Word: morganized
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Dates: during 1930-1939
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...Episcopal Church Pension Fund, founded in 1917, has prospered well, increased its assets from $8,500,000 to $32,000,000, largely through good management and the fact that among its best friends has been J. P. Morgan. Last week the less-publicized Presbyterian Church Pension Board revealed that it, too, has friends in high places. Its secretary, Rev. Henry B. Master of Philadelphia, announced that the Board's assets have increased from $5,000,000 in 1910 to $35,000,000 today. On its rolls are 96% of all Presbyterian ministers and missionaries, its retired beneficiaries receiving...
...following members were elected to the executive council: Elmer F. Morgan '37, Eoin MacD. Nyhen '38, Frederick L. P. White '38, William R. Woodward 1L, and D. M. Atchley...
When J. P. Morgan & Co. put the Van Sweringen rail and real estate empire on the auction block last fortnight, it was knocked down to Midamerica Corp., the Cleveland bachelors' new top holding company, for $3,121.000 (TIME, Oct. 7).* Though they are still well able to maintain checking accounts, Messrs. Oris Paxton and Mantis James Van Sweringen needed help to buy back control of their vast possessions which had been taken over by the Morgan banking group for nonpayment of principal & interest on some $50,000,000 of notes. Last week Wall Street still buzzed with gossip about...
...York Central R. R. has a problem. It owes $63,000.000 to a group of ten big banks headed by J. P. Morgan & Co. and George Fisher Baker's First National. It owes another $27.000.000 to RFC. Even on Central's billion-dollar balance sheet $90,000,000 of bank and RFC loans is an ominous item. The money was borrowed in the depths of Depression when Central was draining its cash into its huge development program on Manhattan's West Side...
Banker Jackson Eli Reynolds of First National and Morgan Partner George Whitney had a more immediate objection: they thought that with the current low estate of rails they would have a pauper's hard time selling a 4% Central bond, conversion feature or no. Moreover, by selling the bonds as Mr. Jones suggested, they hinted that he was tricking them into "an underwriting . . . forbidden by [New Deal] law." And, listing all the other objections they could think of, together with a counterproposal (put both bank and RFC loans on a six-month-notice basis), Messrs. Reynolds & Whitney wrote...