Business & Finance: Downtown

¶First big Manhattan bank to sell preferred stock to the R. F. C., Manufacturers Trust Co. last week took action, announced it would accept $25,000,000 from the R. F. C.* To prove to the public that Manufacturers Trust was just being generous to the Administration and did not need the money, President Harvey Gibson advertised at the same time that the bank's dividend, suspended because of uncertainty during the banking holiday, but continuing to be amply earned, would be resumed.

¶In Hartford the deputy attorney general of Connecticut ruled that Connecticut's mutual savings...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!