THt «HMMÁN COUNTY JOURNAL, MORO. ORÉGON, FRIDAY, JULY 80, »34 I
FASI FOUR
1
’**-«*?
Manifold Ways iri Which thé
Batiks Are Serving the Nation
■ÉMM
Sunday where she will visit with of July, 1934, pursuant to a de-
Lná Personó in the Current News
1
HandEn” Millions of Transactions Daily for Individuals!
Corporations and State and National Governments—The
Structure Strengthened and Deserving of Public Faith
COURT NEWS
1
The Banking Structure Strengthened
The banking structure as it is to
day has been greatly strengthened
and the process of strengthening
■till goes on. Banking Is not a closed
science. The banking system which
we have had was not good enough,
and I earnestly believe that an able
and non partisan commission should
be set op tQ make ■ study of our
numerous banking laws to the end
that a properly correlated banking
system might be worked out and
submitted to the next Congress.
A good system would include rigid
requirements as to management. In
telligent and Impartial supervision
and. I” due time, unification of super
vision. Such a system, composed of
banks adequately capitalized, cap
ably managed and conscientiously
supervised would eliminate any pos
sibility of a recurrence of what has
happened In the past four years.
The temporary Federal deposit In
surance plan under which deposits
In banks up to 32,500 for each se
count are insured has been in effect
for six months and has proven a
potent factor In restoring confidence.
Only two small banks out of over
fourteen thousand holding member
ship in the fund have failed dur
ing this six months’ period. The
temporary plan has been extended
very wisely for a year, and the
amount of the Insured deposit has
been increased to 15.000, thus in
suring in full ovir 98% in number
of the depositors in the banks.
Hoarded money is returning io the
banks and deposits are showing a
vast Increase. Banks everywhere
■ re super-liquid, meaning that they
have an unusually heavy proportion
of their deposits in cash. There are
two kinds of unemployment In this
country — unemployment of men
and unemployment o' dollars. These
men and these dollars must be put to
work. Banks 1n strong and highly
liquid condition are prepared and
determined to do their proper part
in putting money to work.
Requisite* for Granta of Bank Credit
good loans, nor has the interest rate
ever been so low.
A Return of Normal Lending
Bunks aro badly needing loans for
revenue purposes, and now that con
fidence in banks has been largely
restored they are naturally return
F-.
ing to a more normal lending policy.
Before the bank holiday the con
fidence cf the people was shattered.
The thought uppermost in the minds
of depositors was the safety of their
funds. Withdrawals from banks be
came increasingly heavy in general.
Under such circumstances the bank
er, mindful of his primary respon
N.
and Cornwall
Ruosev el to
1— New Roosevelt international bridge across the
sibility to his depositors, was more
View of the Thames at
Ont.,
which
was
dedicated
by
Secretary
of
Wqr
Dern
and
Governor
Lord
Bessborough
concerned In the collection of loans
Barnes, England, when the river was at its lowest level ince 1921, due to the drouth. —Rev. pr. Paul Press
than in the making of new loans.
of St. Louis, Mo., president of the Evangelical Synod o North America (left), shakin? hands with Rev. Dr
The result was a severe contraction
II. J. Christman of Dayton, Ohio, president of the ¡h ' 1 ri.æd Church In the United States, as they consum
of credit. For thia the banker should
mated the organic union of these two denoHrtuntldTis ' ' i 1 the Reformed and Evangelical Church.
not b? blamed. He simply performed
Y
his manifest duty.
Bankers at this time ar^-very
and he is reported to be doing
properly Viewing the ¿redit needs of
well.
Mrs. Tuel returned Tuesday
business with serious and sympa
Mrs.
Dell
Hull accompanied them
thetic con »’deration. Applicants
to
Portland.
for loans are not always familiar
with the rules governing bank credit
Miss Kunhausen from Glen
Frank and Veda Reed are at- mbuth.
and constructive and Interested help
wood, Wash-, Mr.'~Richelaerfer
ending the Epworth League In
on the part of the banker will bring
Martha Hastings and Laura and Mrs. Watkins and son were
titute at Suttle Lake.
about the making of many additional
Wells and R- G- Gow werfe in dinner guests at the Evans home
loans, and without doing violence to ’ The Wasco library has recel-! Portland Friday returning home Friday-
any principle of good banking.'
red a number of new books to be Saturday-
Miss Elsie Rogers was a guest
Certainly no one would advocate
>aned out at a charge of 5 cents
Mrs. Ida Hetzler from Portland of the Fred Fortners Sunday.
the making of unsound loans by
'«r week per book-
is a guest for the summer of the
banks. The creation of a large vol
Mrs- Frank Knox- and children
ume of unsound loans would not
Mrs. Dick Schunke and son Spencer family.
and’ Mrs. J. P. Yates left for
only weaken the banks—It would eft Sunday to visit her mothfer
Florence Armswortihy spent the Portland where they will spend a
prolong the depression and wipe out at Hood River returning Friday-
week
end in The Dalles.
week-. Dorothy and Donna Knox
some of the gains already made. It
Mr-
and
Mrs-
Ed
Feldman
mot-
is to be earnestly hoped that no
Mrs. Jack Sheets and children will spend their vacation at the
>red
to
Hood
River
Sunday
on
a
banker will yield under the pressure
are visiting her parents at Stan camp fire girls camp at Bull Run-
of bis desire for earnings, or for picnic.
Mr. and Mrs. Loyis Scholl
field-
any other reason, and make loans of
motored
to Tlhi© Dalles Friday.
Cliff Fridley is in Portland to
Mra. E. W McQuillan was a
the wrong sort.
?o through a clinic in search of visitor in Portland Friday and * Marion Tuel is visiting her
There are many needs for credit
>etter health-
returned with her daughter Janet grandmother, Mrs- Dixon in Port-
of kinds which are not within the
Mary Barbour from Portland is ; and- Grace Hughes Wednesday- , land
province of commercial banks to
meet. Likewise there are many .he guest of her mother, Mrs. W
Wheat has been coming in toi Mr- and Mrs. Floyo’ Root were
types of credit, but there are also 3. Tate for several weeks.
the warehouse the yield being very in Portland Wednesday to attend
many types of credit facilities avail
<Mrs. Kenneth Woous and chil- light but of good quality weigh- a wedding of friends-
able—enough. It would seem, to meet Iren will move to Longview Wn-' ing 1'42 to 145 pounds to the sack-J
Mr. and Mrs- Heber Woods of
the requirements of al) classes of Albere Mr. Woods is employed-
Mr- and Mrs. M. G- Tuel left Los Angeles were guests at the
worthy borrowers.
Views from the Wasco Community
The Duty of Every Banker
It is clearly th? duty of every
banker In the country to perform
certain services. The most impor-
tant of these are:
1 To afford perfect safety for
deposits.
2. To grant credit to those who
deserve it.
In the matter of credits the public
must in fairness remember that
commercial banks are not lending
their own money, but the money of
their depositors, represented very
largely by the earnings and savings
of the people. The people who own
these deposits have accumulated
them through years of labor and
sacrifice and In many cases the de
posit represents their all. These
depositors have the right to call for
their money at anv time, or atmost
on short notice. Deposits constitute
a sacred trust.
There are certain basic principles
In sound banking that must be held
onto even In this period of change,
but the progressive banker must be
responsive to changing conditions
and he must be active in seeking
proper opportunities to meet the
sound needs of his customers.
Repeated assurance has been
given by the Administration that
there Is no desire on its part to
continue government lending a mo
ment longer than is necessary and
that at the earliest possible lime
the government will gladly give way
to the bunks and other lending in
stitutions This, of course, is as It
should be ano we ere all earnestly
looking forward to the time when
private Initiative and enterprise
shall have recovered its vitality suf
ficiently to throw government
crutches away.
Numerous bank failures have ere-
ated in the minds of many a grossly
exaggerated Idea as to the losses of
depositors in closed banks. The rec
ord indicates that depositors in
banks which closed in the past three
years will realize on an average
about 65c on the dollar. That would
mean a loss of 35% It has been es
timated that during tho depression
the average value of Investments In
stocks lost about 90%; bonds simi
larly declined approximately 60%
and commodities 65%.
Deposits In sound banks continued
to be worth 100% throughout the
depression and 90% of the bank de
posits of the country were not af
fected.
That brings me to the all im
portant question of the granting of
credit by banks. Two things are
necessary to increase bank credit:
1st. The banks must be liquid and
confident In their own strength.
Banker* Deserve Confidence
2nd. Busines-i men must further
The country can have full confi
lay their fears and regain confi
dence to the point where they will dence In the Integrity and compe
tence of the bankers of the country,
daro to think end plan ahead.
Tholrtt requisite (■ accomplished. (put of ihe lessons of the last few
The Mcond 11 In process. Bank years has come experience that will
rr?*”» *111 increase and money will be valuable to the banker and to his
MO to »u.k
c
f” business men community. He can he counted on
get over their dialuchu4;iun to bor to show a proper appreciation of his
row and this will be when they be responsibilities and obligations and
gin to see profits within their reach. to take bls placo among those who
In past depressions the real move ■ re making earnest and unselfish ef
ment of the expansion In bank credit fort to promote recovery. He la not
’ has always come after general busi Infallible, but with every power that
ness recovery got under way and Ilea within him I believe be may be
not before. The-number of good depended upon to fulfill hia duty as a
credit risks Is Increasing dally. Not custodian of the people’s money, ■■
la ray time have good borrowers a dispenser of credit and as a God
bees so warmly welcomed at banks fearing American Cltlien imbued
with a sincere respect and regard
as they sfs today. Never before
has there been such competition for fpr the common good.
t L
t
!
।
(Continued from page one)
By F rancis marion law , **
President American Banker* Association
rpHE bunks of the nation provide
the machinery through which
dally many millions of checks
P'-SS
and drafts, ag-
gregatlng hun
dreds of mil-
' lions of dollars.
- The hanks
are largely fi
nancing t h e
Federal
Gov
ernment In its
Recovery Pro-
gram, involv
ing the great
est peace-time
expo nditures
ever
known.
I \W
Likewise the
banks are iar¿ v rnanclng the cur-
rant credit needs of stat?«, counties,
cities, public schools and other po
litical sub-divisions, all. of which
have intimately to do with the dally
affairs of all of the people.
Each day banks throughout the
country are making hundreds of
thousands of new loans and they are
rettewlng and extending old loans
for the accommodation of a vast
number of borrowers, those bor
rower» being individuals, corpora
tions and partnerships and their
loans being inclden» to agriculture,
’
industry and trade everywhere.
The banks, through their trust de-
’ partments, are continuing the work
which they have faithfully carried
on throughout the depression and
are protecting trust fends placed in
their care against the worst shrink
age of values ever known Included
In this activity is the -service the
banks are performing in connection
with administering the affairs of
widows and orphans.
The banks, through the medium of
their savings and thrift deposit de
partments, are furnishing safety for
the accumulations of many millions
of people and on ibis class of de
posits reasonable interest is paid.
The officers of banks are unstint
edly and unselfishly giving advice
and counsel to the people of their
communities,, thereby to a consider
able extent guiding their dally finan-
cial and fiscal affairs during this
most difficult period of disturbance.
I creo entered in said Court, July
friend’s.
1 5th, 1934, In a suit wherin The
Mrs- Afton McIntyre and baby Oregon- Washington Jqint Stock
ara doing nicely and are expected
Land Bank of Portland, Oregon,
home soon-
and
James Harvey
Mrsi Warner was a guest at
-he .Sargent home until the War- j
era left Sunday for the home of
Mrs- Warner’s mb the r at Mon-
?
i &
for Portland Saturday so that Mr Harry Proudfoot home Saturday-
Tuel could enter a hospital for an J Mis- H- D. Proudfoot had as
operation for goiter- The operation her guest this week her sister,
was preformed Monday morning Mrs- G. W. Smith, who is retur-
ning to _ her home in San Diego
after a trip east-
The house guests of Mrs- Louis
il ildebrand this week were her
nephew Donald Turner- from Port
land and Mr. and IMrs. L- B- Bla-
kney of Oregon City
Earl Dutton who has been in
The Dalles hospital recovering
from an appendicitis operation re
turned to his home in Fossil this
dish and sprinkle with-cinnamon week
’ * •
Add apkicots and lemon juice-
Mrs. Joe Hildebrand was in the
Add finely cut marshmallows. Mix
remaining materials as for cus Dallas Monday to visit her bro
tard and’ add to pudding. Bake^her who is ill in a hospital-
slowly for about ome hour- Top; Mrs. Bob Gow returned to Port-
with meringue and brown in tl'.e iand and Mr. Gow will leave in
oven or with whipped cream-
• a few weeks-
Apricot MIoo Cream
Mr- andMlfi^ G G Wolcott of
Tuscon, Ariz, wi.l visit her mot
1-2 cups sugar
her, Mrs. Charles Everett for sev
1 2-2 tsp- vanilla
eral weeks.
3 cup apricot pulp and juice
3 cups rich milk
Mrs. Jack Ramey and daughter
1 cup heavy cream
wane visitors in The Dalles Mon
1 tbsp, lemon juice
day.
1-4 tsp. salt-
Thyra Fields lefd for Fossil
Mix apricots with sugar and stir
freeze add remaining ingredients
and mix thoroughly. Freeze us-
ing 3 parts crushed ice to 1 of
salt- When very stiff “ remove pad- UPDEGRAFF & PEPPER
die and pack in salt and ice-
Attorneys At Law
Apricot Box Cake
Cut an even slice from the top
Moro, Oregon
of a sponge cpk?, using a vary
sharp knife. Hollow out the low-
J
er part of the cake and/lhialf fill
with fresh or stewed apricots that
have been sweetened and drained When Your Shoes need repan
of all syrup- Coverapricots with
send them to
a thick layer of sweetened whip
ped cream- Replace the top slice
of cake and spread quickly with
REPAIRING
a cake icing made by stirring 1 GOOD SHQE
THE DA LOT'»
cup confectioners sugar in 1 un 04 Second St
beaten egg white and tbsp- sy
rup drained from apricots to a
smooth consistency. When ready
to serve, cut the iced cake^ into
squares or rectangles- If desir
'FARMFCSr
AUTO’"
ed the cake may be served with
vanilla ice cream Ipiled on top-
COUNCIL
l&UM
Tha season for fresh apricots
is comparatively short nd a few
suggestions- for their use are
timely. Apricots are not only del-
icious in flavor but (Have real
food value as they carry both
mineral elements and vitamins.
They are especially rich in cop
per and iron and thus contribute
to the blood building process.
There a.o literally scores of
ways to serve apricots- Apricots
are delicious sliced and served
with cream and sugar- They may
bo eaten alone at the beginning
or end of the meal, or combined
with breakfast cereals- A favor
ite salad is made of ¡halved or
sliced apricots with a generous
sprinkling of grated cheese .and
mits for garnish-
For variety
they may bo used with cottage
or cream cheese and with either
French or fruit dressing-
Fresh apricots, maae into a
sauce and served with vanilla ice
cream is delicious- The sauce is
made by cooking for five minutes
thesliced fruit with a half cup of
sugar and half cup of water for
cach| cup of fruit usied-
Other ways of serving apricots
are:
*
.W
Apricot Marshmallow Pudding
1 cup coarse bread crumbs
1 cup apricot pulp
2 tsp. lemon juice
2 cups milk
3 egg yolks
1-4 tsp- cinnamon
1-2 cup sugar
6 marshmallow
Put the crumbs into a baking
WERNMARK>
Truck Insurance
Do NOT put off
Insuring truck or car
PYROIL
Lubricating Process
Saves Gas
Saves Oil
Saves Wear
Saves
/
its Cost
three times
“Ask the man who uses it,
Sold in Sherman County by:
Avery Martin, Wasco
Geo. B. Moon,
“ - ' McKean & Searcy
Geo. C. Wilde,
"
Moro
Pyroil Sales Agency
Wasco
: ,
:
:
. Oregon
See
Geo. B. Moon
Wasco, Ore,
Agent
WASCO MARKET
RED & WHITE STORE
Groceries—Meats- Fre^h
Fruits and Vegetables in
Season.
National Hospital Association
Road employees contribution 2.13
State Indus. Accident Com>
Road employees contribution 3.42
G eq. Wilde, Road supplles-
machinery parts . .
23.55
Howard-Cooper Corp.
Road supplies . . .
135.91
Uj),'on Oil Company
Road supplies . . .
24.76
Hal White, county engineer 5.20
E. L. Weld road laborer
46.56
j
Shell Oil ’Company, Road
supplies .............. .. .. . ..
15.50
Standard Oil. Company,
Road supplies ................
11.82
Sherman Gar. & Machinery Co.
Road supplies................
153.23
COUNTY’
COURT
PROCEED
INGS FOR JULY TERM
July 5, 1934
is plaintiff,
Ferrell and County of Shjerman,
Corporation of the
a Municipal
State of Oregon, are defendant«,
said wrf.t being directed to me
commanding me to make sale of
the real property herinafter des
cribed, I will on Saturday, the
11th day of August,
1934, at
10:00 o’clock am* at the front
door of the Court House of Sher
man County, tn the City of Moro,
State of Oregon, offer for stile
and proceed to sell to the high
est bidder for cash in hand the
following described real propierty,
situate in Sherman County, State
of Oregon, tp-wit;
Southeast Quarter of thæ
Northwest Quarter (SE % of
NWÍ4 ) and East Half of the
Southeast Quarter (El/^ of
SE %) of Section Seven (7)
and the West Half of the
Northeast Quarter (Wl¿ of
NEU) and the West Half
of the Southwest Quarter
(WH of SWU) of Section
County Tax
Collector’s turnover
Eight
(8), Town»blp One(l)
report on Delinquent Taxes col
North,
•
Rapge Nineteen (19)
lected for period endng June 30,
East of Willamette Meridian,
1934, accepted and ordered filed.
County Tax Cofisctor’s turnover ' and that certain piece or par
cel lying and being in said
report on current taxes collected
section, Township and Range
for period ending June 30, 1934,
and more particularly des
accepted and ordered filed.
cribed as follows: Beginning
County Treasurer Van -Gilder’s
at a point , 80 rods East of
bond for $20,000.00 presented to
the Northwest corner of the
the County Court and accepted,'
Soilthwest Quarter of »aid-
Coroner’s report on death of W.
Section
Eight (8), Township
O. Smith of Kent, accepted and
One
(1)
North, Range Nine-
ordered filed.
The County Treasurer was auth
orized and -directed to issue to the
Fair ■> Board of Sherman County
a check for all 1933 ¿.‘racing fund”
received from the State of Oregon
for fair purposes wlthÄ» the» co-
unty.
IN
THE CIRCUIT COURT OF
THE STATE
OREGON
THE COUNTY OF SHERMAN
THE OREGON • WASHINGTON
JOINT STOCK LAND BANK of
Portland, Oregon, a corporation.
Plaintiff,
versus
JAMES HARVEY FERRELL and
COUNTY of SHERMAS’, a mun
icipal Corporation Of the State of
Oregon,
•
Defendants,
NOTJICE OF SHERIFF'S
SALE
By virtue of the writ of exe
cution and order of sale duly is
sued out of the Circuit Court of
the State of Otegon for the Cou
nty of Sherman, on the 7th day
te°n (19) East * of the Wil-
Meri dian,
thence
lamette
East 7 0 rods; thence South
thence West 7 0
160 rods;
rods; thence Nort^i 160 rods
to the place of beginning.
containing all told 350 acres
more or less
to satisfy the sum of Four Thou-
Hand
Six Hundred Seventy-Two
and 66-100 DoJIars
(14.672166)
with interest thereon at the rate
of six per cent (6) per annum,
from the 5th day of July, 1934;
and the'' farther sum of
One
Thousand Two Hundred E;Rhty-
Two and 03-100 Dollars($l,282.0l)
with interest thereon at the rate
of eight per cent (8) per annum
from the 5th day of July,1934;
and the further sum of $500.00
attorney’s fees; together with the
ccsts of said suit taxee at $10.40.
and the costs of and upon said
■writ.
Sheriff
ÇôwJ R- H- McKean!
Mrs. B. E. Hailey, AsstMgr. I
¡ i
• • 1
______________ _ _______________ __ s
Retailers of
Crown Mills FLOUR
?
V
g
I
GRAIN, FEED, INSURANCE ■
Mitchel, Lewis & Staver Co. ■
Farm Implements
■Wasco
Oregonl
Snow Maid Flour
Mill Feed of all
Kinds
$6.25
per bbl.
Chick Feeds
&
4
High Grade Family
Patent
Egg Mash
Flour
Now is thetimeto think
of GRAIN INSURANCE
YES
We Buy Wheat
DEAL with YOUR LOCAL
Sherman Cooperative Grain Growers
WASCO. OREGON
Your Patronage Solicited
Hugh Chrisman
of Sherman- County,
State of Oregon