Word: stoddards
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What Mr. Morgenthau was up to remained unexplained but at week's end Chairman Marriner Stoddard Eccles of the Federal Reserve Board cleared the atmosphere by announcing the long-awaited increase in reserve requirements. The raise was 33⅓%, which coming on top of the 50% raise last summer was the full limit allowed by law. One-half of the increase will go into effect March 1, the other half...
...vast sums of foreign capital seeking safety in the U. S., broadly hinted that something might have to be done to keep what he called this "hot" money from threatening the U. S. financial structure (TIME, Nov. 23). Last week something was done. With Federal Reserve Board Chairman Marriner Stoddard Eccles alert at his side, Secretary of the Treasury Morgenthau read a 93-word statement at a press conference in Washington...
...President Roosevelt's mind last week was the Roosevelt Bull Market, now running into its 19th month. To the White House he summoned the two men the New Deal has charged with responsibility for the stockmarket's behavior, Chairman Marriner Stoddard Eccles of the Federal Reserve Board, which controls margins and credit, and Chairman James McCauley Landis of the Securities & Exchange Commission, which has the police powers. On leaving the White House, Chairman Landis said nothing. Chairman Eccles reiterated the well-known fact that the long rise has been largely a cash affair-a pronouncement which in another...
Early comers had been spooked by the knowledge that Federal Reserve Board Chairman Marriner Stoddard Eccles, Comptroller of the Currency James Francis Thaddeus O'Connor, and RFChairman Jesse Holman Jones, still convalescent after his air-crash shake-up three months ago, were all in San Francisco. Of these, only Jesse Jones was slated to address the convention but rumor had it that his colleagues represented a New Deal concentration for pressure purposes. It was a false alarm. Mr. Eccles disappeared in the general direction of home at Ogden, Utah. Mr. O'Connor merely issued cheery figures on California...
...astonishment. Marriner Eccles was altogether too big a financial and industrial figure in the West to step completely out of its business scene when he moved to Washington. He not only had to run Eccles Investment Co., which manages the family fortune, but also the family's large Stoddard Lumber Co., First Security Corp. which owns 26 banks in Utah and Idaho, one in Wyoming, Sego Milk Products (now a subsidiary of Pet), Utah Construction Co. (one of Six Companies, Inc. which helped build Boulder Dam) and several lesser concerns...