Word: coeds
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Dates: during 1950-1959
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...Miami Beach there were opinions to fit every account. Said Louis E. Corrington Jr., president of Chicago's Southmoor Bank & Trust Co.: "Right now, money is the tightest I have ever seen it. It will be worse after the steel strike is over and companies start building inventories and go to the banks to borrow." Said Russell H. Eichman, vice president of Cleveland's Central National Bank: "If the steel strike requires a slowing up of auto sales, that in itself will automatically ease the tight money situation." Said Scott L. Moore, president of the American National Bank...
...whose views were most eagerly sought is a tall (6 ft. i in.), slim (160 Ibs.), handsome New Yorker named Henry Clay Alexander. At 57, Alexander is chairman of Manhattan's Morgan Guaranty Trust Co. and perhaps the nation's most prestigious banker. He is heir to the famed tradition of the House of Morgan, which created huge industrial firms, bailed out whole governments and at the turn of the century all but controlled the financial destiny of the U.S. Morgan is still a name to conjure with. Its famed building at 23 Wall St. is known throughout...
Henry Alexander's prestige does not depend on tradition alone; it rests on what he has done to rescue the House of Morgan from decline and restore it once more to the first ranks of U.S. finance. Less than a year ago, J. P. Morgan & Co. was in tenth place among New York commercial banks and 28th in the U.S. It was hard pressed for enough money to lend its rapidly increasing number of customers. Then Alexander pulled off a coup that Wall Street dubbed "Jonah swallowing the whale." He worked out a merger with the much larger Guaranty...
...powerful that he helped run it. Morgan left his father's London banking firm at 20 to try his own luck on Wall Street. After acting as agent for his father's firm, he went into business for himself under the name of J. Pierpont Morgan & Co. He performed dazzling feats of finance one after another. His method was to buy control of banks and other financial institutions, use them to seize a dominating role in corporations, then reorganize, merge and centralize the corporations in a process that became known as "Morganization...
...finance passed from Wall Street to Washington. Regulatory bodies were established, restrictive bills passed, the Federal Reserve strengthened. The Banking Act of 1933 forced Morgan to split off its investment-banking activities, and a group of partners left to form the separate investment house of Morgan, Stanley & Co...