Word: lehman
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Dates: during 1930-1939
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...Williams was one of the members of last week's purchasing group, he will presumably get back his Central States shares and Mr. Odium will be pretty well out of North American. But chief reason for sale of Blue Ridge was the large profit returned on the investment. Lehman Bros. The banking house of Lehman Bros, dates from 1850, when Brothers Mayer and Emanuel Lehman, emigrating from Germany, started a cotton commission business in Montgomery, Ala. The Civil War ruined the cotton business; in 1867 the brothers moved to New York. They helped form the Cotton Exchange, floated bonds...
...Arthur Lehman, No. 2 partner, son of Mayer (and brother of New York's Governor Herbert Lehman) is head of The Lehman Corp., an investment trust which the brothers founded in September 1929. He collects tapestries, heads Jewish charity drives, gave Lehman Hall (administration building) to Harvard in 1924, married Adele Lewisohn. Allan Lehman, grandson of Mayer and son of the late Sigmund Lehman, likes tennis, squash, fishing. From the Restigouche River in New Brunswick he sends home salmon to his friends, his acquaintances, his barber. Robert Lehman, grandson of Emanuel and son of Philip, married Ruth Owen Meeker...
...executives turn in expense accounts. But he cut off so many heads and stepped on so many toes that in 1933 he resigned, reputedly over the question of John Hertz authority versus Adolph Zukor authority. The second retirement also failed to take, and in January 1934 he became a Lehman partner...
Compensation must be reasonable. Most of the claims rendered were for the performance of useful and legitimate services but only in a few instances did Judge Coxe agree with the claimant's estimate of what those services were worth. Thus it was admitted that Cook, Nathan & Lehman, attorneys for the stockholders' committee, were "responsible in large measure for the fact that the stockholders' rights have been preserved." But where Cook, Nathan & Lehman claimed $250,000, Judge Coxe allowed them $115,000. Similarly Root, Clark, Buckner & Ballantine, attorneys for the receivers and trustees, specified that partners...
...David Sarnoff, short, round-faced head of Radio Corp. said, in effect, to his troublesome corporate offspring: "Go and never darken my door again." But the orphan was not put out into any storm. Waiting to receive it was Floyd Bostwick Odium's Atlas Corp. which, together with Lehman Bros., Manhattan banking house, bought an unspecified portion of RCA's holdings in RKO stocks and debentures. What Atlas and Lehman paid for their purchase was equally unstated but, inasmuch as the deal carried an option to buy whatever RKO securities Radio Corp. may still hold, the transaction...