Business: Co-operative Credit

Since the ebb tide of Depression first set in, Wall Street bankers have united often in mighty efforts to impound the waters of deflation. Spurred on by Governor Eugene Meyer of the Federal Reserve Board, big New York banks combined again last week under the leadership of President Mortimer Norton Buckner of the Clearing House Association to launch the long-debated $50,000,000 Commodities Finance Corp. (TIME, Aug. 15). Though dubbed "the commodity pool" in its rumor stage, C. F. C. will purchase no commodities. It will conduct a financing business along strict banking lines....

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