Pampa Daily News from Pampa, Texas on June 7, 1936 · Page 11
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Pampa Daily News from Pampa, Texas · Page 11

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Sunday, June 7, 1936
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7, 1936. !T»E * * Panhandle and Other Southwest Fields SMITH BROS. BRING IN LARGEST OF PRODUCERS ®~ An even dozen oil wells added 6,114 barrels to the.daily potential of the Panhandle field last week, white new locations numbered . nine. .•jftie Biggest well of the week wns the Smith.Bros. No. A-4 Sitter in Wheeler couhty. General conditions in the Held.continued quiet because of strict prbration and low allowable percentage .factor. .Gray, Wheeler, and Hutchlnson counties shared honors for new wells during ,the last week. Carson had one completion. Railroad commission tests of the last week Included: Gray County. Tom Dpswcll et al No. 1 Herndon, section 166, block 3, I&GN survey, tested 61 barrels dally. Total depth was,3,867 feet In lime. Pays were at : i3.285-96 and 3,228-3,360 feet. Kewance Oil & Gas company No. 6-f) Morse, section 3, block 26, H&GN survey, tested 283 barrels dally. Total depth was 2,593 feet, with pay 2,535-73 feet. Hutchinson County. Cy Reiger et al No, 1 Hodges, section 14, block, X02, H&OB survey, tested 481 barrels daily. Total depth was 3,065 feet in lime. Pay was found at 5,020-75 feet. .liarry Stekoll No. 2 Dial, section 36,, block M-23, TC&RR survey, tested 420 barrels daily. Total depth w«s 3,022 feet. Pay was at 2,970-83 feet. . j tfarry Stekoll No. 7-H Canadian, section 19, block 47, TC&RR survey, tested 233 barrels daily. Total depth was 2,962 feet in lime, with pay found at 2,890-2,960 feet. Carson County. pulf Oil corporation No. 13 E. Cpoper, section 4, block 9, I&GN survey, tested 574 barrels dally. Total* depth was 3,065 feet in lime, with pay 3,025-65 feet. ; i Wheeler County. Smith Bros. No. 4-A Sitter, section 33, block 24, H&GN survey, tested' 1,632 barrels daily. Pays were at .2,355-2,405, 2,472-80, and 2,525-60 feet, with total depth at 2,566 feet in .granite wash. Skelly Oil company No. 20 Johnson, section 47, block 24, H&GN survey, tested 833 barrels daily. Granite wash pay was found at 2,43,0-70 feet. Total depth was 2,562 feej. ••• '' Ben' G. Harriett No. 2 Stewart, section 73, block 13, H&GN survey, tested 260 barrels dally. Total depth was 2,22.0 feet, with pay 2;085-2,114 feet in granite wash. Skelly Oil company No. 18 Johnson, section 47, block 24, H&GN survey, tested 187 barrels daily. Total depth was 2,531 feet. Pay was at 2,475-80 feet in granite wash. Phillips Petroleum company No. 3 Gregg, section 72, block 13, H&GN survey, tested 226 barrels daily. Pay was at 2,060-75 feet in lime, with 4,350,000 cubic feet, of gas. Total depth was 2,089 feet. No gas wells were, tested. [Untested but • reported as a completion from Moore .county was the E.'B. Clark No. 1 Jones, section 166, block 3-T, T&NO survey, which matie 175 barrels daily, with 35,000,000 cubic feet of gas reported in the log at 360 pounds rock pressure. (Stanolind Oil & Gas company Watkins "A" No, 9, 1,283 feet from the, east line and 300 feet from the south line of SE'A of section 13, blpck, M-21, TC&RR survey, Hutchinson county. J, J. Rook A. R. Evans No. 3, 155 feet from north. line- and, 990 feet from east .line of NW!i of section 51, .block 24, H&GN survey, Wheeler county. jj, R, Phillips W. H. Taylor No. 1, 284'.feqt from the north and 374 feet frprn the east of NW'/i of section 9, blppk B-2, H&GN survey, Gray county..' King Oil cpnipajiy ..Mrs. . (Sclina Donkin No. 3, ,330 feet from the south and east lines of NEM of sec- tiqij 140, block 3, I&GN survey, Gray county. Southern Petroleum Exporation cornpany M. Vaughn No f 5, 330 feet. frpm north' arid 990 feet from the west of SB 14 of section .138,, blpck 3, I&GN survey, Gray 9ounty. Lone Star State Drilling qprpbra- tlqri Ed Moore No. i, 250 feet from the west and south lines, pf S'/j of SE'/i of ..section.. 22, block M-21, Hutchinson county. The .Shamrock Oil & Gas corporation Crumley-Gulf Ng..,l, ,66Q feet west and 1,320 feet north of, the S3E cor'ner of the WVj of section 398, block 44, H&TC survey, Moore coun- The Shamrock Oil & Gas corpo^ ration Olsson No.. 1, 2,640 feet west and 1320'feet-north of the SE corner of the S'/i of section 210, block 3-T, T&NO. survey..Moore county. ' .. :—•!-. •I**' : ' • Brazil Jails Aerial Bridegroom RIO DE • JANEIRO (-P)—Their wadding aboard an army plane 3,000 let up, w.as made even more memorable; for Plight Lieut. Ruby Can- arbo Lucas and Amelia Vierla when the war ministry ruled the plane hjd been used in defiance of army regulations and jailed the groom for 10 days. . • •«•-! Hebrew Hymn MS. In Archives JjSRJUSALEM (jPalcor)—The orig- n.iil spore ,jof "Satikvalj,", the Hebrew national hymn composed by Naftali Hens' Imber, Jewish-American poet,.has been presented to the library of the Hebrew University hew. the manuscript was found accidentally |fr Ainerica by Dr. Wil- Ha«n-.-FeJfehb'aum of New York. INDUSTRIES OF NATION MAKE GOOD STRIDES Seasonal Decline Is Less Than in Recent Years As Up Trend Grows. AUSTIN, June 6.—Industrial activity throughout the country continues well above the level of a year ago, Dr. P. A. Buechel. assistant director of the University of Texas Bureau pf Business Research, said in .Us recent survey of the general business conditions. "Seasonal influences, however, arc beginning to make themselves fnlt, and it is expected that there will be moderate downward tendency at least until the middle of July," he explained. "Because of the sharp upturn in industrial activity during the summer and fall of 1935, moreover, it is doubtful if the wide margin of improvement in industrial activity which now prevails.In comparison with last year w(ll be main- ,aiiicd after mid-summer. Retail ;radc, however, may continue to make the prevailing year-to-year comparisons for at least several more nonths as a result of the forthcoming large government disburse- nents, for relief, farmers' subsidies, arid spldlers', bonus and the favorable, agricultural income during the remainder of the year. "Prom the longer term point of view, further improvement in busi- icss and industry will depend upon substantially greater progress toward ull recovery in such industries as steel, construction, and railroads as as the continuation of the high •ate of activity already attained by ,he automobile industry. There can >e no.doubt about.the great poteh- ;ial demand for the products of these ndustries, but it is impossible to jredict when, this demand will become fully effective. "Significant as progress has been n the construction industry when compared with the depression low, .he industry still has a long way lo ;o before it reaches anything like lormal proportions. In spite of the ;ains registered In housing last year, lie value of new residences was only about one-sixth of, what it was 10 years ago, when he population. of ;he country was over 10,000,000 less than it is now. Moreover, construc- began to decline several years lefore the general decline began in 1929, and continued until 1934. IResidential construction in 1935 was double that of 1934, and.it was confidently expected that building this year would be twice that .o"f last year; but the figures for April were somewhat disappointing since there vas an increase of only 58 per cent. Should the more optimistic esti- nates earlier in the year actually be •ealized and this year's new housing- double that of a year ago, the total value would still be only about one- third, of what it was in 1926. There is a growing belief that he primary cause of tardiness in :he pick-up of residential construction is.the, high costs of building in •elation to incomes. Even at the ow point qf the depression the de;line in building costs from 1929 amounted to only 24 per cent while ihe decrease in* national income was nore than 40 per cent. In May, 1933, the index of building materials prices compiled by the Bureau of Labor statistics was 70.8 per cent op the 1922-25 base. A year later t was 87.4 per cent—as a result of ;he national recovery act; and now t is 85.6 per cent, which is still relatively high as compared with ;he national income. As a result of the sharp rise in building costs during the second half' of 1933 and through 1934, residential building reached the lowest point in the depression during the latter year. I'lt is significant that the United States chamber of commerce and many individual business men have lately been advocating progressive 3rice reduction where mass produc- ;lqn permits. Should this sound advice be adopted and practiced throughout the building industry, extending the benefits to the actual prospective home owner, fhere can oe.,little question that the earliei forecasts of doubling last year's construction w.ouia be realized. by. tn,e end of this year. Home financing made .marked progress durini the past year in the interest ol home owner, there can be little question th'at pie earlier, forecasts of doubling last year's construction would be realized by the end of. .this year. Home financing has made marked progress during the .pasl year in the interest of home owners i?oth as a result of, government anc private effort. There remains, still the problem of Deducing building costs, bringing and keeping them more nearly in line with the prevailing Income of the rank and file of the people. ! I • "The persistence of the relatively low ebb in activity of the construction industry has been ernphasizec because it is believed "that the restoration of this industry to nori activity would be the greatest singly factor in reducing unemployment There arc a number of other dustries, however, which, haye ,p. siderable potentiality ifflr , absorbing labor. For example, production in the railway. equipment industry is still only 19.0 per cent of normal that of the cement industry, 37.8 pei cent; the silk industry, 47.3 per cent, the lead industry, 54.2 per cent; the anthracite coal industry, 54',3 THE NEW FRENCH GOVERNMENT MOVES IN PRODUCTION OUTSIDE OF THIS COUNTRY GROWS FASTER THAN THAT IN UNITED STATES NOW AUSTIN. June 6.—Current problems of capacity to "over produce" crude oil should not be allowed to slind' us to current readjustments that are occurring in the world's oil industry, Elmer H. Johnson, regional economist for the University of Texas Bureau of Business Research, recently declared: "These adjustments," he said, "in conjunction with the facts of supply of crude oil reserves, and the increasing consumption of oil products, point unmistakably to certain fairly well defined conclusions: ."First, that, oil production outside the United States is growing al a .faster rate than production in this country. "Second,, that the consumption of oil products, already on a high levsl in the United States, is advancing rapidly in other parts of the world, particularly in Canada, Prance, Germany, Russia, and Japan, The absolute necessity of oil products in modern industrial and commercial nations is reflected in the post-war oil policies in countries of western Europe and Japan—in policies of securing a wider control of oil reserves, of intensive research in, and the application of, industrial chem- islry to the development of synthelic gasolines from coal, by hydrogenation or by carbonizalion, as in England, Germany, and Japan, and by Ihe stimulation, through one means or another, of refining operations in these countries. These readjustments necessarily take place relatively slowly—but considering their progress during the past 15 years, the effects of the post-war readjustments in the aggregate are quite impressive. Furthermore, these readjustments are expressions not only of the, fact that oil products have become absolute necessities of modern life, but that oil has become a world problem of the first magnitude; and that the oil industry is more than a business of oil companies. In brief, it is an expression of the fact that possession and control of oil products have become inherent factors in policies of nations. "The history of the inception of post-war policies with reference to oil supplies and the part such policies play , in the Brilish empire, Prance, Germany, Russia, and Japan might well serve lo cause us in the United States to take stock of our situation with respect to oil. It should be emphasized, of course, that the United States will not be lacking in oil products—for long aftef >qur oil rpserves have been depleted, the United States can secure such products from its vast reserve of coal and of oil shale. "Bi.it how do we stand as to oil supplies in this, country? At the current rate of oil production in the United States, our estimated reserves, in sight would last less than 15 years. New reserves will "be discovered, but how readily and how extensive is largely a matter of opinlpn. '.Even though np new re- seryes remain to be discovered, we would notr deplete our estimated supplies in 15 years, as in such case, the rate of depletion of our reserves would be reduced year by year. 'The problem .of oil in the future in,fhe tjnifpd Effates still. rejmajns; l|ow,Jpng;wi]jyt be.until'quv lessened supply ; ..will bring about <\ reduction in", production? Th is problem is quite naturally a fundamental problem to Texas. Currently, Texas is producing nearly 40 per cent of the oil output of the Uniled Slales. In 1935 Texas accounted for nearly 24 per ccnl of the world's output of oil —a figure.-.as great as the output of Russia, Rumania, Iran, Iraq, and the Dutctu.-East Indies all put together. • • •"The oil industry has become one of the largest factors, and perhaps the most'significant element in the economic life of Texas. Oil has jeen a factor of increasing significance .in Texas since the discovery of large production at Spindletop n 1901; Corsicana, as is well known, las had. an oil production and re- 'Inlng industry of more than local significance since the middle of the 1890's. "In conclusion, it may be stated that possibilities of oil supplies in Jeep strata in the Gulf Coast, in Northeast Texas, and in seclions of West Texas, while apparenlly prom- sing, belong-to the realm of conjec- ,ure until explored by deep drilling. And, furthermore, it is important to note that however widely com- jetent geologists may differ as to he possibilities of discovering new •eserves, they are generally of the opinion that Texas will be the last stand of large oil production in the United Stales." r .. industry, 6.3.3 p.ej cent; the rubber industry, 54.2 pei cent; the lumber industry, 66.4 pei sent;.,the..bituminous coal, industry 69.0 per cent; and the wool jndustry, 70.0 pe'r -cent, • ' - ".'..'...•.....:.:.....'..„ MMET NEW YORK, June 6. (ff 1 )— 3 Paint recovery breeze revived spirits and piices in today's stock market. While the buying was nothing to write home about, many leaders managed to hold fractional advances, with scattered issues showing wider improvement. European problems still appeared far from solution, and the tax cpn- troversy 'at Washington continued as an important influence In financial affairs, but most traders seemed to feel that things stood a chance of getting better rather lhan worse. The apalhy of the day's feeble rally, however, was exemplified by the total turnover of 253,710 .shares, the smallest volume for a Saturday since June 29, last year. Am Can Am Rad Am T&T 6 127 13 20'ii 6 165 Anac 7 AT&SP 5 Bald Loc B & O ... Barnsdall , Bendix ... Beth Sll . Case Chrysler .. Coral Solv . Comw Sou Gen Flee Gen Mot Goodrich •Goodyear Int Harv Int Nick Int 'f&T 33'/i 70 li 3'/a 17% 16 Vi 27 Vi 51 3 158 VI 13 93 ',i 16 Vi 3 37% 20% 20 : J1 164'/j 165 33 W 33'/i 70.V4 3 '4 69 '4 314 17% 17% . 6 . 21 124 , 52 , 3 . 2 . 7 7 . 10 50 VI 50% 158 158'/i 92% 93% 16'4 2% 16 2% Radio 37 11% 11% Repub. Stl .... 12 18 ! M 18'i Sears 10 71% 7UM Skelly Not quoted Soc Vac S O Cal . S O Ind . S O N J . Studebaker Tex Corp 28 24 11 10 20 7 13' 36 "i 33 : !i 58 : !i 11% 31', 31 "i 36 33 58 11 31 32'„; 3C 33% 58'A 11% 31'4 27% 59 r '. i 4% LOSES HEHU United Cnrbon —Not quoted. U S Rub .... 11 27!,s 26% U S Stl 48 59 r '.; 58 : '.i New York Curb Slocks Cities Svc ... 16 4'i 4'.i Elee B&S .... 25 19% 19 19-\ Sunray 7 4 :! i 4'..1 4-i NEW ORLEANS COTTON NEW ORLEANS, June 6. W)—A technical reaction combined wilh reports that light rains had fallen in North and South Carolina unsettled the cotton market today and prices ended net. unchanged to 12 points lower. . Weather reports were meager, but private sources stated that showers were falling on the Piedmont section. Most of the selling, however, was in the nature of profit taking and evening-up opsrations for over the week-end. At one time during the morning prices were up to their best levels in some time as Oct. reached 10.94, Jan. 10.87 and May 10.93, but the subsequent decline carried Oct. back to 10.79 and May down to 10.72 bid. KANSAS CITY LIVESTOCK KANSAS CITY, June 7. (.<P)— (USDA)—Cattle trade at midwest- ern markets this week was featured by fair demand for lightweight fed steers, yearlings and heifers at steady to 25 higher prices. A sluggish demand at eastern dressed beef markets on the heavier cuts reflected itself in the late trade and steers averaging 110 Ibs and above ruled weak to 25 lower. A large proportion of the steers offered showed the effect of an extended feedings period, the supply uncovering numerous shipments of choice to prime quality. Spring lambs and yearlings which were classified as old crop lambs prior to this week were under pressure and closed 50-1.25 under last week. Better kinds of lightweight ewes held about steady, but others declined 25-50. In the hog .market, light, and butchers are unevenly steady to 20 higher, as, compared with a week ago. The lighter weights of packing sows are steady. Chicago on Friday had a top of .10.25. FOURTH OF TESTS IN STATE FIND NO PRODUCTION BY H. J. STIUJTH, Petroleum Economist. Headlines In the daily newspapers make much of new oil strikes and so-called "gushers," but seldom, if ever, does the drilling in of a dry hole make the headlines in the news. This is natural, since human interest reacts more readily to the successful side of life. Yet, figures prepared by the Mid-Continent OH and Gas Association of Texas show that one-fourth of all the wells drilled In Texas result in failures. The oil business is far from being all "Milk and Honey" for it is a fact thai last year the Texas oil Industry spent $100,000.000 for drilling about 3,000 wells which failed to be productive of oil or gas. This is a lot of money and it naturally must come out of surplus funds of the oil companies. Still, when financial statements of the oil com- paies show substantial surpluses, there are Individuals who immediately seize upon such information as a talking point in support of their contention that increased tax revenue may readily be obtained by further assessments upon the Texas oil industry. Such reasoning apparently omits consideration of the fact that the Texas oil Industry already pays GO cents of every dollar derived from taxation, and that 27 cents out of every dollar the oil industry spends for drilling is necessarily lost through the drilling of dry holes. While there has been remarkable scientific progress in recent years in exploration methods of finding new sources of oil supply in Texas, the fact remains that the companies engaged in this extremely hazardous business, must of necessity maintain adequate reserve funds to provide for the contingency of dry holes. Even in the ordinary routine of oil field development, where every precaution is taken to reduce the dry hole hazard to the minimum, it is utterly impossible to avoid this costly toll. Thus, for every three "gushers" you read about, there is a fourth dry hole, costing just as much as a producing well, which you didn't find in your newspaper headlines. One out of every four dry, is the experience of drilling for oil and gas in Texas. In "wildcat" developments, Such as are pursued in the territory surrounding the famous East Texas field, nine out of every ten wells drilled arc dry holes. In the prolific East Texas field, itself, however, only three wells in every 100 are dry holes. In North Texas, the oil industry brings in a dry hole for every producing well completed. In West Central Texas, the experience is 54 dry holes in every 100 wells drilled. In West Texas, one out of every five wells drilled is dry. In the Gulf Coast, every third well drilled is a dry hole. These are facts which the oil industry must face in its day to day operations. While every method known to science is employed and no effort nor money is spared to obtain accurate information concerning sub-surface structures, the j dry hole hazard continues to be one of the many burdensome tolls exacted from the oil companies. Exploration, by geological and geopysi- cal methods, drilling for oil and gas and building a new pipe line are al' risks which carry not guaranteed return on the heavy Investments, of capital involved. Costly exploration of leased land may not reveal an oil field; drilling results in a definite percentage of failures; building a pipe line to a new oil fielc hinges upon the productive life 01 its wells. Thus, it is evident thai the oil companies which are building for permanency in Texas must, of necessity, maintain adequate financial reserves in order to survive these and many other hazards of the oil business. Geologist IL S TO Dfl, AUSTIN, June 6.—When Dr. Frederick William Simonds became a member of the faculty of the University of Texas 46 years ago as iicad of the school of geology, as the present department was then called, comparatively little was known of ihe underground resources of Texas. Since then wonderful discoveries and development of them have taken place. Dr. Simonds long period of active service in the class room and other work of a scientific nature connected with his profession at the .miversity will come to a close at the end of the current semester. Under a retirement plan of the teaching staff of the university, Dr. Simonds will hereafter give only part of his time to duties in the geology department as professor emeritus. He was recently honored by a banquet given him by approximately 100 of his former students and associate members of the faculty. On that occasion many high tributes were paid to him, some of them by those who have known him intimately during the greater part of his term of services at the university. Among those who added words of praise to the veteran geologist were President H. Y. Benedict, who was one of the first pupils of Dr. Simonds; Dean T. U. Taylor, who is likewise retiring this year from full time service with the College of Engineering; Dr. W. J. Battle, professor of classical languages, and a number of others. Messages of congratulation were received by Dr. Simonds from friends on the faculties of Columbia university, Cornell university, Yale university, and other educational institutions. . Before joining the faculty of the University of Texas, Dr. Simonds was professor of geology at the University of North Carolina. .*. Mr. and Mrs. Will Stewart and Mrs. Clarence Whitlock of Clarendon were among the visitors to the Centennial celebration Friday and were guests in the home of Mr. and Mrs. Bob Koiner. Mrs. Koiner is a daughter of Mr. and Mrs. Stewart. .*. Mr. and Mrs. W. C. Stewart of Clarendon have been guests of their daughter, Mrs. R. E. Koiner, since Friday. Mrs. Clarence Whitlock accompanied them here to visit friends and attend Centennial events. OCTANE NUMBERS FOR CHEAP GAS ARE CHANGED TULSA, Okla., June 6.—Motorists in the midwest and southwest will benefit this summer from more rigid gasoline specifications adopted by the Western Petroleum Refiners association whose members include virtually all refiners in the mid- continent territory. The new specifications change the octane numbers for third, middle, and regular grade gasoline, set minimum allowances for gum and sulphur content and establish maximum vapor pressure allowances. The combined effect of the specifications will be to reduce heavy repair bills. They will also result in a marked reduction in delay and inconvenience from "vapor locks" during hot weather. To insure motorists of a continuous supply of gasoline meeting the W.P.R.A. specifications the association has established a service bureau for jobbers, marketers and refiners, which will provide Immediate information concerning specification gasoline being offered by member companies. Through the bureau, purchasers may learn of gasoline being offered, the date and quantity available and the most advantageous shipping point. The service bureau, the association believes, will provide a needed marketing facility for gasoline buyers and consumers. Under the new specifications, "third grade" gasoline has an octane number of 62 and below; "middle octane" 63 to 67 and "regular gasoline" 68 to 70. Formerly "regular" had an octane rating of 63 to 70. Octane number is the measure of the anti-knock value of the gasoline. Ehyl or premium gasoline has a minimum octane Dumber of 76. Gasoline meeting the W. P. R. A. specifications must not have a gum content greater than 30 milligrams —a quantity which will not lend to cause valve sticking. Valve pressure must not exceed 8',i pounds in- summer and 12 V* pounds in winter. It is excessive vapor pressure which tends to cause vapor lock in hot weather. Mrs. Philip Wolfe left Friday night for San Antonio, in'response to a message'that a brother-in-law was critically ill. Mr. Wolfe followed her Saturday. ' M. P. DOWNS Automobile Loans Short and Long Terms REFINANCING Small and Large 604 Combs-Worley Bldg. Phone 336 All - makes Typewriters and Other Office Machines Cleaned and Repaired. —All Work Guaranteed— Gill JIMMIE TICE PAMPA OFFICE SUPPLY COMPANY, Phone 23S Summer Band School June 1 to August 22 Mondays, Wednesday and Fridays Private Instruction CALL A. C. CPX for information PHONE 814-R Kelvin 10 Kennec 17 M Wan} . Nat. Pairy Nat Dist . Packard . Penney ... Pe.nn RR •Phil Pet •, 19 7 3 12 1 6 10 19% 23% 84'/, 46% 13% 18% 37% 42% 23% 27% 10 U 80'/» 3951 61 V& 19 H 23% 83% 46 '/i 13 Vs 18% 37% 42,% 23 Vi 37% 61'/a 19 Vi 23% 84 46% 13 VI 18% 3.7 ?i 42 Vi 23% lO'/s 10 V* SOV's 30% BUS TRAVEL IS BEST NORTH, EAST, SOUTH OB WEST Modern, Convenient, Comfortable Coaches 1 FARES ARE LOWEST IN HISTORY! 1, Liberal Stop-Overs Allowed, I. Reductions on All Round Trip Ticket*. 9. Fast and Clos? Connections. 4. Safe and Competent Drivers. LET US HELP PLAN YQUR TRIP OR VACATION NOW- Agents Will Qlaflly Furnish Detail Information PAMPA BUTTERMINAI, 115 South Russell St, phone 871 ^ First National Bank In Pampa Member Federal Deposit Insurance Corporation ' f QUESTIONS THAT ARE ASKED ABOUT BANKING J M I OST bankers consider a loan good if it possesses the following qualifications: i. A borrower who has a good business repu* tatipn and credit standing. a. A sound purpose for which thp Iqafi is to be used other than a fixed investment in a business, for this .type of loan is not a • proper field for a commercial bank. 3. A reasonably short term until repayment . for commercial' loans; adequate security in the case of collateral or real estate loans. 4. Reasonable proof of dependable income for repaying the loan when due, or a definite schedule for repayment. This bank has many good loans pn its books. We are making r*ew.pries constantly. In every loan our first consideration is to safeguard the deposits entrusted to our care. OFFICER A. Combs, Chairman of the Board DcLea Vicars, President, J. R, Roby, Vice-President, • ; Edwin S. Vicars, Cachier, J. O. GHIham, Awt. Cashier, B. D. Robison, A^st, Caihier, F, A. Pfelc, AMt. Ca.h»er f E, &•»» CJ»y, Awt, Ca»bier U^^

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