February 6, 1975 Shelton Mason County Journal | ![]() |
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February 6, 1975 |
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Inln
ncln
ovle
Sunday at 7:00 p.m.
CAPI _'!"_ A_; -
F I T
RIB EYE STEAK
PAN FRIED POTATOES
GARLIC FRENCH BREAD
T_HURSDAY NIGHT
TO PP]8 l:l
ROOI
PING PONG HAPPY HOUR
, Everyday 5 p.m.- 6 p.m.
I AII day Sunday noon til midni~zht
E ENTEO
CoMMoNm/ A oc.
FEATUI E
LENGTH
MOTION PiCTUI;2E5 FOI;2
WHEN-BEGINNIN(1 PtflRCH 177,J"
WI ERE- NEW < I.4EI..I"ON 14I H
• tTI31P,. U 14
Morch 7
Butch Cassldy and
the Sundance Kid
March 19
A M.n For All Seasons
5UBSC_..121 BE NOW
• The Heart Is A Lonely Hunter
This Space a community service of your credit unions.
MASON COUNTY
Credit Union
4th & Cedar 4261601 Shehon, Washington 98584
Hoodsport
e
in
annln
By DOLORES DRAKE
Fanrilies and friends of Boy
Scouts are welcome to attend Boy
Scout Troop I l's Court of Honor
which will be held at the
community hall in Hoodsport
February I0. There will be a
potluck dinner starting at 7 p.m.
Each person should take his own
table service.
Hoodsport Boy Scout Troop
11 was represented by two patrols
at the 1975 winter camporee. The
troop's Mountaineers Patrol was
the winner of the first place
trophy. These Boy Scouts, led by
patrol leader Glen Taylor, scored
170 points out of a possible 175
point total. The Grizzly Bear's
Patrol led by Troy GoDs received
a first place blue ribbon for a
score of 165 points.
The winter camporee was held
over the January 25-26 weekend
at the old Camp 1II site up the
South Fork of the Skokomish
River. The five Boy Scout troops
which participated set up camp in
freezing temperatures with more
than a foot of snow covering the
ground. The 57 Boy Scouts were
kept entertained with extra
activities including competing in
an obstacle course, stalking
patrols, following a trail sign
course and stumbling through a
night compass course.
No doubt, keeping warm and
preparing meals must have been
quite an activity in itself. The
amP loan commen
ma
More than four million
veterans, whose GI home loans
have been paid in full, are
potentially eligible for new loans
guaranteed by the Veterans
Administration under legislation
approved by the President.
New loans are possible also
for some four and a half million
who now have loans outstanding
when their current GI loan is paid
off and the home purchased with
it has been disposed of.
The broadened eligibility rules
apply to all veterans who have
served since the beginning of
World War II.
lrvin D. Nail, director of the
Seattle VA regional office, said
the recent legislation follows a
trend of relaxing eligibility for the
An increase from $12,500 to
$17,500 in the maximum portion
of a GI loan which VA can
guarantee. There is no limit on
the amount of the loan to which
the VA guarantee applies.
A provision for loans to
purchase lots on which to place
mobile home units already owned
by veterans.
An increase in the maximum
permissible loan amount for a
single width mobile home unit to
$12,500 and double wide to
$20,000.
Removal of the July I, 1975
delimiting date for guaranteeing
loans on mobile home and mobile
home lots.
Liberalizing rules for
guaranteeing loans on used mobile
VA guaranteed loans set by homes.
Congress over the past decade. Streamlining processing of
The changes have been made loan approvals through
possible by the continued good VA-approved lenders.
credit record set byveteran Broadened possibilities on
borrowers, he noted, guaranteeing loans on one-family
Other provisions of the condominiums by removing link
December 31 law designed to to HUD insurance.
make GI loans more attractive to The maximum grant to
both lenders and borrowers are: certain disabled veterans in need
of special housing was also
increased from $17,500 to
$25,000 by the December 31 law.
The new law also closed out
VA's farm and business loan
program, it was pointed out.
YOU
hold
the.key.
to their
future!
Unless
March of Dimes
boys reported that the mercury
had dipped down to a chilly 18
degrees when they awoke Sunday
morning and everything had a
fresh covering of snow.
Hood Canal Cub Scouts will
hold their annual Blue and Gold
Dinner at the Hood Canal School
February 26. Dinner will start at
6:30 p.m. and will be a planned
potluck. Den leaders will be
contacting parents soon to make
arrangements.
Mr. and Mrs. Ellwood R.
Erickson enjoyed the last
accompanied them down and
were overnight guests of llene
Ager. Tbe couples gathered
oysters on the evening low tides.
The flu bug has kept many
local residents indoors during this
extended snowy season. Most flu
victims seemed to be wiped out
for at least a week, but have not
required hospitalization.
James Parker is in the
Olympia hospital and welcomes
visitors. Torchy Hays is also in St.
Pete r Hospital.
Cards or even a phone call
weekend in January at their beach ' would be most appreciated by
home in Hoodsport. Their Seattle Lois Pierce, who is hospitalized at
neighbors, Mr. and Mrs. Ray Pyle, Mason General.
. Property
• Casualty
• Commercial
* Auto
* Mortgage
*Life
Dick /angle • Homeowners
Angle Building
4th & Railroad
Ph. 426-8272
meeting
The world forest products
industry will be looking to New
Delhi, India, and next month's>
international conference for some
answers to ease the global
recession, according to Tom
Maloney, head of the Washington
State University Wood
Technology Laboratory and an
organizer of the meeting.
"The slump that has hit this
country's forest industries is
typical of what is happening
worldwide," said Maloney,
"except in the developing nations.
There it's worse."
Maloney spent four months in
Rome last year helping officials of
the Food and Agriculture
Organization of the United
Nations plan the "World
Consultation on Wood-Based
Panels" which began today in
India's capital city. He will also
take part in the management of
the program.
Maloney said the meeting is
the first such consultation held
since 1963 and is designed to help
developing nations broaden their
economic base and bring new
technologies to their forest
industries.
"The discussions will cover
such questions as the long-range
natural resource picture,
marketing, manufacturing
techniques, investment
opportunities, production and
trade," he explained.
"The availability of natural
resources is an international issue
and the concept of utilizing all of
our wood to the fullest extent
possible is one we must all
respect," he said.
"In the world wood situation
there is no totally independent
region. The United States imports
large amounts of wood,
particularly for plywood, and its
economic recession has caused
major shutdowns in many western
Pacific wood industries," Maloney
said.
Maloney said the impact of
the energy crisis will also receive
attention since it has resulted in
short supplie of natural gas and
petroleum-based adhesives for
bonding plywood and
particleboard. "Many plants are
now using residue for boiler fuel
when this material is the raw
material for particleboard and
fiberboard," he said.
PRINCIPAL SUBSIDIARY/SEATTLE-FIRST NATIONAL BANK
Consolidated Statement of Condition
Assets
Cash and Due from Banks .............. $ 646,096,063
Time Deposits with Other Banks ............ 52,507,045
TOTAL CASH AND DUE FROM BANKS .... $ 698,603,108
U.S. Treasury Securities ............... 114,250,788
Securities of U.S. Government Agencies and Corporations . 33,986,595
State and Municipal Securities ............. 340,673,804
Other Securities .................. 17,072,351
Trading Account Securities .............. 27,162,986
TOTAL SECURITIES ............ $ 5331146,524
Commercial Loans ................. -i 1570,71 5,653
Real Estate Loans .................. 541,410,041
Installment and Other Loans .............. 452,505,710
TOTAL LOANS .............. $2,564,631,404
Funds Sold .................... 543,991,775
Premises and Equipment ............... 83,904,711
Customers" Acceptance Liability ............ 81,712,542
Lease Financing .................. 46,721,043
Other Assets .................... 72,178,449
TOTAL ASSETS .............. $4:(524:8_8=91~556
December 31
1974 1973
9 553,807,694
62,007,862
9 615,815,556
112,666,839
36,533,583
359,080,146
15,487,543
33,614,007
$ 5571382,118
11221,436,427
434,135,759
429,211,629
S2,084,783,815
524,679,394
77,388,851
32,997,852
20,472,779
55,717,832
$3,9691238,197
Liabilities
Demand Deposits .................. 91,189,380,804
Savings Deposits .................. 646,387,497
Time Deposits ................... 1,251,369,311
Deposits in Foreign Offices .............. 343,324,260
TOTAL DEPOSITS ............. S-3,4301461,872
Funds Borrowed .................. 732,951,052
Accrued Interest and Taxes .............. 44,685,956
Unearned Income .................. 53,483,069
Acceptances Outstanding ............... 81,71 2,542
Other Liabilities .................. 34,525,206
TOTAL LIABILITIES ............ S4,377,819,697
Reserve for Possible Loan Losses ...... s 46,868,863
9 45,000,000
75,000,000
76,732,794
3,468,202
9 2001200,996
94,624,889,556
Capital
Capital Stock, $5 par value per share :
12,000,000 shares authorized ;
9,000,000 shares outstanding ...........
Surplus .....................
Undivided Profits ..................
Reserve for Contingencies ..............
TOTAL CAPITAL ..............
TOTAL LIABILITIES, RESERVE AND CAPITAL .
91,095,058,383
625,131,494
847,409,384
352,119,370
S2,919,718,63i-
680,853,604
42,803,428
40,971,043
32,997,852
20,237,268
$3,737,58i 1826
S 36,170,609
S 45,000,000
75,000,000
72,017,560
3,468,202
S 195,485,762
93,969,238,197
DIRECTORS
ROBERT M. ARNOLD
Senior VicePresident
ROBERT S. BEAUPRE
Chairman,
Exccu live Cam m ittee
C. M. BERRY
President
PHILIP L. CORNEIL
(?h(Hrman, Executive
( ;o m m ~ t t ce- ltet ired
HENRY BRODERICK
Chairman, WILLIAM M. JENKINS
Henry Broderick Inc. Chairnlan
JOHN W. MURPHY
I'resident, Central
l're-M ix Concrete Company
JOSEPH R. CURTIS CHARLES M. PIGOTT
Vi('(" Chairman I'rcsident,
JOHN M. DAVIS t'AC(',.II¢~ I.e.
Partner,
Davis, Wright, Todd, Riese & Jones W.G. REED
lllana,l~nq l'a,'t.~r,
KENNETH R. FISHER Si,.;,s.. J?,.~d ,C. (',,.
('hairman, Fisher Mills Inc.
EDWARD E. CARLSON
Chairman, Undcd Air Lines, ln(.. Chairman, Lang & ('o.
RICHARD E. LANG
NORTON CLAPP
• Chairman,
Weyerhaeuser Company
JOHN McGREGOR
I'rcsidcnt, Mc(;regor Land and
Livestock Company
VOLNEY RICHMOND, JR.
Chatrtnatl,
Northern Comm('rcial Compatty
C. REID ROGERS
Ch.~rm(.~ o/th,' Hoord
and l'rt'mdt'~lt,
Ncw Fngland Fish Company
ROBERT A, SCHMIDT
('hairma n,
Olyml)ia #¢rea'il|g Cotnp(lriy
JAMES H. WIBORG
I~rt,s~cnt,
{/n tt'tl r ( "or/)orat 10/1
T. A. WILSON
(Yholrulan, "/'tie Bo,'ltlg Canl/~(tn.~
WILLIAM P. WOODS
('hoirman, Washington
Natural Gas Company
HOWARD S, WRIGHT
Pn'sidcnt.
Howard S. ~t'riRht ('onstruction Co
LEIGH YOUENES
]'.'.t,'cuttt t' VIc't' l'rc.~ld,'nt
1001 FOURTH AVENUE "SEATTLE, WA 98124
DEPOSITS--SHELTON BRANCH . . . 921,962,758.77
Thursday, February 6, 1975 - Shelton-Mason County Journal - Page 21