Business: Gesture in Cleveland

Did the banking holiday end U. S. bank closings? Does the U. S. Government stand ready for all practical purposes to guarantee the deposits of the banks whose reopening it licensed? More than one dubious citizen asked these questions. Last week the citizens of Cleveland asked them in peremptory fashion. One morning they began to withdraw their money from several branches of Cleveland Trust Co.— Cleveland's largest bank,* with 54 offices scattered over Cleveland and neighboring counties, a bank that had reopened 100% immediately after the banking holiday ended. Suddenly about 1 p....

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