Word: barucher
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Dates: during 1930-1939
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Next August, Bernard Mannes Baruch will be 64. About that time, when he returns from Vichy, France, he will go to work in a new office in midtown Manhattan, four miles north of the office at No. 120 Broadway which he has occupied for the last six years. That move will mark a major milestone in the Baruch career. Last week Mr. Baruch explained the reason to an Associated Pressman: he is going to give up finance for literature, to write three books, The Autobiography of an American Boy, The Way That Lies Ahead for the Youth of America...
...Baruch scoffed at the idea of retiring: "I guess no one will say I won't be plenty busy. . . . There'll be no ghost writing. I'm going to do it myself." But no one was more aware than "Bernie" Baruch that he was announcing the end of a unique business career. The U. S. has had a multitude of daring and successful speculators but it has no other Baruch...
...Confederate surgeon who left South Carolina after the carpet bag regime to teach hydrotherapy at Columbia's College of Physicians & Surgeons, young Baruch accompanied his father to New York, graduated from the College of the City of New York in 1889. His first notable job was with A. A. Housman & Co., stockbrokers. Thereafter Baruch's business was that of making money by his wits in Wall Street. His teachers and friends were rugged individualists of famed memory: James Keene, Thomas Fortune Ryan, Henry Huddleston Rogers...
...Baruch's first coups was to buy control of Liggett & Myers for Ryan who was then forming his notorious Tobacco Trust. In 1901 he made a killing on the short side of Amalgamated Copper. Early in his career he was almost wiped out on the short side of American Sugar. In 1904 he got a commission of $1,000.000 for buying the Selby and Tacoma smelters for the Guggenheims. He added to his fortune by buying into the immensely successful Texas Gulf Sulphur Co. in 1909 shortly after it was founded. He made nearly half a million by selling...
...attitude of mind caused him in 1912 to become instantly a friend of that reforming politician, Woodrow Wilson. Five years later when Baruch was accused of using that friendship to make his killing in Steel. Congressional questioning showed a new side of him. Reading between the lines of utterances by Germany's von Bethmann-Hollweg and Britain's Lloyd George - reading matter for the whole world -he had almost alone foreseen developments, made his huge profit without inside information from the White House. The dates of his operations confirmed his claim...