Word: lea
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...charge against him: criminal conspiracy. Named as his coconspirators: Luke Lea (52), onetime U. S. Senator, publisher of the Nashville Tennessean, the man who tried to kidnap the Kaiser from Holland as a Christmas present for President Wilson; and Rogers Clark ("Bank On the South") Caldwell, high-flying Tennessee financier and promoter. Last November Lea-Caldwell enterprises, which were beginning to take the whole South for their province, went crashing down into the dust of Depression (TIME, Nov. 24). Last week it seemed likely that their financial crash would rock Governor Horton, their friend and ally, down into political ruin...
...companies, investment trusts, realty developments. His domain spread into Kentucky, Missouri, Alabama, Georgia, Arkansas, North Carolina. Self-confident, ambitious, no financial scheme was too big for him to tackle. He believed in the economic destiny of the South, sought to force its maturity. To his aid he drew Col. Lea, an experienced politician and publicist. Together they bought newspapers, extended their holdings, yearned for more power. Times were good. They borrowed heavily for fresh expansions, pyramided one new financial structure on top of another. Needing a friend at Nashville they "adopted" Governor Horton, insured his election with their press. Always...
...Weren't practically all the transactions that Colonel Lea had with this institution kites, except when he borrowed?" "Yes, I would say they were." Asking the question was Robert L. McReynolds, counsel of a committee looking into the alleged misuse of Tennessee funds, last week looking especially into the affairs of Col. Luke Lea, publisher, politician, crony of bankrupt Rogers Clark Caldwell (TIME, Nov. 24 et seq.). Answering was M. D. Johnson, assistant cashier of the defunct Liberty Bank & Trust Co. of Nashville, whose president, Ridley Edward Donnell, shot himself after the bank closed. Witness Johnson also testified that...
...kite is to draw upon a bank account in which there is at the moment less money than the draft. Example: Perhaps Col. Lea one day deposited in Liberty Bank a check of $1,000,000 drawn against a Missouri bank. Properly speaking, he would have had no money in Liberty Bank until the check had been cleared. But his good friend Mr. Donnell might have let him draw $500,000 against the deposit at once, thus kiting. If at the same time he in reality had no money in the Missouri bank but had merely deposited there a check...
From Florida, ex-Banker Ramsey telegraphed his bond. At home in Nashville, Mr. Caldwell and Col. Lea let their attorney, Albert Williams, onetime Tennessee Commissioner of Taxation, arrange their bonds. On the fourth Monday in May the Federal Court will convene, hear the defense...