| Show VETERAN LOANS CAUSE CAUSE- INQUIRY Three Sided Discussion May Ia Help Clear Up Situation The Tho First rational National banI bank or of It 1 ass s learned to h milking making loans loan to war veterans tra on fill their Ui lcd lc I service ctr certificates II fI aC 05 Wo are riot not lend lend- lendIng lending lending ing to CI i or 01 strangers llio the Iho bunk bank leI Aid hut l t are nrc taking care of Itc ex men whom hon wo 1 e know now or arc ro connected connected M lIh the tho firms with lIh which we c weare are arc doles doing 1 WASHINGTON WASHINGTO-J JanEy Jan Ey By EyThe ByTh The Associated Ire War Press War War vet vet- veterans vet crOons erans are arc learning more each day about their prospects for obtain obtain- obtaining Ing loans on their heir bonus insurance ance certificates General ret refusal 1 of Df banks to rec- rec recognize this backed government o 20 year 20 year paper as IlS collateral security for tor small IDan loans has precipitated a discussion among the tho th three agencies most Interested the tho American association the tho American legIon lc lon and the th vet vet- veterans vet veterans erans bureau which presages at least an In earl early clarification of ot the question A bill also has been Introduced In the tho th house houss to te authorize the vet vet- veterans veterans vet veterans erans bureau which now must mak make good to the banks an any un- un unpaid unpaid un unpaid paid certificate loans to loan IDan money direct to the th policy hold hold- holders holders ers Mrs Edith Nour c Rogers Ro ot of Massachusetts author of the bill said she sho way was motivated 1 by a II de- de de I Isire sire to aid the th h hundreds ot of vet vet- vet et eran crana who have been tur turned ed down n donby by the banks banka MONEY MOXEY ON OX HAND Director Hines Hes of Dt the th bureau who is now DOW lr Ir New York advis- advis advisIng advising Inc Ing with bankers on the situa situa- situa situation situation tion holds that the bankers attitude at- at at has been beell due du to a II general lack lac of ot Information although he explains that the te law permits them to use us their discretion in all nil cases and to grant rant loans only where they believe bellee they are Me needed He H has Informed the bankers I there that til's bonus certificates are the th sam same sami a as paid up Insurance insurance anc ance policies with a commercial value and hav have the th same loaning privileges privilege Loans not met le he says are arc redeemable within six months with accrued Interests at atthe atthe the veterans bureau which has hus sufficient funds tuns available to cover a per c cent nt default It if necessary necessary sary and sua have lave a surplus An appeal by the th American le- le legIon legion le gIon to the bankers l of the th coun coun- country coun- coun country country try to adopt a 3 liberal altitude to- to toward toward to toward ward the ins veter-ins ns brought a re- re reply reply re reply ply Tuesday right from Melvin MelvinA ln lel A Ta Taylor president of the th Amer Amer- American American ican kan Bankers association declaring InK ing fear tear ot of red re tape tap In collections on defaulted loans and doubt as asto asto asto to the th proper Identification and signature has hus caused bankers to hesitate to make mke tk m-tk loan loans loam freely on the he Mr Taylor had ad been Jeen aSKe l Oy J onn ay- ay lor legislative representative ot of the legion I lire litre re to remind the members ofIe of tie tle American Bank Bank- Bankers Bankers ers association n that they should not soon forgot forgo tors the sacrifices of Df these men I eight ht short years ears ago from which our among others were the lb I POINTS Is Js that the govern govern- government ment will be hypercritical on the Question of signatures and identification Identification the th bankers head saId In reply adding that this in hIs opinion was the deterring tac- tac factor tor lac-tor tor rather t than 1 n the tho th question of slowness of payment 1 or Dr tying up of funds fund If proper authorities can give the publicity on this point he asserted I am sure sur the attitude ot of tho Uto banks in general will be b entirely favorable |
