Business & Finance: Durant and the People

A bank with 300,000 "partners," none of whom own more than one share of stock; a bank whose President and Chairman of the Board serve without pay; a bank charging only the " legal rate for interest on loans," without affiliated or subsidiary companies; in short, a " bank owned by the people at large," is the announced project of William C. Durant, spectacular motor financier. Its doors will open on 57th Street (near the tire and motor buildings of Broadway, Manhattan), and it will be known as " The Liberty National Bank."


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