Word: nutt
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Dates: during 1930-1939
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...wiser of Cleveland's bachelor brothers of railroading, called at No. 23 Wall Street to transact some business with J. P. Morgan & Co., his biggest bankers. As he chatted in an inner office someone summoned him to an adjoining room. There he found an old friend, Joseph R. Nutt, Cleveland banker. After a brief conversation Mr Nutt produced a document. He beamed while Mr. Van Sweringen signed...
Last week, on the basis of that meeting and that document, a county grand jury in Cleveland indicted Messrs. Nutt and Van Sweringen for fraudulently deceiving the public...
...agreement Mr. Van Sweringen signed was for the sale of $10,000,000 in government bonds from Van Sweringen Corp. to Union Trust Co., of which Joseph R. Nutt was chairman. The bonds were on deposit with J. P. Morgan & Co. against a Van Sweringen loan and were bound by indenture to stay there. But, said the grand jury, the Trust Company used its right of purchase to "window dress" its statement of financial condition in September, making it appear that saleable assets were higher than they really were. That was not all. Mr. Nutt had persuaded Mr. Van Sweringen...
...Brothers Van Sweringen did not have $8,500,000 but they had a vision of the Nickel Plate as a profitable road. With two chief associates, Charles L. Bradley, who owned the Cleveland baseball team, and Joseph R. Nutt, chairman of Union Trust Co., and with several lesser associates, they gave the New York Central ten notes for $650,000 payable one a year for ten years, and they also paid down $2,000,000 in cash obtained as a loan from Cleveland's Guardian Savings & Trust Co. by putting up the Nickel Plate stock as collateral...
...firm's list. Morgan "friends" were in the Senate (California's McAdoo, New Jersey's Kean), in the Hoover Cabinet (Secretary of the Navy Adams), in the Roosevelt Cabinet (Secretary of the Treasury Woodin), on the Supreme Court (Owen J. Roberts). The Republican party (Treasurer Nutt, New York National Committeeman Hilles) and the Democratic (onetime Chairman Raskob) were both involved. Declared the cautious Kansas City Times: "Those favored by Morgan were placed under obligation to him. Some of them were in positions that made the acceptance of such obligation a matter of loose ethics...