Clarke Crash

Many a Manhattanite last week began to think that putting savings in a sock was perhaps not such a foolish idea. Just as state officials were making a final report on last February's City Trust Co. failure (TIME, Feb. 25), their statements shared headlines with first investigation of Clarke Bros., another Manhattan banking firm which last fortnight closed its doors. First reports put the Clarke failure at $4,000,000, gave depositors hope of getting 25 cents on the dollar. Later it seemed likely that the failure was for...

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