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About The American. (Central Point, Or.) 1928-1936 | View Entire Issue (Jan. 23, 1936)
THURSDAY, JANUARY 23. 1«8« T h « A M H M C A ’ t , C H T T O A I. PO IN T, ORPXKW WOULD PROTECT W a s h in g to n S n a p Shots BANKING FIELD IN RURAL AREAS American Barkers Association Announces Purpose to Com* b a t Return of Excessive Number of Banks CITES LAX CHARTER POLICIES IN THE PAST Finds a C h ie f Cause o f Bank Failures W a s T o o M a n y Banks— Ex is tin g S o u n d Ba nks Servin g C o m m u nit ie s Well She Tells Them How to Park Official Washington has not yet recovered from its surprise— in soma cases, almost amazement— at the calmness with which the nation as a whole received news o f the A A A 's invalidation. The calamity howlers, as usual, had forecast that in the event o f an adverse decision there would be im mediate demands from one and all that the Supr. me Court and the Constitution be junked, Are these prophets' faces red now! There was, naturally, a limited amount o f hysteria like that which NEW YORK. — Existing sound follow ed the demise o f NRA. But banks, especially the small banks In that was only the first reaction. A f the rural districts which are serving ter folks had time to think things their communities well, should be pro over, the general attitude was: tected from any return of the over banked local conditions caused by "W h a t of it? That doesn't ruin the former lax chartering policies, which country.” were mainly to blame foi the unfavor Washington students of the public able failure record of the past, says the offered two explanations: Bconomic Policy Commission of the mind American Bankers Association. This is First, that the AAA, like the NRA brought out In a report covering an in did, was waning in popularity; sec vestigation by the commission of bank ond, that the people believed the failures and public policies in charter American government structure to ing banks. ! be one o f checks and balances, each "The Commission’s study gives an Impressive revelation of how great a | o f which must be kept in its place part mistaken public policies in the i or the whole edifice would fall. chartering of banks played In creating The final analysis was that a year the unsound tanking structure which ago circumstances called the atten- finally collapsed with the Bank Holiday ; tion o f the people to the Supreme in March 1933," Robert V. Fleming, j Court and the Constitution and they president of the association, says in a i decided then, as they did again this foreword. "Over-production of banks, literally jyear, that the protection offered by by thousands, over many years in the I the two should be maintained. Dallas, site of the Texas Centennial she tours the streets, the Exposition'! face of insistent warnings not only Some significant facts emphasized Exposition next vear. has installed ambassador of good-will, to explain to from bankers and others who recog parkin: meters on its main downtown nized the danger, but even more so from in Capital corridor and office talks streets For a nickel in the slot, mo out-of-town motorists just how tha the mounting records of bank failures I were these: The country’s forefa torists may leave their car heside the meters work A meter, indicated by the arrow, themselves, is clearly shown to have thers established a three-way divi meter for periods from 211 minutes to one hour, a c c o r d in g to the tim e can be seen directly behind the horse, constituted as a whole one of the great sion o f power— legislative, execu marked on each meter An additional which, incidentally, is Texas, famous est single economic errors in the history t i v e aud judical. They gave the exe nickel extends the period. “ y e llo w p o n y ” ow n ed by Captain of the Nation ” Clarice Mnllenkamp of the Exposi Leonard Pack, head of the Exposi cutive as much power as two thirds A Recurrence Feared o f the legislative, through the veto. tion Rangerettes Is shown above as tion's Texas Ranger squad. He refers to fears of a recurrence of And they set up the Supreme Court! over-banking recently expressed by to prevent misuse o f both legislative it voted unanimously that those who at Butte Falls, Friday night between Federal banking authorities, to the had paid illegal processing taxes Butte Falls and Sams Valley, and executive powers. powers given the Federal Deposit In under AAA had a right to recover Mr. W aiter Grant recently sold They made the court free from po surance Corporation by the provision of four of his heifers to a California the Banking Act of 1935 over the admis litical influence by giving the jus them. buyer. sion of banks to membership in the in tices appointive instead of elective surance fund, to strengthened state office, and by putting no time limit Mrs. J. • B. Rush and Elaine are laws and to the policies now being fol upon their services. expected to return home soon from lowed by both national and state super And they gave the court no power California where they have been visory authorities aimed to safeguard to invade the citizens' rights. The A 4-H club has been formed by visiting. the nation against over-banking. Miss "But sound laws and conscientious court, fo r example, may not burden the children at school with Mr. Seigmiller visited his daughter officials are not of themselves always the individual with taxes nor reward Elva Adams as their leader. A cook- and son-in-law, Mr. and Mrs. E. D. sufficient safeguard in any field of our him with appropriations it has no ing class which enrolled both boys Stallings Sunday afternoon. complex national life unless they have patronage to dispense; it cannot call and girls was organized. Last W ed- Mrs. W alter Grant is again busy the active support of public opinion,” out the army and navy for its pro- nesday some of the students made , . . .. with the Grange Play, "M am m a’s he adds. “ It is the purpose of the Ameri can Bankers Association to aid In mar- tection. All it can do is interpret the some clever paper weight out of put-1 Baby Boy,” which she is directing. laws and rule out those which in- ty _. ___ . , .. , shaiing public opinion in support of , . . . . „ ’ • The cast are going to put the play Mr. and Mra. Homer Martin and on again in Gold Hill, having shown both national and state supervisory au vade the sacred rights o f others. In thorities in their efforts to strengthen sum and substance, the courts have famiiy o f Reese Creek, Mr. and Mrs. It recently at Sams Valley. power to protect others, but n ot| Me,yfn Martln and baby and Mr. and protect the banking structure.” The Economic Policy Commission themselves. I Milton Sanderson all of Medford summarizes its findings in part as fol I were visitors at the C. C. Sanderson lows: There was some talk, too, about “ The facts show a distinct causal re the divided AAA opinion. Historians : home. lationship between the over-chartering reminded, however, o f the court's at ! Mrs. Blanche Sweet and Desmond of banks and the abnormal bank fail titude in the past. It ruled. 5 to 4. w e T 3 shoppers in Medford Monday, Oregon bas a noteworthy record ure conditions that prevailed from 1920 in respect to changes In farm ow ner Mr- r)<*lbert Mon* ° ld madp hl" re' to the bank holiday in 1933. It is desir that Congress could not forbid the. ship, according to L. U. Breithaupt, shipment in interstae commerce o f ^u' ar monthly visit at the Hill place able that studies be made on the basis agricultural extension economist at of experience to develop standards gov any goods, agriculture or industrial, Sunday and at the Seegmiller \V il- Government erning the number of banks or the vol in the production o f which persons *‘am® Ran(,h Monday to test thei. Oregon State college. statistics show that for more than ume of bank capital which can be suc under 16 had a hand. A few weeks dalry cattle. cessfully operated. later, it accepted its own verdict and Mr. Bischoff was taken to Med- two years Oregon has led all states "Such a study would embrace the held. 8 to 1, that Congress could not ford Saturday to receive medical aid, question 'hether banking facilities can tax out o f existence those who did , having suffered with abcessed gums best be supplied to the rural districts by after having his teeth pulled. small unit banks or by branches from ship such goods. Such seemed the court's attitude Morris Frink, Dick and Joe Rush, banks of substantial capital in larger this centers. Existing sound banks, which on AAA. It held first, 6 to 3, that and Marie Seegmiller, all o i are serving their communities well the AAA was unconstitutional; then district went to a basketball game should be protected from any return of the over-banked local conditions caused in the past by lax chartering policies. B ea g le Record of Farm Ownership Praised Banking Officials Queried “ An Inquiry among state bank com missioners shows a preponderant opin ion against increasing materially the number of banks, coupled with the fact that present laws give them sufficient discretion to prevent a repetition of the grave errors of the past. "Under prevailing abnormal condi tions, with the Federal Government ex tensively exercising loaning powers in competition with the banks, and with Industry itself so largely supplied with funds as to render it to a great degree Independent of normal bank borrowing, the banking structure even with its present reduced numbers, finds it diffi cult to support Its existing capital In vestment and operating personnel. "These are new factors. Intensifying the need for highly prudent and re- atrictlva chartering policies. We urge the retirement of the Federal Govern ment from the banking business as rapidly as the return of normal busi ness conditions warrant." Conference on Banking NEW YORK. — An eastern states conference on banking service will be held by the American Bankers Asso ciation in Philadelphia January 23 and 24 as a part of the organization's na tionwide progran on banking develop ment, it bas been announced. Robert V. Fleming, president of the association, will preside over the meet ings. It Is stated that this conference will be tbe first of several to be held In various parts of the country presenting a program tbe details of wbicb are now in the course of preparation. Tbe general topic of the conference will embrace tbs managerial, legisla tive and operative problems confronted by ail classes of banks. An outstanding phase of tbe meetings will be the de velopment of plans tor promoting a general better public understanding in regard to bank functions and policies. t M C I THREW in the Union in percentage of volun plaintiff on file herein within four tary transfers and has had the low 1( 4) weeks from 2nd day of January est percentage o f forced transfers of 1936, the date o f the first publica any northwest state, Breithaupt tion o f this summons. You are further notified that if | says. you fail to answer the complaint Figues show that during the year within said time that plaintiff will 'ending March 1, 1935. 5.28 per cent apply to the Court for the relief de of the farms in Oregon changed manded in said complaint, a succinct statement of which is as follow s: hands -2.84 per cent betug volun Adjudging that there is due the tary sales and trades and 2.44 per plaintiff from the defendant the cent owing to tax, mortgage and r e sum of Thirty-five (»3 5 .0 0 ) Dollars, lated defaults. The number of vo- together with the costs and disburse | luntary transfers has increased ments to be taxed in said action, and that the monies belonging to you 1 steadily during the past three years, and now in the hands o f the Sheriff while forced transfers have decreas of Jackson County under a garnish ment issued out o f this cause by the ed rapidly. j Commenting on the reasons for plaintiff be paid over to the plaintiff j these Brentls, iMr. Breithaupt said by said Sheriff in partial satisfaction of said Judgment. | that the Increase in farm price from The date o f the order for the ser j the 1932 level o f 46 per cent o f tho vice of this summons by publication | 1926-1930 average to 55 in 1933, 60 is the 31st day of December, 1935. Date o f first Publication: 2nd day in 1934 and 68 per cent in 1935, of January 1936. had a good deal to do with improv NEFF & FROHNMAYER ing the farm situation. He also at Attorneys for Plaintiff Cooley-Theatre Building, tributed much of the enviable re- Medford, Oregon. | cord in regard to farm ownership changes, however, to the very effec- , live work of the voluntary farm debt adjustment com m ittee appointed by the governor for the purpose o f a»- ! slating farm debtors and their cre d it o r s in making debt adjustment and refinancing arrangements. "L td by O. M. Plummer as chair- 1 man o f the state comm ittee, and with the assistance o f the county agricultural agents, these county committees have been quietly at work for more than three years giv ing advice and help to all who asked for their aid,” Breithaupt said "W ithout compensation, they have rendered a service o f greater impor tance than is generally realized.” j Legal Notices 020213 NOTICE FOR PUBLICATION Ih-partment o f the Interior U. S. Land O ffice at Roseburg, Ore gon, January 14, 10:444 NOTICE is hereby given that Earl H. Hart, of Central Point, Oregon, who, on June 14th, 1932, made Homestead entry, Serial, No. 020215 for Lot 10, Sort ion 15, Township 36 b ., Range 2 W ., W illamette Meri dian, has filed notice o f intention to make final three year Proof, to es tablish claim to the laud above de scribed, before Victor A. Tengwald, U. S. Commissioner, at Medford, Ore., on the 26th day o f February, 1936. Claimant names as witnesses: John Mace, o f Central Point, Ore gon; John Holst, o f Gold Hill, Ore gon; Joe Collins, o f Central Point, Oregon; William Penniger, of Cen tral Point, Oregon. GEORGE FINLEY, Register. Jan 16, 23, 30. Feb. 6, 13. SUMMONS IN THE JUSTICE COURT FOR THE STATE OF OREGON, DISTRICT OF MEDFORD, COUNTY OF JACKSON. VIOLA S. DETOURS, Plaintiff, vs. JOHN SPEARS, Defendant. To John Spears the above named Defendant, IN THE NAME OF THE STATE OF OREGON: You are hereby sum-1 moned and required to appear In the above entitled Court and cause i and answer the complaint of the | 010400 NOTICE FOR PUHI.lt ATION Department o f the Interior U. S. Land O ffice at Rotteburg, Ore gon, January lO, 10:4«. NOTICE is hereby given that Lee Thomas Totten o f Butte Falls, Ore gon, who, on February 28, 1931, made Homestead Entry, Serial. No. 019490, for the SE*4 of SWVa of Section 31, Township 34S, Range 2E.. Willamette Meridian, has filed notice o f intention to make Final Three-year Proof, to establish claim to the land above described, before J. S. Smith. Town Recorder, at Butte Falls, Oregon, on the 20th day of February, 1936. Claimant names as witnesses: N. I). Stoddard, of Butte Falls, Oregon; E. A. Hildreth, o f Butte Falls, Ore gon; John Cadzow, of Butte Falls, Oregon; James E. Hughes o f Butte Falls, Oregon. GEORGE FINLEY Register. Jan. 16, 23, 30. Feb. 6, 13. Try an A d in The American SEE Dr. H. ?. Coleman 4th Floor Medford Bldg. About New Special Rates on Chiro practic, Physotherapy and all methods o f natural treatments Also new method o f treatment for Nervousness, Blood Pres sure, Kidney Trouble, and Poor Circulation. It is safe- sure and sensible. Please do not telephone for rates, as different cases re quire different rates. Free consultation and examin ation Parents! One child in every four of school age suffers from defective vision! I H /y we Pw,g .; dip woTyer^nor we usr THURSDAY IK) t o O V t t y f f E Q t h a m K s g i v i n g / M ' (See Answer Next W eek) TI m - trimmings for your table are as Important as the trimmings for the roast - • • Don't risk a yellowed, ding) table cloth. Send your finest llm-ns •«> us for rarr-ful, painstaking service . . . OUR DAMP WASH SERVICE 52c for a 13-lb. bundle Each additional pound 4c Every piece sweet and clean— ready to Iron Ans. to last week— I'ink snow fel' in Durango, t'olo-, Jan. 1.4. 1(4.42 --- (Strange A» It Seems, |»age I» .) Don't lei your child read or study in p oor light. It causes eye- strain. headaches, and near-sightednesa. Y ou owe it to your child and to every memher o f the fam ily to have your lighting checked l>et one o f our light ing experts rail on you with a sight meter anti tell you just hov* much light you should have. ' 0 i M e d fo r d D o m e s tic L a u n d r y ;lo NORTH III V U ts ID fl M l “ UKRTIFIEP HA NATATION— GUARD YOUR PHONE I « « HEALTH ” Tbe California Oregon Power Company w