AGENCY : RECORD NUMBER : RECORD SERIES : ’ AGENCY FILE NUMBER : ORIGINATOR : FROM: TO: COMMENTS : u v9.1 HW 45712 Bocld:32305205 TITLE: DATE: PAGES: SUBJECTS : DOCUMENT TYPE : CLASSIFICATION : RESTRICTIONS : CURRENT STATUS : DATE OF LAST REVIEW: OPENING CRITERIA : JFK Assassination System Date: 4/21/201 Identification Form Agency Information Released under the John Kennedy Assassination Records FBI 124-10287-10335 oOllection Act of 1992 (44 USC 2107 Note). asef# iN 45712 Date: 1i-—16-2017 HQ 29-3 1889-27, 28 Document Information FBI WALTERS, VERNON G. DIRECTOR, FBI 11/15/1962 ‘ 178 DEB, SENTENCED, ASSOC, MEETING, FINANCES, TRA, INTV PAPER, TEXTUAL DOCUMENT Unclassified Consulted; 3; 10(a)2; 11(a) Redact 09/23/1998 INDEFINITE, APPROVAL OF IRS, FDIC . REFERRED TO FDIC, RPT, TABLE OF CONTENTS PAGES 2, 2a, INC A/T 23 Page 1
DE 29-1432 VWGWssao - 1 - DETAILS: The following investigation was conducted concerning alleged irregularities, ‘disclosed by a Federal Deposit Insurance Corporation (FDIC) examination, of Public Bank, Detroit, in — regard to. certain loans to the Alvin Naiman Corporation ($50, 000.00 | on October 16, 1959, $240,000.00 on October 24, 1959, and: $75, 000.00 _ on April 7, 1960); to Niagara Crushed Stone (Humberstone), Ltd, ($240, 000,00 on October 24, 1959, and $75,000,00 on April 7, 1960yand . “to Vendorama of Ohio, Inc. , ($50, 000.00 on October 3, 1960) ; At the request of Department Attorney WILLIAM FRENCH, this investigation has been concentrated upon the alleged irregularities. in regard to the above-mentioned. loans; and other alleged , irregularities disclosed in the FDIC examination are to be referred. to the United States Attorney for prosecutive con- | ' sideration after instant investigation has developed the facts as toa possible \conspiracy in regard to these loans and the involve- ment of the various subjects. Mr. FRENCH indicated that the other -alleged irregularities reported by FDIC would be made the subject of separate cases but he does not desire that these cases be opened at this time and will advise at a later date when he considers it appropriate that these matters be discussed with the United States Attorney. . During the period of this report there were frequent contacts with Mr. FRENCH, who advised as to additional information | received by the Department of Justice and who was informed of the current results of this investigation. On September 12, 1962, a detailed discussion was had with Mr. FRENCH regarding the information developed to date, Emphasis was placed by Mr. FRENCH on the need for determining what information was available at Public Bank regarding the financial condition of the Alvin Naiman Corporation, Niagara Crushed Stone (Humberstone), Ltd. and Vendorama of Ohio at the time loans were made to those companies by Public Bank in 1959 and 1960. Such information is considered essential by Mr. FRENCH . -in determining whether the granting of these loans constituted | misapplications of bank funds in violation of. Section 656, Title 18, United States Code. Mr. FRENCH desired that this phase of the investigation be given early attention, together with inter- viewing PAUL P, YODER, Jr., as to his knowledge concerning financial data made available to Public Bank preliminary to granting these loans. Mr. FRENCH indicated that upon completion . Ro. . ; , . ‘ y | 3 HW 45712 DoclId: 32305205 Page 2?
DE 29-1432 VGW:sa0 = 2 of the above inquiries and review of material accumulated ‘Seom’ various sources, he expected to have a further detailed discussion as to the other phases of investigation which he desires to be gone into, (Beginning in October, 1962, and. continuing to the present time, Mr. FRENCH has been engaged in the preparation and trial of another involved matter in United. States District Court, Detroit.) On August 29, 1962, Mr. FRENCH advised that the Department of” Justice had received. information indicating that. HERBERT L. GROSBERG of Detroit probably was in Chicago, Illinois, on June 14, 15 and 16, 1959, and stayed at the Shoreland. Hotel, Chicago. On September 17, 1962, Mr. FRENCH Was advised. that: , investigation at Chicago had disclosed that on Jume 14 and 16, 1959, telephone calls were reportedly made from the Shoreland Hotel. by GROSBERG to the following numbers im the Detroit area: WO 5-4900 WO 5-8329 Li In F237 Mr. FRENCH advised that he had received information that: LI 7-7237 was GROSBERG's home telephone number im 1959, that WO 5~4900 was his. office telephone number in Detroit, and that WO 5~8329 was the telephone number of his broker, Manley Bennett and Company , Detroit. On September 20, 1962, Mr. FRENCH requested that contact be made with Department. Attorney” JAMES . CANAVAN or | FRANK KIERNAN in care of the United States Attorney's Office in Chicago ‘im regard to obtaining access to a voluminous tabulation of toll calls of the International Brotherhood of Teamsters, Washington, D:C, According to Mr. FRENCH, this tabulation was | in the possession of the Department of Justice staff members in Chicago;% é&, requested that it. be reviewed regarding toll calls . to or from individuals and telephone numbers known to be of possible interest in this investigation, -foyr. the 7) April 1, 1959, to July 31, 1961. a {I Mich: . On October 3, 1962, Mtr, FRENCH advised that ie Depart—. ment of Justice had received informatign ‘that’ in Judy , ‘1959, a trip was made to Chicago by HERBERT. L.XGROSBER which may relate to a telephods*eSl I réportemly made to Public be ab by GROSBERG from Chicago. in behalf of ALVIN NAIMAN. or. may y about the time NAIMAN’s request for a loan was considered he ‘Teamsters Pension. Fund in Chicago. - 4 = wu LL HW 45712 DBocld:323052705 Page 3
\ ¥ loans being considered DE 29-1432 “VGW:sa0 3 GROSBERG reportedly stayed at the Palmer House, Chicago, on the night of July 20, 1959, and was charged ninety-nine conta for a long-distance telephone call, ‘On October 3, 1962, Mr. FRENCH requested that contact be made with CHARLES Z. SMITE, Special Attorney, Department of Justice, Chicago, to arrange for a review of mimutes of the Teamsters Central States. Southeast- Southwest Areas Pension Fund for any references to am application for a loan in 1959 in approximate amount of $300,000.00, which may have been. in the name of ALVIN A, NAIMAN,. Alvin Naiman Corporation, ‘Niagara Crushed Stone ~ (Humberstone) , Ltd. , Akros Dynamics Corporation or DOMINICK E, BARTONE. He advised that possibly this loan application was considered on the same date as the loan for the Ogelthorpe Hotel, Savannah,. Georgia. He also requested that #t be ascertained whether’: CHARLES — Z,. SMITH has records in his posséssion concerning conference © calls made by attorney STANFORD( CLINTON concerning votes on he Pension Fund amd also whether he has records of the Real Estate Research Corporation of Chicago in his possession. Mr. FRENCH ‘requested if such records were in the possession of Mir. SMITH that they be reviewed for any available information - concerning the above-mentioned loan applic ation. ~5 = HW 45712 DoclId: 327305205 Page 4
DE 29-1432 a WILLIAM P, FRENCH, ‘Department Attorney, Detroit, made | available for. review a copy of a report of examination of Public Bank (PB), Detroit, as of the close of business - - December 26,. “1961, by Federal . Deposit. ‘Insurance. ‘Corporation. (FDIC) examiners ,. with: ‘WILLIAM D, ALLEN as: examiner-in-charge. _ ALLEN was in charge of. previous. FDIC examinations of. PB on May. 8, 1961. and January 11, 1958;. other FDIC examinations. - Weres.conducted May 2, 1959 and March 7, 1960, Following - is a. summary of. pertinent: ‘information. from the. report of: the. December. 26, (1961. examination: © ; . PB is ‘located in FDIC District 7 and has Certificate wi7sas. The | president , executive vice’ ‘president, senior - “vice. president, and ‘all. senior: lending. officers are. ‘quartered - at -PB's: Michigan-Shelby Office, 201. Michigan’ Avenue, Detroit, which: is a branch office: establisted January 19,1958; ©All. loan’ activity: of PB: ‘funnels. through this: ‘branch, ‘at which » ‘ are kept: ‘industrial and commercial loan notes, “along ‘with. . their: support ing data. and: security, as well: ‘as commercial . a deposit ledgers’ for all: offices. | Branch. operations: of all. .-PB branches on. the west side of. ‘Detroit ‘were’ supervised: by. Assistant Vice President ROBERT E, MC CARTHY, JR.; ‘and the» ‘operations. of the Michigan-Shelby Office» ‘were ‘supervised. ‘py. “Senior: Vice President. JEROME” Se ZIELINSKI. , - _Under- the heading: of “Loan Policies" it was. reported | that as’ @ matter. of. practice: ‘President JOSEPH. F, ‘VERHELLE ~ “exercised unlimited authority. in the granting. of credit, Lo “although the’ ‘larger applications were generally: presented to. ‘ - the Board of Directors or the- Executive. Committee for , -.consideration® before. the: leans were: granted. - In: ‘other. cases: it appeared that larger ‘loans. were granted. and. ‘later. ‘approved | --by. the- Executive. Committee “or: Board. of Directors. “Other. ~ aan - <genior’ Loan: officers exercised limited: loaning responsibility .. under. the: supervision of . VERHELLE, Other. than demand leans, — _ past-due. Joans: in excess of .$2,500,00 were. ‘reviewed. by the © _ ‘Executive. ‘Committee’ weekly;. demand: loans” were considered® to. have: monthly.’ interest: due ;: and if unpaid: as‘such. they were - past’ due;’ no review ‘was made: of important. maturing. ‘loans ~ except. ‘by: the officer handling. the account. .The. Collateral. . “Department. appraised: marketable collateral periodically, and. nonnegotiable. collateral was. reviewed. at the. inéeption © of. the loans and at~ renewal dates. -6- HW 45712 DBocld:32305205 Page 5
Ww Qe DE 29-1432 ~ VGW:SLZ = 2 It was reported that. credit information. for. many . of the. large lines and concentrations. of. credit was. lacking or too old... Balance: sheets and operating statements: for. full accounting. periods were: deficient, “and” supporting credit. data for. collateralized lines were very. inadequate. PB did ‘not - as a ‘practice advance maturity of. s@tes "upon payment: of” interest without requiring a formal renéwal note or extension . agreement; but. demand notes were regarded ‘as being renewed -by the payment of | interest monthly. PB had a general. policy _ of requiring amortization on real estate and term loans, but ‘there were many. lines of credit of large’ amounts which have no. visible terms . of: repayment. and the. servicing of the — -eredits would indicate that there is no. program. With. regard -to, loans’ secured by réal estate and chattels, collateral real. estate and chattel mortgage security was deficient “as to supporting papers: in numerous instances, At each FDIC examination following the entrance examination ‘Of: January 11,-.1958,. liquidity of PB was found. to be’ disproportionately - low and’ total loans excessively high. The failure of management to.respond to recommendations ' to improve liquidity ‘and curtail loan totals to more satis- factory. levels was considered a serious indictment of. _management’s desire and intent to operate PB in an accepted . sound and conservative manner. VERHELLE was considered responsible for this recalcitrance. PB's. loan - portfolio at. December 26, 1961 equaled 19.9%: of total deposits as compared with 66, 1% at May 8, “1961, “The consolidated loan-deposit ratio of all insured commercial banks. in Michigan - as of December 30,- 1961, was. 49. Sb. Overdue loans. totaled 12.3% of the loan: account at PB as of December 26; 1961; and unfavorable- delinquency conditions included. the inability or. lack of: desire of the. borrower to meet. his: ‘commitment, and weaknesses. and ins. effectiveness’ in the loan. administration ‘of PB, “particularly — in its” collection. procedures. ‘The ‘credit quality. of the-loan. ‘account ,: as measured. by adverse classifications ,: has) declined at each ; -FDIC examination since PB was organized, ‘The. ‘percentage. of ‘total loans which were adversely classified - was. 2. 1% at May 2, - 1959; 6. 9% at March 7,- 1960; © ‘12; Th at -7- HW 45712 DoclId: 327305205 Page 6
vv : DE 29-1432 VGW:SLZ = 3 May 8, 1961; and 27.7%. at . December 26, 1961.. The consistent “and progressive deterioration of the credit: quality: of ‘the. loan portfolio had:-reached such extremely serious proportions ‘that ‘corrective | action Was considered imperative: and essential ‘to the: future of, PB. : Ex=president VERHELLE, who completely. dominated both loan: policy. and loan’ administration and: personally directed the: administration of the larger and more important. lines of credit, was reportedly - responsible for ‘the unsatis—- factory. condition. of: the. ‘loan account. and for the: lack of remedial action. ‘The FDIC report recommended that management give’ early attention to the adoption of a comprehensive; . formal loaning policy in writing which would provide adequate control . and supervision by the Board of Directors; establish: the. ‘loaning authority and: responsibility. of all-loan. officers: “permit adequate analysis and ‘understanding: of ‘applications. for loans by appropriate. elements. of management,. including directors; and require. systematic review and. analysis of total obligations of -individual borrowers by the directors,’ . loan committees ,- and active management. It was: also. - recommended that total loans be curtailed to satisfactory. proportions; and-that the Credit, -Gollateral. and Joan — . Discount Bepartments. -be: revamped ‘to. provide adequate support | to: loan. administration, full analytical: information, and: “suitable. controls of | borrower relationships and internal -: operat ions.: Present credit data. were very ‘much deficient on - a ‘number of. borrowers ;.and . there was need for ‘eredit: files. _ to contain ‘complete ‘and. current. data, including» financial statements and~ earnings. ‘data for full. fiscal years,. adequate appraisals” of security takén; and ‘all. needed supporting ‘papers. ‘Existing. record and. control of. collateral. were considered very. inadequate, and. there. Was” need to. audit: and - ; control interest received ‘on: loans; It was also. ‘reported that debit and credit. tickets. for general | ledger: ‘entries’ lack: adequate detail ‘and’ explana- tion,. “and” ‘should be ‘cross> referéncéd to show ‘corresponding: : credit: Or. debit. Numerous general: ledger debit and credit: tickets bore little or. no description of the: transaétions ' which they ‘represent. -8- HW 45712 DoclId: 327305205 Page 7
DE 29-1432. ‘Vow: SLZ = 4 It was reported that. the operations of PB had been. and still were inefficient, stemming principally from: poor ‘internal operat ing organization. - Many -of: PB's staff were not . béing utilized to obtain max imum benefits - from the qualifi-... cations for which they were being paid.. -Ex-president) VERHELLE so centered and concentrated bank administration in‘his. personal hands. that. even the most minor. operat ing procedures. were decided and dominated by him.. fhe responsibilities he. reserved ‘unto himself were so extensive that. he could not give them all due attention: and consideration. PB’ s: ‘operating procedures and. staff: grew in a topsy-turvy fashion without : proper guidance and direction. The FDIC report. as of December 26. 21961, under. the heading. "“Overdue- Loans” contained a achedule of: loans - of: which ‘any ° ‘portion. was” ‘subject tO.8 substandard, ‘doubtful or loss: ‘classification, as well as all overdue: ‘loans. “This schedule includes ‘two. notes totaling $800;000;00. from. Port . Colborne. Quarries, Ltd. ; $224,375.00 of the balance of these notes: was. classified as: substandard and $400, 000,00 was ~ -- classified. as ‘doubtful. Both notes. - (one: in: the amount. of: $100,000, 00 ‘and one in the. amount of $700, 090. 00) ‘were dated October 19,1961; and were placed. ‘on -PB- books on November 9, -1961; The’ ‘larger note is secured by. a real estate mortgage covering» the stone quarry “property on which - PB had held mort= gage liens in connection with loans to Niagara Crushed Stone (Humberstone) , Ltd. No written. appraisal’ ef the quarry — “property was found at this or at prior examinations, although: it was previously reported that an appraisal ‘had been made — but: could not. be -located.. The ‘FDIC report. also” contained the following data wegarding the | quarry: On May 8, 1962, the. bank obtained ‘a. written | appraisal of the. quarry land showing the 1164 acres ‘of: ‘land - not quarried being valued at $116,500.00 and the 25 acres already quarried. or being quarried ‘being. valued at $250. 00 per acre or. $6; 250.00 making a total appraised. value’ of $122,750. 00. Appraisal is the market value of the land and | is. not as a going business venture. | Appraiser is.S. 0. — Mason. Agency with Mr; D. R. MASON doing the appraising. Firm is considered competent real estate appraisers. The basis of the appraisal. is the highest market. ‘price. ghich the land will’ bring if sold on the open market and such value: is. for quarrying purposes only since. the: land. otherwise - 9 = HW 45712 DoclId: 32305205 Page 6 a
DE 29-1432 VGW:SLZ = 5 has no market value. Approximately 41 acres of. the. land cost: $41,500. 00 in April, 1956, and the 100 ‘acres’ was | acquired: for $75,000.00 in 1959, -It is: stated. the sellers © ~ had full: knowledge of the ‘stone reserve: and the purpose’: “of. - the buyers | to. develop the. quarry. - Also. appraiser stated ~ that there is considerable additional land Of this: ‘type ‘in. . the. immediate vicinity ‘and thus the walue: of quarry: land. is. “not enhanced “py” its short supply. Public Bank first extended credit to the quarry operation. when. on October. 24; 1959, a loan of - “$240 , 000.00 was granted to Niagara. Crushed: Stone - (Humberstone) , Ltd, . anda. ‘companion | loan of $240,000,00 was’ made to The Alvin Naiman Corporation (later Niagara Crushed Stone ‘Sales of” Ohio, Inc.). These obligations were secured by the quarry -yeal estate; chattels, assignment of acéounts receivable, , stocks ofthe two. borrowers, guaranties of several ef the . principals, subordination agreements, etc. On April To 1960,. additional loans of $75000.00. each were granted ‘to the two — concerns on the same basis, and. participations in the lines: were sold ‘to. Bantam Industries, Inc. , of. $150, 000, 00. Balances had been reduced. to. $205 ,698. 40. each on. _ the. portions of the lines owned by PB and. to; $40; 698; 36 each on the: participations sold Bantam Industries, ‘Ines; ‘at the. time Niagara ‘Crushed Stone: (dumberstone) , Ltd; Was” delivered. - to the trustee in bankruptcy. In the intervening time, , -however , PB had incurred. considérable out-of-pocket expense --in-servicing. the lines ,. ‘including ‘an ‘apparent: operation of ' the business: immediately prior to” the bankruptcy. action. Also. during this period, PB. disbursed the’ proceeds: ‘of a. ‘substantial amount . (believed to be approximately $232, 000. 00 “or more) of the proceeds: of leans. given to. PB by ELIOT JANEWAY, his associatés and their interests. -While: ‘the .. circumstances: of this arrangement are. clouded, - it: ‘appears _that the: JANEWAY - group borrowed. money: from PB. to be. fed: into. . the” operations s stream of Niagara-Naiman concerns. and - that” bank disbursed these funds to the Niagara-Naiman concerns, . Evidence. in. ‘files of PB indicates ‘that. the: JANEWAY. group. . expected. PB to serve in a trustee capacity to-see. that the - proceeds of the porrowings. of : the. GS ANEWAY group. were ‘properly expended : and ‘accounted for. ~ 10 - HW 45712 DoclId: 327305205 Page 9
Y a ‘VGW:SLZ°- 6 . oa ~ DE 29-1432 At the time Port. Colborne Quarries, Ltd.',: purchased | the quarry lands « and the chattels needed ‘to. operate: ‘the | . quarry business from Niagara Crushed. Stone: (Gumberstone), — Ltds,; bankrupt estate, the trustee in. bankruptcy. ‘received a _-velease of the claims of PB and other’ secured’ ‘creditors against the bankrupt. estate and $50, 000.00 in cash’ from Port Colborne Quarries, ‘Ltd.), PS_ then obtained the two- notes for: $700,000.00 and: $100,000.00. from Port ‘Colborne. Quarries, Ltd. , ‘because of ‘the’ bank's ‘claim against ‘the bankrupt estate. It is believed that the bank's supple-. mental claim filed with the trustee in bankruptcy included . the advances Sof . the funds of the JANEWAY- group and interest thereon ‘and ‘that bank thus has: accountability to this group. for. on ‘proceeds ° weceived. in the settlement. oF. claims. Although the appraised value of the. only" security to line is: $122, 750.00; such appraisal gives. no consideration to increment“ in values’ as a going. business. - Such: going. value, however, is based upon the ability of. the business. to produce satisfactory profits | from its: pers} ions: and: ‘such has yet to. bé. established. ‘only. President VERHELLE possesses an accurate ‘and - composite understanding. of the ramifications and | ‘intricacies. of the Port Colborne Quarries, Ltd., line and the predecessor lines of Niagara Crushed Stone (dumberstone), Ltd., and The Alvin Naiman Corporation (Niagara. Crushed Stone Sales of Ohio, Inc.). Also only he has first hand knowledge of the relationships between and. among these borrowers and ELIOT. - JANEWAY and his associated group of borrowers at PB. - President VERHELLE , however, successfully avoided any discussion ‘of those interlaced lines until he no lenger was president of PB,- Accurate analysis and. classification of the lines and in ‘particular the line to Port Colborne > Quarries, Ltd. ,. were. of necessity made without. the benefit. ‘of information customarily obtained from. active management and the loan officer servicing. Credit. data: are lacking dn essentials and classifications have. been made: on. ‘the basis of. information available’ to examiners. ae) _ i“ , } ¢ i; HW 45712 DoclId: 32305205 Page i10
Vv Yee ee HW 45712 DE. 29-1432 - VGW: SLZ 1 A veview of exhibits compiled. during the FDIC examination of Public Bank.. as. of the close of business December..26, 1961, disclosed that various labor unions had deposit. accounts at Fubiic Bank, with total balances -On- - December» 26, (1961, as follows Commercial accounts $ 353,482.91 Savings accounts and time cortificates. of deposit . . . 3,857 , 243.76 Total  $6,010,726.67 | Included in the above totals were the balances of ' various accounts of Teamsters Union. orgasizations,..as-shown below: Commercial . accounts $ 127,914.65 ‘Savings’ accounts and ‘time certificates: , of deposit ' 1,660,192.68 Total $1,788; 107.33 Following is a chronological . listing of. deposits of: $20, 000. @0 more which. ware’ made to the above-mentioned accounts of Teamsters organizations from February 26, 1958 ‘through July 23, 1961; Amount of Date | Account -- Deposit 2/26/58 ‘Savings account #377, Food and Beverage $50,000.00 Drivers ,. Warehougemen and Helpers 5 Local #337 © -10/31/58 Savings. account #2644, Michigan. Conference - 30, 900. 00. of. Teamsters. 12/3/58 Teamsters, : ‘Chauffeurs, Warehousemen and 50,000 .:00 ‘Helpers, Local (#247, Savings account #2702 0 DoclId: 32305205 Page i1
DE. 29-1432 3. Amount of Date. Account — ' ' Deposit 6/21/61 Commercial account, Teamsters, Chauffeurs $65,000.00 ‘Warehousemen and Helpers, ‘Local #247 7/23/61 Michigan Conference of Teamsters <= Welfare — 106 , 000.00 , Savings account #2383 It is noted that all of the above-mentioned Teamsters Union locals were located at 2741 Trumbull, Detroit (where JAMES RIDDLE HOFFA’s Detroit Office also was located); and ‘the Michigan Conference of Teamsters welfare fund was located at . 2801 Trumbull, adjacent to the building at. 2741 Trumbull. *The. above-listed deposit of $70, 404.53 on . September 9, 1959, to savings account #55190 of Local 247 included $50, 876. 88 transferred from savings account #2702 of Local 247 ‘at Public Bank, and $19,527.65 in the form of a cashier's check . drawn on the Bank of the Commonwealth, ‘Detroit. Signed JAME _ from The. Florida National Bank three times in August, 1959, **In regard to. the above-listed $525,000.00 deposit on August 12, 1959, to savings ‘account #55001 of ‘Local 299, -it consisted of a $125, 000.00 check dated August 11, 1959, ’ drawn. on Fidelity Bank and Trust Company of Indianapolis, Indiana; and a $400,000.00 check. #2, dated August 11, 1959, of Truck. Drivers | Local Union No. 299 / drawn on The Florida National Bank ‘at. Orlando, Floriday The latter check was payable to Public Bank; was signed. FRANEACOLLINS, Secretary=-Treasurer; and was counter “HOFER "This check, sent. -by ‘Public. Bark for collection was returned unpaid each time for the reasons that the signature JAMES R. HOFFA was a mechanical or facsimile Signature and that — "withdrawal. these funds not in accord with agreement at time funds deposited." As of August 28, 1959, there was. recorded a . withdrawal. of $400, 000.00 from savings account #55001, representing a a "charge back" to the account for. the $400, 000, oO. check drawn on The. Florida National Bank at Orlando, deposited with Public Bank August 12, 1959, and later returned unpaid, The. deposit on June 27, 1960, of: $400, 000.00 to savings account - #55001 represented the. proceeds of collection item OG #1606 (Public Bank), $400,000.00 check on The Florida National Bank ‘Bank, New York, New York, and City National Bank and Trust at. Orlando, apparent ly paid through wire transfer to Hanover Company of Chicago, ‘Tllineis, - 14 - HW 45712 DoclId: 32305205 Page 13 | _