Word: mellons
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Dates: during 1930-1939
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Federal Courtroom, Pittsburgh, Feb. 20--The long-hidden personal wealth of Andrew W. Mellon was revealed today as more than $97,000,000 (M), not including the other millions which he holds in such huge corporations as the Aluminum Company of America and the Gulf Refining Company...
...this is where he really should begin. We remember all too well the refusal of Mr. Mellon to countenance the raising of the rediscount rates in 1928 and 1929. And yet if he had followed Mr. Warburg's advice, we can readily imagine the storm of abuse which would have poured in upon him. Indeed, the great political problem of the central bank board will be to find men who will serve for the sake of a moral reward fearlessly when men shall revile them and persecute them, and say all manner of evil against them; to find...
Sessions and exhibits were staged in the new Mellon Institute of Industrial Research building, a vast, square, $4,000,000 structure. Dr. Einstein would have none of that. He said he would address a small audience in a small place. The American Mathematical Society and the American Physical Society arranged his lecture for Carnegie Institute of Technology's Little Theatre, seating 400, then nearly came to blows over distribution of tickets. Five thousand pleas for admission poured in. Said Dr. Einstein gently: "Bah! I will speak to 400-no more. No more would understand." His subject: "A Simple Proof...
...Drake had been in Gulf once before, as assistant to William Mellon. Subsequently he had distinguished himself by serving Andrew Mellon "in a confidential capacity" during the Harding and Coolidge administrations. A moderately successful Springfield, Mass. businessman, he went to Pittsburgh with the Army Ordnance during the World War. There he met the Mellons and the Mellons liked him. They made him successively president of Standard Steel Car, and, in 1930, chairman of Pullman, Inc., where he represented the Mellon interests...
During his three years as president of Gulf Oil, Mr. Drake has had two years of deficits, only one of profit. But like the heads of most Mellon-owned enterprises he has a whopping corporate surplus ($173,000,000 at the last accounting) to give confidence. Mr. Drake's chief corporate worry last week came not from the oil business but from a Federal Grand Jury in Philadelphia which indicted Gulf Refining on 72 counts for working its employes longer than code hours during a labor squabble last July...