Word: timed
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Dates: during 1930-1939
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...first publicly noted in 1933. Then Chicago's biggest bank, the Continental Illinois, which had taken a bad licking in Willys Overland, and on Insull securities, was the first big time U. S. bank to step up and take advantage of Jesse Jones's offer to buy preferred bank stock with RFC funds. To get new capital Continental sold him $50,000,000 worth...
According to Professor Raymond Moley, the New Deal mounted its economic horse and rode off in all directions about the time accordion-pumping Tommy Corcoran usurped the role of FDR enchanter previously played by guitar-plucking Will Woodin of American Car & Foundry. Woodin economy soon was forgotten, Woodin himself died, but left behind in the Treasury was an American Car & Foundry alumnus, Walter Joseph Cummings. Last week Mr. Cummings was conspicuous for a second time in recent years...
There was soon some criticism of Banker Cummings. In his spare time he was Treasurer of the Democratic National Committee. Another full time job he held down (at $15,000) was as trustee of the bankrupt Chicago, Milwaukee, St. Paul & Pacific Railway. He was also a co-receiver for Chicago Railways Co. and director of half-a-dozen big U. S. corporations, among them the Maryland Casualty Co., then in debt to the RFC to the tune of $17,500,000. The late great Republican Senator James Couzens moved to investigate the ethics of Mr. Cummings' $90,000-plus...
...portly, potbellied, black-mustachioed Philadelphia lawyer named John Graver Johnson (tops among U. S. corporation lawyers and trust protectors of his time) drew up a noteworthy document. It was an iron-clad lease by which Philadelphia Rapid Transit Co. promised to pay 49 small traction companies $7,100,000 a year for 999 years for the privilege of running its street cars over their right of way. For the stockholders of the 49 underlying companies-among them the Wideners, the Elkinses and other First Philadelphia Families-this was a mighty fine deal. Their original investment in one case consisted...
...Recently U. S. Steel turned up in the black (by 47? a share) for the first time since 1937. By last week's end Steel common had fallen almost five points, stood at 70¼ compared to its September high...