DIRTY LINEN
AMERICAN BANKERS AIR THEIR ANCIENT BAGWASH. Detroit, Saturday. "I know of no other city in the whole world where there has been such an orgy of pyramiding corporations and fixing of fictitious values and inflated earnings." Senator James Couzens added his piece to-day to the dirty financial linen which is being washed at Detroit, before the Federal Commissioner inquiring into the closing, months j ago, of two huge banks, the First National and the Guardian. "Why, everyhody knows that the Union Guardian Trust Co. jockeyed the children's funds of Michigan out of1 200,000 dollars (£40,000 at par)," continued. the Canadian-born Senator 's evidence. "Several people should be in prison for that alone." Yesterday Senator Couzens starL led the Commission hy admitting that he had been asked hy the former United States President (Mr. Hoover) to arrange a loan of 90j000,000 dollars (£18,000,000) to bolster up the Dawes Bank, for the good political effect it would have from the standpoint of White House.
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Rotorua Morning Post, Volume 3, Issue 627, 4 September 1933, Page 7
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164DIRTY LINEN Rotorua Morning Post, Volume 3, Issue 627, 4 September 1933, Page 7
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