Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-14
BRANCH AND CHAIN
BANK QUIZ PUSHED
House Committee to Hear
More Witnesses on Pro.
posed Changes.
BY JOHN F. SINCLAIR.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April 14.-Branch, or
chain, banking-iS it good or bad? Its
week to the House committee on bank
ing and currency. John w. Pole, con-
troller of the currency, and Gov. Roy
A. Young of the Federal Reserve Board,
both branch bank champions, have al
ready appeared and suggested Congress
amend the banking act to grant branch
banking privileges within certain definite
trade areas.
How large should these areas be?
Gov. Young thinks there should be 81
districts in the United States. Some
want branch banking confined to cities,
others to States and others to the Fed
eral Reserve districts.
The question seems to be just now,
not whether branch banking is good or
bad, but how far should branch bank
ing be allowed to go.
Tomorrow E. w. Decker of the North
west incorporation, which controls
and operates los banks in three Federal
Reserve districts, with combined re-
sources of $3.50, 100000, will appear be-
fore the House committee. l.. z. wake
field, president of the First National
Bank of Minneapolis, which is associated
with the First Bank Stock Corporation
and controls 81 banks, having resources
of $450, 1000 900, all in the ninth Federal
Reserve district, will give his views on
Wednesday.
Then Robert o. Lord of the Guard
ian-Detroit group, which includes 81
banks in Michigan, representing aggre-
gate resources of $510,000,000, will pre-
sent the case for group banking to the
committee.
These bankers will be followed by
George F. Rand of the Marine Mid
land Corporation of Buffalo, which
controls 18 banks in New York State,
commanding resources of more than
$600,000 900.
Later the real leader of branch bank
ing in the United States, A. P. Clan
mini of California. and his first assist
ant. James A. Bacigalupi, will give
their opinions to the committee.
After the branch and group banking
champions are through those in OPP
position to these new banking trends
will have their say.
The stronger undertone in business,
led by the new drive in the motor in
dustry, may have something to do with
the reviving interest in the stock
market.
lost last Fall has been recovered:
bullQl1R COI1SGTuCllOIl, OOO, 10 oAAOWAAlS
I'D we'll. There we're more contracts
awarded in March-$459, / IL, 000-than
in any month since last August, accord
ing to the F. w. Dodge Corporation.
The increase was As per cent greater
than in February of this year and but
5 per cent under March of 1929.
While the total for the first three
months-S1, 100, 000,0 00-is about II
per cent less than for the correspond
ing period of 1929, construction in the
second quarter should equal and per-
Iaps exceed the record Of the second
quarter of last year.
One billion dollars!-that's what the
United States can expect to save IN
the next six years, by signing the Lon
don naval parity agreement, tnlnKS
President Hoover.
It will cost the United States Gov
eminent from $550,000,000 to $780, OO,-
600 in the next six years for replace
ments and new constructions. as COM
pared to 81 400 900 900 to 81 600 600 600
"under the Geneva parity basis, to
which the world was steadily drifting,
Altogether the world will save In six
Yeas S2,500,OO0,000. Turn this sum
into productive enterprise and a great
stimulus to world prosperity Will result,
suggests President Hoover.
The successful glider flight OF Capt..
Hawks from San Diego to New York
opens up vast possibilities for popular
izing flying.
Kenneth M. Lane, chief engineer OF
the aeronautics branch of the United
States Department of Commerce, sug-
Eests that a glider with low-powered
motor offers an opportunity to the per-
son who wants to fly, but who does not
have the time or the money to take a
training course. or who cannot afford
to buy a high-priced plane. By flying
a glider, it is said that one acquires
''tf1e feel of the air. and learns some
Of the more rudimentary principles OF
air control.
Germany has developed the glider
more rapidly than any other nation, be-
cause under the peace treaty Germany
was prohibited from flying planes with
motor power. But Germany has shown
the world that the possibility of serious
accidents Is greatly decreased by early
training in the landing OF gliders.
Airplane manufacturers do not oppose !
the "glider movement in the United |
States. Some of them believe it is the |
best way to make the American people |
air-minded and airplane travel popular. |
copyright, 1890. By North American News. |