High Finance

According to The New York Journal of Commerce, the greatest chapter in the history of American finance was about to be written. That newspaper had "exclusive information" that billionaire Henry Ford intended to open a bank on Wall Street and would most probably seek an alliance with the Rockefeller interests. This would mean, said the Journal somewhat childishly, "the single addition of more than $1,000,000,000 of assets, a sum sufficiently large not only to make financial New York notice it, but also welcome it." It is well known that Mr. Ford has enormous cash reserves and that he could easily establish a bank in Wall Street if he so desired. But this chapter of history was not to be written, as the following telegram to TIME indicated :

"Report of our seeking banking arrangement entirely unfounded.

"EDSEL B. FORD."