The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-06
BANKS ADVISED
TO LOOSEN UP
LOAN SERVICES
Liberalization of Credit Is
Urqed Before State
Bankers.
OFFICERS TO BE NAMED
Honesty Is Best Safeguard,
Reserve Board Official
Tells Group.

The banker should endeavor by
every means a. his command 70
grant credit 10 all borrowers,
Robert V. Fleming. first vice presi-
dent. American Bankers Association.
declared a. the luncheon session Of
the Indiana Bankers Association
convention this afternoon at the
Clayp0ol.
Furthermore, II loan Is not
bsnkable IN the form applied for,
then 1 think it. Is our duty to spare
no pains TO place the loan in bank
able form. n u Is at all possible 10
do So said Mr.. Fleming, who Is
president ana board chairman Of
the Rigs National Bank. Washing
ton.
A ples for reliance on develop
msnt OF bank executives Of the
highest training and character as
a means Of providing a sound bank
ing system. rather than on re-
strictiye laws. vas MADE by John
s. Wood. chairman or the board
and Federal Reserve agent OF the
Federal Reserve Bank OF st. Louis,
this morning.
Urges Government support
Mr.. Fleming IN his luncheon ad-
dress urged that the bankers get be-
hind the governments Efforts for
recovery BY aiding 10 create Suffi-
Gent purchasing power ~ justify
new employment IN productive en-
terpfiSe.
He pointed out that while the
government debt Is increasing and
that as Federal funds are disburSed
money will ind its way back 10 the
banks from those who are provided
With contracts and employment.
A large part OF his address was
devoted 10 a description Of the prog
ress OF the Federal Banking Act
through Congress.
Officers 10 BE Named.
A.W. Harrington. president of the
MarmOn- Harrington Co. of In
dianapolis. also spoke this morn
ing. His subject was Some Eco
nomic Aspects on the Maintenance
of a Defense System for the United
States"
b. d. Mitchell. KOkOmO, vice pres
idrnt Of the association, automat-
icaIly is scheduled for elevation TO
the presidency at the annual cleo
ton of officers this afternoon.
He Will succeed NJ. j. Kreisle,
Tell CITY. Other officers to be elect
ed are Charles B. EnlOw. Evansville,
as vice president. and Ed Long, JET
ferSonville. as treasurer to succeed
William p. Flynn. Indianapolis.
McNutt Lauds State Plan
Gov. Paul V. MCNutt was the
principal speaker last night at the
annual banquet which ended activ-
tiles OF the FIRST of the two-day ses-
sion
The Governor discussed operation
of the 1898 state financial inStltu-
tions act and the advantage of the
Indiana plan OF liquidatIng banks
instead Of placing them in receiver
ships with receiver and attorney fees
TO pay.
He paid high tribute 10 Herman
r. Wells. the financial department
secretary. VINO has resigned TO be-
come dean Of the school OF COM
merce and industry at Indiana Uni
verSity.
Others Heard by Bankers
Other speakers on yesterdays pro-
gram included. Mr.. KreiSle: Mayor
john W. Kern. Mt FLYNN. Don
Warrick. secretary Of the sssocia-
ton: Congressman John w. Boehne
OF the Eighth District.
Also r. Earl Peters. Federal hous-
ing director for Indiana: Henry Y.
Ofutt. vice president Of the First
National Bank-Kentucky Title Trust
Co. Louisville: L L Sporting. Cleve-
land. president Of the Financial
Advertisers Association.
Earl Crawford. Milton. chairman
OF the associations public relations
committee. and ?. H Whaley. Wash
ington. editor Of the Whsley-Eston
Financial and Economic Advisory
Service.