Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-07-26
BANK IS PLANNED ]
FOR LABOR UNION
Step Is Taken to Combat 'opeo
Shop Efforts Of Chamber
of Commerce
big BUSINESS BANKS HIT

Action looking to the organiza,io,
of bank operated and controlled hv
labor unions was begun yesterday.
A resolution to organize the co ons,.
ative institution was adopted ycster.
day by the Central Labor Un,on
previous to the scmiannual election 4,
new officers. held at 232 North Ninth
street.
As explained by Felix Heinzel, m.
re elected financial secretary, the 20.
operative bank plan is the first stoD
organized labor in Philadelphia h,,
taken to combat the action Of tba
Chamber of Commerce in indorsing ao
"opcn -shop" program. Nj
According to brief outline Of III.
plans, which the committee in chnrre
hopes to present at the next meeting
of the Central Labor Union. the basic
principle is for every member with a
bank account to withdraw his money
from the various local banks. particu.
larly those In which members of the
Chamber of Commerce are interested
and place It in the 60 Operative bank,
"By Withdrawing our funds from ths
banks controlled by big business we
take away the very rope by means Of
which they proposed to hang organized
labor" said Mr.. Heinzel.
while the resolution was officially
placed in motion today" he continued,
I'VE have been formulating plans to
combat the open shop propaganda
ever since the Chamber of Commerce
started its drive. We do not propose
anything along direct radical lines, but
are confident that VIC can beat them
with their own wcnpon--and that is,
money. II we stood by and did nothing
to fight the open shop. unionism in
Philadelphia would perish like a snow.
storm in the spring"
Mr.. Hcinzel then told of a financial
expert from New York. who is assisting
the local committee. 1t IL predicted BY
Mr.. Heinzel that there will be one large
central bank with several branches eS ..
tablished in various sections of the city.
1t IL also proposed that instead Of the
usual interest paid by savings banks
throughout the city the CO. operative
bank shall pay to its dcpositors regu.
lar dividend.
Following the CO. operative bank rcso :
luton the semiannual elections were
held.
John d. Cloud, member of the
Federal Employees Union, n mo.
strik organization, but who was
backed by the progressive" or radical
element, won the presidents seat from
John j. McDevitt. who had already
served two terms. Mr.. McDevitt was
supported by the followers Of Frank
Feenev, who Is looked upon by the old
union members as a conservative. Mr..
Cloud received sixty votes, while Nc
Dewitt pollcd fifty -four.
When the result of the vote for vicc
president was announced great roar
arose. Adolph Hirschberg. backed by
the progressives, won by one vote from
Frank O'Brien. who has been acting
vice chairman for a month. O'Bricn
was appointed to succeed Alexander
Mcguire. who was disqualified at the
last meeting.
Frank Rurch was again elected as
recording secretary. Felix HeinZel wns
re. elected financial secretary and
Michael .Coaklev sergeant at arms.
The last three officers were unopposcd
James Cronin was defeated by Harry
Shaner for trustee. When the final
election results were announced 1t
was found that the radical group had
made clean sweep. Among the dele
gates who attended were nearly score
OF women. representing the various
trades and crafts made up entirely of
women workers who have organized
and become affiliated with the central
labor body.