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Show FAVORS LIMIT ON LOANS, NOT HIGH INTEREST RATE LINCOLN, Neb., May 29. Senator Robert L. Owen of Oklahoma, In an address to a merchants' club of Lincoln, Lin-coln, discussed financial conditions of the country and particularly what he said was the policy of the federal reserve re-serve banks in raising Interest rates I in an effort to check speculation. "There is an impression just now over the country that a financial panic may be coming," said Senator Owen. I "Such a thing is impossible. An industrial in-dustrial depression, however, is not at all imposible." The senator protested against what he declared to be the mistaken policy ;of the New York federal reserve bank in Increasing rates for call loans. The result, he said, was to cause alarm when it was unnecesary, "because they jdo not stop speculation, but simply j encourage the bear market." His remedy, he said, was not to raise interest in-terest rates, but to limit loans. Following Fol-lowing his formal address the senator answered a series of questions put to I him by the banker. He believed there could be no repetition of the 1907 panic brought about, he declared, by I manipulation. oo |