Word: deficit
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Dates: during 1920-1929
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...trial, Lawyer Littleton said that Sinclair was in no wise connected with the Continental Trading Co., a mysterious, short-lived oil-trading company out of whose profits, transformed into Liberty Bonds, the G. O. P. is now known to have received $160,000 from Sinclair for its Harding campaign deficit. Unless Lawyer Littleton lied to the jury, which Inquisitor Walsh felt was unthinkable, Sinclair must have lied to his lawyer...
...suspicion of many a Wall Streeter that the suppression of the Clearing House statements was prompted by a desire to conceal the banks' lack of sufficient reserves and hence to give a false sense of security to the speculative element of the financial community. Indeed a deficit in reserves had been shown in all but two of the first ten weeks of 1928, an altogether unprecedented situation...
...William Morgan Butler and Will H. Hays-whom Inquisitor Walsh assembled one morning last week for examination. In 1923, Mr. Hays had tried to pass some of Harry Ford Sinclair's oily bonds to Mr. Mellon and Mr. Butler, in return for cash for the G. O. P. deficit. They had declined. But in the four subsequent years, long after all knew of Sinclair's crockery and all during the Senate's efforts to unearth it, none of the trio had breathed a word of the sly Hays plan...
...late Fred W. Upham, then national G. O. P. treasurer, asked Mr. Patten to write out a check for $25,000 to help meet the deficit incurred in the Harding campaign. He said he would give Mr. Patten $25,000 worth of Liberty Bonds in return. The deficit still amounted to six or eight hundred thousands, Mr. Upham told Mr. Patten...
...Patten explained that Mr. Upham had a "taking" way with him. Mr. Upham used to say to Mr. Patten: "I am the dearest friend you've got. I cost you the most money." Mr. Patten, realizing that the deficit had to be met, handed over a check for $25,000. Mr. Upham said he would soon deliver the bonds...