U.S.A. BANKS
MB HOOVER’S PROPOSAL. [BY CABLE —PBESS ASSN. —OOPYBIGHT.] WASHINGTON, November 14. President Hoover announced that he will recommend to Congress the establishment of a chain of twelve privately-financed home loan discount banks with a capital of 150 million dollars, with a credit to the value of
1800 million dollars, by which he said, it was hoped to prevent the repetition of the present conditions by relieving the strain upon the sound financial institutions as well as the farm owners and home owners, and also to place the institutions lending on mortgage in a position to assist in a revival of home construction, and to support the loan institutions in the promotion of home ownership. *
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Greymouth Evening Star, 16 November 1931, Page 5
Word Count
116U.S.A. BANKS Greymouth Evening Star, 16 November 1931, Page 5
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