OCR Text |
Show Bi BANKERS KEET I TO PLftH AID l FOflSTii'fffl: Pool of $30,000 000 Proposed To Relieve Conditions in Great Industry CHICAGO, Nov. v. Banker of I Q . Cliir;ipo and other cities met here to-J day to complete arrangements for the, H formation or a $30,000,000 pool to I help finance the livestock industry New York. Boston and St. Lxmls banks BS will be invited to take pari ill the BT- rnngement, It was announced. 9 The conference Is the outgrowth of; Hi the plea for aid carried to tne 1. dcra) reserve board at Washington recentlj by livestock producers, packers and bunkers. The bankers said they had j decided to proceed independently since I no material aid was obtained In Wash-lngton. Wash-lngton. It ih proposed to form a corporation wlih a nominal capital, which will be B subscribed on a pro rata hasls by the participating banks. These hank.; will agree lo furul a definite maximum! ruin to the corporation foi loaning J purposes. These quotas also will be I on a pro rata basis, based upon the participating banks' capita) and sur- j Bt plus. T'i corporation, it was said, will confine lt operations to livestock' Hj producers whose loans have been call- Bf ed by the banks and who as a consc-j JSJI Quence are threatened with the ailer on native of marketing Immature stock. , George M Reynolds, president o( , W the Continental and Commercial Na- pfll tional hank, of Chicago, was mention-, l cd as likely to head the corporation. |