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About Vernonia eagle. (Vernonia, Or.) 1922-1974 | View Entire Issue (May 14, 1926)
Biggest Little City in Oregon BANKERS SÜKVEÏ STATE BANK LAWS VERNONIA EAGLE i $600,000,000 a Year Loss Caused by Auto Accidents New York.—A survey of st te bank ing laws conducted by the State Hauk Division of the American Bankers As sociation shows marked progress to ward greater uniformity and more ef ficient bank supervision, it Is declared by Frank W. Simmonds, In charge of the division, in a statement giving the results of the Investigation. He says that the movement for stale guaranty of bank deposits appears to have gone Into eclipse. “The division has urged that the office of bank commissioner be treed from politics and all other functions of state government and tenure be made more secure with sufficient com pensation and discretion to attract men of outstanding ability,” Mr. Sim monds says. “Grat.tying progress has been made during the past year in im portant bank legislation in many states. Idaho, Wyoming and Oregon led the list by adopting entirely new modern banking codes, while Texas and Montana have new codes in prep aration. Uniformity Among State Laws “The survey shows that it is gener ally agreed there should be a high de gree of uniformity among the states in laws dealing with certain funda mental principles of bank organiza tion, regulation and supervision, and that there is a strong tendency in this direction. We find a very definite trend toward increasing the minimum capital requirements of banks to $25,- 000; creation of banking boards to act in an advisory capacity with the state brfnk commissioner, and legislation empowering bank commissioners to take complete charge of insolvent banks and to liquidate them as dis- tinguished from liquidation through the courts. “We find also a trend toward legls- Jation providing for closer supervision and regulation of building and loan as sociations; more equitable taxation of bank stock; legislation providing for merger, conversion or consolidation of banking institutions; the legalizing and regulating of what is known as ‘departmental banking’; broadening the field for investment of funds of saving banks and trust companies, and increasing the power of the bank com missioner as to granting or denying charters for new banks, and authoriz ing his making reasonable rules and regulations governing bank manage ment and prescribing penalties for the violation thereof. •‘Additional general characteristics of state bank legislation are for in creasing the compensation of the bank commissioner and lengthening his term of office of four, five or six years, with power to appoint ntcessary depu ties and examiners; legislation provid ing for the reduction of mandatory bank calls to three and reducing the number of exaininat »ns required by law annually to one; makin*: issu anco of worthless chocks a miste meunur; limiting or prohibiting an officer o; <11- rector of a bank borrowing from hla bank unless his collateral is approved by a majority of the hoard of direc tors, and limiting fir prohibiting the opening of branch banks Eclipse of Guaranty Movement “The question of stale guaranty bank deposits appears this year have passed into tin eclipse, so far the extension of the idea is concerned, notwithstanding the fact that state guaranty laws were recommended by the governors of two stales, and bills were introduced In several of the states, all of which were defeated. The general tendency, so far aa state guaranty of deposits laws are con cerned. is distinctly the other way, the Indications being that several states now ha\ guaranty laws are trying to free themselves from this legisla tion. Oklahoma lias abandoned the pan of state guaranty of deposits, id this year the South Dakota leglsla- turn has repealed the state guaran.y law and has referred the repeal to the people . t the next general election for ratification.** BANKERS RAISE FUND OF $.50,ODO I . n EDUCATION A fund of $500.000 to endow schol arship id s.n.h ii economics in America , calle ;< < w recently es tablish« by the Am rican Bankers As a- iatlon In c ..Oration of Its Gold en Anniversary The intention of the Foundation is to prum - e education In ihe direct on of sotindur general .to- nomic understanding. Half the total aim represents subscriptions by the American Bankers Association, the American institute of Banking and in dividual bankers, and the other half quotas assigned to bankers in each state. The Association gave $50.000 from its reserve funds, and the Ameri can Institute of Banking, through in dividual subscriptions from its mem bers. who are chiefly clerks in the banka, subscribed $2*».000. Nnmaroue aubec Options of $5.000, $2,500 and $1.-, i 000 each were made by individual | baakera in all parts of the r aunt y. • A Vernonia Institution in Vernonia —PROMPT SERVICE— We call for and deliver For State Then 2 2, eoo lives =*113,000,000 z & AMERICAN LAUNDRY * If ea.ch life is worth Find That Movement for Stata Guaranty of Bank Has Gone Into Eclipse. Prior to 1883 each city in Ameri ca had its own time, whicVi was de termined by the time of passage of1 the sun across the local meridan consequently the traveler going" from one city to another had continually to change his watch to the local time SCHOOL Finish------------------- Rough Dry i WHEN IN A HURRY CALL I V --------- MAIN 711--------- SUPERINTENDENT If non-fatal Republican Candidate •rVur'es each cost Then 6 7ô,000Injuries =*118,050,000 Property damage for A each auto accident w. WHITE FRONT CANDY KITCHEN West Bridge Street Coolest Place in Town ESKIMO PIE DIXIES, CONES, BULK ICE CREAM COLD DRINKS BRICK ICE CREAM "Ten 700,030accidents13so,ooo,ooo OTAL COSTOf ACCIDENTS* 581.650000 ■■■■■DaaanMaBaHMauKMMiaMBiiaBaKcaMMHHaaMMMMMaaBaaMM >;t*A8T EARNER M/TQMOBILS BAFKTY COUNCM. pLOSE to $600,000,000 a year is the annual economic loss due to automobile accidents, both fatal and non-fatal. This appalling sum Is only un estimate, as no complete figures on the number of automobile accidents in the United States are available, but It has been conservatively estimated that 22,600 lose their lives each year by automobiles, and $5.000 a human life Is the lowest value put on it by economists. Of non-fatal accidents 678,000 occur annually, causing average cost of $175 Then, each accident averages $50 property damage, insurance records show. This makes the staggering total of .$581,630,000 a year. No account Is taken here, points out the Stewart-Warner Safety Council for the prevention of automobile accidents, of the economic value of time loss by the Injured due to lays caused by accident.» nr to minor property values, such as bent fende expense incurred while motor vehicles, par licularly the commercial ones, are out of service, due to accidents, Were all these taken into the reckoning, the total figure would surely be doubled. or around $1.113,750.00!I Some idea of the enormity of this economic loss, most of which Is avoid able, can be gained by such relationships as tlie£e: it is twice the cash fncomi of the 1923 wheat crop; It Is equal to about on^-thlrd of the much ed French dell to ibis country; and, finally, this loss would buy the dl entire city «».’ Chicago nt Its p, esent realty assessment valuation. IMPRESSIONS OF A LADY 82 YEARS YOUNG I i too, I felt comforted, but not cured) ; My brother took me then through the wonderful sawmill that I have ever Seventeen months ago I left El mira, New York, November 3rd end arrived in Sacramento, California November 11, just in time to see the Armistice parade, some ten blocks long. I spent a very delightful seven teen months with friends and rela tives, until April 22 when I had an attack of the wanderlust and as everyone knows the only cure is to travel and as W. W. Congdon hap pened to be my brother I thot best to stop over in Portland and run over to Vernonia, and when I arrived was met at the station by Brother: William. We came to Vernonia bv I bus. Everything went well until we began to climb the mountain, then I began to feel queer at the pit of myi stomach and wondered if those baked beans that I ate for lunch on the train was the cause, then I stopped wondering and began to swallow, I felt rather silly to feel ■ that way but when I arrived at the end of the journey I found that my brother (an old settler was sea sick I had the priviledge of seeing by namr the Oregon-American, the largest in land mill in the world, having a capacity of six hundred thousand feet of lumber a day and last Sun day I was invited to go to Astoria by auto. We went to Seaside, 23 miles beyond Astoria, then we were 95 miles from home. We left Ver- nonin at 7:30 a. m. and arrived at home at 5:30 p. m. and stopped several times in route. The scenery to me is most wonderful, something to look back to when I get to Maple ton, North Dakota. That too is a wonderful country. They raise all kinds of grain, even corn, also rais ing cattle quite extensively. I ad mire the courage and grit of our one hundred per cent Americans who came out in the great forest of Oregon to hew the way to farms and homes for the future generation and last but not least I want to thank Mr. Richard Greenville for making it possible for me to visit my brother Mrs. M. W. Kame, Mapleton, N. D. TAKE HOME A BRICK Stop for a Cold Drink Mr. Keller Wants To See You THE WHITE FRONT West Bridge Street Come in and see us CHARLES A. HOWARD Superintendent City Schools MARSHFIELD, OREGON The following prominent educatore of the State of Oregon are among the many indorsing his candidacy: Hopkins Jenkins, Principal Jeffer son High School, Portland. Ore. Hugh Boyd, Principal Washington High School, Portland, Ore. W. L. Verry, Principal Lincoln Higl School, Portland, Ore. T. J. Gary, Principal Buckman School, Portland, Ore. Grace Bridges, Grade School Teacher Portland, Ore. Julia Spooner. Grade School Teacher Portland, Ore. H. E. Inlow, Superintendent of Sei )ols, Pendleton, Ore. Geo. A. Briscoe, Superintendent of Schools, Ashland, Ore. Susanne Holmes Carter, County School Supt. Jackson Co. Ore. J. E. Myers, Supt Crook Co Schools Prineville, Ore. E. H. Hedrick, Superintendent of Schools, Medford, Gre. Mrs. C. E. Mulkey, County School Superintendent, Coquille, Ore. G. W. Ager, Superintendent ot Schools, Bend, Oro- % Picnic Time WE ARE READY FOR YOU WITH PICNIC SUPPLIES BATHING CAPS KODAK FILM—LUNCH SETS Vernonia Drug Co A trained and successful School Administrator “THE REXALL STORE Wm. Folger, Prop. (Paid Adv.) 58 Miles an Hour $845 5 to 25 Miles in 8 Seconds 25 Miles to the Qallon— at Electrifying New Low Prices O wners F ind S ure C ontentment in C hrysler “58” P erformance E conomy and R uggedness U. S. SENATOR The ftronprest «>pp siii Fred Steiwer is found in th ocratic party. Democratic cian? •m It "VC wer c prirai ’ .V ir L I iCV I and J 1C 1 I a* i th that hir fur direc P ther re enem their h it i« <»trc n I 111 f Th beck TH x V A r fl .ver will 1 >0 a credit f Orc ron 11 the United St u< Si II. Ho is clean, energetic, capable nr H -rc<4iv.‘. His i vc id us a official iL flav.ie- Extraordinary speed and power, combined with economical care-free service, continue to win to Chrysler “58” new owners at the rate of 10,000 per month. Chrysler Model Numbers Mean Mil« Per Hour CHRYSLER -58 —Tourint Car. $845, Roadster Special. $890, Club Coupe. $895;Coach. $935. Sedan.$995 Disc wheels optional Hydraulic four-wheel brakes al slight extra cost Paid Adv. Staiwvr for Se nator Committee ISAAC STAPLES, Chairman This nation-wide endorsement of Chrysler “58" is no mere matter of chance. Chrysler “58” Sedan, AU prices / o b. Detroit. subject to current Federal excite tax All models equipped unlhfuU balloon tires Ask about Chrysler s attractive time-payment plan More than 4 MX) C hrysler dealers assure supc- nor Chrysler service every where AU Chrysler rnudcis are protected against theft by the Fede© patented car numbering system, pioneered by •nd exclusive with Chrysler which canna« be counterfeited and cannot be altered or removed witlxxit cu> elusive evidence of tampering CHRYSLER “58 A VO I t. FOR STFIWER Is a Vole For a Republican Victory Meanwhile, both new and old owners are enthusiastically sat isfied with their choice. On the contrary its sustained speed ability of “58” miles per hour, acceleration of 5 to 25 miles in 8 seconds and economy of 25 miles to the gallon, which have won this approval, are the predetermined result of the most carefully calculated bal ance, scientific carburetion and gas distribution, plus painstak ing Chrysler craftsmanship. We are eager to give you a thorough demonstration of these Chrysler “58” qualities. I MONKEY WRENCH GARAGE C. Cullendine,—Vernonia, Oregon 1 i
