Word: lac
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Mayor Charles O'Brien of Peoria, Mayor W. O. Summerfield of East Peoria, Illinois' Representative Everett M. Dirksen and a thousand people crowded around the little Fond du Lac State Bank in East Peoria one morning last week. Inside, before the bank opened to the public, a scrawny bespectacled widow in a cotton dress marched up to a cage marked "CASH F. D. I. C. ORDERS HERE," posed for photographers. In her hand she held a check for $1,250, her life savings, which W. Kenneth Hayes behind the counter had just given her. "I don't know...
Thus for the first time did the Federal Government begin paying off depositors in a closed bank under the Federal Deposit Insurance Law. Glutted with frozen paper on city real estate and business loans, the Fond du Lac State Bank closed late last May owing 1,789 depositors $241,412. A month ago its insured deposits were turned over to FDIC when the directors failed to agree on plans for a reorganization. Ninety-nine per cent of the depositors will be paid in full. Under the Temporary Insurance Plan (guaranteeing accounts of $2,500 or less), $125.000 of the bank...
...flask of. 76 Ib., was suggested as a good inflation hedge. Bernard E. ("Sell 'Em Ben") Smith, brash and jovial stockmarket operator, lately returned from a trip around the world full of good words for shellac and pepper. Though he personally inspected the habits of the Far Eastern lac beetle, he had apparently been influenced by a group of London speculators who call themselves the "Crusaders" and whose sworn purpose is to make the world "commodity conscious." Nothing much ever happens marketwise in either black or white pepper and nothing at all in shellac since the Japanese cornered...
...Lac Du Flambeau, Wis., April 27--One of the Dillinger gangsters tonight was believed cornered by 100 federal, state and local officers in a four-mile square swamp near here...
Part II was Paul Cornell Co. of Man-hattan,* founded by Mr. Cornell when he set up in business on his own account in 1926. Paul Lincoln Cornell, 37, was one of eleven children of a poor Methodist minister in Fond du Lac, Wis. He worked for B. F. Goodrich Co.. went to War, got into advertising. One product of his War service is that he is already anonymously preserved for posterity in marble; as the central figure of New York's memorial to its 107th Regiment, he charges gallantly into Fifth Avenue at 66th Street. No believer...