Word: bergener
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...costing 15?), the idea of deposit insurance being thoroughly obnoxious to them. Once the bankers had the plaques, however, the idea of having them taken away seemed even more obnoxious. Until last week none had been withdrawn. Then Chairman Leo T. Crowley of FDIC announced that North Bergen (N. J.) Trust Co. would lose its plaque May 1. Reasons: operating with impaired capital, lending in excess of the legal limit, unwarranted concentration of loans, extension of credit to people and companies in which the bank's principal stockholders were interested. "It was also found," said FDIC, "that the management...
...this sounded even more like boom times when Bergen Trust's Vice President F. H. Dieckman declared: "The whole thing resulted from the failure of the New York group of stockholders who control the institution to meet the demands of the FDIC. Local officers of the bank have attempted to handle its affairs conscientiously, but the power lies with the group of New York interests." The New Jersey Banking Commissioner chimed in that "certain alleged irregular practices" had been under "surveillance...
...apparently been at odds with the New Jersey stockholders for some time. At week's end it was reported that control had returned across the Hudson River to New Jersey, that after a cleanup the bank would apply for reinstatement. Financially, the whole affair was distinctly small time. Bergen Trust's deposits were about $1,000,000. But FDIC's crackdown did remind bankers that its supervisory function is almost as important as its insurance function. After a warning a bank is allowed 120 days to mend its ways. Some 50 institutions have been warned...
...from the misty fjord of Bergen, Norway, one morning last week climbed a trimotored Junkers seaplane. For some 275 miles it buzzed north along the ragged Scandinavian coast to Nidaros (Trondhjem), then on for 300 miles across the Arctic Circle to Bodo, finally another 425 miles past Narvik and Tromso to the famed town of Hammerfest, northernmost port in the world, where it sliced into the harbor at 5:15. Thus, in the first trip of a daily service that will last until autumn, did Norwegian Aero Transport Co. inaugurate the world's most northerly airline. Cost of ticket...
...suburban community whose weekly News lately editorialized in favor of a town incinerator which would prevent Englewood's poor from eating their fellow-citizen's garbage. Englewood's First M. E. Church, not the swankest in town but the largest and richest of the denomination in Bergen County, got its white-thatched black-browed Dr. Ball in 1931 by the usual Methodist method: accepting the man assigned by the local conference. With increasing apprehension Dr. Ball's congregation listened to Sunday sermons out of a liberal's bag of tricks-against "economic greed," against armament...