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;; Reporters—
Notebook
District No. 6 of the Alaska
Nurses Association will hold a
meeting cvf officers and board of
directors Monday evening, Janu
ary 16 at 8 p.m. in the Public
Health office. This is an important
meeting, it was announced, and
officers are urged to attend.
The monthly meeting of the
Mariners’ club of the United
Protestant Church will be held
January 18 at the Krause’ home
at 8 p.m. The discussion will be
on Happy Marriage, led by Mary
lou Rideout. Devotions will be led
by Bob Rowland.
Through the kindness of Geor
ge Small, the ice skating rink
located near the hospital was
cleared of snow this week. Small
worked several hours clearing
snow from the ice so the young
sters (and not so young) may en
joy themselves on the silver
blades.
Stewart Durrant, Co-Op gen
eral manager, returned home
Wednesday afternoon following
a Stateside trip. He said he ran
into “record” weather nearly
every place he stopped. Rainfall
records were brdken in the north
west the first 10 days in January
and in ytah, where he spent the
holidays with his family, record
warm weather was in effect. He
returned to find that Paknerites
■have been experiencing a bit of
record in wind storms.
The regular meeting of the
Common Council, City of Pal
mer, was not held Tuesday night
because of a lack of a quorum.
The next regular meeting will be
held January 24 in the office of
the City Clerk at City Hall.
Among Palmerites away for
the holidays were Mr. and Mrs.
William T. Zahradnicek who
visited with their son. Bill and
has family, at Cordova. While in
Cordova the Zahradniceks wit
nessed the bad storms that hit
the area during the holidays, and
were unable to return home as
early as originally planned, be
cause of flying conditions.
mm
ONLY VETERANS IN FARM "
TRAINING UNDER THE KOREA Gl
BILL ARE ENTITLED TO AUTOMAT A
INCREASES IN THEIR VA ALLOWAf r
CHECKS.THE BOOST DOES NOT
APPLY TO ON-THE-JOB TRAININ3
OR TO SCHOOL TRAINING UNDLR
THE LAW. ,-" '
informatiau rontayt your lifiml
Vi.Tfc.RANS ADMINISTRATION ykt.
VA LOOKS FOR HIGH LEVEL
IN GI LOANS FOR THIS YEAR
Despite a tightening of GI mor
tgage money during the latter
part of 1955, Veterans Adminis
tration’s analysis of savings and
mortgage repayment trends in
dicate that sufficient funds pro
bably will be available during
1956 to finance a high level of
residential construction, includ
ing homes financed with GI
loans.
VA estimates that about 650,000
veterans wijl get GI home loans
during 1956. This is approximate
ly the same number as the rec
ord-breaking year of 1955.
In a year-end review of its
loan guaranty operations for 1955
VA reported that approximately
650,000 World War II and Kor
ean Conflict period veterans re
ceived GI home loans totalling
over $7 billion.
This, VA said, was 58 percent
over the 1954 volume and 20 per
cent over the previous record
/ear of 1947.
GI loans are made by private
lenders with a portion of the
leans guaranteed or insured by
VA. On home loans, VA may
guarantee 60 percent of the loan
with a maximum guarantee of
$7,500.
By the end of 1955, eleven and
a half years after the GI loan
program was established VA had
underwritten 4,260,000 GI home
loans with an original principal
amount of about $33 billion.
About $18 billion of that amount
was guaranteed by VA.
During 1955, VA was asked to
appraise about 1,015,000 existing
and proposed homes to be offer
ed for sale to veterans. Of these
620.000 were proposed home and
395.000 were existing homes
VA also received about 675,000
GI home ioan applications dur
ing 1955, an increase of nearly 28
percent over 1954.
Home loan applications usual
ly are submitted to VA by lend
ers from three to eight months
after appraisal requests.
Question of the Week:
Q. A couple of years ago I
bought a house with a GI loan.
The County has notified me that
it is condemning my property be
cause it wants to build a high
way across my land. Will I be
able to have my GI loan rights
restored so that I can buy an
other home somewhere else?
A. Under the law, a veteran's
GI loan rights may be restored if
his property has ben taken by a
local Government agency for
public use. However, VA must be
relieved from liability on the old
guaranty.
HOW S YOUR MILEAGE?
; Are you getting the most in mileage from your j:
car? Quality gasoline and oils will give you
better and smoother performance from your ;
car plus more miles per gallon.
Norm's Super Service
HOURS — 7 A.M.— 10 P.M.
AT HARTLEY MOTORS |
Mission Union
To M2£t Jan. 16
The Womens’ Mission Union of
the First Baptist Church will
hold a meeting Monday after
noon. January 16, at 1:30 p.m. at
| the church.
The meeting is planned to be
the beginning of Focus Week for j
; study of the Mosleum tribes. The
| Aeek will close Friday evening
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with the installation of officers.
John DeFare of Anchorage will
be the speaker. The public is in
vited to attend the Friday meet
ing.
Officers to be installed are:
Juanita Watts, president. May
Thompson, first vice president,
Elva Eppler, second vice presi
dent, and program director, Ruth
Hansen, sec re tary-treasurer, and
Ida Wilkinson, community mis
sions.
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tei
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OFFICIAL PUBLICATION
\
REPORT OF CONDITION
OF
Matanuska Valley Bank
P. O. Box No. 1796, Palmer, Alaska at the close of business on December 31, 1955
ASSETS
Cash, balances with other banks, including reser%’e balances, and cash
I items in process of collection _ ... $ 274,186.60
United States Government obligations, direct and guaranteed 712,598.00
Obligations of States, Territories and political subdivisions _ . . . 92.198.00
Other bonds, notes, and debentures .. _ 50,000.00
Loans and discounts, (including $990.06 overdrafts) 953,728.47
Bank premises owned $10,323.40, furniture and fixtures $17,992 83 28,316.23
Real estate owmed other than bank premises ..... 1,436.87
Other assets ...... . . 4,000.00
TOTAL ASSETS . ..... $2,116,464.17
LIABILITIES
Demand deposits of individuals, partnerships, and corporations 1,064,807.68
Time deposits of individuals, partnerships, and corporations 417,098.99
Deposits of United States Government (including postal savings) 87,059.23
Deposits of States, Territories and political subdivisions _ 298,271.96
Other deposits (certified and officers’ checks, etc.) 6.438.41
TOTAL DEPOSITS 1,873,076.27
Other liabilities 56,861.36
TOTAL LIABILITIES (not including subordinated obligations shown
below1 __ 1.930,537.63
CAPITAL ACCOUNTS
Capital Stock (^To. of shares 750) (Total par value $75,000.00) 75,000.00
Surplus 75,000.00
Undivided profits 35 926 54
TOTAL CAPITAL ACCOUNTS 185,926.54
TOTAL LIABILITIES AND CAPITAL ACCOUNTS $2,116,464.17
I MEMORANDA
Assets pledged or assigned to secure liabilities and for other purposes
(including notes and bills rediscounted and securities sold with
agreement to repurchase) . 235,000.00
Loans as shown above are after deduction of reserves of 47,185.27
Federal Housing Administration Title I repair and modernisation in
stallment loans, to the extent covered by insurance reserves 3,519.88
1, Kyle I. Turner, Ass’t Cashier of the above named bank, do solemnly
swear that the above statement is true and that this report fully and correctly
represents the true state of the several matters therein contained and set forth,
to the best of my knowledge and belief.
CORRECT- ATTEST:
KYLE I. TURNER, Ass’t. Cashier
ROBERT A. BAKER W
R. M. JONES , Directors
K. M. LESH, )' :
UNITED STATES OF AMERICA, TERRITORY OF ALASKA) ss.
Sworn to and subscribed before me this 12th day of January, 1956
and I hereby certify that I am not an officer or director of this bank.
VIOLET L, EHRHART
Notary Public
My commission expires 11-4-58
1
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I free! free! free!
Drawing Thursday
Evening 7 p.m.
Two Items To Be Awarded
I - DESERT FLOWER DISH SET
I - BAR-S HAM
MUST BE PRESENT TO WIN
WINNER OF LAST WEEK’S CALENDAR
DRAWING IN ANCHORAGE WAS MRS.
R. W. BRADLEY OF PALMER
Do not have to be present to win
THURSDAY - FRIDAY - SATURDAY - SUNDAY
SMOOTH CREAMY
Snowdrift Shortening 3 u. m
f AUNT JEMIMA
I Pancake Flour
II FLOUR
-- ■ ■ ■ ■ - ■■ ■ I
u. s. CHOICE
Short
Rite_
RATH — 8 oz. pkg.
BRAUNSCHWIEGER
Rolls
Each