Word: co
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Dates: during 1920-1929
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Every night last week groups of workingmen, mostly Italians, stood at the corner of 109th street and Second avenue, Manhattan, gazing across the street at the windows of the City Trust Co. They wondered what, if anything, their bankbooks might be worth. On the windows were posted notices that the state banking department had taken possession of the bank. Back of the closed doors bank examiners checked books and investments and balances. Perhaps the bank was "broke...
Some of the laborers pointed to gold-lettered window announcements which proclaimed that City Trust Co. was a depository of the U. S. government, of the state and city of New York. Some of the laborers thought that therefore the U. S., the state, and the city were guaranteeing deposits. Others, less naïve, were selling their bankbooks at 50 cents on the dollar...
...bank examiners issued no premature estimate of possible losses. City Trust Co., with its main offices and four branches, had deposits of $7,300,000. Its president, F. M. Ferrari, had died Feb. 2. There followed rumors of bad investments, of unsound conditions. It will be months before definite announcement of settlement will be made. Meanwhile depositors have only the comfort of knowing that their demands will be satisfied before those of stockholders...
...cutting operating expenses most roads showed larger earnings per share in spite of many decreases in gross income. These roads reported net operating income of approximately $1,200,000,000, a return of 4.71% on their property investment. The 1927 return was 4.38%. The following table (from Dow, Jones & Co.) gives 1928 and 1927 surplus after charges and earnings per share of the following roads: 1928 1927 Baltimore & Ohio 28.9 12.35 22.6 9.42 Chesapeake & Ohio 28.7 24.29 28.6 24.19 Erie 10.0 4.93 .5 .63 N. Y. Central 50.3 10.85 58.5 13.90 Nickel Plate 0.3 12.51 6.0 15.41 Pennsylvania...
President Harold F. Pitcairn of Pitcairn Aviation, Inc., has found such promise in Juan de la Cierva's Autogiro that last week he organized Pitcairn-Cierva Autogiro Co. of America to develop the autogiro in this country...