i...aavc tht ln,titution it he could. •ri•i the money of the d"!po1h

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Page 1: I...AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h

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Page 2: I...AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h

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Tl'lt Rev. Father Ch.nrles & Coo&:;hlin.

the rolitit:cl radio A•rillnt.urr. wcnt l:ar beyond hi1 u.!lu:sl fi.tmboyant dcm~i:o&ucry

in hi1 Sundny ;afternoon add:c1-c.

Thlit nu1.n. who Alre.idy l tt1,nJ1 rebuked

by 11 C1rdlnnl of hi' Church lot h is

politic~l activhics, ahcr 1londcrina the directora ol the hvo outuandinr b:i.nl!in:

group& of Detroit, directly c.har1cd tll:l.l thHC holdirti" comJ>"lft1tt v.·crc orga.ni%ed

to "'<he.at thC! widow, rob fhe orph.an "1nd to oppress the poor .. : th~t they were

, crc.'lcd to csc::ipo posaibility or double

liability In c:iac their bank1 failed. '-

Aa to the 1ncn tis.s:.ilcd, the l ist o f their·

n:unc11, printed elsewhere:, b sufficient tc t1 timony as to thelr characttra.. They ~re knO\Yn to .all Detroit. Let thc- people

jucl:t bttwc-c-n them -.nd the dcmagoe: Couc.hhn..

1'.f.1ny of them arc outstandinr mcn1bcts

of the C.atholic fnith; in (~ct, pillars o( the

' Church (ro1n whose tc.:ichini Couch1in h~s Wl'lndcrcd so far •lidd.

They have been the l11r;:c-11 contributon 10 the Church and ,.,,ere carrying its burdC'nl when Couchlin w•s 1 boy in C.1n:tda. •

l\s for the organiution ol the ho?dir.; c:o1nrani,·. to doJ:c lial>ility, the law it~clf wifl l'ln1,vcr th.it i landcroua uuer:ancc.

ny no r.trctch of the im:icin:nton co11ld

double liability be d0<lncd, nor has there

bt'e n :iny 1uch idea on the p11rt or the

hotJer1 of Dclroit &nkt'rt atock or ol th:u o f the Cu•rdian Group.

The lll1orne>'1' fOT the United StatC'S

cont«"IAtOn have nude th.at quht clear. Nobody h confur.t'.d by h except Couchhn •nd those he seek. to dupci.

Ju•lt::o Robert S. M arx, J1'cdor1I c:oun~cl for Con<1crv1tor C. 0 . Tho1na.1, of th e

P lrat Nctlonal B~nk·Dotroh, frequently hAa cxpll'liucd the: liability of atoc:lcholdcra in holdin& corr.pa.nic:s.. Ht u id :

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Montlay, Marc

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a .. .anlts upon J::. D. S1~fr. the f'1Jbii.s..\cr ol The Octr0it Frtt r..r"

I ff dint bC'hind ht, pnc,lly tirh, u~u~r. the atrc:n-;th or the Church to ~ivc: him rrcat1::o. Ccuc!11in pull:i tht' c:he1unuu Ol:l

of t ho fire for politic:il And noWJ(l:'lf'ICr

intcre111 the Free Ptcns hat alwzys con:b;ittc-d and n1w.1yt \viii.

The tn.nh of Mr. Suit's conne<tion "·ith the: Dttroit B:.nktts could h111e bcm cuily found tf C-ou~,ldin had bttn ceclclnc the: iruth-wh:ch he \7:tS not.

Thero have been three 1>rc-1icfcn11 or the

Detroit Bankers.. The rirat \\'11 the l:ttc Jullua 1'10;1,s:i, 'vho concc1ivcd h nncl ort""" fled It. T he n:"lmc of Mr. Jf;i;oi,~ neccJ~ no

defenders.. Ahcr his tr:ttlc:lly unti"nely

death, the presidency " 'C'nt to John 8'111:\n­

tync. Upon his rcsic-n11tion. hlr. St-:'lir

was induced to uke the prc1idency by the other directors of the comp:.ny. This w~s l•st J.l ay.

t.tr, Stair took the office whh g,rc:.t re-. luCllnc:c: aud only on tlte \Jftlne; lh:i t it \\'Ill A c ivic duty. He con•entcd 10 serve only on the: condition that thtrt would b~ no 111lry Attached to the OffiC.o.

JI.Ir. ll11as.1 was p.1id $100.000 A yrar. Mr. Jblbntync 'vas. j>:aid $l0.())(t, lofr. Stair rc!uSC'd to ,«t'p: a ctnt. Jft took the o!fi..c-c only on the: ncrct·ncnt

thlt the hol<hng c0t11po.ny ,. ouhl b: l~t•le tnorc th1tn nn auditi11;: c:onctru to cut duwn the cxpc1111c• of the con•thuctu 11('1d!...~. ThlJ w~• 1'1eeo1nplished by 1li'\1hi11r. mil­Jlon1 from the ovcrhc:td l\1ld r educin g a ll cxecudvt' 1:.l:iri~.

lie \•c:nt in, :lJ?:ainst his own de ... ire. to uvc the inJtitution ir ho c.ould, and the money of the depositors.

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The dcm.t$Ot Couihlin. r:ivinr: ovtr the r~dio (or two yc11.rs with hlt au:acka on the b;,nks. did n11teh to brinz :about thci prC'~Cnt condition. I le robbed tho pcOflh: ot c:on­fidencci ln thc•c directors i:inJ their b:ullt5 nu•I wa11 one or the chief c1n11"'ic or wh h· dr.c1wnl1 o f fund• front t hcru durlt1J: ' he p31t t\YO yc:Ar• to a t otal of ovc:r \WO bun· drcd nlllllon doll.1r"'

And h it lroni~1l7 true tlut "hilc a prlt•t of the Church did hi• but to

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Page 3: I...AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h

•" Vfll"'- •JI l••t l'O'>f : th:U lltty WCTe CTC"'H«"d to et«po pottibUity or double Uabilit1 '" C1'Je thtlr banks railed.

A• to t he mtn •su.11-cd. the li1t of their· namn. printrd elMWhC"rt. j , ,i.ufftc:icnt tr•tfmt1n1 •• ,., lhtfr char•ctcr•. They •re knO\'tTl fo all Dttroit. Let the ~pie juf'lr.c hetwetn thtm •nd the dcmaiot:: Cou;:,hlin,

1'.f:1n7 ot them .11rc out11tnndlnr mC"mbcrl' Of the C.itholic f1'hh ! rn /f!Ct, pfllAnl o( dtc Church rro,n \vhette ten.chinr Coushtlrt h~.s \v,indcrcd 10 '"' "field.

T hey hnvc bet11 the ln.ri:icst co11trlbutor" to the Churcl't and \vcre c.arrying- it11 burden• whtn Cou1hllll Wl'l'I a boy in C:on:ut11.

l\s for the or~1111h:1itlori or the hol~?ng coinrani:.i. to dod;o Jlnbilhy. the Ja,,. itst'lf ,..,£JI "-"'"'er thltt 1l1ndcrou.s \lttcra.ncc. By no a-tr«-tch o( the lma:cination could double liability be dodJed. nor Ms there bttn any auch Idea on the part or the holders of Detroit B11nktn ttoc.k or or th.it of the Ou :udi.i,, Croup..

The attorney• for the Vnit«I Stiatt'.J con"\t'rvatorit h11ve m:icJe th11t quite cfcar. Nobody it c.,nfuwed by It except Coughlin ""'; tho,c: he 1eckt to cJup•'.

,.. Ju<li:re RoUcrt S. Mnrx. Fedcr:.I counj!cl ror Con!lervntor C. 0. Thon11,~. or the Fin1t Nntionnl Bnuk·Dotrolt, ( rcquenlly

I hall c~plalrirc.1 the Unblllt)" or stockholders in holdine: co1np11nit1. Jlc Mid:

••The rroccdure In such c:ai:es is to obt:\in 11 judcrnent 11r11inst the holding corporation. Thtt tntitlta the c.ons-!'r­~·<itor to dl•ro•c of h1 ft.JJ~ts. It "'htn thC"c ll~Cl'l hit'''" been di.1>poscd of. lhcre .:!te "till in•umcicnt Cuntl• to m<et de· ~it ors' dtfMnds. au its, n•'Y be in,t1tuiC"d ~(;Jin•t th< stocJtholder• O( such ~.hold­in#: comriny. Tht11- ,,-,,, the procedure in tht <1t<1:e o( the 81tnk of Kentuct;y. liquidated by Fctlcr:.I recelvcrt 111t L?Ui"l­villo:."

Juditc r.r,inh f:. W""Od. coun•cl for Co n11orv.itor .9, C. Schm1n, of tho Guilrd­i.11'1 N.itlonnl 1)1'!nk o( Co1n1ncrcc. h:1~ concurred In thl!l oplnlou. ,Judi:;e Woori ,.nid:

.. In the Ctt'lc of lhc B1111lt of Kentuetn'. the holdin,'1' c.01nr~ny'1 entira inl('rt-;t nmountcd ti) 11bout 70 rcr cent intcrt'•t i"'I \he b•111lc. \Vhtn ju1rmtnt1 u•cre <-l'lt:"tincd •r.ttln•t t!1e•c •ll')(ltholfler"- 10 per cent o( the 1u11ount colfectC"d \\.,,. tttrncd O\•cr I" ~c~h"" In the b."ln1t. Th~ ret1\.1l11fn( JO rer cent \'rt'nt ,., i11ub­d•!i:'l'rie• o( tht hol..,inr. COff!J'""1·-

Thc rolhicit 11nimu• 1tn1 the alni~ter r c.,....p.,rcr i:iOuenccJ r.uitlini; 1:.,.11u·r Cou-:h!i11 Pre "lh")\"1n in hl1 bhttr rcr-on.il

•tUu1- ·•'l\.i1 ltO \PIP• ttOI,

There Mvo beitn three l'ret.it!cnts of th-: Detroit r.•nttcrt. Tho Grst \"111~ the: 1 .. 1~ Jt~Hu• HaPU. who CMCC'lwcd h rnd O!"C:tn­lzM It. The name or I.tr. lh1.a•• ""('ff".,.., dcJC'nt1er-. Afttr hi• tniclulf7 untimC"Jy dt~1h. tht pre-1d~ncy •mt t't Joh., A:'llio, .

t7nc. Uron hi• rt,fcn11tioo. J.fr. St:iir w-.,~ intluccd to take the rtrc•idcncy .. , the oth"'r dlrcc1or• of the comp:inr. This wn$ last M.iy.

Mr. St11lr took 1he omc.c with itrt-111 r~· luct11ncc nnd only on Ille uritintt th.it it wa1 " civiQ ctuty. J le con!\cntcd to :ccr,·c only on the condition tlu1t thtr\'I \\·ou lcJ be no a11lt1ry •lt~chcd to the ome ...

Mr. f-111.1111• Wiii ,,l'lld S I00.000 a y~:ir. J.1r. R('ll1:intync \Vllll r:iid ~'l0,f)CO, Mr. Steir t<"h111t'd •o iccrpt " ccnl. J-{-: IMlc t I"" f')O'tte 011fy 011 \he iif!rt't111t'nt

th..,t the holc.lin~ C"n1p.ny , .. 0111•1 b'! hUlc more thJOn ftn tuditi"C t4>n-:crn to cut do-t"n th-e expc-n~• ol the con,tituent f:.n..'lics. This w111 •tcompli1hM by ,Ju.hi~ miJ. lions hom d·~ overhe.1d and rcdUC"in~ ;iU CX('(\Ui•c 11112fl('11..

lie \YCnt fn. •t:.\in•t hi• o'"" dt"ir<'. to AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h<'n.

The dcm.i1:oa Couchlin. r111vin~ ot·er the r11dio for two yc:ir1 with hi• att:.ck1 ~" the b.,nks, did mueh to hrint :thout the prtt'Cnt condition 11 c robbed the rcoplt' C'f con· lldencr in tht"IC director" nnrf their b:inl:' -.nd Wiii' one o t the chir( cinr.r1' o! with· tlrnw.1h1 or ru nd"I frC11n t hcn1 durln1: th-: p:int h \"C> )"Cl'lr.t1 t l\ n tot11l of ovtr t·::o hun· drcd 1nillion dollrir ,..

And It i$ lronlcolly true 1h1t ·Nhilc :, ptiea.t ot thr Church dltl hill l•ctt~ tt­dc1troy the F lrit Nl\tion11t R:"tnh \•:ith h;s r:.dio Nm1N"'· t'1~ Church he 1n:,,. rcpre•~nl, ,.,., the liorl:t''t •ini::Jc #lrhtor to th.,t :n~hutio1,.

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Ont' o( 11:,. 1n ... ln rr .. "on• (or the ~into:·,. • rt-t•bl""' \.-:t1 the l~t'" 1h11t h \r-iC'fl tt­c-rf' 1hc lo.:id of th-f" Cl'ltholie ni ... cr."te·, deb-t~-·~011~ '"ith other churchr•. fr.l· :crn."'I Nodir• 11nd. 11bovt :ill, the ln1nd"~c!• of tholl'"~~d• of hcn,c• and li•lte l-uJi· n~*C".

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'tht tlirccto·• of th:n intttitutl.,.n. , •. ilh 1n.1ny .,f lht' Jeit11nr: c.ittv .. lfc hr1•te11 in Oelr<-h (lf1 h• l~-1rfl, conititl<'r~d t h<' Cnlholic CIHlt"h \ ht n11c11t ri<lk l hnt :iny h:111 '< co11!1I tn!tr.

The,v !'tlll ,1,,, Nt1hndy J;11nu"'I !11:11 0<"tt~r thin nl1tho11 Citill:!r: hcr. t•:h" I• $t1ppo,ccl IQ h ·1\'CI 111>111c 1lr1:1ee C\£ ce-nlrf'I O\'('r tho noy.il Onk nrc1•1 t'n•I,

nc:irl the 11110('1 of lhr·:c tllrr(t('lr-1. 1''ht'y Mt rin the ~' ' ' · 1 ""r t-lected

1~1r. ~l'lir nz:!'lin11\ hi• tt•\1t dc,iu·'· Jlc h:ttt h:cn '1t1r.1e1t l)Ul (rir "tlicl: 'or

viciou• l)t>lhlcil r\•rro··""· The Church '• l~ln;: tt .. irotl '" *'""''"

C'nd"... If Couehlln "r,"''(' r• , •n"'n :-n•l -u·:rt' "~' " r•l~•t. ,.,. tl1 '"" r'"C""lir:i: ,.., ht .. AfTice If' t:h•t hi.,, r .. f\.,,in('l'j((', h~ ,.,..,,1ht nnt he- l'!tt~netf '~·

Jlow I~:-"''" tht.- ttcl.,.·t1· f .. _ .. , "'""Y L""r. ti~ "ll"wetf lo\ sl1"tt1f..r d~rnt ,.itii:.tn· ,,, tlii1 rl17 In 1ht ,..,.o,. fir c .....

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Page 4: I...AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h

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:STOn£ 11our.s 11)0 A. M. l• 6 r. ~t.

OPtH hLL DAY SATUnOAY

Clean-up! Suits!

Overcoats!·

Cast your eye on the bargains in our END·of· SEASON CLE A N. UP of SUITS and OVERCOATS!

All tailored by hand in our own workrooms. All from our regular stock .

SUITS Year 'round weights.

Summer \Yeights .

833 were SSS ~41 were SSO 968 were $45

$35 now.

c~ughlln 'Get~ Full /' .. npi·oval 4. O.f liin U.is!r9p

-----· ,\J1·t'li' (;:,lln::l11•r. Ur111r11io;.:

r.·.uu ' ·111 ic·nn, ~ltt" Lr:o·u.~ '£" c1·y1hin/;i'.·,1:11ukrclur,·'

Go('~ lluiuu to lhc Wa"'

Call• ~f:tjur J•ar1y ChoirM •y rbol ir.At"i<I, U:atPoU.on'

Wit'- • ... ........ • ,.;..,.a.1 • ! )lb

.w.i.,, 11 .. 1.,; '• Ile. .. .._ ue nn. C-.r ... a I ~hll• Wtft\ ....... ~ a.ncht.=oaa ,..,, •t'-'-' '° ,.. .. _ ,.._ .. (llOtlttr•I ,..,.,._e.;-":•1 •Pl~\ llatll r'ff'tlCl,.ft t ft-ftlt .... Qoff'rllllll' At• t1f'1f, ll- LAMM U14 In w:.-1: Ol ""°PN'klHAllYe "'llli.,m Lf'mkr. Jn 111 H•tn ot lnll'tt'lt''Kll l'lb lmmtdllle •·•fltllor tn t.111 ~trnrcll , n 1:it1t1r lit· ch"'' J. 01\llA:thfr M DtUo!,, 11'1,1.ottcl upoft hi' 1c1unt ltf!u\ nomir )'Ulrrd117 Of\ U\O 111111111 llnrr Rf'lC '111H '"""° or "'' Va!kH\ llUth1.rlllr• h .... ttVll· Ut)n<"d 1-illlvr Cou;l\lln lo h !m llurln; hla .,.,.

No HtUJJIUOn• "''"" .'\tl'wtlf'tl IU•d bf'f'n lfttclt •t.+hal f'lthrt CP.U':hlln In "°"''• lb, H~ •14. • Clclllt: '"'"t lNr• '""""'" t '"' t'JlJofl .. •:-.u .. ~ \he llfW.l '«tie tlllli' kCft M0tt l'"" C.-CT a ff'ftln flt CIOnlf'OttO·f .a11itt Mt llP­lli)rd ,.,. ........... ,-- \0 rru.t6t•' h"°""Y'tlL. l)Dllll U1.a •IAMlp -.ne thr ...... ~ Wf'1T c11o.....ut I• \ iwtr ft"lf1Y­~ 1n. ,.,~, •ulac J~,.-. M 'ICll'Jll IAVO ... ._

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Page 5: I...AAvc tht ln,titution It he could. •ri•I the money of the d"!po1h

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bnr~~1in» in our l·:t~U·o(·I::,,~:, 1!~.'..,!:.!n ... m11.; >··~,.,....,, . .,. SEASON' Cl .. 1{ /\N-UI' of . ,.1...,11 .. ,,,,. ... t:•t ,. ... ... ._ .. •

SUITS and OVltRCOATSl .o ... , .. .,. ... ,u ruhf'r e111 .. !l 11

All toilorcd by hond in our O\Yn \'1orl:room1. All lrom our rr:11lar atock.

5UITS Ye" 'round weights.

Summer weirhu.

833 were $SS 541 were SSO 968 were $4S

nO\V,

OVERCOATS Fall weights.

Winter weir;hts.

279 612 385 643

were were \YCrc were

$65 $SS $SO $45

$35 now.

OP£11 ALL DAY SATURDAY

4o .. tthul Uol' 4 :\Cllklm ""t•fflll t:c• ,.. 1,1' ..... 1 .. 1it•<111 ....... "'"t.ot-lo

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"' mu,-.. ,..., l 'tt •11 1\ I•• dh.:.11t: tlllott .... ,..,,,,.,lo_." '! •I-. Ut.,.,....i;:, ...,.,..,~ (-_..t •11 ' "' )o.rt,•n A .... tr" ._""' tto- ,..,.....,, .. .,., ..- tM 1:ruwJ1• O"'tr1'Mt•~.

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TO • ,.,_ .. .,., .,_,lti-'t ('•ttbllri'lt tMIOWr,. In "''"· l"UIOll• I 11ftltlft , .. ._._, Juioun whe 1obl'u4I u 1tw­r.,, •tit• Utt prtb~ d1•rNllllr'lM " ""' 1~1'1 llftl'r In C!l"mlJC'ftJ wtt tl t!I# llf'k.U, •flrl blltt Cf'llll 114'•" tt.11• IJ.IJ to ttHl tlJm •l Qulr1nU11•, OhhOp 0•11,oll'l"t Mid:

'"I 111t1 tl•PPJ to ""*' 1t1L1 pt1W1t ,.t lllf•Ht 10 71to11r ll"INl•r'. hth'"I' COYlMln h u1 t1•1l•l1ndlnr; r l\1urh· """ ... " ''"' \ !Jiff "" lhlrHMI In br tnllllOfU. h'll 11\t ~I'll ol 0"11 l h ,\t t"IN~\ II) to\U ftllfll lhll "''' llll'll l M OC ftotal 0 •11:. 11:1111 MIMlllll II. "

,,.._ t•t UtnW l""""-r ._, W ,\..Ill I! I !C(tti)...,, ikpt . .S.-1 '°"' O. "nl~u. ta lib t•J

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E\·cry 111orni11g 1hc °NC\\' York llcr~ld Trihunc'• Classified l'~~e is nn np· I•" dare sis;nbn:ird f11r posirions in onircs and in lhc ccchni· col fields. S1.1r1 )'nur mnrn· ini:• wi1h • i:ronce ill thote J"roficablt Od\'CtliSill)! <Ill• \1111 111. s~!"~ or tod ~r·s jobs

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MLIYll 19111 4~'7 .15iFILLlo;A~ /'

"' 1An No uovE oN THE i>1t1oi T FREE , .. a sr1r •A••Hi.LE E IS QETTllt. TNE LIVllll HELL BATTEB OU~ OF HIM STOP ·......_ llC .. EITLT THE FEDERAL JIDQ!SHIP IN D(ll81T IS llDE OPE•

~-_._,._ -AID IASHllGTOI IS CONSIDER llG THE APPOINlllENT OF A YOllQ ._.... •Al 1110 IOESNT KIOI THE DATE Of CHRISTMAS STOP I HAVE A 10 IHO IS 011 OF THE EllllEIT ATTORNEYS. Of MICHIQAN AID A REPIBLICAN IHCI IS A REAL COIVERT llGitOVER HE IS

fl'llLLING -AtW DESlllES Of IR I NG !NG THE N-ECKSOF THE -- --'ADMINISTRATIONS ENEMY AROUND MICHIGAN QIVE ME A RING 1

EITHER TON;GHT OR TOllOBROI NIGHT AFTER ELEVEN THIRTY 01 - -ELMHURST 6450 STOP I llLL GIVE YOU HI S NAME AND SEE If

YOU CAN GO TO IORK• ROYAL OAK MICH. ,

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