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Newspaper
Butler Herald
Location
Butler, Georgia, United States of America
Date
Oct 04, 1934
Page
7
F N Shepherd argues bankers today are misjudged due to sensational exposes and political demagoguery. He notes only a small percentage of the population suffered losses, while millions of depositors avoided loss, crediting honest bankers who guided institutions through the worst business disaster. He calls for restraint and gratitude toward those who upheld high professional standards.
The Trust Division of the American Bankers Association notes a new Federal plan to elevate trust department examinations to the level of commercial bank reviews. The Federal Reserve System and the Comptroller of the Currency will deploy expert trust examiners across all districts to oversee state and national banks, aiming for uniform procedures and standardized operations nationwide.
Robin Adair returns to his old love Sally Pendleton after planning to marry Dorothy Dunbar. In a tense moment he discovers a stamped and addressed letter he never posted, realizing fate may still unite them. Sally, moved and hopeful, greets him in her hotel suite.
Hig Father's Son Pints.
A March 6 RFC report shows banks and trust companies repaid 64 percent of their 1.62 billion dollars in RFC advances since February 1932. Total RFC cash advances to banks reached 1.62 billion with repayments of 520.26 million, while nonbank borrowers paid back 12 percent of their 70 thousand dollar advances. Building and loan associations repaid 47 percent, and insurance companies nearly 89 percent.
A Federal Reserve Bank official reviewed early recovery loans issued under emergency powers from mid-1932 to 1933. Of 1,286 applicants at New York Fed, only 14 borrowers received credit totaling 1.417 million, with 806,000 actually loaned. two borrowers faced receivership. The piece notes commercial banks likely served eligible borrowers, with loan volumes lagging business activity in cycles.
The Agricultural Commission of the American Bankers Association, directed by D. A. Otis, states 2,500 county key bankers provide organized support to progressive bankers. Bankers and farmers participate in tours to learn and apply agricultural improvement methods, fostering direct contact and new ideas among country bankers.
Mabel and Daisy rush to host a club meeting while upset by a secret. Mrs. Jones borrows a man’s hat and coat for a charade clue, leading to a reunion with Hunter James Corbett, Daisy’s former fiancé, who explains four years of silence and a rekindled romance.
A new rail bus named Rail Run with a one horsepower steam engine has been placed on the Brighton Devils Dyke line of the Southern railway of England. It will accommodate 44 passengers and in test runs has exceeded sixty miles per hour during trials.
The romance of Lieutenant Rodney Ashurst and his wife Sally Ann unfolds from their wedding to life at an army post. After a rocky start in hotels then a humble shack, Sally Ann battles loneliness and fear of her child’s exposure to danger, but she finds a fragile home and declares, I am home.
The Engineering News Record reports the largest power shovel in use today is an electric shovel, replacing steam power for large units. In operation at a Duquoin Illinois open strip coal mine, the 1,750 ton machine required 58 freight cars for transport and handles a 20 cable yard bucket per lift, about thirty tons per operation.
F M Law of the American Bankers Association argues that confidence has largely returned from the banking crisis. Banks will resume prudent lending, avoiding long term or risky credit, while depositors feel secure. Economic signs include higher activity, fewer commercial failures, and improved bank liquidity per the Comptroller of the Currency.
The American Bankers Association has long trained young men and women for banking. Standard courses with experienced teachers are run under the American Institute of Banking. Over two hundred chapters operate nationwide, graduating thousands yearly. A central graduate school may be established for select graduates.
Banks and trust companies have been the largest borrowers from the Reconstruction Finance Corpora tion and have repaid rapidly since February 1932. Authorized loans reached 7, U S banking institutions totaling 1,995,000,000. 442,000,000 not drawn. Through April 30, 1934 repayments stood at 925,000,000, about 60 percent, versus a 37 percent repayment rate across all borrowers, signaling returning normal financial conditions.
The foundation established in 1925 has funded 254 college loan scholars. Total repaid loans amount to $262,000 with $86,900 outstanding. Funds investitures total $640,000.
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