Word: raskob
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Dates: during 1930-1939
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...hope of catching a great big Democratic bear with its paws all sticky with short-selling honey, Senator Peter Norbeck's Banking & Currency Committee last week resumed its investigation of buying & selling practices on U. S. stock exchanges (TIME, April 25, et seq.). John Jacob Raskob was on the witness stand. Witness Raskob quietly sought to prove that his principal business is "trying to make good Democrats out of misguided Republicans," not being a big bad Bear...
Radio. Headline writers last week called the Radio pool of 1929 "The Raskob Pool." Wall Street snorted, knowing full well that shrewd, red-haired Michael J. Meehan, Radio specialist on the Floor, had engineered it. Mike Meehan in 1928 had whipped Radio from $85.25 to over $500 a share (when it was split...
Into his syndicate Broker Meehan drew 63 participants. The biggest names were mostly Irish and Roman Catholic-the late Nicholas Frederic Brady, Thomas J. Regan, William F. Kenny. John Jacob Raskob, each down for 50,000 shares, each depositing $1,000,000. In Broker Meehan's wife's name was another $1,000,000 deposit, for 65,000 shares. Several other wives were listed for large amounts. In for lesser amounts were Percy Avery Rockefeller, William Crapo Durant, Walter P. Chrysler, Herbert Bayard Swope, Detroit's Fisher Brothers. Senator Norbeck was amazed to learn that Comedian Eddie...
...ahead and name the others. Mr. Bragg named John Jacob Raskob. chairman of the Democratic National Committee ; William F. Kenny, contractor friend of Alfred Emanuel Smith; William Crapo Durant, onetime president of General Motors Corp.; General Motorsman Frederic John Fisher, and Michael J. Meehan, theatre ticket seller who rose to Wall Street power by riding Radio from $25 a share...
While the committee was debating whether to call Messrs. Raskob, Fisher and Kenny, Mr. Raskob was waiting patiently in Washington, had even dropped into the hearing one day to see how things were going. Broker Meehan hastened from New York to testify; William H. Danforth of Boston arrived from Florida. Meanwhile Counsel Gray and his assistant David Stock were reading hundreds of anonymous letters giving tips about specific operations and operators. With so much material on hand and so many witnesses waiting to testify, the committee decided to send special investigators to New York, voted to make a full investigation...