Sauciest exponent of rugged individualism is John M. Nichols, president of small First National Bank of Englewood, Ill. which boasts 100% liquidity (cash & Government bonds). When breezy Banker Nichols heard last year that National Bank of Commerce of Houston, Tex. was 80% liquid, he wrote to RFChairman Jesse Jones who controls the Houston bank: "Atta boy. Keep up the good work. At the rate you are going it won't be long before we are both 100%. While you are crooning the rest of the bankers into supporting floundering industry, you and I can...
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