Word: trust
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Dates: during 1940-1949
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...next half-dozen years he proved his claim. He extricated the brotherhood from 30 of its 36 fiscal schemes. But he also implicated it and himself in a messy $10,000,000 bank failure-Cleveland's short-lived Standard Trust Bank, successor to the Engineers' National...
Sherneth stockholders had not met since 1936, when, under a ten-year voting trust, a committee of bondholders took over the bankrupt hotel. In 1943, Kirkeby, who has an eye for bankrupt properties, started buying into Sherneth. When the voting trust expired this January, he owned $1,000,000 worth of the corporation'" bonds, 26% of its stock. But the trustees refused to give him a voice in running the hotel. So, his dander up, Kirkeby began collecting proxies...
There, under a rust-colored banner bearing the legend "Trust in God and Work," the President received his sixth honorary degree, and extemporaneously admonished the nation: "Work, work, work! . . . Let me tell you a secret. Leadership isn't worth very much unless there are a few workers and followers. That is true on the farm . . . the coal mines . . . the railroads . . . the automobile factories . . . the mills. Get in line...
...York, the Anti-Trust Division of the Department of Justice filed a complaint against Inco, its wholly owned U.S. subsidiary, International Nickel Co. Inc., and three U.S. officers of both companies, President Robert C. Stanley, Executive Vice President John F. Thompson, Vice President Paul D. Merica. The charges: 1) conspiracy to prevent competition in the nickel industry, 2) fixing prices, 3) making cartel agreements with I. G. Farbenindustrie, A. G. and two French companies to prevent competition and peg prices in the world market. Said Justice: Inco had so increased its nickel shipments to Farben in 1937 that Germany...
...Trusts. Another Little innovation is his policy of setting up nonprofit foundations which purchase his textile mills, or getting outside foundations to buy them. The foundations then lease the mills back to Textron. Example: the Rhode Island Charities Trust owns the Manville Mills and leases them to Textron at $210,000 a year. The U.S. Treasury, always suspicious of any unorthodox financial practices which seem to benefit a corporation taxwise, looked over Textron-connected foundations, dropped the matter. Little's own explanation is that he would rather help charitable foundations while he's alive than will them money...