Decatur Daily Democrat, Volume 56, Number 154, Decatur, Adams County, 1 July 1958 — Page 11

TUESDAY, JULY i, 1958 'll * ■■■ ■ - -I-

.limp ■ !■ H i i I Close Vigilance Over Stale Banks State Department Marks 25th Year INDIANAPOLIS (UPD _ Between 1925—four years before the famous stock market crash—and 1932, a total of 280 Indiana banks

I MILLER-JONES SEMI-ANNUAL B SHOE SALE] SAVE UP TO 50% I SANDALS I 3-87.4.87 I 1.87 - 2-87 I SMART STYLES—SAVE! I REAL BARGAINS! || B First quality ■nylons '' c I Full Fashioned . -. ? -■ _. B Drastic Reductions—All 9*fo APR I ■ Sammer Handbags 77c u 2.47| PRICES SLASHED! | WOMEN’S SUMMER B MEN’S SHOES I PLAY SHOES I 4-®7 I I B I MILLER-JONES I ? OPEN ALL DAY THURSDAY - SATURDAY NIGHT Till 9. M ... , -4 - , Congratulations! MRS. HARLEY J. REEF R. R. 2, Berne. Ind. v YOUR WISH v, L \ CAME] TREE InSjhe drawing on Saturday for last week’s winner your*wish for an Electric Skillet was drawn from sothjubi|ee | Whhhig Well ■ \ CAN W»N I ■ A Ser’S^V” 1 I ■ I EVERY WEEK! IT’S FREE! I NOTHING TO BUY! 9 Come In Today and Register Your Wish. It Can Come « ■ True Next Saturday. You may get any item in our ■ Mammoth display of Furniture. Appliances and Floor Covering up to SSO value absolutely FREE or a SSO credit « # on any item over that price. Just come in, drop your X | wish in the “Wishing Well” in our store. Saturday at Mg noon your name may be drawn. M MalicA ! ,f you don’t win this week try again. It costs fcsl nUIIG" ■ you nothing and each week another name |£|i will be drawn. I ****’ l You Do Not Have To Be Present To Win! I ■ n 9 Store I 239 N, 2nd St Decatur, Ind. Ph, 3-3778

and 149 other Hoosier financial institutions' went out of business. The reasons for their failures were not all the same, but one truth applied to them all. It appeared Indiana was “overbanked.” Today the Indiana Department of Financial Institutions, which is charged with seeing that savings and lending institutions are never again spread so thinly over the state, observes its 25th birthday aniversary. In that quarter-century the de-

partment, through its authority to grant. bank charters and to examine annually state-chartered Institutions, has assured depositors they need no longer fear bank clashes. The department’s vigilance over state banks, coupled with the Federal Reserve and the Federal Deposit Insurance Corpkeeps a man’s money as safe as he could ask. Bank Charters Easy Before the 1933 General Assembly passed its financial institutions law, bank charters could be obtained with little difficulty. Investigations of the need for a new bank and of its potential financial strength were seldom made. As a result, banks sprang up like dandelions, many of them doomed to wither. For example, i during the 1925-1932 period Farmland, a town of 850 persons, suffered two bank failures, and Kokomo, with a population of 33,000, lost five banks. Even the hamlet of Cates, a duster of families totaling 65 persons, had its bank failure. Since those depression days, few Hoosier banks have had to be liquidated, and most of those went out of business voluntarily, paying off depositors in full. On the other hand, relatively* few bapk charters have been granted? and even new branches of established banks have undergone careful consideration by the department and the bipartisan commission which heads it before coming into existence. A special study commission i worked two years to unify and [(strengthen control over Hoosier I financial institutions through the bill passed, by the 1933 Legislature. Probably the most outstanding member of the commission was Herman B Wells, whose work influenced his appointment as president of Indiana University four years later, when he was 37 years old. State Was Pioneer I '“lndiana was the first state to bring all financial institutions under one department,” noted Don W. Eisinger, supervisor of research and statistics. As a result of the anual examinations, Eisinger said, any weakesses in a bank that could ' lead to its failure would be spotted and corrected long before serious trouble developed. According to the department s director, Joe McCord, it supervises the activities of 342 state banks, 155 building and loan associations, and 158 credit unions. In addition, it keeps an eye on every loan made by licensed lenders, including pawnbrokers, small loan companies, and sales finance companies. The six-man commission winch manages the department is headed currently by Blaine H. Wiseman, president of the Old Capital Bank & Trust Co. of Corydon. Home Accident ROCKLAND, Me. — W — MrsPauline C. Hussey, 26, of Umon decided to scare off with a .22 rifle crows that had been bothering birds at a feeding station outside her home. She reached for the rifle. The cocked weapon discharged and the slug entered her stomach. She was reported in “satisfactory" condition following surgery. Heart Pensions < BOSTON —■ (ffl — Massachusetts spends six million dollars a year on pensions for former public employes who retired because of heart ailments or high blood pressure. Under Massachusetts law, any public employe having such an ailment is presumed to have suffered it as result of his work. Soap Collection SYRACUSE, N. Y. — (ffl — City Hall female employes weren’t too happy when they found Mayor Anthony Henninger’s economy drive on their hands. The women complained soap was no longer provided for their washrooms and thereupon began collecting money to buy soap. Trade in a gooo town — Decatur For & ( walls that get fingerprinted k m JI kv* M 9 UIN6COU B| eftWEH Akl-' Odorless Alkyd Scrub it all you want KOHNE DRUC STORE

M NSCATOX OAH-Y MWOCIUT. DJCAttm. btduma —— ——l

Three New Rotary Governors In Office South Bend Man Is Ziner Successor INDIANAPOLIS (UPD—Three men took office today as governors of the Indiana districts of Rotary International, where 92 Rotary clubs are located. They are O. Frank Helvie, a South Bend insurance executive, who heads 39 clubs In District 654 <North); W. Curtis Hoetetter, a Purdue University public informa-

l v ’*' / <\ \ ,f \ \Jr t \\ I I m \ V \ I I***! a- JCzQ n \ Vt \ LJ \k. v \ \ z ■ ? *^\ 8( j jz y 'Jl ' —jlMk.ißMn 111 / \ \ ® W ft 1 Z \ z ■ C 11 1 /\-x / v i i \ J / | S X i I /i ll / ——y Pl | 1K I v y a \ i J / m®""- —-— Wm i B ' C” "“j- : t \ v ’ "*****\ f / \-™r- ___■ B | 9 '*m9 \\X—A t \ _ 1 r-A \ Xt \X* V X \ Z''—> />-. i -- . x r is/ 'X 'v X X J I fi |9 Z 9w» Wi , /|F ... • I W’-C '*4 ’ . ' i \ SMlLEmaker SERVICE iis. • ( ~; v |Lt Perhaps we don't pamper you and your car quite this MARATHON SMILI-Maker SERVICE GUARANTEE , D . . [(SMIIf-malfPr M TheOitio Oil Company stands behind the Iforathon petroleum prodmvzh. Hut almost. M n ucts and Ihß autO mot.ve services available at this service station. We ■.r . , n 1 «« X< OCKVILt zZ guarantee that if you are not satisfied with such products and services, YOU See, to get the SMILE-maker SERVICE seal Ol ap- upon presentation to us of your evidence of purchase within 60 days proval we’ve got to be experts in the car services we the dß ‘ e such purci “ se ’ owney win * re,undwL offer—and have the equipment to do the job right H’M' B| HB MM HI Matter of fact, Marathon products and SMILE-maker Services are so good we back them with the broadest 8998 B j guarantee in the industry. B W - * ! \ O*»ZXX ’«’• o hi o ou c«. Home of SUPER-M® and MILE maker® gasolines ~ KENNY SINGLETON 11 DISTRIBUTOR of MARATHON PRODUCTS ’’ .. PHONE 3-4470 EDDIE EWELL’S MARATHON SERVICE 13th and Nuttmaii An. ; ■ ■ _ , DAN’S MARATHON SERVICE DAN EVERETT A 7th and Monroe Streets , -r Phone 3*2939 ,-, j, ui in. i ■ i I , I I J r~~" r- - .... II ■■■■■- I • NW

tteni staff member at Lafayette, who heads 29 clubs in District 686 (Central), and John E. Stemple, head of the journalism department at Indiana University at Bloomington who heads 24 clubs in District 658 (South). Rotary has about 6,500 members in Indiana. Helvie has been a Rotarian since 1921, Hostetter and Stempel since 1938. Helvie succeeds Clarence. P. Ziner, Decatur. Hostetter succeeds Donald J. Wickizer, Shelbyville. Stemple succeeds Bernard M. Webb, New Albany. A smooth sea never made a skillful mariner.

; w JF ... ww w t.. ~;^’-' T > IWS*- „tMs * TWICE SPEED OP SOUND —lt's Navy's newest and fastest Jet fighter, the McDonnell F4H all- J weather interceptor designed to fly faster than twice speed of sound, which made its debut at St. i Louis with a flight of the first production model. It is a two-seater twin jet, one seat for a 1 man. It carries air-to-air missiles and can lug a nuclear bomb. (VPI Telephoto) 1 : ' 0

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