Word: mellone
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...what bankers fail to explain, and what borrowers-who find the cost of money too high-find irritating, is that bank profits are still rising despite all the wailing about zooming costs. Last week Manhattan's First National City Bank, Manufacturers Trust and Mellon National Bank & Trust all reported first-quarter earnings sharply higher than last year, up as much...
Potent Arm. Mayor Lawrence appeared on the municipal scene just when Financier Richard K. Mellon (Mellon National Bank, Gulf Oil, Alcoa) and a platoon of lesser tycoons were preparing to rip their dowdy old city apart and rebuild it. Lawrence proved to be a valuable political ally. He ordered strict enforcement of smoke-control ordinances, pressured Democrats at Harrisburg and Washington to pass laws and approve appropriations that helped build new roads, bridges and dams. His reward: the business community's gratitude. Four years ago Lawrence's Republican opponent was not even invited to participate in the face...
Last week the Mellon arm was still there, all three Pittsburgh newspapers had endorsed his reelection, the machine was rolling, and Dave Lawrence was on the way to a fourth term. There were few who would say him nay, despite such displays of untidy municipal housekeeping as potholes in the streets and frequent scandal in the police department. For King David, on behalf of bosses everywhere, had tested a new proverb and proved its wisdom: in time of prosperity one towering skyscraper is the equivalent of 7,000 city jobs...
Most businessmen assume that the rapidly rising U.S. population, expected to top 220 million by 1975, will progressively strengthen the nation's prosperity by creating more workers, new consumers, bigger markets, faster sales, greater industrial expansion. Last week Pittsburgh's influential Mellon National Bank & Trust Co. entered a mild dissent, warned that the growing population will produce as many problems as props for the economy. Said Senior Vice President James Neville Land, 62, in the bank's weekly newsletter: "Our rising population is creating pressures on natural resources which tend to retard further increases in material wellbeing...
...publicity-shy Board Chairman Joseph Newton Pew Jr., 70, and Avia-tionabob Howard Hughes, 51, $350 million each. No. 5: Texas Oilman Clint ("After the first hundred million, what the heck?") Murchison, 62, $300 million. Tied for No. 6: Pittsburgh's far-visioned Banking Heir Paul Mellon, 49, St. Louis's fun-loving Brewer (Budweiser) August A. ("Gussie") Busch. Jr., 58, and money-pouring Philanthropist John Davison Rockefeller III, 51. In the No. 7 spot and tenth richest: the Coca-Cola Co.'s Director Robert Winthrop Woodruff, 67. What have they in common besides wherewithal? As Writer...