Tremont Trust Queer Loan Deal
Tremont Trust advanced 656000 for an apartment house scheme despite a 40000 per person limit. It gathered 28 straw men, deeded portions of land to them, split the loan among them, then the straw men returned the funds.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 24, 1921
Page
1
Tremont Trust advanced 656000 for an apartment house scheme despite a 40000 per person limit. It gathered 28 straw men, deeded portions of land to them, split the loan among them, then the straw men returned the funds.
Bank charged eight percent interest and advanced sixty five thousand dollars. allegations claim use of straw men to evade law aimed at limiting large loans for small banks. The deal involved over half a million dollars and tied to the Tremont Trust Company closing.
Committee hearings reveal intense intra club politics in the federated women’s groups and sharp charges against the moving picture industry. Critics accuse trickery, repetition, and ignorance of law and procedure as the discussion over censorship bills dominates the session.
Four men were arrested by the Back Bay police yesterday charged with tying up and promoting a lottery. The suspects are William McNally 34 of 2 Wellington street Bernard Hyman 26 of 74 Myrtle street John Glass 34 of 63 Astor street and Abe Welesky 27 of Cunningham street. McNally and Hyman were taken at 135 Massachusetts Avenue and the others at 1032 Boylston Street.
Miss Gertrude O Connell 26 of 112 Halley Street Northampton died of heart disease after sudden illness opposite 109 Massachusetts Avenue. Her mother Mrs Mary O Connell and Miss Ethel O Connell of Waltham were present. The Boston Chamber of Commerce led a broad coalition of labor groups boards of trade and local department stores in opposing repeal during yesterday s committee hearing at the State House.
Lincoln Filene, leader of the opposition, testified that the chamber desires to preserve the daylight saving law. He asserted the measure reflects the chamber’s position and urged the committee to uphold it.
Washington Feb 23 organized labor demanded by Congress a law declaring labor organizations are not partnerships and shall not be so treated in law or in equity. The declaration of principles was adopted tonight by representatives of national and international unions affiliated in the American Federation of Labor.
Springfield report says Mrs Pauline Smith sustained neck wounds after an alleged attempt on her life by her daughter-in-law with a razor. Colonel Charles F. Lynch of Mercy Hospital terms the act an unsuccessful attempt at death by own action as the complainant was admitted following the assault. Contd on page 2-4th column.
An all day conference led to the approval of a declaration. Details continue on Page 1-3d Column.
In Topsham Vermont on February 23 J R McLam hunted all day with dogs but his wife stayed home and bagged the fox for eight dollars using only a stick of wood. The fox, exhausted by the wet snow, took refuge in the kitchen where she killed it.
Concord Feb 23 Mrs Mary L R Farnum of Boscawen one of NHs two women legislators delivered her maiden speech in the House her brief remarks of fewer than twelve words declared her committee on schools unanimously opposed to the Manchester normal school bill and spelled death for the measure.
In the Balboa dock, a vessel admission freed a school of fish into the canal zone. Workers took 490 pounds for 11 cents a pound and 2 to 3 tons were dumped overboard by crane. Most of the fish reportedly recovered and swam away.
Dublin reports three Royal Irish Constabulary officers at Dublin Castle shot by civilians near the gate. Two were killed and the third seriously wounded, authorities said by the Associated Press.
Belfast dateline reports a Mountcharles ambush in County Donegal last night killed two policemen and a young woman. The woman's dying body was found in a yard today and she had been shot through the heart.
Fighting lasted about thirty minutes with two attackers captured. Reprisals burned two Mountcharles shops and a house. Sinn Fein hall burned. Police faced jeers as disturbances spread. Constable Hughes killed but death ruled accidental. All business and schools closed in Donegal.
Forecast calls for fair weather in Boston and surrounding areas on Thursday and Friday with strong west and northwest winds diminishing. A distant disturbance over the St Lawrence Valley moves east with rain and snow across the North Atlantic States and rain through the Middle Atlantic States. Coastal storm warnings remain from Norfolk to Eastport as winds shift from the Atlantic.
Today's outlook calls for fairly good weather with near freezing temperatures during the day and lower temperatures at night. Expect quite windy conditions throughout the period.
Average temperature yesterday was 40 degrees with a high near 83 and a low around 45. The report notes regional readings including 96 in one location and 32 to 42 in mid areas, with values indicating a wide daily temperature spread.
Pilot Ernest M. Allison of the United States air mail service landed at Mineola Field at 4 50 this afternoon with six sacks of mail that had left San Francisco 33 hours and 20 minutes before. Allison came in five minutes ahead of the government's schedule for the test trip fixed at 36 hours from coast to coast.
Fifteen minutes after Allison arrived, Pilot William C Hopson landed from Cleveland with a sack of transcontinental mail and seven pouches of regular mail. Allison left Cleveland at 1 03 p m and stopped at Bellefont Penn for fuel then went to Hazelhurst Field. He had received the mail pouches from Pilot Webster who left Chicago at 9 10 a m arriving in Cleveland at 12 50 p m. Webster took the sacks from Jack Knight who reached Chicago at 8 40 a m after flying 1200 miles from Iowa City. On arrival Allison was greeted by J B Whitbeck and Percy Kirkham who congratulated the flier on his record.
Dublin reports multiple ambushes across Ireland last evening. Near Kells County Meath sixty attackers struck a police patrol wounding District Inspector Rowland a sergeant and a constable. In Mount Charles County Donegal a constable was killed in a joint police and military ambush. Ballylongford County Kerry saw another constable shot and killed.
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