Word: miltonic
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Dates: during 1930-1939
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...this principle many minor Revolutionary heroes and obscure Congressmen are omitted, but Volume XX contains an ample history of Samuel Stockton White (1822-79), a Philadelphia manufacturer of dental supplies who notably improved the fit of false teeth. Bridge Expert Shepard Barclay contributes biographies of his late colleagues Dr. Milton C. Work and Wilbur Cherrier ("Quick Trick") Whitehead whose maxim was: "The law of averages is God's law and you can't go very far wrong on that...
David Meriwether Milton, smart husband of John Davison Rockefeller Jr.'s daughter Abby, has been a very busy man the past fortnight. First he journeyed from Manhattan to Chicago to face sharp questioning by Congressman Adolph Joseph Sabath's investigating committee, which originally started out to investigate real estate bondholders' reorganizations. From Mr. Milton the committee wanted to know all about the acquisition of General American Life Insurance Co. by Southwestern Life Insurance Co. last spring (TIME, April...
What happened was that three Dallas lawyers put up a little of their own money, borrowed $2,400,000 from Southwestern Life, bought General American from Mr. Milton's Equity Corp., thereby gaining control of Southwestern Life with its own money-since General American controlled Southwestern. Mr. Milton was unable to satisfy the Committee that there had been no pressure applied by Equity Corp. to make Southwestern make the $2,400,000 loan. Equity's profit in the deal was $425,000. Of the excursion of Investment Truster Milton and his associates into General American, old Congressman Sabath...
Finished in Chicago for the time being, Mr. Milton last week went to Washington to explain to the Securities & Exchange Commission about the complicated maze of Equity Corp. Before going into the story of each of 44 companies which have been involved in the investment trust's activities, SEC Counsel David Schenker drew from Mr. Rockefeller's son-in-law the story of how he got into Equity Corp. For $41,000 cash and 19,000 shares of an inactive insurance stock, Mr. Milton and Ellery Huntington Jr. eventually acquired control of Equity, which managed companies with assets...
First he and his associate bought control of Consolidated Funds Corp., an investment trust which controlled Oceanic Insurance Co., which owned a quarter of Equity Corp. Then Underwriters Equities, a trust controlled by Mr. Milton, sold $900,000 worth of insurance stocks to a company managed by Equity, and the proceeds were used to buy control of Equity. Thus, a $13,000 cash buy into Consolidated Funds plus Equity's own money put Mr. Milton into Equity. Said Lawyer Schenker: ''[It's] a Van Sweringen operation in the investment trust field." After detailing various operations...