AMERICAN CABLE NEWS

Hokitika Guardian, 15 March 1927, Page 3

AMERICAN CABLE NEWS

[Australian & N.Z. Cable Association.] V FLORIDA BANKS FAIL. NEW YORK, March 14. A message front West Palm Beach states Florida is faced with serious financial panic following on the closing of three more banks. The Farmers Bank and Trust Cov., long regarded as one of the strongest banks in Florida failed to open to-da.v, causing the immediate ' failure of two others, without a previous announcement. Sis banks in the district have now closed within a week, and nine in less than a year. Frenzied depositors are clinging in groups about streets and runs are feared on the remaining banks. Other institutions are attempting to import funds from Miami and Jacksonville to check the panic. No (.bartered bank is open in Palm Beach as the result of the failure and it iudicat,.>.C(l members of the millionaire colony may bo compelled to bike a band in the situation. MILLION LIBEL ACTION. NEW YORK, March 11. At Detroit, what promises to he one of the most sensational libel trials of recent years, opened to-day with Henry Ford as defendant. Aaron Sopiro, the noted attorney of Jewish extraction, and organiser of the most important group of agricultural co-opeA'.tivo societies in America, is suing Ford for a million dollars damages on flic V ground that he was personally libelled, / in a series of twenty articles printed in “ Dearborn Independent,” in which it was alleged Sapiro, as part of the organised international Jewish financial ring, was dominating the co-operative organised for personal gain. Senator Reed is Ford’s principal counsel, but both sides have a formidable array of 1 legal talent and a bitter light is \ expected. It has taken two years to prepare ilVe ease for trial. An effort will be 'ifAte to air Ford’s attacks against the Iftivs, which continued for many years, mini 'while Reed states the Jewish question, will he kept out of the trial, / it is believed the issue will frankly bef come involved in a religious controvV'Vers.v of far reaching importance. Plaintiff expects to have Ford appear on the witness stand, and claims to have subpoenaed the manufacturer. Ford is constantly surrounded by n bodyguard, making the service of pap- j ers upon him difficult. He personally appeared on the stand in the Chicago “Tribune” lil>el trial several years ago, hut after that lie never appeared in any suits involving him.