NEW DETROIT BANK BACKED BY R.F.C.: Joins General Motors in Control, Each Subscribing Half of $25,000,000 Stock. R.F.C. GETS ALL PREFERRED First Institution Under New Law Succeeds Two Unlicensed Key National Banks. 40% TO OLD DEPOSITORS Washington Plans More Reorganizations Under the Policy of Matching Dollar for Dollar. NEW DETROIT BANK BACKED BY R.F.C.
Special to THE NEW YORK TIMES.
New York Times (1923-); New York, N.Y.. 22 Mar 1933: 25.
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