Salt Lake Telegram | 1935-11-15 | Page 3 | Bankers Break with New Deal

BANKERS BREAK WITH NEW DEAL NEW V ORLEANS Nov 15 UP UP- UP Bankers and representatives of big business have made a clean break wi with h the new e edea deal dea it w was s apparent nt today following close of ot the si sixty sixty- ty- ty first annual convention of ot the American Bankers Bankers' association Despite assurances of Robert V V. Fleming Washington newly in installed installed installed in- in stalled president of the association that the A. A B. B A. A W was J not a political organization and would not be mixed up in politics so long as he was president it was evident evident- the organization had bolted of middle the road leadership and was ready to fight the new deal openly Coincident with the break between between be be- tween the administration and the new deal dear it was announced the association was prepared to open a nationwide campaign to educate the public in the services the banks can render The break appeared wider than ever after the installation of Orval Orva W. W Adams of or Salt Lake City a as second vice president Under Under th the rotation system of office tenure Adams will become president of th the association in two years Adams is a severe critic of the new deal dea dealand dealand and advocated an embargo on government government government gov gov- bonds to stop government spending The delegates elevated Tom K Smith St St. Louis to first vice vicc presidency deney dency and the new executive counell coun council I coun-I ell cil named Arthur B. B Taylor president president president dent o 0 Lorain County Savings Saving and Trust company Elyria Ohio treasurer F. F N. N Shepherd New NewYork NewYork NewYork York City was reelected executive secretary San Francisco was chosen for the 1936 convention on motion of ot A. A P P. P Giannini west coast banking I leader