Word: trusts
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Dates: during 1920-1929
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Even more surprising than Mr. Hughes' retirement was the naming of Frank B. Kellogg, as his successor. Like Mr. Hughes, who rose to prominence as an investigator of gas and insurance companies in Manhattan, Mr. Kellogg attained his reputation by prosecution for the Government of the Western Paper Trust (of which he secured the dissolution), by a far-reaching investigation of the Union Pacific Railroad under E. H. Harriman and by prosecution of the Standard Oil Company for President Roosevelt (dissolution also secured). While Mr. Hughes was becoming New York's Governor, Supreme Court member, presidential candidate...
...Boston Bar Association has introduced a bill in the Massachusetts State Legislature prohibiting trust companies from soliciting employment as executor, administrator or trustee by advertisement "or by such other means as would, if employed for a like purpose by a member of the Bar, be a violation of the standards of professional conduct recognized and enforced by the courts of this Commonwealth." The Massachusetts Law Quarterly states the view of the proponents of this measure approximately as follows...
Many of the persons who call upon trust companies in response to advertising have no lawyers and ask the trust officer to recommend a good lawyer. The trust officer gives them a list composed of his friends or friends of the trust company and its counsel. The result is that a small group of lawyers is indirectly getting the benefit of expensive advertising and probate practice is improperly diverted from lawyers who are entirely competent to handle...
...James H. Collins, writing in the current issue of Printers' Ink says: "Fundamentally, the trust company must be either wrong or right. If it is right, and a good thing for the public, the more it advertises and the greater the volume of business it receives, the greater the public good. If the trust company is wrong, why merely prohibit its advertising? Why not have the state cancel its charter? Finally, if a business has a legitimate reason for existence and yet can be advertisingly gagged through legislation that will benefit only a minority, where will the line...
...spiritual, which the United States is capable of producing. In the eager entrance of thousands upon thousands of new students each year into the colleges of the land is the Nation's greatest single promise of a noble and worthy future. May our educational leaders look well to the trust committed them! --Boston Transcript...