Word: crediteer
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Dates: during 1930-1939
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...General, he told President Roosevelt of his travels through 17 countries on his westbound journey home. ¶ President Roosevelt proclaimed Oct 8-14 as Fire Prevention Week. ¶ To the American Bankers Association convening in Chicago the President sent a message exhorting its members to loosen up on commercial credit to help along the NRA drive. ¶ President Roosevelt got a business letter last week from the son of President Cleveland. As counsel for the Individual Brand Petroleum Association, Richard Folsom ("Dick") Cleveland, famed for the great revolt he led against the Princeton Club system two decades ago wrote...
Married. William Forbes Morgan, 49, Farm Credit Administration personnel director, uncle by marriage of Mrs. Franklin D. Roosevelt; and Sarah Jackson Coonley, 23, daughter of Secretary Robert Jackson of the Democratic National Committee; in Washington...
...banks of 101 leading U. S. cities had $9,000,000,000 in loans (other than loans on securities) outstanding. Today a similar group of banks with $15,000,000,000 in deposits have less than $5,000,000,000 in such loans. Willing enough to give short term credits but reluctant toward long term loans, banks have used their funds buying $2,000,000,000 additional government securities. To the convention was read a message from President Roosevelt saying: "I want you to know that we rely on your organization for its co-operation in furthering the free flow...
Specifically he cited a case that had come to President Roosevelt's attention: A firm with a $150,000 order from U. S. Steel Corp., and no credit available to fill it. "Such a circumstance is a travesty on banking. ... I could cite hundreds of cases . . . cases where a way could be found if a real interest is taken by the banker...
...will add that neither should we permit it to become a football for politicians. . . . We [Brooklyn Trust Co.] made an analysis of all applications for business loans ranging from $2,000 upwards received during the first eight months of this year. . . . We found that the demand for business credit had shrunk 50% from the corresponding period in the preceding year-which was itself a slack period. We also found that we had granted 81% of all the business credit applied for. ... I want to suggest that other bankers analyze all of their policies ... be prepared to answer critics with facts...