Word: garvan
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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...
Coincident with this settlement was a request that the U. S. government discontinue a civil suit brought against onetime Alien Property Custodians Francis P. Garvan and A. Mitchell Palmer, the eleven partners of Hornblower & Weeks, the Chase Securities Co. and others...
...appropriate to have Girl Scouts associated with an exhibition of antique furniture." The antiques - $2,000,000 worth of them including Gilbert Stuart paintings, Queen Anne chairs, a Chippendale clock, a Goddard block front desk - had been lent by people like Mrs. John D. Rockefeller Jr., Mrs. Francis Patrick Garvan, Henry F. du Pont, Walter Jennings. Admissions were charged for the benefit of a $3,000,000 Girl Scout fund which is to be raised in the next five years. Mrs. Hoover brought news from Washington that the American Relief Administration was going to contribute $500,000. Corollary object...
President Hoover's response was a succinct telegram: "Glad to join in congratulating Mr. Garvan and the American Chemical Society on the Priestley Medal award...