Word: fdic
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...Standard Gas & Electric, wanting the services of such a symbol of integrity, invited leonine Mr. Crowley to be chairman of its board. With apparent White House approval, Leo the Lion took the job. His salary as chairman of FDIC is nothing. His salary from S. G. & E.: $50,000 a year. With Mr. Roosevelt's evident permission, he has assumed half a dozen directorates of other private companies...
...representative on the frozen funds committee is Leo Crowley; and the President has begged Crowley to take over the whole job (though he never got around to giving him an executive order). White-haired Bache lor Crowley is a busy man: he is not only Chairman of FDIC, but of huge Standard Gas & Electric, and a director or officer of eight or ten other firms. Nonetheless, he told the President he would be Alien Property Custodian too provided it were set up as an independent agency...
...Chicago's Mayor Edward J. Kelly, smirking in gentle good will, nodding approval .as his gorilla-shaped bodyguards tipped photographers off-balance as fast as they could get set for a picture. Almost as often came bald Frank C. Walker, oldtime White House adviser, white-haired Leo Crowley, FDIC Chairman who became chairman of Standard Gas & Electric (and is the New Dealers' 1942 hopeful for the Wisconsin Governorship); Jersey City's high-collared Mayor Frank Hague; and a long procession of men who had been tentatively promised the Vice-Presidency...
...Most spectacular performer and No. 3 in profits was Continental Illinois, headed by onetime FDIC Boss Walter Joseph Cummings. During the year in which Continental Illinois retired the last $25 million of $50 million of preferred stock held by RFC, the bank wound up with a net profit of $16,526,010, including $6,882,388 in profits on securities...
...Whether FDIC will get its money back depends on how much it can realize on Integrity's remaining assets, valued on the books at $28,000,000. It hopes not to lose more than $2,500,000. RFC's $4,000,000 of preferred stock, the twelve Philadelphia banks' $3,000,000 of second preferred, the holdings of the common stockholders (priced at $215 a share in 1929) were left in the cold. To George Washington Brown went the compliment of being asked to serve as liquidator of Integrity's frozen assets...