RESOLUTION TO INVESTIGATE PRACTICES OF STOCK
EXCHANGES WITH RESPECT TO THE BUYING AND
SELLING AND THE BORROWING AND LENDING
OF LISTED SECURITIES

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

CONTENTS

PART 10

Blair, Frank W., Detroit, Mich., president of the Union Joint-Stock Land

Page

4759, 4797

4965

4707

4904, 4962

4655, 4677

4924, 4934

Kanzler, Ernest, 2501 Iroquois Ave., Detroit, Mich.

4587, 4624

Leyburn, Alfred P., Lakeshore Hotel, Cleveland, Ohio; chief national

bank examiner, Fourth Federal Reserve District 4615, 4618, 4625, 4641, 4699
Longley, Clifford B., Grosse Pointe Farms, Mich.

Lord, Robert O., 3974 Penobscot Building, Detroit, Mich_
McKee, John K., Chief of Examiners' Division, R.F.C.,
D.C

Mott, Charles S., Flint, Mich.

Walsh, James L., Detroit, Mich

Wilkin, Herbert R., Detroit, Mich.

4807, 4823, 4860

5026

Washington,

4722, 4731
4877, 4887
4989

5017

EXHIBITS-GUARDIAN DETROIT UNION GROUP

[Italics indicate page on which exhibit was admitted into the record; roman type,
exhibit printed]

65. Photostat of letter on letterhead of Second National Bank & Trust

Co. of Saginaw, dated Apr. 28, 1932, from R. Perry Shorts to Ernest

Kanzler...

4604

66. Photostat of letter on letterhead of Guardian National Bank of

Commerce of Detroit, dated Apr. 27, 1932, from Ernest Kanzler

to R. Perry Shorts..

67. Letter on letterhead of Guardian Detroit Bank, dated May 5, 1932,

from Fred T. Murphy to Ernest Kanzler_

68. Photostat of letter on letterhead of the Capital National Bank of

Lansing, dated May 23, 1932, from F. E. Gorman, president, to

Ernest Kanzler_.

69. A receipt dated Dec. 11, 1930, from the Guardian Detroit Co. for

$5,000,000 of securities loaned by Mr. Ford___

70. A note dated Mar. 9, 1932, for $1,000,000 at 6 months payable to the

order of R. O. Lord, agent, by the Guardian Detroit Co--

71. Photostat of a letter on letterhead of Guardian National Bank of

Commerce of Detroit, dated Dec. 22, 1932, from vice president and

cashier to B. J. Craig, secretary Ford Motor Co., Dearborn, Mich

72. Photostat of copy of letter on letterhead of Ford Motor Co., dated

Dec. 28, 1932, from Ford Motor Co., by B. J. Craig, secretary and

assistant treasurer, to Guaranty Trust Co. of New York..

73. Photostat of letter on letterhead of Guaranty Trust Co. of New York,

dated Dec. 29, 1932, from William L. Kleitz to Elbert S. Burns....

74. Photostat of letter on letterhead of Guardian National Bank of

Commerce of Detroit, dated Dec. 24, 1932, from Elbert S. Burns,

vice president Guardian National Bank of Commerce of Detroit,

to Guaranty Trust Co. of New York...

75. Photostat of letter on letterhead of Guardian National Bank of Page

Commerce of Detroit, dated Dec. 30, 1932, from vice president and

cashier, to B. J. Craig-

76. An agreement in letter form, dated Dec. 16, 1931, addressed to the

Continental Illinois Bank & Trust Co. of Chicago, and the Bank-

ers Trust Co. of New York City, signed by Guardian Detroit Union

Group, Inc.

4674

4678

4685

4755

77. Photostat of agreement between Ford Motor Co. and Guardian De-

troit Union Group, Inc., dated Dec. 29, 1932.

78. Original pencil sheet of requirements as prepared by Mr. Kanz-

ler 4738-

79. A tabulated statement headed "Status of Loans made by the

R.F.C. to banks in Guardian Detroit Union Group as of Dec. 19,

1933" 4753..

4756

80. Statement referred to, prepared by the witness, and read into the

record by Mr. Pecora

81. Photostatic copy of letter dated Aug. 21, 1929, from Frank W.

Blair to the stockholders of the Union Commerce Corporation.

82. Photostatic copy of letter dated Aug. 21, 1929, on letterhead of

Union Commerce Corporation, signed by John N. Stalker, secretary,

and addressed to the stockholders of the Union Commerce Cor-

poration.

4791

4792

83. Letter dated Apr. 26, 1932, addressed by Henry E. Bodman to

Clifford B. Longley, president of the Union Guardian Trust

Co., Detroit..

84. Statement entitled "General journal and statement of condition"

Union Guardian Trust Co., Feb. 11, 1933-

4816

4825

85. Statement entitled "General journal and statement of condition

Union Guardian Trust Co., Dec. 31, 1932

4825

86. The intra-Group and interoffice memorandum dated Jan, 16, 1933,

from E. C. Harris to Frank Maurice_

4831

87. Memorandum referred to, dated Jan. 12, 1933, to Mr. Frank J.

Maurice from Mr. E. C. Harris_

4834

88. Photostat of intra-Group and interoffice memorandum, dated Jan.

24, 1933, from E. C. Harris to F. J. Maurice_

89. Photostat of paper dated Jan. 17, 1933, to Henry E. Bodman from

E. C. Harris.

90. Statement entitled "Union Guardian Trust Co., withdrawals and

deposits, Jan. 1, 1933, to Jan. 28, 1933 ".

91. Photostatic copy of sheet entitled "Certificate of deposit with-

drawals (Feb. 1 to Feb. 11, inclusive, 1933)" 4851-

92. Photostatic copy of report of examining committee of Union Guardian

Trust Co. as of Dec. 13, 1932 4855.

93. Photostat of hand-written memorandum from A. Quay Beyer to

Frank Maurice, filed Apr. 18, 1933.

94. Letter Oct. 23, 1933, Mott to Covington.

4836

4837

4840

5056

()

4873

4918

95. Photostatic copy of the opinion rendered by attorney general of Mich-

igan, Jan. 27, 1931 4967

5012

96. Photostat of a letter written June 17, 1930, by Henry E. Bodman

to Paul H. King, referee in bankruptcy, Detroit, Mich. 4969

97. Photostatic copy of intra-Group memorandum dated Aug. 27, 1931,

4970

to Mr. Robert O. Lord and signed by Mr. Henry E. Bodman_

98, 99, 100, and 101. Photostats, debit and credit slips..

102. Memorandum dated Jan. 31, 1932-

103. Photostatic copy of report of condition of Union Industrial Savings

& Trust Co., Flint, Mich., of Dec. 31, 1931 5006-

104, 105. Photostatic copies of documents captioned" Union Industrial

Trust and Savings Bank, Flint, Mich., General Journal

Ledges and statement of Condition" 5007_.

4977

5002

5004

()

106. Bulletin no. 2. Jan. 2, 1930, Guardian nion Group. Inc., 5031.

107. Letter Jan. 6, 1930, cashier, Bank of Hamtramck, to Lord__

108. Letter dated Jan. 9, 1930. from Robert O. Lord to W. E. Dingman...

109. Intra-Group memorandum, dated Dec. 10, 1930, from B. K. Patterson

to J. N. Stalker__.