TO UNDERMINE BANKS
Believed Communist Plot Revealed. FAILURES AT CHICAGO. (Received 10 a.m.) CHICAGO, July 28. What appears to have been a nationwide plot to undermine the banks was revealed by the Federal agents who raided the hotel room of George Rowland, an alleged Communist of Pontiac, Michigan. They found a number of documents detailing a "whispering campaign" against the banks throughout the Middle West. It is understood the technique of the so-called Communiste consisted of clandestinely telephoning to heavy depositors declaring that various banks were not safe and that closing was expected. It is believed that such tactics were responsible for the heavy withdrawals from a number of the Chicago banks in June, when, many failed.
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Auckland Star, Volume LXIII, Issue 178, 29 July 1932, Page 7
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117TO UNDERMINE BANKS Auckland Star, Volume LXIII, Issue 178, 29 July 1932, Page 7
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