Word: j
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Dates: during 1920-1929
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Tracing the electrical activity of J. P. Morgan & Co. would not be difficult if the matter could be expressed in terms of Mr. Morgan personally exchanging bags of gold for turbines and transmission systems. Unfortunately, however, the utility field does not lend itself to such simplification. The House of Morgan is not sole owner of any of the utility companies in which it is interested; its holdings are usually no more than a substantial minority, not including an operating control; and if it chooses to regard itself as investor in many companies but as manager of none, such a position...
Entrance of the Morgan company into the utility field came in January 1929, with the formation of United Corporation, a company established by J. P. Morgan & Co., Drexel & Co. and Bonbright & Co. and with executive offices at 23 Wall St. (Morgan home). By June 29, United Corp. had the following holdings in the following utilities...
...Edison and Consolidated Gas for good measure. It was also rumored that Niagara-Hudson was negotiating with Stone & Webster for Eastern Utilities Associates, a group of light and power companies operating chiefly in New England. Out of all the rumors and rumbles, however, salient emerging points were: 1) That J. P. Morgan & Co. has undoubtedly become acutely interested in light and power; 2) That in nine months it has made swift and certain progress; 3) But that the public utility situation, even in New York State alone, should certainly not be interpreted in terms of Mr. Morgan's throwing...
Died. Rev. Ole John Kvale, 60, of Benson, Minn., U. S. Representative from Minnesota (successor to Andrew J. Volstead) ; when his cottage at Otter Tail Lake, Minn., burned...
...institution called the Lincoln Scholarship Fund. This Fund started functioning last week in Manhattan. Its campaign: to raise $1,120,000 to lend as tuition fees to "anyone, regardless of age, race, color or creed who can furnish proof of need and sincerity of purpose." Its founder: Jacob J. Vandever, onetime (1922) President of the New York Rotary Club, and active philanthropist who likes to dress up as "Father Knickerbocker" each year for the outing of the Broadway Association, booster organization. Associated with Founder Vandever on a national advisory committee are such varied figures as the Hon. Theodore Gilmore Bilbo...