Word: bankes
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Dates: during 1930-1939
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...Frank Finley Merriam had stayed in Iowa where he was born 68 years ago he would have been spared a lot of trouble last week. He taught school, published a newspaper, gravitated from the Midwest to Long Beach. Calif., became a bank president, a realtor, a Knight of Pythias, a politician, and six weeks ago upon the death of James Rolph Jr., Governor of California just in time to face the best brand of California dynamite?a strike...
...Since Depression, many a State Banking Board has stopped asking for reports of condition from state banks. New York's Board has not issued a call since late in 1932. But not until last week did the Federal Government officially presume to ask a solvent state bank for a report of condition. Then it requested information of deposits, loans, assets and liabilities as of June 30 from 7,567 state bank members of the Federal Deposit Insurance Corp. It sent out a similar request to Federal Reserve Bank members. When the reports come in, the Treasury will have information...
...Last week Boston's biggest bank, First National (assets: $694,000,000), celebrated a sesquicentennial. In 1903 First National merged with the Massachusetts Bank which was founded in 1784 by six bewigged gentlemen-patriots who, admitting that banking was "quite novel to them all," wrote to the Bank of North America in Philadelphia for advice. James Bowdoin, Governor of Massachusetts during Shays' Rebellion, was first president, Paul Revere an early depositor. Unlike Manhattan's Bank of New York & Trust Co. which has merged only once in 150 years, First National has absorbed through seven mergers the businesses of 46 banks...
Mayor Charles O'Brien of Peoria, Mayor W. O. Summerfield of East Peoria, Illinois' Representative Everett M. Dirksen and a thousand people crowded around the little Fond du Lac State Bank in East Peoria one morning last week. Inside, before the bank opened to the public, a scrawny bespectacled widow in a cotton dress marched up to a cage marked "CASH F. D. I. C. ORDERS HERE," posed for photographers. In her hand she held a check for $1,250, her life savings, which W. Kenneth Hayes behind the counter had just given her. "I don't know...
Thus for the first time did the Federal Government begin paying off depositors in a closed bank under the Federal Deposit Insurance Law. Glutted with frozen paper on city real estate and business loans, the Fond du Lac State Bank closed late last May owing 1,789 depositors $241,412. A month ago its insured deposits were turned over to FDIC when the directors failed to agree on plans for a reorganization. Ninety-nine per cent of the depositors will be paid in full. Under the Temporary Insurance Plan (guaranteeing accounts of $2,500 or less), $125.000 of the bank...