Business & Finance: In Chicago

The sky was already streaked with light when, last Monday morning, Chicago's most prominent bankers prepared to go home, happy in the knowledge that a major crisis in Chicago banking had been successfully passed. Centre of the disturbance was the Foreman-State National Bank and its affiliate, Foreman-State Trust & Savings Bank. In these two institutions Chicagoans had left $199,000,000 in deposits, only $3,000,000 less than the sum which was frozen when Bank of United States failed.

For 69 years there have been Foreman banks in Chicago. Their founder was Gerhard Foreman, a Jew who came to this country from Germany in...

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