OCR Text |
Show NO IRE BOSTON BANKS J0 CLOSE Clarification of Ponzi's Affairs Looked for In Bankrupty Proceedings BOSTON", Aug. 14 Assurance that no further bank closings are likely to result from the collapse of the financial fi-nancial dealings of Charles Ponzl was given tonight by Jo.-eph C. Allen, state bank commissioner. ' I again state that the Hano1 er i Trust ccmpany and the Polish In-j In-j dustrlal association are the onlj banking bank-ing institutions Jd Now England known to be affected bj the Ponzl I failure," he said. The Polish Industrial association, conducting a private bank, steamship agency and other accommodations for Immigrants, was taken oer by the commissioner today. Henry H Clmle-linskl. Clmle-linskl. Its president, is also president of the Hanover Trust company, closed earlier, -Mr Allen said affairs of the Institutions Insti-tutions were 'hopelessly Interwoven' that the Polish association had exhausted ex-hausted Virtually all Its . a.-h and that its loans were either bad or doubtful. doubt-ful. FONZI IN JAIL Ponzl and the three officers of the Old Colony Foreign exchange company, com-pany, the ' 100 per cent, in six months" concern, arrested yeBterda were still in Jail Tho three ofilcer3 are Charles M Erlghtwoll. Raymond Meyers and Fred Meyers. Samuel Zorn. an agent of the Foreign Exchange Ex-change company, was released on 12.-0o 12.-0o bond Definite clarification of Ponzi's affairs af-fairs Is looked for If petitions for receivers re-ceivers for his Securities Exchange company are granted by tho federal court. A hearing will be held Tuesday. Tues-day. liankruptcy petitions were filed against the Old Colony foreign exchange ex-change company today. Branch offices of-fices in several New England cities were closed. NOTE HOLDERS ANXIOUS The offices of Attorney General J. W Allen were crowded today with note holders of the Securities Exchange Ex-change company and the Old Colony Foreign Exchange company. Mnn visitors voiced angry demands for the return of their motn ; Presentation of notes already has disclosed liabilities on Ponzi's company com-pany for 2. 000. 000. Many notes sent li mall have not been examined Possibility of a shakc-up In the police po-lice department as a result of the bursting of the Ponzl financial bubble was seen In a statement Issued by Police Commissioner Edwin V. Curtis Hi bs i ' i it had been called to the at-U at-U r.Hon of officials that members of th,. department had Invested with I Ponzl and that it was reported some I had acted as agents and received commissions Members found to have broken the rules regarding en-gagelng en-gagelng In outside business or accept-i accept-i Ing rewards or gifts without per- mission would be ' dealt with in the usual manner," he said. LIFE THJti: VTENFD MONTREAL, Aug. 14. It became j known today that American detectives I were hero looking for a man alleged to have threatened tho life of Charles Ponzi. |