Word: bankes
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Dates: during 1930-1939
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Technically it belongs today to every American citizen who deposited his gold with his bank, but hardly anybody asked for a receipt and it would be difficult to find out just who deposited gold and gold certificates. Also it would be regarded as unfair to pay a profit to those who by accident happened to possess gold certificates in March, while the rest of the country used other legal tender currency...
...George A. Ranney, once International Harvester treasurer, now acting as vice chairman and clean-up man of the ex-Insull Commonwealth Edison Co. of Chicago, who had been invited to chairman Chicago's Continental Illinois National (TIME, Dec. 25), last week wrote a letter to the bank's directors disclosing that: 1) the Federal Reserve Board had given approval for Mr. Ranney's election; 2) the RFC had been asked by letter for similar approval but had never answered. It was so evident last week that the RFC intended to put in Chairman Cummings of Deposit Insurance...
...State Court in Manhattan the Federal Government filed an unprecedented suit to compel the 20 banks of the New York City Clearing House to pay $9,375,000 for losses of the defunct Harriman National Bank (TIME, March 27). The Government's contention was that when during the dark summer of 1932 officers of the Clearing House promised to support the Harriman, it bound members of the Clearing House to pay any losses to Harriman depositors. To this Clearing House officials retorted that the Clearing House did not and could not give such a guarantee, that the directors...
...wholesale retirement of directors took place from nearly all the big banks of the U. S. They stepped out to comply with the provision of the Banking Act of 1933 which prohibits a person interested in dealing in securities from serving as a bank director after Jan. 1. Among retiring directors: Floyd L. Carlisle of Niagara Hudson and Frederic J. Fisher (bodies) from Manhattan's National City. Philip Stockton of Boston's First National reversed the drift by resigning from First of Boston Corp. (securities affiliate...
...Jacobus Roosevelt took his son Cornelius into partnership. In the course of business Roosevelt & Son found it expedient to discount its customers' notes. Before long it began discounting notes of other hardware merchants. By 1824 the prospering Roosevelts were able to take a hand in founding the Chemical Bank (now Manhattan's potent Chemical Bank & Trust Co.). By 1845 a biographer, rating the Roosevelt fortune at the then fat figure of $500,000, observed: "No family shines more honorably in the ancient Dutch annals of this Province than the Roosevelts, the venerated Burgomasters of their...