Word: pittsburgh
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Dates: during 1930-1939
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...Mellon's five-day appearance on the stand last week was devoted to discussion of the Government's other charge: that he established large losses by fraudulent security sales, chiefly to his own family holding companies (TIME, March 4 & 11). On the first day the old Pittsburgh financier was his usual painfully shy self. But on the second day he perked up, grew garrulous, cracked mild jokes. Coached by his famed chief counsel, smart little Frank J. Hogan of Washington, he seemed actually to enjoy reminiscing publicly over his rise to power, sketching a portrait of himself...
...patriotism had made him pay any tax at all. "I could have, at the time," countered he, "selected enough losses to offset any or all taxes that might have been due. But I felt I still had an income and ought to pay a substantial tax. So I sold Pittsburgh Coal largely to adjust the figure and reach an amount that would be in my mind a justifiable and fair...
...days later Counsel Jackson once more caught the Pittsburgh multimillionaire clearly off base. In 1931 Mr. Mellon sold 123,622 shares of Pittsburgh Coal Co. stock to his Union Trust Co. for $500,000, claiming a $5,600,000 loss for income tax purposes, after which the shares were purchased by a Mellon family folding company. Last week Mr. Mellon declared that he had wanted to unload the stock for years but could find no takers. Tightlipped, menacing, Counsel Jackson advanced on the witness. "You don't mean to say," barked he, "that you had no opportunity to sell...
...doubt about it." Counsel Jackson whirled, whipped from a stack of papers a deposition made by Mr. Mellon in a trial in 1934. in it he had testified that he had three times refused Frank E. Taplin's offer of $10,000,000 for 100,000 shares of Pittsburgh Coal. The first offer was made on June...
...whom the most promising, First-Baseman John Mize, cost $50,000. But the team will start the season with an infield of four rookies, a weak pitching staff. Philadelphia, Brooklyn and Boston are likely to finish in the second division. Among the serious contenders, most experts think the Pittsburgh Pirates, with capable but unreliable pitchers, the Chicago Cubs, with dubious pitching and an experimental infield, are too weak to cause serious trouble for either the New York Giants or the St. Louis Cardinals. The Giants, a brilliant defensive team, were seven games ahead of their nearest rivals a month before...