Show NATIONAL BANK LOAMS Proposition to Amend the Law So as to Permit Loaning of Funds on Heal Estate Washington Dec Representative McCIoary of Minnesota has addressed the following letter to some 23CO persons representative rep-resentative Inca In each Stato and Territory Terri-tory lu the Union It has been suggested to mo by several sev-eral gentlemen interested In national banks and desirous of rendering them as useful as possible to the communities In which they are located that It would howell ho-well to amend the national bank act so as to permit national banks In tim smaller small-er places where the clientele of the banks Is largely rural to loan a portion of their resources on real estate security If the proposition seems wise to thoso Who have practical knowledge of such matters I may Introduce a bill after tim holidays providing for the nrVlcndmcnt With that In view I desire tho benefit of your judgment In the matter and I will appreciate an early answer to the followIng follow-Ing questions First Do you bellcv < that such an amendment will bo In the public interest If BO why If not why not Second If your first answer be affirmative af-firmative where would you draw the lute between those national banks that may and those that may notmake such loans Would you make tho capitalization of the bank or the population of the town where the bunk Is located time basis of Mieh classlileatlon Why Third Just what percentage and of what would you specify In the amendment amend-ment That lg l would you grant the permission per-mission as to a certain percentage of Ito capital oC tho bank or as to a certain percentage of its loanable funds Why Suggestions running from 23 nor cent to 4 per cent of the capital or the bank have been made Fourth Would you limit the operation of the amendment to farm Ioan or would you Include town property 2 Why Fifth Would you permit loans under the amendment on first mortgages only or would you permit such loans as meet the approval of tho board of directors Why 7 Sixth Would you require all loans under un-der the amendment should haVo the approval ap-proval of the directors before bolng mado Why Seventh ITavo you any other suggestions sugges-tions as to tho proposition of an amendment amend-ment If It should bo mado Eighth Aro you willing to have nm quote you on the above points in any remarks that I may make on lie subject sub-ject |