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