Word: halseyisms
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Dawes National Bank, which may or may not be the final name of the new bank being started by General Charles Gates Dawes (TIME, Sept. 12), reached a point where shares were being sold by a syndicate headed by Harold Leonard Stuart of Halsey, Stuart & Co., Col. William Franklin Knox, publisher of the Chicago Daily News and Rawleigh Warner, vice president of Brothers Beman and Henry Dawes's Pure Oil Co. The organizing committee was said to include President Sewell Lee Avery of both U. S. Gypsum and Montgomery Ward, Owen D. Young, President Robert E. Wood of Sears, Roebuck...
Other steps taken by Mr. Hopson to pull himself out of his fix: 1) as with Staten Island Edison, offering to exchange new bonds for those falling due; 2) borrowing $3.500,000 last week from a group headed by Chase Harris Forbes and Halsey, Stuart & Co. to pay off holders who turned down his offers; 3) starting an intensive campaign to sell strong mortgage bonds of his operating subsidiaries to his customers and his security holders...
...funds. Mr. Insull was unable to get them from Chicago bankers, a fact he has twitted them with on many an occasion. He went to London and obtained a loan of $1,200,000 from London Trust Co. In later years much of the Insull financing was handled by Halsey, Stuart & Co. and some of the securities were sold abroad. While Mr. Insull is virtually a dictator of Commonwealth Edison, he has never been more than a large investor...
...policies and management. This is accomplished now by Corporation Securities Co. and Insull Utility Investments, Inc. both large investors in his group and at the top of the pyramid. Corporation Securities is controlled by three trustees, Mr. Insull, his son Samuel Insull Jr. and Harold Leonard Stuart of Halsey, Stuart & Co. The two companies have bank loans of around 80 millions scarcely covered by the present market value of their holdings. Notes of Insull Utility Investments sold at around 2 5/8% of par last week, indicating the general feeling that nothing will be done for these two companies...
...receivership. Prompt to protest was Chairman Long, now a thin, grey, tight-lipped little man of 87 whose wrinkled face wears a placid look. Proud of his company, old Robert Long was sure that the troubles of 1930-32 would vanish as did those of 1874-75. Surprisingly, Halsey, Stuart & Co. (who sold the bonds), agreed, denounced the move as "decidedly destructive." In the fight that loomed last week Old Robert was not the example of a great name bowed as was Rudolph Spreckels, nor were his troubles those of new competition which befell Col. Carrington's Hudson River...