Word: depositors
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...Massachusetts Bank which was founded in 1784 by six bewigged gentlemen-patriots who, admitting that banking was "quite novel to them all," wrote to the Bank of North America in Philadelphia for advice. James Bowdoin, Governor of Massachusetts during Shays' Rebellion, was first president, Paul Revere an early depositor. Unlike Manhattan's Bank of New York & Trust Co. which has merged only once in 150 years, First National has absorbed through seven mergers the businesses of 46 banks since acquiring Massachusetts Bank, is today ninth biggest in the land...
...Extend the temporary bank deposit guarantee one year from June 30 and perhaps increase the guarantee from $2,500 to $5,000 per depositor...
...three years the banks have been telling small business men that they could not conveniently make loans for longer than nine months, that it was not the business of a commercial bank to lend out for a year or more deposits which might be demanded at any timely the depositor...
...officer of a National Bank is criminally liable if he certifies a check for more than the depositor's balance...
...certifying bank guarantees that the depositor has funds on hand for the payment of the check, and the genuineness of the maker's signature. In the absence of a stated amount it seems impossible that a bank can make this guarantee...