Word: loeb
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Dates: during 1930-1939
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Late in August 1924, Justice John Richard Caverly of Chicago heard the last arguments in the Loeb-Leopold murder case, retired to wrestle with the record and his conscience before deciding whether the boy-killers should live or die. To his door went two Chicago Tribune newshawks, a man and a woman. They were covering the trial, but this time they wanted no news. Hesitantly the man spoke...
...first major piece of new public railroad financing since President Roosevelt took office was announced last week when Pennsylvania Railroad sold to Kuhn. Loeb & Co. for public offering a $50,000,000 4½% bond issue, maturing in 1984. Proceeds are to be used for "proper corporate purposes." Like all railroad securities the issue was exempt from the Securities Act, though its underwriters were subject to the equally drastic Investment Bankers Code. The prospectus issued by Kuhn, Loeb contained Pennsylvania Railroad's condensed income statement for ten years and a letter from President William Wallace Atterbury reporting that...
...Kuhn, Loeb Partner George Wallace Bovenizer was elected president of the Investment Bankers Association to fill out the unexpired term of Robert E. Christie Jr. who died while in an airplane flight to Chicago fortnight ago. Ireland-born, Manhattan-educated, Mr. Bovenizer started with Kuhn, Loeb as an office boy in 1897. Big, genial, approachable, he was elected a partner 30 years later, is immensely popular as manager of Kuhn, Loeb's bond and syndicate department...
...because its management had been tempted to speculate in real estate as a sideline. Another was Associated Telephone Utilities, which I. C. C. Commissioner Splawn lately held up to Congress as a horrible example of inflated capitalization. Paramount Publix, once believed to be so conservatively managed that Kuhn, Loeb gladly underwrote its bonds, was in line early. Innocent-looking contracts to repurchase its own stock at $80 per share had tripped Paramount. Disgruntled bondholders grabbed at a new means to throw Associated Gas & Electric into the courts. Others include National Department Stores, Roxy Theatre Corp., Hamilton...
...last week most other Wall Street banking houses had also made their choice under the new law. Kuhn, Loeb was understood to have selected securities. Firms like Kidder, Peabody; Lehman Brothers; Goldman, Sachs; Spencer Trask; 00 J. & W. Seligman, which accepted deposits largely as an accommodation lor their investing clients, will also continue as brokers, dealers and underwriters. A. Iselin & Co. and Heidelbach, Ickelheimer & Co. preferred to retain their large foreign banking businesses...