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Newspaper
Graettinger Times
Location
Graettinger, Iowa, United States of America
Date
Jul 26, 1934
Page
5
Bankers advocate sound expansion to spur industrial and commercial activity. They cite the automobile boom as a catalyst for national prosperity, job creation, and increased purchasing power. They emphasize loans under sound conditions, stressing low rates and bankers’ role in rebuilding and modernization efforts.
In a Washington address, Jesse H. Jones, chairman of the Reconstruction Finance Corporation, argued that bank deposits remained the safest investments during the banking failures of 1932–33. He noted that those who invested in stocks, bonds, real estate, or businesses suffered far greater losses, and that it is unjust to tax payers to reimburse depositors in failed banks.
Washington D C FCM Law president of the American Bankers Association told the American Institute of Banking convention there is no good reason for pessimism as banking endures. He urged recognition of new conditions, work, and private initiative, citing the institute’s 21 active chapters 60 000 members and 33 000 students as proof of progress and urged bankers to prepare for future opportunities.
Banks and trust companies on May 31 repaid about 4.04 percent or 67,909,623.08 of the 1,651,257,086.08 borrowed from the Reconstruction Finance Corporation era loan program. The initial funding was approved on February 2, 1934.
The Federal Reserve Board reports improvement in operating banks, especially in country districts, with reduced indebtedness to Reserve Banks, the Reconstruction Finance Corporation, and others. The July bulletin notes progress in making depositor funds available and debt reductions in financial centers, while many small banks still carry heavy loads.
New York reports the American Bankers Association Journal noting June as a turning point in banking history. Banks show recovery optimism due to improved conditions and prospects for healthier business, with reorganization largely complete after sixteen months.
News items from the Times June 24 1924 note oats and butter prices and local market activity. Mentions oats war near Graettinger plus weather storm, local births, injuries, and community notices. Also records appointments and estate matters in Palo Alto County including executrices of Conrad Wiegman and administrator of William Luke estates.
Special execution issued by the District Court to foreclose on the properties of B L Allen Addie L Allen Laurens Parma J A Johnson and Palo Alto County Iowa The sale covers northeast quarter of section 26 and southeast quarter of the northwest quarter of section 26 township 94 north range 4 west The property lies on 200 acres more or less with government survey details The sale will occur August 24 1934 at Emmetburg County Courthouse Iowa from 9 am to 4 pm with bidding starting at 10 am to satisfy debt 17576 98 plus costs 240 89 plus accrued costs.
Emmet county law enforcement guarded Tuesday afternoon as three bandits robbed the William Terman oil station north of Jackson at the Minnesota No 16 and U S 71 intersection. The men, two or three dark complected, took $6 from the dash and a slot machine before fleeing in a blue coupe toward Fairmont. Station owner Forman fired at their car but missed. Authorities within an 80 mile radius were notified and Sheriff Frederickson toured county highways seeking the robbers.
Alvin Wass of Lake Park and Arthur Wass of Round Lake Minnesota visit Oscar Peterson home. Mrs Kilward Peterson returns from Coleman hospital after appendectomy. Funeral of Claire Tossum at Estherville attended by many from this area. Burlal grave in Wallingford cemetery. Mary Maynard and Bobby Peterson call Friday. Mr and Mrs Stalph McKay of Estherville visit Charles Conrail home. Mrs Charles Conrad and Edward Gelkie visit Batherville Wednesday. Blue Earth reunion draws many from this locality. D WY Palmer owns a new V eight.
A collage of humorous snippets and anecdotes from college life and editorials. Bits include letters from home prompting spending, a banker’s wife and light bills, a doctor’s cold avoidance, and various lighthearted vignettes about clubs, thunder, subscriptions, and language origins.
Mr and Mrs E W Stevenson and daughter from Forrest City visited Graettinger friends on Sunday. Alicea George stayed in Mason City over Sunday with her parents Mr and Mrs E B George. A tea cream social is announced in the Wagner building for next Saturday afternoon and evening. Alvin Rolfson couple from Gradlinger and from Fenton returned from a two week trip to the Black Hills and Yellowstone noting hot, dry weather and crop damage in several states. The writing ends with a note that crime news appears on the sport page.
Thirty-five druggists from four counties met in Matherville last Thursday night for a six thirty banquet at the Gardston Hotel. C F Kilgore delivered the welcome address and a business meeting followed the banquet per the Estherville Enterprise. Larke Estate In Texas Administrators seek rightful owners of a $160000 Texas estate left by Mr and Mrs Harry L Baker of Houston after their 1928 deaths. The Bakers moved from Iowa to Texas, likely leaving relatives in Iowa. Ruthven Free Press Ruby Diggers Caged The Mogok ruby mines in Burma employ a worker rule: workers must wear a steel mesh helmet cage to prevent swallowing gems, fully covering the heart with a padlocked mask. Colliers Weekly Leo Mimbich In Grocery Business Claretia and Franklin Bilbrey of Kaawha take over the former Leo Mimbach restaurant in Renwick, with Miss Bilbrey already working there and Mr Mimbach planning an I G A grocery store after renovations. Humboldt Independent Attended Fiftieth Anniversary Very Rev J T Finnegan and his sister Miss Catherine visited Sioux City and attended the fiftieth anniversary of Fr G A Gerlemann’s ordination at Granville Iowa, with over 100 priests present including McNerney Emmetsburg, Kelly Graettinger, McEvoy Ruthven and Veit Whittemore.
A Sunday afternoon hail storm moved from about a mile east of Ruthven toward the northwest, bringing heavy rain and causing considerable damage to corn, small grain, and gardens in fields northwest of town. The Ruthven Free Press report notes growing intensity as the storm swept through the area.
An application for an order setting a hearing for gale at auction of all remaining assets of the County Savings in Algona was filed in district court last week. Examiner Henry V Hull is handling the Gary matter. The filing lists $116,284 in bills receivable unpaid, $80,569 in judgment, $78,042 in real estate, $86,201 in non ledger assets and minor items, totaling nearly $800,000. The bank closed seven years ago after liabilities exceeding two million.
Henry Monarch, 27, of West Bend, was tried Monday on breaking and entering charges. He received one year in jail with nine months suspended. three months remain, but he need not begin until December 1 if he can secure employment and work in the meantime. In Spencer, permits issued by the state liquor store are confidential. the commission ordered withholding figures and buyer names, with records kept at Des Moines and accessible only for litigation.
The Labor Day committee lists officers and subgroups including Chairman D. E. McCarty Secretary Max Baumgartner and Executive Committee members George Frick Earl Ericson Mike Weinholzer A J Duhn and V L O Connor. Various sections cover Finance BP Thompsen Ralph Masters and others along with Dance Concessions Distributing Advertising and Boxing headed by a wide array of local residents.
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