OPPOSITION TO CHAINS VOICED BY BANK HEADS
OPPOSITION TO CHAINS VOICED BY BANK HEADS Wisconsin Bankers' Assn. Goes on Record Against Chain System at Recent Meeting PRESENT SYSTEM IS STRONG, SUCCESSFUL Lunensehloss Resolution Is Adopted by...
...1 "Can we believe that group banking s an altruistic, philanthropic movement for the common good, championed by disinterested public-spirited men working unselfishly for the cause of progress" asked Mr...
...One of these was delivered by Mr...
...The resolution was adopted by a la'ge vote, although several of the 300 bankers did not vote on the question...
...The Progres-I slves feel, however, that with "Phil" La Follette as their candidate they will j be able to unite all factions among the Progressives again and put their man across...
...the present Senator...
...He has much of the magnetism and Are of his father...
...Is tbe solution of the present problem...
...They believe that the younger La Follette is their best, bet and are doing all they can to persuade him to 'get into Uw race...
...We do not need any radical departures—any banking Soviets—to meet our Wiscon...
...Tribute to Bob By GOULD LINCOLN in The Washington Star Out In Wisconsin the Progressives are urging "Phil" La Follette, younger brother of Senator Robert M. La Follette, jr., to run for the gubernatorial nomination In the Republican primaries which come next August...
...Lunensehloss during hte advocacy of the resolution oi-iered...
...The resolution adopted is ag follows: "Knowing the dangers In group, , branch or chain banking and recognizing the value of unit banks in Wisconsin for over 80 years, we pledge our entire support to our unit system and instruct our offl- ' eets and rouncilmen to do everything within (heir power to acquaint the publlr with the farts and assist In legislation to prevent further, expansion of branch, chain Of group banks In Wisconsin, and ••courage the regional clearing house system which...
...Unit banking, properly rdmlnistercd...
...Goes on Record Against Chain System at Recent Meeting PRESENT SYSTEM IS STRONG, SUCCESSFUL Lunensehloss Resolution Is Adopted by Large-Vote With 300 Bank-ers Present [Special to The Progressive] MILWAUKEE, Wis.—Firm opposition to the chain banking system was^ expressed at a "better business" conference of the Wisconsin State Bankers' association here Tuesday when the bankers adopted a resolution introduced by L. L. Lunenschloos, Madison, condemning the system...
...He has held back partly because of his youth and partly because of the fact that the voters might feel that a United States senatorship was enough for one lamily at one time...
...Senator "Bob" La Follette, Jr., has given a good account of himself In the Senl ate and has made himself stronger and | stronger among the voters of the state...
...The decision of the supreme court might be interpreted, it was explained, to prohibit a state from taxing intangible property owned by nonresidents, and if that is true the state of Montana would be prohibited from taxing such property as stock-of the Anaconda Copper Mining Co...
...in situation," he declared...
...He has been urged for several years to get into the race for the gubernatorial nomination...
...STLDYls MADE" OF TAX DECISION HELENA, Mont.—The recent decision of the U. S. supreme court Involving the Minnesota Inheritance tax may result in a loss to Montana of $50,000 to $60,-000, according to an oral statement by J. H. Stewart, chairman of the state board of equalization...
...He is a lawyer and has held the office of prosecuting attorney for Dane County, the first political office which was held by his famous father...
...Kohler is likely to seek re-election, it is said...
...and the other was made by Edward A. Bacon, Milwaukee banker...
...He had previously explained that "\ arc, not inteiested in politics vid I have no axe to grind...
...Philip La Follette is ft real campaigner himself...
...But the Progressives Ri'e discounting these arguments now...
...Is efficient and flexible enough to meet the financial requirements of each community, better, we believe, than they could be met by any :.ioup cr chain banking system that has so far been developed...
...when owned by nonresidents...
...The resolution v/as adopted following two addresses which oflcicc...
...The La Follette name is a great power in politics in Wisconsin today...
...He campaigned for his fath-i er, the late Senator La Follette, and lor his brother "Bob...
...the arguments of both sides of the question...
...He is the first "stalwart" to , hold the office of governor in a num-I ber of years and his victory was due j in no little part to a split amoqg the I Progressives themselves...
...In our opln'on...
...If he gets into the gubernatorial race this year It will be a real contest...
...I If his brother becomes a candidate for the gubernatorial nomination he may be expected to throw himself into the campaign and stump the state from one end to the other...
...Philip La Follette is no stranger to I politics...
Vol. 1 • January 1930 • No. 8
