Word: firms
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Dates: during 1930-1939
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...since the darkest days of the depression have Wall Street and Park Avenue been so agitated as by yesterday's announcement that the New York Stock Exchange has suspended the firm of Richard Whitney & Co. By luncheon time the dismal word had penetrated even such frivolous retreats as the Colony Restaurant and '21.' For once, Mrs. Harrison Williams' clothes, Carrie Munn's crazy hats and Bob Topping's latest escapade ceased to be favorite topics of conversation. . . . Not in our time, in our fathers' time nor in our grandfathers' time has there...
...unsecured loan of $474,000 from J. P. Morgan, his Far Hills estate was mortgaged in September for $300,000 and the total Whitney loss on Distilled Liquors was about $1,600,000. Said Dick Whitney that evening: "I want to say emphatically that the difficulties in which my firm has become involved are the result of actions as to which I alone have responsibility - I fully realize that certain of my actions have been wrong...
...camp recently launched a new line-"B and B" (for Benedictine & Brandy). This combination is familiar to every barfly who has found Benedictine too saccharine, mixed Cognac with it for a drier beverage. In such abrupt mixing, however, brandy floats on rather than blends with Benedictine. The Manhattan liquor firm, of Julius Wile Sons & Co. spent two years persuading the Le Grand family that it could do a better job by aging the two together. Last week Julius Wile got the first shipment, bottled in the ancient bottle devised by the monks and bearing the traditional Benedictine symbol...
...trading. Slowly the ticker tapped out the first sale-100 shares of Lehman Corp. at $25.50 per share. The market was dull. Suddenly the bell rang again, bringing trading to a sharp halt. As a man the hushed brokers turned toward the rostrum to hear an astounding announcement: the firm of Richard Whitney & Co. was unable to meet its obligations...
Just what brought failure to Richard Whitney was not disclosed. It was reported that the firm was heavily involved in Philippine Railway bonds, in cheap railway stocks, in a Curb issue called Distilled Liquors. Meantime the Stock Exchange scheduled a hearing next fortnight, the New York Attorney General launched an investigation, and Richard Whitney & Co. filed a voluntary petition in bankruptcy in Federal court, listing debts of "more than...