Word: bankes
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Dates: during 1930-1939
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...court record of my trial gives the following evidence: In the Petroleum Producers' Association, of which I was president and with 22 other officers and assistants was on trial, the following facts were admitted by the Federal Bank Examiner...
...main streets. The ten-mile residential island in midriver was totally submerged. Police ferried 6,000 citizens in rowboats to dry land. Thirteen people were drowned, four killed when a gas explosion blew their house to bits. Surging through the streets of West Virginia and Ohio towns on either bank, the crest rolled on toward Cincinnati and Louisville. But most downstream Ohio River cities, forewarned, experienced and well fortified with dikes and levees, viewed the flood with small concern...
...took in $18,000,000 on its bonding business, made nearly $2,000,000 profit on investments, paid $1,500,000 in dividends. Meanwhile it had also gone into the business of guaranteeing real estate mortgage bonds and Federal, State and municipal bank deposits...
Depression sunk National Surety Co., not because thieving employees became more numerous but because bank failures and defaulted real estate mortgage bonds became so common. In May 1933, National Surety Co.. awash with $45,000,000 worth of guaranteed real estate mortgage bonds, went into the hands of George S. Van Schaick, at that time New York State Superintendent of Insurance. The Company was then succeeded by the Corporation. Directors & management of the Corporation bore a strong resemblance to directors & management of the Company,* but the Corporation abandoned the business of guaranteeing mortgage bonds and bank deposits, went back...
...fidelity business of the company consists of bonding employees. The foregoing quotations in italics are from a "sales kit" used by National salesmen to convince employers of the necessity for bonding employees. One harrowing case history tells of a bank with deposits of $101,000 from which the cashier stole $93,000. Another told of a publishing-house cashier, a "weak, vacillating individual dominated by an extravagant wife," who stole $67,490 to keep up his social standing. Salesmen are instructed to emphasize the dangers of under-bonding, to cite the case of a tobacco company cashier who was bonded...