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Union Trust Co. at Madison Gets Schwenker When Calvin F. Schwenker, state banking commissioner, handed his resignation to Gov. La Follette it was reported that he will become president of the Union Trust Co. at Madison, Sept. 1. The announcement was made at the governor's office and Emerson Ela, director of the trust company, confirmed the statement that Mr. Schwenker would head that organization. Mr. Schwenker, who has been under criticism following the crash of the Franklin State bank in Milwaukee, was graduated from the University of Wisconsin in 1911. For four years he was cashier of the First National bank in Chippewa Falls. He was an examiner for the banking commission for 10 years and was made commissioner by Gov. Zimmerman in 1927. His present term would have expired next spring. "Glad to Have Him." At Chippewa Falls Thursday afternoon Mr. Schwenker said that he had no formal statement to make on the resignation. He said, however, that he had been negotiating with Union Trust Co. officials for some time. Mr. Schwenker was at Chippewa Falls on "official business" he said. The Northwestern State bank closed there about two months ago. The Union Trust Co. officials said that they were "very glad" to have Mr. Schwenker with them. Mr. Ela said that they had tried a year ago to have Mr. Schwenker join their organization and that he had declined. This year negotiations were again started in April and it was just within the last three weeks, Mr. Ela said, that the final arrangements were made. Had Been Under Fire. Mr. Schwenker had prepared a statement saying that he was glad to make Madison his permanent home and that he was glad to re-enter active banking. It is understood that the governor's office will issue a formal statement Friday. Thomas Herreid, deputy commissioner, will act as head of the department until a commissioner is appointed. Mr. Schwenker succeeded Colonel Marshall Cousins of Eau Claire as banking commissioner.