO BTANUU riva ccntb .
:j,;""f o u
SBAHBEV A FAWHIE
il IETTH1
-m
Hold Center of Stage
BOARD FAST
IN DEADLOCK
OVER SCHOOL
Attempt to Force Con
struction of La Grande
Normal Blocked
Morning paner best, savs Rich
ards, the amazing maeiclan and
occult seer-
Good, but it took a seer to find It
out ,
Whv don't Richards tell the
Statesman how to get local people
interested in sugar beets?
That would be an achievement
worthw of wide renown
Financial Tangle Causes
Postponement of Call
for Bids on Job
Or he might tell the Statesman
what is wrong with its circulation.
Walt McDoutfall and Rob Day
have parted company as client and
attorney, and Walt says the trou
ble is that Rob wears suspenders
when he plays goli a cardinal sin.
Unless four of the nine members
of the board of state normal school
resents can muster an additional
vote and then ask the governor to
call a special session of he board
there is no prospect for the con
struction of the new normal school
at La Grande this year and possibly
not during the present state admin
Jstration. With eight members pres
ent and apparently evenly divided
on the question, those who favored
Immediate construction withdrew
their efforts when they say that a
vote by the members present would
be fatal. Recent W. C. Bryant of
Moro was absent and how he would
have voted is a question.
Instead, the board unanimously
voted to defer action for the pres
ent. The law provides, however,
that if th.ee members petition the
governor to call a special meeting
he must d f.o, and when the session
adjourned it appeared possible that
this might n done.
COURT DECISION BAR
The state financial snarV and the
recent opinion of the state supreme
' court holding it unconstitutional for
the state to gu into, debt over $50,-
ooo was at the bottom of the trouble,
In voting to defer action the ooard
adopted a resolution Introduced by
Rob on the other hand says he
never wore suspenders in his life
Anyway, we think accusing a man
' wearinz susDenders when he plays
golf is hitting him above the belt.
Harry Iliff's heifer, Lion's Lilac,
i 1 vear and 9 months old. com
pleted a record of 10,752 pounds of
milk, we are told by the dispatches
That's what we call a shame.
They have allowed this little heifer
no girlhood, taking her while the
school girl complexion is still on her
check and iiaununs ner lace wj me
world, all for a butterfat record
Wp hpt thev didn't even cet a ner-
mit from Charlie Gram to let her
work
Wait until Millie Trumbull hears
what you have made this little girl
do, Harry.
AN AMERICAN TRAGEDY.
Uy Stoddnrd Kins
(Continued on ynve eight)
DOLPH LOSES
Rpntt.1i!. Julv 21 IPl Missing
to-loot Dutt at the nth hole,
Frank Dolph, Portland, defending
his 1926 title, went one down to Pay
Coleman. Los Angeles, at the end
of the morning roiin"d of their 36
hole match in the western amateur
cnlf tournament, here today.
After Bon Stein and Harold Nei-
mcyer, both of Seattle, had turned
the ninth hole all even, each won
three holes on the way home to
couare their morning match.
Dr. O. P. Willing, Portland, fin
ished the first 18 holes one up over
Chandler Egan, Medford, Ore., when
Euan three-nutted the nth noie,
and missed a six-footer for a win
at the 18th. Willing won the nth
with a par, and they halved the
last one. Their In cards were:
Egan 434, 354, 64537.
Willing 334. 456, 45538.
Roy Moe, Portland, was leading
Eddie Held, St. Louis, one up at the
end of their morning round.
Seattle, July 21. W Prank Dolp,
Portland, defending nis crown
the western amateur golf tourna
ment here today, was one down at
the turning DOint of the morning
round of his quarter final match
with Pay Coleman, Los Angeles. He
had bucked up against a two-hole
lead from the start.
Bon Stein and Harold Neimeyer,
of Seattle were all even at the turn
ing point.
At the turning point, the Dr. O. P.
Willing-Chandler Egan, and Eddie
Held-Roy Moe matches were even.
Willing and Egan each made the
first nine In 37. Egan won the first
two on one putt, while Willing con
quered at the fourth witn a pal
when the former champion was
stymied. The Portland dentist
squared the match at the seveni
With a one-putt while Egan was
taking two.
They halved the other hole, In
cluding the ninth, with birdie fours,
Their cards:
Willing, 654, 434. 44437.
Egan, 444, 635, 534-37.
HUMIDITY CAUSES
FOREST FIBE DANGER
Portland, July 21. iff) Increas
ed danger of forest fires due to the
relative low humidity in this section
of the Pacific northwest, has caus
ed Edward L. Wells, meterologist
the local office of the United Stat
weather bureau to Issue, warnings
all tourists and c&rnpers.
Standing timber Is endangered,
Wells yft, by the exceeding drj
t,ess of the woods, rne present la
dry weather, will continue, is the
forecast for this vicinity.
GOOD EVENING
SIPS FOR SUPPER
By Don Upjohn
INDICTMENTS
COME AS ECHO
OF BANK CRASH
Olmstead and Wheeler
Get $796,514 Through
Check Kiting, Charge
Total of $11,000,000 In
volved in Operations
Over 3-Year Period
Coroner's Inquest
In Progress Over
Death of Sawyer
After holding a Jury and witnesses
for over an hour this afternoon
county and state authorities decided
to postpone until later a coroner's
inquest into the death oi Maynara
Sawyer, druggist, who was killed
Tuesday night by an automobile
driven by Mrs. Ruth W. Lockwood.
The Inquest did not convene and no
witness was called.
Inasmuch as the criminal charge
of manslaughter has already been
filed against Mrs. Lockwood tne ox-
ficials decided to confer furthar as
to whether an inquest is necessary,
and It is possible that no coroner's
probe will be made.
Quite a large crowd nad gatnereu
at the Rigdon mortuary to hear the
evidence, although the time set for
nlcture nroducers have
general wage cut News
Motion
ordered i
item.
In a poor house out at Hollywood
A Kiarviiir iiini star lav:
He had been forced to quit for
good,
Or work for smaller Day.
His sunken cheeks were flushed
and hot.
nis olie-ht touched every heart
He lay upon a pauper s cot
uecause ne iovc i nis aru
"Your name upon the dotted line!"
cruel noss nan erica;
He thought of gentle Clementine,
Ills lalpsL fairest bride.
Consent was not his own to speak,
The word was hers to speaic,
And how could she God bless her!
live
On two small grand per week?
"What, -lake two thousand dollars?
No!"
The actor said with scorn,
'I'd sooner perish in the snow
That uccKs tne mauernorn.-
Alasl That art is on the bum;
In vain the artist strives
I would not mention such a sum
To any of my wives:"
The harsh producer only sneered
(He had, it seems, no souij,
And hired an extra with a beard
To nlav the actor's role.
On mnrfi unon his wretched bed
The film star tossed, and -died
And every girl he d ever wed.
Stood weeping Dy nis siae.
Portland, Ore., July 21 (JF) Em
ery Olmstead, former president of
the Northwestern National bank,
yesterday secretly indicted with J.
wheeler, timber man and former
newspaper publisher, by the feder
al grand jury, on charges of mis
application of the bank s funds, was
arraigned today before Federal
Judge John H. McNary, and plead
ed not guilty.
Attorney William Ralston, repre
senting Olmstead, thereupon re
quested permission of the court to
withdraw the plea and substitute a
demurrer to the indictments, on or
about September 15. Neither Judge
McNary nor the United States dis
trict attorney's office had any ob
jection, and it was suggested that a
hearing on the demurrer be held
about the first Monday in Septem
ber.
J. E. Wheeler was not arraigned
today, his attorney, George Joseph,
being out of the city.
Portland, Or., July 21. 7P) Ar
rested on federal Indictments charg-
ing conspiracy and violation of the
national banking act, Emery Olm
stead, former president of the
Northwestern National bank, now
defunct, and J. E. Wheeler, Port-
(Continued on Pat Bight)
HOOVER ASKS
EXTRA SESSION
FOR CONGRESS
Paga Seven)
SOUTHERN DRYS
REFUSE TO LET
WHEELER BOSS
STATE BOARD
INDIFFERENT
TO POLK FATE
Public Service Commis
sion Does Nothing in Air
lie Line Abandonment
Doesn't Even Know Nor
mal School Located at
Monmouth
BRING GLOTZBACH
BACK FOR FORGERY
Portland, Or., July 21. (fP) Dep
uty Sheriff William Keller will leave
tonight lor san Tancisco to iaxe
into custody Floyd Glotzbach, ex-
chauffeur-husband of Madame
Matzenauer, grand opera singer.
who is wanted here on a charge oi
forcing the name of Mrs. R. u. In-
man. wealthy Portland widow, to a
$5000 check. Keller will return with
the prisoner Sunday night or Mon
day.
Telegraphic- information received
yesterday by Sheriff T. M. Hurl
burt was to the effect that Glotz
bach had waived extradition.
While Mrs. Inman signed the com
nlaint acainst Glotzbach, the prose
cution is being carried on by the
Hibernia Commercial & savings
bank of Portland, which cashed the
alleged forged check.
Rapid City, S. D., July 21 un
informed personally, by Secretary
tary Hoover, head of the adminis
tration's Mississippi relief commit
tee of pressing conditions, caused by
the inundation of thousands of acres
of southern lands, President Cool
idge was prepared today to give
consideration to the question of
whether an early session of con
gress was advisable to cope with j.he
problem.
The president was told by tne
commerce secretary that munedi
ate general aid was necessary to
help the flood area reconstruct Its
levees and rehabilitate Its nomes,
but Mr, Hoover wiiuut mention
ing a special scsstoa. said he was
convinced that the refugees could
be taken care of unltl congress
meets in regular session in Decem
ber.
He expected that with economy,
there would be $3,000,000 on hand
from the Red Cross relief fund on
November 1, but held "it is impos
sible at this date to determine what
the necessities will be after that
date."
Whether Mr. Hoover's picture of
conditions in the south coupled with
the recommendation of Senator
Smoot, of Utah, for an early ses
sion, had -caused any reaction at
the summer White House, was to
be seen, but was expected that the
commerce secretary's report would
be considered carefully by Mr. Cool-
idge in reaching a decision.
Washington. July 21 (f1) Renew-!
ed discussion of the possible atti
tude of southern drys toward a wet
presidential candidate, led Wayne
B. Wheeler today to disclaim con
structions placed on his recent ut
terances on the question.
A one-sentence statement by the
general counsel of the league sent
here from his summer home in
Michigan, said:
"Dr. Wayne B. Wheeler today, re
ferring to his discussion of political
possibilities, disclaimed the contrac
tions that the Anti-saloon League
would initiate the nomination of an
Independent dry presidential candi
date if either dominant political
party candidates is right on the pro
hibition question.
The statement was promted by
the declaration of Bishop James
Cannon, Jr., and Dr. Arthur J. Bar
ton, representing the Southern
Methodist and Baptists, respectively,
that a recent expression by Mr.
Wheeler on the subject represented
only his own opinion and not that
of the league.
A paragraph In the Wheeler state
ment referred to, said:
"There will be at least one of the
national dominant parties which
will have a satisfactory candidate
for the maintenance and enforce
ment of the eighteenth amendment.
There Is a possibility that would be!
satisfactory. Then the league keeps
hands off. If Governor Smith is
nominated and the drys in the soulh
would rather vote for an independ
ent dry candidate for president than
for a dry republican, this would
give them a chance to register their
protest.
Bishop Cannon and Dr. Barton
objected to this statement, declar
ing that while southern democrats
would never agree to the nomination
of a wet candidate, If the democrats
should nominate a wet, "dry demo
crats, north as well as south, will
doubtless determine what course
they will follow."
BY HARRY N. CRAIN
Indifference apparently sums up
the whole attitude of the Oregon
nublic service commission toward
the application of the Southern
Pacific railway, filed with the inter
state commerce commission at
Washington three weeks ago, to
abandon that portion of the com
pany's lines in the Willamette val
ley known as the Airlie branch, the
only transportation connection with
the outside commercial world en
joyed by some of the richest agn-1
cultural sections of Polk county.
While the abandonment proceed
ings do not come directly within the
jurisdiction of the state commis
sion, the presentation of the case of
the people of the affected commu
nities logically devolves upon It, as
is evidenced by the action of the I.
C. C. in serving upon the Oregon
commissioners a copy of the appli
cation with a request for informa
tion as to whether or not it would
be opposed.
Other than to request ub
hearing be held on the application,
which" request was made 'at the so
licitation of a delegation of Mon-
.(Continued on ,pano seven)
SENATE TO ACT
THIRD TERM!
STATES WALSH
Sandino Plans Attack
On Seaport Controling
Capital of Nicaragua
Managua, July 21. JPh-Notwith-;tand!nK
the defeat with numerous
casualties which his rebel ban J suf
fered at the hands oi American ma
rines and native constabulary at
Ocotal, General Sandino hopes to
capture Tiscapa port, which con
trols t .e city oi Managua, now oc
cupied by marines. ,
An intercepted message aoaressea
by Sandino to his wife, reads:
"Athough they believe me weak,
I shall soon occupy the Tiscapa
fortress."
Another message signed by San
dino. which was sent the day after
the Ocotal battle and picked up by
a telegraph operator at San Fer
nando, savs the "onli one respon-
rible lor what has happened here, Is
the prertc of the United States,
Calvin Coolldge, who has supported
Adolfo Diaz," (the conservative
president of Nicaragua).
This messacg, addressed to "all
authorities, civil and military,1 to
explain why the Ocotal attack took
place, declares that Sandino and his
men desired to show they continued
to defend the constitutionality of Dr.
Juan Sacasa (former liberal presi
dent), to dispel the idea that they
were bandits, and to prove that they
preferred death to slavery.
United States planes teaching
Managua after reconnaissances in
the Octotal region, have reported a
few bands of rebels under Sandino
at Chilpote and other concentra
lions of rebel forces to the southeast
of Ocotal.
Major Ross E. Rowell, In com
mand of the aviation squadron, has
(Continued on pbb, c;int!
PAPER COMPANY
SELLS ITS BONDS
At a meeting of the board of di
rectors of the Oregon Pulp & Paper
company held here today with F. li.
Leadbetter, president of the organ
ization present, authority for issu
ance of an additional block of bonds
was granted, the latest Issue to total
$330,000. The bonds alrady have been
sold to the Lumbermen s Trust coin
pany of Portland. The proceeds
from the sale are for financing com
pletion of additions and improve
ments to the mill for which a prior
bond Issue of (1,000,000 already had
been sold.
By additions, improvements and
alterations the productive power of
the mill hts been virtually doubled.
It also has been linked up 'in an
organization with three other coast
plants at Los Angeles, Vancouver,
B. C, and Vancouver, Wash.
New York, July 21 m New York
newspapers today quote Senator
Thomas J. Walsh, democrat, Monta-
as expressing the opinion that
anti-third term resolution will
be adopted by the seventieth con
gress, and that President Coolldge
will decline a renommauon in uei-
erence to the third term tradition
Even should Coolldge be renom
inated, which Senator Walsh be-
lieves improbable, the Montana sen
ator believes he will be aeieaiea.
Senator Walsh said he had no
doubt that Senator LaFollette would
again Introduce his third term reso
lution, which failed oi action uy uie
late congress.
I assume." said waisn, -mat n
will receive the full democratic vote
in the senate, and with Senator La
Follette sponsoring It, and Senator
Moses, of New Hampshire, and some
other republican members openly
against the third term, I have no
doubt it will be adopted."
Senator Walsh predicted the
tariff and the trusts would be the
leading Issues in the 1928 campaign
and that prohibition would not
figure as a national issue, although
it may become dominant In some
congressional districts.
WINS $10,000 IN
SPITE OF DANCING
Portland, Or., July 21. P) Mrs.
Myrtle Hixon, who, witnesses testi
fied, was a clever dancer despite
the fact that her foot was so badly
Injured In a street car accident last
January that she brought suit to
recover $40,000 from the Portland
Electric Power company, was award
ed one-fourth that sum by a jury
in Circuit Judge Robert Tuckers
court today.
Mrs. Hlxson's defense was that she
had been "doped" by one of the in
vestigators who was posing as an
admirer and after eating candy giv
en her, she forgot about pain in
her leg and was able to walk and
dance
BLOOD PRESSURE
INJURES CHANGE
OF EX-CHAMP
New York, July 21. Jack
Dempsey has high blood pressure
and Is not the superman of four
years ago, when he knocked out Luis
Firpo, but he will enter the ring to
night against Jack Sharkey "as
physically fit as any human being
could be at 32."
This was the finding of Dr. Will
iam Walker, official physician for
the state athletic commission, to
day, after the former champion had
completely upset advance expecta
tions by scaling a pound and a half
less than his young rival in tonight's
15-round battle at the Yankee, sta
dium.
Dempsey weighed 194,6 when he
stepped on the scales at Madison
Square Garden. He did not meet
Sharkey, as had been expected. The
Boston sailor, arriving a little later,
weighed 190.
Examination of both fighters by
Dr. Walker revealed them in prime
physical condtiion, but the physician
pointed to a sharp contract between
the Dempsey of today and the
fighter who knocked out Luis Firpo
four years ago, here.
FIT FOR 32 YEARS
"Dempsey is as physically lit as
any human being could be at da.
said Dr. Walker, "but he is not the
superman of four years ago. He is
no longer the bundle of nerves that
faced Firpo. The most obvious change
Above, left Jack Dempsey. who
aspire? to regain lost ring glory;
rightTex llickard, promoter, Be
lowJack Sharkey, who Is favored
to win chance at Gene Tunney's
heavyweight title.
ARCHDUKE OF
AUSTRIA WORKS
AS FILM EXTRA
(Continued on paee rovfiii
D'AUTREIONT
KING FERDINAND'S
FUNERAL ON SUNDAY
Portland, Or., July 21. W) Gov
ernmental rewards for the arrest
and subsequent conviction of Hugh
Ray and Roy DcAutremont, cannot
be paid until three months have
elapsed following conviction of the
murdering trio, C. B. Welter, postal
inspector for the Portland district,
said today in answer to a query.
As a result, the $0000 reward of'
fered by the government for the ar
rest and conviction of the three
youths, who confessed to the mur
der of three Southern Pacific train
men In the Siskiyou tunnel October
1. 1023. will not become available
for two months. They were sen
tenced June 23.
The Southern Pacific railway re
ward of $2500, the American Rail
way Express company reward
$900, and the state of Oregon
ward of $1500, however, can now
be claimed, it was assumed.
Paris. July 21. (tP) A Havas from
Bucharest says that the burial of
King Ferdinand has been postponed
from Saturday until Sunday, In or
der to permit the rural population
to reach the capital to pay homage
to the late king.
SMOOT DECLARES
FOR CUT IN TAXES
Journal Service
to Picture Every
Detail of Fight
Punch by punch, move by
move, and round by round
every detail of tonight's battle
between Jack Dempsey and
Jack Sharkey In the Yankee
Stadium, New York, for a
chance at Gene Tunney's
heavyweight crown, will be
relayed by megaphone to the
crowd In front of the Capi
tal Journal office,
..lint off the direct AsMocIated
Press leased wire loop from
the ringside the story of the
biggest sporting event of the
year will also be posted on
the bulletin board for the
more deliberate perusal of the
fans.
The bulletin service will
start promptly at 5:00 o'clock,
Salem time. Telephone In
quiries on the progress of the
event will be answered from
that hour on over two tele
phones, 81 and 82.
Denver! Colo., July 21. in1) Re
duction of at least $300,000,000
federal taxes next yr, repeal of
the federal inheritance tax and
special session of congress in Octo-
her. are forecast by United States
Senator Reed Smoot of utan, a Den
ver visitor.
He expressed a hope that congress
will reduce the corporation tax l
per cent, which he said would mean
about $250,000,000. "Alter tnai,
said, "we will take as many of the
discriminatory items as we can.
These, he explained, are certain
theater, automobile and semi-luxury
taxes.
COURTNEY DELAYS
FLIGHT 'TILL SUNDA
Dublin, July 31 IIP) Captain
Prank T. Courtney, British aviator,
who is preparing for a trans-Atlantic
flight to New York, will not at-
tempt the flight before Sunday,
says a message received from him
at the Baldonncl air station In
County Dublin,
DOCTORS SAY
BOTH IN PINK
OF CONDITION
Dempsey Tips Scales at
194 1-2, with Opponent
Weighing 196 Pounds
Weather Ideal for Fight
Attracting More than
80,000 Spectators
New York, July 21 0P) JacSt
Dempsey scaled 194, pounds at the
official weighing-ln before the New
York state athletic commission at
Madison Square Garden this after
noon. Jack Sharkey appeared for his
turn on the scales a few minutes
after Dempsey left. The Boston
boxer scaled 196. The two did noc
meet, Dempsey leaving the Garden
before Sharkey arrived.
Physicians making the lormai
medical examinations, required by
the boxing commission, pronounced
both men in perfect condition.
Demnsev was in good spirits aa
he disrobed for the weight test aud
declared himself "right."
Sharkey, the confident, told news
papermen again, "I will certainly,
knock Dempsey out."
WEATHER PERFECT
New York. July 21 Prover
bial "Tex Rickard weather" for the
embroglio between Dempsey and
Sharkey tonight, was promised this
forenoon. The sun Drone mrougn
a dense fog at 8 a. m., and the
weather sharps predicted tne noraes
of fight fans would be able to en
joy the encounter without worrying
about the weather.
Rickard has had uncanny luck
with the elements for his open air
shows except the memorable de
luge In Philadelphia, last Septem
ber, when Dempsey lost his crown
ODDS FAVOR SHARKEY
New York, July 21 (P More
than 80.000 persons from all over
the United States, will gather in
the Yankee Stadium tonight to
watch Jack Dempsey, of Los An
geles, stake his hitting power
against the youth, speed and ring
Hollywood, Cal., July 21 Pi-
Archduke Leopold of Austria, today
began his work as a film extra to
raise funds for his return to Hun
gary, and duel to which he chal
lenges Count Laszlo Szechenyl, Hun
garian minister to the United States,
The duel is sought by Leopold to
avenge an insult which he said the
minister hurled at him two weeks
ago when embassy declared "tact
less," the archdukes request that
it handle a loan which he was at
tempting to float. Count Szechenyl
is now in Europe. The archduke
wants to follow him to fight the
duel. But it Is a case, according to I
his secretary, Alfred Ncuhardt, of
the spirit being willing, even eager,
but the pocketbook woefully weak.
Beginning his day at 8 o clock in
the morning, tthe noble actor re
hearsed and toiled and perspired
before the camera all day. His
faithful secretary mopped the royal
brow after each camera shot.
Since the bit played by the arch
duke, that of a German army cap
tain called for a crap of hair, and
the archduke, although young, is
approaching baldness, a toupee was
pasted upon his pate.
One difficulty arose. The arch-
due was required to salute a gen
eral. Leopold could not register the
correct salute.
"Excuse please," he apologized. "I
have never salute. In my country
everybody they salute me, but I do
not salute."
lCut,:iniif-,fi on HhiteStxi
Washington, July 21 P) Rail
roads were conditionally authoriz
ed by the interstate commerce com
mission today to establish norm
and south steamship competition,
and at the same time to maintain
higher rates to intermediate points.
The permission will allow classi
fied rates between San Francisco
and Portland to be fixed at 80
cents for fifth class shipments with
proportionate amounts for inter
mediate classes. At the same time.
the roads mav not charee to Inter
mediate points between Portland
San Francisco rates that are more
than 100 per cent in excess of the
rates to the seaports.
On commodities between the Cali
fornia port and the Oregon Jort, the
roads were permitted to make
rate 10 cents per 100 pounds higher
than rates made by standard steam
er lines. On the commodity traffic,
the commission likewise ruled that
the Intermediate points must be giv
en rates that are not exceeded by
the port rates by more than 104
per cent.
Salem Banking Assets
Show 10 Percent Gain
Over Figures of 1926
Banking assets in the city of Sa
lem have increased 10.4 per cent
since July 1, 1926. according to the
report on financial conditions In
the city for the quarter which end
ed July 1, 1027.
Total assets of Salems four
banks a year ago were $11,733,641
compared to the $12,954,836
shown this year, a net Increase of
$1,221,195 This increase Is exclusive
of the First National bank building
which is not the property of the
bank itself
More than 25 per cent of the in
crease was due to the jump In sav
ings accounts which totaled $5,
436,727 this year against the $5,
179,382 in 1920, a gain of $.160,850,
Back bank in the city reported a
gain in this classitlcation ranging
from $37,000 to $236,000.
Checking deposits showed a net
increase ot $257,345 but the gain
was not Uniterm, one banking house
reporting a loss of $70,000 which
however, was picked up in savings
accounts, a more desirable type ot
asset for any financial institution.
Other gains were covered In the
improvements in banking houses,
official deposits by state, county
and city and other minor fluctua
tions. Authorized reports Indicate that
the agricultural situation In the
Marion-Polk district is improving
rapidly A large percentage ol the
increases shown in each of the four
Elht)