Word: sufferer
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Dates: during 1930-1939
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Michigan, first important state to suffer a banking collapse, last week was the first to make headway out of its troubles-under the spectacular leadership of none other than Henry Ford, foe of all bankers. Three weeks ago when Michigan's Governor Comstock closed all banks in the state, Mr. Ford had $7,500,000 in Union Guardian Trust Co., $22,000,000 in First National (TIME, Feb. 20, 27). After the shut-down the Detroit bankers began to scratch barren ground for new capital with which to reopen Guardian National Bank and First National. Finally the bankers betook...
...bank and on to the books of the security company. And this was done in the interest of depositors in accordance with a vigorous and highly successful attempt to make the bank safe for depositors. If the loans are never paid back, the bank's stockholders will suffer, not the depositors. Example: whether to "close out" a frozen loan at a loss or to attempt to quicken it back to life is a banker's daily problem. On Cuban Sugar, the bank decided wrongly. But again, no depositor suffered, for the very reason that the risk was transferred...
...original enlargement of this particular class for economic reasons was unsound, and to make the House Plan suffer through the withdrawal of the graduates and their contribution toward maturity and continuity would be to condone a very questionable practice. University authorities must find some other solution than that of a drastic limitation of the graduate students in the Houses on order to enable the Freshman class to migrate en masse next year to the realm of Georgian facades and Moorish domes...
...inside-page stories. When they received Washington dispatches on Congressman Fish's charges last week they killed them, ostrich-wise, at President Hecht's urgent request. Of course the news went out to newspapers in the North. Hibernia Bank & Trust, doing a nation-wide business, began to suffer heavy out-of-town withdrawals, and the news seeped through New Orleans' financial district. President Hecht wired complete refutation of the charges and Congressman Fish offered to review the facts. Shot back President Hecht: "Thank you for your message. . . . In the meantime this unfortunate publicity has done irreparable damage...
...Congress, his statement that "there are not many Senators or Representatives who sell their votes for money . . ." wins undue respect from the office appended to the by line. If the Senate cannot command respect even from its own subordinates, its prestige in the country at large must suffer. And when all this is added to the protracted Bronx cheer which the nation's press has directed at the defenceless lame ducks, there is small wonder that the Senatorial ire is aroused...