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L. I U v.. i.-.j L.
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to-
Cy JCKM G. LONCDALE
President American Banker!
Association
Tra ALL remember the story of Icha
; bod Crane end the headless horse
'v&ian. There was the dark form by the
j . side of the road
j .. ' , thundering-' hoots
yr:J- on the Sleepy Hole;
r. .'t ,' low highway
(. and . Ichabod flee
)
ing ; in confused
: terror, before this
i
'
terrible ; monster
If Ichabod f had
only known 'that
his hobgoblin was
an InTentlve rival
disguised with
a pumpkin head,
he would - hare
bad a good laut,h
ohn C Lonsdale
, ' &id g one on with the business of ran-
' 5&u!sUag his competitor.
What Ichabod really needed was
modern flashlight. . Then he would
kava discovered the trickery at once.
. '" Xaay business men need the flashlight
t analyst to uncover the hobgoblins
In their business and then they might
ait back and Ian rrh at their rivals who
leslt&ie to Investigate and learn the
, truth. - ''w&l;JMti
,V-At this time,-when, business and
5 tanking are making strenuous efforts
Vlo have clear vision ahead, it Is espe
; tially important that the power of re
, search and analysis be employed to
. their fullest extent. When these twin
'' brothers of good management have
"been Dressed into service In all fields,
3 am confident we shall see a further
, lessening of periods of stress. How-
ever, I believe business In general has
' learned the valuable lesson that any
prosperity that is not leavened with a
f little adversity would not Deem, bast
- cally safe or sound.
TiESETiVE SYSTELi'S i.
r cr;;:i::3S aiiiyzeo
Bankers Find Increased Pay
; ,. merits f o Member Canks Would
', 1 Be Small Inducement"
Various proposals that member
tanks In the Federal Reserve System
should participate more largely in Its
set earnings through an Increase In
the dividend rate above the present
Hzed 6 per cent "would be a. very
email financial Inducement" to them,
It Is declared In a recent study of this
subject by the Economic Policy Com
mission of the American Bankers As-
y sedation. This Is shown, the commie
i eion says, by a theoretical forecast, on
. the basis of the past six years, of. ad
ditional earnings that would be oi
'trarsed to member banks during the
. next six years under two plans Intro-
: duced in bills before the United States
.- 'Senate. -.
"The Fletcher -bill ' provides " that
v Federal Reserve Bank earnings, after
-present 6 per cent dividends to mem
bers and completion of a 100 per cent
.surplus, should all be distributed as
-extra dividends to the stockholder
'banks," the report says. "If the earn
intra of each Federal Reserve bank
' "were distributed among7 its own mem
. tiers there would be no extra divi
dends in the Boston, New York, Phila
delphia, Cleveland, Chicago and San
.jranclsco, districts during the next
alx Tears, but the other "elr Federal
iCReserve Banks would pay annual ex-
. -tree at the following rates: Richmond,
4.03 per cent; Atlanta, 4.09 per cent;
' XL Louis, 3.50 per cent; Minneapolis,
rS.Bl per cent; Kansas City, 6.18 per
-cent; Dallas, 4.83 per cent.
i. "If the earnings were pooled and
paid out to all members in all districts
each member would receive an aver-
vage annual extra dividend of .73 per
.ent. Under this plan no franchise
tax as now would do pan by tno t ec-
era! Reserve Banks to the Federal
Covernment.
Another TUn Analyzed
"71 s Ca&a bill would rrovide that,
i&f"T r "ant 6 rnr c?nt dividends,
oudL.f l".-a rr "l"!:.,Iv-r eLouId bo T'd
i.r i j"5 fin extra iivi-
' i 1 Fcl-ral C M :.,.. iit as fi an-
a Ui, 1uO averce riidu..1 en'Tus
Ho mpmbpra would be as follows: Toa
"ton Elistrlct, 2.C1 per cent; New York,
..43 Tor cent; Philadelphia, S.C3 per
.-,'; C''ve! "d, 8.C9 per cent; Rich-
:,:'5r ro. nt; Atlanta, e.C7 per
. f; C-:.- 3 "3 r r cent; St. Lcufo,
:Ztl rr c.-t; T ' t-C.'s, 4.75 per
-r-.Lt: I . it j, 2-74 r r cent; Dal
T ", "1 tt cf at; f.a 1 rar.cl:co, 1.S7
af '
: i"
3 !
Tooled the
i an-
tf r Cr
i r
I Declares That C
Chanscs Creating Larss Car.k
Systems Will Call for. Broader
Social Viewpoints. - . .
Larger scale group or branch bank
ing will Inevitably bring a new era of
banking organization and operations
to the United States and bankers will
have to develop "new conceptions, new
administrative methods and new eco
nomic views," Rudolf S. Hecht, Chair
man of the Economic Policy Commis
sion of the American Bankers Associa
tion, recently told the members ot the
American Institute of Banking. , ,
The institute is the educational seo
tlon ot the association and he empha
sed tie point that the new era in
banking demanded "that we must step
up Our education so that banking shall
be forted tor new responsiMUties,
K-lhat the Future Calls For
m we must broaden our social concept
tlon of banking," Mr. Hecht said. "Not
only for the technical operations of the
hew banking must we fit ourselves, but
both as Individuals and an organised
profession we must charge ourselves
with serious consideration of the so
cial problems that are involved. . Air
ready we hear murmurlngs and fears
and doubts as to whether the changes
that are coming about In banking In
the extension of group and branch sys
tems do not constitute the looming of
a new financial menace, a monopolistic
threat not only to the individual unit
banker,, but to the financial liberty ot
society in general, I am stating these
things merely as facta that must be
taken Into consideration In our studies;
"Publlo opinion cannot be Ignored
by any business, least of all by bank
ing, which is admittedly semt-publle
in character and is, therefore, subject
to special supervision by the consti
tuted authorities. If banking develops
tendencies that give rise 'to public
tears, we must so conduct ourselves
as to reassure all doubts. . , ' ' '
"For this is true, that business suc
ceeds only by serving society that no
business can permanently prosper
which does not both Tender service to
the public and at the same time con
vince the public that it is raring
that service.: Banking, there. v. , luust
take cognizance of what the public is
saying of this new era in its develop
ment " i ' ' v ' , " ; -' ' ' v ,
- "It must, be part ot the technique
of ' modern banking administration;
whatever form our enlarged institu
tions take, to avoid the creation of
monopolies, or even the appearance of
such a " centralisation of financial
power as to be able to exercise an un
due influence over public or private
finance or other lines of business. The
public's right to the safeguards ot fair
competition must be observed.
Must Preserve Individual Initiative
' "It must also be an Item ot man
agement that individual initiative and
opportunity shall be maintained. It
America has outstripped other nations
In the distribution of the benefits of
its progress, It Is due to the fact that
there are no barriers of social casts
or business tradition against advance
ment for character, ability, and Initia
tive. American business has learned
that it serves itself best by encourag
ing by every practical means individ
ual ambition and initiative, and harts
itself most by repressing or neglecting
them. Competition for efficiency, both
within an organisation and between
organizations, will prevent any Inst'
tution from long enduring in which
maintenance of opportunity and recog
nition of initiative are not controlling
principles of management, As heads
of the greatest of our financial and In
dustrial 'Institutions stand, men who
started from the humblest of begin
nings. Throi?h all the grades of ex
ecutive authority and reward stand
men In positions in keeping, generally
speaking, with their Individual merits.
I, personally, see no reason for fearing
that the enlarged banking organiza
tions which the future may hold would
necessarily supply future bank em
ployees with any less opportunity for
achievement than unit banking.
"Again, a crjor cor.cilileratlon of ad-
Kin': tratlon la any multiple form ot
t, przan!.-' t:on must be its pub-
i li c-"y community it
to. '. i. It 1j. t coi....Jjra;on
nrj-t te acl ."y ivi vi-IVy to serve
the economic i -"-" "v cf that com-
mur.:ty. Ko e; tteta i.l be long tol
erated it Lose liter 1 me'nbers work, or
are e:: T5"tsd ca working, to draw
errio :,!o e',rprth from one place to
i V a f . ilerj rower of another.
TLe 1 1 ut.'t t':.k has always been
rart r 1 r. 1 cf tv.e communities
a It 1 .' 3 ml r a t- em can last
( ifti It a raajlr prln-
c , 3 c' ( - t . ;a to serve,
.1 t t i j c 9 Into
.J'?. ;
1 'W ,
v
tER3 Kd" dlnnr the
I l"ea unts of which will oat
tU If yon dd your mart fc
t carefully, and which v. .a
serve six persons. - r I
, Ifeatloaii Beef Both . Boil one
halt cup rice, drain and add one
" and one-halt teaspoons salt, one
naif teaspoon chlU powder, one
teaspoon poultry seasoning, one
- eighth, teaspoon pepper, one finely
; minced onion and one minced
green pepper. Spread evenly oyer
' one and one-halt pounds round
steak, cut very thin, and roll up
like a thick Jelly roll. - Tie and
skewer firmly in place, dust with
flour and brown well .on both
sides in some drippings In a skil
let Remove to a baking' dish,
' pour over it the contents of a No.
r 8 can tomatoes, and bake until
tender in a slow oven, 850'; for
nm Ana and ft liAlf to two hOUlS.
s Remove strings, and serve cut in
siloes with tne tomatoes. -
Keep Tour, Neck Lovely
' With Exercise 'And v
. ; Dotty Care
1 JTS'."?
H3 beauty o! your neck d-
panas largely . upon wu
things:
a tu shape, ana your
In texture. And of course
And of course your
4ck should -be well set, upon
, 0uf shoulders, to lend grace, to
your head.
',. Worsen often forget thai the
neck needs exercise the game as
the rest of the body. -Correct
airclses not only will Improve
e shape of your neck, but also
ill help your skin texture some-
the ir
our skin.
!oo a well-set neck on
m, but not over-developed
shoulders, the best exercise is one
roica moves uie : cuius iu uu,
'rv this: Stand erect and extend
your arms as far as possible to
each side, slowly raise them at
high as you can-reach, and then
lower them to your sides. Re-
tbsm to vour sld
isat slowly a few times. This is
slfslc stretching exercise, but
wia Invigorate tired shoulders,
"on can feel a gentle pull, too,
- at the bate Cf your neck.
" And ner u another g0o BTcS
., exercise: Clasp your hands be-
- -tmd your neck snd cull them for-
Jard gettly wVLe oo fofei your
'-1-tack. ilowfy repeat lev
- i: i tljes. ' , , -,
-n yoa cteansl your face,
?3 y i sfyt five your peek i
Sir-it'
- 4 s
VH1
Some Tire
-w "TEJIY few motorists think Ot
1 puncture or blowout or until
.what through Increasing
- filiation of blood under 5
fro deve
one or more wheels. I drive my car
I know something about tires and somethin;
wheels ot my car are lined en once every
lusted at th'a same time. Tire are
en expense and any expensa that can tho In
be delayed is a dividend. ? ." i than
I.jw irisny times have you weirfiod Ing
jiintorist crm!nj toward you with an "
t u fiL - t vl. '! tf f j c.ir eut of th: "
1 ? 1.ry f t i r t-il la too a r
i " l rr i it''- ' way Fi'
to c?--. r , i . r M the the
t ' A'' i ' ' T ra 1
j ? r- ' i , : to re- air
r i r. .: t i r. r , :.cu!r vrh
1 rfil- It
i . i ure re
.' n9 tie- th
r ; i E t !y
i : tv i r i t "' the wo
tlr
! r-1 I
t : I t - f tli--
A .'
'
Drain the -contents of an 8- '
AllHM .Mil nt MimA haute ' chill ' .-
thoroughly, and arrange In nests 'ij
of lettuce, slice inree naru-
lapping circle around the Sheets.
Sprinkle three tablespoons chop
ped sweet picxie over ine men
and varnish with six tablespoons ',
mayonnaise. ',!!'
A Nevn Dessert
Pineapple Caramel Taploea:- ,
Scald one and one-fourth cups
milk in a double boiler. Cara- ,
mellze three tablespoons BUgar, ?
and add to the milk.' Add tour
tablespoons sugar, four and one
ha f tablespoons- minute tapioca
and a few grains salt Cook un-
til tapioca is transparent Beat
one egg pour : hot mixture over .
slowly and return to double boiler,
stirring constantly, till thick and .
creamy. Add the contents of a
No. 2 can of crushed pinennnle;
and cool. Serve verv rov ' i.
i
ire loni
eat an
SJSIV" 1 WV; W
4am Mam
At least Vi
-daily, . ipf
fleahslng cream up
neck and face. Nex
no Oyejr .yoii
face. Next wrap son
cleansing tissues around your
hands, and gently wipe off the
cream, w,
hlch will carry with It
all the dirt an
1 the dirt and excess oil front
four skin. Follow this by paUln
on a good skin tomo, And then.
If your skin Is Inclined to be Mr,
wash your face ana neck with
a mild aoap and warm, water.
For keeping your .fleck on" ;
tours young, and coaxing the akin v
Into a natural fresh appeftrahce,
try the following treatment after j
your daily cleansing! . . 1
If your skin Is oily or normal,
use tissue cream; vyn your ipi
s dry, give it the nch Udricatiaj
looth a generous amount
e. .her one of these creams o:
.aer one ot tnese creams on
:-r neck, working It op front
i t chest to your chin. Qrfp
yi t neck with your hands, tittii
yc-r
K.r
I'l and smoothing
nothing gently ufwarij
throat column. When
t t your '
t.e u.wi has beett forked in, oil
oil
cams ana nr
.gf.'iritB
i oil, and ret
eftat th
x Qe
i smoothing. Jf jroo
r this B-enlle. th
,4 La eailiy a )va
yocr W li fen, to yotr
) you tdon e. J bate youf
to normal. -
PILOTS
Motoring
3
1
dirty flick, And, of course. Wf
jkla will not keep Its smooth ti t
tare Ions II It U flpoicd to eW
j&tI jplillcpburii
Thoughts
their
tires until they nave had a
exceu
Blve wear begins to show on
on a different basis, because
j about car manufacture. . The
month and my brakes are ad-
es takes hold a little quicker
.nt rest, it, meant greater slid- .
t ,o?e Trhecii, and therefore
is o tire wear. It also n-nni
? c -r is more likaly to i ra
f.l or In an emer
e yu lose tract '.-n, t -.S
i mntu-v.
i ! . tt may f iiwe va'tj
: the- j your tirs f""fl
, ....i fv . l 'hit ',.
' '. t I. ! 4 ( S
rift eut i . r ,j
' - ! t'-'u
1 I ' ' t,
. r i . . r
r
I
, u
kGoldRbbonVK
7 ucrFEE eu::ccsY
Fao:.i rjiLLiapGE
' Mr, and Mrs.' Fred Clark ' and
children, of Newport, Tenn., and
Mrs, EHWbitson, of Tennelina, all
8 pent Thursday and .Frdiday ;. with
Mr. and Mrs, 1. B. Anders..
Those ' who ' took dinner -. Sunday
with Mr. and Mrs, K. S. Davis were
Mr; and ftHrs. Sawyers and two chil
dren, "Mr. and Mrs. G. Sawyer, all of
Asheville, Mr. and Mrs. ' Roy Saw
yers, and little daughter," of Hot
Springs, and Mr. and " Mrs. James
Crisp Salads to Serve.
When Days Gro w Warm
Bv JOSEPHINE B. GIBBON
: Director, Home Economic Depf,
, . a. . Beiiui company.
A CRISP vegetable salad or a
j XI. dainty ' concoction or trait
will make even the simplest meal
- attractive. And on these glorious
f spring days, when we . wish to
get away entirety: irom uwubui
. . nintaroon In thn foods we
serve-4alads are more than ever
. welcome.
MM tha nnmeronfl fresh
vegetables available during the
: spring and summer monins. ; in
stead of continually serving hot
dishes for dinner, they frequently
- substitute a : thoroughly chilled
i vegetable salad, prepared with a
snappy weiHeasonea .sreacu
Dressing, or with Mayonnaise.
Many a woman, too, finds that a
dainty fruit salad often will take
the 'place of a dessert, and thus
" save her long hours in a hot
: kitchen making puddings, pies or
cakes.
' FtjUowtng are " recipes for a
number ot vegetable salads' which
rare suitable for serving either as
the main dica tor luncheon or
supper, or in place of cooked
vegetables for dinner:
JeZled Vegetabb Salad
tablespoons gelatin, M cup
cold water, VI up boiUng water,
I tablespoons vinegar, S table
spoons lemon Juice, 11 : cup
S'.'-r, 1 teaspoon salt, cup
dVi c'ry, 1 c" shredded eaV
bage, 1 cup cooa-cd peas, and a
tew drops of onion Juice. Soak
gelatin. In the cold water five
minutes and dissolve in the bolV
' tag Water. Add vinegar, lemon
- Juice, sugar, salt, onion Juice and
vegetables and mix thoroughly,
furn into a Hog mold which has
been dipped in cold water, and
I- .-
rnC2
i w.1 r"1 V"1 r"i r . i
X f A. . V. .
ill Vuv4kJ ii.iva .-WW..-.
:,-Ti
Th
itUe .
I School
Teadaway and four children.
:-. Miss -Bessie Helton retiirsed home
Saturday night . from Ashevillev
wher she has been visiting her broth-
W. A. SAMS
Physician and Surgeon
Ot&em Front Room Over
- Citizen Bank
chill. Remove ! from ' mold to
salad plate. Fill center with crisp
lettuce, and serve with Mayon.
naise Salad Dressing.
- Lettuce Roll SaladirSSi
toft cream cheese. Add H eup eoM
cooked barn, finely ground, and S table
spoon India : Relish. . Spread thlB
layer of this mixture on. crisp lettnot
leave. Roll as yoa do Jelly roll and put
In a eool place to chill. Cut Into In en
slices and plae several sUoe on a exisp
lettuse leal Serve with French Dresslns,
er with Mayonnaise Salad Dresstos.
Tjftnato Sandwich Salad :
DlpTi small ''! red ' tomatoes Into
scalding water tor a moment so
the skin will come off easily-,
then chill and cut In half cross
wise through the center, pit o:
half place a generous layer
Sandwich Belish or , Cream
Cheese mixed with Stuffed Spany
Inh Olives. Cover with the other'
half of the tomato. In the top ot
the tomato- make a little incision
with a sharp knife and Insert m
sprig ot crisp parsley, - A '
Chicken and VegetabU Salad
I cans cold diced chicken. M ' etra
cooked carrots, dioed, H cop nested
peas, H cup oooked strirte; beans, cut Id
sleeea. la cud cooked beeto. dleed. 1 tea
spoon salt, 1 teaspoon p&rjrika, t tabttH
spoon chopped parsley, ktiz tne ehiesesj
and vegetable and add salt, paprika and)
parsley, frill ltcll.-ith. French Dressing
and Ie tnd in. Ice box Until thorotiKn.y
eoilled. Arrange In sesia ot Ipuaea
teams and top vith Mayonnais fesuad
tiresslns. Oarntoh sriin beet cut tn
fancy shapes and aparaso tips.
Slacedoine Salad l - small
cooked cauliflower, 1 cap cooked
peas, 1 cup cooked carrots, cut tn
cubes, 1 chopped green pepper.
Separate cauiiaower - in
nieces.- Marinate each ?is-4
separately In French Dressing
and let stand In ice box nnU
thoroughly chilled. Arrange vege
tables on crisp lettuce leaves in
separate nests, and sprinkle with
chopped green pepper. Serve with
French Dressing. -.
AZIIZYILLZ'S LTADIX3 STCr.i:
4313 IIAYV.'OCD T.
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