A
EA ling
GROUP
JANKING WIDESPREAD
4
4 i. \
rma ——
er 13 Billion Dollars
of Bank
agsets in Affiliated Systems
Numbering 1,850 Members—
In Nearly Every State.
\
Jver 1,850 banks with more than
fteen billion dollars in
resources
shown to be associated with chain
group banking systems in the
jted States in facts recently gath-
d by the Economic Policy Commis-
a of the American Bankers Agso-
tion. The chairman of
the com-
ysion, R. S. Hecht of New Orleans,
nted out that the facts indicate that
most 7% per cent of our banks and
fr 18 per cent of our banking re-
irces are in the great net of group
chain banking that now
covers al-
st every part of the country.”
’he commission’s facts comprised
iin and group banking affiliations in
| broadest sense of the ter
m, the re-
it sald. They included those groups
which the controlling element was
articular bank, there being report-
78 instances of this class
involving
banks and about $6,473,000,000 in
pbined banking resources.
They
juded also groups in which a non-
1king holding company,
jary to any particular
trol and of this class 28
not sub-
bank, was in
instances
ve found, involving 380 banks and
rly $5,336,000,000 in resources. The
ort also
included groupings in
fch control was exercised by in-
idual persons and these cases num-
ed 167, involving 1,071 banke and
yut $1,468,000,000 in assets.
The Total Figures
rhe total was over $13,275,000,000 in
(regate resources. Some of the sys-
as comprised
ad offices of the groups were
50 to 100 banks each.
found
all jurisdictions, put nine of the
tes and the District of Columbia.
‘We have not included in
)s,” the report says,
these fig-
“banking
yups in which a commercial bank, a
st company and an investment
ise, and sometimes a savings bank,
y tied together by some form of
ck holdings and operated as com-
mentary elements in an
organiza-
a rendering complete financial serv-
g. We have held that su
ch groups
y similar to a departmentalized bank
i different in the purpo€es and op
tions from a chain or group bank-
; system.
‘For purposes of the present report
define chain or group
ns
iether
her rigid or informal,
prations of two or more
aks,
banks as 8ys-
in which centralized control,
corporate or personal and
directs the
complete |.
not functionally complemen-
vy, each working on ite own capital
d under its own
personnel and lo-
-ed in one or more cities or states.”
yommenting on the questi
the rapid development
nking was in the nature
on wheth-
of chain
of a reac-
n against restrictions imposed on
inch hanking by the ban
many states the report
servation
g theory since chain b
king laws
says that
does not wholly confirm
anking is
svalent in some states where vir-
ally no restriction is imposed on
anch banking,
as well as in those
ere the establishment of branch
nks is prohibited. It adds:
The Question of Branch
Banking
‘However the facts do show that
ti-branch banking laws have been a
stor in some cases,
and probably in
me sections, in the spread of chain
pking. Instances have co
me to our
.ention where expansion along chain
nk lines has been carried out by
ite banks whose expansion along
anch bank lines was stopped by the
ssing of state laws prohibiting fur-
sr branches. Yet whether
expansion
yuld have been along pranch bank
es if the laws
irs,
nad imposed no bar-
it is impossible to say." There
obviously a well developed banking
inion in some sections
that the chain
nk method brings to outlying banks
p strength and efficiency
of a big
ganization: without depriving them
their local individuality and sympa-
ies.
In view of the mixed factors
ted, we feel it is unsafe to general
y as to what bearing
branch banking
ws have on chain developments.
«The recent era of rapid chain bank
velopments has found s
pecific re-
ction in some state legislative ae-
yn tending to restrict or control
ain or group banking. Also we find
sharp difference of opinion among
ite bank commissioners
pressed their sentiments
ain banking.”
who have
regarding
In a foreword to the report, issue
booklet form by the association at
y New York City headquarters,
airman Hecht says that
mic Policy Commission
"the Eco-
does not
ke a stand in advocacy of or in op-
sition to this new method of con:
ntrating banking resources through
e affiliation of banks into groups and
ains,
ding body what we
st complete national picture of
pidly growing movement.
eer ———
put is simply offering as a fact
believe is the
this
SCHOOL SAVINGS GROW
A total of 4,222,936 school children
rticipated in school savings banking
the United States during the last
hool year, depositing $28,672,496 and
1ling up net savings of $10,539,928,
inging total bank balances now cred-
sd to this movement to
above 50
illion dollars, according to the an-
ial report of the Savings
Bank divi-
on of the American Bankers Asso-
ation. Schools to the number of 16,
7 are enrolled in the plan.
: From Lakes Far Inland
Salt is so common ‘and so inexpen-
sive that ‘one 8 apt to loose sight of
its value and necessity. In certain’
parts’ of the orient salt is so scarce
and so valued it is used as & medium
of exchange. France has no salt nines,
and, as far as the smooth table variety
ip concerned, she is entirely dependent
upon imports. You see a fomous brand
of English packet salt in all’ paris of
the country. But it’s an expensive busi-
pess getting it to every swall town,
and that is where the Etang de Berre
comes in handy. It is on the road to
Marseilles—you pass it away to your
right—and it is the largest of dll the
Etangs. They are great lakes of sea
water, fed, often underground, by. the
sea; and they are dotted along the
Mediterranean coast from Marseilles
to Spain. You find them again in the
Landes, that flat, marshy stretch in the
neighborhood of Bordeaux. Shallow
evaporation pans, leading away from
the Etang de Berre, and looking in
the distance exactly like vast reser-
voirs, have been built, and these are
filled from the lake. They are then
dammed off, and dry air and blazing
sun do the rest.
All History Recorded
in Scheme of Nature
Nature will be reported. All things
are engaged in writing their history.
The planet, the pebble, goes attended
by its shadow. The rolling rock leaves
its scratches on the mountain; the
river, its channel in the soil; the ani-
mal, its bones in the stratum; the fern
and leaf, their modest epitapb in the
coal. The falling drop makes its sculp-
ture in the sand or the stone. Not a
foot steps into the snow or along the
ground, but prints, in characters more
or less lasting, a map of its march.
Every act of the man inscribes itself
in the memories of its fellows, and in
his own manners and face. The air is
full of sounds, the sky of tokens, the
ground is all memoranda and signa-
tures, and every object covered over
with hints, which speak to the intelli-
gent,—Emerson.
Walt Whitman
Whitman was a great liberator, a
great humanitarian, a great American,
a great man; was he, therefore, a
great poet also? Intellectually in-
dolent, emotionally mushy, spiritually
chaotic and formless. Walt Whitman
is the great American now safely and
securely enshrined and embalmed in
the hearts of his countrymen not be-
cause of his poetry, but because of
his patriotism.
There is wonderful poetic fire in
Whitman as there is in the life and
work of every great liberator. -
Whitman was not another Shake-
- gpeare nor another Milton nor another
Shelley. If he is not of this immor-
tal company, is he truly a great poet?
Though no one need deny that he
was a superb human being writing
astonishingly human poems. Poignant
prose poetry—From “Our Changing
Human Nature,” by Samuel D. Schmal-
hausen.
Sea Eel a Menace
There is a species of sea eel which
darts like lightning at a human vie-
tim and sinks its sharp teeth into an
arm or ankle. A man would be help-
less against one of these creatures
were it not for a trick familiar to the
South sea natives. In its lightning-
like dive the eel gets any grip it can
and holds on. Then it waits for the
victim to weaken, when it will relax
its grip and try to get a more ad-
vantageous one. All the attacked
person has to do is to endure the pain
until the fish opens its mouth. Then,
if the man moves quickly enough, it is
possible to escape to the surface by
pushing the creature away.
Pulling Power of Horses
Large horses are better than small
snes for pulling heavy loads, tesis at
the [Illinois agricultural experiment
station have disclosed, authgugh many
“good little team” will outpull a big
zine. Trials were made with 144 dif-
ferent teams, and accurate rmeasure-
ments of their performance taken with
a dynamometer. It was also found
that a good disposition was an im-
portant factor in the animals’ success
as pullers, and skillful driving was
shown to be as necessary as good
horses. .
Ben Damph Is Damp
Ben Damph, a rambling country
mansion belonging to the Lovelace
family, is perhaps about the most in-
accessible house to be found even in
Scotland. It is also one of the wet-
test. Rain falls almost continuously.
The nearest village is about eleven
miles away, and the household is con-
sequently, of necessity, self-supporting.
Fish from the loch, cattle from the
pasture, and game from the moor pro-
vide the staple sustenance of those
staying at Ben Damph.
Electrical Term
The bureau of standards says that
a lazy-man switch, also called a three-
way switch, is electrically a single-
pole double-throw switch. Using two
of them, a light can be controlled from
two places, such as upstairs and down-
stairs in the case of hall lights. A
related switch, called a four-way
switch, is electrically a double-pole re-
versing switch. Any number of four-
way switches may be used with two
three-way switches to control a light
from any number of points.
But-
horse owners have insisted that a |
one, says Popular Mechanics Maga- ;
ee
ioe
TRIP TO
Mystery Ship Expected t>
Lower Record.
Atlanta, Ga.—Some time next spring
when the elements between Los An-
geles and New York returp to nor-
maley, Doug Davis, crack Atlante pt-
jot, expects to fly the distance i»
sbout twelve hours.
The record, now held by Cap. Frank
Hawks, is close to seventeen hours.
But that fact apparently offers little
obstacle to the man who recently
clipped three hours from the record of
the trip from New York to Atlanta.
He used a Travelalr “Mystery” ship
—a bullet-like monoplane which looks
like a bumble bee upside down but
which functions with unprecedente’
efficiency.
Would Fly Straight Up.
Davis won the cup for America’s
most meritorious Ayer of 1929 in the
same projectilelike craft at the Cleve-
land air races. He was in New York
early in November and wanted to er
+er it in an air race in Atlanta.
80 he took breakfast in Gotham and
funch in Georgia, actually flying the
800 miles in four hours and thirty
minutes through rain and fog. The
entire trip required five hours, with
two stops of fifteen minutes each for
fuel,
Davis believes his “Mystery”. ship
has greater pessibilities than any simi-
ilar craft extant, believes its highly
developed maneuver ability and ex:
cessive speed would make it an in-
vulnerable fighting unit in time of war.
He recently sald that shortly he ex-
pected to open its throttle somewhere
in the vicinity of the ground, point its
nose “absolutely straight up,” and cut
swiftly heavenward for one solid mile
at an angle of 180 degrees.
Fastest Climbing Plane.
Already he has climbed to 3,000 feet
in that manner after a 250-mile-an-
hour start. Present equipment of the
plane, he said, does not permit more
altitude because of gas tank adjus’
ment, which he expects to alter.
The plane can take off at an angle
greater than 45 degrees and hold It
“all the way to the ceiling” Davis
said. “I believe it is unquestionably
‘he fastest climbing plane ever built.”
It is an open cockpit affair and re-
sponds so swiftly to the controls that
a sudden change of direction wiil pro-
duce temporary blindness for the pl-
lot. That happened in the Cleveland
races, Davis said, when he rounded #
oylon too abruptly.
A nine-cylinder motor of 300 horse
power twirls the plane's 22 degree
pitch propeller 2.200 revolutions per
minute and propels the whole craft
tore than 250 miles an hour.
“a novice ig out of place at its con-
trols, but it is perfectly safe in the
hands of an experienced pilot,” he |
said.
Plans Airplane Capable
of 2,000 Miles an Hour
New York.—Within a few years
Fritz von Opel, German inventor of
the rocket powered car, hopes to have
perfected a practical airplane capable
of speed of 2,000 miles an ‘hour. The
machine, he said, would be driven by
a new fuid explosive which his engl
| qeers are now testing.
This fluid is produced by combining
two other high-powered explosives
according to a secret formula, and by
next year, Von Opel said, he expects
to have built a rocket driven plane
with which he will attempt a flight
qcross the English channel.
Herr Von Opel, who is only thirty,
arrived in New York recently aboard
the North German Llyod liner Colum-
bus with his wife. He is to remain
in the United States for a year, study-
ing the motor industry, and also will
confer with navy officials at Washing:
ton.
The young inventor ridiculed the
idea of shooting a rocket to the moon,
and especially that of a man travel.
ing to the moon in a rocket driven
car. His rockets have far more prac
tical use, he believes.
Tax Irks Chinese
Shanghai.—Angry at a new 30 per
cent “superstition fax” which the local
Chinese municipality has ordered
levied against religious incense and
candles, shopkeepers affected have
joined to resist the duty and threaten
to declare a strike unless the order is
rescinded.
Loitpitreiplpstostsatpatantaitantadaiodiosiosiondsodosdesfesiosloafreivd
Millions of Children
in China Illiterate
Peiping, China.—Three mil-
lion Chinese children in Hopel
province alone are unable to
read or write in their own Or
any other language, the depart-
ment of educativn of: the prov-
ince reports.
The department urges institu
tion of compulscry education for
all children as soon as possible.
but estimates that such a pro
gram would require $30,000,000
at the start, and as the province
has been bareiy able to meet
ordinary administrative ex
penses, it is not velieved that a
real beginning can be made in
the near future.
As a temporary measure, the
department suggests that com-
pulsory education be started
first In large cities, where the
[ people may be able to afford it,
b ‘
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3 Edude
a i i a
12 HOURS
Ti ——Ralph:Russell Sloat, “of: Scran-
ton, -and Nicholas Watkins : a“ Phila-
delphia negro, scheduled to go to the
Monday morning, have another
month’s lease of life, as the board of
pardons has continued the hearing
on their application for a commuta-
tion of sentence until the Febru-
ary meeting of the board.
XECUTOR'S NOTICE. — No is
hereby given that letters testament-
ary in the estate of L.
Hutchison, late of the Borough of
fonte, deceased, have been granted to the
undersigned by the Register of Wills
Centre County, All persons indebted
the said estate are requested to make
pafent of the same and those havin
claims against the estate to present he
duly er for adjustment and payment,
T NATIONAL BANK, E tor,
75-1-6t Nefonte. Penn .
DMINISTRATOR’'S NOTICE—Letters
\ of administration on the est
Anna T. cLaughlin, late of the
porough of Bellefonte, county of Centre
and State of Pennsylvania, deceased
having been granted to the undersigned
all persons knowing themselves in
to said estate are hereby notified to make
immediate payment of such indebtedness
and those ving claims will present
them, properly authenticated, for settle-
ment.
J. M. CUNNINGHAM
75-4-6t Administrator.
A administration on the es-
tate of Esther K. Gray, late of
Patton township, Centre county, Pennsyl-
vania, deceased, having been gran to
the undersigned all
DMINISTRATOR'S NOTICE— Let-
ters
persons knowing
themselves indebted to said estate are
requested to make immediate payment of
such indebtedness and those having
claims should present them, properly au-
thenticated, to
GEORGE M. GLENN, Administrator
Th50.6t Harrisburg Academ
Harrisburg, Pa.
UDITOR'S NOTICE.—W. A. e V8.
H. F. Bosley, in the Court of Com-
mon Pleas of Centre county,No. 49
February Term,
Notice is her
1930.
by given to all rsons
{in interest by the undersigned, appointed
Auditor by the Court of Common Pleas
of Centre County to piss upo nthe facts
in dispute, determine the respective rights
of the plaintiff in the writ of execution
to the above Number and Term, and the
rights of other claimants to the whole or
any part of said fund and make a sched-
ule of distribution, that the undersigned
has fixed Tuesday, the 11th day of Febru-
| ary, 1930, at ten A. M., for a hearing
| in Temple Court, at which time and place
| all parties in interest are requested to at-
' tend and they shall be h
: eard.
75-3-3t ELLIS L. ORVIS, Auditor
ee
i OTICE IN DIVORCE.—Agnes
{ Summers vs. Nevin Floyd Summers.
| In the Court of Common Pleas of
Centre County, No. 47 November Term
1929. Libel in Divorce]
To Nevin Floyd Summers, Respondent.
WHEREAS, Agnes Ruth Summers, your
wife, has a libel in the Court of
Common Pleas of Centre County, praying
a divorce from you, now you are hereby
notified and requested to appear in the
Court on or be
ore the fourth Monday
of February,
1929, to answer the com-
plaint of sald Agnes Ruth Summers, and
in default of such appesrance you will
| be liable to have a divorce granted in
your absence.
ARRY E. DUNLAP,
Sheriff of Centre County
January 22nd, 1980. 75-4-4t
S HERIFF'S SALE.—By virtue of
d the Court of Common Pleas of Cen-
| tre County, to me directed, will be ex-
( posed to. public_sale at the Court House
| in borough- of Bellefonte on
| FRIDAY, FEBRUARY 7th, 1930.
|
a
The Following Property:
ALL that certain messua,
| ad tract of
| of Union, "County
e, tenement
16 e Township
of Centre and State of
land situate in t
| Fepnsyivania, bounded and described as ie
: cd
follows, to-wit:
| BEGINNING at a
! side of Bald Eagle
land of Ida M. Lucas, formerly Walter
| W. Lucas, North 49 degrees and 30 min-
utes West 116 perches to stones; thence
along land of Martha L. Hall formerly
| Robert Hall, South 56 degrees 30 min-
| utes West 68 perches to stones; thence
South 25 degrees East 108 perches to a
on the South side of Bald Eagle
thence along the edge of said
: of Mills Alexander North
' 48 degrees and 30 minutes East to a post;
| thence along same North 62 degrees, East
| 92 perches to a st, the place of begin-
ning. Containing 61 acres and 100 perches.
Seized, taken in execution and to be
| sold as the property of Edward A. Peters,
' owner.
| Sale to commence
; of said day.
ost on the South
reek; thence along
. Creek;
Creek by lands
at 1:30 o'clock p. m.
. BE. DUNLAP, Sherift
| Sheriff's Office, Bellefonte, Pa.,
. January 13, 1930.
EED
F
chair at" Rockview, ast |
Te Put Your Cash in a Good Bank
~OME people still keep too much money at
home. It is subject there to many
dangers. Recently, a man in California
according to the Public Ledger, put more than !
$700 in a tin can and buried it in his yard.
But certain insects found their way into
this home-made bank, and finding that the bills
were good to eat, maybe they had grease on
them from handling, reduced them to powder.
Now the owner is trying to convince the
Treasury Department that this dust represents
good money—which will be difficult.
Better put your cash in a good bank.
THE FIRST NATIONAL BANK
BELLEFONTE, PA.
writ of Levari Facias issued out of |
Complete Commercial
Banking Service
=D
ANAL TMOR VAG)
o the Business Men of our com-
munity, this reliable Bank off-
ers unsurpassed facilities of a
Banking
FRNA\NAR SARA HRMAAAIO AARANTO IANO
complete Commercial
Service.
THE FIRST NATIONAL BANK
STATE COLLEGE, PA
MEMBER FEDERAL RESERVE SYSTEM i
rr Ths End
GAN
75-3-3t | {0
If Your Overcoat. Size
| We offer subject to Market changes: Iu Ea
1
| per 1001b | Is 38 or Larger
| Quaker scratch feed ..occcooomeee 40 | E
| ake FULO Fer egg mash od L bl
uaker 209, dairy ration... 50 | | i
er 247, dairy ration 268 you will find what you want at Faubles
| Quaker calf meal.........cococoee 4, 3 3
| Quaker sugared Schumacker.. 2.30 at prices that will save you from
| Wayn~ 329% dairy ration... 3.00
Wane 237% dairy zation Ha 20 [
Wayne 209% dairy ration........ .65 |
Wayne egg mash... 3.25 ; J y D Il :
Wayne oge mash. 322 Ten to Twenty Dollars
Wayne 289, hog meal Sa .
A 180 ON A SINGLE OVERCOAT
A. middlings ............... 2.30
B. middlings ........... . 2.00
Corn and Oats Chop..... 2.00
Cracked COTM .oooenvivisnsensinsosurssas 2.23
Corn CHOP cooceeconmemeimnemnnnenceceas 2.
Flax Meal ...ooooooommeeiinnerinneiens 2.40 » i
Linseed oil JT 390 e have left 54 Men’s Overcoats ”
otton seed meal..............cccceeee ; , i 1 ie
Gluten feed "I 250 \ V nothing smaller than size 38—an
Alfalfa meal ......oeoiiieiiiiiennee .
a scrap em 100 we are out to make a complete
Hog tankage ..........coooenees 2.70
Oyster Shells ......oememseneens 1.00 clean-up.
Mica spar grit... 1.50
Stock Salt .ooooereiiienneeens 1.00
Common Fine Salt. 1.25
Quaker oat meal ............... 3.40 , .
Menhaden 55% fish meal....... 4.00 It’s our loss and we are taking
Bone neal Sr Ai aera id
Charcoal .................. 1 i
Dried buttermilk ... 9.50 it gracefully ’
Dried skim milk 9.00 : .
Pratt's poultry worm powder.. 10.00 it’s your opportunity.
Pratt’s poultry regulator... 9.00
Cod Liver Oil cans gal... 1.80
Cod Liver Oil bulk gal... 1.30
Orders for one ton or more de-
livered without extra charge.
We make no charge for mixing
your rations.
Your orders will be appreciated and
have our careful attention.
A. F. HOCKMAN
Feed store—23 West Bishop Street
& : : Phone 98-3
Mill—Hecla Park, Pa. Phone 2824
5-2tL.