Word: trust
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Dates: during 1920-1929
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...that did not prevent the American Piano Co. last week from suffering a sudden glissando into the hands of receivers (Manhattan's Irving Trust Co., appointed by Judge Alfred C. Coxe). The petitioners were W. D. Byrnes, Inc., a Manhattan trucking concern, who in presenting a bill for $7,000, declared that the company's property was valued at $3,689,000. that its current and unpaid liabilities were $1,200,000, that its property assets could not be immediately realized without great sacrifice...
Maurice Falk, rich Pittsburgher, established a $10,000,000 trust fund (Maurice & Laura Falk Foundation) "for the promotion of educational, religious, charitable, philanthropic and public interest." Administered by his nephew Leon Falk Jr. (with whose father he gave the $900,000 Falk Clinic to the University of Pittsburgh) and six others, the principal & interest of the fund must be exhausted in 35 years...
Last week American Express announced it will form American Express Bank & Trust Co. with $10,000,000 capital. Although the new bank will be incorporated in New York, each American Express office will amount to a correspondent, and, should branch banking laws be repealed, could quickly become a branch. In this way Chase may some day have a nation-wide banking system without buying out-of-town banks or forming new ones...
Died. Chellis A. Austin, 53, president of Equitable Trust Co. (Manhattan); at Montclair, N. J.; of heart disease...
...Manhattan, onetime Governor Alfred Emanuel Smith, now enterprising citizen of big projects (part owner of New York "Giants," trustee of New York State College of Forestry, director of the National Surety Company, board chairman of the County Trust Co., and president of Empire State Building Corp.), announced that the plans of the Empire State building, world's largest, tallest, on the old Waldorf-Astoria site on Fifth Avenue, would include a mooring mast as dirigible way-station, 1,300 feet above the street...