Word: bankes
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Dates: during 1930-1939
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Another sub-Cabinet resignation of last week: socialite Wayne Chatfield Taylor as Assistant Secretary of the Treasury, vice president of the Export-Import Bank. One reason: discomfort over the Administration's foreign-fiscal policy (loan to China, airplane procurement for France-see col. 2). Another reason: difficulty in getting along with Mr. Henry Morgenthau...
...error, the 1937 Moody's Manual of Investments quoted the stock of the New Jersey Title Guarantee & Trust Co., sixth largest bank in Jersey City, at $974 a share instead of $9. The bank's president, Walter Pennett Gardner, was formerly judge of the New Jersey Court of Errors & Appeals. Last fortnight word began to filter about Jersey City that these were not the only errors involved in the bank's history...
Quietly, persistently, depositors appeared at the bank's main office and five branches, demanded their money. In three days the bank dished out $2,179,280. N. J. Title Guarantee & Trust still had over a million in cash on hand, but it did not open for business again. With $21,500,000 in deposits still on its books, it was the biggest bank failure in five years. Reason: under Boss Frank Hague, Jersey City's tax rate on real estate is the highest in the U. S. and the bank's assets were frozen with...
...Continued its catch-as-catch-can bout with potent Transamerica Corp. Going into its fifth week, SEC's investigation of A. P. Giannini's big bank holding company, on charges of false stock registration (TIME, Dec. 12), was still in the legal fencing stage...
Though no scientist, Everson recognized genius when he heard his gangling new employe's television theory. He went to see two officers of San Francisco's Crocker First National Bank, Jesse B. McCargar and the late James J. Fagan. Crusty Banker Fagan remarked: "Well, that is a damn fool idea but someone ought to put money into it and someone that can afford to lose it." He and McCargar put up an initial $25,000. The year...