HEARINGS BEFORE THE COMMITTEE ON BANKING AND CURRENCY UNITED STATES SENATE SEVENTY-THIRD CONGRESS SECOND SESSION ON S.Res. 84 A RESOLUTION TO INVESTIGATE PRACTICES OF STOCK AND S.Res. 56 and S.Res. 97 (73d CONGRESS) RESOLUTIONS TO INVESTIGATE THE MATTER OF BANKING OPERATIONS AND PRACTICES, TRANSACTIONS RELATING TO ANY SALE, EXCHANGE, PURCHASE, ACQUISITION, BORROWING, LENDING, FINANCING, ISSUING, DISTRIBUTING, OR OTHER DISPOSITION OF, OR DEALING IN, SECURITIES OR CREDIT BY ANY PERSON OR FIRM, PARTNERSHIP, COMPANY, ASSOCIATION, CORPORATION, OR OTHER ENTITY, WITH A VIEW TO RECOMMENDING NECESSARY LEGISLATION, UNDER THE TAXING POWER OR OTHER FEDERAL POWERS PART 12 Detroit Bankers Company FEBRUARY 2 TO FEBRUARY 9, 1934 Printed for the use of the Committee on Banking and Currency CONTENTS Testimony of: Awalt, F. G., Washington, D.C., Deputy Comptroller of the Cur- Page 5828 5791, 5807 5761, 5783 5482, 5490, 5515, 5553, 5591, 5629 Mills, Wilson W., Grosse Pointe Farms, Detroit, Mich. Murfin, James O., Detroit, Mich---- 5455 5811 Verhelle, Joseph F., Grosse Pointe, Mich., senior officer of the 5756 Wilson, Mark A., Detroit, Mich., receiver of the Union Industrial 5662, 5699, 5735 EXHIBITS (Italics indicate page on which exhibit was admitted into the record. indicates pages on which exhibit printed) Roman type 132. Statement prepared and read by Mr. Mills, 5490 134. Document produced by the witness containing bylaws in effect on Page 5484 (*) (*) 135. Copy of letter, November 14, 1931, Mills to Henry M. Robinson_. 136. The 12-page statement, dated January 27, 1934, 5516–. 5512 5576 137. The 3-page statement, dated February 3, 1934, 5516138. Photostat of five sheets of handwriting- 139. Photostatic copy of memorandum dated February 3, 1933, addressed (*) 5533 to Wilson W. Mills and signed "J. M. D.". 5541 140. A printed folder, on the front of which was a reproduction of the painting "The Buccaneers' 5549 141. A memorandum dated January 31, 1933, to Wilson W. Mills, from Donald N. Sweeny 5551 142. Letter from F. Howard Russ, Jr., to Wilson W. Mills, dated January 6, 1932, 5556_-. 5557 143. Photostat of letter dated October 14, 1931, from Wilson W. Mills to Hon. Arthur H. Vandenberg 5561 144. Letter dated Grand Rapids, Mich., October 15, 1931, from A. H. Vandenberg to Wilson W. Mills__. 5562 145. Letter dated October 16, 1931, from Wilson W. Mills to Hon. Arthur H. Vandenberg-- 5563 146. Letter dated October 17, 1931, from Wilson W. Mills to Eugene 5564 5565 *Not printed because of length or for reasons given in text. 5566 5568 Page 148. Photostatic copy of letter dated October 27, 1931, to the President 152. Photostatic copy of letter dated January 17, 1933, to J. M. Dodge from T. H. Newberry 153. An agreement dated May 25, 1931, between the Citizens Savings Bank of Mount Clemens, Mich., and the Peoples Wayne County Bank___. 5569 5571 5572 5595 5604 154. Copy of minutes of the Detroit Loan Agency, signed by the assistant manager, dated March 30, 1932_. 155. Copy of letter dated December 12, 1931, addressed to Mr. Wilson W. Mills and signed by A. H. Vandenberg 5605 156. Memorandum dated July 13, 1932, from Wilson W. Mills to Donald M. Sweeny--- 5609 157. A memorandum dated October 14, 1932, from Mr. Locke to E. N. Sweeny, president.... 158. Report to governing committee from subcommittee, dated June 14, 160. Copy of report, Douglas to Mills, January 5, 1932, in re directors' 5612 (*) 175. Certificate of deposit dated December 31, 1930, in the amount of $600,000, 5742 174. Letter dated May 25, 1932, from Alfred P. Leyburn to First National Bank & Trust Co., Pontiac, Mich___ 172. The letter dated February 21, 1930, from Commissioner R. E. 171. A memorandum dated October 14, 1931, to John Ballantyne and signed by Mark A. Wilson in typewriting---. 170. A letter dated October 27, 1931, addressed to Members of the Staff, Claims Department, Peoples Wayne County Bank, and signed "D. M. Irwin "__. 169. Memorandum dated December 26, 1931, from Mark A. Wilson to John Ballantyne_. 168. Memorandum dated September 12, 1931, from Mark A. Wilson to John Ballantyne_.. 167. Memorandum dated January 27, 1930, on letterhead of First National Co: of Detroit_____ 165. The articles of association of the First National Co. of Detroit, 5700_ 166. A letter addressed to Julius H. Haas, under date of January 6, 1930, by Mark A. Wilson, 5703_- 163. Letter dated January 20, 1931, from George A. Burns to Detroit 5689 5673 5675 161. A letter dated March 2, 1933, from Mr. Thomas to Mr. Mills, 5652-5633 162. Letter dated March 14, 1932, from John H. Hart to John Ballantyne---. 5681 (*) 5712 5715 5718 5721 5728 5731 5733 5735 (0) 176. Certificate of deposit dated December 31, 1930, in the amount of $1,200,000, 5742-- 177. Tabulated statement headed "Union Industrial Bank, Flint, Mich.", dated December 30, 1930, 5742-. Not printed because of length or for reasons given in text. 178. Tabulated statement headed “Union Industrial Bank, Flint, Mich.," dated December 31, 1930, 5742- 179. Tabulated statement headed "Union Industrial Bank, Flint, Mich.,' dated January 2, 1931, 5742-- 180. A photostatic copy of the minutes of the governing committee of the board of directors of the First National Bank, Detroit, Mich., held on December 30, 1932---- 181. A photostatic copy of the minutes of a meeting of the governing committee of the board of directors of the First Wayne National Bank of Detroit, held on Friday, June 10, 1932, at 2 p.m_-- Page (*) (*) 5767 5768 |