Word: bankes
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Dates: during 1920-1929
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...Ames-Gray Club, T. H. Adams 21, and E. S. Dillon 21, will represent the "Marine National Bank" which is trying to recover the amount of an altered check unknowingly certified by one of its cashiers, cashed by the "American Trust Company" and collected from the plaintiff bank. The defendant bank on learning of the frand withdrew the credit of the man who had brough in the check and deposited the money to his account. The criminal absconded. The plaiutiff bank credited its customer the amount of the check, and is now trying to collect with interest the money...
...Federal Reserve Bank was the target of much of the oratory, and found not a single defender. The Chairman observed that the Board of Governors of the Bank should be hanged, and would be, when the American people awoke...
Several years ago, Oklahoma initiated what she considered a valuable banking law. Western banks had shown an irritating habit of failing, and accordingly, the plan developed of having all banks in the State guarantee each other's depositors, by contributing to a common fund which should be used to pay off in full the uncovered debts to depositors of an insolvent bank. This plan spread to several Western States and was enacted into law; it was advocated by the Progressive platform...
Recent experience has left the proponents of mutual guarantee systems a little less sure of their theories. For the effect of thus guaranteeing a bank against the results of failure was to lead directly to the creation of weak banks run by inexperienced men, and to the acceptance by banks of business ordinarily refused as unsafe. Oklahoma, which gave birth to this plan, has had the bitterest experience with it. It has been found that in periods of pressure, more failures result and greater losses to depositors, than would otherwise occur. Since this guarantee plan has never been introduced into...
Hundreds of branch banks which thus came into being in States which permit them will probably not be affected by this decision. Also, the Attorney General and Comptroller of the Currency recently ruled that a national bank might open "teller's offices" in its own city...