Word: lazard
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Dates: during 1930-1939
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...some $300,000 from a loan his bank made to a firm reselling Government steel after the War (TIME, Sept. 6, 1937, et seq.). This year another judge ordered him to pay damages of $651,579 for selling at too low a price some oil lands belonging to certain Lazard Frères heirs in 1915-17. Although he has appealed both cases. Herbert Fleishhacker last week cited them in turning in his resignation. "I feel," said he, "that the best interests of the bank may be prejudiced by my serving as president. . . ." When judgments of $736,485 were returned...
...arbitrary, single-minded fashion. He floated a vast amount of foreign loans, financed railroads, built power plants in Manila and a railroad in Bolivia. But the War upset the applecart of international finance. In 1922 Speyer's London firm dissolved; in 1934 the Lazard Speyer-Ellissen banks in Berlin and Frankfurt dissolved. Speyer & Co. also had its troubles in the U. S. Its share in foreign loans dwindled; its patronage of the St. Louis-San Francisco Railway Co. was profitable but it attracted the unfavorable attention of the ICC. Last week James Speyer, now 76, decided to retire...
Judge Cosgrave presently ruled upon the whole question of the suit: Had Herbert Fleishhacker damaged certain Lazard Freres heirs by selling certain oil lands belonging to them in Kern County, Calif, in 1915-17 for too cheap a price? Deciding that the answer was Yes, Judge Cosgrave ordered Herbert Fleishhacker to pay damages of $300,000. He then sent compliments to Lawyer Neylan for his handling of the case. Comparing himself to Emile Zola defending Dreyfus, Lawyer Neylan stormed back: "I am serving notice now on all those behind the present litigation against Mr. Fleishhacker that I am going...
...case involved transactions dating back to 1919, in which M. Barde & Sons of Seattle and Portland was engaged in the resale of Government steel left over from the War. According to their testimony, three years ago certain Anglo Bank stockholders, mostly members of the great French banking group Lazard Freres, discovered that Banker Fleishhacker had the Anglo Bank lend the Bardes $325,000 to finance the deal but had kept for himself some $300,000 other monies which the Bardes gave him after they had traded the steel...
That Banker Fleishhacker's suits are not ended was evident also in another quarter, Los Angeles, where the same group of angry Lazard Freres heirs is suing Banker Fleishhacker. the Anglo Bank and others for $1,250,000 damages from the sale in 1915-17 of the Lazard oil lands in Kern County, Calif. Banker Fleishhacker stoutly maintains that he was ill at the time and therefore had nothing to do with details of the sale except that he approved it. Asked on the stand if he had ever conspired to defraud Lazard Freres, Herbert Fleish-hacker declared: "Never...