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Bank in Cleveland to Liquidate Assets Cleveland, Dec. 20 rectors the Standard Trust bank announced late tonight they have asked state banking department take over the institution for liquidation as protective behalf of depositors. The Standard, which will not open for business tomorrow, had deposits totaling approximately 14 million dollars.
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RAIL LABOR BANK IN HANDS OF STATE United Dec. Standard Trust Bank, the railroad brotherhood's first venture finance and assets exceeding $22,000,000 in 1930, was the hands of the State Banking Department today. closing order for the main office and the six branches expected the Sterling Smith is president of the The Standard Trust's last financial showed deposits of $18,633,998 and assets surplus The brotherhood said to have its "war chest" of $2,000,000 on deposit. This held for use in strikes and adverse The bank was organized in 1920 as the Locomotive Engineers National Bank Warren S. Stone, then head of the union. A merger, effected in 1930, absorbed the Nottingham and Banking company, Labor bank and the Guaranty State Savings and Loan The Standard Trust operated under charter no the federal system of Cleveland Clearing House association, BOSTON, Trust in the Charlestown district failed open its doors for this Officials of the bank said it had been under the the commissioner the request of the directors, The the missioner its total deposits of which in 11,092 savings accounts.
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Fruits and Vegetables The Atlanta market on fruit and Carlot last Maryon Florida: on New on CARROTS on California: on on California: LEMONS California: on MIXED California: 16 Florida: on PEANUTS Georgia: none Canada; on SWEET GeorFlorida: on 63; on track. diversions Bananas, oranges, seventy-two cucumbers, mushrooms, hampers: squash, fair the Atlanta fruits and vegetables were with prices holding steady. track grapefruit, oranges and liberal. to jobbers other extra and Virginia medium sizes Virginia. Grimes Golden 90c Ganes Black bushel, 75c: Yorks, per bushel, Imported, best large fruit, Red Valenreceipts, per dosDanish type. Texas baskets topped washed, pony crates, indi3-5 sacked per hunCOLLARD Virginia bushel Massachusetts New Florida sacks, all all dozen heads, mostly, Callyellow Colorado to Parson per box count, graded and sized. No. and found Bliss Michigan Maine Mountains U. No. round whites, $2 Canada 50-pound sack, mostly bushel $2 to Sacked per SWEET Georgia Porto graded Mo Florida basket carriers, ripes fancy count, few fair NEW YORK PRODUCE MARKET the New York uce Long Island 75c Idaho Maine $1.90: Canada to Berdmuda steadier: Jersey bassouthern $1 souther spring Pork, steady: mess steady spot (barrel) $6. Petroleum firm: New York refined Tallow steady: special to extra (pound). (common). quiet: Central AmerHides (city packer). aM grades Dressed poultry (cents to ducks, (Long Live poultry per pound) steady: fowls, chickens, to 25; caquiet: state whole faney 18c: Young America Butter market receipts. 6,950 Eggs market firm receipts. 35@37c: 8,448 cases: nearby state 26@34c: fresh firsts, 25@26c: whites, nearby browns. MONEY to loan In abundance on one of these pages. MONEY to loan in abundance on one of these pages. Bid. Asked. Con of Comp ctfs com Stocks Stand Oil Int units Bankers Industry British Type Inv Chartered Trust Foster Fixed Winmill Trad Leaders Leaders Priced Shares Manage Indust Manage Trust Bank Ctand Collat Street Trusteed Am Share Share 1-70 # In Hands of Department CLEVELAND. Dec. Standard Trust Bank, a comparatively small bank, was in the hands of the State Banking Department Monday. The Standard had deposits totaling between $13,000,000 $14.000,000. associated with any other Cleveland bank it member of the Cleveland Clearing House Association or Federal Reserve System. INSURANCE COMPANIES NEW YORK, Aetna Agricultural Consti Equitable Reinsur Reserve Surety Automobile Bank Boston Bronx New Life Excess Federal Firemen's Franklin Gen Alliance Falls Ins Ind Hanover Boiler Fire Hudson Ins Exp Indem Independence Fire Fire Majestic Maryland Cas Assur Plan Union Amsterdam Bruns Hampshire Insur Fire new Northern Pacific Nat Phoenix Preferred Pub Fire Rep Texas) Rhode Island Seaboard M Stand Accident Stuy Sun Transportation rTans Ins Travelers Westchester
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ASK LAW TO GET REST ON SUNDAYS Heights Realtors and Builders Have 232 Signers to Keep Houses Closed. BY JAMES G. MONNETT, JR. Cleveland Heights, which recently modified its life-long policy by mitting motion theaters to soon is to be open on fronted with the question whether to permit houses for sale to be open on that day. Shaker Heights and University which have no theaters, likewise will have the Sunday house display problem The Real Estate Board's Heights yesterday in at its meeting Wiles' Inn. up 165 signatures to petitions to the Councils of the three suburbs for ordinance protion viding that sign indicating that sign or other house shall be displayed open In addition 67 builders signed up Some ago agreement formulated to be signed by Heights realtors to keep both houses for sale offices closed Sunand real estate days. Only three of the brokers approached failed to sign, Chairman Carroll Hall announced there such large majorSince Sunday closing favoring the ordinance will be three in order quested of all to cover the minority and to compel the real estate salesman and the occasional builder to conform. Hall said the proposed ordinance of had been discussed the three suburbs and that was believed measure would be the despite some doubts expressed that an ordinance must close but necessary busion keeping houses closed Sundays and suspension of business as possible will be step restoring public said has been said by others real right to live other humans in We believe all but few inspect houses on other and that they will be people merely lookers The ordinance and agreement are not intended to prevent showing of houses in cases where Sunday is the only day possible for prospective customers to inspect them Heights Homes Bought. Papers have been recorded trans ferring large 2885 Court land Shaker from the Standard Trust Bank ceivers to Charles Ginsberg of Aetna Window Cleaning The house is an English type of brick twelve and five baths and basement Through Collacott Realty Inc Hanna Building Dr. H. G. Sheakley, dentist. has purchased from Paul Whidbee of Elizabeth City, N. brick single home at 2567 Ashurst More Farms Are Bought. Miller Realty Co. of Geneva has to made several more sales of farm and country estate property. bringits business to ing of transac for this year An farm Route 45 in Austinburg Township has been sold Hollister to Annette 644 103d Street Cleveland Howard and Archie Poole of have tract by A. E. Flack in Cherry Valley 50-acre property in New Lyme Township owned by Guilford Clark has been bought by Frank Valente. 5714 Mandalay Avenue N. The farm of Peter Carison Dan Slattery of Geneva, formerof Two other sales were: 26 acres on Route 84 Jefferson Township owned by George Sampson bought by Charles 20225 Lake Shore Boulevard and an tract on the paved road to Geneva by Foulk Theodore 3569 156th Street Doctor Cited for Bravery Dr. 111 214th the medal and the oak leaf decoration the United States War medal is awarded to cited for wounded his on in the World War
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Brotherhood Head Indicted. CLEVELAND. June Alvanley grand chief of the Brotherhood of Locomotive Engineers was indicted with two other men today for misapplication funds and false entries in the books of the Standard Trust bank Cleveland, which collapsed nearly two years ago.
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RAIL UNION CHIEF GUILTY IN OHIO BANK FUNDS CASE CLEVELAND, Feb. vaney Johnston, Grand Chief Engineer of the Brotherhood of Locomotie Eengineers, and Stirling Smith, president of the now closed Standard Trust Bank, were convicted by jury today charges of misapplying $450,000 the bank's funds and of making false entries. James H. Cassell, secretary of the brotherhood and former director of the bank, acquitted The verdict given by the jury nine men and three after fifteen hours deliberation. Johnston found guilty all but two of the eleven counts of indictment. The case involved guaranty the brotherhood $904,000 curities which the bank assumed when was formed in 1930. Smith Johnston, the result their convictions, are liable fines totaling $90,000 and to peni- tentiary sentences thirty years count. The Standard bank, formed in 1930 from bank of the Brotherhood Locomotive Engineers and other institutions, was closed in December, 1931, having that time more than $12,000,000 deposits. Johnston Grand Chief Engineer and Cassel secretary of the brotherhood. The indictment against three centered around guaranty the brotherhood made to bank the time formation. protect bank against worthless around subsequent transactions The State attempted to show the three conspired that brotherhood loan obtained from New York bank step toward fulfilling guaranty was paid off by the The contended the bank paying off an obligation which own, and that the loan obtained brotherhood from the New York bank the Standard bank.