The Waterbury Democrat., 1935-06-12
Outlook For Savings
 Discussed At Omaha
American Institute Members at Convention Told De
 pression Impedes People From Investing Money

Dmaha. Neb., June 12.-All the savings and investment funds now available at low interest rates will find a demand on a large scale when we reach the end of the de- precision, Dan ". stephens, presi- dent Stephens National Bank, Ere mont, Nebraska, predicted in his address, "Competition in the Saw ines Field,'' before the savings banking conference at the con- vemfion of the American Institute Of Banking Section of the Ameri- can Bankers Association here to- day.
 sSo long as the banks and other financial institutions of the coun- try have a great surplus of funds that can not be safely invested, just so long will the conditions in the savings field be very discour aging.' MT. Stephens said. We ins1st mark time until business ac- tivify returns, calling for use Of the money we have on deposit.
 .We are constantly remindirS our customers we cant pay the usual interest on their savings be- cause so mtch of their money must liesidle. This causes irritation both to-the owner of the capital and the banks that must stand in the atti- tude of bearing the bad news to the investor that his money isn't worth. very much.
 ssWe have various institutions that are acting as depository for savings. Savings banks must in. vest their savings in competition with many other investment instf- tutfons, among them being the postoffice department, thrift asso- citations and investment brokers generally. Competition in the sav- ings field has many qualifications besides the rate of interest pad on the deposit, or the rate the in- vestor receives on his money"
 In pre-depression days people s'went mad with the desire to be- come rich quickly MT. Stephens said: continuing:
 s"They saw others making what appeared to them very fortunate Investments and becoming alleged- ly very prosperous over night, which had the effect of intoxicat- ing them with the gamblers spirit. They could be sold any sort of stock or bond by even mediocre statesmen. There were plenty of high-pressure salesmen engaged in the business of brokerage of stocks aud bonds at that time. The re- suit of all of this speculation bfeught upon us the great depres- sinn out of which we are slowly climbing now.
 Decrease Results
 ,ss'The depression has been so great that people are still trem- bling with fear, still refusing to in- welt their money. The result is there is a faux in all of the bank ing and financial institutions in the country that cannot be invest ed.to any great extent at the pres ent moment. but the field is open ing up gradually and there is req son to believe that in very short tiFne there Is going to be demand for investments on a huge scale.
 "Bushless is picking up every where and investors are gradually creeping back out of the shadows, making preparations to meet the demand that is sure to follow business activity. The low rates of Interest are not to4be deplorcd because it is this low rate of in- tdrest that is going to stimulate business and bring us back to prosperity.$
 hfr. Stephens expressed the opin- ion that bunks should attend to cosnmercial loans and commercial, transactionsj instead of attempting