Word: bankes
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Dates: during 1930-1939
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...career as lawyer and banker brought him to Temple's board of trustees where Dr. Conwell spotted him as a likely successor. After his election Dr. Beury tried for a while to be both president of Temple University and board chairman of Bank of Philadelphia & Trust Co. In 1930 the bank was merged with Bankers Trust Co. of Philadelphia and Dr. Beury stepped out of the chairmanship. Few months later, Bankers Trust went down with a resounding crash...
Engaged. Richard King ("Dick") Mellon, president of Pittsburgh's Mellon National Bank, nephew of Andrew William Mellon; and Mrs. Constance Prosser McCaulley, daughter of Manhattan Banker Seward Prosser, widow of Vance McCaulley, who was found dead in his Manhattan apartment last autumn, supposedly a suicide...
...nearly every gathering they have attended in the past year U. S. bankers have been admonished to enliven their publicity, redouble their educational efforts, explain their services & operations to the public. In the last fortnight two banks have made newsworthy publicity. Union & New Haven (Conn.) Trust Co. began publishing a monthly called A Pepys Diary of Banking, a day-by-day account of the institution's routine. Sample entry: "Regular meeting of the trust committee. The Trust Company's own bond account reviewed; market value on Dec. 31, 1935 substantially exceeded book value. . . . Purchases and sales of more...
More surprising was the other bit of publicity, for it emanated from Manhattan's fabulous First National ("The Baker Bank"), an institution whose able management has never thought it necessary or dignified to tell the public anything. In a sudden confidence President Jackson Eli Reynolds announced that First National's list of stockholders has increased by about 1,000 in the last year, now numbers 4,500. Of these some 1,400 held only one share each...
...President Reynolds' comment: The number of one-share stock holders exceeds the total number of depositors. With deposits of $479,000,000, First National has less than 1,400 depositors, showing an average balance of at least $300,000. Fact is, First National is primarily a bank for other banks and big corporations...