From the CQ Researcher Archives October 12, 1923
The A.F. of L. and the “New Radicalism”
Entire Report
  1. The announcement that John L. Lewis, president of the United Mine Workers, will head a new $1,000,000 labor bank to be opened at Indianapolis, coming on the heels of the opening of the sixteenth labor bank in this country, gives a new turn to the labor banking movement which heretofore has received little support from the “fighting” leaders of organized, labor.

  2. The names of the existing labor banks, their location, the organizations behind them, the dates on which they were opened, and their approximate resources are given in the following table:

    Washington, D. C. Mount Vernon Savings Bank May 15, '20 $2,969,456
    International Association of Machinists      
    Cleveland, O-B. L. E. Cooperative Nat'l Bank Nov. 1, '20 24,738,972
    Brotherhood of Locomotive Engineers      
    Tucson, Ariz.-Cooperative Bank & Trust Co. May 31, '21 400,000
    Local unions and farmers' organizations      
    Hammond, Ind.-People's Cooperative State Bank

    Document Citation
    The A.F. of L. and the “new radicalism”. (1923). Editorial research reports 1923 (Vol. I). Washington, DC: CQ Press. Retrieved from http://library.cqpress.com/cqresearcher/cqresrre1923101200
    Document ID: cqresrre1923101200
    Document URL: http://library.cqpress.com/cqresearcher/cqresrre1923101200


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Oct. 12, 1923  The A.F. of L. and the “New Radicalism”

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