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Newspaper
Graettinger Times
Location
Graettinger, Iowa, United States of America
Date
Jun 21, 1934
Page
5
The piece argues public distrust of bankers overstated by sensationalism. It praises bankers who resisted the boom era and saved banks during economic crisis, noting only a small fraction harmed the public, while many depositors remained financially secure thanks to prudent leadership.
Federal Reserve System and Comptroller of the Currency coordinate to raise trust department examinations to the level of commercial bank reviews. Expert examiners will support trust staff across districts including Boston Atlanta Richmond and Chicago. State banks may follow federal policy, aiming for uniform nationwide standards and greater coordination.
A Reconstruction Finance Corporation report dated March 6 shows banks and trust companies repaid 54 percent of their $1.62 billion in advances by early 1932. Nonbank borrowers paid back 12 percent of $3.21 billion, with building and loan associations and insurance companies showing higher repayment ratios.
A Federal Reserve official notes expansion of welfare loans in the recovery phase with limited impact. From 1932 to 1936 only 14 borrowers qualified for direct loans, totaling 9.6 million dollars. Most applicants faced denial, and credit extended did little to boost overall commercial lending. The piece cites ABA Journal and NYT analysis on lag between business activity and bank credit.
Describes the Agricultural Commission of the American Dankorg Aggodiation and its director D. 11 Ota announcing 2,600 agriculture minded bankers designated to support county bankers. Emphasizes banker-farmer tours to connect bankers, farmers and businessmen with agricultural improvement methods and knowledge.
The piece argues confidence returning to the economy boosts banks to resume normal lending while avoiding excess risk. It cites Federal Reserve data, a halving of commercial failures, improved bank liquidity, and bankers’ readiness to fund sound loans as business leaders anticipate renewed demand and plans.
The American Bankers Association runs long standing programs to train young men and women to qualify for banking roles. Standard courses with experienced teachers operate under the American Institute of Banking section. Over two hundred local banking schools exist nationwide with thousands of graduates each year. Students learn banking and business ethics. a central graduate school is proposed for selective top students.
Banks and trust companies, once the largest borrowers from the Reconstruction Finance Corporation, have led repayments. Since RFC 1932 loans authorized to 7,080 banking patrons total $1,005,000,000 with $442,000,000 unused and $1,553,000,000 advances. by April 30, 1934 payments against advances were $925,000,000 about 40 percent. Observers see rapid repayments as a sign of returning financial normalcy.
The foundation, established in 1928, awarded 354 college loan scholarships. Total loans repaid in that period were 262000 dollars, with 46900 dollars currently outstanding. The total invested capital stands at 549000 dollars.
A mixed retrospective from the Times notes athletic feats by Olene and Tanner Jacobsen at Ames College with Tanner as basketball captain and Olene as baseball captain. It also mentions local weather, crop prices, a school addition contract, new purchases by residents, and various social notes and anecdotes from nearby towns.
A jumble of comic snippets, local curiosities, and odd views from Lancaster Ohio. The text lampoons a business rival, mock questions to officials, and a boy’s essay on newspapers, blending humor with scattered quotes and misprints.
Sunday school at Methodist Church 10 00 with 11 00 service followed by an outdoor service at 8 00. Epworth Leaguers plan ice cream and pie sale near Hawkeye Theatre to fund the Okoboji summer institute. Rev Bottom pastor. St Pauls Lutheran notes list Sunday school 9 45 morning service with communion 11 00 evening service 8 00 country service with communion 9 16 Sunday school 10 15. Missionary Society meets Tuesday at Mrs Christophersons. Bunny morning communion, evening service planned around topic AN UNFAITHFUL WIFE. Luther League conven tion at Spencer June 28 to July 1. Rev James P Christensen pastor. First Lutheran Church notes: Divine worship 10 00 Student Service preacher. Sunday school 10 00. Parochial school begins June 18 9 00. Iowa District Convention at Ames June 22 24. Lost Island Lath Church Sunday school 10 00 parochial school pro
A church notice invites worship this Sunday at 11 a.m. directed by Sylvia Crmangen, with Confirmation Friday at 2. It proclaims belief in Jesus as Savior and becoming a new creature, urging members to attend church, pray for enemies, and share faith with others. Rev. M. Mandanger, Pastor, signs the message.
An old-time classifieds page lists Emmetsburg Rendering Works offering prompt removal of dead animals and contacting Hansen Cream Station for DRY TANKAGE FOR SALE. Also promotes City Meat Market by Robt Simonsen with groceries, fresh and cured meats, cream, milk, bread, and a wide produce stock. Other ads include Loveall Hotel and Cafe, City Barber Shop, Bartleman Barber Shop, and a billiards and bowling venue with various amenities.
J McCarty Gractinger of Iowa operates as Justice of the Peace with services in real estate insurance and collections. He markets farm land and town property for sale and promises prompt careful attention and property care for non residents.
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