The President of the United States has asked the bankers to renew their confidence in the people of this country—and the Morris Plan Industrial Bank demonstrates such confidence with more liberal credit, making it easier to borrow and easier to repay—
You can borrow now any sum from $200 to $5000 for one year, and repayments do not start until three months later.
As a result of this new plan, the volume of Morris Plan loans has been steadily increasing. This means thousands of new applicants have been answered with loans, which have helped them personally and in total helped put the wheels of machinery again into motion. These loans have been instrumental in sending thousands of people back to their jobs, to earn and to spend—to purchase those things they need for their families, for themselves, for their homes. Do you need money? You can borrow from $200 to $5000. You get the money quickly; at your special request you can obtain the cash within 24 hours. You can select the loan plan which best suits your purpose.
If you have collateral, such as stocks and bonds, life insurance policies, trust funds, government bonds or other marketable securities, we will be pleased to appraise their value without any obligation to you whatever. On marketable stocks and bonds we endeavor to place a higher loan value than is generally available elsewhere.
If you have no collateral, you can borrow money on your own signature and on the signatures of one or more relatives or friends who will vouch for your good character and repayment of the loan.
Charges vary according to the kind and size of loan you obtain. The rates become smaller as the size of the loan increases. All charges are the regular industrial banking rates established by the Banking Laws of New York State.
Make use of this new liberal method of helping you in your business, to improve your home, to clothe your family and yourself, to adjust your financial difficulties. The Morris Plan is ready for you with its huge resources—ready to help in bringing back prosperity in the land and to each individual.
There are twelve Morris Plan branches within and near Greater New York. In addition to the 7th Avenue bank and the main office at 33 West 42nd Street, there are four Morris Plan branches in Manhattan, three in Brooklyn, one in the Bronx, one in Jamaica and one in Yonkers. Listed below you will find all the addresses. There is a convenient Morris Plan branch near your home or place of business.
3% ANNUALLY ON DEPOSITS
The Morris Plan Bank of New York has established an unexcelled record for safety. Our depositors have always found their money ready in full when needed. Even after the historic banking holiday of March, 1933, no restrictions were placed on withdrawals and everybody who asked was given their money 100 cents on the dollar. Recognizing this splendid record, the National Congress specifically named Morris Plan Banks as eligible for membership in the Federal Reserve System and this bank is now a member of the Federal Deposit. Insurance Corporation. This latter membership means deposits in this bank are insured under terms of the Federal Act. The three percent per annum which is paid on deposit accounts by Morris Plan is the highest rate of interest any bank may pay in this state and still enjoy the protection of this deposit insurance.
MORE THAN $100,000,000
has passed through the Garment District Branch of the Morris Plan Bank
The Morris Plan feels proud to have had such a large share in the development of the clothing center—the largest in the world. Years ago when Morris Plan opened its branch at 7th Avenue and 35th Street, the clothing industry was by no means as great as it is today. From the financial assistance of Morris Plan many have laid the business foundation upon which in time, grew and developed into scores of important firms.
Manufacturers and workers in the needle trades will find this convenient Morris Plan branch ready and eager to serve them in all their financial needs. Drop in at any time. You will be received cordially.
LET MORRIS PLAN COME TO YOU
Manufacturers who find it inconvenient to visit Morris Plan, need but telephone our manager, Mr. Lingane at 7th Avenue and 35th Street (Phone: Lackawanna 4-9550) and he will call on you personally and make all necessary arrangements for your loan—in strict confidence of course. Or arrangements can be made entirely by mail.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
