Word: seligmans
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...this year's unquestioned leader. Top artist was Raeburn with John Lamont of Lamont which went from one anonymous collector to another for $29,000. Others of the school: a small full-length Gainsborough from Mrs. Reid's collection, $5.100; a Lawrence from the late Henry Seligman's collection, $19,000; a Hoppner, $12.500; Isabella, Lady Molyneux by Gainsborough, $10,000; a Romney, $16,000. Millet's The Knitting Lesson, once owned by the late Levi Zeigler Leiter, was sold to Manhattan's John Levy Galleries for $16,000-highest price for any French work...
...Exchange Act carried a rider liberalizing the Securities Act. While the amendments by no means completely satisfied bankers & businessmen. Eustace Seligman of the great Manhattan law firm of Sullivan & Cromwell declared that Congress had met 80% of the objections. Included were amendments to: 1) reduce the statute of limitation in civil suits from ten to three years; 2) permit a defendant officer, director or underwriter to show that factors other than errors or omissions in the registration statement caused loss; 3) require a plaintiff seeking damages for losses to prove that he relied on the errors or omissions (with certain...
...with the President on money matters, he was retired, unthanked, last November. Second was Henry Morgenthau Jr., Undersecretary in name only, who was promptly put in command of the department when Secretary Woodin formally resigned. Third was Earle Bailie, partner in the Manhattan banking house of J. & W. Seligman, who held the job but not the title, because the Senate objected to his Wall Street background...
...Lieut.-Colonel Luis Sanchez Cerro and overthrew the government. The Leguias were thrown into jail, charged with a list of peculations long as their pedigree, a list that reached all the way to Washington where it was testified before a Senate committee that the Manhattan firm of J. & W. Seligman & Co. had paid Juan Leguia a "fee" of $415,000 for the privilege of lending $100,000,000 to Peru. All those bonds are now in default...
...Treasury. Thus if arrant crockery is found, the lawyer responsible may be dis barred. Respectable lawyers will give their clients shyster advice only at the risk of their reputations. For this new tax wrinkle U. S. lawyers can thank Earle Bailie, partner in the banking house of J. & W. Seligman...