Word: leas
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Dates: during 1930-1939
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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...
...year after the 1929 stockmarket crash, the Lea-Caldwell enterprises tottered along, then suddenly collapsed. Their banks went under one after another, stripping thousands and thousands of citizens in and out of Tennessee of their deposits. Three bank officials committed suicide. Lea-Caldwell newspapers were thrown into receivership and Messrs. Lea and Caldwell were indicted in State and Federal courts...
Last week the legislative investigating committee finished its work, reported that Governor Horton was virtually a Lea-Caldwell dummy. Fifty of the 99 House votes are required to impeach. By a vote of 71 to 25 the House named another committee to study the investigators' report and from it, if necessary, prepare impeachment articles. Chairman of this committee was Representative Tipton who, a day after his portentous announcement, brought in his first article with more to follow. Described in a 65-page accusation was a Horton-Lea-Caldwell conspiracy "to commit acts for the personal aggrandizement and pecuniary gain...
...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...