The Cedarville Herald, Volume 56, Numbers 1-26

■eRe The action of the stockholders of tho Xenia National Bank in electing Mrs, Mary Little Dice as a director is an inovation in this section of the state but not an inovation when her l H t C f c D A R V I L L E H E R A L D KA&LH BULL — — — EDITOR AND PUBLISHER MUkMUMU K a 't 'C S l K d lto tla i A jw oc . j O h io N *w »p *p c r A sso c.; Slittict V a lley P ress Assoc. iintwred at the Post Oft1.*®* Usdarville, Ohio, October 31,1887, ag a :eeond class matter, FRIDAY, JANUARY 13, 1933, no t a l l bu ild ing a n d loans in trouble Those that follow Columbus newspapers may get the idea that all the building and loan associations in the state are bank- . . . . . . . . rupt and should be closed by receivership or other legal process experience m handling business mat- regardless of the loss to home, farm owners 9r those who have ters is taken into consideration. Mrs, money deposited with the institutions. Dice comes, from a family long noted Judging from the nature of the campaign being conducted for their business ability and their in Columbus citizens are being urged to bring receivership success as executives. She is a sister in wuiwwww v, . .. ■ -0- - • - ----------- 1of the late George Little, former pres, ident of the bank, and one of the best business men the county ever pro­ duced. Their father was the late Hon, John Little, statesman, lawyer and recognized financier, who at one time was president of the same institution, Mrs, Dice while a resident of Califor­ nia was active in business affairs for herself. She is a woman o f conserva­ tive judgment and one who has kept up with the trend of the times in busi­ ness circles. She is held in the very highest esteem in business circles and will he a valuable addition to the board of directors to which she was elected. We are making headway towards'that made ?17,090 in 1930, Conditions reduction in some way*. This year the inauguration of cjov. White is said to have cost the state only |1J».40. Two years ago the inauguration cost the state $1,194.41 and people won­ dered how it could be done. The cost this year is in contrast with what it cost to induct Gov. Cooper into office, ¥14,663.36, are such that i f you do not use some booze you are boycotted and no min- - ister can open his mouth against it. ‘ He says the business is more profit­ able in parlors thaqf saloons as men can drink more, sitting down than1 standing up at the bar. He warns a- geinst adoption of the Canadian sys­ tem. suits, if for nothing else than to muddy the waters for the man­ agement of ail financial institutions in the state. The institution in question in Columbus is the Columbian Loan Association and back of this newspaper disturbance evidently is a bank fight, the Columbian not being a depositor in a chain banking system that is under the same control as the two newspapers. With such a background those that have interests in other building and loan associations should not be influenced with this news­ paper-banking interest fight against the Columbian. We have no interest in the Columbian. We do not attempt to justify any act o f its officers or whatever policy it has adopted in the past. We only wish to warn to public so that the Columbus situation will not be applied to other like institutions in Ohio. It can safely be said that the building and loan interests of the state and the hanking interests as well, are not in accord with the methods being used by the Columbus newspapers to dis­ credit all the building and loans in Ohio, for these newspapers are not discriminating or pointing out to their readers that there are other such institutions not even guilty of the charges the newspapers make against the Columbian. Nothing more disasterous could happen to a building and loan, or even a bank, that for someone to bring receivership ac­ tion unless the last resource had been exhausted, and then such action to come only after thorough examination by competam authority that no other course remained to protect the interests of home, farm owners, and depositors. Should sortie newspaper in a city where the chain bank operates adopt the same course we fear the Columbus papers now keeping up the fight againsi the Columbian would be the first to come to the defense of the chain bank. Supposing some depositor in the chain bank would bring a suit demanding to know whether the chain bank man­ agement was carrying an industrial stock like the American •Rolling Mill Co. at what it cost, say $70 or what it might be wortn the day the bank statement was issued, about $9. Othei stocks and bonds might mentioned. Such a charge could not be made against a building and loan so far as mortagages are con­ cerned tor they are on the books at what the loan calls for. We only mention the illustration to make our point clear. The receivership route for a building and loan would under our system of liquidation result in los3 by hundreds o f thousands of dollars to depositors. It would mean the selling at public sale each home and farm that might be under mortgage to the association, even though you had it nine-tenths paid for. It can readily be seen that the. public would rise up in indignation ana those having property on the auction block would follow the Iowa farmer plan of organizing a buyers strike. From the po­ litical angle any sheriff' or judge following such a course, un­ less approved by a large percent of building and loan patrons would be writing his political death warrant. Foreclosures are serious enough to property owners and come only as a last-re­ sort to meet legal requirements as a protection of those who dc have a financial interest in the instiution. Troubles the building and loans are facing in a financial way today are much the same the manufacturer, retail mer­ chant and others are' facing. Even the home owner that has his property paid for is having trouble meeting taxes if he is out of employment andno other income. Delinquent taxes in the course o f time means the owner will loose his home if he can­ not raise the money. Building and loans were never intended to be liquid institutions each day of the year. Because they were covering a period of unusual prosperity, is no reason that they always would be. There was a time when the home or farm could be sold probably once a month, it was then that the home or ffirm was “ liquid." But neither are today and through the centuries past property-has passed through just what it is fac­ ing today w,hen there are few buyers. Again we say,,do not be unduly alarmed over the Columbus . newspaper-bank-building and loan controversy for as far as we know Ohio has no other town or city where a campaign is on to teardown a building and loan to satisfy selfish desires. Brighter . days are ahead 6f us and safe and sane co-operation will bring us out of the depression that has largely tied the hands of those in charge o f financial institutions as well as individuals. REFUNDS ON ROAD ASSESSMENTS The proposed movement for refunds on road assessments is . going to interest a lot of property owners as well as those who are not owners of either homes or farm property, •When it comes to diverting say ten or twenty million dollars from the gasoline tax fund to reimburse those who have paid Toad assess ments, and to care for unpaid ,gqnd£ on the road improvements, there is bound to be objections fjroirirvikriouS sources. Tfre main objection as we see it .will come from other property Owners who are paying assessments on streets now known as state high­ way connections. If all this property was to benefit the largest list of objectors would be removed. The gasoline tax is collected from the general public for the automobile owners are so numerous now that they are con­ sidered the public at large. To use their gasoline tax money to pay refunds brings out a serious point of fairness. Taking the issue raised that only land owners paying road assessments should be refunded, why should a land owner that has not been assessed be compelled to pay in gas taxes for another land own­ er's assessment? Why should a citizen in any town or city be so taxed? We are not arguing the justness of the assessment plan but do not want to approve an unjust plan to reimburse some­ one else. In comparison with land and urban property owners the number of land owners that have paid or are still paying as­ sessments, is very small, The proposal fdan would not relieve a county road assessment in the state and there are hundreds of landowners paying county road assessments. The proposal under consideration istonly to refund to those on state roads. In many counties the state road assessments are paid out in full and the land owners that paid all or most of the tax and has sold Ins farm would not get the refund. To bring the issue direct why should not each and every property owner on Main street, now State Route 42 and 72 be reimbursed for the eight dollar a front foot assessment for the brick street? The same public that travels Route 4d East and West of town travels over this street, ninety-eight pei .■ent of the entire cost being assessed against the property frontage. Land assessment at tw<> or three dollars an acre looks small in com­ parison with an eight dollar a front foot assessment, yet no mention is made about refunding assessments from public tax­ es to town property owners. It must also be taken into consid- that most of the highway road assessments were made following a petition signad by lan^wn jr^;>eihg presented to the property authorities, knowing all the'time such assessments were the only way to pay for the road petitioned for. We are not so sure Ohio can finance this repayment propos­ ed but m ease it can we suggest that all property owners in all the towns on state routes be organized to demand equal treat- , ment. It will not be necessary to charge town property owners three per cent of the refund as is now being charged farmers by those who are making it a “ racket". Town people will be willing Jo give their service and there will be far more individ­ ual owners m this group than the organizers of the land re­ fund movement can muster. All we have to'say is that if road assessments on land are refunded, the same assessments on citv and town property on state routes must be refunded. Someone remarked the other day i ...... that it seemed foolish for Chicago ....— prepare for the coming Century oft| M . A M . and SPRINGFIELD I Progress, or World's Fair, as we used;I BLDG. & LOAN DEPOSITS \ to call such events. The reason given jf a c c e p te d a t fu l l va lu e w h en i was that people would not be able to If a p p lied on den ta l w o rk . I attend by the hundreds of thousands i | owing to the depression. A little ■Hi PLATES $10 and $15 ! view of the World'* Fair in Chicago back in 1893 is not out o f place. It was ,n that period that we had what wa*. Known in those days a* a "panic." In our march of progress we have found new name* fo r the same old kind ot diseases so we call the present panic a "depression." Regardless of the panic' several million people found money to attend the greatest exhibi­ tion ever staged up to that time. The fair was a success financially and give Chicago the start for one o f the great­ est cities in the country. In those days the only way people could get to.Chi- eago was by railroad and more Than one ¥5 round trip excursion was run from this section o f the state and the railroads made money. However there were no Pullman sleepers nor air con­ ditioned cars. Each passenger got his share o f cinders. The five dollar fare in ordinary coaches will attract . the people in great numbers again but such a thing is not likely. The rail­ roads will keep up the faty and the people will ride on rubber tires. We have one citizen in this country that certainly could be o f service, to Congress and Unde Sam and show the much interested: in building and loan way towards balancing the budget patrons yet does not favor protection without additional taxes. This man is for bank depositors. A good chance a former police reporter in Chicago; •for the Columbus editor to get his feet manager of prize fights; placed the wet in the position he has taken. first yellow taxicabs on the streets of America and buses on Fifth avenue in .While the Senate in Washington New York City. He is none other than wastes hours of debate over a tax re- j ohn D> Hertz. After dropping his vision a department grants a refund ron and leaving newspaper work he of more than five million dollars o* developed into a great business ex- one return and more than forty thous- ecutive. His success came easily for and dollars on another, to the same j,e knew how to manage and handle estate. Somebody must have blund- hundreds o f employees. One of the sred bad in making out the returns. great motion picture corporations was In as much as the estate that has been overloaded with expense and needed granted the above sum is headed by a belmc<A ,budget and a proposition prominent Republican member, o f , waB made Hertz, who knew little „ the Hoover cabinet, it looks like now. nothing about the picture business, In is the time to get what is wanted be- 48 we(jks Hertz had the picture corn- fore March first. And yet people won-(pany it3income; Ho had cut der why the results election day were expenae8 «39tOO0.OOO and the business against the Republicans. A member of the legislature has in­ troduced a bill of some form supposed to require all banks to guarantee de­ posits. Without going into the merits of the bill we wish to refer only to an editorial in the Columbus Dispatch which represents chain banking, to their editorial following the introduc­ tion of the bill, opposing such legisla­ tion. Yet the Dispatch is quick to in­ terest themselves in breaking down the'building and loans. The Dispatch would have its readers believe it was Extractions 50c, Gas admin-1 istered. | I D r. G . A . SM ITH , I I 10 1-2 W. High S t Main 909 i Springfield, Ohio | We have near Cedarville a beauti­ ful baby grand piano, which we are forced to take back. This piano is guaranteed same as new. Beautiful Hi-Lite Lacquer finish with bench. This is no cheap piano, in fact, it is one of the world’s . finest instru­ ments made and guaranteed by the world’s largest music house. Purchaser may pay the balance due either in cash or in small week­ ly or monthly payments. We would consider an upright piano as part payment. Get in touch at once with Credit Manager, care The Rudolph Wurlitzer Company, 38 S. Lime­ stone St., Springfield, Ohio. BIG SALE ------ALL WOOL BED , BLANKETS N O W O N Wonderful bargains in all wool bed Blankets, unequall­ ed for beauty, warmth, and wearing qualities. Never before haye our prices been so low, Sales Room at South end of Three Story Building on Dixie Highway TH E ORB. FELT Sc BLANKET CO . Pique, Ohio W ill FOR SALE— GOOD YELLOW EAR CORN became more profitAbie even durihg the depression.’ There is room for a While the House has passed the ‘ John D. H e r t sC o n g r e s s . What he beer bill and sent it to vthe Senate,1did for the picture corporation; he this bedy is tearing it to pieces and in could do for jfecleSara, something most respects adopting the plan advo- most Congressmen know nothing a- cated by the Republican platform. The bout. 41 - Senate Democrats must be setting a ‘ , trap or purposely letting the Repub- ’, o . A. Dobbins h is an. interesting licans have some of the credit for the letter from A.iS. Caughelt,. Warner, beer bill- Senator Fess is quoted as Alberta, Canada. He says wheat up saying he will support the bill if it is' there was 35cithis fall but was only in accordance with his party’s plat-120c at the elevator now. In reply to a form, How can President Hoover in question about the Canadian liquor the face of the FesS statement leave proposition Mr. Caughell says liquor his party to veto tlje beer bill? The is easy to get find people spend their Republican leaders are nervous over ^money for liquor and cannot buy shoes the result o f beer legislation feeling'for their children. He says there were that unless they get in on the legisla- mtay drunk on Xmss cheer in the tion the big city vote will for years Iform of boozet- Liquor is purchased lost to them. And we must not fo -r Iat government stores and .beer is also that Senator Fess must come again ir. sold in "parlor*” . Not all small towns two years. |have beer parlors. Warner has one Report of Condition of THE XENIA NATIONAL BANK of Xenia, in the State of Ohio, at the close of business on December 31, 1932. Charter No. 2932. Reserve District No. 4 RESOURCES Loans and Discounts _____ i ___- _______ ________ ______ ¥ 361',658.97 Overdrafts - ________- _______________________________ 48.17 United States Government Securities—Owned ________ 203,300.00 Other bonds, Stocks and Securities—Owned ___________ 194,550.00 Banking House and Lot _________________ 18,00(100 Furniture and Fixtures_____ - _____________ _____ 3,000100 Reserve with Federal Reserve Bank ____________ ______ 48,680.00 Cash and due from banks __________ _265,316.08 Outside checks and other cash items 1,712,86 Redemption fund with U. S. Treasurer 4,500.00 TOTAL ................................................................... $1,100,728.09 LIABILITIES Capital Stock Paid i n ____________________ ,___ _______¥ 100,000.00 Surplus .................................................................................. 100,000.00 Undivided Profits—Net ____________ 100,055.80 Reserve for Contingencies _______ 26,472.40 Circulating notes outstanding__________ ______________ 90,000XH) Due to banks, including certified and cashiers’ checks outstanding............................... .........„ ................. 1,302.74 Demand Deposits ................................ __............ .............. 682,625.65 Bills Payable — ________________ ________________ ____ NONE Rediscounts ____________ ____________________________NONE Other ..Liabilities______ ___________ 271.50 t ° T A L ...................................................................$1,100,728.09 STATE OF OHIO, COUNTY OF GREENE, SS: I, R. O. Wead, Cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief, ! ' ! ™ R. O. WEAD, Cashier. Subscribeed and sworn to before me this 9th day of January, 1933. Marcus Shoup, Notary Public. Correct—Attest H. E. Eavey, A. E. Beam, J. A. Finney, Directors. BOARD OF DIRECTORS H. E. Envoy, Chairman A. E. Baam, Vice Chairman W. D. Wright, R. O. Wead, Henry C. Flynn, Jos. A. Finney CALL DeWIne & Mam®! , Phone 153 Yellow" Springs, O . Extra VALUES G U M - D I P P E D C O R D S T h s Firestone patented G u m -D ip ­ ping process transforms the cotton cords in to a s tro n g , to u g h , s in e w y u n it. Liq u id rubbtr penetrates every cord a n d \ coats every fiber, guarding against in­ ternal friction a n d h e a t, greatly increas- ' in g the strength o f t h f cord b o d y , a n d giving longer tire lify . T W O E X T R A G U M - D I P P E D C O R D P L I E S U N D E R T H E T R E A D .This is a patented construction, an d th » . tw o extra G u m -D ip p e d cord plies a re so placed that y o u g e t 5 6 % Stronger bo n d between tread a n d cord b o d y , a n d tests show 2 6 % greater protection ' against punetures a n a blowouts. It sett a new standard for tire performance o n high speed cars. . T o u g h , live rubber specially compound­ e d for lo n g , slow wear. Scientifically designed non-skid gives greater trac­ tion a n d safe, quiet performance. one COURIERTYPE ' J J B L i EAtH ta B m B when . T BOUGHT •’ : ' “IN PAIRS ' - 3 0 x 3*5 Cl. TiresfoiisC . OLDFIgU) pfa >/■'■ V WH6W BOUGW . IN PAIRI 4 . 4 0 - 2 1 i- COMPARE CONSTRUCTION, QUALITY and PRICE eat O w n eli f- DeSota De4««__ Dnrat>t__ C r.F aJ** r*atia<L_ SlMi r roh W itty*-*. N m * ___ OUa’biU •flick M. G u m l* t O ld.’Mla DuIok___ Tto 4.40-21 4.50-20 4.50-21 4.75-19 4.75-20 5.00-19 5.00-20 5.00-21 5.25-18 5.25-21 fn* Cakrik*ad •4.79 5.35 5.45 4.93 •*43 *.§f 4.7* *.9* 7.55 • 15 Flmtwm OMfeM T»p* ClUlfilc* Pffl>.lr 19 .3 * U.SI M .S4 11.92 12.41 12.92 19.12 1S.S4 14.12 19.22 ece S tu’b ’kV Auburn—. Jordan _ Woo... S tu ’k ’k’r G ardner. Marmoa_ O akland. Perrleaa _ Chrysler. S tu’Jb’k ’r V iking—. S tn’b V r Franklin Hudson— Em 'M Io. L a S a lle . P ack ard . Picrae A— C adillac. Lincoln.- Packard _ Tlrt SIM Untfincm HwvyD»t» 5.50-18 5.50-19 6.00-18 6.00-19 6 . 00-20 6 . 00-21 6 . 00-22 6.50-19 6.50-20 7.00-20 Hr**!*** outm Cn*PriceE kh 22.99 •.4t X«.*5 12.25 X«.95 11.12 11.12 12.92 12.29 <4.6* FkMNM OMfM) Type CwnPrlee PtrP.1i 112.22 12.42 2 2 .2 2 *1.«4 •2.24 21.54 22.50 29.22 24.54 22.42 Truck and Bar Tiros 1 TtlSIn HeavyDuty Hr*!toeMumTmCtthPflc*Eack FifMtOft# ] Oldfiold Typ#CliftPfk* PcrPiir 30x5.__ 2X5.35 229 .74 32*6..„. 22 .12 5X.00 34x7__ 12 ,42 70 .60 36x8__ 51.65 X00.20 6.00-20 XX.25 22 .60 6.50-20 15.50 30 .00 7.50-20 26.45 5X.60 9.00-20 46.50 90.40 9.75-20 6X.65 X20.00 COURIERTYPE............... ant Ott Cish PiH tich BundMid Ord*r ti.*6 Prkft Pith 0u, GashPfk* ParPair .... 2$.XO ¥3.10 25.92 LW-ai_,. 3.55 3.55 6.92 4.T5*W_ _ 3.921 3.98 7.6S ' ttalMCL 2.29 2.89 5.75 •FIRESTONE do not manufac­ ture tirca under special brand names for snail order houses and others to distribute. Special Brand Tires are made without the matH.rn"l;*rnr '0 name. They are sold without his guarantee or rerinon<ii’.t!litv i'ov service. Every F'lreuleoie i e hc.'tre the FireslKUP far .>>r> nseehut*,** »* • • . *•• -«*T • < • . . n |tre$tone SENTINEL TYFE tut 0*CaHPfk. t 8P9C1*| IfArtiJMil} OrtolfTkd oaf CaifiPike I|2fl Ptlrafw.h ParPab 4.40-21.... •3*59 $3.59 96.92 4.50.21... . 3.95 3.93 7 .66 4.75-19.... 4.29 4.63 9>0O r,. 00 - 19 ..,,. 4.25 4.85 9.44 .... 5*92 5.98 11.24 OtA#**Xtot* Ptt>partion£t#2y irOtD RALPH WOLFORD rti::. Mr. and M serve their I with “ open noon and ev pleased to w their friends, date they ob Local Mr.-W. A. sick list for Mr. and bana, O., wer J. D. Scott fo Mr. and M‘ tertained the evening at th ^Vlrs. Lula friends at si Home last iiTi| . Mr. Carter former reside brief visit W iness trip to Mr. and Mr verton, O., w Mrs. b. E. M, Mrs. Mciiinni sisters. . . The Mizpall Mrs. Esta noon. The singing the mighty King the sci’ipture chapter of Is Sjteele led in answered by to have made by the secre A. E. Allen teacher. Th was; "Is the and are indiv There was qu Miss Rosa., ■ poem "Things meeting, adjoi with the hosti Mrs. Conley, ■ freshments. p i i i im i a 3 • PE Tli large i in the in the