Word: bankes
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Dates: during 1930-1939
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...arms. From it he reads the story of how Banker Mitchell's $30,000,000 fortune was wiped out. On a wild stockmarket day in October 1929, Mr. Mitchell turned to the House of Morgan for a $12,000,000 loan to support the market for National City Bank stock. By the spring of 1930 the loan had been cut to $6,000,000 but the stockmarket had hardly begun its great decline. Thereafter every few months Mr. Mitchell would dig more stock certificates from his strong box, send more fat bundles to the House of Morgan to bolster...
...Prosecutor Medalie is quick to dynamite this line of defense. At the time of the husband-to-wife bank stock sale, Mrs. Mitchell's fortune stood at about $900,000 (having been run up from a $250,000 inheritance from her coal-dealing father). To cause her to purchase $3,800,000 of bank stock was to force upon her a huge investment with only a 25% margin -hardly, as Mr. Medalie points out, the act of a wise banker or considerate husband. If Mr. Mitchell had not repurchased the stock later, she would owe J. P. Morgan...
...took his ease, answering routine questions for the record. Yes, Drexel & Co. in Philadelphia was a Morgan affiliate and yes, there were two houses abroad, Morgan & Co. in Paris, Morgan, Grenfell & Co. in London. Yes, Morgan & Co. always paid interest on demand deposits and yes, he supposed the private banks would profit from provisions in the Glass bill forbidding national banks to do the same thing. The rate of interest on deposits in the Morgan bank had been as high as 2½%, now is about one-half of one percent, conforming to the New York Clearing House rate...
...seen him too the day before, and she knew who he was. She told a New York Herald Tribune reporter that it was Joseph W. Harriman, the defamed bankster whose escape the previous day from the Regent Nursing Home in Manhattan, where he was awaiting trial for falsification of bank accounts had electrified the Press. Few hours later the reporter called at the Inn, chatted with the proprietor, suggested to him that his feeble old guest was Harriman. To see for himself, the proprietor went upstairs, found "Mr. Thomas" in bed, and got nothing but denials from the old gentleman...
...much day and night-all these weeks, months and years, my head is in a whirl and I crave rest-just rest, and there is only one place where it is to be found. . . . But I want you to know, dear Teta, that regardless of any charges by bank officials, not one cent has ever been taken by me in any way. On the contrary, all I have saved, my life savings for mother and you, have gone into the bank. It has been my pride and 'monument' . . . and it has been swept away and is a miserable...