Word: cooperativeness
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...several voluntary rate cuts. In the same period the associated companies made an average of 6.7%. Commission Accountant J. A. Krug noted that while the operating companies were subject to state regulation, A. T. & T.'s long lines department was not. A. T. & T. Vice President Charles Proctor Cooper's explanation: "It is inevitable that earnings on various parts of a nation-wide system will vary from-time to time...
...Harriman bank stock on the market, he concluded that criminal prosecution of Bankster Harriman just then would endanger other Clearing House banks. To postpone such prosecution until the bank's affairs were in order, Mr. Harriman was eased into the board chairmanship, and Mr. McCain induced Henry Elliott Cooper, onetime Chase National vice president, to take the presidency of Harriman National Bank & Trust. On the witness stand last week Mr. Cooper recalled that Mr. McCain had said: "We won't let your bank fail, Henry. The Clearing House will stand behind you regardless." Mr. McCain later gave...
However, when Mr. Cooper went around to the Clearing House Association the following March to ask for $200,000 to enable the sapped Harriman bank to reopen after the 1933 bank holiday, he found the atmosphere distinctly chilly. Mortimer Norton Buckner, then president of the Clearing House Association and chairman of New York Trust, one of the eleven banks to settle, testified last week that most of the members were willing to contribute their share of the $6,300,000 actually needed to make up the Harriman losses, but that two banks, Guaranty Trust and Bankers' Trust, broke...
...Buckner arose," Banker Cooper testified last week, "and told me the Clearing House committee was not prepared to go through with it. I said: 'You mean this loan?' He said: 'No, this whole arrangement.' I said: 'You don't mean your pledges to stand behind the bank?' and he said: 'I'm afraid so.' I told him that they had given undeniable pledges and that I would not stand...
Able defense lawyers worked hard last week to show that the pledges mentioned by Mr. Cooper were not binding on the member banks. From Banker McCain they drew admissions that at the time he gave his assurances to Mr. Cooper and the Federal Comptroller he had consulted only a few of the banks. There was no explicit agreement with them to supply money for Harriman deficits. Moreover, Banker McCain knew he had no authority to guarantee the bank deposits on their behalf...