Evening star., 1925-04-10
LABOR MAY FAVOR
FRIENDLY BANKS
Risk Company Threatened,
Both Sides Claim Gains in
e. Painters Strike.

With gains claimed both by the
master painters and the striking
union men today and the efforts OF
the Department Of Labor to bring
both sides to an understanding ap-
parently fruitless, an effort to desig-
nate as labor banks" a certain mum
ber of banks in the District was
promised today by william J. CAL
lagher, organizer for the Brotherhood
of Painters, Decorators and Paper
hangers of America
Mr.. Gallagher declared today that
he would appear before the local
Building Trades Council Monday and
the Central Labor Union Tuesday and
urge those bodies to select few
banks in the District of Columbia as
labor banks" He said he expected
no opposition to this plan.
Threatens Insurance COMPANY.
lie further stated that Il letter had
been sent to the Metropolitan Life
Insurance Co. demanding its attitude
toward the present wage controversy
in the District of Columbiay II il is
unfavorable to organized labor. he
stated, he would see that An appeal
was made to the company's policy
holders throughout the United States.
Additional letters were received
today by the Central Labor Union
from banking institutions here. re-
plying TO the letter sent all banks
in the District by the union querying
them on their policy. At the same
time, Secretary Rogers of the Central
Labor Union discounted any inten-
tion on the part OF his organization
at "blacklisting' banks in the event
their replies were unfavorable to the
unions cause. The ~ letters of
inquiry sent to the banks by the
union stated that unless replies were
received those so failing 70 reply
would be placed on the "acquiescent'
list and that the names Of these
hanks would be given publicity in
trade union publications.
overtures Repulsed.
The request by John Colpoys. medi-
ator for the Department of Labor, for
a meeting between the Master Paint
ers' Association and the union men
was fatty refused BY the master
painters at d meeting yesterday.
The master painters state they are
going to remain by their decision and
will refuse the slightest increase.
While the union men claim that
many of the Independent employers
and one of the master painters have
agreed to the increased wage, the
employers, on the other hand, state
that many of the union men are re-
turning to work under the open shop
at 50 a day Parsley & Sons, they
say, have taken their entire painting
staff back on an open-shop basis.
Additional letters from banks re
ceved today are as follows:
Makes No Building Loans.
Commercial National Bank: In. the
absence of Mr. Donaldson, the presi-
dent of the bank. your letter addressed
to him has been handed to me for
reply, and in answer thereto we beg
20 advise that this bank is not, and
has not been, a party to any plan
contemplating the refusal to loan
money for building purposes based
on an amount of wages paid In. con-
neCtion herewith.
I'VE do not make building loans of
any kind, but lend all of our money
on 90-day notes to our customers
who have maintained satisfactory
balances with US, and the question of
any relations between such custom
ers and their employees has never
been taken into consideration.
JAMES II. BADEN,
Vice President"
Washington Loan and Trust Co
"I wish to acknowledge the receipt
of your letter without date, in which
YOU inquire if our bank is a party TO
any plan which has for its purpose
the refusal to loan money for build
ing enterprises based on the amount
Of wages paid to mechanics.
In reply to this inquiry I have TO
advise you that this company is not
a party to any plan of the character
indicated in your letter.
JOHN B. LARNER, President
National Savings and Trust Co.
I'VE have received your letter sent
to US by registered mail and in re-
sponSe we write you that II is now
and always has been the policy of
this company to make loans upon
real estate based entirely upon the
appraised market value of the prop
erty at the time the loan is made.
"Signed) WILLIAM D. HOOVER,
president"
North Capital Savings Bank-"Re-
fcrring to your letter which I re-
ceived recently, wish to advise you
that this bank is not a party to the
matter to which you refer.
s'THEODORE MICHAEL, President"
The following letter, taking excep-
tion to the communication sent out
by the Central Labor Union, was re-
tceiVed from the Bank of Commerce
and Savings.
The bank quotes the letter they
received and its demands and replies
in part as follows:
In reply to the above please be ad
vised that the Bank of Commerce and
Savings does not make loans for the
purpose of building projects and that
therefore it has no interest whatso-
ever in the subject matter of your
letter.
Question Unwarrnnted.
I II you will indulge a bit of frank
.n.ss in connection with the above,
This Institution desires to make the
4 observation that il questions the pro-
priety of any attempt on the part of
Z your organization to compel a dis
: closure of its purposes, inasmuch as
the success of all financial institu-
tions is primarily based on policy
of strict confidential relations among
; tho personnel Of its managing staff,
which, in itself, should deter a dis
closure of its delibera tionS to outside
parties, and accordingly the compli-
ance with the request such as you
/ make would not alone be unbusiness-
! like, but would probably tend to en-
barrassing results.
{ The further observation should be
made that the spirit of intimidation
which seems to pervade the last para
graph of your letter is one that should
not be encouraged. in the interest of
kood business and fair practices
E. M d. ROSENBERG, President"
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