RADICAL CHAN6ES
r TRANSFORM BANKING
National
Commission
Sees
i Changing Opinion on Branch
Banking Issue— Studies Group
and Chain Banks.
I
—Modification of the s t
irs on the long disputed
r question Is forecast In
report covering rapid
on In banking Issued
onomic Policy Commle-
merlcan Bankers Asso-
report, however, after
cent proposals that na-
■ given braneh hanking
the business territory
heir location, declares
it believe that so-called
snch banking Is likely
pport of any large per-
banklng fraternity.**
Ion says that the “most
elopment that has af-
an banking In recent
i the rapid growth of
ng organisations In the
chain and branch bank-
and adds that “we pre-
irt as an unprejudiced
r and have no theories
irge at this time." The
i that the commission’s
dlcates there are now
chain bank systems,
1922 banks and »15,285,-
fregate resources, and
only six states and the
imbta where It does not
i organizations,
tslon’s Investigation *
een in touch with the
___ _
many important hank
groups,” the report says. “Aside from
the obvious economies of centralized
operation and control a number of
these organization heads very frankly
tell us that they do not feel that the
system has been in operation and
tested long enough to Justify them In
making positive or sweeping state
ments as to Its advantages or disad
vantages compared to unit banking.
“The Banking and Currency Com
mittee of the House, which Is con
ducting an Investigation TDto banking
developments, has called a number
of operating heads of some of the great
group systems. These men declared
that they found, under certain condi
tions, definite operating and economic
advantage In both group and branch
banking over Independent unit bank
ing. Some thought group banking was
only a transitional stage, that branch
banking was preferable and If it were
permitted on an extensive enough
scale they would change their groups
over to braneh systems. Others held
that group banking was preferable.
“Some held that the Ideal plan was
a combination of the two with group
bank units for localities strong enough
to support complete banking institu
tions and with branch offices extend
ing further Into the smaller places
requiring banking services but not
large enough to support complete
banks. Several of these who advocated
multiple banking declared that never
theless they believed there would al
ways be room for vigorous Indepen
dent unit bank competitors.
Government Officials Express Views
"The Comptroller of the Currency
recommended that national banks be
given branch banking powers within
*trade-areas.* The Governor of the
Federal Reserve Board appeared to Be
In general agreement with the Comp
troller. H e said there were 24,«45
banks and 2,547 branches, a total of
28,122 banking offices; that In this
total, 8,253 offices were either branches
or bank members of groups, or both,
leaving 21.8M banking institutions
that might be definitely termed Inde
pendent unit banks, having no
branches an8 in no way connected
with group affiliations. He said all
the banks had total loanr and Invest
ments of »58,500,000,000, of which the
group and branch systems held »30,-
000,000,000, or more than half.
“He opposed nation-wide branch
banking at present but said that ulti
mately It bankers became trained and
experienced in the larger technique
of ‘trade-area’ banking he thought It
would In time evolve nation-wide
branch banking under control of rel
atively few banks, but he did not be
lieve this would mean monopoly or
lack of competition. He favored
branch over group banking which,
however, he said represented an eco
nomic development along ‘trade-area’
Unas and weald spread unless son
thing else were substituted and thought
*trade-area* branch banking would
this purpose.,
is the Intention of the Commis
to develop Its own studies In
questions, watch carefully every
that la made and every bit of
.tlon that may develop in this
and keep Itself prepared
^
it s< «he tacts of
that Is desired." t
Slot« Pair Exhibit
Attracting Finest
of Nation’s Cattle
Salem, Ore—(Special) — Cattle
from the finest herds In tbs United
States are assured for the Oregon
State fair this year, with the an
nouncement that all danger of in
fection will be eliminated by rigid
adherence to the new rule provid
ing for compulsory contagious abor
tion tests for all anlmala entered
la the dairy exposition. It was de
clared by officials recently.
The disease-tree exhibition here
Sept 22 to 28 will be the first of
Its kind ever held, and contrary to
early predictions the stringent con
ditions are attracting a much larg
er number of cattle from exhibitors
who heretofore have been hesitant
In allowing their finest animals to
be entered in fair competition.
Applications from new livestock
exhibitors are coming In rapidly,
according to Mrs. Ella S. Wlbon,
secretary of the state fair board,
with many from midwest and east
ern farms.
Among the new entries are:
Troutmere Guernsey farm. La
Honda, Cal.; F. F. Pellisiers 4k
Sons. Whittier, Cat; F. M. Roth-
rock Co., Spokane, Wn.; Sunny
Croft Stock farm, Monroe, Wli.;
Lllllard Stock farm, Arlington,
Tex; R. E. Struts A Sons, James
town, N. D.; Oieon Bros., Fargo,
N. D.; Woodhull Farms, Darlow,
Kan.; Franklin C. Beatty, Walla
Walla, Wn.; Flathead farms, Kal
ispell, Mont; C. P. R. farms,
Strathmore, Alberta,; and Charles
Ule, Carstairs. Alberta.
Entries In all branches of the
exposition are coming In dally, and
are far ahead of last year’s record
In nearly all departments, It was
announced. With »80,000 la pre
mium« and pursee, In addition to
»17,600 In prises for horse racing
events, offered as the reward for
exhibitors, the fairgrounds are ex
pected to be taxed to capacity to
accommodate scores of later en
trants.
Many Entries In Rabbit Shew
Salem, Ore. — (Special) — The
largest rabbit show sponsored by
any similar exposition west of the
Mississippi river will be held In
connection with the Oregon State
fair here, Sept 13 to 28, it has 1
announced.
THEATRE HEW S
•
Show Girl in Hollywood," which
is coming to the Oasis Theatre Fri
day and Saturday with Alice White,
Jack Mulhall, Blanche Sweet, Ford
Sterling, John Miljan and other nota
bles In its stellar cast, goes behind
the scenes of Hollywood life.
According to Mervyn LeRoy, who
directed It, the picture is the first
that combines wth a realistic and
human love story an accurate picture
of what goes on in the studios, the
Hollywood cafes, the stars’ and direc
tors* apartemnts and homes. More
over, It shows exactly how pictures
are filmed from the first ‘‘Story con
ference" to a final success scored by
re-cuttlng a flop."
the Oasis theatre on Sunday and Mon
day next, all for a lady takes the
steering wheel In one hand and his
llfellfe In the other and coara away
Into the peaceful heavens— upside
down and then—
Thia hilarious farce comedy, which
Is a continual succession of roars and
gaspe, presents Edward Everett Hor
ton, the famous comedian, as "The
Aviator," opposite Patsy Ruth Mil
ler as the girl.
W arner Bros. Representative Here.
S. Milligan, Warner Bros, picture
representative, of Portland, was In
Hermiston Friday and Saturday look
ing after business Interests connected
with his company.
UMATILLA ITEMS J
They told him he could learn to
fly an airplane without going out of
bis own room.
He made an attempt to abeorb suf-
Mrs. Mabie Lash and daughter,
flcent Instructions in one day, with Lorlne, accompanied by BUI Ixing-
out revealing the facts to outsiders,
to enable him to make his first trip
In an aeroplane as the pilot of a
wildly stunting ship.
The hero of the Warner Brothers
Vltaphone production “The Aviator,”
scheduled to open an engagement at
Oil K ingit 9Ï
It w ill urprtee you how much
we can save you during the year
on your shoe bill. All we ask is
that you bring your shoes to us
for repairing lu ample tim«: so we
can do a good job.
SHOES DYED
ALL COLORS
John D. Rockefeller, Sr., photo-
aphed on his 91st birthday, looks ip
ir r health than he did a year ago.
BOWMAN
SHOE SHOP
good of Starbuck, motored to Walla
Walla Thursday.
Lorlne Lssh spent Friday and
Saturday visiting In lleppner.
Paul Walsh went to Portland Fri
day night after his car which was
stolen in Pendleton last Saturday
while attending the Round-Up.
Mr. and Mrs. Harry Jones went to
Canada Thursday night where Mr.
Jones was called because of the ill
ness of his aunt.
Joe Dolber and Fred Finn of Louis
iana, visited at the home of Mr. and
Mrs. FredKuntson. Joe Dolber was
a former resident of Umatilla.
Lorene Lash left for Milton, Ore
gon. the first of the week where she
will attend school.
Pete McNabb and son Raymond
accompanied by Will Shepard and
Lew Brownell motored to Portland
Sunday.
x
Mr. and Mrs. Frank Carlyle from
Palmer, Idaho, visited at the home of
Mr. Carlyle’s brother, Hal-vey Car
lyle, several days last week.
J. Brown and son Lyle, motored to
Pendleton Monday.
Calvin Horsely is visiting his sis
ter. Mrs. Pete McNabb.
Mrs. At Foord. Mr. and Mrs. Harry
Granimcr and daughter, Reta Mae,
and Mr. and Mrs. Vivian Martin, and
daughter, Annabelle, were Pendleton
visitors Saturday night.
Mr. and Mrs. George Butterwood
motored to Wala Walla Friday.
Mrs. Llyde Tilden of Hermiston
was a visitor at the Ursel Hiatt home
Saturday.
N e w F o r d T r u c k W it h C lo se d C a b
S ave Y o u r Eyes
Dr. H. C. Gurry
Salem, Ore. — (Special — The
fastest horse races in a decade are
predicted for the 89th Oregon State
fair here, Sept 22 to 28, with many
sew stables entered In competition
tor the »17,600 In prises.
,
Food knowledge of twenty years ago is as out
of date as an automobile, or woman’s hat of that
period.
Nobody knew much about Vitamins then.
The purpose of eating was to satisfy the appetite,
with little regard to nourishment of the body.
Then came Dr. E. V. McCollum of John Hopkins
values based on those hitherto little known sub
stances, the Vitamins.
Hundreds of scientists, after McCollum, have
firmly established this newer knowledge of human
nutrition, which now is accepted as a matter of
The homemaker of today, in planning the family
SPECIALIST
meals, makes sure to Include foods that will sup
OF SEATTLE
ply the Vitamins— particularly
Hermiston for 15 years will again
Vitamin
A,
the
body builder.
Butter Is one of the most accessible and plenti
ful sources of Vitamin A.
Dr. McCollum says:
Butter should be used as a
HOTEL HERMISTON
spread and in the preparation of various food dishes
Thurs.» Sept. 18
whenever possible, for a liberal supply of Vitamin
A Is better than the minimum on which growth is
FOR ONE DAY
possible.
Eyes Examined
A -.i.,1 i
Hermiston Creamery
Glasses Ground and Fitted
CHARGES REASONABLE
EW Ford Model AA tracks and top material and Is easily removed.
Model A light delivery ears Both cabs are equipped with wind
were announced this week by shields of Triplex shatterproof glasr
the Ford Motor Company and are and
on vacuum type windshield wipers.
display In the show rooms of Ford
Model AA trucks may be had with a
dealers.
platform body, which can be equipped
Changes In the tracks are prin with stakes or a panel body. The
cipally in the front end, which has chassis has many Improvements, In
been completely redesigned, and In the cluding the four-speed transmission,
cab. The radiator la higher with more larger front brakes, stronger springs,
cooling surface, fenders are wide and
power take-off opening and optional
flowing, and a black cowl atrip add« a
dual rear wheelx
note of distinction.
The Model A line of new commercial
The new Model AA tracks with the
four-speed transmission introduced cars comprises a light delivery truck
several months ago may be had with with pick-up body, a deluxe delivery
enclosed or open cab. The enclosed truck, a small panel truck and a sta
cab, shown above. Is all steel. It le low tion wagon. These cars have the
In appearance yet with ample head smaller wheels and larger tlree of the
room. The open cab la of black rubber new Ford passenger cars.
N
Stanfield Sept. 19
Company
THE BEST MONEY CAN
BUY-W HY PAY MORE
Save
T IM E Y O U N E E D
Food Habits—
Then and Now
course.
THE OLD RELIABLE EYESIGHT
he *t the
Fast Horses Promised
Mrs. A1 Foord and Mrs. Harry [ Stever’s sister, Mrs. Ada Chapman,
Crammer spent Wednesday In Pat Sunday.
terson, Wash.
Wm Shepherd spent the week-end
Mr. and Mrs. Robert Hoeft and In Portland.
(amlly spent Monday afternoon at
Frank James was a Pendletvu
the Ted Carrol home.
visitor Monday.
Mr. and Mrs. Llewlyn left last week
William Logan and Mr. Edwarls
by motor for New York where they returned from Baker the first of the
expect to spend some time.
week after spending several days vis
Llyle Brown. Dan Foord and Don iting in that city.
ald llnrryman attended the show In
George Kendler of Pullman. Wash
Pendleton Saturday.
ington, la visiting at the home of his
Mr. and Mrs. Luke Weatlieral and parents, Mr. and Mrs. George Kend
childreu spent the week end visiting ler, Sr.
relatives In Arlington.
Mrs. John Horsely and Mr«. Geo.
BUI Roberta Is visiting in Port Kendler motored to Walla Walla
land.
Monday.
Among those attending the show
Verizon Joury stopped in Umatilla
Tuesday and visited friends while on "Twin Beds" In Hermiston Sunday
were Clara Corrigan. Mrs. Jack
his way to Spokane.
Mr. an,j Mrs. Wilburn Stever of Cherry, Mrs. A1 Foord, Mrs. James
Irrigon visited at the home of Mrs. and Mrs. Harry Grammer.
University, bringing out a new knowledge of food
Who has made professional visits to
Goodyear means minimum road
trouble, maximum mileage.
Steps
, Circulars
Invitations
L e tte rh e a d s
Folden • Card
S ta te m e n t s
Envelopes
Billheads
High Pressure . $4.89
$34.10
32x6 (10 ply) - -
29x4.40 Balloons - - $5.55
- $6.35
30x4.50 Balloons
Others in proportion.
G E T O U R PRICES
An extension telephone
will save many steps. It
will make prompt answering
lags of the Federal Reserve System's
twelve regional banks have amounted
to H15.218.000, of which »90.872.000
I paid to the memoer banks as
__ , representing 8 per cent an-
____ . on their contributions of capi
tal to the reserve banks, while »277,-
484.000 has been added to the surplus
of the reserve banks and »147.110,000
hao been paid over to the Federal
Ooronuseat as a franchise tax.
PAGE TB
«MTj meBlQSTOB wgW-ALQ, HEBAgSTON. OBTOQK.
THURSDAY, SEPTEMBER 11, USO
much easier. And this conven
ROHRMAN MOTOR CO.
ience costs but a few cents a day.
Just call our business office, or give
OUR SERVICE GUARANTEED
OUR SHOP IS MODERN
your order to any telephone employee.
T he P acific T elephone A nd T elegraph C ompany
.........
¿
AUTHORIZED SALE j AND SERVICE
HERMISTON, OREGON
PHONE 571