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Newspaper
Bessemer Herald
Location
Bessemer, Michigan, United States of America
Date
Aug 18, 1933
Page
8
A special Bessemer Michigan Board of Education meeting July 14 1938 discussed coal bids and teacher contracts under the 1933 salary schedule. The purchasing committee considered bids from Consolidated Cavalier and Black Mountain with prices per ton and FOB delivery terms. The board authorized contracts for teachers and adjourned after appointments and a joint meeting notice with the Bessemer Township Board.
Country banker explains bank lending basics and values. He notes reserve requirements, cautious lending to capable borrowers, and the goal of keeping loans liquid. He cautions against industrial equity partnerships and outlines three essentials for credit: assets or collateral, an established endorser, and sufficient average deposits.
A special joint meeting of the Bessemer Township Board and the Bessemer City Board of Education was held August 7 1933 at 8 PM with all members present. The City Board offered the Township Board 62.50 per pupil for tuition for the 1935 34 school year including free textbooks, to be acted upon at the August 14 1933 meeting. The motion to adjourn was made by Dr Mullen.
Will Rogers says banks failed during the crisis not solely due to bankers. He notes people borrowed when money was available but could not repay when banks needed it. The speaker highlights that about 100,000 autos are junked monthly, a trend continuing for two years.
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