Word: trusts
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Dates: during 1920-1929
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...Pittsburgh, Secretary of the Treasury Andrew W. Mellon's Mellon National Bank has more deposits ($145,414,409) than his Union Trust Co. ($128,639,172). Union Trust employes assuage their pride by realizing that their industry brings their bank vast profits. Out of these, their directors last week declared a quarterly dividend of 50%, which is of course the equivalent of 200% a year. George Fisher Baker's First National Bank in Manhattan yields but 100% dividends yearly...
Were a bed slat yanked from under a napping Southern gentleman, he would be scarcely more annoyed than were Southern businessmen last week when Adair Realty & Trust Co. and Adair & Senter Co. (its construction subsidiary) went into bankruptcy in them?have been the warp of Atlanta's community fabric. George Atlanta...
...bankruptcies were caused by suits against Adair Realty & Trust Ca. for $915.45 and against Adair & Senter for $23,221.18. They could not pay their debts promptly, for their own money was frozen in real estate mortgages and in construction projects.* So Adair investors will probably lose about 25% of their money. Said Forrest Adair last week, in rueful summary of the real estate mortgage bond business: "Each separate issue of bonds is made by a separate company, and secured by a separate mortgage, and as to 75% or more of these bonds, the mortgage securing the same is ample...
William Whiteley, son of a country grain dealer, came to London and opened a draper's shop while the U.S. Civil War raged. He put his trust in window displays, at a time when storekeepers had to decoy customers into their murky shops. Victorians were dazzled, and he became the "Universal Provider." When shot to death* in 1907, he had a business worth $4,500,000. This, since the War, has supported the model garden village of Burhill, near Walton on the Thames, where several hundred aged men and women workers, indigents, prolong a lean existence in 300 cottages...
...student car rule is judicious, fair, and the only alternative time will show it to be such. If it is not, the presumption of trust in the administrators is in favor of the proposition that they will admit they are wrong if they are wrong...