Archive Report
Archive Report
- 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.
- 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 Oct. ...