Word: trust
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Dates: during 1930-1939
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Many a U. S. citizen speculated how his vast bequest might be spent. Charles Hayden stipulated that it be used to promote the "wellbeing, uplifting and development of boys and young men." To Josiah Hayden (whose own needs were well cared for by a $2,000,000 trust fund from his brother), $50,000,000 meant a chance to wave a golden wand, play fairy godfather...
...more than a year Manhattan's Guaranty Trust Co. has been smoothly squelching Financier Robert Young in a spectacular battle for control of the rich Chesapeake & Ohio Ry. (TIME, April 25 et seq.). Robert Young controlled the common stock of Alleghany Corp., top holding company of the oldtime Van Sweringen railroad domain. But Guaranty was trustee for three Alleghany bond issues under an indenture which specified that whenever the collateral (including Alleghany's C. & O. holdings) behind them fell below 150% of their face value, the bank could impound it. When the collateral so fell, the bank impounded...
...Tobacco War, which swept the tobacco land of Kentucky in 1905, was a strange, remote, bitter fight. It started when farmers' hatred of the newly organized Tobacco Trust exploded: warehouses were burned, an unknown number of barns destroyed, hundreds of tobacco farmers were arrested for arson, murder, conspiracy; martial law shut down...
...Bardsville sensitive young Perse Munn returns after a term in a St. Louis law school, is mixed up in the affairs of the tobacco farmers' cooperative before he knows what it is to mean to him, to his pretty wife, or to the Trust. "Purposes and ideals of the Association," says a member, "is to make those son-a-bitching buyers pay me what my tobacco's worth...
...farmers hold their crop in the barns, while the Trust offers bribe prices to growers who do not belong. When recalcitrant growers refuse to join the Association, they are warned. After two warnings, masked night riders drag them out of bed, force them to destroy their own plant beds. If they still play ball with the Trust, their barns are burned. When the Trust strikes back, 2,000 armed growers march into Bardsville, seize the telephone and telegraph offices, lock up police and firemen, burn the brand-new million-dollar Trust warehouses...