Word: gianninis
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Dates: during 1930-1939
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...Continued its catch-as-catch-can bout with potent Transamerica Corp. Going into its fifth week, SEC's investigation of A. P. Giannini's big bank holding company, on charges of false stock registration (TIME, Dec. 12), was still in the legal fencing stage...
...test of a man is the fight he makes," is the motto that hangs in the San Francisco office of shy, chunky Banker Ashby Oliver Stewart. This is the sort of spirit to endear him to famed Banker Amadeo Peter Giannini, currently facing the biggest fight of his career, result of an SEC crackdown charging Giannini's Transamerica Corp. with a false and misleading securities registration (TIME, Dec. 12). In 1933 Banker Stewart took over from "A. P." the Bankitaly Mortgage Co. Last week he took over a "large block of stock" and the chairmanship of Bancamerica-Blair, investment...
Without warning, SEC had threatened to delist Transamerica stock on the charge that its registration statement contained "false and misleading statements." That all was not rosy between Banker Giannini and the New Deal was first indicated last spring when Franklin Roosevelt in his monopoly message called for "gradual separation of banks from holding com pany control." Wise old A. P. had already prepared for such a contingency year and a half ago by rearranging Transamerica's stock so it could be switched quickly to an investment trust. It was on this realignment that SEC last week cracked down with...
...Until recently, comptroller was bubbling J. F. T. O'Connor, who resigned to run for Governor of California. Mr. O'Connor's successor is Preston Delano, and banking gossip for several weeks has held that there would soon be a tightening of Federal supervision over Banker Giannini's finances. That A. P. himself smelled a mouse became clear last month when he startled the American Bankers Association convention by announcing that he was "fed up with some of the people down in Washington...
...charged with bank supervision, was known to have rushed to Warm Springs to complain to Franklin Roosevelt that the Reserve had not been consulted until two days before SEC cut loose. Here was the sort of division in the enemy's ranks which a great fighter like Amadeo Giannini could not fail to spot. Holding his tongue with difficulty as Transamerica stock broke a hefty $30,000,000 worth, he limited himself to snapping: "We are firmly of the belief that the motive behind this complaint is one calculated definitely to prejudice Transamerica Corp. in the eyes...