First National Bank (Silverton, OR)

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BUSINESS OUTLOOK VIEWED WITH CONFIDENCE IN EAST

More Optimism Displayed by Authorities Today Than at Any Time in Last Three Years; Advancing Prices Revive Hope.

BY LEON B. BAKETEL Financial Editor, The Oregonian. Although warning against overen. thusiasm at present, most eastern authorities, the for today with greater degree of optimism than any time during the last three years. It is pointed out that political obstacles to recovery are yielding to that finan cial burdens are being scaled down and bond and advancing prices are hope and confidence. The First National bank of Boston in its review Despite midsummer dullness, there has been noticeof able in sentiment in busine and financial circles. This better is accounted for by the lessening of necessitous relaxation of financial strain, sharp decline in suspensions and grow ing to grapple with knotty problems in Commodity prices have vanced steadily for four weeks, and the bond market has shown sustained firmness for some time. The Business Digest said For the first time months is ginning to show some signs of improv Steel production has rebounded sharply from the low established early July, car loadings are increasing by a greater amount automobile production holding as well as be expected at this time Rising prices breed the confidence a recovery from business depression; advancing bond prices not reflect in but also to accelerate that improvement. Therefore the strength evident in these two markets during the last month brightens the prospects of an autumn recovery in busiand security marked betterment of business and banking seen in the past month has been based largely on relaxation of financial tension following the outflow of gold, lessening of international and domestic political anxieties the reparations settlement and adjournment, improvement in commodity prices, strengthening of security markets, increased stability in business indicators and generally said Business good crop prospects, Week of York. east Portland bank was received at the offices of A. Schramm. state super intendent of banks today. The bank will be in the Mount district and will have of $50 000, surplus $20 000 and its of $5000 are E. B. Mac. Naughton, H. Mackie and C. B. Stephenson, all of Portland.

Bank at Silverton Closes.

First National bank Silverton, Or. for and its affairs were placed in the hands of the federal bank for liquidation E. Haight was and H. B. Arizona Latham, The latter E. R. Adams last spring.

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ADAMS ENDORSED AS BANK RECEIVER

SILVERTON, Aug. 15 — Petitions endorsing E. R. Adams, former cashier of the defunct First National bank at Silverton, for receiver, appeared on the streets at Silverton over the weekend. H. B. Latham, cashier at the bank when it closed, is also a candidate. It is rumored that pressure will be brought by some to obtain an outside man. The receiver will likely be appointed this week.

While driving a company truck over the North Second street crossing, George Winchell, of the Portland General Electric company, and T. E. Preston, were struck by a train which was switching there Saturday. The truck was damaged considerable, but neither Mr. Winchell nor Mr. Preston were injured with the exception of a shake-up and minor bruises.

Mr. and Mrs. Ben Scheeler and two sons, Jimmie and Earl Scheeler, spent the week-end at Silverton as guests of Mr. and Mrs. Warren Crabtree. Scheelers, who are former residents of Silverton, are living at Tillamook where Mr. Scheeler owns a large wrecking house. Mrs. Scheeler, as Miss Rider, taught in the Silverton schools.

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Silverton Bank on Right Side Ledger Shows Late Report

SILVERTON, Sept. 10—The assets of the First National bank which closed its doors August 1 exceed its liabilities by a margin of $51,518.87, according to the report posted by L. H. Kelley, bank receiver.

The report posted shows: Statement of condition of First

first grand child of Mr. and Mrs. Roy E. Tyler.

Announcements have been received here of the birth of a daughter to Mr. and Mrs. Walter Spier at Wilamina.

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Big Dividend Paid To Depositors of Springfield Bank

SPRINGFIELD, May was made Tuesday morning by Lloyd H. Kelley, receiver of the First National Bank of Springfield, that dividend checks payment of first dividend of 45 per cent all claims that have been filed and approved have been returned from the Comptroller Currency Washington, where they were sent for signature, and now ready for distribution the receivoffice in the First National Bank Building in Springfield. The payment of this first dividend of 45 per cent represents approximately distributed depositors Springfield and vicinity. The First Bank of Springfield business Oct. 1932, and Mr. Kelley was appointed receiver charge the bank Oct. 22. 1932. He also receiver the First National Bank of Silverof ton. Oregon. assistant receiver has been with the bank since October.

Mr. Kelley wishes understood that no dividend check will be delivered claimant unless the receivers certificate of proof of claim previousissued the receiver presented of the dividend. He for endorsement also requests that all depositors livand vicinity call ing in Springfield personally the receiver's office for their checks thus eliminating the pense of mailing same. Those living too far away call personally for their checks may have same mailed to them upon request, provided they properly sign the receipt for dividend and send together with their proof of claim his office. checks will sent by registered mail unless enclosed. The usual office hours 10 week days and 10 to noon Saturdays will be served during the distribution the dividend checks.

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Local News Briefs

Three Arrested — City police booked three motorists yesterday on charges of failing to stop. Municipal Judge Jones continued the case of Marvin S. W. Swire, of Portland, charged with non-stopping and driving on the wrong side of the street, and dismissed charges of failing to stop and not having a driver's license which had been listed against M. S. Farr, Oregon City. The third arrested was R. Clark Benton, Corvallis, who was cited to appear in court here this week.

3 Couples Ask Permits — Three couples filed requests for marriage permits yesterday at the county clerk's offices here. Melvin Flake, 25, 580 South 16th street, Salem, a garageman, asked permission to wed Lillian Story, 580 South 16th street, 26, Salem, a stenographer. H. Dale Wood, 24, 1434 State street, a service mechanic, asked permission to wed LoRayne I. Haag, 21, 1889 Court street, a housekeeper. Walter T. Timm, 2090 North Capitol street, a merchant, asked permission to wed Rosena Kerber, 490 South 14th street, Salem, a clerk.

Two Industrial Deaths — There were two fatalities due to industrial accidents in Oregon during the week ending February 7, according to a report released by the state industrial accident commission. The victims were Mike Thomas of Waldport and Hugh D. Logan of Portland. There were 490 accidents reported to the commission during the week.

Report Mishaps — Automobile accidents reported to city police yesterday involved the following: D. W. Moore, 555 Center street, and Grace Chandler, route four, on Ferry between Commercial and Liberty streets; P. R. Toevs, 275 North 20th, and R. E. Westphal, 456 North 18th, at 18th and Chemeketa. No injuries were listed.

Speeders Pay — Five dollars each was collected from two speeders by Municipal Judge Jones here yesterday. In the case of A. E. St. Clair, 420 Kingwood drive, West Salem, it was as a fine; in that of Harold Lee Broussard, it was in the form of forfeited bail.

Club to Meet — A Townsend club meeting is to be held Tuesday night in the Church of Christ at Shipping and Cottage streets. The meeting will be convened at 7:45 p. m. F. G. Delano will be the principal speaker. The public is invited to attend.

Receiver Sues — Lloyd H. Kelley as receiver for the First National Bank of Silverton filed suit here yesterday against J. H. Engeman seeking to collect notes aggregating $675 on which interest and principal are allegedly past due.

$1291 in Estate — The estate of the late Almond Willey Struker has assets of $1291 according to an appraisal filed in probate court here Saturday.

Baillee Visits Here — W. H. Baillee, former superintendent of the state training school for boys at Woodburn, arrived in Salem yesterday on business for the federal transient relief service. Returning to his headquarters at Roseburg he will take with him six transient men who will be placed in the transient service home for aged and crippled men. This home is operated in the quarters of what formerly was the old soldiers' home.

Report on Estate — The United States National bank and Erma J. Torgler, joint executors of the estate of the late J. Shelley Saurman, filed their semi-annual report in probate court here yesterday. Income for the period was put at $661 and outgo at $3718.

Fined $2.50 — Benjamin Walling, 198 South Commercial street, was fined $2.50 yesterday for failing to stop his car before entering a through traffic street, according to municipal court records.

Claims Rejected — A claim of George E. Mangis against the estate of the late Peter H. D'Arcy was rejected yesterday in an order turned down by Judge John E. Siegmund. Costs for the action were awarded the executrix of the estate.

Estate Valued — The estate of the late May F. Ohler has assets of a value of $775 according to an appraisal filed yesterday in probate court. Melvina Jaynes is serving as executrix.

Brown Estate Settled — Final account in the estate of the late Elva P. Brown was filed yesterday in probate court here by Chandler P. Brown, who served as executor.

Truth Class Meets — The Truth class of the Unity Center of Constructive Thinking will hold its regular meeting at the Marion hotel at 8 p. m. Tuesday. Miss Olive Stevens will lecture on "Unseen Forces—Spirits?" The public is invited to attend.

Hawley to Denver — Former Congressman Willis C. Hawley left Friday night for Denver, where he will spend a week on duties as member of the governing board of the Woodmen of the World.

Announce Convention — The Marion county Sunday school convention will be held in the First Evangelical church on February 22-23. About 1550 programs of the convention will be distributed in the Sunday schools today all over the county.

Speaks to Class — Representative Riddle of Jackson county was the principal speaker at the citizenship class held last night in the Y. M. C. A. His talk dealt mainly with the forms of legislation and with the forms of legislative procedure.

Forum Speaker — John Minto will be the principal speaker at the Tuesday night forum held each week at the Y. M. C. A. and will lead the discussion concerning economic security bills.

Serving Out Fine — When F. W. Cooper failed yesterday to pay a $10 fine assessed for being drunk, Municipal Judge Jones ordered him to serve out the penalty in jail at the rate of $2 per day, court records show.

Farnsworth to Speak — Captain L. D. Farnsworth is to address the Salem Kiwanis club Tuesday noon here. His topic will be "Lincoln and Defense"

Dyer Speak Today — Dr. F. Dyer, who has spoken many times for the Townsend plan over the radio, is to address a mass meeting this afternoon in the Salem armory here at 2:30 o'clock. Dr. E. Davis will introduce the speaker.

Final Account In — Final account in the estate of the late Lulu B. Pearce was filed in probate court yesterday by Edward J. Pearce, executor.

Obituary

Collar At the residence, 2290 N. Fourth street, February 7, Clarence Leslie Collar, at the age of 43 years. He leaves his wife, Floy Collar; children, Willard, Mary, Ada, and Edith Collar. Funeral services will be held Monday, February 11, at 1:30 p. m. from the chapel of W. T. Rigdon company. Interment Belcrest memorial park. Rev. H. S. Humphrey officiating.