The producers news. [volume], December 19, 1930, Image 1

About The producers news. [volume] (Plentywood, Mont.) 1918-1937

Image provided by: Montana Historical Society; Helena, MT

                
HISTORICAL SOCIETY
OF MO 1 - ANA,
HELENA,
T T T^
I.IBHAR?
c
pH A
» MONT.
Dont Forget to Send In
Your Subscription to The Producers News!
Do Not Delay !
Do
It Now !
IS THE PRODUCERS NEWS
Liberty Is Not
Handed Down
From Abov«
Published Weekly
A PAPER OF THE PEOPLE, FOR THE PEOPLE, BY THE PEOPLE
PLENTYWOOD, MONTANA, FRIDAY, DECEMBER 19, 1930
VOL XIII, No. 38.
Sub. Rate«: A 0 '? 1 »". m.ts p«r ««r
_ I n U- S. |3.00
Entered u second Class Matter, October It, lilt, at tb# Pcmt~
office at Plentywood, Montana. Under the Act of March 3 . 137 *
per year
J. SINCLAIR WRITES
OF BANK FAILURE
famous former north
west BANKER COMMENTS
ON FAILURE IN SYNDICAT
El) ARTICLE AS FOLLOWS;
Notwithstanding the rumors
that have been current in New
York for some time New York
was startled yesterday by the
announcement that the Bank
of United States, with its 59
branches had been taken over
by the state banking depart
ment.
On Wednesday afternoon de
positors' "runs" at several of
tht branches of the bank had
dwwn that prompt action was
nweseary to save a very seri
ous situation.
A meeting of business and
banking leîders was call til im
mediately at the federal re
serve bank. It was a distin
guished "party" that gathered
there. The federal
bank officers present included
J, Herbert Case, chairman of
the board; George L. Harri
son, gavernor and W. Ran
dolph Burgess, deputy gover
nor. In addition there
Owen I). Young, A. H. Wig
gin. Mortimer H. Buckner, C.
E. Mitchell, J. E. Reynolds, T.
W. Lamont, C. H. Sabin,
Lieut. Gov. H. H. Lehman. E.
Chester Berstein, president of
the Public National Bank; B.
K. Marcus- president of the
Bank of the United States;
Saul Singer, Nathan S. Jonasv
and Ralph Jonas of the Marft
fadurers Trust Co. and F. E.
Rasier of the Internationa]
Trust Company.
reserve
j
were
Although a member of the
federal reserve system the
Bank of United States has |
connection with the United
States government. It is a
state bank anM was started in
\9\A with ?IOO : tK)€ capital, It
grew rapidly into a metropoli
(an bark with a capital of
$25.250.000 and $17,156,000
surplus and undivided profits,
*ith gross deposits of $202,
972,000 on September 24 last.
A tig bank in any city
New York,
no
ven
Its branches were scattered
thrunut the entire city, espe
cially in the working men's
inn ldent ' a * sect h )n8 - It had
WL000 depositors, most of
"n«m have small savings ac
«nunts. 23,000 stockholders
and 1.884 persons, excluding
•JBeers, employed in the main
«nee and the various branch
ca,
Tbe bankers and business
wen worked desperately until
dawn. A score of
bons
none
sugges
were put forward; but
was found satisfactory.
thine remained—to
over the institution to the
ew ^ or L state banking
Partment.
Yesterday
typewritten
Just
one
turn
de
mosning a little
notice posted at
î" a ' n entrance of each of
U 6 branches stated that
* bank had been closed and
taken 1
tHorities.
the
«ver by the state
au
Hie closing of the bank is
. a -math of the bull mar
• liny of it s big deposit
's had invested heavily in
LTu * len -- e stock max
* broke in the fall of 1929
a ni,n 'b('r of its loans were im
l« ,r ed hy too thin collateral.
HOOVER'S MESSAGE IS AS CHIU AS THE
WIND FROM GREENLAND'S ICY MOUNTAIN
Economic Depression Cannot Be Cured by Legislative
Action or Executive Pronouncement/* says President
n Menage that Held Hope for the Miserable but
Which Was Satisfactory to Big Business.
q ^ ^sHington —FP— President Hoover's message to
^°ngress has a tone as chill toward the unemployed as the
Member winds that drive hungry men to shelter in dark
rways. He analyses the various causes of the depres
S [° n ' / e i° ices m thought
mat "our country is today
*trono<»v • il •
ronger and richer m re
purees, in equipment and
skill than ever before in its
J/tory." and predicts a return ol
fÄ rity> But he disapproves any
{^ era l appropriation of money to
ZZh and s *dtcr tor the mill
es. °
*
cannot find wrk nd wag
tin ^' <)v€,r nment Powerless
Hoo/ O 0no .î ïlic depression
Utivl r l / 0Tm °t be cured by legis
l«n ceB ïî 0 n or executive pro
be hpoi j l Ec<m °mic wounds must
Sjgfcibyth.
says Mr.
. action of the cells
and 600110011 ® hody—the produc
covm d con Z umer8 themselves. Re
jects mif ,n , ex Pedited and its ef
tion. Tii' l f ated by co-operative ac
evç rv T V. co-operation requires
faith a .r ndua l should sustain
should Lot courage; that each
" ""'"Wn Us self-reliance;
Gigantic Bank
Gotham
ra
Examiner's Report Stirs Taxpayers of the County to Action
Take Definite Steps to
Meet Grave
■
Fanners Propose to Circulate Petition Asking Attorney
General to Come to Plentywood and Investigate Ac
tions to Rectify "Deplorable" Conditions at Court
House as Disclosed by Examiner—May also Petition
for Grand Jury to Make Investigation of Irregular and
Illegal Proceedings Everybody Feels that Something
Must be Done to Remedy Conditions.
The people of Sheridan county are aroused over the
sensational disclosures of the public examiner as publish
ed m The Producers News last week. They want to know
why these things are and why they are allowed to contin
. 1 hey want to know why there has been
done, about these irregular!-*-———
ue
nothing
ties. They are wondering if
there are no means of
dress, no source, of protection foi
the tax payers available. Thous
ands and thousands of dojlars of
the taxpayers' money have been
spent on malicious and framed
up prosecutions of- certain individ
uals while the treasury is literally
being robbed and the county ren
dered bankrupt without any move
made to protect the taxpayers.
People all over the county are
talking of the Examiner's Report.
They are denouncing the suppres
sion of the same for nearly three
months, in order to keep the vot
ers ignorant of the rotten condi
tions existing until after the votes
were counted in defiance of all
laws requiring that the report be
published pronto and how. Many
believe the suppression of this re
port justifies an effort to impeach
and remove those responsible from
office.
re
Taxpay^rs Association Takes
Action
The Sheridan County Taxpayers
Association is taking immediate
action as is evidenced by the fol
lowing letter which arrived at the
Producers News office Thursday
noon. The Producers News urges
that taxpayers everywhere join
this organization en masse and co
operate in every possible mannei
with that organization to bring a
bout a liquidation of the sad
the county now finds itself in as a
result of gross and wonton mis
management.
The communication from the
secretary of the Taxpayers Associ
ation follows:
mess
LETTER
Dagmar, Mont.,
December 16. 1930.
Deai Editor:
In view of tbe recent drastic
exposures by the State Exam
iner's Report the Taxpayers
Association will likely be call
ed on for some active part.
While some investigations are
being made and our executive
committee is getting together
may I suggest to those inter
ested in this and other county
affairs and who sincerely
(Continued cn u,ium
h 1
^at each and every one should
search for methods of improving
Ws business or service; that the
vast majority whose income is un
impaired should not hoard, out of
fea , r ' bat should pursu f. their ™ T '.
mal . h W. and
each should TOek to assist Ws
neighbors who may be less fortu
nate; that each industry should as
sist its employees; that each com
munity and each state should as
sume its full responsibilities for
organization of employment and
relief of distress with that sturdi
ness and independence which built
a great nation."
Passes Buck to States and Cities
Farther on, he indicates, indi
rectly, the importance to^ the mill
ions of unemployed of his passing
the responsibility for their relief
to the cities and states and to em
ployers and individual citizens.
"Some time ago it became evi
(Continued on Lost Fajej
4
SOU LINE FARMERS MAY ORGANIZE A
A CO-OPERATIVE B UYING ASSOCIATION
Äta
gM
..kæ £Ks' rtr*
ers rush in their subscription
money as fast as they possibly
can, for the paper needs it to meet
bills and pay wage claims that are
pressing.
«SH
SrSrr "Si* S
payment *of subscriptions* *
Besides this an advertising boy- !
cotte has been organized against
this paper, in hope* of destroying
it, by those who would keep'the
farmers from finding out what is
going on at the court house
However, The Producers' News
is not going to suspend though the
fact breaks the hearts of thetorm
er haters.
These people can put that in
their pipe and Emok» it!
The farmers are now organizing
collections squads in each and ev
ery neighborhood, which will
every one who owes the paper.
The farmers are also going to call
a meeting of the Producers News
stockholders and friends, when
definite steps will be taken in re
gard to the boycotters.
But in the meantime, send in
your subscription. Don't delay, do
it today.
RUSH IN YOUR
SUBSCRIPTION!
*
nn
WESTLAND OFFICIALS HERE
At a meetine of' thp
Oil Company held TuLdav^t^^
W E rir ltiesday at Sco
* M
tary treasurer and Mr Gray vice
prerident. The three 'Ä,n™''ta„a
paid an official vbif fn Fho 1 „
station that afternoon.
HUNDREDS rock
TO NEW GOLD FIELD
Reno, Nev.— With hundreds
of men and a few women at
the scene of the latest goM
strike 38 miles north of Love
lock, Nevada, in the Rabbit
Hole district, claims for many
square miles around are being
staked rapidly and a few tents
ware set up in the sagebrush
this week by prospectors
Several expert
. prospectors
have gone into the field to in
vestigate the strike but so far
no definite reports have been
received from them indicating
whether they think it is of
large proportions.
The Scossa brothers who
started the rush by displaying
several sacks of very rich ore
in Lovlock last week have
been prospecting in the dis
trict for a year but little is
known about them by Nevada
mining men. They are from
California.
The strike is in
a well
known mining district where
placer mining has been prose
cuted for several years with
considerable success.
*
MONTANA COUNTIES
TO SHARE IN EARN
INGS OF FORESTS
Helena, Dec. 15.
Counties in
Montana where national forests
are located will share in $78,193.88
the U. S. Forest Service notified
Governor Erickson today.
The amount is 26 per cent of the
total forest earnings within the
state for the fiscal year which
ended last June 30. It will be dis
tributed by the state auditor
mong the counties affected on an
acreage basis.
Lincoln county will receive the
largest amount $12,059.34. The en
tire Kootenai national forest is lo
cated in that county.
In some instances one county
will receive allotments from
eral forests. Lewis and Clark, for
instance, participates in five.
a
Rev
* A number of farmers along •
* the So» Line are talking of •
* going together and starting a *
^ ;
;
'■ aa ä s™: ;
fSaîs::;Er—
* Pr< À ^ ,, ,
* tore roo, J could **
* tiens are^vaitohie" d STfu* «
• Central ciiiratiw Si,««
* ^entral L-operatiw Plxchange V
: ;
i S52rSSs :
* s Vf h a venture is ver y favor
* 1 ' . ... . . !
* f In Wlth this a »
* f a "J er s market would be op- *
* ^ where farmers can ex- •
* V ^î ab * es f and ? eats and *
otb * r P™ du cts for sale on Sat- *
* f each ^ eek as th ^ d " *
* L farmers *
» l
* I?™ 1 , ot tfte Farmer-Labor *
* Ten, P^ would be an ideal *
• * or t . the farmers market *
* ?hewJ| he fh 7*1$ month * *
* L Ç 1 ? m,arke t *
J vi do f ing * I
' J rth wh,le fo,r Plenty- »
*****«•»**»
******
-- I
MONTANA UNIONKTQ
Fir- UTD'iumn
rUWLR TRUST
-
By Walter L Shay
Butte, Dec. 15. — Guaranteed
funds enough to take the matter to
matter to
su P. reme c °urt, the Montana
I R f de ^ t . 10n of La bor has started
proceedings against the Montana
P ry division 01 Power
of
■ -fa, «,r° We ' t0 '- S - ta11 natural
Vanous cl ' les «f Mon
D T
ation'is'^in^ Vï* ****'
—,t~ tauige 01 me various
suits instituted against the power*
,-bi.-ri.
if " charge of the legal work. In
Butte and other cities where free
holder elections have given the
power trust the right of franchise,
mayor, city clerk, and other
city officials have been cited into
.court on complaints charging that
' S e e 1 ion Iaws were ri S re
ESS t clu l f of whlch was the
failure to have at least 30 days
the^resol^r 6611 ^ publication °t
and J®?? lutions ^d the election
f Æ re 10 Publish a list of the
vote K t0 VOte ' The
pw Î « tbe franchise carried sev
6n one Butte.
261,000 RAILWAY lORq
UAin^.«V AI JvJBb
HAVE DISAPPEARED
"ÂiAïÂ-ïsîv--"
s/stas
InterZi e ™ phaslzed b Y the latest
wave f? te Commerce Commission
twfm 11 !" 1 ! 8 * In the 12 mon ths be
the n n !? ember 1929 and 1930,
road^ b ?- r of jobs °n Class 1
crease declined 261,000. The de
1,486 906 & tk 5% ' fr °, m 1 * 747 * 81 6 to
from' $?ißnlS»5 ayro11 sli PPed down
or7e% ' 00 °' 000 to ^-OOOfOOO.,^
CONVICriON OF
S. R. COLLINS IS
AFFIRMED SAT,
Word was received in Plenty
wood last Saturday afternoon to
the effect that the conviction of
S. R. "Nig" Collins for "assault
with intent to commit rape, in the
district court of the 20 judicial dis
trict on March 27, last, had been
affirmed in the supreme court
Saturday morning.
The case was appealed for Col
lins by Attorneys Paul Babcock
and T. W. Greer, May 29, last,
and argued in the supreme court
November 8th by Attorney Bab
cock.
The case was considered a very
flimsy one by those knowing the
facts. but evidently the supreme
court thot differently. Chief Jus
tice Lew Calloway wrote the deci
sion which was concurred in by
the rest of the court. The opinion
is said to be sarcastic and held
that Pishbeck was equally guilty
^ However, Judge Feldt
th< ? t d ^erently and the
Kamst, him was dismissed. The
r» « ««
i™
sßsSIIpSSSSSrS:
a. «mtss sr*
case a
-—
17inr<IlTT 1 /TAirmimiv
»'VIRGINIA GOV R NOR
I UVUlllLfl UU f UllUIV
rebuked by green
fïïSKttJfs st.
•;*£ Police to break up picketing at
gates " tb f Danville, Va.,
textile workers strike, Dec. 8, and
the threat of sending more state
troops to overawe the community,
JJ r ® sld< mt Green of the American
Federation of Labor issued a state
.™ ent ..puking Gov. Pollard and
the . nu ? P^ ers f or their overt acts
"Çf* the
A tragic situation which has
been given considerable publicity
exists at Danville," he said- "A
great textil e curation ïïd itl
president refuse to allow its em
Payees to become memters of ^
organizaton affiliated with thü
American Federation of Labor
This corporation through its exeo
utive officer, rejects mediation re-'
fuses arbitration and turns a deaf
ear 10 a11 appeals for ajutthS
uiane and reasonable settlement of
tbe differences which caused the
st nke.
^ e . n ' women and children are
offering, not only because of hun
of hun
and ] ack of clothing but, in
addlt + 1 . on ' fr om persecution. A cor
P° ratl °n which has assumed such
«Preaeonable att.tude towäS
thel^™P'«y«» H ta. forfeited
* P " b !i op !?'°"
. B ^ a f n are «""tafte the state
! gmia, without adequate
' has !
£ roo P s tp Danville. Their pres
88 a disquieting effect and i
presence
ts.-ÄÄBasÄ'Bi
P t ye P °. f the state. A corporation '
w lVch will not mediate or arbitrate I
1 ^ S€m Ployees is not entitled
^ the use of troops for the pur
P ? se terrorizing honest effi
c £ nt work ^^ people whosfdtiren"
S lpand standing are unassailable
^ hc opinion ought to S
1 wh f n mjustice is so manifest
1 ^ ere tyranny prevails the neon to
h 0 w V rise up and denoun^T^t.
* H w A the good people of Virginia
^ t? lera te s uch a situation af ex
lSt "Cn di i fi 5 ult t° understand.
. G ? v ' Pollard would have ren
Idereda ^eat service to the pe^pîe
troons'+ ilU rv instead of ®e2g j
Ä.tod when tbe Y w «re
jested, he had advised the cor
SLÄ ^ d tt ? officers that in
1 of tr °ops he would
^diätors. Such situations
create widespread
The crying
send me
as this
-
a%£K -Ä? a-.
** and Justlce -
COvrrxr/,
New Years Carnival
cemW o,^ 11 ®' ^entywood, De
S* 6 "-Jî^New Year's Eve.
tan!» ^ U . be notrheastern U<m~
| u e A b J^? b test spot. See the bat
tacto* tb |, cl o ud s and other spec
168 -^ Fnn tor all and all for
Plentywood 1 *Band. " -pi " B ° f ^
un
and
SPEND SIXTY-FOUR
BILLIONS FOR THE
DEFENSE OF U. S.
Washington—FP— Expenditures
by the United States for national
defense, from 1791 to 1929,
shown by the last annual report of
Secretary Mellon, amount to $64,
804,670,719.
This total includes, roughly,
28 billions fior the . War Depart
ment, including river and harbor
work; 11 billions for the Navy, 8
billions for pensions, and 17 bil
lions for public debt retirement and
interest on the public debt over
this period. The World War cost
the United States government $37,
573,950,113, while the Revolution
cost only $142,658,132.
HARRY KOIKE GIVING AWAY
BIG RADIO —15,000 TICKETS
Harry Koike, the genial manag
er of the City Cafe is giving away
a fine radio to the patrons of the
cafe. With each 35c purchase he
gives a ticket—starting Christmas
day. When 16,000 of these tickets
have been issued the drawing will
take place and the holder of the
lucky number will get the splendid
radio. All those owing bills at the
cafe will get a ticket for each 35
cents paid.
as
DAGMAR F. ü. ON RECORD IN FAVOR OF
m m N0TAXPEWALTY
*
tams s sea
""""• ar-7;
Dp'SÂo
PrnHnrpr-c ^ 12 ' 1930 '
Plentvwood^Montana
Genriemen^ M *
t , .
EpafS
Believing that both situations
are quite important and well worth
consideration and it may help to
ward action if enough organiza
turns as well as individuals bring
pressure to bear upon the legisla
ture.
Thanking you in advance, I am
Respectfully yours,
I THOMAS SUNDSTED,
_Secretary,
RESOI TTTinM v 1
1 WHEREAS U T N N °' \ ,
nmvSp f AS ' Our present law
Cult wf FS** ° U a11 de 'i
tionai iV* besides an addi
per month, and
j W HEREAS, Knowing that un
der conditions a large
f umber u f . taxpayers are unable
° Pay th€lr taxe *'
THEREFORE BE IT RESOLV
1 ' By the Hagmar Local No. 367
Montana division of the Farmers
f Uni ' on of America, that the legisla
ure Montana be requested
to
Montana be requested
^ ove the P^alty as an emer
Re ^ cy measure, and be it further
RESOLVED, That a e
re s „luUon/be rent
S2!~ana repre^LtaTivef^
Sheridan county when the legist
meete at Helena, Also that
copy be sent to the
tlme *
to
a
press at this
™SST" !
knowing that in
ine chinnJ)^ f° f gasoline are be
he top- cOu* ^ ^.° V r stat ® and are
better J^cr prices than
Dakota^ a f 6S crasobne in North
extotW that the
and oif on £ asoli ne
it-^hte exhor bitant. be it
ppcm vvrrv
1 i^9 LVED ' That we, Dagmar
dston^of ^ the Montana
A™- of , tbe Farmers Union of
^i f rica dema nd 0 f our state legl
toatto^aï^ resent discrim
? atlon against the users of gaso
tZ oil in 016 state of Mon
FTTPTw^îf^ and be {t also
Resolved, That a
f Py of these resolutions be sent
fîom ' Shtîfd° r 8nd represent atives
l! h r da ' count y- Also that
thisTme . t0 the pre - at
di
Antelope Boy Nominated
For U. S. Naval Academy
SSfcJrt ^ heeler noml- •
« tl™ F * d0n Hoven as first •
United t qta? r a l missi °n to the •
Acad emy •
' Md „ for the
irt Yo ". n8 HoveTl is
of Mr. and Mrs. O. B
of Antelope, Montana
year *
the son •
Hoven, •
FINANCIAL FOUNDATION
OF NATION IS SHAKEN BY
STUPENDOUS FAILURE
j
Vail Street Heads, Up all Night, Try to Save Bank of
United States and its 59 Branches, But Had to Let it
Sink More than 740 Banks Have Closed Since Janu~
ary 1, 1930 — 100 Closed in November — Deposits in
Failed Banks Over $500,000,000
ENS OF THOUSANDS OF WORKERS ARE
AFFECTED — ECONOMIC CRISIS WORSENS
New York. With $202,972,469 in deposits, affecting
tens of thousands of unemployed and employed workers,
the 59 branches of the Bank of the United States in this
city, the financial center of the country, closed their doors
Thursday morning. The banks refused
to pay out one
battle for tradr
"""ü?
Glendive, Dec. 16.— The ancient
battle between the Great Northern
^ the Northern Pacific railways
for trade territory in eastern Mon
; tana will be renewed here Mondav
SHk
e d county, shall be grant
The Great North*™ • . .,
territorva! toitoîl ' ^ au ^ g " 1 . the
opposes 3 thl wantW nF /h* hne
jSt th Knmtmg of 016
i n t i, e mrtv Mn D ...
! of . No jthem Pacific
1 were W h T today
er R W nîf , Z^ral manag
traffic manager' TETkT*™'
„vT* d ^ a r er » Ihian,
suiting engineer; J. M. Hughes,
m p ^ mmiss î°P er; Frederick D.
i F^Er' assistant
1 F. H Sharood, assistant gen
Ä and L R - Oap.ron,
f manager.
Mld ^ the permit is grant
ed 1S planne d to build the line
next su mmer.
per
con
coun
CHRISTMAS DANCE
There will be a dance Christmas
night, December 25 af the Farm
Te ™P le - Goodman's Aces
of Rythm will furnish the music.
Come trip the light fantastic and
torget your cares—they will keep
—lots of fun. H
federal old age pensions become a
NATIONAL ISSUE; NEW CONGRESS TO ACT
iu k,
•< *. N
vocated a modem system oToîd a Cand,dates who
cessful, the issue of federal ro ?? PenS, ° ns were - —
age security for every American who ha" faifed^"*
an mdipendent income ;<»- - - t lled 10 acquire
coming to the front in the
discussions of poverty in
Congress this winter. It will be
Hb/TT 61 ^ " the Program of the
liberals in the new congress. Ev
jdence of the rapid growth of
nni-îf 1 f enü î nent for old age se
curity has been gathered by the
American Association for Old
cemW y t and published fa the De
rZZ ^ of its ma ? az fae. This
2 echoes the conclu
sion of numerous editors in all
problem f th& • COUntry ' that the
problem i s coming up from tb*
Progressive states to cSogreS. ' he
Senators for System
Senatorial candidates elected in
November on a platform which
P Ç« 1 Ponsions to the aged were
«» Colorado, Lewis of l"
C0UMnS
sue
"eclä re i Governors
eiecieq as advocates of old
Pensions were Roosevelt of
York, Pinchot of Pennsylvania
Cross of Connecticut, Ely of Maî
sachusetts, Ritchie
S^ C oT ° f VE** ^ifa ofoT
bio, Olson of Minnesota, Meier
Oregon, Emerson of Wyominr
Oklahoma and C o,'
Idaho. Since every governor to •
potential candidate fS 2?»tor
senator, or for the pre s S„ r ',vI
.roveS
from their SStSÜ
wd^be'consideraMe. Pen ''° n '
^oyd ÏÏZXSSSS*'
i M; opponent, stated the case Z
(Continued £ c ks S a ««
•ft*
New
PO
Of
Age
of Oregon
— -
isÊæME
s db- 2 »sSSS
wait at the doors, questioning the
hundreds of uniformed oops who
i ha ^ e surrounded these institutions,
a £ d . evasive answers about
their money. The banks
"
pay out one
* penny and are now in the
hands of Joseph A. Broder
ick, state superintendent ol
banks.
were
workingelajs*
neighborhoods and it is the work
ers who will suffer most from this
closing up.
Not Isolated Failure
The closing if the Bank of the
United States is not an isolated
instance. In the first ten month»,
of the year before tbe 59 branche»
here shut their doors, there
734 bank failures thruout_
country involving 317 million dol
lars; the total has now been brot
to $519,972,469.
The failure of the Bank of the
United States, capitalized at $26.
000,000 with $17,000,000 surplus,
and $202,000,000 in its mam aïuî
59 branch banks, shakes the very
foundations of Gotham and is on»
of the largest bank failures in the
history of the United States.
Financiers here in New York ad
mit that it will be followed by
more. As usual, this huge bank
was as strong as the famed Rock
of Gibraltar until it crumbled to
the earth, leaving thousands
workers facing
Christmas time.
were
the
of
starvation
at
T . „®*ww's H<*,
link , Koverment, wlien
110 banks With $100,000,000 in de
posats crashed during November,
attempted t 0 fool the workers into
(Continued
or > rage Four>