Word: bishops
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Dates: during 1920-1929
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...Denounced stockmarket gambling. A few days later Bishop Cannon himself was disclosed as a buyer and seller of stocks on margin in Wall Street. While not denying the facts, he loudly complained it was all "a contemptible Tammany trick" to discredit him at the opening of his Virginia campaign...
...Bishop's Business...
...turmoil which preceded the Civil War gave birth to the Methodist Episcopal Church, South. Born of politics it has remained aware of politics today when its most conspicuous spokesman, Bishop James Cannon Jr., is known throughout the land less as a man of God than as the bitter friend of Prohibition, the sweet foe of Alfred Emanuel Smith...
Last week Churchman Cannon was revealed in a new secular role. Investigators into the. affairs of Kable & Co., a bankrupt Manhattan bucketshop,* discovered that, like so many of his fellow countrymen but unlike most churchmen, the Bishop had been playing the stock market...
...Bishop Cannon's first Kable & Co. venture was an investment of $2,500 in August 1927. His judgment in general was proved sound although at one time he owed the firm $91,000. His best day was April 10, 1928, when he sold $75,078 worth of stock, purchased $58,353. In more than 30 transactions, he was a loser only six times...