Business & Finance: Dreadful Thing

In Rhode Island bank deposits go to the State if they have been unclaimed for 15 years. In most States, deposits cease to earn interest after 20 years, must be left inviolate by the bank. Dormant accounts are a nuisance, an expense, since they require constant tracing, frequent publication. In New York State unclaimed deposits come to about $1,500,000 out of five billions.

Last week an enterprising reporter for the New York Evening Post scoured the lists of unclaimed deposits in an effort to find news. He discovered that a Down & Out Club...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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