Business: Clearing House Cleared

A banking decision handed down by a New York court last week gave pause to eleven Manhattan banks not involved in the litigation at all. Case was the suit brought by the U. S. Comptroller of the Currency to compel the members of the New York Clearing House to make good the losses of a fallen member, Harriman National Bank & Trust Co., which went under in 1933 as a result of the finagling of Joseph Wright Harriman (TIME, May 4). According to the Comptroller, the Clearing House banks had agreed the previous year...

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!