Electrical news and engineering . ials or bank directors were held responsible for theintroduction of new customers, larger salaries would have to be paidand business might be very much restricted. One of the largest banks in New York was not long ago sur-prised because the youngest director on the board promptly steppedup and paid the debt to the bank of a young merchant who had failed. The bank director said I introduced this young man to thebank for credit, believing in his ability to make a success of his busi-ness. For a time he made a very decided success and appeared to beabove the ordi
Electrical news and engineering . ials or bank directors were held responsible for theintroduction of new customers, larger salaries would have to be paidand business might be very much restricted. One of the largest banks in New York was not long ago sur-prised because the youngest director on the board promptly steppedup and paid the debt to the bank of a young merchant who had failed. The bank director said I introduced this young man to thebank for credit, believing in his ability to make a success of his busi-ness. For a time he made a very decided success and appeared to beabove the ordinary in the inteUigent handling of his business. Thencame the big shrinkage in values which swept him over. I believethe bank extended this credit because of my introduction and thoughI dont believe, generally speaking that directors should be financiallyresponsible for bank introductions, I felt I had a personal responsibil-ity in this instance, which I could not overlook. Hurrons Heekly () Til I- news ^\\W//^.
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