Magazine content is available exclusively for TIME subscribers.Business & Finance: More Bank Trouble
Two months ago Security-Home Trust Co. (deposits $27,000,000) collapsed in Toledo, Ohio, frightened bankers. Officials of three other big institutions put restrictions on withdrawals for 60 days. The time was up on Monday, Aug. 17. Last week, 48 hours before the time was up, the same officials said the three big banks, though still solvent, would not open Monday. Solvent in normal times, they feared there would be ruinous runs at the reopening, as business conditions have not improved in the last two months.
The closings brought to Toledo as grave a financial crisis...
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