The Connecticut labor news., 1924-09-13

l Organized Labor in Connecticut going into the Banking business. The first meeting of the Committee was held in the City of Stamford Mir Peter J. Brady President of the Federation Bank of New York City, was present upon invitation and addressed the Com nittee and the members of the Execu- tive Council of the Federation. Fol lowing MT. Brady's address the Bank Committee organized, electing P. F. | O'Meara Chairman and I. M Ornburn Secretary, considerable time has been given to this project since then by your secretary, 1t has required visiting many of the local unions who desired more detailed information than could have been imparted to them by correspon- dence, several meetings have been held with our Attorney Mir. Spellacy and also the Bank Commissioners Officer
 Meetings were held at various times by the committee and finally a special Convention was called in New Haven March End, 1924, at which time the committee was instructed to proceed to poll the organized workers of the State on the question as to whether 1t was their desire to assist in such a tremen- secured which disclosed the fact that the overwhelming majority of the locals voting on the proposition was in favor of organizing Labor Bank. com mittee again met after the vote was re- corded and decided to go forward with the actual sale of the stock. The appeal to locals to purchase stock wetnt for ward about the 5th of July this year The committee was ever mindful of the fact that few local unions hold their regu- lar meeting during July and August and that as soon as the cooler weather set in they could expect greater support from the officers and members through out the State. Considering the careful consideration given this proposition by your committee in view of the respon- sibility resting upon them, THE OR GANIZATION OF A LABOR BANK in Connecticut has become a reality Information received at the office of the Federation has been ever encouraging, from all parts of the state word has been received of Labor's desire to CO., operate. Individuals outside the Labor Movement have expressed desire to purchase one or more shares of the stock, but your committee has decided to restrict the sale of stock until fur ther notice to only members of the La bor Organizations. Its my opinion that nothing can alter or prevent the organ ization of the Bank, all that is now needed the proposition a hugh success Is just little cooperation from the lo- cal unions. The Attorney MT. Spellacy has assured me~of. his desire to con tinue his services free of charge if 1t be the desire of this convention. For the information of the delegates am sub hitting a list of the local unions and members that have subscribed for stock todate;
 Connecticut Federation of Labor Bank
 and Trust Company
 (Organizing)
 Textile Operators, CD, Taft
 vile, ZOO.OO Moving Picture Operators, CD
 Waterbury, --.---------------.-- 20.00 B. of P. D. & P. of A. CD
 New Britain, ----.,---------------.---- 5000 Winders, CD, Willfmantic, - 20.O0 B. of P. D. & P. of A. CD,
 Waterbury, ----------------------------- 10000 Painters & Decorators, @,
 Meriden, 4000 Mule Spinners, (2), Baltic :. 10000 Wood wire and metal Lathers
 CD New Haven, ---- 10000 Street Ky. Employees, @,
 Bridgeport, --------------- ----,-----,---- 10000 Metal Polishers, CD, Bridge
 port ---------------.,------.,-- 2OOO Barbers, CD, Meriden, --------- 10000