BANKERS MEET AND CLASH ON BRANCH ISSUE
BANKERS MEET AND CLASH ON BRANCH ISSUE National and State Bankers Divide on Important Question at A. B. C. Convention (Special to The Progressive) CLEVELAND, Ohio-^-The American Bankers...
...He defended independent banking and reiterated his stand taken at the convention last year that small or large individual banks, if competently managed, are a great benefit to the country and an efficient financial system for the needs of business...
...In its first general meeting held in the Auditorium here, President John G. Lonsdale of the association approved the idea of branch banking as a means of keeping abreast of modern developments in banking...
...The state bankers, however, in their divisional meeting, adopted a resolution expressing its faith and belief in the independent banking system...
...chairman of the economic policy committee of the association, also spoke In favor of the liberalizing of national banking laws so as to allow banks to establish branches...
...HazH-wood...
...the system but the management that needs attention...
...R. S. Hecht...
...The resolution states that "sound, independent banks of adequate size, located In markets which will support a bank, will continue to provide efficient banking facilities to the thousands of communities throughout the country...
...We may analyze group banking and weigh carefully its advantages and disadvantages and we shall find that it can justify Itself only as it provides better management...
...vice president of the First Natior »1 bank of Chicago, made the principle address before the state division on the branch banking question...
...and that it is the belief of the state division that "our present states and national banking systems should continue working in co-operation, thus assuring the endurance and permanency of Individual initiative and the free play of personalized enterprise which history has.proven so desirable," Craig B. Hazlewood...
...BANKERS MEET AND CLASH ON BRANCH ISSUE National and State Bankers Divide on Important Question at A. B. C. Convention (Special to The Progressive) CLEVELAND, Ohio-^-The American Bankers Association began the general sessions of its annual meeting here Wednesday with considerable difference of opinion existing among delegates on the question of branch banking...
...Early speeches at the divisional meetings held earlier In the week indicated that a contest would resolve itself out of the opinions of the larger national bankers that state and nation-wide branches should be allowed, and the views of state bankers and other who favor the preservation of the present unit system of banking...
...I challenge the statement that unit banking has fulled...
...It Is not...
...declared Mr...
Vol. 1 • October 1930 • No. 44
