Indianapolis Times, Indianapolis, Marion County, 27 July 1936 — Page 11

Asks Bank Study Be for Benefit of Public. :

BY JOHN T. FLYNN ceed YORK, July 27.—Mr. Lan-

: report diff in : filling $20,000,000 of contracts on hand because of the scarcity of skilled sheet metal men. Boeing School of PAGE Aeronautics has started a training course in this craft.

SWINE VALUES GETS LOCAL TERRITORY MOTOR SHARES i PACED MARKET

MONDAY, JULY 27, 1936

New, York Stock Exchange

FRE THT

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: don apd the ranking Republican member of the House Banking Committee have paused for a

first was the Glass-Steagal Act of 1933. The second was the Act of 1935. The first established the guaranty of bank “deposits and made certain important reforms in banking practice. It sought to demobilize bank affiliates and to subject bank holding companies to some form of control. It prohibited in- . vestment bankers from serving on bank directorates and put some limitations on bank loans. " ® “ HE second act—that of 1935— made important changes in the Federal Reserve Board, It will be recalled how big’ business and bankers fought that act. Its ob-

“ ject was to give the government

more power over the credit and money control features of the Reserve system. It also made certain r changes in loan practice. : 1933 the banks—or most of them—have been reopened. They have been functioning free of fears. Their deposits have increased. This has been due to the great amount of government financing which has increased bank depostis. Also the deposit guaranty feature removes all fear of Jbanking trouble. And, of course, the worst .banks were wiped out and the bankers that remain have been chastened by their sins of the twenties. = 2 ® 3 LL this has given the appearpearance of a great bank reform. The truth, however, is that, ok to produced, many, the grave banking weaknesses of the twenties still remain. But if the much-needed, thoroughgoing reorganization of our banking system is to be undertaken, whom should be entrusted with the task? Mr. Landon’s conferee gave out that he favored a “nonpartisan” commission. This word “non-partisan” is a much abused word. It means really not nonpartisan but bi-partisan. But what . difference whether the commission ‘is made up of Republicans or Democrats or both, if the members are closely identified with the banking and business fraternity which uses the banks for its own pur pur-

to the public interest. (Copyright, 1936, NEA Service, Inc.)

- On Commission Row

< tations below, subject to change. $Quos holesale vy hejog Sffered

aloups— Watera, Ibs. . Peaches— s, 2% in. bu. $2.85. Apri-cots—135-1b. , 88. ums—Blue, 4 a crate, $1 2.25: Yellow, [email protected]. T™ Se . $3.35.

melons—Geo

less, 25-1b crate 'ABLES—Beans— Mringless (hamper). $2.25. Beets—_Hume grown, 4 . a A

FOUND AT PEAK FOR FIVE YEARS

~ Qutiook for Summer Is Undimmed. CC —

~Pighting the drought, heat waves and numer-

i- "ustry, which rose to 71 per cent of capacity for the week. There * re sufficient backlogs of orders to

for ships under construction in the

ter of 1936. “Electric power output attained a new all-time for the week ended July 18 with its 2,100,000,000kilowatt? hour. Electrical equipment manufacturers were disturbed by a persistent lack of orders for new ting equipment. They felt it unlikely that the public utilities can meet peak load periods in 1937 with their present capacities and that some companies may find themselves in a precarious position by the end of the year.

manufacturers of asphalt roofing Materials, it was today an-

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weighing from 130 to 160, and $9 to $9.75 on the 100 io 130-pounders. Packing sows were salable at $825 to $9.25. Shipments of swine were estimatat 3500 with 686 holdovers.

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day. He is to serve as the Thor servige | engineer in Indiana, northern Kentucky and eastern

Illinois. He replaced Edward |

Slattery who was assigned to the Calumet area. Mr. Hopping graduated from Technical High School in 1929 and studied in Purdue, Indiana and Chicago Universities. He has been in Chicago the last two years with the Independent Co."

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