Word: firming
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Dates: during 1930-1939
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...loss for tax purposes, nothing would prevent him from limiting his sales to an even $20,000 loss and saving his other $10,000 loss to be realized by sale the following year. Had such a limitation been in effect when Mr. Gilbert was made a Morgan Partner, the firm would either have had to hold him outside for another year or confine its $21,000,000 loss to 1931 incomes...
Died. James Loeb, 65, banker and philanthropist, son of the founder of Manhattan's famed Kuhn, Loeb & Co.; of pneumonia; in Murnau, Germany. After retiring from partnership in his father's firm in 1901, he went abroad to live, devoted his wealth to literature and music. Best known Loeb benefactions: Manhattan's Institute of Musical Art, the Loeb Classical Library, the Psychiatric Experimental Institute in Munich...
...dull day at the Morgan hearing yesterday. All that was brought out was that the firm had been for years the trusted financial agent for the great governments of the world, that since 1919 it had been concerned in the issuance of $6,000,000.000 worth of securities, that it had sought to foster the fortunes of the two famous academies at Andover and Exeter, that it had tried to help a much beloved ex-President of the United States to make a little money for his old age and that any corrupt political 'hookup' or intent could...
...from a line of wealthy New England traders. His grandfather, Joseph Morgan, had kept an inn and had been a pioneer in the extremely lucrative insurance business of Hartford, Conn. John Pierpont Morgan went to New York as a private banker. In 1894 he took partners forming the present firm. In the following years, as everyone knows, he performed dazzling feats of finance on a scale unprecedented. These included the formation of U. S. Steel and many another of the greatest corporations which have made a large part of industrial history since. When he died, his son inherited most...
...greatest of these was the late Henry P. Davison who, raised among Pennsylvania farmers, said he had spent more time milking cows than attending directors' meetings. Others: Thomas W. Lamont, 62 (who succeeded on Mr. Davi-son's death in 1922 to the greatest reputation in the firm); and three much older men: Charles Steele, a venerable lawyer of the early "trust" forming days; Philadelphia's Edward T. Stotesbury, a drummer boy in the Civil War whom the present generation recollects as a socialite yachtsman; and Horatio G. Lloyd who leads a homey life in recent years...