Word: lehman
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Dates: during 1930-1939
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...treasuried New York City what Franklin D. Roosevelt was to the Depression-ridden U. S., determined to make over the city government as the President was making over the Federal Government. When Mayor LaGuardia demanded a bill from the New-York Legislature giving him drastic powers, Governor Herbert Henry Lehman called him promptly to order. The Mayor went to Albany and an amicable settlement was reached. The Mayor agreed not to ask dictatorial powers for himself but to have the necessary authority for revamping the city government and balancing the city budget given to the Board of Estimate (which...
...unnerved last Saturday night by a top-hatted apparition in the shrubbery beside Kirkland House, impatiently pushing twigs out of his eyes and muttering to himself. One, more curious than his fellows, drew nearer to do a little caves dropping. The muttering resolved itself into: "You'd think that Lehman Hall could afford to lay a sidewalk here...
Last week in Manhattan George Van Schaick was the chief witness in a State investigation to determine whether he had faithfully obeyed that order. Governor Lehman had ordered the investigation at Commissioner Van Schaick's own request. But the curious thing about the probe was that almost no one had ever criticized the Commissioner's supervision of New York's big life companies. What had drawn fire was a business tucked away in the department's "miscellaneous bureau"-guaranteed mortgage companies...
Hastily Governor Lehman secured legislation creating a quasi-public protective committee to salvage something for the hundreds of thousands of investors who had bought mortgage bonds on the strength of the "guarantee." In August a flock of small solvent companies were permitted to reopen. The rest with 97% of the outstanding guarantees were taken over for "rehabilitation...
...reach a compromise as for Mayor LaGuardia. And having reached it, it was even more essential that he get the measure passed. This was no easy job. The Upper House has a Democratic majority of one, but they are mostly Tammanymen who waged a bitter fight against Lehman (& Roosevelt) two years ago. The Lower House is Republican but two factions of Repub licans spent eight days quarreling over the election of a clerk. Finally on the ninth day the Assembly got itself organized, prepared to send the Economy Bill to a special committee. When the compromise bill was finally introduced...