Show CLUB HEARS u S BANKER That the federal reserve bank bank- bankIng bankIng banking ing Ing system 1 being severely criticized by numerous persons person eho ho did not understand the prin- prin principles principles prin principles underlying under Ing the tho practice ot of the fil stem and that bankers who were leader In that business eed that without the tho federal reserve system tho coun coun- country coun- coun country country try would have passed through a serIes of financial panics p since the system has been wore were the unqualified statements ot of n R B district ma maa- maa man manager ager of ot the Salt Lake blanch bianch bl anch ot of the tho federal resort resor reserve 0 at the tho Rotary club luncheon today Thel Theta e ens wina a large attendance at nt the tho lunCh lunch- lunch con con held at the clUb APPLAUDED The vocal ocal solos solos oloe of ot Miss MIsa Ade Ade- Adelaide Ade- Ade Adelaida Adelaide accompanied laide laida Ashton accompanied at the piano by Slice Ml s Kathryn Fisher I 01 outbursts ts of ot ap applause ap- ap pia Use She Sh sang By tho the Yater of oC Minnetonka and for tor in an en- en encore core en-core I core coro sang gang Rose Jesse Jesso Richards sect e erY rY red rean readI reana I a a letter of ot appreciation from the I Kiwanis club thanking the Rotary club for tor the tho opportunity of ot hear hear- hearIng hearing hear I Ing Dr Charles Marker Darker j his recent visit to the city Press Press- 1 dent John N Spargo presided Ambrose Merrill requested a number of oC Rotarians Rotarian to attend a aL meeting at the tho Weber club on Friday at 12 15 iS o'clock at ot whIch the chamber of ot commerce would transact business of ot importance A P F Bigelow Invited all mem mem- members mern- mern members A bers of ot the golf golC club that a are r members of the club to bring their wives wl es or S ts tsI I to the golf golC club dinner to be beheld beheld held at the Weber ber club y night Mr Sir Motherwell described In do- do detail de detail tail tall the of the resene system explained loans It made that It dealt only with Ith member banks banie and how boa It operated to avoid panics He Ho deplored the adverse criticism criticism cism which he be pointed out I on an a ft lack of ot Information I EMERGENCY CY LO La LOINS INS 8 He i-fe told how it was eRa necessary during the recent financial atOm atOm- stringency gene genc gency in the intermountain coun coun- country coUn- coUn coUntry country I 1 I try for Cor the federal reserve bank at Salt Lake Lak to lon loin 45 million dollars when hen It had but six mil mu- mil mil- million million lion on deposit an and I how that was safely possible In his conclusion he pointed out that there thero were eare ere numerous signs Indicative of ot good times re- re returning returning re returning turning and advised lse ad all business businessmen businessmen businessmen men to take heart and work and soe sa andI I |