Word: stutz
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...notable feature of the early 1920's was the Stutz Bearcat, a fast & flashy automobile that rode, looked, and sounded like a racing car. About the same time that Bearcats were reaching the peak of playboy popularity, Stutz Motor stock provided some excellent advertising by rising in a brief period from $70 per share to $724. That was the notorious "Stutz Corner" engineered by Allan Ryan, son of the late Thomas Fortune Ryan who in his will cut off his speculative heir with a set of pearl studs...
With the exception of the Piggly Wiggly corner in 1923, the Stutz coup was the last big corner ever executed on the New York Stock Exchange. In a pious moment a few years later the Governors took steps to prevent them by rules & regulations. Another result of that squeeze was to dump considerable amounts of Stutz stock in the hands of the good friends of Allan Ryan's father-principally Charles Michael Schwab. Except for one short interlude, Bethlehem Steel's aging chairman has had Stutz ever since...
Last week Stutz again made rousing news, this time in connection with what smart young SEC Attorney John L. Flynn called "a gigantic interstate stock swindle." Revealed at SEC hearings in Chicago were methods of mulcting the public that have seldom been surpassed for devastating certainty...
...years ago when Stutz was short of cash it approached its traditional patron by way of his brother, Edward Schwab, who now manages most of the old steelmaster's business affairs. Brother Edward said he had no funds available but if a buyer could be found for the Schwab Stutz holdings, he would loan the proceeds to the company. Forthwith the Stutz bankers produced one Samuel Genis, who took an option on the 30,000 shares and who was missing last week when SEC wanted to question him. So far as the Schwabs were concerned, the transaction ended then...
Baker, Dr. Karl T. Compton, President of Massachusetts Institute of Technology, Dr. George W. Lewis, Director of Aeronautical Research, National Advisory Committee for Aeronautics; Clarence D. Chamberlain, Trans-Atlantic flier; James H. Doolittle, speed flier; and Edgar S. Gorrell, President, Stutz Motor...