Word: musicae
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Dates: during 1930-1939
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Poking behind some furniture in a shed near the McKesson & Robbins plant in Bridgeport, Conn, one day last week, Post Office Inspector Samuel MacLennan found two old ledgers. They contained the record, written in his own hand, of 16 of the 18 years that Philip Musica lived and swindled as F. Donald Coster. Confronted with the diaries, the three surviving Musicas promptly pleaded guilty to violation of the Securities & Exchange Act. SEC Examiner Adrian S. Humphrey thought them so important that he adjourned his inquiry until the ledgers had been studied...
Those who examined the diaries said only that they "named new names." Newspapers recalled that in his suicide note Coster-Musica accused unnamed directors of knowing he had kited McKesson & Robbins' assets...
...began an investigation of the Coster-Musica scandal (TIME, Jan. 9), a perversion of Mother Goose went the rounds of Wall Street...
...listing, "without question," to any person who holds an approved position in the U. S. ("heads of the established institutions of learning . . . bishops and chief ecclesiastics . . . presidents of the larger national businesses . . ."). The editors of Who's Who feel that, in their 77,000 listings, "the Coster-Musica fraud has every indication of being unique...
...three weeks officers and directors of the swindled drug firm had been telling New York's Assistant Attorney General Ambrose V. McCall that they had no reason to suspect the late F. (for Philip) Donald (for Musica) Coster. Not so, said Mr. Catchings...