Word: pyramid
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Imposing is the pyramid of railroad securities erected by Cleveland's diligent Van Sweringen brothers, Oris Paxton and Mantis James. Imposing too is the collection of many shares in many industries used by Clevelander Cyrus Stephen Eaton in his spectacular bids for leadership in industry. About the Van Sweringen pyramid last week swirled gusts of rumor. And many were the tales in Manhattan that a vast shuffle in the Eaton pack had changed his hand...
Almost out of a clear sky came the clouds that massed over the Van Sweringen pyramid. Principal Van Sweringen stocks and bonds in one day suffered the following losses, especially drastic since the market as a whole was strong...
...Clevelanders were not worried by this storm. In fact, knowing Clevelanders chuckled. Astute in many ways are the Van Sweringens. They knew their pyramid had been built quickly, they knew certain bond clauses which demand put up more securities under certain involving lower prices would attract Bears. Long before the gathered they had lined up potent On the actual day of the selling Brother Mantis James was duck-hunting and Brother Oris Paxton was in before the New England governors' railroad committee, urging that the hold over New York, New Haven & Hartford be broken. As expected the storm subsided...
...Pyramid Trusts Flayed. "The mountebanks of the economic world," continued Signore Mussolini, looking several such on the Council benches directly in the eye, "complicate everything with innumerable companies on a chain system, with boards of directors composed of nonentities who exercise no true leadership, often with faked balance sheets and non-existent dividends. They are the true, authentic, most dangerous kind of antiFascists because they speculate on the good faith of the public. Prison is small retribution for their misdeeds. They sow such infinite ruin and misery and they do such harm that they truly deserve Death...
...Lago. A pyramid was simplified last week when Pan-American Petroleum & Transport, 83%-owned by Standard Oil Co. of Indiana, voted to absorb the 3% of Lago Oil & Transport Corp. which is not already in Pan-American's coffers...