Indianapolis Times, Indianapolis, Marion County, 13 May 1948 — Page 21

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‘Warned Against New

Bankers were urged today to apply their own restraints to expanding credit rather than wait tor government regulations by Kenneth K. Du Vall, president of the First National Bank, Appleton, Wis. or convention of the Indiana Bankers tion, My. Du Vall said pankers should weigh loan applications in the’ light of their effect upon supply and demand. “If supply is accelerated,” he said, “the loan deserves priority, | but if demand is accelerated—or supply decreased, the loan should be. discourageds”” Credit Rise Checked Mr. Du Vall sald bankers al-| ready have checked the rapid rise of credit but signs indicate that the biggest fight ‘against, over-extended credit lies ahead. | Between January of this. year and January of 1947, bank. loans increased 21 per cent and commodity prices increased 17 per cent, but physical production moved up by only 3 per cent, the

er said. f “The incréase in bank credit in 1947 added to available purchas-| ing power, but evidently did not result in larger production.” { Credit can be expanded by at feast’ five times. the. amount..ofreserves required, he pointed out, warning bankers to make their loans in the light of their effect

Breakdown of Figures Charles H. Buesching, Indiana chairmai of the American Bankers Association Treasury savings bond committee presented a breakdown of the federal debt structure. f Yesterday, Lewis F. Gordon of Atlanta, Ga., told fhe bankers they would have to continue to expand their services for the little depositor and view their businesses from the aspect of dealing with the masses. f Robert D. Mathias, president of the association, of Evansville, gave his report and urged higher pay for bank officials and em-| ployees, benefits for employees comparable with other industries. Eight Are Elected |

Eight were elected to offices in| the American Bankers Associa-| tion in the afternoon. | To the ABA executive council for-three- years: 'W. 'W. Gasser, | Gary; Arch C. Voris, Bedford; to the ‘nominating committee, Otto Frenzel, Merchants - National Bank, with R. D. Mathias, retiring

head of the IBA as alternate, ||

Four state divisional ABA vice presidents are: C. E. Price, La Porte; Donald B. Smith, Kokomo; Maurice C. Riley, Bloomington,’ and Darnell D. Mahorney, Crawfordsville, Dr. Claude IL. Benner had told the bankers in the morning that a 52 per cent increase in American production over the pre-war level would cut off the threat of inflation by 1950. ! Howard E. Nyhart of the Howard E. Nyhart Co., Inc, gave a talk on insurance plans for bank employees. Other speakers scheduled today were - Norman IL. McCready,

51st annualy |

ROPER GAS RANGE

188.25 New 1948 Model With Staggered Top

BOL 130 0 BST Li AR

Come canning season you'll love the staggered top thet permits easy arrangement of oversize vessels. See the big 3-in-1 oven, streamlined lamp, builf-in timer. Top burners are simmer-spéed, automatically lighted.

Apartment-Size HARDWICK

- pension-engineers R:H:- Bauman;

farm economist, Purdue Univer- | sity; Leroy Piser of the First Boston Corp., New York City; Gov. Ralph F. Gates and Tom Collins, humorist and vice presi-| dent of the City National Bank & Trust Co., Kansas City, Mo.

Gas Firm Reports |

$19,500 Net Income

Net income of $19,500 was re ported for the first quarter of 1048 in the report filed with the City Controller by Citizens Gas & Coke Utility. The net income figure was after. Provision for bond retirement. It represented a drop of $48,702 rom... the. net... income. figure. of. $68,202 in the last quarter of 1947. Net income in the first quarter a Year ago was $357,262.

day | the

Gas consumption, the utility re- | .

ported, was 3,082,555,000 cubic feet, compared to 2,341,154,800 in the previous quarter and 2.843. 314.100 in the first quarter of 7. . Utility officials explained the drop in net income and the in-| Crease in consumption by “increased operating expense.” Total revenues for the quarter were $2,003,874, compared to $1,699,342 in | the same period a year ago,

Long Underwear's Hot; Pull Holdup for Shorts

NEW YORK, May 13 (UP)-— Two men walked into Sam Kirschners haberddshery yesterday, mopped their brows in New York's 82-degree heat and remarked it Was time to take off their long underwear, Mr. Kirschner laid out $23 Worth. bf shorts, Suddenly the men produced revolvers, took the &horts, also $85 from the cash register and left, still: complainIng about the heat.

—_—

84.50

2 Giant, 2 regular top burners, lift-up top for easy clean. ing, full-size oven, roll-out smokeless broiler, newest oven control. '

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16-QT. NATIONAL COOKER-CANNER

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12-QT. NATIONAL COOKER-CANNER

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OSTERMOOR SLEEP COMFORT MATTRESS

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