Show BARK BANK CLOSING SEEN AS PLOT TO GET FORD Former er Official of Holding Company Heard at Detroit De Do troit Probe STARTLES GRAND JURY Tells of Big Clearings After Holiday Began m B Br Press DETROIT June Jupe 26 Herbert 26 Herbert R. R WIlkin Detroit banker today told the one-man one grand jury investigating the he closing of two national banks here that The sole reason for the closing of the banks was in my ray opinion to get Henry Ford Wilkin former executive vice president president president dent of the Guardian Detroit Union Group Inc holding company for a number of banks declared he was atthe of at the opinion that Wall street believed it had a chance by tying up Fords Ford's deposits in the banks to so deplete his working capital that he must deal with them or go broke Ford he said had more than on deposit deposit de de- de posit in Detroit banks at that time Just before he made the statement nt Ford Wilkin had startled the open grand jury session by bide declaring declaring de de- claring daring more than had had been been cleared through the Detroit clearing clearinghouse house between the t the thea actual declaration of at the state banking holi holiday day Tuesday February 14 and the following ng Thursday BARES WITHDRAWALS Withdrawals he said were made on behalf of Mrs James Couzens wife of the Michigan senator arid and the Second Second Sec Sec- ond National bank of Houston Howton Texas The aThe first man to spring the idea that the two old banks the First National National National Na Na- bank Detroit and the Guardian Guardian Guar Guar- dian National Bank of ot Commerce must be closed to give way to one new bank was George W. W Dav Davison of the Central Hanover Bank and Trust company of New York Wilkin test test- fied Davison told a group of at the Detroit club on the morning he arrived that Detroit must have one new bank The Detroit bankers after af after ter hearing him came away with the Idea that through Davison Wall street was Wa trying to control the credit of ot the whole state of Michigan n. n In discussing the check clearings Wilkin told Circuit Judge Harry B. B Keidan presiding at the hearing that Continued on Pat Pace Two BANK CLOSING SEEN AS PLOT TO GET FORD Continued From rue Page One Ont Nearly all th the personal account of Mrs Irs Couzens was withdrawn the day before the holiday He mentioned only two other withdrawals with with- both by the Houston bank one ne for and the other for JONES JONES' HOME nOME TOWN Wilkin said Ho Houston ston Is the home hometown hometown town own of Jesse H H. Jones then managing manag- manag ing ng director and now chairman of or the Reconstruction Finance corporation The Detroit News reported that Jones ones reached by telephone at al his Washington office said he has no connection con con- at all with the Houston bank and nd declared the bank did not get any ny my information from him regarding conditions in Detroit Wilkin said he was unable to recall the he amount of ot money Mrs Couzens withdrew from the bank but declared this lis was vas among a great many that hat were put through the clearing clearinghouse house ouse after the declaration of the by Gov Cov Cover Govnor Govnor nor er William A A. Comstock |