Democrats Decide to Push For State‐Operated Bank
Dems in NYS Legis to push for creation of state bank to compete with commercial banks; plan, as suggested by Speaker Stanley Steingut, would build bank on $3-billion in govt deposits now in commercial banks; bank would be profit-seeking venture and would serve as govt 'yardstick' to measure performance of commercial banks; Steingut special asst William F Haddad claims staff studies show banks can make investments that are both profitable and socially conscious; denies state-bank plan is retaliatory measure against commercial banks for their abandonment of UDC during recent financial crisis (M)

