The Ottawa Herald from Ottawa, Kansas on October 7, 1961 · Page 8
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The Ottawa Herald from Ottawa, Kansas · Page 8

Ottawa, Kansas
Issue Date:
Saturday, October 7, 1961
Page 8
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ft THE OTTAWA HERALD 9 Saturday, October 7, 1961 British Interest Rate Cut Strengthens U.S. Dollar By SAM DAWSON AP Business News Analyst NEW YORK (AP)-The cut in British interest rates this week coincides with renewed worries about the flow of short-term investment funds—and some gold— from U.S. shores. The cut in London should help discourage any new rush such as the outflow of dollars and gold that a year ago caused doubts, quickly discounted, about the soundness of the U.S. dollar. Some investment money has been going to London from the United States, New York bankers have reported in recent weeks. And in the last week the U.S. gold FIRE DESTRUCTION—The center section of Temple Beth Zion in Buffalo, N.Y., lies open to sky where once a huge copper-sheathed dome soared above supporting arches. Temple was destroyed by spectacular fire that caused an estimated million dollars damage. supply has dipped after a period of relative stability. The price of gold on the London free market has risen and now stands 18% cents above the U.S. Treasury official rate of $35 an ounce. The reason for the outflow of funds is that the British raised the Bank of England rate to 7 per cent July 25 from 5 l /y per cent because the pound sterling was in trouble. The Federal Reserve Bank discount rate was then, and still is, 3 per cent. The spread between the two bank rates carries over into short- term securities. Recently British treasury bills have been yielding 6 J /£ per cent, while the yield on Teaches Safety In Unusual Way Hal Boyle Great Girl, Agnes, Until That Kick NEW YORK (AP)-The things a man learns about women when he is young educates all his days and ways. It was then, a time ago: There were the four of us, going home after school, in the time when arithmetic counted. He, the other fellow, carried the ether girl's books. Class for the day was done, and a feeling of recklessness swept the campus of the grammar school. I carried the real girl's books. Her name tould have been Agnes. Agnus wasn't the class clown of the school genius. She had brushed brown hair, the most languorous eyes in the fourth grade, and a sense of command. SPOT ADS Are Well Read You Are Reading One Now! She was a great gal in her ;ime. She had everything going 'or her—beauty, freckles, charm, and a boy to carry her books iome. I felt mighty proud the first ;ime I was allowed to walk Agnes lome, even though she wasn't too good at short division and she spelled by hearsay. But day after day all she talked about was herself and her own dream. She never asked about mine. It occured to me that all I was doing was listening to her, and her books were getting heavier and heavier. Time was invisibly throwing dishwater on my romance. So was Agnes. "You're the smallest boy in the class, Harold," she said. "I'm at test a head taller than you. It's embarrassing. Can't you grow any faster?" "I'll try, Agnes," I answered manfully. Easier said than done. In those days many horses stil pulled many wagons in the streets. Now and then a wornoul horse would collapse in midduty fall upon the street, kick briefly against his tangled harness, then lie quiet—the ultimate in the dig nity of workhood. STATEMENT OF CONDITION of The PEOPLES STATE BANK RICHMOND, KANSAS At the Close of Business Sept. 27, 1961 Statement of Condition RESOURCES Loans and Discounts $ 734,296.07 Bonds 656,382.29 Bank Building 3,765.00 Cash and Sight-Exchange 207,165.01 $1,601,608.37 LIABILITIES Capital $ 50,000.00 Surplus 75,000.00 Undivided Profits 31,653.24 Deposits 1,444,955.13 $1,601,608.37 The above statement is correct. GERALD L. MILDFELT, Cashier OFFICERS AND EMPLOYEES H. L. Gault Chairman of Board A. O. Sigler President Chester Wagner Vice President Gerald L. Mildfelt Cashier Verna A. Glaze Asst. Cashier Mayme Newmaster Asst. Cashier DIRECTORS H. L. Gault Gerald L. Mildfelt A. O. Sigler Chester Wagner James Kueser 3% Interest paid on Savings Accounts and Time Deposits Member of Federal Deposit Insurance Corporation On a day going home from chool we came lorse, fallen in upon such a the street and [uivering. It lay there at the end if its will and its ability—dubious, lonviolent, unprotesting, saved rom total despair only by the oving eye of aimless hope. Agnes didn't feel the way I did. She walked blithely over, icked the horse where its mane met its shoulder and said, "Get ip, horsie! get up!" The horse couldn't get up. Agnes walked on homeward un- :oncerned, uninvolved. Her books .vere a burden heavy and hateful, nd I never carried them again. Across 40 years I remember I earned about women from her. jater experiences taught kinder essons. By ALICE WADE The Coffeyville Journal Written For The Associated Press COFFEYVILLE, Kas. (AP)-An unusual talk on safety is being given in this area by a man who uses American and foreign postage stamps and letter cancellations to illustrate what he is saying. The speaker is Ivan Pfalser of Caney, who uses an opaque projector to show his illustrations. His speech, using names of towns and states as they appear on the cancelled envlopes, goes something like this: "Accidents Lingo (N.M.' (Md.) in safety are a Weed (N.M.) which must be eliminated. "Lets find out what causes ac cidents. First of all they come about by ataking a Chance (Ky.), being in a Rush (Ky.) and travel ing at too great a speed (Kas.) "Of course, the biggest cause of accidents is Man (W.Va.) to prevent accidents, be Wise (Va.,) Lookout (Maine) and use Protection (Kas.)" Pfalser illustrates the above talk with foreign stamps showing welders, chemical workers, mhv ers and printers on the job. He continues with: "If you do have an accident, you'll probably get Hurt (Va.) This accident may cause a Wounded Knee (S.D.). You may end up handicapped. (This is illus rated with an Employ the Handi capped stamp). "If you are unlucky, there may )e a Killen (Ala.) and you wouk [hen see either Saint Peters (Pa. or go to Hell's Half Acre (Wyo.) Regardless of what happens, we'l all be Wsier (Idaho). "Because of electricity and petroleum products, the best safety practices are not always enough, j These mainly cause fires. If you pick up Fire Steel (S.D.) you will be burned. But you shouldn't use petroleum jelly but should Washburn (Tenn.) with Coldwater, (Kas.) "If on a Holliday (Kas.) in your Auto (W.Va.) and you have a Sleepy Eye (Minn. ) you should take a Traveler's Rest (S.C.)." Pfalser shows speeding motor cycle and car, traffic light, cars and pedestrians and school bus stamps from foreign lands to further mark highway safety. Overseas stamps also are used to show boating, swimming and skiing safety measures. A note of humor is injected with the showing of a bathing beauty stamp and another of a plainly dressed woman, with these comments from Pfalser: "Another hazard of swimming is looking for beautiful girls, especially if your wife catches you!" ike U.S. securities has ranged rom 2'/fc to 3 per cent. The official bank rates set the pattern but don't determine the exact yields on various types of securi- ies. Some investors, including Americans, with idle money for short- term hire have taken advantage of the higher London rates. There also has been some flight of West Herman funds to London during the Berlin crisis. As a result the pound sterling s rallied and Britain's reserves of gold and currency have climbed. So Thursday the Bank of England cut its rate to 6 ! /6 per cent, doubtless chiefly to ease restrictions on domestic business in Britain itself. The cut isn't a big enough drop to cause any greai outflow of funds from London to other money centers, such as New York. But every little bit helps when the United States is trying to maintain its own currency anc gold stability. The drain on U.S. Treasury golc reserves stopped early this yea after three years of troublesome outflows. During the summer th U.S. gold reserves held fairly steady. However, the U.S. is still sending more dollars abroad than it is getting back, although this deficit has been pared sharply after three years of big ones. Until a firm balance is struck some financial observers will still worry about the future stability of the nation's reserves. A PERFECT FIT—This car driven by Mrs. L. E. Brinkman rests in the swimming pool of Roy Kneip at Farmers Branch, Tex. She lost control of the car and it crashed through a fence and sank to the bottom of the pool. She was not hurt Maureen's Daughter Won't Trade On The O'Hara Name By BOB THOMAS AP Movie-TV Writer HOLLYWOOD (AP) - Maureen O'Hara met Danny Thomas recently in the corridors of St. Tohn's Hospital. "Why did we let them do it?" wailed Danny. The reason for his ament: Both his daughter Mario and Maureen's daughter Bronwyn are making their debuts in show business. Reported Maureen: "Danny got so worked up about it that the See Big Increase In Population PARIS (AP) - The combined population of Western Europe and the United States will show an increase of about 18 per cent between 1956 and 1976, the Organl nation for European Economic Cooperation reported today. Every country will show an increase except Irelan, whose an nual emigration of about 24,000 a year will keep the population in the range of 2.9 million, the report said. nuns had to come out and shoosh I week, him." version of her titian-tressed mother. She knows what she wants. "To be an actress," she declared at her Bel-Air home. "Not for the glamor of it; that never appealed to me. I want to act in things that require some depth and understanding, not just anything. I won't slay in acting un- — less I can do that." She is starting modestly. Her first professional role is as a sorority girl in a "Bachelor Father" sequence over ABC next She herself is disappointed but resigned to Bronwyn's decision. 'Ah, me!" Maureen sighed. "Where have I failed? "Knowing the heartbreaks, the pitfalls, the dangers of the acting life, a mother naturally wants to shield her daughter from them. I've done everything I could to discourage Bronwyn. Now all I can do is hope that I have given her the strength to withstand the heartbreaks, the pitfalls, the dangers." Bronwyn seems able to handle them. At 17 she is a strong-minded, determined, auburn-haired "I would have had the bigger role in the story except for one thing," Bronwyn said. "I can't really complain about the reason: The producer said I couldn't play a witch." Her billing: Bronwyn Fill- Simons. She explained that Bronwyn means "lovely white breast of a dove" and FitzSimons is an old form denoting "illegitimate son of Simon." Makes quite a story. Bromvyn declined to use the name O'Hara. "I won't trade on my mother's name," she said. "If I make it, I'm going to make it on my own." Official Statement of the Financial Condition of THE WELLSYILLE BANK At the Close of Business September 27, 1961 RESOURCES Loans and Discounts C. C. C. Loans Bank Building Furniture and Fixtures United States Bonds Other Bonds and Warrants Cash and Sight Exchange LIABILITIES Capital Stock (Common) Surplus Undivided Profits Securities Depreciation Reserve •••" Deposits $1,245,624.32 197,344.26 6,000.00 6,500.00 193,714.50 423,881.08 385,876.90 $2,458,941.06 80,000.00 80,000.00 94,546.37 10,000.00 2,194,394.69 $2,458,941.06 OFFICERS L. W. HOSTETTER, President W. H. MOHERMAN, Vice-Pres. H. E. DeTAR, Cashier CARL C. WARNOCK, Asst. Cashier J. HUGH CRAMER, Asst. Cashier LETHA BELL, Asst. Cashier R. Y. Lidikay H. E. DeTar Carl C. Warnock L. W. Hostetter DIRECTORS W. B. Smith W. H. Moherman J. E. Moherman Mem ber of Federal Deposit Insurance Corporation Established 1885 STATEMENT OP CONDITION of The Citizens State Bank POMONA, KANSAS At the Close of Business September 27, 1961 ASSETS Cash and Due from Banks • U. S. Govt. Obligations — Other Bonds and Warrants $ 100,286.04 438,625.24 127,879.06 62,926.38 223,393.62 745,068.30 1,806.08 Total Assets $1,699,984.74 Commodity Credit Loans •• Farmers Home Adm. Loans Loans and Discounts Other Assets LIABILITIES Demand Deposits Saving Deposits Capital Surplus Undivided Profits and Reserves — Total Liabilities $1,023,532.41 536,024.00 50,000.00 56,700.00 33,728.33 $1,699,984.74 The above statement is correct. NEAL B. BAXTER, Exec. V. Pres. and Cashier OFFICERS AND DIRECTORS C. H. Goppert President Neal B. Baxter Exec. Vice Pres. and Cashier Richard Goppert Vice President John F. Hudelson Vice President Nina Hughes Asst. Cashier Veva Vincent Asst. Cashier Lois C. Baxter N. V. Hudelson We have $1,600,000.00 fidelity bonds to protect against defalcations and we are Insured by Federal Deposit Insurance Corporation. We aim always to provide the finest protection for all depositors as well as. stockholders. Member of Federal Deposit Insurance Corporation We Pay the Maximum of 3% on Savings

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