The Hermiston herald. (Hermiston, Or.) 19??-1984, February 14, 1929, Image 3

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    EOmMMTOK, OSBGOJT.
BANKERS IN NATIONAL MOVE FOR ~ '
UNIFORM FINANCIAL PRACTICES
♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ rouiinuiily known, were first lutroouceo from the date of the first publica­ ana which said mortgage Is of >'ec-
♦
♦ by Gem ge Bryan Brutnmell and tbe tion of this summons, and you fail ord at page 66, in Book 77, Record
vest itself Is only nn evolution ot the
*
FARM REMINDERS
♦
$ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ $ ♦ ♦ ♦
The good dairy farmer appreciates
the herd bull and treata him with
tbe consideration to which he is en­
W ould Promote Greater Consistency Among A ll the State titled.
If he la sentenced to the
darkest corner or the barn eithe
Laws in Respect to Banking Conditions— Uniform ­
confinement he will not do well. A
ity of Practice and Understanding W ill Make
well beeded bull pen with plenty of
for Greater Convenience, Efficiency
light and fresh air la a minimum es­
sential, while a grass paddock n ad­
and Safety for A ll Business.
dition will pay good dividends and
simplify the chore of keeping the
By 8. / . HIGH
herd sire.
President State Bank Division, American Bankers Association
APID interchange of business and the quick transporta­
Knew On« W ard
tion of goods in the United States, coupled with almost in­
Company from out of the city was
being entertained In an East side
stantaneous means of inter-communication by telegraph, tele­
phone and wireless, have welded the coun­ borne. George, the visitors’ son, age
try into an economic unit. The nation is not, three, and Raymond, the hosts' nephew,
in a business sense, conducting its affairs in age three, developed quite a friend­
When at last the guests were
water-tight compartments, as in a measure ship.
to leave, the host asked the
it did in the days of slow travel and remote obliged
of the street In which they lived
places, but styles, methods, commodities name
They replied aa to the street and also
and business practices flow freely today in proceeded to spell i t George, deelr
all directions. Therefore it is desirable ing to imitate his elders asked: “What
that finance, trade and industry throughout Is your last name and how Is it spelled.
the country operate along generally uni­ Raymond T’
Kay was acquainted with the spell
form or at least consistent lines, so that a
contract or an agreement or obligation in Ing of just one word, so consequently
connection with business transactions shall he was slightly baffled by George's
mean virtually the same thing in all parts of question. Soon, however, be smiled
replied, “Why, my name Is Rny
the country. Particularly necessary in this nnd
Goodman, s-t-o-p.”—Indianapolis
connection is the establishment of uniform rnond
News,
financial and banking practices so as to fa­
cilitate the flow of trade along accepted and
understood lines.
Dress Suit’s Origin
Banking in the United States is recog­ The Haberdasher says: “As far as
nized as a semi-public type of business and is therefore sub- we know, the formal dress suit of to
ect to laws to define the scope and character of its activities. day is the natural evolution of the
hese laws at present set up great diversity of conditions dress coat of the CoDtluenta! era and
R
«nder which banking is conducted In
various parts of the country since
they come from both state and fed­
eral authorities. The national banks
are all chartered by till federal gov­
ernment and therefore operate on the
same lines in every state of the
Union,' but there is no such regu­
larity in respect to the conditions
under which the state banks chartered
by the respective forty-eight states
must conduct their business. All state
banking codes, while they have simi­
larities, also have many great dissimi­
larities in respect both to the na­
tional bank laws and the banking laws
1 covering state bank operations in oth­
er Jurisdictions.
Banksrs Move for Uniform Laws
The State Bank Division of the
American Bankers Association, which
latter includes in its membership
banks of all descriptions throughout
the country subject to all the varia­
tions of state and federal banking
laws, is committed to the effort to
bring about greater consistency and
uniformity among the statutes of all
these various jurisdictions. This body
Is conducting a vigorous nation-wide
campaign urging that active steps be
taken to secure greater co-ordination
In banking legislation, more equitable
conditions and more uniformly effi­
cient public supervision of banks in
the several states.
The organisation Is particularly con­
cerned with fostering this movement
to bring about more uniformly desir­
able conditions throughout the United
States In respect to the public super­
vision of banking institutions by the
state banking departments. It is on
record as favoring the policy that the
important office of state bank commis­
sioner should be kept as free from
entangling partisan politics as the ju­
diciary Itself and should be complete­
ly detached from all other functions
of state government.
It is also on record as favoring the
policy that the tenure of office of state
bank commissioners should be made
more Secure and lasting than is now
the case In many state jurisdictions
and that this Important public officer
be granted sufficient compensation
and discretionary power so that the
oflloe shall attract and retain the serv­
ices of men of outstanding executive
ability and successful banking expe­
rience.
It is aleo a part- of this policy that
the bank commissioner’s ability to
serve Well should be strengthened by
providing him with adequate forces of
bank examiners, selected on the basis
of merit from men having the requi­
site qualifications of honesty, ability,
training and banking knowledge to
carry but the duties of their offices on
the Mghèst plane of usefulness to the
public as well as to banking.
The Trend of State Laws
e Association’s State Bank Dtvl-
___ kgs recently concluded a nation­
wide fufvey of state banking legisla­
tion and eondltidhs and In general has
discovered s deffelte trend along tbs
following Unes:
There ,1s e dtettoct tendency among
the elates to raise the minimum capi­
tal required for hanking institutions
-------
- ^ao to give the bank
Or the banking boards
as to tbe granting of char-
tor sew banks, thus enabling
to nee discretion as to the need
er deetrebllity of added baokieg tacflt-
tiee s f the ttneee of the organiser* to
heffhtng lletd. IB this ccnr
nsny states are creating
boards to act in aa advisory
with the state beak commie-
also
of the keek o
their terms of
n power to appoint
sad examfaers so ss to bond
te tores to carry oat their
duties. An tmpor
at the
bank commissioners In some states 1»
found In laws giving them complete
charge of Insolvent banks and tbeli
liquidation as distinguished from more
costly liquidation through the courts.
In the Public Interest
Distinctly in the public Interest are
laws prohibiting or limiting an office)
or director of a bank from borrowing
from his own bank unless his col
lateral security is approved by a ma
jorlty of tbe board of directors of tbe
bank. Also there Is recent legislation
noted providing for closer supervision
and regulation of building add loan
associations, credit unions, finance
companies and private banks.
In some states measures have been
enacted broadening the field for in
vestment of fund« of savings bank*
and trust companies, which have ma
terlally enhanced the service that
these Institutions can render, partlen
larly In the way of co-operation with
their customers In personal financial
management Another type of lepta
lation, Important especially to bank
Ing In rlew of the frequent efforts to
defraud banks. Is that which makes
the issuance of worthless checks s
misdemeanor with specific penalties. ‘
The State Bank Division of the
American Bankers Association an
dorses In the fullest degree In prlnd
pie the development of banking laws
along the foregoing lines and Is active
ly engaged In fostering the spread ol
such legislation wherever Its services
are considered useful both to benkfhg
and to the public. Uniformly sound
banking Institutions and practice*, to
gether with common methods and nn
derstanding, win materially add to thf
convenience, efficiency and safety ol
business In serving the well-being ol
the public In all parts of the nation
especially in those transactions lnvolv
lug dealing* between different local!
ties.
before. Black came in when fancy
colors went out, and found its place
In formal dress apparel as It did In
ordinary day wear. The dress coat,
from a designer's angle, has changed
but little from similar garments worn
150 years ago. Long trousers, as is
^eX<X>±<<rfftgS5>X>«
Aa acre of alfalfe tor ovary cow h
Hqward County, Iowa,” la the slogs?
by the cou
there after
hundred thousand dollars go out o
their county last «tatet for food.
O -Q O O -
CONVENTION
Sixth District
Amerian Legion and
HERMISTON, ORE., FEB. 15, ’29
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3 P. M. to 6 P. M.-Business Meeting
For Legionnaires, Legion Hall.
For Auxiliary, Baptist Church
AMERICA LEAOS THE
WORLD IN SAVINGS
The pest year saw the greatest
gains In savings in a single twelve
month ever recorded In the United
States, bringing the total seringa de
posits In banks to over *28,400,066,00<
on June 80, 1928, held in more that
63,000,000 Individual accounts. It It
reported by tbe American Bankers As
soclatlon. These are the biggest flg
ores in this field shown by any conn
try In the wortd.
These figures are Indicative of prof
perlty more general than any tlm<
since the business depression of 1920
tbe report declares. Only three atatsi
failed to show a gala and the 1921
volume of savings constituted an la
crease of more than *2,227,000,00<
above the 1927 figure. The gain pet
Inhabitant for 1928 over 1127 was *1’
and the gain In number ef strings de
posltors wee 2,490,07*. ea Inerea*
Of 6.2% as against a growth In th<
population of the country of 1.2%.
Tbe gain In aavlngs per lnhabitan
to Wew England sad the Middle At
lantlc states over the previous yea
was *2*. These groups of states, wit!
29.9% of the population of (he Unite«
States sad 62.8% of the total saving:
deposits, have the largest eerings rat«
*4*1 per inhabitant, of aay area to th
worlA The per capita savings for tb<
United States aa a whole this yea
stands at *217 as compared with (22
last year.
waistcoat which previous generations to so appear and answer, for want of Mortgages for Umatila County, in
thereof the plaintiff will apply to the State of Oregon, and covers said
had favored;“
said court for the relief prayed for liana ,n d which said decree will fur­
and demanded in its complaint on file ther provide that said land shall be
NOTICE TO CREDITORS
in the above entitled matter, to-wit: sold In the manner provided by law
IN THE COUNTY COURT OF THE
A decree that the plaintiff have for the sale of real property, on exe­
STATE OF OREGON FOR
and^recover herein the sum of cution, and the proceeds of such sale
UMATILLA COUNTY
*2287.68, with interest thoreoa at tbe applied in satisfaction of said sums,
In tbe Matter of the Estate
rate of 4 per cent per annum from attorneys fees, Interest, costs and
of
November 28, 1926, until paid; the disbursements; and which said de­
Mary E. Hughes, Deceased.
further
sum ot *250 attorneys’ fees cree will further provide that any
Notice is hereby given that the
and
tbe
costs and disbursements of party to this suit may bid upon and
undersigned has been appointed ad­
this
suit,
and foreclosing the mort­ purchase said land at tbe tale there­
ministrator of the estate of Mary E.
gage
herein
described, covering the of; that immediately after such sale
Hughes, deceased, and has qualified
the Sheriff shall place the purchaser
aa the law directs. AU persons hav­ following described land, to-wit:
of such land in possession thereof,
ing claims against said estate are re­
The North Half of the Southeast and which said decree will further
Quarter of the Northwest Quarter provide that any claim, right or in­
quired to present the same to me at
tbe office of W. J. Warner, my at­
of Section Nine Township Four terest the defendants, or either of
torney, in Hermiston, Oregon, with
North Range Twenty-nine East of them, may have in aaid land, is sub­
proper vouchers within six months
Willamette Meridian. Beginning sequent in time and inferior in right
from the date hereof.
at the Northwest corner of the to the interest, right and lien o f »
Southwest Quarter of the North­
Dated this 31st day of January,
plaintiff, under such c.ortgase, and
east Quarter of Section Nine,
1929.
will further bar defendants, and each
Township Four,
GWYN L. HUGHES,
North
Range
of them, and any and all persona
Twenty-nine, east of Wlllain-stte
22-5tc
Administrator.
claiming by, through or under them,
Meridian, said corner being 1333
or either of them, of all right, title
feet
South
of
the
Quarter
Section
IN THE CIRCUIT COURT OF THE
and Interest, claim, Hen or demand
corner
on
the
North
line
of
said
STATE OF OREGON FOR
in, to, or upon said land, and each
Section Nine, running thence East
UMATILLA COUNTY.
and every part and parcel thereof,
along
the
East
and
West
center
State of Oregon, represented and act­
excepting the statutory right of re­
line of the Northeast Quarter of
ing by the World War Veterans
demption.
said Section Nine 802.5 feet;
State Aid Commission, Plaintiff,
This summons is served upon you
thence
South
317
feet
to
the
Nor­
vs.
therly right of way line of the Fur­ by publcation thereof, once a week,
Robert Stricker, unmarried, sole heir
nish Ditch, thence Southwesterly for four successive weeks, in the Her­
of Ernest Stricker, deceased, and
along said right of way line to the miston Herald, by order of Honorable
Thos. J. Keating, administrator of
North and South center line of said I. M. Schannep, Judge of the County
the Estate of Ernest Stricker do-
Section
Nine; thence North along Court for Umatilla County, State of
ceased, Defendants.
said North and South center line Oregon, which said order was mads
SUMMONS Equity No. 4857.
769 feet to the place of beginn­ and dated the 14th day of January,
To Robert Stricker, unmarried, one
ing, containing 10 acres, more or 1929, and the date of the first pub­
of the above named defendants:
lication of this summons is the 17th
less.
IN THE NAME OF THE STATE
day of January, 1929.
and in which said mortgage, Ernest
OF OREGON:
H. J. WARNER,
You are hereby required to appear Stricker, unmarried is mortgagor and
Attorney for Plaintiff.
and answer the complaint filed the State of Ofegon, represented and
P. O. Address, Pendleton, Oregon
against you in the above entitled acting by the World War Veterans'
(20-5tc)
court and cause within four weeks State Aid Commission is mortgagee,
6 P. M. to 7 P. M.-Army Banquet at Legion Hall
Legion Auxiliary Banquet at Baptist Church
a
7:30 P. M. to 9 P.‘ M.—Open Meeting
PUBLIC INVITED
A 100 Per Cent Snappy Program and Address by
BEN S. FISHER, State Commander
and other guests.
9 P. M. TO 1 A. M.
PUBLIC DANCE
Rose-Grey Ballroom Six Piece Orchestra
FREE TO LEGION MEMBERS
AUDITORIUM