Word: mellons
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Dates: during 1930-1939
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...liability side of the U. S. ledger carried a then-stupendous total of $25,000,000,000-and Wall Street had a lucrative new field, trading in Government bonds. First kingpin in this field was Charles Frederick Childs, who sold his business in 1928 after flinty Andrew Mellon's slashing of the public debt by $10,000,000,000 slashed the turnover in "Governments." Although Trader Childs bought back his firm when Depression I brought a new tide of Federal financing, he is no longer kingpin. Now dominating the Government bond business is C. F. Childs's onetime...
Filed in Pittsburgh last week was an inventory of the estate of Andrew Mellon. In 1931 "the greatest Secretary of the Treasury since Hamilton" had an admitted $205,000,000. But he gave $68,000,000 to his children as a 1931 Christmas gift, $35,000,000 to charity, his $50,000,000 art collection to the U. S., vast other sums to favorite Mellon projects like the University of Pittsburgh. At his death only $37,000,000 remained, all of which (except for $180,000 to domestic servants) he willed to his charity outlet, the A. W. Mellon Educational...
This last pile consisted of $520,510 in cash, $1,233,748 in miscellaneous notes, $2,000,000 in real estate, $8.264,004 in Government bonds, $24,489.398 in stocks. Mr. Mellon's holdings showed he had a taste for "blue chips." Among his assets...
...shares Coalesced Co. (Mellon family holding company), at upwards of $10,000 a share, worth...
...shares Aluminum Co. of America (whose 1,472,625 shares of common are about 30% Mellon family-owned), worth...