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...TIME, February 13, in which reference is made to President R. S. Hecht of Hibernia Bank & Trust Company, I cannot refrain from lodging my protest regarding at least one unfair reflection. . . . That John J. Gannon, whom he (Mr. Hecht) displaced, spent the brief balance of his life cursing Rudolf Hecht in all public places as a double crosser. No more thoroughly incorrect insinuation could you possibly have published, for the facts are that when, 15 years ago, the board of directors decided to retire Mr. Gannon without pay and informed Mr. Hecht that they wanted to elect him president...

Author: /time Magazine | Title: Letters: New Orleans Crisis | 2/27/1933 | See Source »

...Orleans' $65,000,000 Hibernia Bank & Trust Co.-third largest bank in the city. To New Orleans it was the fantastic second act of a drama that opened last month with the crash of the big Union Indemnity Insurance group (TIME, Jan. 16), closely associated with President Rudolf S. Hecht of the Hibernia and Senator Huey Pierce ("Kingfish") Long...

Author: /time Magazine | Title: Business: Historic Saturday | 2/13/1933 | See Source »

...that failed subsequent to R. F. C. support, asked for a probe of the Union Indemnity situation. Declaring it "a rotten mess that should and must have full publicity," Congressman Fish also demanded the resignation of President Hecht as chairman of the New Orleans R. F. C. advisory committee. Rudolf Hecht, he charged, had known all along that Union Indemnity was tottering, and as a director he had seen to it that part of the $4,000,000 R. F. C. aid was promptly used to pay off bank loans from his Hibernia Bank & Trust...

Author: /time Magazine | Title: Business: Historic Saturday | 2/13/1933 | See Source »

...words and said: "We cannot stem the tide of economic events." A Bavarian from Ansbach, he learned banking in Chicago, went to the Hibernia 26 years ago. At 33 he was president. John J. Gannon, whom he displaced, spent the brief balance of his life cursing Rudolf Hecht in all public places as a double-crosser...

Author: /time Magazine | Title: Business: Historic Saturday | 2/13/1933 | See Source »

...Rudolf Hecht's side last week rallied Huey Long and his puppet Governor Oscar Kelly Allen. It was Huey Long, in New Orleans to fight a Senate investigation of his political steamroller, who ordered a public holiday on Saturday to give the Hibernia a 48-hour breathing spell over the weekend. But no one at the Friday night conference could recall any historic event that occurred on Feb. 4. Routed from his bed, the city librarian ploughed through volumes of histories. Hours later he reported: "Nothing ever happened in this world on Feb. 4." His thanks was a blast...

Author: /time Magazine | Title: Business: Historic Saturday | 2/13/1933 | See Source »

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