Word: foremans
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...Funnyman Arbuckle should be permitted to return to the screen under his own name. Last week, in the July Photoplay James R. Quirk gave the answer. He had received 3,000 letters from people who thought Arbuckle should be permitted to resume cinemacting; among the letter-writers were the foreman of the first Arbuckle jury and San Francisco District Attorney Matthew Brady who prosecuted...
...alarm spread. By the end of the week 29 banks had closed, Evanston, Des Plaines, Washington Park and Beverly Hills had been added, along with other communities, to U. S. towns where bank failures have caused suffering. Biggest of these was North-Western Trust & Savings Bank, affiliated with the Foreman group, with $14,000,000 in deposits. Smallest was Industrial State Bank with only $265,000 entrusted to it. Total deposits in the 29 banks were almost $75,000,000. Talk of re-openings was widely heard...
...people of that community want to wreck their own bank, they can go ahead." Chicago Bank & Trust was not wrecked. In other banks presidents and vice presidents stood in the lobby calming depositors. The best example of this had occurred early in the week in the lobby of Foreman-State National Bank. Announcement that the Foreman banks had been taken over by First National Bank was, of course, the beginning of the collapse of confidence. Frightened depositors came to Foreman Bank to get their money even after the deal was announced. The Foreman president, able Banker Walter William Head, assured...
Just before 2 a. m. Arthur Reynolds of Continental Illinois bank announced that First National Bank of Chicago would take over the assets of the Foreman institutions. To protect First National against loss, the Clearing House guaranteed a $10,000,000 indemnity fund, Foreman stockholders posted an additional $2,550,000. Yet even so the deal required courage and hero of the conference was Melvin Alvah Traylor, First National's able & active president. After the deal, First National will have resources of $883,000,000, ranking it as second in Chicago to only the $1,122,000,000 Continental...
...Republic Bank & Trust will have resources of $350,000,000. Its existence will please the Continental Illinois and First National Banks, both of whom are said to have long-wished for a third big bank in Chicago. Not included in the deal were six small banks connected with the Foreman system. Monday morning they promptly closed their doors until their status could be learned. Knowledge that the "trouble-spot" has been erased brought cheer to La Salle Street, also to Wall Street where stocks again rallied. But no rallier was Foreman stock which opened at $30 offered, nothing bid, against...