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Show The MIDVALE JOURNAL BANKERS IN t~ATIONAL l10VE FOR UNIFOR~A FINANCIAL PRACTICES I WEST JORDAN STAKE Would Promote Greater Consistency Among All the State Laws in Respect to Banking Conditions -Uniform· ity of Practice and Understand ing Will Make for Greater Convenienc e, Efficiency and Safety for All Business. Wednesday, January 30th, the M. I. A. met to further the dancing of the Gold and Green Cotillion. There were representative couples from Riverton 1st and 2nd wards. South and West Jordan wards, Mrs. Elsie Brandly, a member of the General Board was present and assisted in the work. It is hoped at the next rehearsal of this dance a larger number will be present. By S. J. HIGH The Quarterly conference of the 4 President State Bank Division, American Bankers Association West Jordan Stake was held Saturday A£D interchange of business and the quick transporta- and Sunday, February 2nd and 3rd in ti n of goods in the United States, coupled with almost in- the Riverton 1st Ward chapel. The stant eous means of inter-commu nication by telegraph, tele- congregation singing "We Thank thee Oh God, for a Phophet" Prayer was ' ._ phone and wireless, have welded the coun· offered James A. Bateman. Pres. --,<'.v.··:::<<>-·>·»:« «M•try into an economic unit. The nation is not, David T.byDahl was the first speaker ' "' ' in a business sense, conducting its affairs in giving a report of the work of the water-tight compartment s, as in a measure High Council, Bishopric's and the it did in the days of slow travel and remote home missionaries. Dr. S. C. B. places, but styles, methods, commodities 1Sorenson reported the work of the M. Wm. J. Leak and Verand business practices flow freely today in [ I.nalA.C. Bishops Webb, repo.rted the work done all directions. Therefore it is desirable the past year in their respective that finance, trade and industry throughout wards. Elder David A. Smith a member of the country operate along generally unithe Presiding Bishopric represented form or at least consistent lines, so that a· the General Authorities gave some contract or an agreement or obligation in ~triking examples of how to appeal to connection with business transactions shall the young men. lone Nelson sangmean virtually the same thing in all parts of "That wonderful mother of mine and the country. Particularly necessary in thi~< I'll go where you want me to go" A connection is the establishmen t of uniform Ladies Chorus rendered two numbers. financial and banking practices so as to fa. "Grateful Lord Am I" and "Silver light." Closing prayer was by cilitate the flow of trade along accepted and Moon Christian Madsen. S.v HIGH R • l understood lines. Banking in the United States is recog nized as a semi-public type of business and is therefore sub ·· ject to laws to define the scope and character of its activities These laws at present set up a great diversity of condition8 onder which banking Is conducted in various parts of the country since they come from both state and fed· era! authorities. The national banks are all chartered by the federal government and therefore operate on the " •arne lines In every state of the Union, but there Is no such regularity In respect to the conditions under which the state banks chartered by the respective forty-eight states must conduct their business. All state ' banking codes, while they have simi· larltles, also have many great dlssi:ni· laritles In respect both to the national bank laws and the banking laws •covering state bank operations In oth· er jurllidlctlonll. Bankers Move for Uniform Laws The State Bank Division of the American Bankers Association, which tatter Include!! in its membership banks of all descriptions throughout the country subject to all the variations of state and federal banking taws, Is committed to the efl'ort to bring about greater consistency and uniformity among the statutes of all these various jurisdictions. This body Ill conducting a vigorous nation-wide campaign urging that active steps be taken to secure greater co-ordination in banking legislation, more equitable conditions and more uniformly effl· clent public supervision of banks In the several states. - '~> The organization Is particularly con· cerned with fostering this movement to bring about more uniformly desirable conditions throughout the United States in respect to the public super· Tlslon of banking Institutions by the atate banking departments. It is on record as favoring the policy that the Important office of state bank commis· 1loner should be kept as free from entangling partisan polltlcs as the ju· dietary ltselt and should be complete· ly detached from all other functions of state government. It Is also on record as favoring the • 110llcy that the tenure of office of state bank commissioners should be made more secure and lasting than Is now the case In many state jurisdictions • and that this important public officer be granted sufficient compensation and discretionary power so that the omce shall attract and retain the serv· lees of men of outstanding executive ability and successful banking expe· rience. It 111 also a p-art of this J.>Ollcy that the bank commissioner's ability to serve well should be strengthened by providing him with adequate forces or bank examiners, selected on the basis of merit from men having the requt• alte qualifications of honesty, ability, tTalnlng and banking knowledge to • carry out the duties of their offices on the highest plane of usefulness to the pul;lllc as well as to banking ... The Trend of State Laws • - The A3soclatlon's State Bank Dlvt· elon has recently concluded a nation· wtde survey of state banking leglsla· tlon 8Jld conditions and In general has discovered a dellnlte trend along Lhe following lin&!!: Thera 111 a distinct tendency among the lltatea to raise the minimum cap!· tal required tor banking Institutions to $25,000 and also to give the bank commissioners or the banking boards sole J)Ower as to the granting of char· ten for new banks, thus enabling them to use discretion ao to the neoo or desirability of added banking facfll· tles'or the fitness of the organizers td enter the banking field. In this con· nectlon many states are creating banking boards to act In an advisory capacity with the state bank commls· slonera. There bas also been observed a tendency to increase the compensation of the bank commissioners and to lengt.hen their terms of office and to ciTe them J)Ower to appoint necessary deputies and examiners so as to build up an ai!Pqnate force to carry out their responsibilities and duties An lmpor· t.ant ..&U,KmentatiOD Of the J)OW8(.1 ol ~·>--------------- bank commissioners In some states If found In laws giving them complet• charge of Insolvent banks and theh liquidation as distinguished from mor• costly liquidation through the courts In the Public Interest Distinctly In the public Interest ar• Ia ws prohibiting or limiting an office1 or director of a bank from borrow1nf from his own bank unless his col lateral security Is approved by a rna jorlty of the board of directors of thr bank. Also there Is recent legislation noted providing for closer supervision and regulation of building and loan associations, credit unions, finance companies and private banks. In some states measures have beer enacted broadening the field for tn vestment of funds of savings bank> and trust companie3, which have rna ter!ally enhanced the service that these Institutions can render, parttcu larly ln the way of co-operation wltl their customers In personal tlnancla management. Another type of leg!~ lation, Important especially to bank lng In view of the frequent efforts t< · defrau!} banks, Is that which make} the Issuance of worthless checks ~ misdemeanor w1th specific penalties. The State Bank Division of th• American Bankers Association en dorses in the fullest degree In J.>rlnci ple the development of banking law> along the foregoing lines and is active ly engaged In fostering the spread ol such legislation wherever Its services are considered useful both to banking and to the public. Uniformly sound banking Institutions and practices, to gether with common methods and un derstandlng, will materially add to thr convenience, efficiency and safety ol business In serving the well-being ol the public In all parts of the nation especially In those transactions lnvolv lng dealings between different locali ties. AMERICA LEADS THE WORLD IN SAVINGS The past year saw the greates1 gains In savings In a single twelve month ever recorded In the United States, bringing the total savings d~ posits tn banks to over $28,400,000,001 on June 30, 1928, held In more than 63,000,000 Individual accounts, it h reported by the American Bankers A~> soclation. These are the biggest fl11 ures In this t!eld shown by any coun try In the world. These figures are Indicative of prof perlty more general than any tfm, since the business depression of 1920 the report declares. Only three state~ railed to show a gain and the 192' volume of savings constituted an In crease of more than $2,327,000,00f above the 1927 figure. The gain pp Inhabitant for 1928 over 1927 was $1 · and the gain In number of savings df' posltors was 2,496,079, an lncreas. of 5.2% a., against a growth In th• population of the country of 1.2%. The gain In sa.vlnga per lnhabitan tn New England and the Middle At !antic states over the previous yea was $36. These groups of states, witt 29.9% of the population of the Uniter States and 52.8% of the total saving, dei)Oslts, have the largest savings ratf $461 per Inhabitant, of any area In th world. The per capita savingw tor tb1 United States as a whole this yea lltands at $237 as compared with $22 last year. "An acre of alfalfa for every cow I Howard County, Iowa," Is the sloga adopted by the county bankers ass< ciaUon there after watching sever: hundred thousand dollars go out ~. their county last winter for feed. The H. R. G. dancing club enjoyed cheon was served. a social at the home of Mr. and Mrs. I Mrs. Alfred Furse spent Tuesday Alfred Furse Sunday afternoon. Lun- I visiting at the home of Mrs. Mary Saturday afternoon the conference continued by the congregation singing "Oh, Ye Mountains High" Wm. C. Turner offering the opening prayer; Pres. A. T. Butterfield dwelt on the need of righteous li.ving. Eva Crump of Bluffdale sang "Lay my head beneath a rose." Reports of the Auxilliary organizations were given by C. Palmer of the Religion class. Mary J. Pixton, relief Society, Joseph G. Green, Y. M. M. I. A., Mer! C. Kirk, Y. L. M. I. A. Ella M. Newbold, the primary. A Male Quartett of Bluffdale sang "There's A Beautiful Country." Mr. and Mrs. Stuart Eccles and Norma Wood sang "The Rosary" John C. Richards closed with prayer. Sunday morning the Herriman ward choir furnished the singing. The con gregation joining in singing "Oh, Say What is Truth." Pres. Joseph M. Holt spoke on "The Sabbath." The missionaries reporting were Lawrence Dahl, Clarence L. Palmer. Solo, rendered by Mrs. Delila I<'l ceman. Elder Smith addressed the saints on "Proper Example of Home Life" choir sang "Oh, Lord our help in ages past" Opening and closing prayer were offered by A .. 0. McMullin and David Bills. Sunday afternoon the conference opened by the congregation joining with the Riverton 1st ward choir in singing "Praise to the Man" W. S. Dimond offering the invocation. The choir sang "if you could Hie to Kolob" The General and Stake Authorities was presented for the sustaining vote. Charles Schmidt was released as Stake Choister. Lee A. Palmer was appointed to succeed Elder Schmidt. Genevieve Gardner lately returned from the Canadian mission reported her labors there. Samuel A. Holt reported the activity of the 95th Quorum of Seventy. Elder W. H. Ohwi- The man .vbo gets Into the bablt of never mnking ml• takes ta ultogether too near perfect for thll! world Ier reported the 1st Quorum of Elders Duet "The Morning Breaks" by Orrin Crump and Joseph G. Green. W. W. Malstrom reported the Lesser Priesthool work. Elder Smith gave a detailed outline of the new plan for the activity of the Quorums. Choir renlered the anthem "Beautiful Zion for Ivre." Sunday evening the meeting was under the Auspices of the M. I. A. f<Jlder Culimer from the B. Y. U. gave a splendid address on proper living by vbedience to the word of wisdom. Mu sic was under the direction of Donald Jessup. Pres. Holt adjourned the con ference for three months. The General Union meeting of the Stake will be held Sunday February 10th, at 2 p. m. in the South Jordan ward chapel. Coming to SALT LAKE CITY DR. MELLENTH!N & CO.'S SPECIALIST ln Internal Medicine for the past fifteen years DOES NOT OPERATE Will be at CULLEN HOTEL SATURDAY, SUNDAY & MONDAY FEBRUARY 16, 17 and 18th Office Hours: 10 a. m. to 4 p. m. THREE DAYS ONLY No Charge for Consultation The specialist of Dr. Mellenthin & Co. is a regular graduate in medicine and surgery and is licensed by the state of UTAH. He visits professionally the more im portant towns and cities and offers to all who call on this trip free consultation, except the expense of treatment when desired. According to his method of treatmcnt he does not operate for chronic appendicitis, gall stones, ulcers of the ' stomach, tonsils or adenoids. He has to his credit wonderful resuits in diseases of the stomach, liver, bowels, blood, skin, nerves, heart, kid ney, bladder, bed wetting, catarrh, weak lungs, rheumatism, sciatica, leg ulcers and rectal ailments. If you have been ailing for any length of time and do not get any better, do not fail to call, as improper measures rather than disease are very often the cause of your long standing trouble. Remember above date, that consultation on this trip will be free, and that his treatment is different. Married women must be accompanied by their husbands. Address: 224 Bradbury Bldg., Los Angeles, California. YOUR NEW SUIT WITH EXTRA PANTS FREE I MADE TO YOUR ORDER That extra pair gives you the wear of two suits for price of 1 Beautifully Tailored ALTERATIO NS Friday, February STATEMENT OF OWNERSHIP, Mrs. G. J. Bateman and children MANAGEMEN T, ETC., REQUIRED of Salt Lake are spending several BY THE ACT OF CONGRESS OF weeks with Mr. Bateman's mother, Mrs. Lydia Bateman who is still on AUGUST 24, 1912 the sick list. Her sister, Mrs[ Min& Baird of Salt Lake spent Mo~y at Of The MIDVALE JOURNAL, pub the Bateman home. ' lished weekly at Midvale, Utah for October 1, 1928. State of Utah, County of Salt Lake ss gages, or other securities are: Midvale State Bank, Midvale, Utah. Before me a Not~ry Public in and for the State and County aforesaid, Intertype Corporation, Broo,klyn, N. Y personally appeared P. S. Roberts, P. S. ROBERTS, who, having been duly sworn, accordBusiness Manager. ing to law, deposes and says that he Sworn to and subscribed before me is the Business Manager of the Mid- this 30th day of January, 1929. vale Journal, and that the following CHARLES SCHMIDT is, to the best of his knowledge and (SEAL) Notary Public. belief, a true statement of the owner- My Commission Expires ship, m&Dagement, etc., of the aforesaid publication for the date shown in the above caption, required Act of August 24, 1912, tm.tuu•u11.4 Section 411, Postal Laws and lations, to-wit: 1. That the names and lH1<1res' the publisher, editor, managing and business managers are: P. S. Roberts, Midvale, Utah. 2. That the owner is: Jordan Publishing Co., Inc., • Dr. A. J. Hosmer, Midvale, A. L. Anderson, Midvale, Utah. Dr. H. E. Nelson, Midvale, Utah. Leon L. Olson, Midvale. Utah. P. S. Roberts, Utah. 3. That the known mortgagees and other security ers owning or holding 1 per cent more of total amount of bonds, . - FREE HOMES FOR HENS FREE W E HAVE one hundred only THIRTY TWO PAGE books with plans for HOMES for HENS. These BOOKS sell for twenty five cents for the single copy. We will distribute these one hundred copies to those who ask for them FREE. No matter if you have the most up to date poultry houses, you will gather some information from these books that will be of great value to you. COME IN and ask for a copy of HOMES FOR HENS -it will cost you nothing. WE SELL DR. HESS PAN-A-CEA and other POULTRY SPECIALTIE S . WEST JORDAN LUMBER COMPANY 114 N. Main Street Phone Midvale 212 "If It Goes In The Home We Sell It" "Entering Our 26th Year In Business In Midvale" : : : : Tires for the new Ford are speci ally made to give long wear $25 and UPCleaning Satisfaction Guaranteed and Pressing • Free Tickets with each 25c purchase on Rogers Silverware H. F. Midvale. Utah Rasmuss~n, 61 West Center St. Phone 117-W 7 ' Tailor Midvale, Utah NEW MA JES TIC I AND ATW ATE R KEN T iiAD IO All MODELS TERMS • BATTERY SETS CHEAP alilill*!lilil!ilillilillilil!ilil~3E;§1E~~~tmB&ffiffi ASK FOR A DEMONSTRATION ~~~!ilil!ilil~!ilil~~!ilil~~!ilil~ ectric We Give You Prompt and Expert Service On Your Set MIDVALE Phone Midvale 272 UTAH WHEN the new Ford was de· signed, it was immediately apparent that a new tire would have to he made to match the car's performance. It was distinctly a new problem, for here was a car with quicker acceleration, greater speed and more braking efficiency than any car of similar size or weight. So that every Ford owner might he assured of maxi· mum tire mileage atthelowest cost, the Ford Motor Company devoted many months to research and ~xperiment in conjunc· tion with the leading tire manufacturer s. As a reault, certain defl· nite specifications were developed for tires for the new Ford. These specify cords of certain strength and texture, a large volume of tread and side-wall rubber, sturdy nonskid design, and reinforced plies for protection against bruise breaks-al l the strong features of construction formerly considered for only the largest tires. Great care also was taken to ~~ecure the bestriding qualities in connection with the transverse springs and the Houdaille ahock absorbers. Though the Ford tires are designated as 30 x 4.50, they have the resiliency and air space of much larger tires because of the drop center rim of the steel-spoke wheels. For best results, the tires on the new Ford should he kept inflated to an air pressure of 35 pounds and checked regularly to insure this pressure all the time. This is important. Low in· flation breaks down the sidewalls of a tire. By causing overheating, it also destroys the rubber that acts as an insulation, with consequent Beparation of the cord. At the end of each 5000 miles, when you have the front wheels packed with grease, it is a good plan to have the wheel alignment checked. This will prevent premature wear. When punctures come, as they will with any tire, you will find the Ford dealer particularly well-equippe d to make repairs quickly and at small cost. See him, too, for replacement s. Then you will he sure of getting tires built specially for the Ford car according to definite Ford specificatioll8 . Fo~ MoToR CoMPANY |