Word: loeb
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Dates: during 1940-1949
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TIME (May 22) says: "The Pennsylvania Railroad Co.'s tart-tongued president, Martin Withington Clement, was once asked by the Interstate Commerce Commission why he let Manhattan's Kuhn, Loeb & Co. underwrite a Pennsy bond issue. Snapped he: 'I deal with whom I please...
...member of the ICC ever asked Mr. Clement why the Pennsylvania Railroad let Kuhn, Loeb & Co. underwrite a Pennsylvania Railroad bond issue. To an insinuation by an attorney for Halsey, Stuart & Co. that the Pennsylvania R.R. was dominated by Kuhn, Loeb & Co., Mr. Clement replied that he, and of course speaking for the Pennsylvania Railroad, dealt with whom they pleased...
...Pennsylvania Railroad Co.'s tart-tongued president, Martin Withington Clement, was once asked by the Interstate Commerce Commission why he let Manhattan's Kuhn, Loeb & Co. underwrite a Pennsy bond issue. Snapped he: "I deal with whom I please...
This resulted from Pennsy's attempt last July to sell a $28,483,000 bond issue of its subsidiary Pennsylvania, Ohio & Detroit Co. through Kuhn, Loeb, which had long been handling most of their refinancing. As usual, prompt objection had come from peppery Cyrus Eaton, boss of Cleveland's Otis & Co., and from publicity-shy, dapper Harold Stuart of Chicago's Halsey, Stuart & Co. Champions of competitive bidding from way back, they cried that the traditional system of financing through private negotiation be tween underwriters and railroads had al lowed Kuhn, Loeb and Manhattan's Morgan...
Caution. This week the market was up again in the first day of trading. But there are still plenty of Calamity Janes on the Street. Brilliant, bespectacled Gerald M. Loeb, E. F. Hutton partner, reflecting the still-prevalent pessimism, said: "I am bullish for the near term and rather indifferent as to the long term...