Word: sweringen
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Dates: during 1930-1939
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...railroads have been closer to insolvency without actually being in that parlous state than the Erie, whose tracks from Chicago to New York have been kept in operation in recent years only by loans totaling $16.582.000 from Reconstruction Finance Corp. Both lines are part of the old Van Sweringen system and ! last month they b came even more closely related when the Interstate Commerce Commission permitted C. & O. to take direct control of the Erie by acquiring the 50% of Erie stock held by C. & 0. owned Virginia Transportation Corp. and Alleghany Corp. But, as was proved last week, formal...
...Guaranty Trust Co.) found itself out of a job, and after a little dickering moved into E. B. Smith. Senior partner of this bigger & better E. B. Smith was the old Guaranty Co. President, Joseph Rockwell Swan, to whom Senator Wheeler once remarked, in connection with Van Sweringen financing: "I do not doubt your good faith but I do doubt your judgment." The old firm had capital and the Guaranty men had connections-most important factor in investment banking. Among the new partners from Guaranty Co. was a man named Fish...
...just babes in the woods," remarked Robert Ralph Young seven months ago when he and two other inconspicuous capitalists suddenly loomed as financial giants by buying control of Alleghany Corp., holding company for the $3,000,000,000 Van Sweringen rail and real-estate empire (TIME, May 3 et seq.). Since then a bitter autumn has swept bleakly through the financial forest. Last week it became known that the Babes in the Woods had also felt the chill wind. With no cocktails and canapes for the press such as accompanied the original Alleghany sale, it was revealed in a routine...
Will you please refer to the issue of TIME dated Aug. 23, p. 21 under the heading Transport, where you depict the scene of the "Chatsworth Wreck" on the Toledo, Peoria & Western Railroad, particularly, the ending of the fourth paragraph, advising the public the Van Sweringen interests had taken the road out of receivership...
...first place, the Van Sweringen interests never had any part of the Toledo, Peoria & Western Railroad, and to me, this is a grave error, as the shipping public has come to know the Toledo, Peoria & Western Railroad as one of the progressive small railroads in our country. Further, if you will get the financial report as available to you, you will find we have been an aggressive and progressive railroad...