Word: sweringen
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When J. P. Morgan & Co. put the Van Sweringen rail and real estate empire on the auction block last fortnight, it was knocked down to Midamerica Corp., the Cleveland bachelors' new top holding company, for $3,121.000 (TIME, Oct. 7).* Though they are still well able to maintain checking accounts, Messrs. Oris Paxton and Mantis James Van Sweringen needed help to buy back control of their vast possessions which had been taken over by the Morgan banking group for nonpayment of principal & interest on some $50,000,000 of notes. Last week Wall Street still buzzed with gossip about...
Though both George A.'s were seated close to 0. P. Van Sweringen at the auction, they were strange faces to Manhattan newsmen. Spare, bald-pated George Alexander Ball is a power in Indiana politics, a Republican National Committeeman, a close friend of onetime Senator James Watson and divides the honor of being the First Citizen of Muncie. Ind. with his elder brother Frank. The only two survivors of the original five Ball brothers, they make the Ball fruit-jar known to all housewives. They both live in show places on the banks of the White River in Muncie...
...Tomlinson fleet of 15 Great Lakes steamers, two farms where he raises horses, 9,000 volumes of Americana, is board chairman of American Shipbuilding, a director of Goodyear Tire & Rubber and vice president of the Cleveland Baseball Club (Indians). He also sits on the boards of 16 Van Sweringen railroads, though he was President Wilson's Wartime Director of Inland Waterways...
...were representatives of the bankers who bid to protect themselves. At a tall desk with clerks and calculating machines stood Col. Leonard P. Ayres, Cleveland Trust Co.'s vice president-economist who bid in behalf of Mid-American Corp., especially chartered last week as the new top Van Sweringen holding company. Morgan Partner George Whitney was there with Morgan lawyers. Conspicuously absent was old bush-bearded Leonor Fresnel Loree, who has been built up in the Press as a likely Van Sweringen rival. And toward the rear was the iron-grey head of Oris Paxton Van Sweringen. Brother Mantis...
...preliminary routine of offering the 58 separate parcels, a few lots were knocked down to the banking group or outsiders. But when the auctioneer put up the securities in four big blocks Col. Ayres's bids took only two. The other two groups, largely non-Van Sweringen stocks, went to Hallgarten & Co. for $1,582,000. For control of coal mines, street railways, office buildings, suburban developments, trucking companies, a hotel, a department store and Alleghany Corp., through which they run 23,000 mi. of railroads, "O. P." and "M. J." paid...