Word: loeb
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Dates: during 1930-1939
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...respect therefore the Senate can question only the shadow cast by the banking house founded by two solid commission merchants from Cincinnati, Abraham Kuhn and Solomon Loeb-the house reared to greatness by great Jacob Schiff who died...
Only a few Kuhn, Loeb partners were, however, able to brush up their memories. For the first noteworthy fact about Kuhn, Loeb today is that of its eleven partners only two were members of the firm prior to 1928: Felix Warburg, elected 1896, now active only in an advisory capacity, whose chief concern today is with the long tier of filing cabinets containing the desiers of his numberless charities which stand behind his desk in the K. L. office; Otto Kahn, elected 1897, diplomat of the firm, whose numerous public and private appearances, not to mention ill health, have...
...house survives in something more than name for it has always been a family firm. The House of Morgan until, very recent times selected practically all its partners from outside its family. Kuhn, Loeb pursued just the reverse policy. Felix Warburg was son-in-law of Jacob Schiff. Otto Kahn was son-in-law of the late Abraham Wolff (one of the early partners). Since 1931 Felix Warburg's wisecracking Son Frederick, Otto Kahn's twice-married Son Gilbert, have been members of the firm. And Jacob Schiff's Grandson John, only 26 years old, became...
...straight banking is not one of its jobs. It carries accounts for merchants but no checking accounts. Its primary business has been securities, railroad securities in particular. Kuhn, Loeb railroads include the North Western, the Delaware & Hudson, Illinois Central, Norfolk & Western, Pennsylvania, Southern Pacific, Paris-Lyon-Mediteranée. Kuhn, Loeb's railroad reorganizations include such famed roads as the B. & O., St. Paul...
...Loeb backed E. H. Harriman against Hill (backed by Morgan) in the struggle for control of the Northern Pacific. Jacob Schiff, dining in London dur ing the Russo-Japanese War, met Korekiyo Takahashi (now at 78 Finance Minister of Japan), and on the strength of an eve ning's conversation became Japan's banker, sold $200,000,000 of her bonds in the U. S. (biggest international loan prior to the World War). Since then K. L. has floated leans for Sweden, Holland, Austria, Argentina, for Antwerp. Paris. Marseilles and many another state and city...