Word: trusts
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Dates: during 1920-1929
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...plans for a 50,000 acre irrigation system; and for a "P. E." finance corporation to start and develop enterprises dependent upon electric power. By the time Great Britain's mandate over Palestine expires, it is quite possible that Pinchas Rutenberg will have developed a vertical and horizontal trust so vast that the only way of adequately protecting the capital involved will be to create the Seventh Dominion. Certainly the degraded and impoverished natives of Palestine, who would be raised up to "Rutenberg prosperity" during such a process, might be expected to identify the hand of Pinchas Rutenberg with...
...Louis) nicely connected with three splendid north-and-south railroads. In the East, we should have the Reading and the Jersey Central (25% of whose stock we control anyhow) and the Western Maryland (which we also already control but on account of which some persons are bringing anti-trust proceedings against us). We certainly have to have that Reading to give us secure access to New York. Remember that the New York Central and the Pennsylvania are twice as long as we are and make more money per mile of track. Just give us these roads we have mentioned...
...Broadway, Manhattan, stands the home bank of Guaranty Trust Co., U. S. billion-dollar bank. At No. 31 Nassau St., Manhattan, stands the home bank of National Bank of Commerce, U. S. almost-billion-dollar bank. Should a ghost with the gift of flitting through walls flit through the rear wall of Guaranty Trust and continue flitting, it would flit through the rear wall of National Bank of Commerce. For these two great U. S. banks stand back to back. Between them they own almost the entire block bounded by Broadway and Nassau, Cedar, Liberty Streets...
Last week came announcement of the long-rumored merger of Guaranty Trust and National Bank of Commerce (TIME, Feb. 11). Probably a skyscraper will soon be erected on the joint site. With Guaranty Trust already fourth largest and National Bank of Commerce ninth largest among U. S. banks, the merger-bank will pass National City and Chase National, will stand as largest U. S. bank, as first U. S. bank with assets approximating two billions. From the standpoint of capital and surplus the merger-bank will be also world's largest. From the standpoint of deposits and total assets, London...
General interest in the City Trust closure resulted from the fact that Dr. Attilio H. Giannini had succeeded Mr. Ferrari as the bank's president. Dr. Attilio H. Giannini is a brother of Amadeo Peter Giannini, famed Bancitaly Corp. man. Dr. Giannini is also board chairman of the Bank of America, National Association, which Bancitaly Corp. dominates. But there was no suggestion that the City Trust's disgrace was a Giannini disgrace, because Dr. Giannini had been connected with the bank for only a few weeks, and because he could show that he accepted the office only...