Word: bankes
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Dates: during 1920-1929
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Columnist Brisbane did more than grumble. He sneered: "Borrowers should send three large gilt balls to be hung above the Federal Reserve Bank entrance, and similar ornaments to some of the big banks." He threatened: "This is what the law of New York State says, Section 370: 'The legal rate of interest shall not be more than $6 on $100 for one year.' Every bank charging more than 6% interest is violating the law and knows...
Chicagoans these three mighty bankers are, but by migration. The Reynolds brothers were born at Panora, Guthrie County, Iowa. George M.'s first important job was as clerk with the Guthrie County National Bank at Panora. (The town's population is now barely 1,000.) Arthur ran a drug store there for ten years, and then followed his brother into the Guthrie
...County bank. Later they progressed to Des Moines, to Chicago. Banker Stevens began his career in a Preston (Minn.) wagon factory as a small but husky boy, working overtime to help his mother balance the household accounts. At 20, he embarked for the nearest big city, which happened to be Minneapolis. He worked for the F. H. Peavey Co., who are now the largest grain merchants in the U. S. He became an investment banker. When he was 46, he went to Chicago, as vice president of the old Illinois Trust & Savings Bank. Last year he became president...
...Bank. The Commercial National Bank & Trust Co. began organization work in Manhattan with $14,000,000 capital & surplus, greatest initial resources of any bank...
Mergers. Memorable was the formation of the Continental Illinois Bank & Trust Co. in Chicago by the Continental National Bank & Trust Co. and the Illinois Merchants Trust Co. (see p. 38); the Commercial Investment Trust Corps' purchase of Peierls, Buhler & Co. (see p. 43), and the consolidation of two rough rolled glass makers-Highland Glass Co. at Washington, Pa., and the Western Glass Co. at Streator, Ill., Shirley, Ind., and Fullerton, Calif.-as the Highland-Western Glass Co., with $5,000,000 capital. The men who control both the United Light and Power Co. and the American Light and Traction...