Word: baum
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...DUNSTER KIRKLAND Gerrity, l.e. l.e. Wood Clapp, l.t. l.t. Howitt Horton, l.g. l.e. Baum Goodman, c. c. Cogswell Fols, r.g. r.gr Gray Lipsit, r.t. r.t. Barnard Scofield, r.e. r.e. Wentworth Kanter, l.h. l.h. McClure Vitagliano, r.b. r.b. O'Kelly Harwood, q.b. q.b. Wills Mulliken, f.b. f.b. Mayne...
Last July when Missouri's new Governor Lloyd Crow Stark was enjoying a vacation in Alaska his State Board of Fund Commissioners sold $3,000,000 worth of State building bonds to Baum, Bernheimer Co., a Kansas City bond house, at an "emergency" private sale. St. Louis bond dealers, who had not been given a chance to bid, charged that the State lost $50,000 on the premium of $100,000 paid by Baum, Bernheimer. St. Louis' Post-Dispatch made the most of it, pointed out that the same sort of thing had happened twice in the previous...
...months later the first $2,000,000 worth were sold to the highest bidder among six syndicates, including most of the top-flight bond houses in the U. S. The next $2,000,000 lot, however, was not opened to public bidding but sold privately in March 1936 to Baum, Bernheimer Co. of Kansas City. Other bond houses were not slow to point out that the State lost about $20,000 in premiums on this deal. But last September the State Board of Fund Commissioners again sold $2,000,000 worth of bonds privately, again to Baum, Bernheimer and again...
There is no law in Missouri specifically prohibiting private transactions for State building bonds, though it is the sense of Missouri court decisions that they are permissible only in an emergency. Greatly perturbed by Baum, Bernheimer's strange successes, the Investment Bankers' Association sponsored a bill at the last session of the State Legislature to enforce public offering of all bonds sold in lots of more than $20,000. The bill expired in committee. St. Louis bankers thereupon asked and received from sedate Governor Stark written assurance that the next time Missouri bonds were put on the market...
...last week that tireless journalistic tribune of the people, the St. Louis Post Dispatch, had gone far enough into the background of the sale to start a first class Missouri scandal. The Board of Fund Commissioners' official explanation of Baum, Bernheimer's third big bond purchase was that the State Bi-Partisan Advisory Board had recommended "immediate" sale of the bonds to pay for July and August construction work at State prisons, that a public sale would have taken at least 30 days. Advisory Board Chairman Sam E. Trimble, however, declared that the board had been aware...