Word: alvah
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...servants. As a device to raise cash Mayor Anton Joseph Cermak with Board Chairman James Simpson of Marshall Field & Co. tried to sell $36,000,000 of "tax anticipation warrants." Few investors bought. For a third of the district's real estate tax is delinquent already. Banker Melvin Alvah Traylor scoffed: "There just isn't any market, and there isn't going to be. Any trustees today that would buy those obligations . . . would be guilty of bad faith...
...road to Milwaukee. Mayor Anton Joseph Cermak (whose city last week was $5,000,000 in salary arrears) rushed to Lawndale State Bank to assure depositors that their bank was sound. When a run started on Chicago City Bank & Trust Co. (in Englewood on the South side), Melvin Alvah Traylor of First National Bank said his institution would guarantee that Chicago City Bank's depositors would be paid. Impatiently he added: ''They need a bank. If the people of that community want to wreck their own bank, they can go ahead." Chicago Bank & Trust was not wrecked...
...Chicago would take over the assets of the Foreman institutions. To protect First National against loss, the Clearing House guaranteed a $10,000,000 indemnity fund, Foreman stockholders posted an additional $2,550,000. Yet even so the deal required courage and hero of the conference was Melvin Alvah Traylor, First National's able & active president. After the deal, First National will have resources of $883,000,000, ranking it as second in Chicago to only the $1,122,000,000 Continental Illinois...
...grapple was exciting. Officially it was termed the Sixth Biennial Congress of the International Chamber of Commerce (I. C. C.). Grapplers for the U. S. included President Hoover, Secretary Mellon and two vigorous Chicago citizens, Lawyer Silas Hardy Strawn, Chief U. S. Delegate to the Conference, and persuasive Melvin Alvah ("Mel") Traylor, president of Chicago's First National Bank, famed for his able work in setting up Europe's Bank for International Settlements (TIME Sept...
...Melvin Alvah Traylor, First National of Chicago: "Employers must be as quick to recognize the real wage (based on purchasing power of the dollar) in a rising market as labor must be to recognize the real wage in a falling market...