Word: trusts
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Dates: during 1920-1929
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...course. Where bond issues reach into thousands of millions, the banking fraternity will whoop it up in glee, of course. What if the wary investor steers clear of such bonds, having in mind fresh cancellations of German bonds 5c per $100? There are plenty of estates held in trust and plenty of innocent widows and orphans on whom the bank's allotment will be palmed off all over the United States...
Equitable-Seaboard. To a Manhattan blase with bank mergers, the union of Equitable Trust Co. with Seaboard National Bank (the unwieldy new name is Equitable Seaboard Bank & Trust Co.) created no furor. Yet the new institution ranked as fifth largest U. S. bank* with resources of approximately 900 million dollars. The new bank will operate under a state trust company charter, thus marking the passing of another (Seaboard) national bank. Merger terms specified exchange of 1 ½ shares of Equitable for one of Seaboard, the Seaboard share carrying with it a share of Seaboard National Corp., the bank...
Standard argument of the investment trust is the alleged inability of the individual to choose stocks wisely. Let older and wiser heads, operating with large amounts of capital (runs the argument) do your investing for you. Then to you the poorhouse will never beckon, and at your door no wolf will ever howl. Logical, in many ways, is this theory (though it involves faith, hope and occasionally some charity regarding investment trusts and their management) but many a U. S. investor, doggedly individualistic, will doubtless continue to pick his own issues, watch his own ticker and, if necessary, lose...
...years ago, Homer Guck was running two smalltown newspapers nearby, the Houghton Mining Gazette, the Calumet News. The young editors were friends, newstraders. When their ways parted, Col. Knox went to Mr. Hearst's chainpapers, Publisher Guck to Detroit to learn insurance (Detroit Life) and banking (Union Trust Co.), to make a reputation,as a city-booster...
Dislikers of the Power Trust remarked that although International Paper & Power Co. does not sell power in the Carolinas and Georgia, the papers purchased by LaVarre and Hall are all in or near the Piedmont waterpower section of the southeast...