Word: made
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Dates: during 1930-1939
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Dollars & Men. Had the U. S. not entered the War quite a number of U. S. citizens might have made far more money. On the $500,000,000 British and French loan of October 1915 a group of American bankers headed by the House of Morgan made $9,000,000 on the spread between the purchase price (96) and the selling price (98). Of this sum the Morgan firm received $66,000. From its 1% commission as purchasing agent for England and France Morgan & Co. got $30,000,000. All that ended when the U. S. entered the War, when...
During the War period, as during neutrality, the Guggenheims, William Rockefeller (brother of John D.) and John D. Ryan, heavy owners of copper stocks, made big profits. While neutrality lasted so did speculators such as Jesse L. Livermore and Bernard Baruch. But speculative profits in commodities were reduced when the U. S. Government took control of prices as a war measure. Speculator Baruch himself headed the War Industries Board which fixed the prices...
...biggest fortunes-and the shady fortunes-were mostly made outside of the U. S. in countries which remained neutral. Before 1913 the Swedish match business was divided between a great number of small individual match factories and the large combine of Jönköping. Just before the War Ivar Kreuger had managed to combine the smaller companies into the United Swedish Match Factories, with a capital of four million kroner. This company, like its rival Jönköping, was faced with War-created difficulties in getting raw materials. But Kreuger made deals with belligerents, guaranteeing...
...been born of poor peasants on the island of Majorca. Before the War, March was a small Barcelona trader who sold onions and chickens during the day and smuggled tobacco and silk by night. His smuggling flotilla came in handy as early as October of 1914, when he made a killing by cornering all available pigs on the coast of Spain and selling them to the Entente powers for a fantastic profit. Shortly his smuggling fleet had become the Compania Transmediterranea. This company supplied food to the Entente nations and to German submarines with cool impartiality. By 1916 March...
...labor and capital which war induces neutrals to pour into industrial plants is not wasted-World War I made the U. S. the world's greatest industrial nation. When war ends the markets for war-built industries collapse and those who have built them may lose their investment. But the plants so built are not lost. New markets are eventually found for basic industrial products and the greater part of such industries remain as assets to society, producing real wealth...