Salt Lake Telegram | 1934-04-18 | Page 18 | Credit Expansion Shows Slight Gain

CREDIT EXPANSION SHOWS SLIGHT GAIN fly CIA CLAUDE UDE A. A JAGGER Associated Press Financial Editor NEW YORK April IB 18 Credit V-Credit ex expansion p Q n s ion so long suggested preached and demanded as a lus Ius to recovery now shows some signs or of movIng but at a snails snail's pace For the past three weeks the conS con condition statements ol of re reserve rel serve member banks in 91 leading cit cities es have shown increases in corn com mercial loans Three weeks ago the gain was only the next week it was 21 and this weeks week's statement shows a bulge of I This three weeks weeks' uninterrupted ex while no of particularly im important proportions when spread over 91 cities is a rare occurrence in the record of the past three years ears Most banking experts seem to think it is too early to say whether it means I that credit expansion has really started But it il is an encouraging Smell Imen Bankers have at least been encouraged aged of late by the cessation of severe from the thc chairman of at the R. R F. F C. C and others for theIr failure to expand credit In fact bet Jc- Jc Jesse e Jones recently stated that the banks are areno arenow no now sincerely tr trying to make good loans While many financial and business statistics compared with a year ago show strIking gains this is not true of the commercial loan figures of the weekly reporting member banks Despite the gains of the past three weeks the latest statement shows a total of oC up tIP only 37 from a year previously During this perIod net demand de posits have jumped to toa a total of The biggest factor in this has not been commer cial or business financial operations but the financial operations or of the federal government