Word: raskobs
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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...
...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...
...Irrepressible Secretary Hurley last week clashed with Democratic John Jacob Raskob. Declared Mr. Raskob in New York: "I have good information that President Hoover will run on a Prohibition referendum platform if his party should adopt such a platform." Retorted Mr. Hurley: "Mr. Raskob is in a position to speak much more accurately of the amount of money he and his associates have spent slandering and misrepresenting the President than he is of the President's views on the 18th Amendment. . . . I'm not speaking for the President and I don't think anyone else...
...Reported also last week was the state of Democratic national finances for 1931.* Income: $1,032.267; outgo: $1.030,486. The committee borrowed from its chairman $122,000, bringing the Raskob loans up to $345,250; from County Trust Co. of New York (of which Mr. Smith is board chairman) $835.318 largely to refinance earlier obligations there. Individuals contributed $68,781 during the year. Largest amount: $25.000 from Vincent Astor, owner of much real estate in Tammany town...