OCR Text |
Show HURRICANE BANK ELECTS OFFICERS Hurricane, Utah, Jan. 10, 1934 At the annual stockholder's meeting of the Stafs Bank ot Hurricane held at the bank building build-ing on Tuesday, January 9, 1934 ine following directors and officers offic-ers were elected: David Hirschi, Chauncey Sandberg, Morris Wilson, Wil-son, Jr.. Henry Gubler, James Jennings, A. P. Spilsbury, O. J. Shelter. David Hrischi was made president and Chauncey Sandberg Sand-berg vice president for the ensuing ensu-ing year; Claud Hirschi cashier and Maude Lemmon assistant cashier. The cashier's annual report showed a very healthy condition of the bank and he answered inquiries in-quiries of some of the stockholders stockhold-ers regarding Deposit Insurance by telling them that we had received re-ceived advice from Walter Cum-mings, Cum-mings, head of the Federal Deposit De-posit Insurance Corp., that the "State Bank of Hurricane" was approved . for membership. This means that the deposits of our patrons are now insured for $2500.00 each. "Deposit Insurance" chairman Cummings said last week, "should have a stimulating effect ef-fect upon business throughout the country. In the first place it should forever end the fear of runs' on banks which are members. mem-bers. Moreover, it should return large sums from hoarding, make it unnecessary to parry such large cash reserves, free credit, and relieve re-lieve unemployment." |