Word: gianninis
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When, last March, Elisha Walker's Blair & Co. merged with Amadeo Peter Giannini's Bank of America, N. A. (TIME, April 1), the union was generally interpreted as a combination of Giannini resources with Blair & Co. personnel. When, last month (TIME, June 3), Banker Giannini announced that his 60th birthday (1870-1930) would mark his retirement, evident became Elisha Walker's position as Heir Apparent. Thus last week's amalgamation of Bank of America, N. A., with Chatham and Phenix National Bank and Trust Co. might well have been regarded as First Result of Blair...
Large among San Francisco banks are Crocker First National, Crocker First Federal Trust Co. and American Trust Co. Last week these three institutions merged into one, became rival to Amadeo Peter Giannini's many-branched Bank of Italy. Resources of the merged companies will be more than $400,000,000; deposits more than...
Central figures in the merger are Amadeo Peter Giannini (who last year secured control of Bank of America and made his brother Attilio Giannini chairman of its board) and Elisha Walker, leader of Blair & Co. With the acquisition of Blair & Co., Mr. Giannini has given his Bank of America a potent investment banking organization that will secure him an entrance into many an investment syndicate that Bancamerica does not reach. Sensational has been Blair & Co.'s success in recent years, its oil operations having culminated in the organization of the recently formed Petroleum Corp., $100,000,000 oil investment...
Money. Amadeo Peter Giannini of San Francisco (TIME, March 5, 1928) controls through his Trans-America Corp. the 117-year-old Bank of America National Assn., resources $416,000,000. Active, persistent is the rumor that it is to be acquired by the 52-year-old Chase National Bank, resources $1,430,000,000. The merged institution would be the peer, in size, of the National City Bank of New York, although not of the new Guaranty Trust Co.-National Bank of Commerce combination...
Other Tycoons. Incomplete must be any brief list of San Francisco financiers. Thus San Franciscans might well object to the omission of John Drum, head of American Trust Co., now, after many mergers, San Francisco's large independent bank ($273,776,849 in deposits). Like Giannini, Mr. Drum is a Papal Knight. He is most famed for his starry-domed marble bungalow atop the Fairmont Hotel atop Nob Hill. Notable also is able Frank B. Anderson, board chairman of Bank of California; his chief idiosyncrasy, a fondness for donkeys. Paul Shoup, President of Southern Pacific Co. also stands high...