BANKING RETURNS
Caught in
TOWARD NORMAL
The Round«
Reconstruction Finance Cor
poration Loan Repayment*
Mrs. H. J. Buffmire was taken
Show Banks Lead Pro
to a Portland hospital Sunday
cession in Recovery
night. She is reported as feeling
better now,
Mrs. Dave Marshall, Mrs. Har
old McEntire, Mrs. F. M. Ruhl
and Jack Marshall motored to
Portland Wednesday.
Mrs. M. J. Hanon has been ill
but is somewhat better.
Mrs. Ollie Roberts returned
Friday evening from Longview,
where she had been visiting her
daughter and son-in-law, Mr. and
Mrs. John Grady, for two weeks.
Mr. and Mrs. Grady brought her
over and stayed until Sunday
evening.
Mr. and Mrs. Geo. Schaber
are moving into the house at
925 Rose avenue formerly occu
pied by Mr. and Mrs. Ray D.
Fisher.
Mr. and Mrs. Albert Childs
were Portland visitors yesterday.
JOY THEATRE
Zasu Pitts in THE MEANEST
GAL IN TOWN, Saturday and
Sunday, May 5 and 6. Admission
10 and 25 cents.
Adv.
Mrs. E. B. Miner, who has been
ill for several days, is better
now. Her place in the home bak
ery was taken by her daughter,
Mrs. J. J. Slattery,
Mrs. D. MacDonald, who was
in the 'Coffey Clinic for medical
treatment, left the hospital Mon
day but is still confined to her
bed in an apartment with her
daugher Margaret. Mrs. MacDon
ald will not be able to return to
Vernonia for a couple of weeks
at least, Mr. MacDonald believes.
Word- has been received here
from Mrs. C. R. Twineham that
she left Portland April 28 for
San Francisco.
Indicating a rapid return on the
part of the banks to a normal self-
sustaining basis, 64 per cent of the
loans which they made from the Re
construction Finance Corporation to
tide them over the difficulties of the
past two years have been repaid by
them, it is Bhown in a recent report.
The R. F. C. report, issued on
March 6. says that the Corporation
since it began operations in Febru
ary, 1932, had made aggregate cash
advances to railroads, agricultural
and home loan agencies, insurance
companies and various other institu
tions in the amount of $4,786,410,000.
Of this sum banks and trust com
panies, to the number of 6,793, re
ceived actual cash advances of
$1,520,540,000, but have already paid
back $820,260,000, or 54 per cent.
Non-banking borrowers received
R. F. C. advances in the amount of
$3,265,870,000, and made repayments
of $377,830,000, or less than 12 per
cent. Among other classes of finan
cial Institutions reported as making
high ratios of repayment are build
ing and loan associations which bad
received $114,020,000 and have re
paid $53,880,000, or over 47 per cent,
and insurance companies, whose bor
rowings totalled $88,590,000 and re
payments $34,340,000, or nearly 39
per cent. None of the major non-gov
ernmental financial groups showed
so high a ratio of repayment as the
banks and trust companies.
Public Confidence Return*
County Key Banker*
Describing the activities of the
Agricultural Commission of the
American Bankers Association, the
Director, D. H. Otis, Bays: "With
2,SOO agriculturally minded bankers
designated as county key bankers,
there is enlisted a tremendous force
for the improvement of agriculture.
These key bankers bring organized
assistance to progressive bankers,
who are led to see the possibility of
agricultural work In their commu
nities. Banker-farmer tours are em
phasised as a means of acquainting
bankers, farmers and other business
men with first-hand knowledge of
how agricultural Improvement meth
ods are working out in practice.
These give an opportunity for the
key bankers to contact country bank
ers and work out new ideas.”
I
|
;
1
Direct information indicates con
clusively that the banking situation
Is showing definite and steady im
provement, J. F. T. O’Connor, Comp
troller of the Currency of the United
States, said in a recent address. He
pointed out that the decided drop
which has occurred In money In cir
culation shows that the public has
largely ceased hoarding.
On March 1, 1934, the Federal
Reserve Board reported that the
volume of money in circulation
amounted to $5,355,000,000, which
waB a decline of $1,077,000,000 since
March 1, 1933. It was a drop of
$2,226,000,000, or over 29 per cent,
from the all-time peak of $7,581,000,-
000 reached on March 13,1933. About
one-half the decrease, it was pointed
out, reflected the return of currency
from the public.
Money in circulation declined rap
idly after the reopening of the banks
in March, 1933, and has continued
since to decline from week to week,
“notwithstanding the Increase in the
demand for currency arising from
enlargement of pay rolls and in
crease in the volume of retail trade,”
the Comptroller said, which, he
added, "indicates a continued return
of money from hoards as banking
facilities were reestablished.”
TAXPAYERS
And others believing in econo
Farmers own 18 per cent of all
mical government: I solicit your
support in connection with my passenger cars and 26 per cent
candidacy for Republican nomina of the trucks.
tion as State Representative. My
platform is “Less spending of tax
payers’ money and the passage of
fewer laws.”
George G. Van Natta
Of Clatskanie
—Paid Adv.
16t4
Candidate for Republican
Nomination for
J. W. Foster
diseased cattle, and some relief
OPERETTA TO BE GIVEN BY
FOURTH GRADE AT SCHOOL purchases of dairy products. Dls-
eae eradication is regarded by
(Continued from page 1)
the administration as an import
Georgia Mills; Princess in Dis
guise, Alvalu Cleveland; White ant social welfare and efficiency
Rabbit, who stole the whistle, measure having only minor ef
Edgar Culbertson; Robin Red fectiveness in production control.
2. Any adjustment program to
Breasts, Middleton Crawford and
Leonard Kostur; Elves, Eugene be undertaken by the administra
Cleveland, Frank Rose,
Dean tion must be for the dairy indus
Lionberger, George Christiansen, try as a whole, must be voluntary,
Leonard Kostur, Freddie Shoe and must not discriminate be
maker, Clarence Whitlock, Middle tween groups of producers.
3. Under the law processing
ton Crawford, Edgar Culbertson.
Songs and dances: Elves song, taxes cannot be levied until or
entire fourth grade; Dream song; unless a decision is made to pay
Chorus of Elves, Elves and chor benefit payments to individual
us; Butterfly dance, Marie An farmers to compensate them for
drew, Bettye Froembling, Elsie cooperation in production control.
Killian, Esther Williams; Butter
fly song, fourth grade; Solo,
“Night Time in Nevada,” Frank
Rose; Solo, “The Old Spinning
Wheel,” Frank Rose.
AAA TO WATCH AND WAIT
UNTIL DAIRYMEN AGREE
A more detailed statement set
ting forth the position of the ag
ricultural adjustment administra
tion in abandoning, for the time
being at least, its dairyi adjust
ments program has been received
by the extension service at Ore
gon State college, indicating that
the national officials are determin
ed on a policy of watchful wait
ing until such time as the dairy
industry can get together m sup
port of a practical program.
Before the AAA launched ad
justment programs providing for
benefit payments for the cotton,
wheat, tobacco, corn and hog pro
ducers, leaders were largely unit
ed in giving their support. With
the proposed dairy program, on
the contrary, opposition under
centralized leadership developed
even in advance of the regional
meetings, the official statement
sets oui.
«fi
Reports of the 15 regional
meetings showed that sentiment
largely unfavorable was expres
sed at Syracuse, Philadelphia and
Atlanta. Favorable reaction was
had at Indianapolis, Des Moines,
Dallas, Denver and Portland. Mix
ed sentiment was heard at Madi
son, St. Paul, Kansas City, Bos
ton, Salt Lake and Berkeley.
A number of local conferences
have been held by
producers
since the regional meetings, the
Washington officials report, in
which the farmers’ primary in
terest in fair prices reflecting a
balanced supply, contrasted with
the handlers’ primary interest in
volume has been brought out.
The AAA now defines its posi
tion in four statements which in
condensed form are as follows:
1. The scope of immediate as
sistance is limited to reduction of
Special —-
Butter Muffins
AND
Cream Puffs
Classified Ads
County
Commissioner
FOR SALE
We expect to sell our home with
in the next three weeks for the
best offer. We also have for sale
a small house and one acre of
land adjoining our residence at
less than half the cost to us. J.
B. Wilkerson.______________ 18c2
If I am nominated and elect
ed I will during my term of
office serve the people of
my county to the best of
my ability and administer
the duties of my office fair
ly and impartially with due
economy.
NEW ZEALAND DOES with Ut
ter* |2.50 each or will trade
for cook stove or dining chairs.
Mrs. R. L. Harris, old Nickerson
place.
18c 1
FOR RENT
Modern four-room house for rent
near high school. Fred Over-
son.
18*1
FRIDAY, MAY 4, 1934.
VERNONIA EAGLE. VERNONIA, OREGON
PAGE EIGHT
Resident Columbia county
almost my entire life.
1 Road supervisor four years.
1
A vote for Foster is a
I vote for a “SQUARE DEAL
AND ECONOMY.”
—Pd. Adv.
Be sure to ask your
grocer for . . .
Milk Bread
MADE IN VERNONIA
VERNONIA
BAKERY
4. Large scale stabilization op
erations are not included in ad
ministration plans since experi
ence shows that unless they are
accompanied by control over pro
duction they result in increased
production and a relapse in prices.
1
FOR FRIDAY AND SATURDAY, MAY 4 AND 5
SUGAR
1
FLOUR
$1.69
Safeway, best hard wheat ...... 49-Lb. Bag
COFFEE
6OC
25c
Airway, pure Brazilian blend ............. 3-LBS.
MILK
Max-i-muM, tall cans ............... ......... 4 CANS
Jell Well
........... PKG.
5©
All Flavors ...................................
CRUX
Oleomargarine ........................... ..........
POUND
Cigarettes
Camels, the popular brand ..... ......... 2-PKGS.
POTATOES
U.S. No. 2’s, 100-lbs. 89c .. ..... 25-LBS.
Bananas
Firm ripe fruit ...................... .................. LB
LEMONS
Fancy 360 size .................... ...... DOZEN
Spinach
Nice, large, clean leaves .... ....... 4-LBS.
JELLO
Assorted flavors—Pkg.
COFFEE
Maxwell House—Lb.
OYSTERS— Daufusky
5-ounce cans—2 for
r
tJ V
9c
25c
25c
6c
23c
10c
FRIDAY IS
FAMILY
29c CIRCLE
4A r
DÀY
ASK FDR YOURIOPY
RAISINS— Seedless
3-Lb. Cellophane Pkg.
23c
4