Word: morgan
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Dates: during 1940-1949
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...critics had their critics. Times Columnist Arthur Krock pointed out that many now loudest in their protests had kept mighty quiet when earlier committees were giving the third degree to the Morgans, Wall Street and the utilities lobby. Daily News Columnist John O'Donnell, sneering at Hollywood's yells of injured innocence, recalled that the brokers and bankers had taken their mauling in stoic silence. Both pundits needed their memories overhauled. They also seemed to be saying that what was bad enough for J. P. Morgan was bad enough for movie characters...
...Manhattan, 494 rare items of old English silver from the estate of the late J. P. Morgan were auctioned off at record prices: $31,000 for twelve Elizabethan dessert plates, engraved with the Labors of Hercules...
Bill of Divorcement. The Government asked that the 17 defendants be prohibited from acting both as adviser and underwriter for any company, or from having a representative on the board of such a company. Most important, the Government asked that the nine largest firms (Morgan Stanley; First Boston; Dillon, Read; Kuhn, Loeb; Blyth; Smith, Barney; Lehman Bros.; Harriman Ripley; Goldman, Sachs) be prevented from participating in any securities-selling syndicate in which any of the others participates...
Plan of Battle. Most Wall Streeters thought that the suit was designed chiefly to make competitive bidding compulsory. It is now optional for industrial security issues. Unnamed in the suit was the second largest (next to Morgan Stanley) investment banking firm in the U.S.-Halsey, Stuart & Co., of Chicago, which has long advocated such competition. The only financier to applaud the suit was another champion of the same cause, Cyrus Eaton, of Cleveland's Otis...
...investment houses had no intention of giving in without a battle (only two weeks ago, said the bankers, they had turned down an offer to settle out of court). Harold Stanley, head of Morgan Stanley, underlined one possible defense. "Everyone knows that for years our industry has been subject to the most minute regulation and scrutiny by the Securities & Exchange Commission,"said he. "Someone, for whatever reasons, has misled the Department." Snorted John M. Hancock, partner in Lehman Bros., co-author of the Baruch-Hancock reconversion report (TIME, Jan. 17, 1944) and ex-U.S. delegate to the United Nations...