Word: raskobs
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Last week Democracy gave a dinner party in Washington to honor Jouett Shouse, new executive committee chairman. Because National Committee Chairman John Jacob Raskob attended as prime guest-speaker, an incipient anti-Brown Derby revolt briefly threatened to wreck the good purposes of this gathering...
When potent southern Senators declined to attend, the meeting appeared likely to be distinguished more for its absentees than its guests. Said North Carolina's Senator Simmons: "Harmony ... requires the unhorsing of Raskob." South Carolina's Senator Blease added: "I've been with the Smith crowd as far as I care to go." The arch-Republican New York Herald Tribune gleefully played up Democratic difficulties, fanned the flames of schism...
...Tennessee's Horton, Indiana's Leslie, New Hampshire's Tobey, Pennsylvania's Fisher, Wisconsin's Kohler. Vice President Curtis who saw the Preakness with Mrs. Gann stayed away, but Charles Curtis Jr. went. From Chicago, came Joseph Medill Patterson and from Manhattan John J. Raskob. Matt Winn, director of Churchill Downs, was as excited as anybody although he has managed the Kentucky Derby for 25 years...
...Smoot of Nevada; on the ground of men tal cruelty; in Long Beach. Elected. Myron Charles Taylor, Manhattan capitalist (banks, railroads, insurance), finance committee chairman of U. S. Steel Corp.; to be a director of the Metropolitan Opera Company, succeeding the late Manhattan capitalist Ogden Mills. Reelected. John Jacob Raskob of Wilmington, Del., chairman of the Democratic National Committee, as a member of the finance committee of General Motors Corp.* Donaldson Brown of Irvington-on-Hudson, N. Y., was appointed to succeed Mr. Raskob as finance committee chairman. Died. Marjorie Cassidy Baer, 29, of Manhattan, wife of Arthur ("Bugs") Baer...
...I.ast week Mr. Raskob announced his idea for a giant investment trust for small-capital men. Theory: Let a workman take, for example, $200 to the proposed trust. For $200 he would be allowed to buy $500 worth of stock, borrowing the other $300 from a bank or subsidiary company, with his stock as collateral. He would then repay the $300 at the rate of $25 a month. Thus might small-capital men, instead of spending on the installment plan for radios, motors, refrigerators, invest in installments in sound "rich-men's" securities...