Word: morganized
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Dates: during 1930-1939
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...hours and 81 pages of testimony later, weary Franklin Roosevelt had uncovered neither political dynamite nor very much else, told the directors to give him further "facts" a week later either in person or in writing. Breaking his silence, Chairman Morgan had the last word: "I personally want to thank the President very much for the fine consideration he has shown...
...than before but also less of a threat, the strange behavior of the TVA directors still awaited a satisfying explanation. Like many another observer, old George Norris, who this week introduced a compromise resolution demanding a five-man Senate investigation, blamed the split on the unbending personality of Arthur Morgan: "I was shocked beyond expression and suffered untold agony of heart when gradually I began to see that he [Chairman Morgan] was moved by an intense jealousy against some of his associates on the Board, and that his jealousy has led him beyond reason and beyond logic. When jealousy, that...
...White House, Chairman Arthur Ernest Morgan of the Tennessee Valley Authority stood up to Franklin Roosevelt as few men have dared to do in years. Meanwhile, TVA's plan to purchase a Commonwealth & Southern subsidiary progressed rapidly...
...bank funds and been sent to jail. Charley Mitchell was penalized for tax deficiencies and Al Wiggin had paid off stockholders to stop their suits. There was old Sam Insull, too, although Wall Street is never very surprised at the shenanigans of a Chicagoan. But Dick Whitney was a Morgan broker. He was the President of the New York Stock Exchange for five years. ''The terrible thing about the Whitney scandal.'' wrote Financial Editor Leslie Gould of the New York Journal & American, "is . . . that the broker was the White Knight of the financial district. Whitney...
...supervision, President Gay grimly mounted the rostrum of the Exchange and suspended Richard Whitney & Co. for insolvency (TIME, March 14). Wall Street's first reaction was outright incredulity that "The Corner" had not bailed out its favorite broker. But it was speedily apparent that The House of Morgan had known nothing of the pending debacle. In fact George Whitney had just gone off for a two-weeks' vacation in Florida. Day after Dick Whitney's failure he rushed back to town, but by then there was nothing anyone could...