Word: chase
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Dates: during 1930-1939
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Banker of the Year was certainly Winthrop Williams Aldrich who last week seemed about to succeed Albert Henry Wiggin as head of great Chase National (see p. 27) but his big achievements lay ahead of him. Scanning the realm of business the well-informed citizen would probably conclude that the biggest and boldest strides against the economic tide were those of Errett Lobban Cord who turned from highways to skyways in his restless effort to expand. The year proved that there was no such thing as a Depression-proof industry. Yet John Hartford's Great Atlantic & Pacific food stores...
Albert Henry Wiggin went to Chase National Bank as a vice president & director nearly 29 years ago. Tall, heavy, slightly popeyed, he entered banking without benefit of college at 17. At 23 he was an assistant bank examiner in Boston, a bank vice president at 29. At the turn of the century he marched down to Manhattan as an officer in a small bank that he later absorbed. When he was picked for president in 1911 Chase National Bank boasted total assets of $106.000,000. At the peak of its prosperity two years ago the total...
Such statistics are not new. The late Thorstein Veblen (1857-1929) recited similarly as early as 1921 when he published The Engineers & The Price System Economist Stuart Chase, Veblen's friend has been writing similarly since. But last summer a tall, middle-aged man named Howard Scott with a wide-brimmed hat and a prodigiously rapid, sharp, agile tongue, was being received and handed around by alert tycoons, notably Banker Frank Arthur Vanderlip. From one drawing room and dinner to another he moved everywhere causing gasps of amazement, scowls of worry, questions of deep and inquiring respect...
...next recordable appearance is in 1920 as director of the Technical Alliance a loose organization for the discussion of social implications of the Machine Age. The late Charles Proteus Steinmetz and Thorstein Veblen were members. Other, living ones, are Stuart Chase, Frederick Lee Ackerman (Manhattan architect), Bassett Jones (Manhattan elevator engineer). They erroneously believed Howard Scott a doctor of science from the Technische Hochschule, at Charlottenburg, Germany. The interlocutions of the Technical Alliance languished. But Howard Scott, in Greenwich Village, prated and ratiocinated...
Technocracy. To theorists like Messrs. Rautenstrauch, Jones, Ackerman and Chase, technocracy is a serious effort to collate facts which may show whither industrial civilization is moving. To thousands of discontented technicians employed (or discharged) by oil. lumber, automotive and other industries whose wealth they envy, Technocracy is the hope of a new economic deal. To I. W. W.'s. with whom Howard Scott was once associated, Technocracy is a new lever against Capitalism. Each man sees in Technocracy what he wishes for and Howard Scott, Technocracy's spokesman, breathes fog upon their mirrors...