FAILURE OF DETROIT BANK
UNSUCCESSFUL EFFORTS TO SAVE IT (United Press Association— By Electrio Telegraph—Copyright) WASHINGTON, 19th December. Contributions of 27,000,000 dollars by largo stockholders guarding the Detroit Union Group Incorporated, including 12,000,000 dollars by Mr Edsel Ford and his company in a desperate, but unsuccessful effort to save this huge bank from collapse were to-day described before the Senate Banking Committee investigating the Detroit banking debacle in January. Tlie expresidout of the bank (Air Lord) addmilted that his organisation had made mistakes, but be contended that the downfall was primarily duo to the unprecedented economic conditions.
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Nelson Evening Mail, Volume LXVI, 21 December 1933, Page 7
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97FAILURE OF DETROIT BANK Nelson Evening Mail, Volume LXVI, 21 December 1933, Page 7
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