BANKING DEBACLE
THE DETROIT COLLAPSE MILLIONS POURED INTO GAP Received Dec. 20, 7.30 p.m. WASHINGTON, Dec. 19. Contributions amounting to 27,000,000 dollars by large stockholders guarding the Detroit Union Group Incorporated, including 12,000,000 dollars by Edsel Ford and his company, in a desperate and unsuccessful effort to save this huge bank from collapse, were today described before the Senate Banking Committee investigating tho Detroit banking debacle. Ex-President Lord admitted that his organisation had made mistakes, but contended that its downfall was primarily due to the unprecedented economic conditions.
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Bibliographic details
Wanganui Chronicle, Volume 76, Issue 301, 21 December 1933, Page 7
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88BANKING DEBACLE Wanganui Chronicle, Volume 76, Issue 301, 21 December 1933, Page 7
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