Word: norbeck
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...Washington last week Senator Peter Norbeck, onetime South Dakota well-digger, set his Banking & Currency Committee once again to probing buying & selling practices on U. S. stock exchanges (TIME, July 4). They began by poking in the ashes of Kreuger's matchdom. Witnesses brought the Committee up to date on Kreuger history but were unable to shake Senator Reynolds's firm belief in the No. 1 Kreuger legend: that Ivar Kreuger's death was as false as his life. Lesser legends added recently to the great book of Kreuger lore...
...conference report on a bill to free the Philippines ten years after the adoption of a new Island constitution; sent it to the House for concurrence. ¶ Passed a House bill to merge Washington's two street car systems. ¶ Passed a bill by South Dakota's Norbeck authorizing the Secretary of Agriculture to adjust or compromise the repayment of seed loans...
...Insull Utility Investments and Corporation Securities Co. were thrown into bankruptcy. The assets of the latter company, once valued at $153,000.000, were reported so low that the expenses of an inventory could not be met. Other developments followed quickly. At his home in Redfield, S. Dak., Senator Peter Norbeck announced that when Congress reassembles his Wall Street-lashing committee on banking & currency will investigate the Insull affair. In Chicago, U. S. District Attorney Dwight F. Green, whose office gathered the Capone-jailing evidence, started an inquiry. State's Attorney John A. Swanson demanded a $50,000 appropriation...
...cost the Treasury $4,241 when six Senators (North Dakota's Nye, Nevada's Oddie, Illinois' Glenn, Arizona's Ashurst, South Dakota's Norbeck, Montana's Walsh) spent eight Christmas holidays investigating the Everglades as a national park possibility. Double railroad fare was paid for all so they could have individual Pullman drawing rooms or compartments. Two houseboats were hired for five days at a cost of $1,687.50 (auditors first thought the boats had been bought). Observations from a blimp cost $75. A .set of 14 photographs for each Senator added $168 to the bill...
...Stock exchange click up on his big board. For the investment business Banker Neidecker founded Neidecker et Cie. with branches at Geneva, Brussels, London, Buenos Aires. Manhattan correspondent for Travelers Bank is E. F. Hutton & Co. Last April Banker Neidecker and his Travelers Bank were listed among Senator Peter Norbeck's big bad bears...