Evening star., 1925-04-09

received thlS morning. we are not
aware of any notification such as re-
ferrsd to by you being sent by finan-
cial institutions to building con-
tractors.
Makes No Building Loans.
This bank does not make building
loans. When application is made to
us for loans our policy IL to pass upon
its merits, the elements of desirability
and safety being the determining fac
tors.
HARRY V. HAYNES, President"
National Capital Bank of Washing
toni have a letter signed by you,
bearing no date, which came to my
desk Monday, April s, 1925, in which
you ask to be informed If this bank
has agreed to a plan which has for
it's purpose the refusal of loan money
amount of wages paid to mechanics
performing labor on same.
Replying thereto, you are inform ed
that this bank is q commercial bank.
1t does not lend money on mortgages
and deeds of trust and. therefore,
does not furnish funds directly for
building enterprises.
Its money is loaned to manufac-
turers, wholesale and retail mer-
chants, and in making such loans the
only considerations are the character
of the borrower, the security offered
and the ability to repay amount ad-
| vanced. w. H. Mckee, President"
Anacostta Bank.
The Anacostia Bank-'I am In re-
ceipt this morning of your undated let
of this city not making building loans
| In the event of any increases in wages
above the present scale now being
paid to building ,tradesmen. In this
connection / would say that our in
stitution never has made building
loans. Being a savings institution,
we loan money only on individual
! homes, and in those cases the houses
have to be owned by an individual
owner and entirely clear OF any in
cumbrances.
MAURICE OTTERBACK,
President"
International Exchange Bank-'Re-
plying to your undated letter, have
| the pleasure of informing you that
this bank is not partX to any plan
which has for its purpose the refusal
to loan money for building enter
prises based on the amount Of wages
paid to the mechanic performing the
labor Of same.
| 'Our 0epOe1IOTS arc QI0Wn largely
| from working people and we see no
| reason for the adoption Of a policy
contrary to their interests. Our in
| stitution is here to serve the people
| who work, not to fight them. Its
| past history has not been such a.
| would warrant any assumption that
we would join any such movement
| outlined in your letter.
Your summary demand for infor-
nation as to our status savors rather
of the blacklisting policies which
you are so prone to condemn and
which will not aid materially in the
| JOSEPH SCHIAVONE, President
| Never Discussed Issue.
| Mount Vernon Savings Bank
Permit US to acknowledge the re-
ceipt of your undated letter and I'm
reply thereto We advise that the
Mount Vernon Savings Bank has no,
| in any instance based its services on
any understanding as between them
selves and their employees.
| 1--WE have not at any time discussed
with contractors the question of in
creased wages to their employees and
! have no arrangement with any OF
| them touching this question. We are
| therefore, not in any manner a party
| to any plan which has for it's pur-
/ pose refusal to make loans for build
ling Enterprises based on the question
df wages to mechanics performing 6
labor on same.
CIVILIAN r. BAUM. President