Word: insulland
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When three years later all was over-when Insulland came a cropper to the tune of $750,000,000, most of it lost by smalltime investors-the U. S. was ready to elect a New Deal, to whom Samuel Insull and his ill-reputed holding companies were anathema. Even though Insull was eventually acquitted of using the mails to defraud, of embezzlement and of violating the Bankruptcy Act, the emotion generated by the Insull crash made it possible for Franklin Roosevelt to secure from Congress a "death sentence" for utility holding companies...
...ribbon counter to old age. Of such is President McKinlay, a quiet, determined gentleman with a love for traveling, who was born 60 years ago in Scotland, only 40 mi. from the birth place of his predecessor, able James Simpson, who left Field's to solve the troubles of Insulland (TIME, June 13, 1932). And as long as President McKinlay's store sells more goods than any other in the U. S.?Macy's excepted?he is content to let other merchants debate whether an Institution can be a store...
When he was in Manhattan last week Samuel Insull represented a tremendous industrial Empire in bad need of cash. Insulland has 13 million inhabitants, more than one-fourth of whom are customers. It employs 50,000 men. It is a conglomeration of over 150 companies. Before the difficulties of Mr. Insull's position were apparent, the securities of the Insull group had a total market value of over three billion dollars. In 1929 their combined earning power was set at a half-billion. Chief divisions of Insulland...
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