Schroeder Sees High Demand for College Grads in Field of Banking

There is a 'crying need' for college men in banking, particularly on the West Coast where young industries have recently sprung up," John P. Schroeder, vice-president of J. P. Morgan and Co. of New York, said last night at the Career Conference on Finance in the Eliot House dining room.

There is a secondary need for bankers in industrial cities of over 400,000 population, Schroeder said. Here banks are run by not more than three or four people, and there is a large demand for more," he added.

"Job opportunities," he continued," are excellent in the field in most areas, with the exception of large cities, where industry is already crowded and banks are plentiful."

Halimarks of Democracy

"Finance is tremendously important, because it is at the center of all affairs, whether domestic or foreign. Most companies find it necessary to be financed by stocks and bonds," stated Amyas Ames '28, partner in the investment company of Kidder and Peabody of New York.

"The hallmark of democracy is a free market," Ames declared. "The many and differing opinions and judgments of people give the investor a wide choice in making his investments," he said.

'Since Communist and Socialist countries do not enjoy a free market, they are at a disadvantage when compared to a capitalist country. Those nations are hampered by their controlled markets, and cannot make the best judgments in capital investments."

Other speakers at the Career Conference were H. R. Moorhead, Jr., treasurer of the Gulf Oil Corporation of Pittsburgh, and C. Rodgers Burgin '21, president of the New England Trust Company, who moderated, Archibald MacLeish, Boylston Acting Master of Eliot House, introduced the first speaker.