Business & Finance: Bank Test

Wall Street wisecrackers had a merry time last week, chortling over some wag's remark that "next we will hear of the failure of the Gloucester fishing bank." But in seaside Gloucester, where an ill wind is one which comes from the big Le Pages glue factory, nobody saw anything comical in that remark last week. For Gloucester's oldest bank, the Gloucester National, failed to open its doors, freezing fast more than $1,000,000 of good Gloucester cash. Even in old New England Gloucester National was a hoary insitution in its own right. When it was...

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