PAGE FOUR
IF ICHABOD
ORANE
HAD A FLASHLIGHT
By JOHN a LONSDALE
P re.id .n t American Bankers
Association
lin g ALL remember the story of Icha-
” bod Crane and the beadles» hnrse-
There was the dark form by the
side of the road—
thundering hoofs
on tho Sleepy Hol
low highway —
nnd Ichabod flee
ing In confused
terror before thia
terrible monster.
If Ichabod had
only known that
his hobgoblin was
an Inventive rival
disguised with a
a pumpkin head,
he would have
John G. Lonsdale
had a good laugh
and gone on with the business of van
quishing his competitor.
What Ichabod really needed was a
modern flashlight. Thon he would
have discovered the trickery at once.
Many business men need the flashlight
of rnalyrls to nncovor tho hobgoblins
in their business and then they might
sit back and laugh at their rivals who
hesitate to Investigate and learn the
truth.
At this time, when business and
banking are making strenuous efforts
to have a clear vision ahead, it is espe
cially important that the power of re
search and analysis be employed to
their fullest extent. When those twin
brothers of good management have
been pressed Into service in all fields,
1 am confident we shall see a further
lessening of periods of stress. How
ever, I believe business In general has
learned the valuable lesson that any
prosperity that Is not leavened with a
little adversity would not scorn basi
cally safe or sound.
THE HEBMISTOB
LEGION AND AUXILIARY HOLD
MEETINGS JUNE 19 AND 28
Officers to be Nominated for Coming
Year and Delegate* for State Meet
to be Chosen July 3.
The American Legion held their
regular m eeting Thursday, June 19.
at the Legion hall w ith Post Com
mander Harry Kelley in charge. He
started the members present clean
ing up the building by using the old
laundry building as a store room and
fixin g up a sm aller room for a m eet
ing place. The next m eeting w ill be
hold Thursday evening, July 3. when
officers w ill be nom inated for the
coming year and delegates w ill be
chosen for the state meet which will
be held at Baker A ugust 14, 18 and
16. All members are urged to be
present at this m eeting.
The Legion A uxiliary held thoir
regular m eeting Thursday evening
in the club rooms when regular bus
iness was conducted after which
sclal hur was enjoyed. At the close
of the m eeting tee cream and colk-
les were enjoyed by the large num
ber In attendance. The next m eet
ing w ill be held Thursday, July 10,
at the home f Mrs. H. E. Shesely
when the members w ill make a
T H E NEW
FORD
PHAETO N
RESERVE SYSTEM'S
DIVIDENDS ANALYZED
Bankers Find Increased Pay
ments to Member Banks Would
Be Small Inducement
Various proposals that member
banks In the Federal Reserve System
should participate more largely In Its
net earnings through an increase in
the dividend rate above the present
fixed 8 per cent "would bo a very
small financial inducement" to them.
It is declared In a recent study of this
subject by the Economic Policy Com
mission of the American Hankers As
sociation. This in shown, the commis
sion says, by a theoretical forecast, on
the basis of the past six years, of ad
ditional earnings that would be dis
bursed to member banks dnring the
next six years under two plans Intro
duced in b.lls before the United States
Senate.
“The Pletcher bill provides that
Federal Reserve Bank earnings, after
present 0 per cent dividends to mem
bers sad completion of a 100 per cent
surplus, should all be distributed as
extra dividends to the stockholder
hanks," the report says. "If the earn
ings of each Federal Reserve hank
were distributed among Its own mem
bers there would be no extra divi
dends In the Boston, New York, Phlla-
adelphia, Cleveland, Chicago and San
Francisco districts dnring the next
six years, but the other six Federal
Reserve Banks would pay annual ex
tras at the following ratos: Richmond,
1.08 per cent: Atlnnta, 4.09 per cent;
St. Louts, 8.50 per cent; Minneapolis,
8.81 per cent; Kansas City, 8.48 per
oent; Dellas, 4.8S per cent.
“If the earnings wero pooled and
paid out to all members in all districts
each member would receive an aver
age annual extra dividend o f .78 per
c e n t Under this plan no franchise
tax as now would be paid by the Fed
eral Reserve Banks to the Federal
Government.
Another Plan Analyzed
“The Glaaa bill would provide th a t
after present 8 per cent dividends,
one-half the remainder should be paid
to member banks os an extra divi
dend with tho recldna going to sur
plus and Federal Government ns fran
chise tax. The average annual extras
to members would be a , follows: Bos
ton District, 8.81 per cent; New York.
.48 per cert; Philadelphia, 8.08 per
cent; Cleveland, 8.09 per cent; Rich
mond. 8.28 per cent; Atlanta, 4.67 per
cent; Chicago, 3.20 per cent; St. Louis,
8.08 per oent; Minneapolis, 4.78 per
cent; Kansas City, 8.74 per oent; Dal
las, 8.81 per cent; San Francisco, 1.87
per cent.
“If these extra funds were pooled the
reenit would be an extra average an
nual dividend of 1.78 per cent tor each
member. Under thia plan the system
would still pay as now an annual fran
chise tax. amounting to 81,941,998 on
the average."
By way of concrete Instance, the
report says. a member bank having
capital and surplus of 8800,000, there
for« bolding Federal Reserve Bank
stock amounting to 88,000 on which It
Is reonhtng 8280 under the present 8
per rent dividend arrangement, would
with the addition of each 1 per cent
to the dividend rate receive an addl
tlonal income of 880 a year.
“Tf each member hank will figure
out tor itself the dollar and cents gain
it would enjoy wo are confident It
will be agreed that the gains are small
as against the economic disadvantages
which can he pointed out," It con-
•ludea.
T h u rs d a y , J u ly 3, 1930
HERALD. HERMISTON, OREGON.
~T
bedside of an old friend who Is quite now in Bly, Oregon,
ill.
Doctor Reid returned Sunday ) Joe R eeves and two sons of Her-
afternoon w hile Mrs. Reid remained miston were Sunday visitors at the
Ben Spencer home.
In Portland.
who
has
Grandma McFarland,
I Clarence Pow ell underwent
operation for ulcers of the stomach been w ith her son. A. E. McFarland
Saturday afternoon at Hood River all w inter, has returned to her horau
hoepital. His father, John Powell, in Grants Pass.
Miss Sara Rlx la spending her
who waa w ith him at the time, re
summer vacation In Portland.
turned to his home Sunday,
P hyllis Long of Ione Is visitin g her
) Mr. and Mrs. Dobson have sold
the Orange and Black cafe and are cousin, Josephne Connell.
feather tick which waa donated them to Pendleton Friday.
tee under 12 years of age at the gym-
into pillow s for the sun parlor at th e | Mr. and Mrs. Ray Chapman and nasium Friday evening.
Veterans' hospital in Portland.
.son. Donald, motored to The Dallea. Mrs. Jenny Bailey left for W alla
Thursday returning Saturday.
|W alla Sunday where she w ill spend
Irene Fromdahl. who has been vis the summer.
Itlng relatives In North Dakota, re-
Mrs. Ir .in Chapman returned Sun-
HAVE YOU BEEN TOLD
turned to her home Thursday.
day from a visit with her parents
That beenuse one gets seasick Is not ( Mr an(j Mrs. Francis Hanson have in Portland
a certain sign that one will be a vlc- recently moved into Mrs. V elgs little | Dwight Mahoney and Mrs. Laura
tim of airsickness?
house which was formerly occupied Todd motored to Kennewick Sunday,
by Mias Dora Reeves and Miss Rosa ' p , and Mrs. Alexander Reid were
That one of I he |M>lnts most emplia
called to Portland Saturday to the
slxed In giving |>ros|>ectB a demonstra Rtcco.
Lorine Lash left Saturday for a)
tion o f Hny ulrptane Is the low land
v isit with relatives in and near Port
log sjieed?
land.
That one of the speclnl stunts oi
Mrs. D. C. Mahoney spent Friday
British army flyers Is picking up In Portland.
messages strung upon a string be
Mr. and Mrs. Bly and son Stanley I
tween rifle butte held by ground were Spokane visitors Saturday.
troops?
Harold Johnson and b is mother
of Condon visited at the Harry Jones |
AMERICANISMS
home Saturday morning.
W ill Amon of Kennewick spemt ;
Street Pray des.
Saturday at the D. C. Mahoney home.
Francis Stephens and Dan Foord
Athaletlc Stadyuma.
motored to W alla W alla Saturday j
where they visited w ith W ilbur H an
Whispering Baretones.
son and returned home Sunday.
REDHEADS
Companyunut Merrhlge.
Mr. and Mrs. D. C. Chapman and '
The impression that redheaded
fam ily spent the week-end in S p o -,
people are brighter than the general
kane.
run is widespread. A New York res
Subscribe for The Herald— 12.00
Misses Ruth and Naomi Brownell !
taurant lately dismissed all of its old
staff of waitresses and now employs
of Portland are v isitin g w ith friends j
only redheaded girls, 55 in all. The
and relatives in Umatilla.
management reports that the service
Mrs. Fred Knudsen visited Mrs.
had been greatly improved. Another
Doesn't Look. His Years
Buttcrwood In Spokane
Saturday.
New Yorker, a manufacturer of
specialties, for years has employed
She reports that Mrs. Butterwood
only redhaired men and girls, several
hopes to be home in tw o weeks under
hundred of them.
care of a nurse.
Red hair is said by scientists to in
Mr. and Mrs. J. Marshall have re
dicate a strain of Scandinavian blood.
The Scandinavians have been rovers
cen tly moved into the Spinning
for thoqsands of years, and have ieft
house formerly occupied by Mr. and
their strain in the blood of the people
Mra. R. L. Skeen.
of many lands. 1 am inclined to agree
Mr. and Mrs. Fred Knudsen re
with those who maintain that red hair
indicates a quick intelligence and a
turned Thursday from a few weeks
high degree of nervous energy.
visit in the east.
Mr. and Mrs. Steve Hortsch and
GAMBLING
fam ily returned from Mount Angel
Two brothers named Dougherty
Sunday and have rented the D. R.
bought for $1 a ticket in a Canadian
Jlnawnell house form erly occupto't
sweepstakes on the Derby horserace.
y Mr. and Mrs. Francis Hanson.
They won the grand prize of $179,000,
went to Canada and collected the
Mr. and Mrs. Harry Rodenbough
money. If they are ordinary human
and Mrs. Wm. Sw itzler motored to
beings, their "luck” will probably ruin
Kennewick Saturday evening where
them. If they have more than the
they attended a show.
An eight and one-half pound son
was born to Mr. and Mrs. Ursel H iatt
Saturday at the Hermiston hospital.
Mother and baby are doing fine.
The chldren’s day program Sunday
was quite a success though there 1
were not many cut
for Sunday
school.
A plan has been adopted
wrereby all those attending for six !
HERMISTON
consecutive Sundays w ill be given a
picnic. It is hoped that this w ill be
Thomas A. Edison, returning from
,n incentive for more regular at- f
• Winter in Florida, looks ten year:
younger than his 84 years and is plan
tendance.
x
ning additional work. “A man must
Posters and tickets are now being
keep busy,” he says.
distributed for the Tom Thumb Wed- |
ding which Is to be given by the kdd
average of horse sense, it may be the
foundation of a stable fortune.
“Easy come, easy go," is a rule to
whi.li there are few exceptions 1
have known many successful gamblers,
but only one or two who were able to
keep their money after they had won
it. One family prominent in New York
society owes its foundation to the
old Louisiana Lottery. After “clean
ing up” in New Orleans the founder
-of the family had sense enough to in
vest his winnings in property which
has steadily increased in value, and
his grandchildren hobnob with the
Astors and the Vanderbilts. But for
every such ins/tnee as that, 1 could
point out a dozen where winning
something for nothing has literally
ruined men who might have amounted
to something if they had to work for
every dollar they got
NAM ES
The newly-discovered planet will be
named Pluto, following the custom of
giving classical names, such as Mars,
Venus, Neptune, Saturn, etc., to the
heavenly bodies. That is a more sen
sible system than prevails in most parts
of this country in giving names to
towns and places.
A classical-minded official of New
York’s early days gave names out of
ancient Greece and Rome to the un
settled townships, whence we have
such' cities as Syracuse, Rome, Utica,
Troy, Niobe, Ilion, Ithaca, Carthage,
Pompey and many others whose names
mean nothing whatever in America.
The early settlers lacked imagina
tion. Otherwise we would not find in
one county in New York the towns of
Chatham, North Chatham, East Chat
ham, Chatham Centfe and Old Chat
ham. Portland, Oregon, got its name
because the two men who founded the
settlement tossed a coin to see which
should name it. One came from
Boston, the other from Portland,
Maine, and the Portland man won.
And St. Petersburg, Florida, got its
name because the man who first settled
there was a Russian.
PIONEERING
More than four-fifths of Alaska is
as yet unexplored and unmapped. A
group of young American engineers
will start soon surveying a highway
through the Alaskan wilderness.
I talked the other night with a young
German nobleman who was about to
start for Peru- in an airplane, with
American engineers, to investigate the
practicability of a railroad over the
Andes to open up new land for Ger
man colonization. The same day I
met an American engineer about to
start for Abyssinia, to build a dam
there.
The world is still full of adventure
for those who have the same sort of
pioneering spirit which actuated the
forefathers of us who live in the
United States today. It will be cen
turies before the whole world has been
fully explored or even partly settled.
WATERWAYS
There is a revival of interest in the
project to connect the Great Lakes
with the sea by a ship canal. Some
interests want to make it an inter
national route, using the St. Lawrence
River. Others advocate the taking
over of the Erie Canal, which connects
Buffalo, on Lake Erie, with Albany, on
the Hudson River. Army engineers
have reported that a 25-foot channel or
even a deeper one, all the way from
New York to- Buffalo, is entirely
feasible.
The opposition comes mostly from
the railroads The Erie Canal was built
before there were any railroads; other
wise it never would have been built. It
made New York the dominant seaport
through which commerce to and froto
the newly-opened West flowed.
MACMARR stores
A REAL
B A R G A IN
AT
‘4 4 0
Bumper« and «pat*
•Ira a x ira .>
T hr new Ford P haeton is a
real bargain at $440 b eca n n
o f its beauty o f lin e and color,
safety, com fort, speed, power,
quick acceleration, ease o f
control, econom y, reliability
nnd long life. H ere is every*
thing yon need in a m otot
car at an unusually low price.
CALL OR TELEPHONE
FOR DEMONSTRATION
Rohrman Motor
Co.
OUR SHOP IS MODERN
OUR SERVICE WILL PLEASE
Phone 571
Hermiston, Oregon
Stone’s Division
PHONE 241
UMATILLA ITEMS
Mr. and Mrs. W. R iggins of Port
land spent Tuesday with Mrs. R ig
gins sister, Mrs. Harry Jonea.
Mr. and Mra. E. McNabb motored
to Pendleton W ednesday. They re
turned Saturday evening. Raymond
McNabb, who has been In the Em an
uel hospital In Portland for the past
two weeks Is allowed up from his
bed each day In a wheel chair. The
report is that he w ill be out of the
hospital In about a week.
Mrs. J. E. Berwlak returned Thurs
day from a visit w ith her father at
W illow Creek.
Word has been received here that
Charlie Bennett, formerly of Uma
tilla, has been married.
Mr. and Mrs. Harvey Carlyle who
have been residing In Spokane, re
turned to Umatilla Thursday morn
lng. Mr. Carlyle has his old Job.
Mrs. A. E. McFarland and E ffie
Bulock spent a few days In Portland
last week, having gone to the home
o f thcjlr i|a.jent8 for thqfr golden
w edding annlvc. ary.
The Ladles Aid held their regular
bi-m onthly inoetlng Thursday after
noon at the Community hall. Lunch
eon waa served by Mrs. Frank Clark
and Mrs. Jack Cherry.
Mrs. Theresa Bullard has gone to
Th< Dalles for her summer vacation.
Mr. and Mrs. Harry Jones motored
It w ill urprtee you how much
we can save you during the year
on your shoe bill. All we ask la
that you bring your shoes to us
for repairing in ample tim e so we
can do a good job.
SHOES DYED
ALL COLORS
BOW MAN
SHOE SHOP
SBÂSONM
NOW— OUR JULY JUBILEE!
THIS “RED HOT" FOOD EVENT IS CHUCK FULL OF VALUES
DEMONSTRATING OUR ABILITY TO SAVE YOU MONEY. PROFIT BY THE LOW PRICES BY
COMING INTO OUR STORES AND CELEBRATING OUR JUBILEE FOOD EVENT WITH US.
S A T U R D A Y A N D M O N D A Y SA LE
CHOCOLATE- -Ghinu Je'Ji’«
LARD
Ground sw eetened Chocolate and
Cocoa.
3 Lb. Can .......................
ARMOUR'S STAR
Pure— Fresh
98c
8 Lb. Pall
$1.33
CATSUP
DEL MONTE or SNYDER’S
COBH MEAL
PUFFED WHEAT
Sperry’s W hite or Yellow
The Food Shot from Guns
29c
9 Lb. Bag ......
SHRIMP
WHEATŒS
Fancy Dry Pack
For summer salads
EAST
RTFBCTITR MAY RR TO I
RRTURM LUOT M T . >1, I« » «
Redwced faresati partsefaaetiRbetalstop
overs. Fine traust modern eaaipmenl;
splendid srrrice, scenic routa. Short side
trips enable yon to visit —
RIOM NATIONAL PARK
ORANO CANTON NATIONALPARK
BRYCX CANTON NAT8ONJU. PARK
TKLLOWrrONB NAT8ONJ8L PARK
ORANO TETON NATIONAL PARK
R M K T MOUNTAIN N A f L PARK
U N IO N
P A C IF IC
BOUND TR IP TO
of . n v cr
<?.»•
O M A H A .................... 7»XS
K A N S A S C IT Y .... » » .to
fiT . L O U IS ............. « 4 4
C H IC A G O .............. M A i
D E T R O IT ..........Ito .S T
C IN C IN N A T I........It o - t S
N E W O R L E A N S IS » .I
C L E V E L A N D ........ IS ».«
TORONTO
111.1
ATLANTA
1M .4
r iW S M C R G N
11 "
W A S H IN G T O N ....86
P H IL A D E L P H IA 1«
N E W Y O R K ....... 1«
B O S T O N ...........
-
25c
5 Ox. T in s .......................
KOODLES
LOW FARES
2 Lb. Package .......................
Done by experts at the
Hermiston
Barber Shop
Also a Specialty of
. FACIALS
SCALP TREATMENT
FINGER WAVING
SHAMPOOING
W hite Star— “Chicken of th e Sea’’
7 Ounce Can
19c
P.&G. Soap”
45c
2 For ___
’“,8~’39c Fels Naptha Soap
PICKLES
Kerr*» Best
59c
PIC K l F .8— Kerr’»
No. 10 (G allon) D ills.......
Sw eet. Sour or Dili»— Wonderful
Summer Delicacy.
2 1-Pint Glass Jars
15c
TURA
Macaroni and Spaghetti
Good quality hard w heat
Latest Stylesof
Hair Cutting
25c
2 Packages
The whole Crain W heat Flakes
2 Fackagca
43c
2 Large B ottles
No. 10 (G al) Sours..
45c
75c
$1.25
MATCHES
TOILET PAPER
Buffalo Brand— A good quality
Match at a real saving.
A fine grade tissue.
6 Large
R oils -----------------
6 'Box
37c
Carton ___________
15c
Every W eek Day but Saturday
F. C.
WOUGHTER
A gent.
Hermiston, Oregon
Ladiet Phone M l
For A ppoints rat
W M . SH AAR
ORONITE
FLY SPR A Y
PUTT'S----
Q u i t s .....
K ills them Dead— Does Not Stain.
GALLONS
KITS ------
39c