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Show THE LEHI FREE PRESS FRIDAY. JULY 27, 1933 Get a Free Family ticket to Lehf finest theatre, the Eyal Theatre, with each 50c paid on subscription of the dv. Lehi Free Press. 8-- W Mr. and Mrs. William J. Winy spent In Brighton. Wednesday George P. Price. Manager :: Lehi :: 12 Weit. Main Street Office, Eileen Brown of rfce. is ft Mrs, Beaidence. tnd West and State Street, guest of Mrs. J. G. Jones. Leht Utah :: Lehi : : Christ offeraon spent and Eva Boyd Entered at the postoffice at week-en- d Cedar in the City. second as Lehi, Utah, : : Lehi class matter Half Price and Leas at GoodShoe per line Mr. and Mrs. James Allred returned to their home in Salt Lake, Tuesday. - Leal Is i guest of Miss Mae Louise Mitchell. ShoesHalf Price and Mrs. Bob Jensen or Salt Lake City, was a guest of Mrs. Inez Peterson, Thursday. at Less win'. Good' a4T. :: Lehi Juliette Goates it-- Mrs. attended the cam pf ire program In Aspen Grove, Miss Alice Maxwell of Draper, was a Friday evening. week-en- d i visitor in Lehi. Lhi Orren Bone, Roger, Leland and Wm. : Leht : : Miss Grace Booth of Provo Is a Price and Edward Fox spent the weekguest of Miss Margaret P.anks, this end in American Fork Canyon, : : Lehi : t week. : : of Los Angeles, Merrill Fred : : Mrs. Lehi Mr. and Mrs. David Adam son of California, la visiting relatives and Salt Lake Cfty, were Lehi visitors friends in Lehi and Alpine. :: Lehi : : visitors Sunday and Monday. Mr. Mrs. :: and : J. F. Bradshaw and : Lehi Mrs. P. A. Bryant and children of Mrs. Martha F. Bushman were Salt Leota, Uintah County are guests of Lake visitors, Wednesday. :: Mr. and Mrs. J. p. Ander3on. Lehi:: Lehi Mrs. Arthur Parson and son, Mrs. John S. Smith, Mrs. Chester Stewart, of San Fronclsoo, were guests Smith and Miss Eva Gunther were of Mrs. Ine Peterson last week. Salt Lake visitors, Saturday. : : Lehi : : : : Lehi : : Mr. and Mrs. T. K. NIelson of Mt. Mr. John Gunther of Boston, Mass., Pleaasnt are visiting with Mrs. Nlel-son- 's was a gueta of his brother, Mr. Carl mother, Mrs. D. J. Thurman. Gunther, Friday. Lehi Lehi : : Shoes Half Price and Less at GoodMiss Lela Cutler and of Salt Lake adv. win', City, was a week-en- d guest of her grandmother, Mrs. M. A. Taylor. Mrs. Mark Richln3 of Pleasant Grove was a visitor at the Grant Llttleford Mr. and Mrs. Alvah Fitzgerald and home, Wednesday. family were guests or Mr. and Mrs. James KIdd of Harrlman, Wednesday. Mrs. Thelma Llttleford and Mrs. Llttleford spent Saturday In Salt Grant Miss Ethel Coates of Salt Lake City, Lake, guests of Mrs. A. B. Fjleld. spent Sunday with her parents, Mr. :: Lehi : : and Mr. Luther Coates. Mlas Yvonne Peterson and Mr. and Miss Karma Evans is visiting friends Mrs. Almorene Bagley spent Wednesand relatives In Spanish Fork. day and Thursday in Salt Lake City. - LEHI Rebuilding and Recharging Work Guaranteed AH - Br FRANCS .m301 President American Bankeri tentions converted into present pur chasing power. The farmer, the manufacturer, the mer- chant, the tome buyer, the V V :: : : Lehi evening for a trip through Mt. Pleasant, Moroni, an Into the Btanab territory. LOCAL ITEMS Delta Banks Banker Describe, the Way Loan and Securities of Are Based on the Hope and Plans of All Classes Value Dependent on Public Ability to Meet Obligation In- SUBSCRIPTION RATTS : Lhl : : One year in advance Mrs. Edith Evans was a business, $1.00 Tuesday. Want ads 10c Per Line for first visitor In Salt:: Lake, Lehi 5c insertion and per line for each Mrs. Charlotte Lewis returned froca additional insertiona trip to Fish Lake, Monday. Miss Mae Gardner of How All the People Played a Part In Building Nation's Credit Structure described be air. CREDIT mayhopes,informally plans and good ADVERTISING RATES win, 30c per inch Display 10c J FRIDAYj r Shoes-Hai- fPrt THE LEHI FREE PRESS Published by The Lehi Free Press Every Friday Fhone Lehi, Utah Readers I I f P. H. SISSON I par-chas- of household goods, the Investor and the speculator all borrow at times. They plan to repay with the earnings of their crops, proceeds of the sales of their goods, in- """'Sli.. H. SISSON, Aitociation in Tkt Ftrum ruvinia of the nation wer -- ,nn while wages and salemployed, fully were steady and generous, white aries were strong and commodities of prices of the people were minds the while donated b faith In the future and confidence In one another. Great Chanfe Came to the Nation Then suddenly, almost as if the sun Itself had lost part of Its vitality, everything changed. Foreign markets failed and disappeared. Industry slackened. A rapid drop in all kinds of commodity values set In. The earnings of business fell. Unemployment developed. Wages and salaries went down. Domestic Markets shrank. Fear became general. The securities markets as the prices of became panic-ridde- n stocks and bonds withered to fractious It was the of their former values. greatest disintegration of human plans, economic conditions and worldly values that history had ever witnessed. These destructive changes cut right through the qualities and values of the loans and Investments, the notes and securities In the banks. Business men and manufacturers could not repay their notes to the banks as due. Many governmental units and corporations defaulted the payments on their bonds. Property underlying real estate mortgages became wortn less than the fact of the mortgages. The market values of standard securities became less than the banks had paid for them as investments or accepted them at as collateral for customers' loans. This meant, in fine, that the ability of borrowers to carry out the future hopes, plans and good intentions that I have defined above as the basis of credit, had become impaired to a far greater extent than had ever before occurred In the nation's history. The resulting losses could not be absorbed by the banks alone out of the normally ample funds that had been set aside against the expectancy of a certain inevitable percentage of human plans gone wrong. I rr Donald Webb and baby, Teddy, 88 win'. with Vernal are spending two weeks in j Mrs. Webb's parents. Lehi relatives ;. . Lehi :: meats of the arrival of . Mr. and Mrs. Clifton Thayne and Mr. and Mr, - uuuia. erla children of Provo and Miss were guests of Mr. City. Mrs. Harty Thayne of Murray, Ora Clark. A. Taylor. Saturday. and Mrs. T. : Lehi Lehi Miss Goodwin' Laprie, Mr. and Mr 3. Ralph Goodwin. Friday from a and Mrs. Byron Whipple and Mr. and San Francisco. Oakland an" week the spent Mrs. Lowell Brown California, Enrouu, Fork Canyon. American end in 0 visited the southern : Lehi canyon, Mr. and Mrs, Harry Jerling and Edna Smith, daughter v children of Highland, were Independ- Mrs. Chester Smith ' Wm. Mrs. and Mr. of s,,ff. ence Day guests accident Saturdav J. Wing. was run through the i J! lt; Lehi J foot. to Bing Mrs. Alice Austin was called ham Wednesday due to the serious Dr. and Mrs. Elmo Edd illness of her daughter, Mrs. Carl Mr. and Mrs a x, family, Beck. ."" family and Mr. and Mr. vuaecvl Shoes Half Price and Leas at Good and family left for a vacation adv. win'. eanesday, , lfe. .JL? tw lo, Mr. and Mrs. Virginus Timothy and J Bishop S. I. Goodwin and Ur dinfamily of Geeley, Colorado, were l xuursaay mornij , ner guest of Mr. and Mrs. H. C. Wells, Nevada. They Evan3, Tuesday. brother. Edwin Goodwin, who! 1 :: Lehi :: .... w wun tnem gatB Mrs. Maud Craddock of Los Angeles, California, and Mrs. Foot of Provo, Misa Verla Thayne ot j, were guests of Mr. and Mrs. A. J. Delbert Thayne of Cedar city Evans, Saturday. Clifton Thavne -- :r Lehi :: of Mr. and Mrs. T. A. Taylor, WeS Mrs. Sarah E. Gaisford and daugh ters, Elsie, Essie and Le!, son, George and Mr. Elmer Cullimore are visiting Shoes-H- alf Price and Lew at at Twin Falls and Rupert, Idaho. :: Lehi :: Mr. and Mrs. Stanley Lott and Mr. Mr. and Mrs . A. D. Gardner and Mrs. Boyer Anderson are enjoyd oi Leita, are guests of to, uunuy to Granddaddy ing a vacation trip mbs. D. R. Mitchell. Miss MaecJ Lakes. ner who has been a guest t : : Lehi : : Mitchell home for the past two Mr. and Mrs. George Muhlesteln and in return home with her parenu, of three children Provo, spent Monday HRE at the James Clark home. Leath Clark VEI returned home with them for a visit. :: Lehi Get a Free Family ticket to U Ellas M. Jones who is employed . i it. . i i imesi With uieatre, tna Koyal Theatre. Sugar Co. at Idaho by the Utah-Idah- o eacn ouc on m of paid subscription visitor Mp B Falls, Idaho, was a week-en- d Lehi t ree Press. fiVIS, with his family in Lehi. u-- comes from their wages and salaries or profits from the resales of their securities at enhanced market rallies, each as the case may be. The greater part of these various forms of credit is obtained by the borrowers directly or indirectly through the expansion of the loans and investments of the bankb. It is this which creates the notes, securities and mortgages In the portfolios of the banks. The banks are able to extend these loans because a great many people deposit money with them. Even under the best conditions the plans of a small percentage of borrowers go wrong through mistakes, hard luck or dishonesty, and the judgment of the banker In such cases Is proved by the after event tc have been at fault The losses caused nnder such conditions are ordinarily fully met by funds set aside out of the earnings of the banks for Just this purpose and do not affect the money of the depositors, who seldom hear anything about such losses. In the vast majority of cases and in hree the overwhelming volume of business jduc: Involved the confidence of the bankers Mr. and Mrs. Booth Sorenson spent ednei In their customers and the confidence Friday in Manti Temple. Friday and of the customers in thsir own ability ture Saturday they were guests of Mr. to carry out their plana and obligations thre Sorenson's mother in Fountain Green. to successful conclusions are wholly : : : : Lehi Justified. This is the normal economic .inn Banks Showed All Reasonable Care Miss Margaret Thurman and Mr. situation and it constitutes the condiliicli and in was loans It Investments, tions under which the use of credit and Mr3. LaVon Young were Mt. t jrld'i whose values thus became so unfore- - Pleasant visitors Sunday and Monday, adds to public welfare and progress. In all the that banks, jess seeabiy impaired, Mrs. and F. Nielson. Mr. K. guests of The Faith of the Banks all good faith, in all :: Lehi :: Such was the structure of hopes, good confidence, in care and good Mr. and Mrs. A. B. Anderson and Intentions and common confidence in humanly reasonabl) PHONE entrusted the billions of had judgment (I one another that existed among all Goates and Mr. and Mrs. Herman dollars of deposits which their cus in classes of the nation's community life tomers had entrusted to them. Salt with Lake family spent Sunday If you have any news of Iwhen the series of economic shocks Those loans and investments were, relatives. nterest, any advertising, any Job : : Lehi : : began to shake the nation's social fab- under all normal conditions, as good as ric In 1929. The people had deposited gold itself. Indeed, if the banks In Mr. and Mrs. A. Carlos Schow spent printing or want anything in billions of dollars with the banks be- stead had filled their vaults with gold the week-en- d the printing line. and Independence Day cause they had confidence in them. The bars, and then some unknown cosmic holiday at Bancroft, Idaho, with Mr. Service with a tnult. banks had loaned large volumes of ray had transmuted them Into lead, the and Mrs. Glen Potter. mortresults would have been scarcely more these deposits on farm and home :: Lehi :: startling than the depreciation that gages and on notes of manufacturers, Mr. and Mrs. J. F. Bradshaw and was caused in the assets of the banks business men and finance concerns, and For Efficient Printing had invested in the standard securi- by the unforeseeable economic forces daughter, Sylvia Jean, were guests of Mr. and Mrs. Franklin Bradshaw in state debased which them ties ot the nation's corporations, permeated and See The Inevitable result was that, when Provo on Independence Day. and local government units and the : : national government itself, because the banks urgently needed the money Lehi : : LEHI FREE PRESS Miss Berniece Bradshaw left by bus they had confidence In the citizenship they had entrusted to those assets, so that they could meet the unreasoning Friday for Los Angeles, and business condition ot the nation. Telephone California, Their mortgage and other loans to demands of their depositors, they could where she will visit at home of the owners of farms aggregated $6,500,000,-000- . not get it back. It was not that our banking system Mr. and Mrs. Mark Clark. Loans on urban real estate were Radio :: Lehi :: and methods were of themselves weak $4,000,000,000. Loans to individuals seMiss Goodwin Thelma and Miss Lela or S. D. cured by Government, municipal reprehensible, apart from the rest ot the life of the nation, as has so much Cutler of Salt Lake City, were lunchand corporate securities totalled eon guests of Mrs. M. A. Taylor, Sat 227 Loans to Industrial and been made to appear. . 280. 45c It was not that our banks were per- urday. commercial enterprises in connection 228 245. 60c with the production and distribution ot meated with incompetency or disJit 171 224. 50O ot goods the nation's Infinite verities honesty or with lower standards of Misses Arlean and Thelma. Goodwin, Others vortlonately low. amounted to almost $19,500,000,000. business ethics than were the other Norlne Fox and Reva Goates formed a Your Old Tubes Tested FREE. Investments In Federal, State and mu- forms of human activity with which , party, Saratoga $6,000,000,-000own Friday their were evening. almost fate bonds and activities In were nicipal deliveries. Free calls and in various kinds of railroad extricably interwoven, as, it almost Shoes Half Price and Less at Good and corporate securities $11,000,000,000. seemed at times, there was a concerted --jiThese made total loans and Invest- national conspiracy to lead our people win', PHONE 47-LEHI, UTAl to believe. ments ot $38,000,000,000. The great fact of American banking This great credit structure was built Mr. D. N. Larsen was a Salt Lake Build Lehi, not another town. while the country was at peace, while is mat it shared fully in the plana and visitor Tel His daughter, Wednesday. the farms and .factories were produc- hopes and hazards of the American peoA laugh will get more business tl who Darlene, has been with world the and and when visiting ple, those plans went tive, while the nation a serious, heavy attempt to gw provided great active markets for their wrong, the banks carried their share Barbara Knight for the past week, tention. of returned all kinds the of home burden the with and him. suffered their share earnings outputs, while : : ot enterprise were large, while the of the misfortune. Lehi : : Mr. and Mrs. Harold W. Johnson Mrs. Dorothy Jones of Salt Lake, j Mrs. Douglas Scalley of Salt Lake and family were guests of their parwas a week-en- d guest of Mrs. Alice City, spent Thurday in Lehi with her ents, Mr. and Mrs. A, B. Anderson and Tuckfield and Mrs. James Comer. mother, Mrs. M. A. Taylor. Mr. and Mrs. B. Y. Johnson on Mon Lehi :: day. i i vv nue rig. t Mr. Dell Oxburrow of Ely, Nevada, Mr. and Mrs. Andy Trane and :: : Lehi was a guest of Mr. and Mrs. John family, Don Allred and Alan Webb Mrs. Matt Peterson returned home spent July 24th at Aspen Grove. Hutchings over the week-enGRINDING Scissors, saw sharM from a visit at Garland, with Monday : : Lehi : : See Wm. OsDonw Mr. and Mrs. Eugene Bone and at ed, soldering. ' Mr3. Herbert Bauer of Moran Brig-haMrs. James Comer entertained the with her son, Mr. W. B, FORD COUPE FOR SALE CHEAJ Social Club at her home, Thursday Wyoming is a guest ot her mother, Peterson. ,, Rntterv. See Mrs. Alice Austin. evening. : : : : Lehi H sinun, : : : : Lehi Mr. and Mrs. Lafe Johnson and Mr. and Mrs. Stone Cloyd of Vine chilrlren o.f I Mr. and Mrs. Lynn Arnold and baby FOR SALE CHEAP-Go- od Provo and Mr. and Mrs. l Dnv medlUBl 1. T., of Salt Lake City spent Independence ' yard, were guests of Mrs. Stone Roy Olsen and baby Betty of Pleasant CM II mother, Mrs. Enoch Russon on Mon Grove Day in Lehi. were Sunday guests of Mr. and iiToai m rv.-- . rviim. Show and thly and Tuesday. Stools. :: Lehi : : Mrs. William "Webb. SJ Cases, 3 Lunch Counter Booth Sorenson, Armond Webb and : : Cash Register. E. H. Lehi : : Mr. ana Airs. Rellus Rosa nr,,i Afton Giles enjoyed a fishing trip to Mrs. Fred Woolston and Iflft son, PauL i Pa no Marianne. rai daughter, d. week-enMarjorie. of ShelW Stawberry lake over the sjient Saturday in Provo, visiting with are guests ot Mr. Ross s sister, Mrs. friends. and : : Lehi : : Mrs. Henry Daniels accom-iwni- ed Calsomining Ralph BJttW( Mr. and Mrs. J. P. Anderson spent Ethel Watklns. her home and spent Saturday reasonable prices. Utah. Lehi. State Street, and Sunday. part of last week visiting In Treinon-toMr. and Mrs. James H. Lehi it-- Mr. Gray and Lehi daughters. Dorothy and Lenna spent and Mrs. Fred Bradshaw of Salt paper printed in Lehi which )) Mrs. Alice Brown of Los Angeles, Sunday in Draper, guests of Mr, and Lnke City, and Mrs. and Mrs. their ads, prints Henry Mrs. samuei Crane. Hitliar of Magrath. Canada, were Sun-daCalifornia, is visiting relatives and at y minted : : : Lehi v friends in Lehi. jtjuuer wipi of Mr. and Mrs. J. F. Bradbe VThy Mr. C. C. Hackett and : J00. Any time, Lehi : : daughter, shaw. anything bnt the Misses Mae Louise Mitchell and Mae Aia.ua, spent Tuesday in Salt Lake Lehi:: Mrs. L. A. Valentine returned home ' Gardner were Salt Lake visitors Mrs. Josephine Cooper and tpood adver5 sons, with them for a vislL , . : Berry Hutchings, and Nydla Mr. William Loveridge left Sabey, influences ww--wTuesday apent Independence Day ftt Cedar people Fort. to W- - ... !! where :: and to buy J tJ . hi 8-- 8-- TERMINALS, CABLES and GROUND STRAPS Ray's Battery Shop HAMMER BUILDING, MAIN STREET, LEHI, UTAH Guaranteed Tubes 1 Professional Permanent Waving A wave that you'll love and want to tell your friends about. Provo Beauty Salon ad Glenn Wmz W 1 auk EAST 1ST NORTH aiackay, Operator PROVO, UTAH Waves given by students $1 at the Provo School of Rmmtv Culture at this same address 11 Viet le Va.ii. 11 " I 3 I J WAJNT ADS j3 PRINTING d. nj LETTERHEADS ENVELOPES lo ti.., J'-1- a-t- bJ -- FORM LETTERS CIRCULARS HANDBILLS BUSINESS CARDS STATEMENTS Lehi Free Press Oswj PatoLH JJj n. etcj!jnJ:Ji '. Set and Printed In Lehi Build Lehi, Not Another Town w0 hat ini |