Clarence and Henry Beutel are brothers who learned the banking business together in Chicago, then went their separate ways. Last September, Clarence took a leave from the presidency of his own Chicago bank, South East National, to become acting Deputy RFC Administrator in Washington. Brother Henry stayed on in private business as president of three small banks. Last week both brothers were in trouble for the same reason: they were too easy with their credit.
Clarence, along with his boss, RFC Administrator Harry MacDonald, was under fire for approving a group of...
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