davidaulloa/AmericanStories huggingface dataset:
Evening star., 1951-05-02
PRINCE GEORGES COUNT

old 5-rm. home;
$1,000 down, S65 mo-. near schools
and carline. JOHN H. JOHNSON,
CARMODY HMLS-Practically new,
Arm. and bath bungalow. Priced
$3.50, easy terms. o. B. zANT-
FINGER, Jr.. WA. 1919; eyes,, WA.
CHEVERLY, 1897 Dewey st.-charm-
ing 5-room home in this desirable
lot: vacant; needs some redecroat-
ing. Price, S13.750. CAN Wa 5000
till o pm. ROBERT Q. DAVIS u
Co.. Realtors. -S
Evening star., 1951-05-02
ONE OF THE FEW
LUXURY HOME
Rambler of Endearing
Realltv

Situated on nearly 's.-acre corner
and especially designed for easy
comfortable living. Red brick. Ex-
hali: commandine livinr rm: - Sc.
parate dining rm.; and kitchen
equipped with cleo range, refgr.
disposal, dishwasher-yes, plenty OF
space for breakfast table. There are
3 bedrms., 2 baths. plus a study.
ing. Bsmt. has complete laundry in
cluding auto. washer and clothes
dryer. A custom offering for people
With special tastes and desires
$31 500. Call
Real Estate Service, Inc.
4763 Lee hwy. OF Glebe. Ow. 5000.
Evening star., 1951-05-02
HOUSES FOR sALE---MD.
ROCK CREEK FOREST
SIX-ROOM DETACHED BRICK
NAi OF akkXl

Two years old. beautiful living room
with fireplace and side porch, cen
ter alcove entrance. family-size din
ing room, light modern kitchen
powder room. three extra large bed
rooms and bath. full basement, gas
heat, several deep closets with slid
school and modern shopping center
bus stop at door; possession with
title. Approximately $1,000 above
present FILA. GI trusts win buy
Miss Watwood. DU. 010S.
MARSHALL j. WAPLE co.
1874 14th st. NV. DI 3346
Evening star., 1951-05-02
VIENNA
u ACRE

12 AONE
This 3-bedroom bungalow has Just
been repainted on the outside. and
looks as pretty as a picture. Living
room is Is IT. long with fireplace
Separate dining room and bsmt
Owner leaving area Priced for quick
sale For appointment. call FA.
Stanley r. Roland Co., Inc.
Exclusive Agent
116 East Broad St., Falls Church, Va.
Evening star., 1951-05-02
1a-ACRE, WOODED
LOVELY WHITE BRICK

12-ACRE, WOODED
LOVELY WHITE BRICK
Featuring center entrance, approx
81 1T. liy. rm. with stone fireplace
banQuet-size dining rm.: lst-fi. bed.
rm. and fun tile bath. Upstairs,
very. lse.. bedrms. and End bath
Kitchen is equipped. and arranged
bsmt. Det. Lear garage. Only &C
min. from d. c. in picturesque
neighborhood Of suburban homes
At S19.750 it's a bargain. See fol-
yourself. CAL Ow. on"H.
ONE OF THE FEW
Homes one can find that eombin.
that rare combination of settled
mature, spacious charm without
sacrificing location and modern con.
veniences. This 2-story Dutch ha,
grown more gracious and digniflec
with time. Its interior is immacu-
late and in good taste. Center
entrance with liv. rm. and screened
veranda on one side: dining rm.
kitchen and breakfast rm. on the
other. Upstairs, are 3 bedrms. e
twins) and . tile baths. Complete
bsmt:; built-fn garage. Oil .h.-w
heating system. WelI-kept lawn
l15K117. There can be no sub.
stitute for this value. $23,5oo
Shown by app't. only. Call OW
Evening star., 1951-05-02
HousEs-sALe-MD. tcsns., ,

3 S-BEDROOM, liz bath. brick; WILL
shopping. schools. SIS. BOO. OWNER
EXCLUSIVE WOODsIDE FOREST
2la-story. all-brick; full bath and
Ssf5s SSsa55oom and st aOOr; Moor; bedrooms Esm'n
selaen.d Sas sade pQsss: eSS5 ialasss;
beautiful fenced lof. For additional
lzRssSEs@s1,0Pi PsEpHRIck 81 TX fkaEZRi kEf e T.
s1,ATE, TATE, Re; ;.S4 S4S1; ,...., a
sEssk ,Etas6.g Hs STss SHIs. is.s TSS
Hss5aeis ma:tel isslsj SaEs. br.sSfas, sSHn;
room; full basement; 2 flreplaces;
/, S34. ESQ. CAN WI. 1854. FRANK
SACK 4 rKkiHaolsf boMELfn I saRt SILVER Spring; nv
rm., din and kit comb. bedrms
and bath on one floor; large end a.
can be finished into extra large rm
with finished stairway; full bsmt
with outside entrances; large lot;
Prees Fs4ces at rsnSsp sPs q Tms ssaOoi
JAMES q; DRAPER. JU. 7-s"11;
JUST OUT OF A MAGAZINE-Fasci-
mating 2-bedroom rambler with
eVerytnluBr Gls1,cDU SuO I'll AOuA
STILES REAL ESTATE. DI. 2sSs
soFAMILY. sis,sSo, very nice home
and income in Takoma PIX 2-bed-
rm. apt. for purchaser: oil heat;
garage; blks. to downtown bus.
RAFFELL REAL ESTATE, SH. 7O3"
81, IS 500 q DOWN. solid-built, S-rm. det.
home on Carroll ave. in Takome
PIX. Vacant: oil heat; garage. zoned
for families. RAFFELL REAL
ESTATE. SH. !032 till 9.
RAMBLER BARGAIN. &l3,sS0.
Builder must sell and may take
less with $1,000 down. 2 bedrms..
huge picture windows. disposal:
In Kensington area. RAFFELL REAL
ESTATE, SH. 1874 till 3.
SUBURBAN HOME. 7 yrs. old. 4 bed
rms. 14xe2 liv. rm., lgs. mod; kit.
with dinette space. Beth. -Rockviile
Ssss,.I area PSs nnv s4sSo q SErH%s e RGn
w. LaRoUcH, OIL. 0070; ewes, WI.
COUNTRY HOME. Located on .
Silver Spring, is this e-story frame
home with 3 bedrms. and bath on
end. Liv. rm., din rm., lge. kit.
with pantry and incl. back porch;
also lee. front porch; bsmt. with
oil h.-w.h. This house is in good
cond. Scar garage and other. out
bldgs. About Is acre Is offered for
desired. R. T. BRos1Us, Realtor,
Exclusive. SH O420; ewes, Mr..
Scott, SH. 1851.
Evening star., 1951-05-02

LYON PARK
Five bedrms.. 21a baths, full bsmt.. oi
NV. h. 2 beaut. lots. very cony
location, large rms. and $5 900 cash
A. combination hard to better
whether you need the space for tn,
family or maybe interested in rent
ing rooms. May consider smalle
home in trade.
Cecil B. Lupton, Realtor
OW.. 5333: ewes. IA. S-1074.
Evening star., 1951-05-02
DISTRICT HEIGHTS. MD
HAMPSHIRE HILLS

A practically new 3-bedrm. detached
brick featuring streamlined kit. with
posal; ist Il. powder rm.: 3 6edrms.
and bath; priced reasonably at Sea-
$50. Mr.. Tolley, 81. S571 with
LEGUM g. GERBER REALTY CO.,
AD 1900 .
Evening star., 1951-05-02
LANDOVER

Attractive Groom Colonial-type home
Liv. rm.. din. rn., kitchen, 3-bed-
rms and bath; full bsmt.; large
fenced corner lot; very select
utilities. Just / block from ele-
mentary school, 3 blocks from
shopping, Catholic and Protestant
churches, Capital Transit bus ser
vice. Only 20 min. from downtown
by Greyhound bus. Owner must
down. payment of only $1,000. A
truly fine home. Move in ano
start living right.
T. D. BURGESS
Evening star., 1951-05-02
SITTTI,AND
UNIVERSITY HILLS

2-sr ;-old brick Cape Cod; living ROOM
dining room, kitchen, 2 bedrooms
and bath on first floor; permanent
stairway to bedroom in expandable
attic. and large storage space:
double insulation: full basement
dows, gas a.-c. heat, large land
scaped yard. Owner is leaving
town and must sell; terms ar
ranged. For appointment. call Mr..
Hoke. .DI. 02222; ewes, OIL. 45g3,
WALKER g. DUNLOP. INC, 1900
18th ST. NV. a
Evening star., 1951-05-02
"EYE-APPEAL"
BETHESDA
PICTURESQUE ESTATE

Brick Colonial-1Ka Acres
First offering of this spacious home
designed for those desirous Of seclu-
sion, restful atmosphere. within 80
minutes Of downtown Washington.
Beautifully handicapped grounds. Fea-
lures center-han plan, o6-ft. living
room, fireplace, entertaining dining
room, powder room. side, porch on
second floor: finished third floor,
space for . bedrooms; full basement,
bath, outside entrance, oil h.-w.h.
Priced for immediate sale at 500,
300. Call Mr.. Smith. LO. 5-2910,
evenings, Ma. 5005. days.
FREDERICK w. BERENS SALES. INC
1So0 u CIT n Wy
Evening star., 1951-05-02
HEAVEN

Is straight up, Garden City is Oh Lee
hwy. and the home We have TO sell
in that area is as hes venly as you
will md, A 4-bedrm ork. Colonial
with baths. full din. rm.. and q
beautiful back yard with an arbor.
The price is really right. S23, $50;
the financing is even better. Call
US early and let us show you this
home somebody else gets 1t.
VIM. L. WAKEFIELD
Evening star., 1951-05-05
BMa1Maw =
M 7m NIohoA ONGA

He stood up and began to pac,
the floor, his short legs takini
quick steps. "They used a lot O.
Chicago singers and dancers il
that show. If I can locate som,
of them maybe I'll get a lead or
Gloria and Jeremy. It's worth &
try. Tani. Tell you what-I'll TAKE
a plane to Chicago tonight. Yol
hole up here and wait till yot
hear from me. There's plenty o.
| food in the Kitchen"
Still talking exeitedly he went
into the bedroom. threw a few
odd items of clothing into a small
gladstone bag, and came out II
minutes later.
Tania, huddled in a big chair
stared up at him with great brown
eyes. In them now was a glim-
mer of hope. you're so good to
me, Mickey. I feel safer now
I know you'll find something
We've got to get out of this hor-
rible blind alley!"
Blind alley is right" he agreed
Just sit tight, baby, and keep
your fingers crossed. should be
back in a day or two. Don I
open the door or answer the
phone"
The door closed behind him. He
ran down the stairs.
Alone in the apartment all OF
Tania's fears catapulted back into
her mind. What if the Chicago
trip turned out to be wild goose
chase and Mickey learned moth
ing? What then? And were they
right? Was it Gloria?
ITO Be Continued.)
Evening star., 1951-05-05
Six Hagerstown Clubs Lose
Liquor Permits by Gaming
By the Assoeioted Press

HAGERSTOWN, Md. May S.
Six clubs and fraternal organiza-
tionS lost their alcoholic beverage
license temporarily yesterday be-
cause they maintained gambling
devices.
The Washington County Liquor
Board imposed a 40-day suspen-
sion on the Woodmen of the
World. the Redmen, the Moose
and the CIO United Auto Workers
local 842. Twenty-day penalties
were meted out to the Eagles and
the Knights of Columbus.
The clubs must stop serving
drinks at 1901 am. tomorrow.
All pleaded guilty recently in
circuit court to charges of main
tanning slot machines or punch
boards.
Evening star., 1951-05-05
By the Associated Press

TOKYO, May 5.-The COM
imanding officer of the Ethiopian
Iexpeditionary forces to Korea
arrived here yesterday to await
his light infantry battalion, now
en- route by ship.
He is Col. Kebbede Guebre, 35.
hand-picked by Emperor Halle
Selassie to lead the first Ethiopian
combat contingent to fight out
side Africa in 13 centuries.
The battalion, composed of
Evening star., 1951-05-05
More BeIqions to Korea

UNITED NATIONS, N. Y, May
S R.-Belgium informed the
U. N. yesterday it will send 225
volunteers in June to join the
Belgian force of $50 men now
fighting in Korea.
Evening star., 1951-05-05
Ethiopion Commander Arrives in Tokyo

trained volunteers of the Imperial
Guard, will be equipped with
American weapons and supplies.
Evening star., 1951-03-18

NV, $4,000 bond; Robert Simp-
kins, jr., %. colored, a clerk, OF
the 100 block of Sixth street
INV, $4,000 bond; George Willis
30, colored. of the 400 block of M
street NV. $500 bond, and
Arthur Kelly. 26. colored, of the
1400 block of v street NV, S4,-
900 bond. These cases all were
continued until March IS.
Charges Continued.
Continued until March 81 were
narcotics charges against:
Arthur Williams, alias Fats
rs, colored. a helper, of the 400
block of Florida avenue NV,
held on $500 bond; Mary Staten,
alias big Butch" 81, colored. of
the 1900 block of Seventeenth
street NV. $2.500 bond; Dorothy
Buchanan, alias Ruben Carter, 90,
colored, waitress, of the 300 block
of P street NV, $4,000 bond;
Jesse Smith, %, colored, alias
Sidney Greenstreet," a porter
Evening star., 1951-03-18

House secretariat." Senator Ben
nett told reporters. I'D like to
hear Mr.. Valentines story about
that. I'd like to hear more details
Iof the reasons why he was forced
out, Mr.. Johnston appointed and
Mr.. Casey then hired as Mr.. john
Iston's liaison man to Congress"
While that controversy added to
the subcommittee's problems as
well as the fight over a general
Republican drive to abolish RFC,
the Senate Expenditures Commit
tee prepared to open hearings
Wednesday on another aspect of
the struggle.
Senator Taft, Republican of
Ohio added his voice to demands
that RFC be abolished. In a
speech at Charlottesville. Va, last
night, he called for complete
abolition" of the power of RFC
to make new loans.
The committee, headed by Sen
ator Mcclellan. who like Senator
Fulbright is an Arkansas Demo-
Icrat. will consider a resolution by
Senator Capehart to reject the
Presidents proposal to reorganize
IRFC by setting up a single admin
Iistrator instead of the present
five-member board Of directors.
Senator Capehart is the first
scheduled witness. Senator Full
bright and Frederick J. Lawton,
Director of the Budget, will de-
fend the proposed reorganization
An echo of a Senate foot
skirmish last Thursday came last
Evening star., 1951-03-18
nomic Sterilization Agency and

nomic Sterilization Agency and
Congress.
Despite Mr.. Casey's statement
to staff investigators that he un-
Intentionally gave some wrong
testimony at a hearing last week
the Democratic members-Sena-
tors Fulbright. Maybank of South
Carolina, Douglas of Illinois anc
Frear of Delaware-seemed in nc
mood to agree with the Repub.
licans. The Democrats favor 9
fuller inquiry. but believe il
should go beyond RFC matters
and be handled by some other
group.
Senator Bennett declared yes
terday that Mr.. Casey's position
as an aide to. Economic Stabilize1
Eric Johnston and also Mr.
Casey's fairly recent connection
with various RFC loan applica-
tons and other financial trans
actions warrant a further exami-
nation of the former Con-
gresham.
Income Tax Ruling Cited.
The Utah Senator told reporters
that he and his Republican col
leagues were interested in more
than Mr.. Casey's admission he
erred in subcommittee testimony
Mr.. Casey had said a Treasury
official gave a ruling whereby Mr.
Casey and associates paid a com.
Iparatively small capital gains ia,
instead of an income tax on big
profits from sale of ships pur.
chased from the Maritime Com
mission.
"I also want to cross examine
him because former Economic
Stabilizer Alan Valentine said in :
speech last week that he wa
forced out last January because III
could not get along with the Whit
Evening star., 1951-03-18

LOT WHOM arrest warrants naV(
been issued.
Both 1t. Carper and Boyd M
Martin, area supervisor of tn,
Bureau of Narcotics, said the rinl
was a loosely-knit group of drus
peddlers with virtually no organi
zation.
! A force Of Is men has been in
vestigating narcotics peddlin,
here since last July, when Fedora
Narcotics Commissioner H.
Anslinger ordered Mr.. Martin t,
track down reports Of drug &C
|tivity.T
Among the 16 were two under
Icover men who were inducted int,
the Army last November and as
signed to Fort Eustis, near New
port News. Va. Army official
there had asked for an investiga'
ton of narcotics traffic amons
base personnel.
An important lead to the drus
ring came from Pvt. James Rob
erts, jr.. colored, son of Jane,
(Jim Yellow Roberts, convicted
narcotics peddler. The two un.
dercover men became friendly with
Pvt. Roberts at Fort Eustis and
posing as drug users, succeeded
in getting him to establish con.
tact for them with peddlers il
Washington. police said.
1t. Carper said Pvt. Robert.
had been transferred at polio,
request from Fort Meade, Md, tt
Fort Eustis. after a narcotics raie
here disclosed he had connection.
with drug peddlers.
Drugs Kept in Can.
Among the contacts introduced
to the undercover men by Pvt
Roberts was Marion F. (Sugar.
FOOT Green. 33. colored, who lived
at the Dunbar Hotel. Green wa.
arrested yesterday after an under
cover man had made a $50 pur-
chase of heroin from him.
1t. Carper said Green usually
kept his supply Of heroin and
marijuana in a large tin can
which he hung by a string out OF
his window. In case of a raid. he
could cut the string and dispose
of the evidence. However. raiders
made the arrest before this could
be done.
Mr. Martin said more arrests
could have been made If his Of
flee had had more money with
which to make undercover pur-
chases from peddlers.
He said the raids were designed
to capture "the vermin who have
been selling heroin and marijuana
to Army personnel and teeli-
ayers" He emphasized. however
that by teen-agers he meant ju-
venile delinquents and youths of
school age who were not in school
and run around the streets all
night"
He said there was no evidence
!of narcotic addiction among school
students in this area.
Trading Post Raided.
Mr.. Martin said he could not
estimate the yearly business done
by the suspects. and refused to
say how much had been spent
in making buys" by his under
cover agents.
Among the eight District places
|raided, police said, was a basement
apartment in the first block of
street NV. which was set up as
"a trading post" for. addicts. To
this place. 1t. Carper said. addicts
brought merchandise which they
had stolen to trade for narcotics.
It also was distributing house
for lesser peddlers. he said.
Not counted In the total arrests
Evening star., 1951-03-18
Director Cosgriff Defends RFC
AS Essential to u. S. Economy
AssuiIs Privute Bunks
As Unwilling to Meet
National Credit Needs
By Martin S. Hayden
North American Newspaper Alliance

Assailing the privately-owned
national banking system for fail
ing in its job" Reconstruction
Finance Corporation Director
Walter E. Cosgriff yesterday
called for a house cleaning of
those who have abAsed authori-
| ty." He urged the continuance
tof RFC as an essential to Ameri-
can economy.
The former president of a 16-
unit Western banking chain and
the only RFC director so far I'M
touched by Fulbright committee
criticism, Mr.. Cosgriff answered
in an interview those calling for
abolition of the loan agency.
mo one called for abolition OF
the Army when Maj. Gen. Benny
Meyers went to jail" Mr.. Cos
grif protested.
The 19-year-old RFC must
continue, he contends. because
the Nations private banking syS-
tenn is either unable or unwilling
ito meet national credit needs"
Says Agency Must Continue.
"If both long-term loans and
the financing of such large new
enterprises as the Kaiser Frazer
Corp. were available in the reg
ular credit market, would favor
abolishing RFC even if Abraham
Lincoln were- its single admin
istrator." Mr.. Cosgriff said. But
private banks are not doing the
job and, for that reason, I, as q
Republican. believe the abusers
|of MISUNDERSTANDING myself, If
I'm guilty-should be turned out
and the agency continued"
To document his charge Of
banking failure. the 37-year-old
Salt Lake City banker who be-
came an RFC director last August.
cited key RFC statistics: 631. 1851
business loans totaling SIC billion
made over 10 years with only
$134 million of bad loans" and
a 5000 million net profit to the
Federal Government.
With all the scandal, the in
fuence and the favoritism." he
said, "the RFC has a loss record
of about l per cent on more than
600, 900 loans. Each of these loans
was made after the applicant
produced certifications from the
bank with which he does busi-
ness, and from one other, that
credit was unavailable. That our
bank reject loans pay out SO per
cent seems sufficient evidence
that banks are not Servicing
legitimate credit needs"
Private Banks Shun Risk.
Mr.. Cosgriff says American
bankers fail in today's obligations
because Government backed bonds
and guaranteed home loans lead
them to shun business risks"
Evening star., 1951-03-18

'of the 5400 block OF Grant street
NE. $4,000 bond; George Broadus.
23. colored, of the 900 block Of
Fifty-ninth avenue, Fairmont
Heights, Md, $4,000 bond: Morris
Fuller, 26, colored, Of the $500
block of Georgia avenue NV.
$500 bond; Paul r. Robinson,
Is. colored, of the 400 block of
v street NV. $500 bond.
Arrested and charged last night
as the narcotics roundup went
on were:
John Stevenson, %, colored, Of
the HOO block of Columbia road
NV; James Floyd Copeland,
alias pat" 35, colored, of the 600
block of Delaware avenue S.W.;
Charles Robinson, alias 1.-TWO
Bits" 43, colored, of the Dunbar
Hotel, and Winston Gorham,
alias "Cocky," 80, colored, of the
Unit block of ! st. NE.
Evening star., 1951-03-18
Pdde 70 Dq Raids

. here were the arrests of Pvt
Roberts and several other soldiers
at Fort Eustis.
i Pvt. Roberts and Pvt. Robert
, Rucker. termed an addict by Fed
!. eral agents, were charged at New
port News, Va, with possession
land sale of heroin. They waived
preliminary hearing yesterday be-
j fore United States Commissioners
y. o. Ewing and we're being held
J in the Newport News city Jail in
lieu of $4,000 bond. They are to
be removed to Washington by
United States Marshals.
i Third Soldier Also Held.
! A third soldier, Sergt. First
Glass Stanley M. Jones, So. was
shield for a preliminary hearing in
Newport News. March 81, and
l bond was set at $4,000. He was
charged with sale and possession
+ |of narcotics.
i Another Fort Eustis soldier,
) Sergt. Nathan Bolden, %, was ar
rested earlier while on furlough
in Apalachicola, Fla. Bolden was
] released under $1,000 bond at an
arraignment February "a. A date
| for his trial on charges of pos
sessing marijuana will be set to-
morrow.
Green was held on $500 bond
when arraigned before United
States Commissioner Lawrence on
charges of violating the Harrison
Narcotics Act, and the Jones' Mil
Ter Act, which forbids transporta-
Ition of marijuana. His case was
continued until March 26. At the
same time, William H. Nick, jr.,
|19. colored. of the 1400 block of T
street NV, was held on $4,000
bond, and Edward G. Betz, 80,
colored. of the 900 block of T
street NV. was held on $500
bond. Their cases were continued
uilIll Glle same Odte.
Brought before Mr.. Lawrence on
narcotics charges yesterday. in
relays of five persons each, were:
James Curry, "a, a clerk, of the
4600 block of Thirty EIGHT street
NV, held on $4,000 bond; Leon
ard A. Tozzola, %, alias Leonard
IDezala, of the 5000 block of Hanna
place Sc, $4,000 bond; Joe Pts
tone. 10. a mechanic of the
1900 block of Oak street NV,
Is2.500 bond: Gabriel D. Bo-
brow, Is. of the 1400 block of
Girard street NV, $4,000 bond;
Thomas J. Dubey. 81, of the first
block of Kennedy street NE,
81 900 bond; Jerome D. Foster. "a,
colored. of the TOO block of M
street NV. $2,5oo bond; Grace
Fountain, "a, colored, alias Mary
Lee Palmer. of the 1400 block of
Sixth street NV. $4,000 bond;
John M. Buchanan. IS. colored, of
400 block of L street S.W., $500
bond, and Richard A. Lightfoot,
%. colored, a barber. of the 1900
block Of Ninth street NV, $2,500
bond.
Also. Nellie Leach, 81, colored.
of the first block of S street NV,
So, 500 bond; Herbert w. Johnson,
33. colored, alias Buckle Jaws"
a porter. of the 1700 block of
Eighth street NV, $4,000 bond:
Walter Smith. jr.. 80. colored, Of
the first block of Rhode Island
avenue NV. $4,000 bond; George
T. Smith, 25. colored. Of the 700
block Of Thirteenth street NE,
$4,000 bond; Roosevelt Long. 40,
colored, a ,busboy. Of the 300 block
Of L street S.W., $4,000 bond:
Elaine M. Thorpe. %, colored, of
the 1700 block of Corcoran street
Evening star., 1951-03-18

Business that could have goi
private credit in 1910 are today
denied it," he said. 'Kaiser-Fra-
zer is an example. Kaiser came to
the RFC for $66 6million, first. be-
cause big banks that could have
made the loan listened to his COM
petitors who did not want it made
and secondly, because it was sim
pier and safer for them to put
their cash in Government sure
things
This typifies a fundamental
change in a banking system which,
until the 1930s lived off the in
terest from business loans. In
the last 20 years bank deposits
have multiplied and. simultane-
|ously. Government bond issues and
guaranteed mortgages have Of
fered profitable and sure invest
ments."
The result. said Mr.. Cosgriff. is
that American bankers have
turned their backs on the business
loans with which America was
built"
II am against wild banking" "
he insisted. "but the pendulum
has now swung too far to the
conservative side"
The RFC director agrees with
the Hoover commission that Gov
ernment guarantees of business
loans. similar to FHA insurance
of home loans, would be better
than direct Federal advances to
private borrowers. But he added:
Bankers Groups Kill Plan.
Every time definite business
loan-guarantee plan is advanced" :"
he said. "the American Bankers
Association and other powerful
groups kill it in Congressional
committee.
Since its 1882 birthday, the
average" RFC loan has been for
$4,000, and 10 out of every 20
loans made have been for less
than 100000, he said.
1.-THE Commerce Department
counts 100000 so-called small
businesses. Our record of 500, 900
small loans means we have helped
one out of every six of them at
some time or other"