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Newspaper
Corry Evening Journal
Location
Corry, Pennsylvania, United States of America
Date
Oct 12, 1931
Page
8
Mrs Lillian Patrick of Warren was fatally injured when struck by an automobile driven by Orval B Borton of Sugar Grove near Second Avenue and Liberty Street. She died at Warren General Hospital after the noon Saturday incident.
Largely attended funeral services for Mrs. Julia Fitch were held Sunday at 2 PM at the home of her son Arthur Witch 115 West Columbus Avenue with Rev H D Reagle of the United Brethren Church officiating. Music was provided by William Deyo and Mrs Harvey Barks with flowers at the family plot in East Branch. Attendees from out of town included many Fitch relatives and friends from Union City Oil City Erie Spartansburg and Warren with sister Jane Lambert among them.
Joseph J. Nutt, treasurer of the Republican National Committee, explains Hoover's half billion dollar bankers pool to aid banks and merchants. He says the fund will provide discount facilities and may become part of the Federal Reserve system, with organizers including George L. Harrison, Gordon S. Rentschler, and Charles McCloy.
A discussion highlights the split between large New York style banks with no real estate loans and country banks funding home enterprises. The speaker argues real estate and home industry loans should be supported by Federal Reserve discounts, criticizing current methods and noting friction with country banks over collateral and discounting practices.
The Erie County Wealth and Tuberculosis Association sets a $21,000 quota to fund county health programs for the coming year. Seals go on sale in November and proceeds support health education case finding clinics and pre school screenings across the county.
A banker warns the Federal Reserve is muscle bound and unable to discount for general business use amid a financial crisis. He notes $78,000,000 of surplus and argues Congress will amend the Federal Reserve Act to aid the country. The banker backs President Hoover's resolve to act decisively to stabilize the economy. He supports the proposed $500 million bankers' corporation using federal agencies.
The National Credit Corporation, a Delaware incorporated body, can issue up to 1 billion in debentures to subscribing banks. Banks are asked to participate at 2 percent of net deposits. Debentures carry interest only if defined, and shares of 100 par value are held by directors from 12 Federal Reserve districts and deposited with the New York Fed governor. Banks may obtain accommodation on the basis of sound assets not presently eligible for rediscount. In addition to bank subscriptions, debentures may be sold to corporations lacking loan access, allowing private firms to participate in capital raising.
United Press reports Ganna Waisia and Harold F. McCormick split after a Paris decision. Waisia says the only dispute was her career versus marriage as McCormick, a Chicago millionaire, obtained the divorce Saturday.
President Hoover backed a plan aligning with banking interests to use the existing 12 Federal Reserve banks to manage a large emergency bank. The idea is temporary, lasting only until banking law changes permit the Fed to assume rediscount and related duties, as described by Nutt.
Fragmentary quotation explores life and youth, suggesting deep feeling and mystery. It mentions justice, mortality, and a search when beginnings are unclear. The text is incomplete but conveys a theme of profound emotion and enduring questions.
Mr and Mrs H Wilhear of Sherman N J celebrated their fifty fifth wedding anniversary with a family dinner at Hotel Corry in this city on Sunday. Twelve guests attended including immediate family members. Flowers decorated the table. Mr Phear works as an insurance agent in Sherman and has long resided there. Both are in excellent health for their years.
The Lillian Guild of Wimanwey Episcopal Church will serve a roast pork dinner in Parish Hall on Thursday evening starting at 7 oclock. Committees are finalizing arrangements and proceeds will benefit the church.
Fragmentary text reports delays and obstacles surrounding the St Gatthird tunnel project. Names and precise details are unclear, but the note suggests frustration among builders and officials over funding or technical hurdles hindering progress at a major construction site.
McKean County Detective J. J. Allison and federal officers conducted liquor raids across the county resulting in ten arrests. Those named include Carl Finn Joan Spann and others from Bradford Eldred Mack Clavick and Ed Fritchman. Bail totals were twelve thousand six hundred with most defendants bound over to court.
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