Word: tradings
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Dates: during 1920-1929
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...Bondfield, onetime shop clerk and now Minister of Labor, adopted a surprising attitude of laissez faire. True, a subcommittee of a subcommittee of a Cabinet subcommittee was established, "to consider and report upon" the situation, but even its chairman. Laborite Rt. Hon. William Graham. President of the Board of Trade, took only perfunctory steps. Inference : Laborite best minds thought, last week, that the Lancashire strikers, if let alone, would win a not too long drawn out victory...
When the Federal Trade Commission became interested in the newspaper-buying activities of International Paper & Power Co. last spring, the fact was disclosed that two young men named William Lavarre and Harold Hall had been commissioned by I. P. & P. to buy a chain of newspapers in the South (TIME, May 20). They bought four: Augusta (Ga.) Chronicle, Columbia (S. C.) Record, Spartanburg (S. C.) Herald and Journal. Purchase money amounting to $870,000, the buyers told the Commission, was loaned to them...
Shenandoah Corp. was broadly empowered to "buy, sell, trade in and hold stocks and securities of any kind . . . participate in syndicates and underwritings . . . exercise such other of its charter powers as its Board of Directors may from time to time determine." The Board thus broadly trusted contained great names, One was Goldman Sachs & Co., potent financiers. Another was Harrison Williams, potent utility man. After the House of Morgan has taken its bow as First in Finance, it is questionable whether any other banking house, from the standpoint of present and recent activity, much outranks Goldman Sachs. As for Mr. Williams...
Able are the younger Sachses but the weightiest thinking and most potent activities of Goldman Sachs proceed from Partner Sidney Weinburg and Partner Waddill Catchings. Partner Weinburg, treasurer of Goldman Sachs Trading Corp., has the reputation of being the best "picker" (of likely issues) in the Street. A small but significant example of his selective ability has been furnished by the annual outings of the Bond Club. At this outing, automobiles are put up as prizes, tickets on the automobile are issued, and the Bond Clubbers trade in the tickets in such a manner that the smartest trader wins...
Just as other power men have become newspaper owners to ensure a market for their papermaking subsidiaries (TIME, April 22 et seq.}, so the Insull interests were entering actually into the textile trade to ensure "large numbers of new power customers." Brother Martin Insull said: "The primary object is to serve the textile industry in New England, better business there and increase employment...