The Malvern Leader from Malvern, Iowa on July 20, 1933 · Page 8
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The Malvern Leader from Malvern, Iowa · Page 8

Malvern, Iowa
Issue Date:
Thursday, July 20, 1933
Page 8
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ffXHl £MHf Imogene • S. E. Mills trrt-ethmg rtt Foil Swing Several thTesttttg machines commenced threshing to this To- eatfty Monday. Frank Hlt*ernon threshed tor Mattfn Head. Robt Berlin at his own no-rite, Rover' machine for Fran* Royer, Tom D«yle for jfcs. LatigMfn, Rot Al «*ander for T. P. Maher, Sane and Regan at torn Regan's home and Slater Bros, for Tomml O'Connor. Homer Hush of nea; Climax threshed hi« wheat Sat nrday and wa* pleased with an average ol thirty-eight bushels per acre. Pepttia* Picnic at Lake George Mr. and Mrs. Wftttdelle Sttrelke and family, Mrs. C. B. Abbott and dangftter, Anna Maude, Mr. and Mrs. J. D. Bnssard, Mr. and Mrs. Will Coinstock, Mr. and Mrs. Harry Comstoek, Mrs. Maggie Lewis, and Mr. and Mrs. J. R. Minnick enjoyed a picnic supper at Lake Oeorge Snhday evening, July 9. Boat riding and swimming were enjoyed very ranch during the evening. Miss Anna Delehant spent Saturday in Omaha on business. Misses Ruby Warren and Ruth Bares spent a few days last week with Miss Mae Maher. Miss Evelyn Ryan, H. NJ, is here visiting her mother, Mrs. Al* lie Ryan. Quite a number from here went to Strahan Saturday night to attend the farewell reception Mr. and Mr*. Joan J. He» have been enjoying a visit from their daughter, Barbara, no* Mrs. Arffiand Tirtetrr, and has band of Milwaukee, Wis. The an nonncemeni of her marriage came as a sttrprise to her many friends here. They were married in Rock ford, 111., April 22. Mrs. Tntenr has been teaching In Milwaukee for the past tftree years, being supervisor of arts. She is rery talented in art and her work has Won many prizes for her. Mr. Tntenr Is a lawyer in Milwaukee. After a visit here they returned to Milwaukee where they win reside. Mrs. Tatenr has a large circle of friends here who wish them much happiness. Frank Bradley Honored Mrs. Frank Bradley prepared a Very pleasant surprise in honor of Mr. Bradley's sixtieth birthday ly entertaining several of his riends and relatives at an elabo> ate four course dinner. Those resent were Mr. and Mrs. B. iradley, John Bradley and fam* y, Misses Cassie and Minnie Bradley, Helen Council, John Dempsey, Robert Cozad, Gene O'Dowd, Mike and Mary Dempsey, Miss Kate and Lewis Re- mochel, Miss Rita and Norbert Ceilings and Miss Christina Marx, the latter people being relatives and friends from Green- THE MALVBtK IfMEK. ttAt Ifetu 4/f the People Hod o Banks Are 8a**d ori the Hojtet ftftd Plam el All Classes— Vila** 0ep*nd«St Ofi Public'* Ability {0 Meet »t FRANCIS H. PrtJident Americrt ftftnkeri AttgetttiiR ft f*r pie of the fiaUon were fafly ttr. ployed, wh»e wages and **1*H*» were :feaiy and generous, »fctt« price* of commodities were ttreai a»a *Mte tfte minds of the peop were dominated by caniWe»ee. Grtti t^Mjet Ctrat to tB* ftttioft f. H. SISSOft for W. W. Molsberry and family. vine wno were vU Among them was Miss Mae Ma-1 John Bradley home, her who read the history of herj class, the Class of 1923. of which she was the president. Miss Agnes Bolton is visiting friends In Atlantic. Mr. and Mrs. Francis McDonald and Misses Mary Schtebler and Marie Connors drove down from Omaha Sunday for a visit In their parental homes. All returned home in the evening but Marie who remained for a longer visit. Quite a number planned potatoes and late garden last week to replace some of the early garden that burned up. Dr. M. E. O'Keefe of Council Bluffs attended church here Sunday morning enroute home from Shenandoah where he performed an operation at the Hand hospital Sunday morning. Mrs. Will Carper spent several days recently visiting her ents at Page Center. Beryl Hankins and family . went several daya last .week,, in Council Bluffs with his sister, Mrs. Llyod Taylor, and family. James Laughlin threshed his oats Monday and they averaged thirty bushels per acre. vllle who were visiting in the * ihn Bradley home. Mr. Bradley Is an active member of the Knights of Columbus and a member of the school board, having been district director of his school for thirty-two years. He also served many years as road supervisor and trustee. Mr. and Mrs. Roscoe Price of Council Bluffs are spending their par- to the Only $025 the *^ Round Trip World's Fair EVERY WEEKEND Tickets on sale every Saturday and Sunday 10-Day Return Limit Tickets good in CoacU or Chair H»lf fare for children Car, Burlington Route' Other Uw in effect dally Party Fare* _ 12 Day (CqacU Tickets) S traveling together *16.«8 each 4 traveling together *lg,88 each 5 traveling together 8J440 each (Bajf fare for children) * Still Jower fares for larg, ey groups, ""*' * J6*day tickets, $18.35, — —" « B*'WI»U«li£ {.UOIi vacation here In the homes of Mrs. Price's sisters. Mrs. Jerry F Maher and Mrs. Willie Laughlin and with her aunt, Mrs. Frank Owens. They came Saturday bringing home Mrs. Price's niece, Mary Laughlin, who spent last week visiting them. Rev. Francis Doyle has a new Plymouth coach. John Qutschenrltter spent Saturday night with Gerald Maher Mr. and Mrs. Clem Maher announce the arrival of a fine baby girl Saturday, July 15. This makes them a family of three girls and four boys. Miss Mary *a caring for mother babe;-we extend congratulations. Frank Logan of Parnell. Mo. visited his sister, Mrs. Ida Cas- Bell, Friday evening. Carl Irwin and family of Elmo, Mo. spent Sunday here with Mrs Irwin's mother and brother, Mrs. Leah Adams and John Adams Rev. Francis W. Doyle left Sunday on a, two weeks vacation that he will spend visiting his mother, Mrs. Mary. Doyle, at Cedar Rapids and taking in the Worlds Fair in Chicago. Ray Alexander from near Shenandoah was a caller in this locality Sunday. Miss Mae Maber and brother, Gerald, and Miss Ruby Warren were visitors Sunday in the home rUter"' *** Mr8 ' ^ Bl G « t8 chen- Ronald Benson and family of Council Bluffs spent Sunday in the home of Mrs, Benson's par. ents. Mr. and Mrs. S, B. Han- Miss Teresa Laughlin came Saturday from Omaha for a two Mr » ^« tl0n wltl » *•'"«»'•«». wr. and Mrs. jas. Lsughlin. r. and Mrs. Floyd Gee visited in the Claude Phillips home at Farragut Monday evening of last iV66t£. Ed Maher and family W6 re oilers Sunday evening in the * Pullman fares down pn tickets goo4 in sleep ing cars, * * Let us tell you about all* expense and personally* eorwweted tours, we can arrange for you, spent last week in Frank Hlggins and family and Outscbenritter fr 0 « near ****• , S «?day evening " E. Qutschenritter Sr ' ls nprtb gene. Mr. Mrs. Will Church Mattox very good yield Many t«rnj,ers hers fcava »oia their corn, /**REDIf may be Informally de*** scribed as future hopes, plans and good intentions converted into present purchasing power, the farmer, the manufacturer, the merchant, the home buyer, the purchaser of household goods, tbe Investor and the speculator all borrow at times. They plan to repay with the earnings of their crops, proceeds of tbe sales of their goods, incomes from their wages and salaries or profits from the resales of their securities at enhanced market values, each as the case may be. The greater part ot these various forms of credit is obtained by the borrowers directly or indirectly through tbe expansion ot the loans and investments ot the banks. It is this which creates the notes, securities and mortgages in tbe port-' folios of the banks. The banks are able to extend these loans because people deposit money with them. Even under the best conditions tbe 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 to have been at fault. The losses caused under such conditions are ordinarily fully met by funds set aside out of the earnings of tbe banks for just this purpose and do not affect tbe depositors' money. In the vast majority of cases and in the overwhelming volume ot business Involved tbe confidence ot tbe bankers In their customers and the confidence of the customers la their own ability to carry out their plant and obligations to successful conclusions are wholly justified. This Is tbe normal economic situation under which credit adds to the welfare and progress of society. The Faith ot tbe Banks Such was tbe structure of hopes, good Intentions and common confidence In one another that existed among all classes of the nation's community life when the series of economic shocks began to shake the nation's social fabric in 1929, The people had deposited billions of ddl. lars with tbe banks because they had confidence in them. The banks had loaned large volumes of these deposits on farm and home mortgages and on notes ot manufacturers, business men and finance concerns, and had Invested In the standard securities of the nation's cor- poratlons, state and local governmental units and tbe national government itself, because they bad confidence In the citizenship and the business conditions of the nation. Their mortgage and other loans to owners of farms aggregated 16,500,000,000. Loans on urban real estate were $4,000,000,000. Loa M to Individuals secured by U. S. Government, municipal and corporate securities totalled 111.000,000,000, Loans to industrial and commercial enterprises In connection with the production and distribution of the nation's infinite varieties of goods amounted to almost f 19,500,000,000. investments in Federal, state and municipal bonds were almost 16,000,. 000,000, and In corporate securities This great credit structure was bum while the country was at peace, while the farms and factories were productive, whjje the nation and the world provided great active markets for their outputs, while the earnings of all kinds of enterprise were large, while the working peo- FARM ACCOUNTING CONTEST LAUNCHED Bankers Evolve Plan for Stimulating Important Aid ta Farm SUCMM - * recently added ft »tlD9Ulus to work by At ft Associattsa for? Bach haj»k to ewoll a W ta the | Wm ol tft,e GJearJag wa» fly 9 then suddenly, almost as it the sun Itself kad lost part ot its vitality, everything changed. Oaf 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 mafkets shrank. Fear became general. The securities markets became panic-ridden as tbe prices of stocks and bonds withered to fractions of their former values, it was the greatest disintegration ot human plans, economic conditions and worldly values ever witnessed. These destructive changes cut right through tbe qualities and values of the loan;) and investments, the notes and securities In the banks. Business men and manufacturers could not repay their notes to the banks as due. Many govern' mental units and corporations defaulted the payments on their bonds. Property underlying real estate mortgages became worth less than the face ot the mortgages. The market values of standard securities became less than tbe banks had paid for them as Investments or accepted them at as collateral for loam. This meant, In fine, that the ability of borrowers to carry out tbe 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 bad been set aside against the expectancy of a certain Inevitable percentage of human plans gone wrong. Banlci Showed All Reasonable Care It was in loans and investments whose values thus became so unforeseeably impaired, that the banks, In all confidence, In all good faith, in all humanly reasonable care and good judgment had entrusted the billions of dollars ot deposits customers entrusted to them, • - iThose loan* and in vestments were, under »n^ornm)>tt>nttolOT&aii«H|< as gold itself.-Indeed, it the banks instead had filled their vaults with gold bars, and then some unknown cosmic ray bad transmuted them into lead, the results would have been scarcely more startling than tbe depreciation that was caused In tbe assets of the banks by tbe unforeseeable economic- forces which permeated and debased them. The inevitable result was that, when tbe banks, urgently needed the money they had entrusted to those assets, so that they could meet the unreasoning demands ot their depositors, they could not get it back. It was not that our banking system and methods were of themselves weak or reprehensible, apart from the rest of the life of tbe nation, as has been made to appear. U was not that our banks were permeated wJtb Incompetency or dishonesty or wltb lower standards of business ethics than<6were the other forms of human aetwty wltb which their owl'fate and activities were Inextricably Interwove^, as, ft almost seemed at OWM, tbere was a concerted national conspiracy* to lead our people to helleye, The great fact of American bank- Ing is that It shared fully to H»e plans and hopeg and bazgrgs e{ tbe «r. . a*« S*tt jr $rtt*l to tfcttftn* gift* (ft 1* ft atteftdstee M a f«»- «ww » in km* sf it* fttr*tt*, m. and ftft. Wm (M- refr. m. ftfei Mrs. |. R. OriTM *&* Ifr. AM Jf*8. S. f. Stfttgtdft » ad tout had 8«<*»y I Mftf With L*ar* *r. *** «rwe 6t»# fttftt LJa*6te Saturday fot ail o*e* 6o*4a* ttot *Hh Jlr . fewietf i »t,tw. Jt«fc m&t , and hm.fc.nd. »r. gttfte Sjwyer, »hd »f. and lire. l*rlni Sawyer* ***« Sunday guests ot Strt. ««*. H«k*s rett near Pacific Junction. Mr*. L. 8. fratt is tfnm ttf at he hoaw of her *•««», Mft. Fred Rea«oner. Mr. *fid Mrs. Maurice Fheipn >f Coal City, 111. are rlsitlnf this reek aaonf relatives of tb,ls ti* einity. Friday evening will he illy bight at the chnrth. frl«, «d re**y f of f Iri sklflet, Sffc —Mrs. »I* Afleft, RENT fteWfaaMy residence aft north Mate street fn Mftlveti, t*- H. M. Amo«. — Mr*. d» - — ncflv 4fca £ iloderi SwWHth. _ .^.v-reiM*.^*^^ .. room cottafe. jsa, ^ |jk 44tf, cottage. ^4^ ..... --' ***8 rBOffc modern i. It tfoskwftfc. 60tf. MISCELLANEOUS D«ftd AftbttAla^Call Aft . . Pho;b* 81, Emerson, or City tag washers. 8o»« feal Come in and look ouf stock ovat OAKS Oak. Sunday School Note* Oaks had an attendance of eighty-one last Sunday Inclndius; twenty-one visitors. We were glad to see 00 many visitors and hope they continue to come and become regular members. t There were no preaching *err- ices and no birthday* the past Week, - •- : •-.. •• Don't forget Thursday night people. choir practice for the young Silver City People Return East Miss Alice Borgoln, Oayie Skerritt, and Harold Oalt left Tuesday morning for the 'east, driving through in Miss Bur- goln's car. Miss Burgoin returns to Cornell University at Ithaca, New York, Oayle Bkerritt returna to Elizabeth, New Jewey, and Harold Qalt goes to Cleveland, Ohio for an extended visit with relatives. — Bilrer City Times, »afe (3d., Red ftkk, fa, vr r r 9 btrtttel. OtdWft tat eft Hfft.—B»6 1-3. ftde — Plane. We ftsre * W lt«af if alter* frnaMs to pay»e*t«. Onty |l§ left M . w«t«— &n^ , Oe« Motne«, to**. Plane ft* g*i««*iie*fy .... Uestt, f ft.«~J. W. 8ol$k, *t ——--• cat 4*-W. WO«K WANTED 9am Bfeaw «• Plafto fonlnfc Leate otdert with cotlifls Matrefft. 6* |*H«t'* Brut «ew, Hasting*. S&tfc at Leader oftice. AH offielal cotmty and t«*wfi tt pttbttehed to The Leader. BUDGET ESTIMATE, TOWN OF MALVERN, IOWA NOTICED-The Town council Of Malvern at Mitt* rnftntv tn*» l^BUff* "." '"'• '" r " •VW*** Taxpayers will be heard for or against the following estimate of expenditures at that time. . Woodford ft. Byington, Town Clerk, An ad a week gets the raultt you seek. > CLASSIFIED ADS Hundreds of Mills Counti- ans read the Want Ads each week, ' , , - - " *rTT',T"T* «•*•»*.?>••"»•"••*" An Additional service charge ot 25c will be made for each blind ad which must be an* swered at The Leader office. ABSTRACTS OP TITLE Complete Abstract ot Title rec> ords for each piece .of property in Mills County, Mills County Abstract Co, (Member pf the American Title Assn, and Iowa Title Assn.) , Olenwopd, Iowa. <«tf. CATTLE General , Improvement Grading .. __ Sewer „_«. . Light .. City Hall Bond Fire Eqiupmen Fire Maintenance Judgment Bond ._ Library _« .. , Waterworks _ Park Bond .. _. . Bond Interest Road Dragging Road .« .. „ Liberty Memorial Bond — Library Improvement Fire, Equipment Bond . Funding Bond TOTALS «. I 1,600 526 300 300 700 660 160 210 700 300 8,760 BOO MOO 1,600 106 200 660 1,000 117,040 Mil none 44 none $ 600 none $1.8481 3,600 800 none 100 none 14,900 1,000 626 300 800 700 660 160 210 700 300 260 100 2,100 1,600 106 100 660 MOO 111,140 > 1,869 f 376 187 423 644 90 none 897 none 668 2,862 1,462 2,600 1,608 86 88 867 , ; none j 2,964 78 940 848 1,486 620 6,678 698 none 806 6,627 none 3,000 1,186 none 160 1,879 •V WP '^WV-'P'aE is <** 3MS,w* * i= ! ^wS^SKSV"Jfm tywKiafyt Crldlilfflfli) -T^i - i>H, •'- if -i- ^ s "rtt *^«« , f Special Combination Rate 1 ,WE WIU GIVE YOU All of tht Abort hr Two Ptnoa» t ^'r,QQ « plans went wrose, the bank? c&rrjej} their share Pi tbf SwdSR ajjfl 8 u|. tlteir stos 0( the misfortune, banks p| Qache gauijty bSsfS; to siib«r}Ue to an iwarg IWBd, which wlU he presented jo five ! v-» J ,1" m .. 116.00; second P4»», 12546; 8ftb prise, lit who and , be doas w, «w ***** 4***MW f' y%vM j S >i * • C.M^f" X'£ •* -'ffeki^A^ , V ,. *~. c v> .v" ..-*,& •$ ;<•**. >~ ,-«$«, $?>-" £f-«K , ^is&. 1:

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