LOAN OPERATIONS
Principle of Law Violated MR. DAWES QUESTIONED (Received Feb. 17, 8.30 p.m.) Washington, Feb. 16. Mr. C. G. Dawes, former Vice-Presi-dent of the United States, gave evidence here to-day that his institution, the Central Republic Bank and Trust Company of Chicago, had lent eleven million dollars to the Insull enterprises. Mr. Dawes agreed that this violated the principle of the law intended to prevent banks from "putting too many eggs in one basket,” but he said when the loans were made they were all supposed to be well secured. These securities, Mr. Dawes said, were now held by the Reconstruction Corporation as collateral on its ninety-million-dollar advance to his bank.
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Dominion, Volume 26, Issue 124, 18 February 1933, Page 11
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112LOAN OPERATIONS Dominion, Volume 26, Issue 124, 18 February 1933, Page 11
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