Word: dillons
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...through J. P. Morgan & Co. offered $120,000,000 of debenture bonds at 5%. Morgan's merely opened their books and snapped them shut, for $500,000,000 in subscriptions tumbled in. Immediately, Standard Oil of New York offered $50,000,000 debenture bonds at 4½% interest. Dillon, Read & Co. bought them all up, knowing that the bonds had a swift sale.* Standard Oil of New Jersey's yearly interest on this item will be $6,000,000. Had its bonds been sold at the 4½% of its sister company's it would have saved...
That may well be within reason, for they have been able to loan money, with profit to themselves, at 2% interest. That was how they could prevent Dillon, Read & Co.* from underwriting all the $60,000,000 bonds of the newly organized German United Steel Works-the consolidation of Thyssen, Phenix, Rheinstal, Deutsch-Luxembourg steel corporations (TIME, July 5). They permitted Dillon, Read to take only one-half of the offering. They took the other half themselves...
...Disconto has dealt with W. A. Harriman & Co. and more recently with Dillon, Read & Co. Deutsche's correspondents have been J. Henry Schroeder & Co. and Speyer...
...Dillon, Read has vast plans for German financial penetration, would not needlessly provoke competitors. This week this U. S. investment house expects to offer about $30,000,000 of securities for the German electrical manufacturer, Siemens-Schuckert Halske, will market some in the Netherlands and Germany. The banks already control the German General Electric Co., which dominates the German electrical business...
...fiscally enthroned over Germany as Agent General of Reparations. Beside 34-year-old Seymour Parker Gilbert such financiers as John Pierpont Morgan, 59, of 23 Wall Street, loom as fiscal gaffers. Yet there are among active U. S. fiscal titans men of a youthful middle age. For example, Clarence Dillon, of Dillon, Read & Co., is 44. Mr. Dillon is of course the enfant terrible of Wall Street, "a comer," who has "come," a dollar-genius brilliant enough to negotiate the sale of Dodge motors last year for $146,000,000 cash, yet sufficient ly orthodox to declare: "There...