Word: sweringen
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...Governor Landon made the following statement on May 26, 1933: "'Racketeers like Insull, Morgan and Van Sweringen will be driven out of finance and industry by the scorn of honest people and the strong determination of the Government.' "I ask him, in the face of this statement, if the J. P. Morgan that he classified as a racketeer is not the same J. P. Morgan that has made a large contribution to the Republican State Committee in an attempt to defeat me and the other Democratic candidates...
Left. By the late Mantis James Van Sweringen, Cleveland's onetime railroad and real-estate tycoon; to his brother, Oris Paxton Van Sweringen: an estate of $3,067.85; in Cleveland...
Died. Mantis James Van Sweringen, 54, younger and more retiring of Cleveland's famed bachelor brothers of railroading; of heart disease; in Cleveland. Because of his illness he did not accompany his brother Oris Paxton Van Sweringen to the public auction in Manhattan last September where, with fresh backing, they regained control of their $3,000,000,000 rail and real estate empire for $3,121,300 (TIME...
Though the stock was not actually issued until a year later, trading began in 1934 after the Van Sweringen Brothers proposed to escape an interest default by swapping this prior preferred for the coupons on some Alleghany bonds. To put over the plan the Van Sweringens had to resort to the courts where under Section 77B of the Bankruptcy Act a two-thirds majority can coerce a stubborn minority. Meantime the Alleghany "when issued" stock dropped from $30 per share...
...early period Author Allen describes the Harriman-Hill battle over the Northern Pacific that created a panic in 1901; the collapse of the trust companies in 1907; the Pujo money investigation and the reform movement. His illustrations of post-War conditions include accounts of the Insull and Van Sweringen holding companies; the careers of Charles Edwin Mitchell, Albert Henry Wiggin, Amadeo Peter Giannini; the history of the banking collapse...