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Is Unable Elliott, III, To Appear Before Jury Passaic Banks Probing (Continued from Page One) Securities Company, which has controlling interest the Hobart Trust, the Merchants Bank and the Service Trust. finally does result for taking the three banks, reported, They total $5,000,000 in the closed banks. Put In Receiver's' Hands The Jersey Bankers' Securiplaced hands John before reorganize affairs the holding after Harry forced resign president, and Nicholas Vecchi, Newark with large banking interests. The appointed under joint bond for $25,000. Their made Solomon Bernstein, Newark dealer owns 63 shares the securities' firm stock. Mr. Bernstein declared corporation endangered by the "incompeof firm's of the delegation of ficials for the bank's that the of the company tied John Roegner, Mayor PasHobart Trust and its branches, termed the place the curities firm the hands "fast stated that the sale bank was an important factor. Deny Rumor Although circulated that the People's Bank Trust Company's officials were "dickerfor the purchase the Hobart bank and branches, the rumor flatly denied the People's bank. Commissioner Smith declared yes- that he of the opinion terday that all depositors would receive dollar for dollar deposits. Something of this apparently shared by Harry dent Trust Passale, which would lend depositors had savings accounts in the three banks that closed up per cent. amounts shown in their pass Commissioner Smith stated that preliminary examination bank's revealed no acts negligence officers the capital $300,000, was the of closing of the bank. United States Senator Edward who president of the New from Paris that the news the Hobart Trust Company and its being closed. Edwards that had he anything that happen he would not sailed France. He stated that he would postpone Swiss until he received full report the Weinberger, who will appear fore the Grand Jury today, criticized methods employed by Stamler he, Weinberger, had ousted. In statement, which was 2,000 words in length, Weinberger declared "polities" sponsible for the of the curities wards agreement free him from future claims ment obligations the time of the of the that liott's kidnaping, which started on the Hobart bank and its been plotted who sought discredit the bank and depreciate its value.
