Indianapolis Times, Indianapolis, Marion County, 13 May 1951 — Page 9

13, 1951 SUNDAY, MAY 13, 1951

Rural Bankers Are Gleeful Over New State Deposits

Lending Capacity “Is Increased

By. IRVING LEIBOWITZ Between harvests, the Hoo-| | gier farmer often makes a trek into town for a loan from his bank. Could be he has to buy a

new plow, fix his tractor or

outfit his youngsters in new § clothes for school. : | & Sometimes the banks have to soft-pedal the loans. This happens when banks reach theis Joann! able limit. So, the rural bankers were pleasantly surprised- when State Treasurer William IL. Fortune anoa nounced recently he was redis- : 2 tributing $38 million of the state's is funds to banks over the state. H. Lilyons... Mr. Fortune withdrew the| funds." money from several metropolitan banks, principally three @nancial{Penefit a lot of communities that|yoy were going to divide the state institutions in 17 three gy and Probably need help during these funds without regard fo friend-| deposited the sum in more than|strenuous times.” ship.” 400 rural Hoosier banks. From Lebanon, Banker Paul A.

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P. A. Morris . . . "loans not speculative.”

| |

George T. Wood, Goodland—|

This had no sizable effect on Morris wrote: “ All h he banks to b ble! : . ’ the Indianapolis banke. , "At this time we are loaning Be ig a niture. Come in tomorrow and make a deal. WE'LL TRADE Will Aid Farmers a lot of money to farmers fOFiy incesey in their areas that FOR ANYTHING.

{buying feeding cattle, feedin However, the additional funds jambs, for the purchase of os otherwise might not be accommo-

will enable the rural financial in-|implements and the b dated.” '| stitutions to make more loans to a seeds, ig we R. 8. Baldwin, Fortville—"Our § farmers. (know our customers personally bank was opened in 1906 and ex-| § As a result, farm communities and go into each case very care-| CPt for a savings deposit made will prosper. fully and we feel that these loans! during the time McCray was gov-| While the state regards the are not speculative in any sense ©rNor, we have never had a penny| § funds in the majority of these|cf the word, but assist our good of sate money in our bank.” | = rural banks as dormant or in-/farm customers, and also help to| Harold M. Cox, Plymouth—"1| ¢ active, the banks still have full make possible production of foods am indeed very grateful for this P right to use the money for loans.|which are so important at this very kind consideration. In fact, However, the state can’t with-|time.” I am about to bust over it.” | § draw the sums plecemeal, as with| Other bankers sald: M. E. Palmer, Boswell —“I| actlve accounts. It must with-| T. J. Waters, New Washington opened a letter at my desk this draw the funds by voucher of the|—"“This deposit comes at an op-|/morning that contained a deposit i 4 treasurer. {portune time for us, with thejof $3 and the next one had your + Mr. Fortune's redistribution of pressing demand for new loans,|deposit of $75,000—quite a con- . funds came at a time when farm which include school bus financing |trast. I want to thank you very loans were running “abnormally for some local township units.” [much for this. I have been cashier high,” according to Joseph Mc-| 8. E. Alexander, Bloomington—|of this bank 38 years and such a Cord, director of the State De-|“We are delighted to know that|thing has never happened before.”

{

~ partment of Financial Institu-|the political affiliations of bank| John F. Wilhelm, Hammond—

= Herbert L. Lyon, president of state deposits without additional monopoly on these deposits.”

i tions. ‘ |officials were not considered in “This distribution of state funds sf! at The rural bankers hailed the this division of funds.” | proportionately among all banks 3 Chg i Ty A . wo 5 new distribution. Many of thers D. R. Wygant, Huntington—|of our state is certain to meet 5 4 ¥ . es WALN UT or ~ wrote complimentary letters, “This is the first time in the his-|the popular appeal of all institu- Nw ~ thanking the new state treasurer./tory of the bank that we received tions except those who had a INNERSPRING MATTRESS ROOMY CHESTS 3 Pe M( JDERN BEDR( )( WM Regular $239 95 ow - . ® oo

the National Branch Bank of| solicitation.” W. O. Osborn, Culver—“This is} Nationally adv. make. Imported Choice of Maple or Walnut finish! 4- Less Trade-in $50.00 © Madison, said: Charles Talley, Nashville — the first time we can remember } damask cover. 252 Coil springs. Drawer, 5-drawer and 6-drawer chests! ’ y . : : : © _"...Country banks, particular-| “After the long years of govern-|that any treasurer of state has c, i.4 hair filling. Ample storage space for your clothes! ~~ Here's a sensationally priced modern bedroom. Beautiful walnut or $ 95 of ly at this time, need more loan-{ment such as we have had in/ever been willing to give the $ 95 limed oak finish. Includes full size bed, double dresser and chest of : ~ able funds, and your action in| Washington since 1933, it was al-|country banks a fair proportion $3995 19 up drawers. See it tomorrow : Poe ~ making these allocations willimost unbelievable to learn thatiof state funds.” : : :

$1 DOWN DELIVERS

Adm. Zacharias Scheduled [Fomed Doctor, 5 Others

| 1562, | : Hurt in Head-On Crash c room Su : To Speak Here Wednesday| weuiesisr. sass, wey 12f E 3-Pc. Bedroom Sule +] To Speak Here Wednesday wmuzeuxr ve, sr 2}. 3-Pc. Bedroom Sule . " wii : tod with in es sus- i 2 obliga- Far Eastern : Affairs p Be jaiiced 8 » vith in) coliiaton Anniversary Sale Price ener $11808 1 } ; Expert Returning gs 3 Sonvens sul ean Less Trade-in Allowance ........ . 3 I Rear Adm. Ellis M. Zacharias, automobile of a nationally known Waterfall style, beautifully finished Jormer Navy intelligence officer doctor. i 2 ¢ ¥ in blond or walnut. Large round and expert on Far Eastern af- § In critical condition w pos-| \ Lr . . re 1 fairs, will return to Indianapolis sible skull fractures were Miss £ 1 rg AE 2:11 mirror, vanity, bed and chest . . . | Wednesday to- 34a the lunch- Martha Perkins, 19, of Corpus! id V3 a iy all for only . . Sale Price a —— eon meeting of the Indianapolis Christi, Tex. a student at Pine og Executives Club in the Claypool } Manor Junior College here, and PLATFORM ROCKERS CHILD'S (RIB Hotel. Miss Ada Bixby, 47, a receptionist : al Adm. Zacharias, a navy intelli at Boston City Hospital. | Actually a lounge chair and a rocker Finely made in Birch or Maple. Drop gence officer, helped bring World § Miss Bixby was a passenger in] —all in one—they rock gently on side style. Easy roll casters. War II to a conclusion with per- the car driven by Dr. Edwin fl sturdy steel springs. $ 95 sonal broadens i non-military Place, 70, of Francestown, N. H.,| $ 95 24 clique friends in Japan. authority on contagious disease, 39 Urged Surrender who suffered a broken leg and] $1 DOWN DELIVERS EASY TERMS . In a series of 18 broadcasts, Inuitifle cuts and bruises. $1 DOWN DELIVERS 65 WEEKS he personally urged his old | friends to plead with Emperor : ; TO PAY Hirohito to disregard the military . men and surrender the hopeless f 32 fight against the U.S. i man Now on a lecture tour, Adm. : —— . Zacharias will speak on “Behind Adm. Zacharias

TT , Closed Doors,” title of his latest! book on the secret history of the May 22 Proclaimed cold war. His earlier book, . ope “Secret Missions” was a vest National Maritime Day seller, | WASHINGTON, May 12 (UP) The admiral also is famous for|—President Truman today prohis March, 1941, prediction on the/claimed May 22 as National details of the Japanese sneak|Maritime Day and said the Amer- : attack on Pearl Harbor. He/ican Merchant Marine must be 4 predicted all major details except kept ready to help “in meeting i the exact date. the threat of aggression.” Adm. Zacharias appeared on| During the past year, he said, the Town Hall series here in|the Merchant Marine displayed

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January. again “its ability to support the ing Too Now sale-priced! military forces of our nation by . $2 95 i furnishing supplies to the fight- i Wife of Soldier ing men engaged in the Korean { $1] 295 | Dies of Poisoning hostilities. | $1 DOWN DELIVERS

FT. MEADE, Md., May 12 (UP) —Mrs. Emma M. Voie 24-year. Draft Deferment Eyed | old wife of a Webster, 8. D, For Licensed Seamen soldier, died at the Army hospital WASHINGTON, May 12 (UP) | here today of acute phenol pois-|—Local draft boards may be

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oning. {urged to defer licensed merchant iaht i . : ; Officers at the post said Mrs. seaman to ease the “critical” mer- 22nd & ILLINOIS og uy fos 2m EASY Anniversary Sale Price ceerannenniibgnnseaienensn. $179.98 Jensen apparently had swallowed chant marine manpower situation, | 4705 E (Oth Ben: store TERMS Less Trade-in Allowance .....cecovecassnpppaisaserccnne 50.00 carbolic acid. They said Mrs. Seinctive Service officials said to- ° age. ga Jensen was stricken while visit- day. . : ing friends in nearby Laurel,| Draft headquarters sald the 3350 W. WASH. $2495 65 WEEKS All guaranteed construction. Choice of red, Kelly $ $5 Md. Maritime Commjpsion would try 2740 MADISON $1 D TO PAY reen, rose or gray. Beautifully upholstered in MEho/E own Delivers viere......... sivas sean ale Price y

member of the 3d Armored Cav-| for the reactivated Merchant Maalry Regiment, was asleep in the rine fleet by a recruitment drive st barracks when his wife was|among World War II seamen who, rought in from Laurel. have taken permanent jobs on and.

Her husband, Harley Jensen, a to meet its manpower ant Ma. |

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; Lecture : | Thieves Flout Lec is Boy Bites Dog | VICKSBURG, Mich, May McKENZIE, Tenn, May 12

(UP)—Thieves broke into the . (UP)—H. C. Bryant watched a, principal's office of the Vicksburg groap of boys being snnoyed by 8

tole $100 while, OE oe Raymond W. Fox Pup Which kept biting their trou-

3167 E. NEW YORK was addressing the students. Fox'|Sers. Finally, one boy grabbed the

subject was “Crime and Punish- dog and bit his ear. The pup left|

the lads alone. Jil OY 1H

ment.” . -:

i pen | Meator for Indian mopolis | “ATTENTION! NT. S 1 i ri Sy —-— re g fn A (UP)—Tired of fixing broken oy For The First Time a Professional : ; HOLLYWOOD BED, for MODERN PL ASTIC SOF A BED he

tomobile springs ‘and flat tires, Delivers Harold L. Blood asked the city Permanent Wave at a Drugstore Price : Complete! With a beautiful : . HOMOGENIZED PERMANENT Includes two twin beds, guard rail and ladder! Use as Duran Plastic headboard. A $5995 A beautiful sofa by day . . . full-size bed : twins or double decker. Will stand lots of hard use. recl chance for big’ sivinge! for two at night! Your choice of smart, 749%

council to have white lines paintFormula 37 Maple finish. $9 DOWN DELIVERS new colors. Hpeciolly Propered $ 2 49 $11.25 DOWN DELIVERS ®

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ed around holes in the streets.

Por Youl | AY A gwwalonl Jot me | SERVING THREE GENERATIONS OF HOOSIERS FROM THE SAME LOCATION tome Ri. 0481 or MM. 6090 ENTIRE STORE MAIL ORDERS INVITED NO APPOINTMENT NECESSARY OPEN TILLO P.M. from our out of town = Good Turn Left from Elevator | TOMORROW NIGHT customers ws ROYAL BEAUTY | 55 [1] AMD EveRy Foo Devry wire bn nd a rr Ae, =| ores (11 MONDAY-AND-FRIDAY- een RISTO Cath ok Fill x si 401 Recaavel Bid, 010M. d