Word: bankes
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Dates: during 1930-1939
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There comes a time when the head of each great financial house summoned before the Senate Committee on Banking & Currency is given his chance to tell not what he did but what he thinks should be done. As J. P. Morgan's turn came last May and Otto Kahn's turn came last June, so last week came the turn of Winthrop Williams Aldrich, chairman of Manhattan's great Chase National Bank...
...forbid officers and directors of any commercial bank to officer or control through stock ownership any other commercial bank or investment bank, thereby stopping up holes in the present law which permit such control by indirect means. The Federal Reserve Board would not be allowed to issue any exceptions to this rule...
...author gives us with meticulous accuracy an account of the goings on in the bank where young Larry Yomans is employed, showing us the numerous possibilities of the unethical handling of its funds and it is therein that the book has its value...
Died. Frederic Winthrop Allen, 56, member of Lee. Higginson & Co.. corporation director (Chase National Bank, Shell Union Oil Corp., Otis Elevator and other companies), onetime (1916-26) chairman of Yale's graduate rowing committee; after long illness; in Manhattan. As U. S. bankers for the late Matchmaker Ivar Kreuger, Lee. Higginson sold some $150,000,000 of Kreuger securities. When Kreuger's suicide toppled the match empire, odium fell on Lee, Higginson for not having insisted on a U. S. audit. Patrician Banker Allen, with seven other directors of International Match Co. (Kreuger affiliate) were sued...
...Sewalls were F. F. C.'s (First Family of Chicago) and proud of it. But old Granny Sewall, remembering pioneer days, log cabins, the Great Fire, plain living and hard work, shook her head at some of the goings-on of her descendants. The Sewall bank was booming; they all had plenty of money and little to do for it; even before the War gave them an excuse to run wild, some of the Sewalls were slipping from the pioneer virtues. But Granddaughter Sally had good stuff in her; she sympathized with her Granny. Wartime and love...