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...worthless collateral from Central Bank & Trust Co., for keeping $214,000 of the bank's bonds without making settlement, for depriving the bank of $45,000 proceeds from an Asheville municipal note issue, for fraudulently obtaining $300,000 worth of the institution's certificates of deposit, a Buncombe County judge sentenced Luke Sr. to from six to ten years in prison, Luke Jr. to from two to six years or a $25,000 fine. Still loudly protesting their innocence the Leas fled over the mountains to Clarksville, in their native Tennessee. There they directed their Nashville Tennessean...

Author: /time Magazine | Title: National Affairs: Leas to Jail | 5/21/1934 | See Source »

...traces of early man, the party found crude scrapers and knives made of limestone and volcanic rock. First evidence of an Old Stone Age culture in northern India, these implements were unearthed in a Pleistocene swamp deposit 500,000 years old. Other notable finds included fossils of land tortoises big enough to dwarf the Galapagos giants, and of four-horned ruminants bigger than rhinoceroses but related to giraffes...

Author: /time Magazine | Title: Science: Diggers | 5/21/1934 | See Source »

...Extension of the temporary bank deposit insurance plan, extension of the period for divorcing security affiliates, repeal of restrictions on commercial banking's participation in security underwriting...

Author: /time Magazine | Title: Business: First Grand Audit | 5/14/1934 | See Source »

...unsuccessful attempt to hold up Farmers Deposit Bank of South Vienna, Ohio, a lone robber mortally shot President Henry Marlin Saylor...

Author: /time Magazine | Title: Business & Finance: Banks & Robbers | 4/30/1934 | See Source »

...since racing cannot flourish without gambling, a turf track on the golf course of Long Island's Piping Rock Club was the only one functioning in the State. Year later a test case uncovered a loophole in the Hughes law. It was legal for betters to deposit money with a bookmaker before the day's racing, bet against it by marking paper slips during the races, collect whatever was left after the races. That left only the exchange of cash at the track during the races prohibited. With "oral" betting tolerated, horse racing again began to flourish...

Author: /time Magazine | Title: Sport: Layers & Players | 4/30/1934 | See Source »

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