Word: chairman
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Dates: during 1930-1939
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After the broad Neutrality debates were finished last month, Chairman Key Pittman of the Senate Foreign Relations Committee asked the State Department whether an embargo on U. S. war materials for Japan would violate the treaty of commerce and navigation which has bound the U. S. and Japan since 1911. The State Department said yes, whereupon alert Republican Senator Vandenberg, well aware of popular sentiment against continued winking at Japan's war in China (and war against Occidental interests there) offered a resolution to denounce that treaty, giving six months' notice as provided in its articles. After...
Naming no names, Bank Overseer Crowley let off a blast against the things he believes are responsible for this condition: against the views of Federal Reserve Chairman Marriner Eccles that bank credit and investment policies should be liberalized to suit Administration policy; against banks which have increased dividends (from $187,595,000 in 1934 to $221,904,000 in 1937-38) faster than earnings warranted. In December 1934 when commercial banks' deposits amounted to $38,996,340,000, capital stood at $6,151,567,000. At the end of last year when de posits had increased...
Certainly no new capital is now going willingly into the banking business, which can hardly earn a living at present interest rates. Chairman Crowley proposed to prepare against future crises by boosting its rate of assessment against insured bank deposits. This would of course further reduce bank earnings, further reduce the chances of getting any new capital into the banking business...
Last week the Senate Banking and Currency Committee put new Federal Loan Administrator Jesse H. Jones on the carpet, asked him about the success of Federal lending. To a query about the amount of losses on RFC loans to business, the retiring RFC Chairman admitted: "I am ashamed to tell you what I think it will be. It will be plenty...
That admission became the headache of tall Emil Schram, 45, who became Jesse Jones's successor as RFC Chairman. A successful Hoosier whose business was farming, timber, coal, he was made a member of RFC's board in 1936. From handling RFC loans to needy drainage and irrigation districts he was graduated to manager of RFC's business loan program. On the side he ran Electric Home and Farm Authority (set up to finance the sale of electrical appliances to home owners). One of the most capable members of RFC, his selection was backed both by conservative...