Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-28
BANKS AND BUSINESS
IN KENSINGTON SHOW
CALAMITY HOWL VAIN
Conditions in Textile District
Prove Penrose Talk of De-
preston Unwarranted and
an Evil.

section devoted to the textile industry
| In this country, discount tales OF de
| preston" in the textile trade told by
Senator Penrose and his Organization
lieutenants. The banks show that con-
| dition5 now are far better than in 1910
| Deposits at one national bank, located
| In the heart of the textile industry OF
kensington. are virtually double now
what they were In 1907 and 1908.
| The cashier of this bank, which han
dies not only much of the money OF
workers, but also numerous large busi-
ness accounts, believes that lack of in
itiative Is responsible for whatever de-
preston may exist at present. He said:
THE trouble these days Is that the
business men lack initiative. We are
willing to loan money. There doesn't
seem TO be any demand for loans,
know of no mills being closed There iz
no reason at all why this city shouldn't
be the greatest In the country. I know
of business men now who have contracts
to sell goods to South American firms
We are having fewer Withdrawals now
than during the panic of 1907 and 1908.
The deposits are larger also"
BANKS SEE NO DEPRESSION.
John G. Sonneborn. cashier Of the Ninth
National Bank, at Front and Norris
streets. made the following significant
statement:
There is no serious depression in busl-
ness. What depression exists can say
is not of an alarming nature. I'll say
that even IL I am a Republican"
Deposit figures for this bank also show
an Increase over previous years.
John 8. Bowker, vice president OF the
Industrial Trust, Title and Savings Com
pany, Front and Norris streets, Is an
other of the many Kensington bankers
and business men who believe political
calamity howlers" are responsible for
the present conditions.
He declared that political spellbInd-
ers' constantly talking of depression un-
douDtedly influence conditions.
CALAMITY HOwLs AN EVIL.
W. L. Turner. vice president OF the
Quaker Lace Company. which owns the
largest mill in Kensngton and controls
many others. also believes that calamity
howling politicians are in great part re-
sponsible for whatever depression exists.
The Quaker Lace Company is owned by
Joseph Bromley.
philadelphia has suffered no more
than many New England cities" said
Mr. Turner. "Of course. there is a little
dulness, but why should there be anv
fuss over 1t? A Philadelphia paper
printed a story a few days ago that the
mills were closed. II was a brief story.
and ] believe 1t was based on a political
speech.
THE result was that a paper in New
n. Y, printed a wild story
that the textile industry In Philadelphia
was crippled. That sort of publicitv
as they were in the panic year Collec- |
items are not bad. They are a little
slow, but that is TO he expected, we
haven't dropped any of our force. We |
nave about 1000 workers on short time.
Business will become normal There |
isn't general depression in business I'm
kensington and what depression exists |
Is not of an alarming nature. A good |
editorial In the shape OF a warning to |
would help a great deal" |
Mr.. Turner has been In the textile busi- |
ness 20 years He worked his way to his |
present position from that OF an office |
boy.
A Kensington pawnbroker. whose in
lerest charges are low and who there /
fore gets the Endorsement OF merchants.
declares that the workers are not pleda-
Ing as much Jewelry as they did In
previous years.
MEN AGAINST PENRosH
Some of the men who now critIciss
Penrose for talking depression in Ken
sington hung up pictures of the Senator
in their mills few weeks ago with the
request that employees vote for him. In
among the workers led to the
discovery that the labor men are against
PenTose. Some of the Americanized citi-
sens who know nothing of political con-
ditions in the State say they will vote
for Penrose because they have been told
1stter labor conditions exist under Re-
publican government.
c. II. Prison, a member OF the board
of directors OF u. F. Houghton q Co,
ID and Somerset streets, makes the fol-
owing statement:
We have cut down our stan some
what, but the persons dropped were an
lead wood Conditions are bad today,
out our men are earning more now than
hey did in 1910. Just now We are work
ng at about 20 per cent OF normal.
irgs that this calamity talk be stopped"