Word: phenix
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...industry which is waxing in the South is the dairy business. Because the climate is mild and the grazing season long, in the past five years Kraft-Phenix, Southwestern Dairy Products, Southern Dairies (subsidiary of National Dairy...
...purlieus of brokerage houses last week an alert ear might have heard these things whispered: 1) Irving Trust Co. would shortly absorb $191,000,000-in-deposits Chatham Phenix National Bank & Trust Co.; 2) Chatham Phenix was heavily involved in frozen real estate loans; 3) Chatham Phenix had substantial losses through an investment in Empire State Building; 4) The assets of Chatham Phenix were depleted through the sale of Chatham Phenix Allied Corp., an investment trust sponsored by the bank's securities affiliate (TIME...
Promptly bank officials and Chairman Mortimer Norton Buckner of the New York Clearing House made public statements that Chatham Phenix is in splendid condition. A statement was produced which showed that on Aug. 18 the bank had capital funds (resources minus liabilities) of $32,708,000 although since Dec. 31 its deposits had shrunk some $70,000,000. Attorney Thomas Lincoln Chadbourne, director of the bank and its counsel, called all the ugly rumors lies, spoke of their "utter baselessness, sheer malignancy." He said Chatham Phenix would prosecute Mr. O'Connell to ''the very limit...
...Wall Street talking by its sudden acquisition of $9,000,000 Ungerleider Financial Corp. and $20,000,000 Sterling Securities Corp. (TIME, Aug. 17). Last week Atlas made its twelfth purchase since June last year, one bigger than any of the others. This buy was control of Chatham Phenix Allied Corp., formed in September 1929, by the securities affiliate of $326,000,000-in- resources Chatham Phenix National Bank & Trust Co., Manhattan...
...Chatham Phenix Allied was started as an investment trust with the power to do almost anything and $50,000,000 to do it with. It had only about $36,000,000 (a large part in common stocks) in its coffers when it changed hands last week, but this brought to around $75,000,000 the assets of the investment structure controlled by expanding Atlas. Atlas promptly changed Allied's name to Securities Allied Corp. At present the most prominent investment trust which remains directly affiliated with a bank is the $64,000,000 Continental Chicago Corp., identified with...