Word: bankes
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Dates: during 1930-1939
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...bombing of Father Coughlin's house came with singular if not sinister timeliness. He immediately charged that it was an attempt at intimidation, a further persecution of him by his enemies. Having leaped into the thick of Detroit's banking fracas (TIME, April 3), Father Coughlin had just publicly aspersed E. D. Stair, publisher of the Detroit Free Press and non-salaried president of the holding company for closed First National Bank. Father Coughlin had talked of "smart money," charged that insiders gutted First National before the banking holiday...
...Free Press had swiftly countered by getting at Father Coughlin's bank and brokerage accounts. Photostating one of them with the label "smart money," it showed that Father Coughlin's balances had been as high as $55,516.20 in June 1930, that in the same year he had lost $13,955.89 on a $30,110.89 stock deal. The Free Press showed that Father Coughlin had sometimes deposited $20,000 at a time in $1 bills- gifts from radio listeners -and that part of the stock he bought was paid for with money from the account of the radio...
...from his damaged cottage into his striking Charity Crucifixion Tower, remained incommunicado save to announce that he would soon reply to his "enemies." Sunday, with vibrant voice, he addressed once more the ten million. Defending his right to speak of financial matters, he renewed his denunciations of "crap-shooting bank affiliates and their hideout holding companies" which he had charged were formed to evade paying double liability. His investments he mentioned only briefly, crying that the Free Press "defames the League of the Little Flower and myself for investing in productive Michigan industry,* which we will do again...
Farm Mortgages. The Administration put up to Congress its measure for 1) writing down interest on farm mortgages to 4½%, thereby relieving the farmer, and 2) for a Federal guarantee of the interest on a $2,000,000,000 issue of Federal Land Bank bonds to be exchanged for mortgages, thereby relieving insurance companies, banks and others who have lent the farmer some eight and one-half billion dollars...
...Banks. With $12,500,000 of R. F. C. money already invested in the new National Bank of Detroit, Government officials last week made tentative arrangements to invest $5,000,000 in a National Bank to succeed the closed Union Trust Co. of Cleveland...