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Ackley World Journal (Newspaper) - August 4, 1932, Ackley, Iowa official Hardin AUGUST 10 PAY DEPOSITS INCH Reconstruction Finance Board Pre dicts Payments to State Benefits to Be Given Depositors Al most A golden stream of dollars may soon start flowing through the para lyzed arteries of closed banks in Depositors who resigned them selves to long liquidation processes before they could hope to receive div idends from recently closed banks were informed Tuesday that pay ments on their deposits may be made almost immediately through the facil ities of the gigantic Reconstruction Finance state superintendent of announced on his return to Des Moines from Washington that the stands ready to advance meney to closed banks in all parts of the state on such acceptable collateral as they may have awaiting liquida Foresees Many The funds advanced to the various banks would be passed promptly on to the depositors in the form of divi dends on their thus putting into the channels of trade and com merce in communities throughout the state large quantities of actual cash long before it otherwise would have been placed in Andrew viewed the development as an important and encouraging He foresaw as many as to depositors in closed state banks benefiting from the early pay ment of Latest Closed to Be Once the made loans upon the closed banks collateral the receiver of the bank continue as before with liquidation operations but will turn the proceeds over to the General existing conditions will be the governing factor in selection of banks to request said He indicated the general rule will be that banks most recently closed will apply first since liquidation proceed ings in these cases normally would require a longer period than in the case of banks which already have been closed some time and on which the work of liquidating has been con tinuously in ONE WAY OUT Waterloo Council Issues Prom issory Friday evenings Waterloo Courier contained this information repro merely to keep our readers informed of what is being done else where The city council at a special meet ing late Thursday afternoon author ized by resolution the issuance of promissory notes bearing interest at 6 per to tide the city over a temporary financial distress occa sioned by closing of two banks in which municipal funds were deposit The notes are issued in anticipa tion of funds yet to be Da nominations will be and or larger to meet the demands of Drawing Immense Our Wednesday evening band conj certs are attracting immense crowds j people are seen to gather here from all the neighboring Park over Iowa Falls and Hampton Ack ley is not only the musical but it is the natural trade center for a territory that extends in a circle of twenty miles and It is worth trade to your place of business by regular advertising in the paper that goes into the home of the nearly two thousand each and every and read by every member of the The First This is the first issue of the World Journal in a long stretch of thirty five that the paper has been published by that the advertisement of the First Na tional bank and its the Bank of has not or is not appearing It certainly is an evidence of Robert and Rath and daughters returned home the first of the week from where they visited at the home of her Pflieger returned home with them and is enjoying a visit WHOLE BOARDS MAY POOR RELIEF OFFICIALS OF CENTRAL IOWA IN SESSION AT BOONE rotests are Being Heard Against Secondary Road Tax Lexies Work in engaged in endeavoring to secure signatures to The Register of that city says No one realizes what a big task it is to see to people who are depositors in the First National Bank until they get into it and make he There are many on their vacations with no mail and here are many others who have small accounts and they have them selves probably overlooked it when hey moved In trying to get 100 per cent it means seeing all of his different class of Then here are those who do not want to e seen by the with the hought that in the final closing of the campaign they will be Hardin Court Filed with the clerk of courts dur ing the past the following wurt actions Marvel Cahill Leo di Prudential Matilda Lewison et Bernice Row Dallas di Fred Blue Line damage action First Trust Joint Stqck Land Bank Koeppen et f oreclo Elerotw i Theft of from the Thompson elevator safe was dis covered Friday by Manager The combination had been broken off the ITS A BIG JOB Chasing Up Twelve to Fifteen Hun dred Bank at where there hava been several bank the one First during the two weeks and more pjfct has been equipped with garden a boxcar home frequently d out ivould excel those ordinarily provided or the The group adopted a resolution avoring the commissary plan of food istribution in Polk and Webster but agreed it was not suit able in the smaller GLITTERING PROSPECTS Country Around Garden Died at Home of Her Son Wil liam Funeral Because several Ackley people own patches of 30 to 40 acres near Hol just over the Iowa and other former residents lere are now located on truck farms the appended from the Albert Tribune is of particular interest Have you visited Hollandale this year It surely is the garden spot of this section of the All indi cations now point to a harvest this fall larger than ever produced on this reclaimed We wish that Payne his son Dick and who spent the best part of their lives and their fortunes in turning this useless piece of slough land into one of the most fertile and productive spots in the could profit in a financial way by what they have given to Preeborn They sure ly are entitled to a great The Freeborn county people have much to be thankful The promoters of this project turned this great area from a liability into an Usual ly the one who does the public good never profits But these pro moters must have a great deal of satisfaction in their hearts at this for they know that they have helped others and have not lived in Two or three winters ago the Red Cross was providing for many un fortunate there who had fared illy because of short crops and low prices but it is cheering to know there wil be no danger of this this BRIEFLY TOLD Near Neighbor and Community Notes of General At the republican state judicia convection at Cedar Rapids Justices Fraderick Faville of Fort Dodge Lawrence DeGraff of Des Moines am Wagner of Sigourney wen nominated to succeed Glarinda and a kalfdozen othe in that locality are going through the trials of a tenday busi ness holiday to support the bank waiver I A new baby girl appeared at tlv of and Elder a Hampton a boy the and Mrs Ed Abben home Dumont the Robert 65 and a residen of the home at Maso died Burial is to bi a Titonka plans to celabrate its bn Indian Day on the J6th of thi First celebrated in AdvertlseMbe Meeting at officials of Cen ral Iowa counties returned to their lomes Friday with new ideas con erning ways and means of handling fhe problem of destitute families in heir County supervisors and other of icers from Dal Har in and Guthrie counties met here A resolution to discontinue county ayment of rent for poor families if member of the family is capable of arning a living failed to receive ap roval of the Ed Bomberger of Webster ounty said the rent bill f his county is increasing so rapidly hat it may be necessary to use re uilt boxcars and a disused school uilding for John Polk county super objected to herding people nto boxcars because they are ut the Webster county group point MALINDA MOGLE PAVING IN GRUNDY Favorable Weather Advances Work May Finish That portion of paving being put in on 14 in Grundy con sisting of about 13 has been completed and the contractors have moved to the paving put in some years ago and will work north to the Grundy county When this gap of less than five miles is 14 will be hard surfaced to Mar The contract called for the com pletion of paving by but ow ing to the good weather for this kind of work and the small amount of lost time work probably will be finished by HARDIN FAIR It Is to Be Held at August 15 to 19 Advertising matter in connection with holding the Hardin county fair at has been distributed in Ackley within the past The dates are August 15 to This is a Hardin county undertak ing a regular event fortyfive years one for the past in which the entire county is Further announcements of what the fair is to be like in the way of attractions and will be made be tween this time and the opening FIRST NATIONAL CLOSED MONDAY CONTINUED WITHDRAWALS OF MONEY AND FAILURE TO SECURE WAIVERS Old Institution Wrecked by the Few Who Failed to Endorse the One Safe H E story of wreckage of one of I the oldest financial and business Death has removed another one of he oldtime and for many years a of this and the Robertson Malinda who lied August at the home of her in the Mogle had been in fail ng health during the past several and because of her ad anced 88 and nearing her 89th no chance of Fu neral services are to be held this Thursday afternoon at the Mogle home and at the church at Robert son the services are to be conducted y a Interment in lazel Green Mogel who has been iving with her Will and passed away Aug ust at the farm residence south of She was born near in the daughter of and Miss Malinda Wholford married Mogel in 1861 and together they moved to Iowa in settling on the farm southwest of where she has lived con tinuously through the sixtythree years which have She had passed her eightyeighth She was a member of the Christian faith and was a devoted mother and She was one of a family of eleven only one of GOES TO OMAHA Arthur Reinhart of This City Joins Western League Arthur Reinhart of this left Wednesday night for where he will join the Omaha members of the Western League of He has been at home here during the past two months or Formerly with the Cardinals of the later with the Texas state he has been in the fastest company that national baseball He will be on the pitching squad with Secure a Good Carstens Brothers of this were the successful bidders on a new building that is to be erected by the state at Cedar at the State Teachers They secured the contract for installation of the steam heating and plumbing on a bid a trifle in excess of The foundation work on the new building has been fairly begun the whole is to be completed before Returning to and Wallace after a pleasant visit of nearly a month at the home of his and George French left then on Saturday to Polo for and Syetta Wittenmeier of Illinois sur To and Mogel were born four three daughters and one all of whom are They are Mary Miss Lucie Mogel of Des and John Sparks of and Mogel of Mogel preceded Mogel in death twenty years ago this Besides the children and on to their home at Mogel is survived by thirteen grand children and thirty seven great most of whom live in this section of Iowa and in Okla Funeral services were held this af at the farm home at two conducted by pastor of the Christian church of Iowa Burial was in the mausoleum at beside her institutions in this section of Iowa is told in a few The people of Ackley and vicinity are quite familiar with the efforts that have been put forth conserted efforts on the part of members of the Commercial of individuals and bank attaches as well to prevent one of its honored financial institutions from being The proclamation that had been issued by Mayor after consultation and deliberation with for a business holiday of ten beginning with the was necessarily extended during the time that public meetings were being held and committees were engaged in the effort to obtain the signatures of persons having business connection with Ackley In the case of the First National these efforts were only partially and on Mon day morning last the officials of that institution decided to abandon the ef fort and when the notice was posted on the door that it occa sioned no great although there were many expressions of re The notice read Owing to the unwarranted and persistent withdrawals of depos its during the past six months in par and because of three weeks devoted to securing waivers to stop such withdrawals has not furnished enough waivers to permit the open ing of the the directors have decided to return the waivers to those who have signed and place the bank in the hands of the comptroller of the currency for The bank in its last published statement in the WorldJournal re ported resources totaling but it is only a few years ago with the savings department there was more than a was during the flush Not all of this money has been withdrawn for it is a matter of condi tions that are coupled with the probable truth that it has gone into secreted by timid folks for no particular reason except And what is there to fear This community has long enjoyed the reputation of having more money per capita of population than any other in the great state of Our people are thrifty bankers and fi nanciers have had occasion through the years of proclaiming the fact wholesale dealers and business con cerns in every mercantile agen cies and others have known this to be the The Bank of which pre ceded the organization of the First National was established by Martin Eggert in and prior to that it was conducted as a private banking Through all the years it was rated with the and at this time not a syllable or sol itary reflection is heard or intimated against those who have been connect ed with As a banking concern it has aided many financially and in business It was closed by its officers to preserve the available as sets fov depositors and others tem porarily it is in charge of the na tional banking repre sented by USE IOWA COAL Governor Turner Makes Ap peal Value to Dan Turner addressed approximately chairmen of county boards of supervisors and presidents of boards of in an appeal that Iowa ooal be used this winter in all public The governors letter said that em ployment in Iowa would be material ly improved by use of Iowa and that economical fuel was furnished by the Iowa The use of Iowa coal will do things and aid in meeting two of our most serious the govet nros letter It will serve lessen the cost of heating our public buildings and there is no question but it will of material assistance in increasing employment in the coal mining sections of the GRUNDY OFFICIALS TAKE WAGE CUT SUPERVISORS AUTHORIZED MAKE REDUCTIONS TO Voluntary relinquishment of 10 per cent of salaries amounting to and of smaller percentages for those under that amount is made in a com munication by Grundy countys elec tive offices to the board of supervi The document authorizing the coun ty to withhold stated sums from monthly paychecks was filed witl the board at its regular meeting Monday Six Men Are Signers who were drawing monthly and hereafter will are treasurer auditor Graven and deputy treasurer authorized reduction of his check from to and Rup county by his request hereafter will receive a 10 per cent Emergency Tax Many taxpayers attended the meet ing at which the budget for the com ing year was Consider able attention was given a proposal to lower the emergency already cut from 17 to 12 but the supervisors felt that auch action was Bills were allowed and other rou tine business Injured Wells son of and Henry WJyrock of Steamboat Rock had his foot badly A horse stepped on a We Got to Get Rid of Him 0 A RAGBAG BANK Michigan Woman Forgot Where She Had Put antihoarding contingent has a new recruit in Anna who lives near While police were searching for 850 in old bills she reported Carey suddenly remembered placing them in an old bag of linen instead of in the kitchen Shei took the bills to a bank and depositel them as soon asthey were Possibly some that has been with drawn from banks here is hidden away in the old in bed just as likely in an old Probable It is probable that ten per cent division will he made within the com ing to depositors of the closed Farmers State of this It has been under contemplation for some but unforseen conditions obliged those in charge to defer To the William Sauter was taken un expectedly ill last Monday afternoon had had a previous serious ill ness and was convalescing at her it was deemed necessary to take her do the hospital at Web ster She has a stomach Independence Bank Tho Farmers State bank here opened ap Monday after being closed for 14 days to secure DRY IN ILLINOIS No Rain in Three Weeks in the Seward Henry who has been WorldJpurnal subscriber and reader during the past forty writing from his home at Illinois on other takes occasion to state that there been no rain in that section of the state for more than three weeks things are getting pretty things are looking pretty well all except that prices of and live stock are too only lie for 32pounds 2 yellow corn 3 at 23c barley from 25 to Schreiber is connected with the Hill Grain company has been since leaving Ackley any number of years Still Holding It is stated that there are only very few who still withhold their sig natures from the waivers and prevent the State Exchange bank from It is sincerely to for the good of everyone in the entire woman and that the required few will see and appreciate the fact that it is the only way of saving the community in ft financial and business thai means Sign up and lets all be happy Closed for the Some of our people who have in the habit of going to Waterloo to see a were stopped at the entrance of the Paramount theatre in that Saturday by a plac ard that bore the announcement Closed for the summer At Cedar anH Brittell and fanv UT have been in attendance this week at the annual Bible Conf erence which is in session at Cedar Stout Bank Stout Mondayafter a
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