Word: auctioneering
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Dates: during 1930-1939
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When J. P. Morgan & Co. put the Van Sweringen rail and real estate empire on the auction block last fortnight, it was knocked down to Midamerica Corp., the Cleveland bachelors' new top holding company, for $3,121.000 (TIME, Oct. 7).* Though they are still well able to maintain checking accounts, Messrs. Oris Paxton and Mantis James Van Sweringen needed help to buy back control of their vast possessions which had been taken over by the Morgan banking group for nonpayment of principal & interest on some $50,000,000 of notes. Last week Wall Street still buzzed with gossip about...
Though both George A.'s were seated close to 0. P. Van Sweringen at the auction, they were strange faces to Manhattan newsmen. Spare, bald-pated George Alexander Ball is a power in Indiana politics, a Republican National Committeeman, a close friend of onetime Senator James Watson and divides the honor of being the First Citizen of Muncie. Ind. with his elder brother Frank. The only two survivors of the original five Ball brothers, they make the Ball fruit-jar known to all housewives. They both live in show places on the banks of the White River in Muncie...
...grubby auction hall is the Exchange Salesroom at No. 18 Vesey St., Manhattan. There in one corner is the famed auction block of Adrian H. Muller & Son which for a fee will sell anyone's securities. Both Mr. Muller and his son are dead, and the firm today is run by Miss Helen M. Collins, fortyish and efficient. One afternoon last week Miss Collins held the most spectacular auction in U. S. history...
...that time in a public auction room at No. 18 Vesey St., Manhattan, Adrian H. Muller & Son will sell for J. P. Morgan & Co. the collateral pledged by the Brothers Van Sweringen for loans and accumulated interest now amounting to $50,000,000. Among the securities which the House of Morgan and allied banks took over when the loan fell due last May was stock-control of the holding companies through which the Van Sweringens rule virtually all their vast possessions. On the block will go about 50% of the common stock of Allegheny Corp., representing...
...public's interest in the auction will centre on the 2,064,000 shares of Alleghany, worth $3,000,000 at the market price. A notable procession of blasted business dreams have passed across the auction block of Adrian H. Muller & Son, including the shades of the Insull utilities and Continental Shares, once the pride of that other Clevelander, Cyrus Stephen Eaton. But never before has such a private empire been sold substantially intact...