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Show BEAR RIVER VALLEY LEADER. THURSDAY. JULY 25, 1933 PAGE SO. i Mangold Ways in Which the Banks Are Serving the Natiot Handling Millions cf Transactions Daily for Individuals, Co porations and State and National Governments The jf Structure Strengthened and Deserving of Public Faith By FRANCIS MARION LAW, President American Banker Association banks of the nation provide the terest rate ever been so low. Every sound business in the country today through which pass can get what money it needs. daily many millions of checks and drafts, aggregat A Return of Normal Lending ing hundreds of Banks are badly needing loans tor millions of dol- revenue purposes, and now that confilars. dence in banks has been largely reThe banks are stored they are naturally returning to largely financing a more normal lending policy. Before the Federal Gov- tbe bank holiday the confidence of the ernment in its people was shattered. The thought upProgram, permost in the minds of depositors was involving the tbe safety of their funds. Withdrawals greatest peace- from banks became increasingly heavy time expenditures and general. Under such circumstances ever known. the banker, mindful of his primary reLikewise the sponsibility to bis depositors, was more banks are largely concerned in the collection of loans F. M. LAW financing the cur than in the making of new loans. Tbe rent credit needs of states, counties, result was a severe contraction of credcities, public schools and other polit- it. For this the banker should not be all of which have inical blamed. He simply performed his manitimately to do with the daily affairs r ' fest duty. all of the people. Bankers at this time are very prop Each day banks throughout the counerly viewing tbe credit needs of busitry are making hundreds of thousands ness with serious and sympathetic conof new loans and they are renewing sideration. Applicants for loans are not and extending old loans for the accomalways familiar with tbe rules govern modation of a "ast number of borrowIng bank credit and constructive and ers, these borrowers being Individuals, interested help on the part of the bankand er will corporations and partnerships bring about the making of many their loans being incident to agriculadditional loans, without doing vio ture, industry and trade in every comlence to any principle of good banking. munity in the land. Certainly no one would advocate the The banks, through their trust de- making of unsound loans by banks. Tbe partments, are continuing the work creation of a large volume of unsound which they have faithfully carried on loans would not only weaken the banks throughout the depression and are proIt would prolong the depression and tecting trust funds placed In their care wipe out some of the gains already against the worst shrinkage of values made. It Is to be earnestly hoped that ever known. Included in this activity is no banker will yield under the pres the service the banks are performing sure of his deeire for earnings, or for in connection with administering tlu any other reason, and make loans of affairs of widows and orphans. the wrong sort. John Ottley of Atlanta, The banks, through the medium of in a recent address, said "The plan of their savings end thrift deposit departand hoping for the best lending freely ments, are furnishing safety for the has never wise." proven accumulations of many millions of needs for credit of are There many people and on this class of deposits kinds which are not within the province reasonable Interest is paid. of commercial banks to meet. Likewise Banks an providing a service for the of credit, but of the there are many types and of credit faalso are there many types a possessions, papers and securities of it would availablecilities enough, very large number of people. to meet the requirements of all seem, are unstintedly The officers of banks classes of worthy borrowers. and unselfishly giving advice and counThe Duty of Every Banker sel to the people of their communities, extent guidIs considerable It a to thereby clearly the duty of every banker In the country to perform certain ing their daily financial and fiscal affairs during this most difficult period services. The most important are: 1. To afford perfect safety for deof disturbance. posits. The Banking Structure Strengthened 2. To grant credit to those who de The banking structure as It is today serve it. and the baa been greatly In the matter of credits the public on. still of goes process strengthening must in fairness remember that comBanking is not a closed science. The mercial banks are uot lending their banking system "hlch we have had own of their detbe but money money, 1 was not good enough, and earnestly very largely by positors, represented believe that an able end of the peoand the savings earnings commission should be set up to make who own these deposits a ttudy of our numerous banking laws ple. The people them through years accumulated have to the end that a properly correlated of labor and sacrifice, and in many be out worked system might banking and submitted for consideration to the cases the deposit represents their al.. These depositors have the right to call next Congress. or at most include would Agood system rigid for their money at any time, on short uotice. Deposits constitute a requirements as to management, insacred trust. telligent and impartial supervision and. There are certain basic principles in in due time, unification of supervision. sound banking that must be held onto of banks Such a system, composed in even this period of change, but the adequately capitalized, capably manbanker must be responsive progressive aged and conscientiously supervised, conditions and he must be to changtng would eliminate any possibility of a recurrence of what has happened in active in seeking proper opportunities to meet the sound needs of his custhe past four years. tomers. The temporary Federal deposit InIn a recent message to Congress, the surance plan under which deposits in President said "1 am greatly hoping banks up to $2,500 for each account In are insured has been in effect for six that repeated promises that private reto Initiative and vestment private months and has proven a potent factor immediate in reetorlng confidence. Only two small lieve the government in the which burden much of the of future banks out of over fourteen thousand fulfilled." will be assumed It has In have the fund holding membership Repeated assurance has been given failed during this six months' period. Is no The temporary plan has been extended by the Administration that there to continue governIts on deeire part vory wisely for a year, and the amount ment lending a moment longer than Is of the Insured deposit has been increased to (5,000, thus insuring In full necessary and that at the earliest posover 98 In number of the depositors sible time the government will gladly give way to he banks and other lendIn the country's bank. Hoarded money is returning to the ing Institutions. This, of course, is as banks and deposits are showing a vast It should be and ws are all earnestly looking forward to the time when pri Increase. Banks everywhere are super vate Initiative and enterprise shall have liquid, meaning that they have an units vitality suffiicently to recovered deof their usually heavy proportion crutches away. throw government In cash. There are two kinds of posits Numerous bank failures have ere unemployment In this country unemexployment of men and unemployment of ated In the minds of many a grossly of de losses to as the dollars. These men and these dollars aggerated Idea must Je put to work. Banks In strong positors In closed banks. The record and highly liquid condition are pre- Indicates that depositors In banks which closed In he past three years pared and determined to do their propwill realize on an average about 85c er part in putting money to work. on the dollar. That would mean a loss Requisites for Grants of Bank Credit of 35. It has been estimated that durThat brings me to the all Important ing the depression the average value question of the granting of credit by of investments in stocks lost about banks. Two things are necessary to bonds similarly declined approxl Increase bank credit: and commodities mately 60 1st The banks must be liquid and Deposits In sound banks continued confident In their own strength. to be worth 100 throughout the deof the bank deposits 2nd. Business men must further lay pression and 90 their fears and regain confidence to of the country were not affected. the point where they will dare to think Bankers Deserve Confidence and plan ahead. The country can have full confidence The first requisite Is accomplished. in the Integrity and competence of the The second Is In process. Bank credits bankers of the country. Out of the les will Increase and money will go to sons of the last few years has come work as soon as business men get over experience that will be valuable to the their disinclination to borrow and this banker and to his community He can will be when they begin to see profits be counted on to show a proper appreciation of his responsibilities and o! , within their reach. ' la past depressions the real move ligations and to take bis plure among In bank credit those who are making earnest and un i mcnt of the expansion has always come after general business selfish effort to promote recovery. He Is net Infallible, but with every power recovery got under way and not before Tbe number of good credit risks In In that lies within him I believe be may creasing dally. Not In my time have be depended upon to fulfill his duly as a custodian of the people's money, ss good borrowers been so warmly welcomed at banks as they are today. Nev a dispenser of credit and as a God er before has there been such compe- fearing American Citizen Imbued wit! tition tor good loans, nor has the In sincere regard for the common go TIE s, safe-depos- . PENROSE ed. JULY THE JOYFUL and Canada, Russia, United States in celebrations France have joyful celebrates July. The United States 4th. The her independence on the Russians celebrated In carnival style of this year the thirtieth anniversary 14 On Constitution. July the Soviet of France went gay over the thought BasUle of the he successful storming one hundred and forty years ago. difFrance this year burlesqued the ference between her political fractions The human funny bone may yet save the breaking of many human body bones. RCtld EAST TREMONTON When Hubby Rules The Roost" Mr. and Mrs. Alvln Hansen of California, are visiting here with Mr. and Mrs. C. E. Miller, Mr. and Mrs. Geo. Miller and Mr. and Mrs. WUford Miller and other relatives. Mrs. Hansen's daughter, Mrs. Dell Fife, Is visiting here also. Mrs. Wllford Miller and Mrs. William Miller were visiting relatives and friends in Plymouth Sunday. Mr. and Mrs. Lenard Petersen and family and Mrs. Fred W. Petersen and daughter, Jewel, and son, Scott, spent three weeks in Butte, Montana, visiting with Mrs. Petersen's sister, Mrs. D. M. Petersen and other relaYeltives. They returned home by ena very and report lowstone Park joyable trip. Mrs. Alvin Hansen, Mrs. George Miller and George and Merlin Miller were Brigham visitors Monday. Miss Ethel Poulsen of Brigham, Mrs. spent the weekend with Mr. and Stanfill. Starlin Mr. and Mrs. Morgan Miller and Monfamily were Brigham visitors day. n Mr and Mrs. Jack Leak are near-ibrick new their the completion of as home. They expect to move inaddsoon as the finishing touches are the Want AdS I I IA NsLl iMh W , i Bottled beer, sandwiches, pretzels and cheese make a meal any man will rave about. is wife the hubby ham, goose liver, salami, cold chicaway, "YHEN will play," and usually it re- ken or turkey, Dresden ham, a few sults in the husband inviting a slices of American brick cheese, a crowd of his cronies in for an eve- jar of pickled onions, tomatoes, jar ning of poker. Of course, on such of small pickles, pretzels and pooccasions hubby "rules the roost" tato chips. even including the kitchen, w hich Young Adams serves the white normally is the sacred domain of and rye bread on a large platter, his wife. already sliced along with the butter and mustard, thereby saving Many men who belong to a himself the time and trouble of group who hold a weekly "session" making all the sandwiches. are often puzzled as to just what There is never any doubt as to to serve the boys when it falls the to be served because their turn to be host. Ed Adams, with beverage such a typical Dutch lunch popular young Toledoan, solves thn anything but bottled beer .would be problem and at a minimum of ex- out of place. Adams usually orders pense to the family budget. a case of bottled beer the day beHis choice of the "food men like" fore the "big event" so he is assured Is as follows: A plate of assorted of having plenty of "cold ones" on cold cuts of meat including boiled hand to serve with the lunch. M By Mrs- - P. E. Ault l f h? J - County Treasurer and Mrs. O. L. Brough and children visited In Salt Lake City Saturday with Mrs. Brough's mother, Mrs. Toone. Miss Alice Brough remained for a week and Miss Agusta Brough who has been attending summer school at Provo, met her parents at Salt Lake City and returned home with them. Thomas Kay went to Salt Lake City Sunday evening to be present at the Pioneer Day celebration. Mr. and Mrs. Austin Seager left Friday for Sugar City. Idaho, for a brief visit with Mrs. Seager's relatives. Miss Katherine Abbott rturned on Tuesr'ay from her visit with her sister, Mrs. John Barnard of Fillmore. Harvey Ault attended the air circus in Ogden, Sunday afternoon. Marsh Abbott of Morgan, is spending this week with his uncle, Lewis Abbott and family. Mrs. Jane Abbott returned to Salt Lake City Wdnesday. Miss Dana Jean Abbott accompanied her grandmother and will visit for the next 60 days. Mrs. Charles Peterson took her mother, Mrs. Mary Checketts of Logan, to Salt Lake City, Monday, where she will undergo an operation on her eyes. Mrs. Peterson came home Tuesday. George Abbott and son, J. T., and nephew, Richard Tibbetts of Logan, are enjoying a fishing trip to Star Valley this week. Elmer Anderson returned from a trip est Friday. He, in company with several friends, visited as far east as New York City, on their return trip. They brought back several new cars from the factory. Elmer Anderson went to Malad on Saturday to take over the management of one of the service stations there. A whole lot of cities are long on good starters, but short on good You Want to Save When Shopping, Read the Ads In This Newspaper You may be cool enough but your motor is hotter than Death Valley! safe-keepin- g n 90; ll Pgr?' , : Protect your motor with Germ Processed Oil! 2 to 4 times greater film strength than plain mineral oil even at motor heats of 225 to 425 degrees off as you drive, but cool BREEZES may runs you at terrific heats from 225 in the craakcase to 425 in the cylinders. To protect your motor, your oil must have extra film strength and maintain it at these high temperatures. Otherwise, the lubricating film ruptures and the bearings and cylinders suffer damaging wear. Plain mineral oils have little film strength and oils by the new cleansing methods have even less. Moreover, these oils rapidly lose film strength as motor heat goes up. You can protect your motor far better with Conoco Germ Processed Motor Oil, for tests over-refine- d 65. ERM on the Timken Machine prove that at high motor temperatures it has 2 to 4 times greater film strength than any plain mineral oil! More proof supervised road tests were made in identical cars fitted with the new alloy metal bearings used in many 1935 cars. The bearings lubricated y with a plain mineral oil showed 45 more wear than those lubricated with Conoco Germ Processed, the first alloyed oil. d Say "O. K. Drain" fill with Germ Oil. Drive far drive fast without a high-qualit- Pro-cesse- worry! PROCESSED MOTOR OIL S21875 CONTINENTAL 60T." OIL COMPANY'S ANNIVERSARY I f-K- n 1935 |
