Business: Loans

A glum and docile crowd coagulated before one of the National City Bank's branches in Manhattan an early morning last week. Behind the bank's bolted doors and copper-framed windows employes pulled themselves tense with the expectation of rushing business, and glowed with pride at the immediate success of their President Charles Edwin Mitchell's new banking idea. President Mitchell had announced that this bank (biggest in the U. S.) would loan $50 to $1,000 at 6% interest to responsible employed persons, with no other security than their own signatures and the endorsement of two respectable friends. (All such loans to be repaid...