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Show p 2 SOUTH EAST INDEPENDENT Sugar House, Utah Thursday, January 3. 1 957 Editorial Page . . . January 2, of the First Security Savings and Loan Association, with a 3'i per cent earning rate on all savings. The savings and loan operation will open in the new First Security Building on Main at Fourth South street in Salt Lake City. .First Security already has sav-ings and loan operations in Idaho at Pocatello and Idaho Falls, where the rate of earnings will be in-creased to 32 per cent on all ac-counts, beginning January 1. Increased Savings Interest Announced By First Security All 63 banking-- offices of First Security Bank system, including the bank in Sugar House, will in-crease interest on savings to 3 per cent beginning January 1, George S. Eccles, president, announced late Thursday. Mr. Eccles also an-nounced the opening .in Utah on "The new bank interest will apply to all savings accounts up to $2,500," Mr. Eccles said. "How-ever, the new higher bank rate of 3 per cent will be made available to both individuals and businesses desiring to save larger amounts, through savings certificates. These certificates will be available in multiples of $100, with no limit as to the total amount of savings. Certificates will earn at the same 3 per cent rate over a six months period from the date of issue." Mr. Eccles pointed out that while the new First Security savings and loan operations will not open until January 2, "savings placed by Jan-uary 10 in all our savings and loan branches in Utah and Idaho, will receive 34 per cent earnings from January 1." "The increase in our bank interest rates and the opening of additional First Security savings and loan operations were prompted by considerations beyond the pres-ent competitive interest situation," Mr. Eccles said. "First Security traditionally has been a principal supplier of mortgage funds in the intermountain region. During the past four years, for example, First Security banks have advanced well over $110 million for the construc-tion and purchase of homes and business establishments. In order to continue supplying the needs of this fast developing territory, all recognized methods of attracting and encouraging savings must be employed to meet these demands." (Continued on Page 7) SOUTH EAST INDEPENDENT 1123 East 2 1st South Dial IN 7-17- 32 Or HU 61 The South East Independent ii enter-ed as Second Class Matter March 1, 1946, in Salt Lake City Post Office . under the oct of March 3, 1879. It it published each Thursdary morning. South East Independent is published by The News Bulletin, Inc., and Sugar House Press, Inc., at 1123 E. Twenty First South St.. Sugar House, Utah. Subscription rates are $3.00 per year by mail. Single copy price is ten eenta. Publisher , Clair King Editor Emma D. King News & Information . Adv. HU 5-82- 61 CEMENT WORK DONE All kinds of cement work, base-ment floors garage floors, drive ways, patios, sidewalks, and sand-finishi- ng of basement walls (water proofing). Done by a dutch cement worker. Call INgersol FIRST SECURITY PAYS MORE FOR SAVINGS Beginning Jan. 1, 1957 BANK INTEREST SAVINGS & LOAN 3 on savings in any amount. Interest paid twice Savings & Loan is now available an addition a year-J- une 30, December 31. to First Security's complete service. -- ' Earnings distributed twice a year June 30, December 31. J Inquire at any office I mmmmmi BANKS SAVINGS & LOAN First Security Bank of Rock Springs, Wyo. 'insecurity Savings &LoMAocUtioaIdaho MtmbwtFDIO Bond Issues vs Interest The new crew taking over the ship of state is already feeling the pressures from the rough seas of finance and the gigantic waves of spending. Loans, grants, bonds, assessments, and new taxes have all been mentioned as means of getting new revenue to care for in-creasing costs and new projects. That the new crew will succumb to all these pressures remains to be seen. But a pay as you go system isn't too bad for many a project. For those interested in the bond-ing method of finance it might be pointed out that it has its draw-backs. Take for example the ex-perience of California as related in "We Bankers" by Andrae Nord-sko- g. "In February, 1850, our State of California issued bonds in the sum of $934.40 to pay for a granite slab to be placed at the 120 foot level inside of Washington's Mon-ument on the grounds of our Na-tional Capitol. "On the slab is the following in-scription: 'California, Youngest of the Union, Brings Her Golden Tribute to the Memory of Its Father.' "Our Golden State issued short term bonds bearing interest at the rate of 36 annually. In 1873 new bonds, in the amount of $2,227,500 were issued to retire the original bonds. Since that time the state has paid over $10,-000,0- 00 in interest but not one cent on the principal." Unless something has been done very recently the people of Calif, are still on the million dollar inter-est skids of a $934.40 bond issue. Hoover Dam was built at a cost of $160,000,000. But, the people paid $342,000,000. Why? Interest. Thomas Edison said "In all great bond issues the interest is always greater than the principal. All the great public works cost more than twice as much on that account." For those who are considering pushing bond issues to the fore as a means of financing upcoming projects we suggest a thorough study of interest. Keep Informed . . . The world is a stage, the people players, and the curtain is about to fall on one of the most troublous scenes. It is one which the fortunate folks of the Sugar House Southeast area have viewed mostly from tfar. To lend to this detachment of distance we have had an abundance of food in great variety. We have been well clothed. We have had work with return for our labors. We have been secure in our homes. Though our own little spot on the stage keeps us busy we cannot overlook the fact that remote na-tional and international events af-fect us as do the storms which, though spawned in the far off reaches of the Gulf of Alaska, in-convenience us from time to time. It, is an inconvenience, however, for which we are prepared because we have been informed as to the start and progress of the storm by an efficient and alert weather bureau. We have been, are, and can be prepared because correct information is given to us from those anxious for us to have it. But there is no reliable weather bureau charting the atmospheric vagaries of human affairs which at present are beclouded in a fear-some smog of uncertain origin and movement. You can be sure of one thing, though, and that is that there are plenty of self-appoint- ed pollsters, statisticians, prognosti-cator- s, columnists, analysts, poli-ticians, chambers, bureaus, and or-ganizations grinding out brain grist for us all. Thinking for us. Isn't it just about time we did a little thinking for ourselves? The tools of thought are facts, truth. Perhaps it is harder to get the tools with which to think than it is to think. But we believe not. Right here in our own community there are clubs and organizations, particularly among the women, de-voted to ferreting out truth. This is commendable. We urge men to become more active in the same pursuit. The best thing we can do for ourselves in the coming year is to keep informed. That takes no little amount of doing. But the re-wards are tremendously satisfying. And we will know that we have done our share in helping shape events that will set the stage of the world for generations to come. Reflection For A New Year There are only two days in every week we should not worry about . . two days that should be kept free from fear and apprehension. One of these days is yesterday with its mistakes and cares, its aches and pains, its faults and blunders. Yesterday has passed forever beyond our control. All the monMin the world can-not bring back yesterday. We can-not undo a singlelact we performed and we cannot erase a single word we said. Yesterday is gone. The other day we should not worry about is tomorrow with its possible adversities, its burdens, its large promise and performance. - Tomorrow is also beyond our im-mediate control. Tomorrow's sun will rise either in splendor or behind a mask of clouds . . but it will rise. Until it does, we have no stake in tomor-row, for it is as yet unborn. That leaves only one day . . . today. Any man can fight the bat-tles of just one day. It is only when you and I add the burdens of those two awful eternities . . . yesterday and tomorrow . . . that we break down. It is not the experience of today that drives men mad ... it is re-morse or bitterness for something which happened yesterday and the dread of what tomorrow may bring. Let us, therefore, journey but one day at a time. |