National Affairs: Number Thirteen

Until 1920 there was not in America a bank owned and controlled by labor. In less than three years twelve such banks have been opened, and last week appeared the 13th— The Federation Bank of New York, opened by the Central Trades and Labor Council and the New York State Federation of Labor. The first depositor was Governor Smith of New York; the second, Samuel Gompers; the third, Royal S. Copeland, newly elected Senator from New York; the fourth, Ethel Barrymore.