Detroit evening times. (Detroit, Mich) 1921-1958, 1942-09-08
On the
Business
Front
BY WARD SCHULTZ
p..r.is rsms. EIaaselsi Ea,,ss

DETROITS BANKS pre- facing
IN increasingly difficult personnel
problem.
A combination Of the draft and
che lure of higher wages in indus
trial plants has already siphoned
hundreds Of workers out OF our
financial institutions.
The three larger banks have lost
about a hundred apiece or more in
the last eight months and although
they have been able TO make re-
placements in most cases the task
Is becoming increasingly difficult.
Salvation Of he banks TO date
Is the fact that most OF them have
excellent retirement and hoSpitali-
xation plans in effect and h e S c
supply a strong incentive TO
''stick."
Nor has the trend been confined
10 the clerical help either. One
vice president repeatedly resigned
last week in order TO better him
self financially.
A straw in the wind is the re-
port that two of the banks here
have openly indicated they are no
longer participating In gentle
mans agreement not TO hire any
employe OF any other Detroi I
bank. This agreement had been in
effect for nearly 10 years.
Under the so-called pact, some
cross hiring was done. but on y
with full consent of the bank en-
ployes previous employer.
While there will be no raiding OF
bank STATS, I'm told that appli-
cants for jobs will be hired or re-
jected purely on a merit basis.
One bank executive told me that
he has long felt the agreement in
fringed on the basic right of an
employe to better himself If
possible.
IT is felt that both banks and
employees will benefit by the
change.
MAI. CARL ANGSTROM. part
ner of the old brokerage firm Of
HUMPHREYS. Angstrom e. Co., is
anxiously awaiting word on his APP
plication for commission, I'm
told.
Major Angstrom was with the
Raj in the last war and organized
and trained two squadrons for
them in this country. When the
United States entered the war he
switched to the American air force
and trained a squadron for our
own army.
Until recently. Mrs. Angstrom
knew nothing of the application
However, not long ago a friend
was dining with the Angstroms
and casually mentioned tn he
had n otice d the majors name
listed in the applications for re-
commissioning.
There was heavy silence finally
broken by Mrs. Angstrom:
VI. 81 didn't know you had made
application, Carl"
II would have been hard TO tell
who was the more embarrassed.
Major Angstrom or his friend.
IT WAS some time ago, that a
Packard engineer told me about
their multifold troubles in the pro-
duction of the Rolls Royce engine.
He said that changes and i'm
provements suggested by their en-
gineers were turned down fatty by
the British Purchasing Commits
sion on the grounds that IL incor-
porated. the engine just wouldn't
be a Rolls Royce"
But I'm told that all this has
changed now and every month,
British experts carry blue prints
back to England so that Rolls en-
gineers can use Packard hints.
The cooperative spirit has en-
abled both outfits to do far bet
ter job.
And, incidentally, stories that
British built Rolls engines are bet
q ter than Packard built jobs Is just
plain hooey. because. II anything.
IT'S just the opposite. However,
there ia an irf1nroyad model and