Word: trust
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Dates: during 1920-1929
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Fleishhackers. Prominent, for example, are the Fleishhackers-Brothers Mortimer and Herbert. Lean, reserved, relatively unsocial is Mortimer, president of Anglo-California Trust Co. Sharply contrasted is Herbert, stocky, rumpled, good-mixing president of Anglo & London Paris National Bank. A poker-player, a crap-shooter is Herbert; he plays also a talkative game of mediocre and expensive bridge. He unsuccessfully backed local horseracing and doodlebug enterprises. He once raised 600 species of orchids on a bet. The Fleishhackers have wide interests in oil, rails, utilities, industrials...
Other Tycoons. Incomplete must be any brief list of San Francisco financiers. Thus San Franciscans might well object to the omission of John Drum, head of American Trust Co., now, after many mergers, San Francisco's large independent bank ($273,776,849 in deposits). Like Giannini, Mr. Drum is a Papal Knight. He is most famed for his starry-domed marble bungalow atop the Fairmont Hotel atop Nob Hill. Notable also is able Frank B. Anderson, board chairman of Bank of California; his chief idiosyncrasy, a fondness for donkeys. Paul Shoup, President of Southern Pacific Co. also stands high...
...there are only 100,000 outstanding) the 1,200-point rise gave him a paper profit of 24 million dollars. Meanwhile shares in Chase, Equitable, and many another Manhattan bank also enjoyed sensational rises. The bull movement in bank stocks was based on the official ratification of the Guaranty Trust Co.-National Bank of Commerce merger (TIME, March 4) and the resultant activity of rumor-spreaders who busily reasserted and consolidated Manhattan's banking...
Rumors. Most frequently repeated stories were: That the Guaranty Trust Co. and National Bank of Commerce combine would be extended to include the Corn Exchange Bank; that First National would merge with Bankers' Trust; that National City would merge with Equitable Trust Co.; that Chase National would unite with Brooklyn Trust Co. Then there was a truly robust rumor that linked Guaranty Trust Co., National Bank of Commerce, Bankers' Trust and First National in a Morgan-group merger that would be the super bank of all the world. The rumors were all denied and seemed to consist...
Guaranty-Commerce. Merger of Guaranty Trust and National Bank of Commerce, however, was officially established with announcement of officers of the combined institution. No name has been given to the combination, though it was reported that the new bank might be known simply as Guaranty Trust Co., a procedure which would cause Bank of Commerce to pass out of existence in the goth year of its age. As far as merger officers are concerned, Commerce gets the board chairmanship, Guaranty Trust the presidency, as James Strange Alexander, chairman of the board of National Bank of Commerce, and William C. Potter...