Word: trusts
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Dates: during 1920-1929
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...conventional modes of employing great wealth have not appealed to Edith, daughter of John D. Rockefeller, one-time wife of Harold Fowler McCormick, lion huntress, psychoanalyst, philanthropist, social arbiter. Her method of using her money was to incorporate herself. In 1923 she organized the Edith Rockefeller McCormick Trust, capitalized with a five-million-dollar contribution from her and $1,500 apiece from Chicago realtors Edwin D. Krenn and Edward A. Dato. Last week the E. R. M. Trust announced a new financing of eleven million dollars in five year 6% gold notes, "unconditionally guaranteed as to payment of principal...
Large among San Francisco banks are Crocker First National, Crocker First Federal Trust Co. and American Trust Co. Last week these three institutions merged into one, became rival to Amadeo Peter Giannini's many-branched Bank of Italy. Resources of the merged companies will be more than $400,000,000; deposits more than...
Details of the consolidation have not been announced, except that William Henry Crocker will undoubtedly head the united banks. American Trust Co. has long been associated with the name of John Drum, but as Banker Drum's resignation as American Trust Co. president shortly preceded the merger, it did not appear that the new institution would be at all a Drum enterprise. To most Californians, Banker Crocker is perhaps more a symbol than an individual-a symbol of wealth, position, dignity, correctness. He is the only living son of Charles Crocker, who was one of the founders of Southern...
Last week it appeared that the B. & O. had waited too long, that another railroad had stepped in to make the Canton dream come true. For Canton was sold (price, $13,000,000) to American Exchange Securities Corp., investment affiliate of Manhattan's Irving Trust Co. Obviously the bankers were acting as agents, but for whom they would not state. After many questions, denials and guesses, however, it was stated, unofficially but definitely, that the purchaser was not Baltimore & Ohio but Pennsylvania R. R. Whether the Pennsylvania would keep Canton for itself or sell it to the friendly Wabash...
...York two large institutions, the Chase National Bank, the National Park Bank, at meetings of their respective boards, agreed to consolidate. Total resources of $1,200,000,000 will make the new company the third largest banking institution in the country, exceeded only by the Guaranty Trust Co., National City Bank. In point of total capital funds, it will be the largest with...