Word: stockings
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Dates: during 1920-1929
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...working example of what he meant, he struck $500.000 from the capital account of Cumberland River Power Co., a subsidiary of Samuel Insull's Middle West Utilities Co., now seeking a U. S. license to construct a plant at Cumberland Falls, Ky. Out went a $250,000 stock transaction item between Cumberland Co. and other Insull companies ''to pay for option, engineering reports, license and rights." Out also went a $250,000 pledge by the power company to the Kentucky State Park Commission to develop the property about Cumberland Falls into a park. Kentucky's only...
...York Produce and Sugar Exchanges. He took a hand in Gold Dust Corp. of which he is now chairman. He was invited to reorganize American Cotton Oil Co. and did so with such effect that in about five years the value of the company's stock was multi plied 15 times. That was only the begin ning of a career of reorganizations and purchases. Today George K. Morrow. 55, keen-eyed, grey, sturdy, has a home on Long Island, golfs week-endly at the Pomonok Country Club (Flushing), owns the Mono, yacht of the late Marcus Loew...
...holding company, called First Bank Stock Corp., is designed to tie the banks of Minneapolis and St. Paul into the financial structure of the mining industries of the Northwest. Of its $250,000,000 capital stock some $70,000,000 is being issued in exchange for the controlling interest in the 37 banks. The remainder will be used for future expansion...
...part to get around this legal limitation that bank chains such as First Bank Stock Corp. are formed. A holding company acquires control of several banks, operates them under a unified policy. The bank or banks at the head of the chain act as correspondents and depositories of the reserves of the members, all of which retain their individual identity. The important differences in practice are these...
...Stockton, president of Old Colony, admitted that his company had entered merger discussions which had been broken off-and then renewed, with no decision yet reached. Believing that what a bank president calls a possibility is a sure thing, would-be stockholders eagerly hoisted the price of Old Colony stock in one day from $815 (bid) to $910 (bid). Very little stock was offered...