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Show BEAR RIVER VALLEY LEADER, THURSDAY, MARCH 24. 183S any bank violating any provision of the act Senator Glass states that about 50 IGHLIGHTS I vtVGS THAT AFFECT AND TAX UJJ rira nTDCAL. NATION. INXEBNATION. lAiFMS INSEPARABLE foALWELFARE, 1 1 which has ,urrent Congress, in unproductiveness, vjo-- around to serious congested calen-of some of the Uie prospect ir.P"48 debate in years. jet "Sior measure now in and Lthnsiastic partisans c"1-i"j, has mhn are Dreoareuj jesbtePP r0Ufrh.and battling, viamentary of legislation now in f is the House tax bill, il u the Revenue Act of 1938. the House, fZ form approved by much-de-measure retains the profits tax in a .j.rihnted I 'M UOU"" . . rA rreaiea a new ou" f .,, iurui, the "third basket" levy, at closely held enterprises. in the Seis strong sentiment nior absolute repeal of the un-- tributed profits tax, and practically can foment, so far as anyone bas-ft a "third of now in favor tax' This illustrates two of the JL of the bill which may be dras-L- y overhauled by the Senate. d the House tax bill is (1) on two assumptions: under it the 1939 deficit will be 000000,000, and (2) that there will Those seemed I loss In revenues. & assumptions a while back- -it not today. The staggering drop I business has apparently made it gain that the deficit will be far jacess of $1,000,000,000, and also revenues will jflin that Treasury made the estimates under I pavely ST getting ''f t,t ,! .s . STATE BANKING DEPARTMENT State Capitol holding companies now control 500 Danka possessing more . than one SALT LAKE CITY, UTAH seventh of all the bank assets of the nation, beOieves that his bill is es sential if banking is not to be con REPORT OF CONDITION OF THE BEAU RIVER STATE BANK OF TREMONTON, IN THE STATE OF UTAH AT THE centrated In a few tremendously powCLOSE OF BUSINESS ON MARCH 7, 1938 erful hands. Chance of the bill's passage seem fairly good, though it may be toned down in some particulars. (CONDENSED) Many congressional conservatives who oppose destruction of utility holding ASSETS companies, for instance, because in 1. Loans and discounts $190,383.29 this industry the holding company 2. Overdrafts 7,240.69 system has made definite contribu- 3. United States Government obligations, direct andor fully guaranteed tions to efficiency and economy of 1,500.00 6. Banking house, $3,500.00; Furniture and can see no reason operation, for good fixtures, $2,764.63 11,264.63 a bank holding company. On the oth- 8. Reserve with Federal Reserve bank for er hand, it is argued that bank holding retirement of debentures 1,400.00 companies have at times prevented 9. Cash, balances with other banks, and cash bank failures by absorbing into their items in process of collection 66,253.30 ;. big systems, weak individual banks. 13. Other assets 67.00 . The European situation has grown mare tangled than ever. This column could be extended to ten times its length without providing space for adequately explaining the plots and counterplots underlying the recent acts of the great powers. Hitler's armed conquest of Austria, and the rout of the Schuschnigg has created new panic. Furthermore, it has strained previously cordial German-Italia- n relations. Mussolini, for all of his is really trying to stave off war, knowing his country's resources are inadequate, He prefers bluff to action. Hitler seems bent on going ahead, come what may, and that has Italy worried. Most important of all, Hitler's move into Austria has put England on the spot. The Chamberlain government can hardly go ahead with its plans for a reapproachment with Germany with out openly countenancing ruthless aggression. And no one believes the English people would stand for that. Everyone feels that Hitler is now looking toward conquest of Czechoslovakia. If he tries that, armed conflict seems certain. Russia has mofeu g short time ago. bilized troops at her frontier to throw the forecasts Week that Business to the aid of the Czechs in case GerI site will get through its revision makes the expected move. And many the bill along in April. The proposis preparing for trouble. France will go into a and what will happen there III III III III III III ItV tli III III III III III III $ the laps of the gods. THATCHER SCHOOL NEWS Atnt two weeks ago another bill in Congress which, 4 in in hi in in in in in in hi hi in in in in & $s introduced rtle it has not made the headlines First Day of Spring? Spring has is of very great importance. This returned, but in a funny way. We the company waited for it to snow while winter kure, which the President men-:e- d was here, then we started looking for in a press conference in Jan-ispring. We were happy Monday mornOddly enough, the author of ing before getting up for we thought bill is a senator who has often spring was here, but winter had come one of the Administration's also. Now we know we can't expect U telling critics Carter Glass, too much of March weather. fcator Glass, a leader of the Orin Adams 6th grade wing of the Democratic Window Decorations Last week, pj, has long been opposed to holdfield. the in the 7th and 8th grades painted new companies banking d in this field his opinions carry decorations on the windows. Most of Mt weight in Congress, inasmuch the decorations were big colored kites I was Secretary of the Treasury flying in the air. We came to school ier Wilson, and father of the Fed- - Monday morning with the snow on Reserve System. the ground. I think we have made a F.ve major provisions constitute the mistake in putting kites on the winlass bill. As summed up by News-ir- dows instead of boys going sleigh they would: (1) Prohibit the riding. Dean Adams 6th grade 'ration of any more bank holding tpanies; (2) forbid existing bank Ball Game "The score stands 6 to ling companies from acquiring con of more 6 banks at the end, they're playing another banks; (3) restrain tolled by holding companies from inning. Here's the pitcn, oau one. losing new branches, making loans Stokes has been doing some fine work f affiliates, or purchasing securities in there this afternoon, there's the tea affiliates: (41 subiect bank hold- - wind-uthe pitch, strike one on Jencompanies and their subsidiaries sen. Here's the next one, strike called. a I periodic investigation by the Fed-a- ! The count is two and one, here's comes another and here Deposit Insurance Corporation, strike called, tl which they would also have to with some pep behind it, strike three, Irennrts- mt nnthnrio the PTYTf! there's the first out. McNeely batting, I revoke government insurance on there's a strike, a strike called, two Jt fCult 1 TOTAL Fur-Ifnnor- saber-rattlin- g, e, large-Ljicte- no House-Sena- con-lac- te e, Ml jj in i, 7. e " con-frvati- ve be k, p, - $278,108.91 LIABILITIES 14. Demand deposits of individuals, partnerships," 15. P. 18, 31 and corporations Time deposits of individuals, partnerships. ana corporations Deposits of other banks, certified and officers checks outstanding, etc Total of Items 14 to 18, Inclusive: Not secured by the pledge of loans andor investments Capital account: Capital notes and debentures: (1) Sold to Reconstruction Finance Corporation $10,000.00) Common stock, 250 shares, ) ) par $100.00 per share . Surplus Undivided profits net Retirement fund for preferred stock or capital notes and debentures .... TOTAL CAPITA! ACCOUNT $214,736.52 16,690.91 24.75 $231,452.18 $ 35,000.00 10,000.00 131.73 1,525.00 ... $ 46,656.73 TOTAL, INCLUDING CAPITAL ACCOUNT $278,108.91 STATE OF UTAH County of Box Elder deposes and says, that he is Cashier of the above named bank and that the 6w"6 "cjniv vuuuuiia a luii, uuc tuiu correct statement OI the condition of the said bank at the close of business nrt ttiA 7th Aav rt March, 1938. D. E. PECKENPAUGH. Subscribed and sworn to before me this 17th day of March, 1938. JOHN J. SHUMWAY, JR., Notary Public. (SEAL) Residing at Tremonton, Utah. My Commission will expire June 19, 1940. CORRECT ATTEST: D. E. PECKENPAUGH, JOHN J. SHUMWAY, O. A. P7ERSON, Directors. STATE OF UTAH Office of Bank Commissioner I, RULON F. STARLEY, Bank Commissioner of the State of Utah, do hereby certify that the foregoing is a true and correct copy of the statement of the above named company, filed in my office on March 18, 1938. RULON F. STARLEY, Bank Commissioner. balls are thrown in succession, here's the last one strike three. He went down swinging. D. Adams up to bat, there's a strike, a ball, a strike, a strike, that makes three strike and three outs. Thatcher lost 8 to 12 to BothwelL" This is what you might have heard if it had been broadcast. It was a close and hard fought base ball game between Bothwell and That cher. Leo Adams 8th grade iran fii. Garland. Friday night the Mutual officers entertained in honor of the Dramatic Club at the home of Mrs. Lydia Norr. Mr. and Mrs. N. Peter Marble had as their guests on Sunday, their little grand daughters from Tremonton, daughters of Air. and Mrs. Leon Kerr. Mr. and Mrs. Leland Knudson and son Roland, of Portage were guests of Mr. and Mrs. Frank Germer Thurs. evening. Mr. and Mrs. N. Peter Marble atProgram and Dance Friday, Mar. tended the Weber Central Dairy ban18, Miss Holt's room gave the proat Bear River City, Monday gram. Trehe were poems and some quet night. Mrs. March Next 25, Friday, jokes. Bishop and Mrs. Marion G. Perry Jackman's room will furnish the pro and son, Myrl and Mr. and Mrs. Algram. g ton Perry attended the After the program we had our reg D. S. Ward on L. Kanesville at ular dance. We are learning to waltz. The last dance we had boy choice and Norma Hansen and Bertha Germer had a clap dance, which was a lot of of Salt Lake City, spent a few days fun. with relatives here. Kay Shuman 6th grade A number of Republicans attended a special meeting at Brigham City, 4 Leaf Clover Designs Wednesday, evening. Monday March 16, we had a test in Art. We Mrs. A. A. Loveland, Mrs. Monday, deto a clover draw each had McCallister and Mrs. Edna BevRay sign. There were many differentkinds erage spent the day with Mrs. Odell of designs. They are all very well Bigler at Collinston. painted and very neat. Monday evening, the Sunday School Bessie Nelson 7th grade officers and teachers met at the home of assistant Superintendent Norman Perry, where a business meeting convened, pertaining to the special proBy Mrs. Thomas Ault gram which is to be held March 31, in the Deweyville Ward. The Daughters of the Pioneers will Mrs. M. A. Lish went to Ogden, Mrs. a meeting at the home of Mrs. hold to visit her sister, Wednesday, Jane Heusser on Friday. Orvill Child. Tuesday evening, the Mutual had Wednesday. Renea Lish went to Salt Lake City to spend a few days as a special, a very interesting prowith relatives and friends. While there gram, furnished by the Fielding ward. Wednesday, a number of folk from he will be the euest of Marion Har- Warththe Leo Deweyville Ward attended Temple wood, and Mrs. and Mrs. lun. day at Logan. On Saturday, Luella and Barbara Wednesday evening, a Democratic will give tap dancing In the lish in the was held Deweyville meeting Deweyville halL Bring the little folk Ward hall at 8 o'clock. Mr. and Mrs. Ray McCallister and and see what the girls have to offer family have moved here from North In the line of tap dancing. t "I started my savings account years ago, when I first began working. Later on, I opened a checking account, because L knew how much convenience, safety and prestige it would give me. "I'm still using both of them larlychecks for current HURRY! the surplus goes into saving deposits for future expenditures." Better hurry if you want a locker for this summer .... It's a Only a few left Many of our depositors follow this plan, and we invite you to talk with any of our officers about opening an account here. .... We Welcome AH New Business i -- ' i(tftf,n' ... iff,; .i ;i - ' 1 HWWim""",ltHMI Farmers will be required to reduce new organization was affected. D. M. acreage of only two crops, wheat and G rover as chairman, Luetta Leak as potatoes, in order to comply for maxi- vice chairman and Irene Shuman as mum payments under the 1938 soil secretary. Mr. Grover was the deleconservation program as set up in the gate elected to go to Brigham. new farm act, according to LeRoy Mr. and Mrs. William M. Miller reC. Funk, executive secretary of the turned Saturday from Ogden, where state agricultural conservation asso Mrs!. Miller underwent a successful ciation. Each of these two crops will be given a special acreage allotment Mr. Funk says. There will be two actions necessary for farmers to qualify for highest payments under the new plan. They must reduce their acreage of the two commodities to a specified allotment, and also practice certain measures similar to those listed in last year's program. Here is how the wheat and potato programs will work: Only farmers who have raised at least 100 bushels of wheat for market during the past three years will be eligible for the grain allotment payments. Farmers will be given a wjieat allotment about 12 per cent lower than their average acreage for the last ten years. Obviously the allotments will hold during the 1938 planting season; the only limit on wheat acreage this year will be that the total acreage of wheat and fallow and of crops must not exceed the total base for the farm. Allotments will however, be in effect during the 1939 season, with farmers being paid 12 cents a bushel on the normal production of their allotted acreage. There will be a penalty also for seeding less than 80 per cent of the allotted acres. Potato allotments and payments will be set up only in the ten commercial potato counties of the state: Box Elder, Cache, Davis, Millard, Mor gan, Piute, Salt Lake, Utah, Washington and Weber. Potato growers normally seeding less than three acres will be exempt from the potato allotment provisions. Allotments will be about 7 per cent less than the aver age acreage, and payment will be made at the rate of three cents a bushel on the normal production of the allotted acreage. Payments will also be made for approved practices. A of calculating the comparative values in units of the various practices has been designed, and goals will be set up for individual farms. Soil building practices include: con struction of terraces with outlets and of dams and reservoirs for erosion control; treatment of land with fertilizers, straw wastes, green manure, soil-buildi- soil-buildi- soil-buildi- eye operation. Accompanying them home were Mr. and Mrs. Fred L. Petersen from Brigham City and Mr. and Mrs. J. Wilford Miller and Glen Miller. Most of the college students spent a few days home before the spring quarter opened. Mrs. Harold Perry and 2 small sons of Perry visited Monday at Connor Springs. Mrs. Perry will be remembered as Miss Delia Petersen, daughter of Mr. and Mrs. Lewis Petesen of Brigham City. The Relief Society banquet, program and dance was very successful. Mr. and Mrs. Leo Young and Mr. and Mrs. Frel L. Petersen of Brigham City were in attendance. Mrs. Lucille Berchtold and sons, Don and Bobby are visiting in Brigham City this week. Mr. and Mrs. Conrad Fredrickson have been to Brigham to see Mr. Fredrickson's father, James P. who has been seriously UL We are glad to report that Elmer McNeeley, who was injured in an automobile accident Thursday In Thatch er, is home from the hospital. The two sinus bones in his forehead were broken and he had 16 stitches taken In his head and chest Mr. and Mrs. Perry Stanfill entertained at dinner March 14 for friends. On Tuesday evening, Mrs. Sevexoon came and showed slides on Time," to the Sunday School and M. I. A. Fred-erlckso- am -- .i -- and cover crops; seeding of legumes and of timothy and red top mixtures; contour listing and contour seeding of small grain crops; maintaining of a stand of forest trees; control of noxious weeds; reseeding of pasture lands p and restoration of pastures by restricted grazing. County committees will have Individual farm allotments calculated soon, but Mr. Funk points out that farmers can figure their allotments by studying the crop history of their land and following the formula suggested by county agents or members of county committees. non-cro- SHOP THROUGH THD LEADER ADS FIRST " Lit J, CaterpQlar W : the long life J IIDEOVEIIUS C that others rp r& n mn Tractors are built to last and !?Cterpillar" track-typ- e owners are proving they do last! While other manufacturers are making promises of long life for their tractor, this tractor is out setting records for long working lifei A Minnesota owner has five "Caterpillar" Diesel Tractors each of which has worked 12,000 hours and they're still going strong! : ; ; a cornbelt owner operated bis 30,000 miles on Its original tracks. . ; . a California owner had a repair expenst of working hours whllf $83.00 in 10,400 heavy-duthis Diesel tractor saved him $4,628 in fuel costs alonel ; ; : an Arizona Farm Power Contractor, working much of the time day and night, has put over 25,000 working hours on his "Caterpillar" Diesel Tractor. could continue into And this list of "long-lifers- " the thousands! "Caterpillar" advanced design, quality materials and construction make tractors produce the extra years of profitable performance that pays dividends to owners. Ask for the booklet on Veteran Tractors! y fOuiun' MiMf m rtfmttt.) ASK FOU A CAiriEiHiipniLELAmi mt LOCKER STORAGE Tremonton Tractor & Implement Co. PHONE 52.a-- l u. n, "Pro-Columbu- s' good time to buy your summer's meat supply . . . Some extra quarters can now be bought at the .... Bear River STATE BANK On March 16, the Democratic committee of this precinct met and a home-comin- regu- expenses, and P PENROSE ( DEWEYVILLE Trim" STATE SECRETARY LISTS PROVISIONS OF NEW FARM ACT soil-depleti- af ' PAGE EEVOI. . pat. err. tti;7.ioNfiTiiATior; |