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Newspaper Archive of
Shelton Mason County Journal
Shelton, Washington
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