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Show niK page four TIMES-NEW- fUDLIG OPINION Local and Social AND THE BANKS By P. N. SHEPHERD Pxemtive Atumefrr A meriemm Bankers A ttociutie WHILE banking today shears In eys In ! Thursday. Local and Social MLvs Tom Cowan and Larl Sells left on Thursday for Chicago to attend Afton Hansen Is visiting In Sprlngvtlle this week. Monday. undoubtedly . A I... Mr. and Mrs A. V. Oadd have Jauudicud it t the past few days visiting In thB W0U,1 ap y lakes region. pear from cer the tain irresponMis Erw Sudweeks of Salt Lake sible orators, City Is at the home of Mr. often posing uit Mrs.visiting Brent I) Hall the guest at spokesmen 4 Jacqueline and Sarah H ill. ti J K- I called "the gill I'lll 1 mats" people. acta on the l of our part ot ures, but 1 can say without reera tlon that they were In no way typ leal of the acts and attttudei of tbe vast majority of tbelr fellow bank era. Tbe public mind was shocked Into the belief that these untypical Instances were far more represents, tlve than they really were, and this belief bas been encouraged by political anil demagogic elements. The bankers who are In charge of our banks today represent men who withstood the temptations sad avoided the economic pitfalls of the great boom. If they had not tbey would not be there, or their banks would not have been able to survive the rack and ruin ot the economic hurricane by which even many banks and bankers, whose conduct was above reproach, have been destroyed. The other types of bankers, those that fell below the high standards of professional ethics and business prudence that characterized those that remain, have passed out of the picture. But they have left for those that remain s difficult heritage of suspicion. How Irrational this Is, when we reflect that not more than three or tour per cent of our entire population suffered personal loss because of what any banker did or neglected to do, whereas literally millions of bank depositors did not lose a single cent as a result of banking difficulties and really owe a vote of confidence and thanks to their own bankers who were true to tbe highest conceptions of their stewardship and brought their Institutions and their customers safely through the greatest business disaster tbe world has ever seen. It has been a peculiar feature of the psychological distortion ot the times that many who owe nothing but gratitude to their bankers joined In blaming tbe banker far out of proportion with rational consideration of the facts. Springvi He vs WEDNESDAY 2 P.M. ADMISSION 1:1 some bankers formerly bava been tbe subject of spuctacular expos- Double Header Ladies Free 25c Colin Mayers. GrttnJ-ducid- P. N. Anti-socia- and daughter Muriel left Saturday for California to visit with Mr. and Mrs. fcfx-n- for that Indefl nlte quantity I Mrs. Theodore Harris m Mr and Mrs. Myron R. Moyle are rejoicing over the arrival of a son, born on Friday. July 6. Mr. and Mrs Wllford C. Cole and two children of Davus. Callfor-- i u are at the home of Mr. ml Mrs. Wnlord J. Cole. Tlu! MLsscs Emma Miller and Otella Lawson of Sclpio are spending a few weeks in Nephi visiting at th" of Mrs. Vra P. Howell and Mr. and Ma Oeorge McCune. Miss Oernldlr.e Caster left for Paniona, California for a vtiit. She will the guest of Miss Mi Kate Bowles. Mrs. F. M. Tit ck, Mrs N'elda Crowther and Mis-t- "t Joan Bigler. Tienna. Felma and Naomi ! I Bai- ley were In American Fork Monday evening to attend a party given at MUs MUdred Galbrailh of Ray-- ! tre nome or Mr. and Mrs. Albert who has Allen in honor of Mrs. Clare Chrts-tlunse-n, mond. Alberta. Canada, been the guest of Miss Zoe Powell, a late bride. Mrs. Christiandurin," the past month, left Saturday' sen was formerly Miss Relia Allen, for Los Angeles for a two weeks daughter of George Allen of this visit. ilty. 12, Ten Cent Table JUST RECEIVED Colgate's Cashmer Bouquet Soap Former Price 25c, Now Colgate Lip Stick Colgate Perfumes, Three odors Colgate Lip Ice Colgate Cashmer Bouquet Face Powder Colgate Cashmer Bouquet Talcum Colgate Vaseline Hair Tonic Colgate Vaseline Pomade Colgate Vaseline Camphor Ice Colgate Shaving Tablets Colgate Shaving Stick ..... Colgate Shaving Cream . Colgate Tooth Paste Powder Dental Colgate 10c 10c 10c 10c 10c 10c 10c 10c 10c 10c 10c 10c - 10c 10c Nephi Drug Co. Every item in this ad has had a genome price reduction to move k quickly. Why? Because Penney's does not carry over seasonal mearhandise; never aQows odds and ends, soiled or shopworn merchandise to accumulate. Penney first quality summer merchandise is being cleared at prices which make k much to your advantage to buy now with lots of summer still ahead. Clearance bargains are plainly marked throughout the store. Many are not advertised. Come early because quantities of many items are limited. . IN, THIS CLEARANCE AD WE WILL NOT ATTEMPT TO ENUMERATE THE MANY ITEMS THAT YOU CAN PURCHASE AT A FRACTION OF THEIR FORMER VALUE, AND TO ELIMINATE TOO MANY PRICE RANGES EXAMINATIONS FOR TRUST INSTITUTIONS tba British Islas. Continental Airican Coast the Oric.it many I tke world's most interesting places snillliln lit 111 in the iorrn oi picturesque Tillages! A host oi new buildings M miles el spectacular exhibits now treats in this colorful po ol a century s prcgressi I Sta economical in time and money. M yo go Tia Union Paciiic Railroad. Low round trip fares daily. In addition. redactions ererywhere, with vc- New Move by SEE ""fff - retara limits. Foe fall particulars see your local agent. ers' Organization obdin- servation cars, ing cart and can drawing rooms and compartments) on many Union Pacific trains this summer. m The NEW HOI TSE HOTEL m Distinctive Residence Mis. J H. Waters, President An Abode . . . renowned Throughout the West Salt Lake s Most Hospitable Hotel Indies You IBM Rates Siafte, ta to 4 Doufck tX0 to S4.50 400 Rooms 400 Bathe Federal Bank- ing Authorities Welcomed by Banks and Trust Companies, Says Bank- Hotel Newhouse W. X. BUTTON Oeneral Manager CHAUNCXT W. WEST Assistant General Manager examination of trust Is the latest development In banking supervision and trust companies and banks operating trust departments are welcoming this development because it fills a long-fel- t want, it Is stated by the Truet Division ot the American Bankers Association. Despite the growing importance of American trust business In recent years examining officials hare never given to trust departments the attention paid to commercial banking departments, this authority points out. Now the Federal Reserve System, In conjunction with the Comptroller of the Currency, has undertaken to bring the examination of trust departments np to the level of commercial bank examinations, it says. Experts in trust work are being employed by the various Federal Reserve Banks. These experts will head the special staffs of trust examiners In the twelve Federal Reserve Districts. Special staffs are already at work In some of the Reserve Districts, Including Boston, Atlanta, Richmond and Chicago. The Federal Reserve will examine d the trust departments of members of the System. PEDKRAL a departments state-chartere- Uniform Supervision Meanwhile, tbe Comptroller of the Currency has built up over the past two years a staff of special for the trust departments 'of national b a n k i . All national banks are members of the Federal Reserve System.. Since nearly all state chartered trust institutions are members the new plan will bring about what amounts to Federal examination for the trust business. State examining authorities probably will follow Federal supervisory policies to a considerable extent. Hence, coordination of the procedure of the national banking system and the Federal Reserve System Is expected to result In a uniform system of examinations for trust departments In all banks. This In tnrn should produce considerable standardization In the operation of trust departments. We Have Grouped The Clearance Items Into Five Price Ranges. You Will Find Many Items Grouped on Tables Throughout The Store at Prices of 5 THERE WILL SURELY BE SOME ITEMS ON THE VARIOUS TABLES THAT YOU ESPECIALLY AT THE SAVINGS OFFERED. CAN USE There are odds and ends of higher Priced Merchandise that will be offered in this Clearance. WE CALL ATTENTION ESPECIALLY TO OUR REMAINING STOCK OF WHITE SHOES and SPRING COATS WHICH WILL GO IN THIS CLEARANCE AT ESPECIALLY LOW PRICES fpa LipM N iss3 D E P A R T M E 1934 SEPARATE ARTICLES ON OUR rel-ati- distorted light tbe the Century of Progress Exposition. of snmi, the more reasoning Mrs. Jack Garbett Is visiting in elements IB Mr. an t Mrs. T. W. Ail.'iutn of Cedar City. 6he Is the guest of our population Provo visiH-- rtlativ-- in Nephi on Mr and Mrs. George Blackett. July One Hundred Eleven LaVern CiitLKM and Donna' Mr. and Mrs. Raymond T. Bailey re rejoicing over the arrival of s Cooper are viuung m Mount Pleas-- ! ' daughter, born Monday July 9. Mil this wee. s f Av .VEPIII. UTAH S. jI LI N T YG STORE be. |