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
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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
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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
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SAVING WITHOUT SELF-DENIAL
Delivery of $1.00 Orders. Phone, East Side 752, West Side 428.
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