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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (Dec. 15, 1956)
THE CAPITAL JOURNAL Section 1 Page 3 Phone Men r"v - v Salem, Oregon, Saturday, December, 15, 1956 3 1 a B n itt- -r m '" a fill Iff T' I Kenneth E. Barker, top, form er wire chief at Eugene, is the new wire chief for Salem'i tele phone exchange. It was announc ed Friday. Elmer E. Buschert, bottom, came from Portland as chief frameman In Salem. Ap pointments were announced by Elmer A. Berglund, Salem man ager for PT & T. Open Sundays 11 A.M. to 8 P.M. - THE FAMOUS -"aw WESTINGHOUSE - w AUTOMATIC fOV DAM reg. A 91 kV I Hurtle 1 R.GrabenliorstR Picked to Head Realty Board Richard Grabenhorst will be come president of the Salem Board of Realtors next January. This was indicated Friday noon when a nom inating committee headed by Rudy Calaba placed Grabcnhorst's name' before the board. No other was' designated. Other candidates for various of fices who will be considered at vice-president, Chester Nelson; di rectors, Ben Colbath, Ron Jones, Al Watts and Ted Morrison, (two to be. elected) ; , appraisal board, Bert Stevens and O. V. Hume; secretary, John Black, and Treas urer, Allen Jones. The board devoted its weekly luncheon program Friday at the Senator to a discussion of the so called "tight money" now in ef fect in financial circles. A four-man panel consisting of three bankers and a savings and loan association representative agreed that during the year sav ings accounts had not increased to any great extent. The men who answered questions were Leo Pk. II S National: Robert Hynd'. First National; L. C. Pfeif- fer, Western hecurity. ana nuuen Powell, First Federal Savings and Loan. ! Permission to raise the rate of interest on savings accounts to a maximum of 3 per cent, will have little effect, the "experts" believe. All expressed doubt that the cur rent rates of 2 per cent would be changed. Powell said his concern expected to continue the 3 per cent rate at least during the first half of 1957, although keen interest is being shown in what other lending insti tutions arc doing. Page divulged that banks are re quired to maintain reserves of 18 per cent in the commercial deposit department and 7 per cent on sav ings accounts. This means, he added, that more liquid funds must be kept on hand than was the case a few years ago. I HURRY! f quantities! 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