Word: crowley
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Dates: during 1930-1939
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Victor Emmanuel, unlike the Byllesby interests, believes that butter is better than cannon in dealing with the New Deal. Fortnight ago, he hired a new president for Standard, white-haired, McNuttish-looking Leo Thomas Crowley, since 1934 chairman of FDIC. He hired Mr. Crowley through Washington's No. i Big Money employment office, Jesse Jones's RFC, the same office which placed Mr. Crowley's FDIC predecessor, Jones Protege Walter Cummings (TIME, Nov. 27), who heads Chicago's huge Continental Illinois Bank...
...years official executioner for New York, New Jersey, Pennsylvania, Connecticut, Vermont, Massachusetts; of coronary embolism; in Richmond Hill, N. Y. Named for a Methodist minister who opposed capital punishment, tall, grey Robert Elliott electrocuted 400 persons, five of them women. Among them: Ruth Snyder & Judd Gray, Two-Gun Crowley, Sacco & Vanzetti, Bruno Richard Hauptmann. Successor to his $150-a-night job: Joseph Francel, 42, American Legionnaire, garageman and electrician, who has already officiated once, when Robert Elliott was confined to his bed last summer...
Less than a month later Arkansas Public Utilitycoon Harvey Crowley Couch, second largest stockholder in Kansas City Southern (largest: Amsterdam Trust Office, The Netherlands), became its president. Between expanding his inland public-utility empire and working for the New Deal as director of RFC (1932-34), Ozarker Couch had also obtained control of Louisiana & Arkansas. Of that road his younger brother (by 13 years) Charles Peter Couch has been president since Harvey gave...
Naming no names, Bank Overseer Crowley let off a blast against the things he believes are responsible for this condition: against the views of Federal Reserve Chairman Marriner Eccles that bank credit and investment policies should be liberalized to suit Administration policy; against banks which have increased dividends (from $187,595,000 in 1934 to $221,904,000 in 1937-38) faster than earnings warranted. In December 1934 when commercial banks' deposits amounted to $38,996,340,000, capital stood at $6,151,567,000. At the end of last year when de posits had increased...
Certainly no new capital is now going willingly into the banking business, which can hardly earn a living at present interest rates. Chairman Crowley proposed to prepare against future crises by boosting its rate of assessment against insured bank deposits. This would of course further reduce bank earnings, further reduce the chances of getting any new capital into the banking business...