Word: kuhne
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Dates: during 1930-1939
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...Edward B. Smith & Co., Kidder, Peabody & Co., Brown Harriman & Co., First Boston Corp. head the important syndicate lists today. But one thing is certain: not the least banking province will have as its capital the dark, narrow building at Manhattan's No. 52 William Street-the House of Kuhn, Loeb...
Unlike its old rival at No. 23 Wall, Kuhn, Loeb elected to stay in the securities trade, abandoning its deposits. Traditionally railroad bankers, Kuhn, Loeb has lately widened its industrial friendships, particularly in the steel industry. Inland Steel and Youngstown Sheet & Tube have long been clients, and last year the firm assisted President Tom Mercer Girdler with his Republic Steel merger plans. Last week Kuhn, Loeb was preparing to market $50,000,000 of bonds for Ernest Tener Weir's National Steel-a big industrial issue even in Kuhn, Loeb's long records...
...nearly $40,000,000 of borrowed money when he could pay 4%. Moreover, he was planning for his Detroit plant a new wide strip sheet mill, which is an appallingly expensive aggregation of machinery. Upshot was that by December Steelman Weir and his two top executives frequently darkened the Kuhn, Loeb doors. With some inaccuracy, they were called "the three wisemen of Weirton...
...long expected, Chicago, Milwaukee, St. Paul & Pacific (mileage: 11,226) acknowledged itself in financial difficulties. Hav-ing failed to meet a maturing bond issue, it announced that it would present a reorganization plan before July i. Only seven years ago it emerged from a notoriously expensive reorganization managed by Kuhn. Loeb & Co. But instead of permanently paring the road's topheavy debt, the reorganization reduced fixed charges little, and the total capitalization was actually increased...
...York Times' Washington staff, casually dropped a story hitherto untold by biographers of the financier. The story (to correct the Long-Coughlin estimate of Mr. Baruch's "influence" in Wall Street) : He had yearned to own the Atlantic Coast Line Railroad, had been thwarted by Kuhn, Loeb & Co. and J. P. Morgan & Co. Mr. Baruch confirmed the story: "As a youngster in South Carolina, I used to sit beside the railroad tracks and throw pebbles after the trains as they passed. I even began to dream of owning the road. In later life I still wanted it because...