Word: glore
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Dates: during 1950-1959
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...methods Schlesinger used to try and raise the money to pay his bills. As he announced an eight-count indictment against Schlesinger, Manhattan District Attorney Frank Hogan charged that Schlesinger had used his mother's name and the reputation of his employers, the investment banking firm of Glore, Forgan & Co., to swindle three prominent businessmen in an oil scheme. The victims: brothers Richard and John Herzfeld, who were part owners of Milwaukee's Boston Store until it sold out to the Federated Department Stores chain (TIME, Dec. 20, 1948), and Robert P. McCulloch. former Milwaukeean...
...Business. Schlesinger, whose job was to drum up new business for Glore, Forgan, first presented his scheme to Raymond Newman, a financial adviser for the Herzfeld brothers and McCulloch. during a visit to Milwaukee to see his father (his mother renounced all claims to the custody of her son when she divorced his father in 1920, and a trust of upwards of $300,000 was set up and later turned over to the lad). Schlesinger said that his mother had put $500,000 in a "hush-hush" Louisiana oilfield. As recounted in the indictment, he said that "Mrs. Harrison Williams...
...BIGGEST HOLDING of railroad bonds, a $65 million block of Baltimore & Ohio, has been unloaded. Investment bankers Glore, Forgan & Co. took $60 million worth and the remaining $5,000,000 went to the B. & O. itself. On the RFC's complete deal with B. & O., which has cost the agency $210 million in various loans and carrying charges, the agency has now got back $179 million, for a technical loss of $31 million. However, RFC has also collected $69 million in interest on its loans to B. & O. over the years, thus actually winds up with a net profit...
...project was so attractive that two of the largest U.S. investment bankers, Manhattan's Dillon, Read & Co. and Glore, Forgan, have agreed to help raise 70% of the cost from big insurance lenders, the rest in equity capital. Ryan, who is planning to deliver gasoline from Beaumont to Newark for a cost of 29? per barrel v. an average of 38? by tanker, expects no trouble in lining up customers from the 50-odd U.S. oil companies with refineries in the Beaumont-Shreveport, La. area...