The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-10-22
RlNIERS LOOK.
FlRRARDD. , NOV
NH OPTIMISM.
| Illustrations Pla Gin g
JRecOvery Before Re-
iorm is Helpful
||lDY WITH MORE
I0ANS FOR BUSINESS

rSuNGTON. Oct. %. (UP)
Silent ,a Francis NJ. Law, OF
american Bankers Association
u, , grgsd bankers at the SIX
I: annual convention to CO.
a. wboleheartedly with the
|ar,rment in the fight for eeono-
i,rS oD,omistic speech was
A. the latest evidence Of
- better relations between
~ and business generally and
glninistratiOn.
Il lax said Il believe bankers
rsiy 10 put their shoulders-to
! Wheel in any recovery pro-
- Eaich would not Interfere
N Ultimate banking and depo-
gy interests.
y. realize there are idle men
die dollars. 1t is our job to
yu: both back to work"
aid fears of uncontrolled in
Ian had ceased to harass fl
Es.s while government credit
.a no apprehension.
lT earlier had blamed hest
ky Of business to utilize bank
b: on two things.
That the world is in a per-
Of change and fear of the flu
II haS caused business to adopt
nvOnseryative tactics.
(! That business men were
ayily in debt when the depres-
l struck. Many of these debts
ays been liquidated an dbusiness
s:& have been enjoying "being
b 0: debt"
Failure Of the administration to
nance the budget, Law indicat-
vas not seriously disturbing
b bankers.
-ETe,yOne would like TO see the
.!ge: balanced" he declared,
=: NOS: Of US realize that it is
t!o&t5te to do so at this time"
Law vas emphatic in his decl-
neon that the nations financi-
Rhat no apprehension about the
PAYMENTS credit.
IL general feeling of optimism
TAysi by law and several of
a-eagueS lent new force to
as that q truce had been
a. between bankers and the
Z,S,ra.iOn.
: changed attitude of the fl
Ears some Of the delegates
vas based on 4 number of
12aentS that occurred since
ne, IN convention a year ago.
3 include:
1ue Of the president to uti-
currency initiation powers
1'1 him by congress; the or
.'a methods followed by the
Sl'? IN its refinancing pro-
L assurance by the new gov
ooard that the NRA would
t 4 business unnecessarily
2e general tendency of the
;--1S''atlon to place recovery
ie reform.
=, the bankers prepared to be-
asr deliberations. the treas
s. !. announced a series of deve-
49, 49, looking toward steady
aoll'attOn Of the nations bank
structure. They were:
FEDERAL reserve banks have
sl or approved commit
- y Of SlO,O84,OCO to supply
capital TO Industrial and
i S5S enterprises up to Oct.
H., Between Aug. 20 and Sept.
Mn was. vas a growth of S158,OOO,-
h. vans other than money ad-
b On securities, making a
T. "a increase of $274,OOO,OOO
hy. S,s.fIretary Of Treasury Henry
GSs, a;aau Jr. promised early
h $40; OF banking reforms
~ 1y.ns drafted by a special
Wy committee.
Comptroller Of Currency ].
r., VConnor completed plans
n sale Of remaining assets
la, ns9.vent bank in North
ss,; .aoer a new plan whereby
i Js bank insolvencies are
NSOSeQ Of.
H., Vy9 AZ 36I banks. other than
esI 5 SSylngs Banks, with com
. Tempo rsPoslts Of $2O6, 900
| d ' 0oIsa unlicensed. WV
fi8. g Ssy 1857 of the nations
RI h ", %s@nas were not participant
casce ~. government deposit in
| hs9rssSta 3 on Sept. /. Deposits
Ssd s3SU pa banks on June 30 to-
aniss;e e securities and exchange
Cleysiaa granted permission to
II n y5and Stock Exchange to
lnsse pass oa books of building,
slssnnenT,',, u loan companies and
ada,ios Of claims of banks in
toat Ia. until July l. 1885 5,
& 'es'S'ering the obliga-
eaisnsSa5s:n1 to the PA loans or
s'g and 81 TO advances to in
ssts Rs Commerce made by the
"a l3S is5 banks, an add
's''sd s15;0, 600 have been an.
esrts iio0leet to the filfiIIme ep
Conf conditions, the federal