Salt Lake Telegram | 1933-09-19 | Page 1 | Detroit Banks Will Seek Aid

DETROIT BANKS WILL SEEK AID B Br fly United Press Iru DETROIT DETRO Sept Cleared 19 19 Cleared of criminal crimInal- charges in a ruling which declared their banks solvent officers of Detroit's two largest banking institutions in In- today laid plans for financial financial finan inan cial relief of dep depositors whose moneys have lave been tied up for tor several months Judge Harry B. B Keidan in a n sudden sud sudden den termination of or the famous one one- man investigation last night found that the officials were not guilty of any acts involving criminality or moral turpitude He Ho further ruled that the First First Na Na National bank and the Guardian Bank of Commerce in which in n deposits is tied up were solvent on February 14 the day Governor Continued on Pate Page Two Tiro J DETROIT IT BANKS BANKS' z WILL SEEK AID Continued Irom from Puce Pare One William A. A Comstock k declared a bank tank holiday In Michigan As soon as 5 the Investigation which h 4 began on June 14 14 came came came- cameto to at an end n a grOUP of De Detroit olt men head headed d for Washington sought relief Washington where long for lor depositors will be asked Witnesses at the bank Investigation Including receivers for forthe the closed In Institutions testified that had they been given riven loans by the Reconstruction Finance Fi- Fi nance corporation the Detroit banks would not have closed If It the new pleas at Washington are successful depositors In 99 Michigan s cities which used the Detroit banks as reserve depositories will have access ac- ac cess to part of their mone moneys which have been tied up for form more re than seven sev seve en