Word: haggerson
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Dates: during 1930-1939
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...February 1929, Mr. Huston had a stock margin account, under another name, with the Manhattan brokerage firm of Blyth & Bonner. He was $19.381 short. From Fred H. Haggerson, head of Union Carbide, he urgently solicited $22,000 on the plea that it was necessary to keep his Muscle Shoals lobby alive. He put this sum into his stock margin account. In June he obtained from Union Carbide another "contribution" of $14,100 which also went to Blyth & Bonner, as margin for the purchase of $46,000 worth of stocks, from which he secured a profit of $526. Not until...
...witness stand last week Mr. Huston tried to explain away the appearance of stock trading on his lobby's funds. He said the Union Carbide contribution had been made for Muscle Shoals maps and data-a statement Mr. Haggerson denied. He insisted that the deposit of the money in a stock account instead of in a bank was only "a business convenience." His $526 profit he claimed was really unpaid interest on sums he had already advanced...
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