The Bridgeport times and evening farmer., 1921-02-03

I read with interest your edi- torial on the consolidation of the local banks, in the issue of Jan uary 29; certainly in some points of the article you are right. New ertheleGs there is another side to the question that can be discuss ed frankly.
 I disagree with you that this is the era of consolidation in banking-or in manufacturing- in other words consultations means standardization and that is bad for the little fellow in any community.
 In sections of this county and even in Bridgeport the tendency of today is to bring the bank to the people, as is proven by the successful operation of Trust companies in the East Sideg~ East End, West End, and North End In Detroit there seems to be a bank in every block What is the reason of the success Of these smaller banks? They fill a need they appeal to the smaller mer- chant-the smaller saver and the needs of the household manager. These factors are a necessity in our life the merchant that serves in various parts of the city is essential to the community life, so that instead of favor1ng centraliza1ion and consolidation I think the people desire exten- sions and additional sectional banks, as growth warrants
 Among people in various spheres that have talked over the consolidation, the opinion seems to be that 0,000,000 placed in the hands of one group, means life or death to the business life of Bridgeport. Certainly in the hands of the present group or high character you are right in stating that it is a happy cir cumstance'' for the city, but as this group go through life and pass on, another group, who are envious. interruptions men may seek control and serve. In pos
 sibIy a. decade they could, by their secret and sinister opera tions, cause the sapping of the business vitality of our city.
 It has been done in the past.
 In New York, in 1907, many respectable, sound and efficient institutions were wrecked by un- scruplous operators who had their own desires to gratify and their work is only discovered after the wreck has occurred.
 The best and only sound argu- ment advanced for the consohda- ton is the accommodation tha1 can be given to large borrowers On this point many abuses car happen. I have heard it dis discussed frankly that the banl should print with a bank state ment a list of personal and cor poration loans borrowing nor than 1 per cent of the capita and surplus. This may mean al infringement upon the rights O the banks but certainly any hon est bank should not be afraid u publish such a list. If they ob a jected to such a statement the, may not wish the light of pub Ecfry on such loans.
 In another statement I wil write you on the cause of fac tory consolidation, or centraH zation, as soon as I can Secur, some statistics that I want to us in my argument
 Under the present manage ment of the three larger bank in Bridgeport the city should prosper, as the men in charg' are broad minded, big hearted They have a tremendous power and a great responsibility. They must guard well for centraliza ton is a wonderful point in thu argument brought by radicaL who desire to overthrow our in Stitutions. The radicai desires tt overthrow our institutions iron the outside The bank tha would deny service to a worth! man makes a radical of that mar We do not want producers O. radicals in our city as I hope th' power in their hands will be use6 for all who are worthy, regard less of race, color or creed.