Word: lawyer
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Dates: during 1930-1939
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...White House the President called Colorado's stocky little Senator Alva Blanchard Adams, banker-lawyer chairman of the Senate subcommittee which had charge of the Relief bill. "Little Alva," to whom the President gave "the silent treatment" when he ran for renomination last summer, may not be so brilliant as his late father, "Big Alva," who was Governor of Colorado for two terms, or so colorful as his Uncle Billy, who ranched in the San Luis Valley (whence came Jack Dempsey) and was Governor thrice. But his spine last week was stiff for economy...
...tell risqué stories within its portals. Most desks are roll-tops and on their upper right-hand corners officers' hats are traditionally poised. Last week it looked as though another tradition were forming. For the retirement of First National's Chairman Jackson Eli Reynolds, a onetime lawyer who had no banking experience when he became First National president 17 years ago, gave complete command of Manhattan's ninth largest bank to President Leon Fraser, who also had no commercial banking experience when he became a First National vice president four years...
...adopted child who flunked out of Columbia, then went back to graduate with honors, Leon Fraser became successively a reporter, lawyer, winner of a Distinguished Service Medal in the World War, general counsel for the Dawes Plan and president of the Bank for International Settlements in Basel. This made him an expert at international finance, but left him ignorant of commercial banking (in its puny safe B. I. S. has only two coins, one of them a counterfeit, the other a 25? California gold piece). Chunky Leon Fraser left B. I. S. in 1935 for First National. Two years...
Chase National's bristle-haired Winthrop Aldrich (also a lawyer before he was a banker) as usual took on the job of stating banking's case. Said he: "The fact that total commercial, industrial and agricultural loans have failed to rise in proportion to the great increase in demand deposits, has been cited by many as evidence of a reluctance on the part of the banking community to meet legitimate credit needs. ... In no true sense can credit be 'created' by banks. . . . There must be in the first place willing borrowers...
Augustus Cobb, a New York lawyer, graduated from the Law School in 1872, and when he died in 1930, he left his entire estate in trust for the benefit of his brother, Edward Benedict Cobb. The brother, as life tenant of the estate, had the benefit of it until his death, which occurred last Thanksgiving Day, and the Augustus Cobb estate was then divided into two parts, one going to six New York charities, and the other to Harvard...