Word: garvan
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...without difficulties did the management of the Brady estate by the Brady sons progress. In 1923 the Brady sisters, Mrs Francis Patrick Garvan, wife of onetime Alien Property Custodian Garvan, famed Watchdog of U. S. Chemical industry, Mrs James C. Farrell, and Mrs. Carl Tuck sued the two sons charging mismanagement and converting of funds to their own instead of the estate's use. The suit was finally dismissed...
Another act of Custodian Garvan was to sell the confiscated Bosch Magneto Co. For this he was charged with defrauding the government of $5,500,000 but the case was dismissed last fortnight. From these things he probably conceived his great hate of the Teuton shadow. Last week he accused Senator Moses, former State Attorney General Merton E. Lewis, Banker Otto Hermann Kahn "and his partner Warburg," Oswald Garrison Villard (editor of The Nation), and others, of German propaganda-all in his lengthy written attack on American I. G. Chemical Corp., which he sent to the office of the State...
...addition to his charge that the company is a German menace, Mr. Garvan based his fraud accusations on the following ideas: 1) the debentures are convertible into common stock which the company can redeem, thereby assuring German control; 2) Paul Warburg received an honorary Ph. D. from Heidelberg in 1927, W. E. Weiss a similar degree from Cologne in 1928, were thereby influenced to lend their names to the company, while others received "considerations having nothing to do with the interests of the company...
Behind Mr. Garvan's accusations, therefore, seemed only fear for the future of the U. S. chemical industry. Col. Herman A. Metz, vice president and treasurer of American I. G. and one of the chief objects of the Garvan fury, said, "Frank thinks he is doing a great public service, but doesn't know the War is over, and is talking through his hat." He added that 95% of all dyes are now made in the U. S. and that U. S. concerns are selling dyestuffs in Germany in direct competition with I. G. Farbenindustrie...
...More than half the U. S. business is done by its three biggest companies: du Pont, Allied Chemical & Dye, Union Carbide & Carbon. Excluding du Pont's investment in General Motors, the total assets of these three come to $585,718,000-or nearly twice the size of the Garvan-feared I. G. Farben-industrie...