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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 23, 1933)
PAGE TWO MEDFOTID IttTL TRIBUNE, IfEDFORP, OREGON, FHID'AY, JUNE 23, 1933. New Home Loan Bill As Passed by Congress Is Explained in Full Detail "Station C. Such ftwoctttlon will lend thtir funds onlj on th security of their ahares or on first Ueiu upon home or combination of home and buslneu property, within M mllei of' their office; provided that not more than 920,000,000 shall be loan ed on any one auob property nor a sum exceeding 15 per cent of their assets, whichever la leu. "Sctlon D. The board ahall have the pcwer to provide rules and regu tlons for reorganisation, consolida tion, merger, and liquidation of such associations, Including the power to appoint a conservator or receiver, to require equitable readjustment of Its capital structure; and to release any such association from further control and permit it further operation. "Section E. No charter ahall be granted except to persona of good character and responsibility, nor un less In the Judgment of the board the ' necessity exists for such an associa tion In the community to be served, nor unless ttiere la a reasonable prob ability of Its usefulness and success, nor unless the same can be estab lished without undue Injury to prop erly conducted existing local Institu tions. Section ?. Each such association shall become automatically a mem ber of the Federal Home Loan bank of the district In which It la located. Such association shall qualify for such membership In the manner pro vided in the federal home loan bank act with respect to other mem bers, "Section O. The secretary of the treasury U authorised on behalf of the United States to subscribe for preferred shores in such associations, which shall be preperred as to the assets of the association, and It shall be entitled to a dividend, If earned. after payment of expenses and pro vision for reasonable reserves, to the same extent as otfier shareholders. Subscription In any one association ahall not exceed 9100,000 subject to the Judgment of the board, that the funds are necessary for local home financing In the community to be served and for the reasonable financ ing of the same. The amount paid In by the secretary of the treasury shall at no time exceed the amount paid In by all other shareholders. Provision Is made at the end of five years for a ainklng fund of one-third of the receipts of an association, from Investing shareholders, to be used to retire the stock owned by the United States." This clause Is of the utmost Im portance to the local Investor as It means that the government will not only regulate such an association as It does a national bank, but that It will give It the assistance of the home loan bank act, and match dol lar for dollar, local money Invested up to $100,000. Dividends shall be paid, the government only as t&ey are psld to other shareholders, If and when earned. It seems to me thnt Jf the federal government has thus much confidence In this type of business properly conducted, and do ing a reasonable finance business at home, that local cltlrens should feel absolutely confident in the safety of their funds If Invented In a federal savings and loan association. White provision la made for retirement of the stock owned by Vie government after five years, It mesne an Imme diate strengthening of local Institu tions. The first requirement of se curing a charter Is the need of the community, and the second one la membership in the home loan bank, which gives federal regulation even after the government stock has been retired. Needless to say, while Uncle Sam Is Investing in the stock of the associations, It has not yet Invested In ttie stock of national banks, so that this type of lending agency is given en advantage even over na tional banking Institutions. "(Section H. Such associations ahall be exempt from all taxation now or hereafter Imposed by the United States, and all shares shall be exempt both a to their value and the income therefrom from all taxa tion (except surtaxes, estate, inher itance and gift taxes); no state, county, municipal nor local taxing authority shall impose any tax on such associations greater than they impose on any other almllar institutions. j "Seotlon I Any member of a fed Wl uuun liwu iibu mm waiTvtv - self into a federal savings and loan association under this act, upon a vote of its stockholders as provided by the law under which it operates; but such conversion shall be subject to the rules and regulations of the board." Membership In a federal home loan bank is difficult to obtain and Is de pendent upon financial condition, the character of the management, and a home financing policy consistent with sound and economical home fin ancing. The requirements further state that "No Inrtltutlon shall be admitted to or retained In member ship. If the combined total of the amounts paid to it for Interest, com mission, bonus, discount, premium, and other similar charges, less a proper deduction for ell dividends, refunds and cash credit of all kinds, creates an actual net cost to the home owner in excess of the maximum le gal rate of Interest or, the lawful contract rate of interest applicable to such transactions," Membership Is a badge of honor and carries with It the possibility of conversion to a federal savings and loan association, whereby a considerable amount of federal funds may be obtained for the development of the community. Such an Institution should be granted the entire confidence of the Investing public and should be used by it as a safe plsoe to make invest ments for a reasonable return. SOUTHERN BUILDING k LOAN ASSOCIATION. By Hamilton Patton, Secretary. Howard District HOWARD DISTRICT, Jutl 9. (Spl.) Mr. and Mra. Ayrea of Colo rado arrived laat WMk to vlalt their dau(hter. Mra. Oharlaa McKe. They left later for Klamath Falla to vlalt their aona. They axpeot to apend th. aummer In Medford. Mr. and Mra. Colllna ar. enjoying a vlalt from their aon, of Oakland. Olrl Scouta gave a farewell party for Ruth Mary Brown Thuraday ,at Avonne Rae'a. Ruth Mary and Mlaa Ella expect to leave aoon for their former borne In the eaat. Leonard Brock waa re-elected achool director Monday. Mra, Btocka waa re-elected clerk. ftleda Ayrea of Klamath Falla la visiting her aunt, Mra. Charlea McKee. Mr. and Mra. Imbry have been alck the paat week with the flu. Mr,. Huff and Anna vlalted Mra. Todd Bmlth thta week. Mr. and Mra. Frank Wtdner ara the ownera of a new car. Mr. and Mra. Marlon Button have moved from the Seymour house Into town. . Th Zumwalt family haa moved to Jackeonvllle. Mable Parke vlalted a few daya with her alater, Mra. Frank Breen at Butte Falla. Leonard Brock haa been 111. Bill Wlthrow haa a crew of men thinning thla week In an orchard near Gold Hill. a Woodin At Work Secretary William H. Woodin li working overtime these day keep. Ing abreast of the economic- devel opments both at home and abroad which vitally affect the treasury de oartment. (Associated Press Photo) Antelope ANTELOPE. June 33 (Spl.) Bob Lindsay and Wallace McDow left June 12 to start work with the forest service. Ben Oswald left for Diamond lake June 13 to work for Bill Von der Hellen, on the Diamond lake road. A surprise pnrty was given Mr. and Mra. Luther Day, June 17. Present were: Mr, and Mrs. Henry Owens and son Eddy, Mr. and Mrs. Harvey Stan ley and son Darrel and Mr. and Mrs. Cecil Culbertaon and daughter. Mrs. Bob Llndsey fell while irrigat ing and dislocated her knee cap. She Is reported gettlong along nicely. There waa an annual school board meeting at the Antelope school house June 10, to elect one new director and school clerk. Jack Woods was elected director and Mrs. John O, Oreb was elected school clerk. Visiting Mr. Balee at the Sscred Heart hospital were: Mr. and Mra. Henry Owens, Mr. and Mrs. W. X. Davles, Mr. Bill Bigham, Mr. and CITY MEAT MARKET 4 FREE DELIVERIES DAILY 121 Mo. Central. Phone 324 SMART SHOPPERS Realize that there U a vast difference between meata whoie only claim to distinction ii cheapneat and the CHOICE MEATS offered here. HAM half or whole . . . lb. 15c BACON, lean . . . . lb. 18c VEAL ROAST lb. 9c VEAL or LAMB STEW . lb. 5c LEG of SPRING LAMB lb. 15c HENS FRYERS RABBITS We have a full line of Picklei and Lunch Ooodi for the Picnio Mr.. B. K. Rings and Mra. T. T. Hatlatt. Mr. Balw la In a plaatar caat, which will ha removed the laat of July. Mlaa Lillian Owena of Modeato, Oal. la vacationing with her parent, Mr. and Mra. Jim Owena. Antelope Social club met June 32, at Mra. Ethel stlmpaon'e. Preaent were: Meadamea Blanche Hughes. John Rader. Helen Culbertaon, Jim Owena, T. J. Hatlett, W. E. Davlea, Mary Bradahaw, Vida Stelle, Henry Owena, Jack Wood, Mary Rummel, Harvey Stanley, Luther Day, Ruby Rlgga, Mlaa Lillian Owena and the hoateaa, Mra. Ethel Btlmpaon. The afternoon waa apent In working Jig aaw puzzles. The next club meeting will be announced at a later date. Mra. Nell Von der Hellen demon atrated tea, June 18 and 17, at the Groceteria In Medtord. A number of people have reported aeelng a few army worma In the An telope district. It la hoped they won't Increase aa they did laat year. FOWLER ELS CROP PROSPECTS AT MEET BellTlew Orange met June 90 with M members present for the session It. O. Fowler, county sgent, tslked shout crops end other subject ot in terest to farmers. Homer Billings ol Ashland spoke briefly to the grsngers on registering to vote at the July election. C. O. Presnell talked on prohibition. The program closed with a clever skit sent out by Oregon Dairy council, "Butter Late Then Never." Mrs. Wade Wall Is and Mrs. Mark True pre sented It. Report waa heard from the roads committee and some constructive work is being planned. Plans were made for the next Orange meeting July 4. A short busi ness session will be held at 8 o'clock Men of the Orange will put on the program. Jesse Nell was named chair man. The men are furnishing ice cream and the ladles cake and straw berries. Grangers and their famlltea are Invited. The recreation commit tee Is planning outdoor games and sports for all. Executive board reported on the meeting In Ashland Armory June 27 when Orangers and townspeople are Invited to hear Ray OHI, state master, talk on the sales tax. The commit tee Is endeavoring to obtain a speaker for the opposite side of the question. The evening ended with a social hour, refreshments, games and stunts. Card of Thanks We wish to thank our friends and neighbors for their kindness and sym pathy also for the beautiful floral of fering during our recent bereave ment. Mrs. Hsttle Foe ret Joseph Foerst Ashton Foerst Mr. and Mrs. HobJirt Dltaworth and family. A survey" indicates that 1,155,000 persons entered Miami, Fla., during the year ended March 15 last. WOMEN GOLFERS LOSE IN GRANTS PASS PLAY Medford'a women golfera, led by Mra. R. B. Smith, oaptaln, loat by two polnta In their inter-clty match with Qranta Pasa women last Wed nesday, the final score being to lc',4 In favor of the Cave City golf-era.- . ' The women will play here next Wed nesday In a return match, when the Medford team, expecta to even the score. Twelve women comprised, the team going to Oranta Paae. Mature persona up to SO years of age learn most thlnga better than pupils of high achool age, aaya Dr. Edwin A. Lee, director of vocational education at the University of California. During the first quarter at 1833, 0.313 Jewa and SIS non-Jewa entered Palestine, saya the Jewish statistical bureau. A year before the flgurea were 9,103 and 374. Scott w. Phillips, civil war veteran of Grants Pass, Oregon, In hla eighty- sixth year, recently landed a 30- pound aalmon without aaalatanoe. An orphanage at Teller, Alaeka, tor Eskimo children haa been closed by the Norwegian Lutheran ohuroh be- cauaa It la no longer needed. The territorial legislature of Alaaka has appropriated $333,000 to provide a home for aged pioneers. Health half of success Few men achieve their goal with out vitality and drive. And no many are held tuck from their best by a common ailment: constipation. It dulls energy, often effuses head aches, sleeplessness. It takes the vim out of your day's work. Correct constipation by eating a delicious cereal. Laboratory tests show Kellogg's All-Bran supplies "bulk" to exercise the intestines, and vitamin B to tone the intestinal tract. The "bulk" in All-Bran la similar to that of lettuce. Within the body, it becomes a soft mass, which gently clears the intestines of wastes. Bow much better than using pills and drugs so often harmful. Two tablespoonfuls daily will cor rect most types of constipation. If not relieved this way, see your doctor. All-Bran also has iron for the blood. At all gro cers. In the red-and-green package. Hade by Kellogg in Battle Creek. HELPS KEEP YOU FIT OE OE IODOE O D o E2imftmy (SEnsettei?Sai THE HOME OF DOEAD LIKE MOTHEIt MAPE BUY FLOUR AHEAD OF THE PROCESSING TAX WITHIN a few days the government processing tax on wheat be comes effective and Flour will take a big jump in price. If the sug gested tax of 53c a bushel is put on, all grades of flour will advance not less than 50c a sack. Whatever protection you get you must provide yourself because the government will not allow us to buy a big supply ahead. The law specifies not to exceed 30 days' supply to any retailer. If the tax is lower than 53c the advance will be less, but it will be such that you should protect yourself. Usually we buy ahead and give you the benefit of our saving, but in this . case this is the best we can do to protect you. Maple Leaf, a good hard wheat flour; 49 lbs $1.09 White Rose, guaranteed light bread flour; 49 lbs. . . . $1.29 Drifted Snow, home perfected, the very, finest; 49 lbs. $1.57 O D o I o II Q BREAD Finest home quality with real home flavor . Hlb. loaf ...... 7ic CAKES Betty Crocker's real home quality cakes. Several varieties 23c 39c SUNSHINE CRACKERS The famous Sunshine Krispy America's finest Salted Wafer 2 lb. package .......,.',..,. .,.4.25c Sunshine Milk and Honey Grahams -2 lb. package ... ...i.,...,. 25c Sall-brah New Feed Store featuring Hodgcn - Brewster Poultry Dairy FEEDS OPENING SPECIALS . Scratch Feed cwt. $1.50 Lay well Buttermilk Egg Mash cwt. $1.70 Ground Barley .cwt. $1.10 Rolled Barley ,.; .70s S5c Wheat, recleaned .$1.40 Berry Cups Per 100 75c Dairy Fly Spray Per Oal. JERRY BARR Temporary Location Phone 803 Kimball Warehouse ACROSS FROM 8WIFT & CO. Cereals Affected by Tax and Other Thrift Items 25 Pancake Flour Sperry No. 10 bag Bisquick Biscuits or Shortcake in a jiffy : 39c 29 Egg Noodles best ever 6-oz. cellophane package. 3 for Drifted Snow, homeOQ, perfected, No. 10 bag U V1 Cornmeal, white or yellow, 9-lb. bag ...... 22 Corn, Minnesota Val ley, cream style, No. 2 can, 3 for .... Milk Morning Brand, tall cans. 5 for Lindsay Olives, No. 1 can - 25c 29c 10 Gold Medal Salad Hi Dressing, quart jar .... v Fancy Royal Apricots for canning, 24-lb. crate Fancy Sunkist Lemons, large size. Dos New Peas, - 3 lbs Wesson Oil make your own mayonnaise pint can M Q and mayonnaise tf gC mixer Lipton's Tea Oranke-Pekoe V-lb. can Sweet Chocolate Guittard Brand Lb. can 25; 3-pound can Snowdrift Shorten ing, 3-lb. pail Post Toasties Krunchy Corn Flakes pkg Maxwell House Coffee, pound can , 35 42 07c 27c 69 10 New Potatoes 8 lbs. ..: All Bunch Vegetables, 3 for Jumbo Gum Drops, pound Miss Jane Marshmal- 1 Qq lows, pound package P. tc G. White Naptha y JjC Soap, 10 bars 25 79 23 10c 23 10 05 New Cabbage, pound .... Galvanized Ice Cream Q Jj J Freezers, 2-qt. size .... w w 19 Bob White Soap, 10 bars Shrimp "Miss Lou" for tempting sum mer salads, 2 cans 19 Ice Cream Salt, 10-lb. bag Lawnmowers, Herschel five blade, self-adjusting O ball bearings, $Q98 16-in. size w Free Grass Catcher With Each La winnower Z-Mor-U Coffee Folks thought it couldn't be better but it is. The new importation, finer than ever , Now, pound 25c 3 pounds .to ...73c Fine Shopping Bag Free FOUNTAIN Ice Cream, all flavors, quart 35c Turkey Dinner a mighty good dinner 25c Ice Cream Sodas, any flavor, 5c Double thick Milk Shakes, 2 for ,.r 15c 6th at Grape 6th at Central D P: SAVING WITHOUT SELF-DENIAL Delivery of $1.00 Orders. Phone, East Side 752, West Side 428. O D o O
