Word: garvan
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Dates: during 1930-1939
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Last week these words came from one time Alien Property Custodian Francis Patrick Garvan who mortally fears and hates all things Teuton. Accusing the largest U. S. bank of fraud, he was demanding an inquiry into the flotation last April of $30,000,000 of 5½% convertible debentures of the American I. G. Chemical Corp. by National City Co. Its advertisement of the bonds, he said, intended "to deceive the American public into the belief that the proceeds of these bonds were to be used to foster and finance the development of chemical and allied industries...
...Garvan. No holder of American I. G. bonds is Francis Garvan. He first came into prominence when he was made Alien Property Custodian. One of his acts was to confiscate German chemical patents and sell them to the Chemical Foundation (of which he is head) for the fostering of the U. S. chemical industry. In 1919 he was awarded the Priestley medal "for being the greatest lay patron of chemistry." Later, criminal proceedings were started against him for the sale of the German patents, but he was exonerated...