Word: morgans
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Dates: during 1930-1939
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...Pressed its investigation of the Richard Whitney case as SEC called J. P. Morgan to the stand...
...Last week, to retire the loans and get the money for 1938's construction, Myron Taylor's successor, young Edward R. Stettinius Jr., announced his first big financial operation: flotation of $100,000,000 in ten-year debentures, to take place next month under the wing of Morgan Stanley...
...John Pierpont Morgan...
Despite Richard Whitney's Groton & Harvard background, social connections, family tie-up with J. P. Morgan & Co., his brokerage business apparently went from one financial crisis to another. In 1926 he was so hard-pressed for funds that he hypothecated the funds of his wife's trust fund for a firm loan, subsequently repaid it. In 1929 his brother lent him $500,000. In 1930, same year he became president of the Exchange, Richard Whitney began misusing securities of the New York Yacht Club. By 1931, Depression had nicked him so badly that he used his position...
...member firms (as a firm having no margin accounts Richard Whitney & Co. had always avoided this). Dick Whitney tried to bluff his way through by submitting fake figures, but the Exchange sent accountants to his office. This time, Brother George was in Florida, so Dick ran to Morgan-Partner Bartow with the whole miserable tale and a request for $280,000 more. Banker Bartow went to Lawyer John W. Davis, who forbade any financial assistance as improper. Bartow then motored out to Long Island to see J. P. Morgan himself. "Mr. Morgan was shocked beyond measure. He gave...