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Hughes unveils plan to pay Old Court depositors
Gov Harry Hughes outlines a scheme to move 26 million in Old Court deposits under 5,000 dollars into Maryland National Bank with a March access window. About 17,103 small accounts would be paid in full, while larger accounts could withdraw up to 5,000, with a 4 percent premium if balances stay after six months and 1 percent after a year. The plan aims to cover 113 million in the March distribution, amid broader S and L bailout moves and talks on merging First Maryland and Community Savings and Loans.
MENTIONED IN THIS ARTICLE
Annapolis
Harry Hughes
Adllanced
Ant Soites and Tans Association
Maryland National Bank
Savings and Low
Hughes
Maryland National
Amon
Maryland Senate
General Fund
Highway Fund
S&l
Melville
Brown
Maryland Deposit Insurance Fund
MDIF
Old Court
TRA
First Maryland
Community Savings and Loans
Thomas Maddux
Internal Revenue Service
Wilbur D. Preston Jr
Preston
Jeffrey Levitt
Maryland
Orioles
Edward Bennett Wiliams