Evening Star Newspaper, September 19, 1926, Page 32

32 ; THE SUNDA® #rAR, WASHINGTON, D. C. SEPTEMBER 19, 1926-PART 1. BANKS' TEAMWORK s Yemrs Tota HELD VITAL NEED, o Correct Name Farm Loan Board Member ‘Sees Pitfalls—Outlines Elmer §. Landes of thia city. mem-| ber of the Federal Farm Loan Board stressed the importance of efficient officials and directors in every finan clal institution, in his address at the Joint Stock Land Banks Convention in Detroit. o much of what he said < not confined to the land banks that a pertion of his remarks is printed here, Speaking on “Seasoning of | Land Banks,” he said, in part “It is conceded that the success of | any financial institution depends ver largely upon the ability of the mana ing officials and its directorate. It also conceded that there are essentials that, if lacking, will cause ihe failure of an organization. even though the individual personnel 1 made up of U capable official The outstand these egsentia probably ommon everyday teamwork. This lacking of teamwork prevents the proper seasoning of one s more functions of the institution. and the result finally must be its hreaking down at its weakest point Here applies the old saying that the | chain is only as strong as is its weak- est link ‘A great responsibility rests upon those chargd with the duty of the <election of officers for these impor- tant institutions—officers who are capable individuals and competent teamworkers, seasoned loan men, or of becoming seasoned hetter with enough executive zenius to be able to apply the proper | seasoning to their colleagues. Men of | this caliber should have the proper | seasoning added to their salaries. to | cuch an amount as would at least make the salaries palatable. These <alaries should be fully commen <urate, and not more, with the re- sponsibilities assumed and the serv- iees rendered Outlines Duties of Board. ! “A director of a joint stock land | hank is named by the stockholders. it | is presumed. because of his experience | peculiar to the loaning business. or | hecause of his practical experience in the sclection of capable officials. or probably because of his ability in both These accomplishments. coupled with | honesty of purpose and a clean record | as to past performances, possessed by Those selected to secure hank officers. | assure the stockholder a successful | institution, and also assure him, as a stockholder. of having performed his duty in protecting the hank's interest ng such careful selections s short of this should give him | a clear conscience in the services he | je vendering. This being done. the stockholder, for the time being at | least. steps out of the limelight and | the director himself comes to the fore. accepts the honor and assumes the | attendant responsibilities | “Some of these responsibilities are | within his personal control. while athers are not fully within his power to g hut the reeponsibili nevertheless. remain fixed and tlonary, and he cannot present any alibi, hecause he stands pledged for the actions of the directorate. and must share its responsibilities “Incidentally. it should be borne in mind that. aithough. directors are chosen by the stockholders, the obliza tions to the stockholders. peciliar as it may seem, are secondary to their responsibilities to the bondholders The importance of the paying of dividends to the stockholders is, thert fare. secondary to that of the paving of interest on outstanding bonds and assuring requiremen ities therefor ¢ of Statements Vital ectors should he zeneral statem e o1 to the Far Roard tements in connection | vith the sale of either stock or bonds vital importance | \ loan system. | No my ploitation should be vermitted or ed, but at same time prope should Le emploved i lutely 4 vital, and 1 times by | of | k's afcials and field 1 soned in the art of im 1 excellent results are beinx The borrower is rapidly to the realization tha his friend and desires to than to destroy chological effect alone is h the time and effort .l.. appetite, weakness and power to resist disease. 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Ben Franklin drew electricity from the clouds to the key on his kite . but forest supervisors would to have some inventive genius discover how to get rid of it. ‘Lightning holdovers” caused sev. eral fires in the Coconino National Forest during the forest fire hazard season, as they did in other parts of {the West. destroying thousands of ncres of valuable timber and draw- Ing men from other pursuits to fight {the flames, Lightning generally hits these trees in out-of-the-way places, invisible from the 6kout's tower. The fire will smoulder along for a’ few days. wait- | i ing for a Stiff breeze to fan it to other trees, and before it is discovered, sev- | i | eral acres of zood timber will have burned Why Suffer With Itching Rashes ‘When Cuticura Soap and Oint- ment will quickly relieve and heal. Bathe gently but freely with the Soap and hot water to cleanse and purify. dry without rubbing and apply the Ointment to soothe and heal. 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