Word: trusts
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Dates: during 1920-1929
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Bankers. Search for the new leader might possibly centre along La Salle St., Chicago's banking street. Here are the Reynolds brothers, George McClelland Reynolds and Arthur Reynolds, who last September (TIME, Sept. 17) merged their Continental National Bank & Trust Co. with Eugene M. Stevens' Illinois Merchants Trust Co. to make the second largest U. S. bank. The Reynolds brothers, however, are money makers rather than law makers, and Banker Stevens belongs to the comparatively younger generation. There is also Banker Melvin Alvah Traylor, onetime Texan, head of Chicago's First National Bank...
Noah MacDowell & Co.: Noah MacDowell Jr.; Charles H. Sabin Jr., son of Chairman Charles H. Sabin of the Guaranty Trust Co. (see p. 50) ; Allan A. Ryan Jr., son of Stutz Cornerer Allan A. Ryan, grandson of the late Thomas For tune Ryan; forming a new house...
...Babcock, then chairman of the Mutual Life Insurance Co., was shown that the bank's old charter was very broad, and hence useful. Quickly he reorganized the guaranty & indemnity company as a guaranty trust company. Its capital then (1891) was $100,000, its surplus $720, its undivided profits nil, its deposits nil. Six months later capital was $2,000,000, deposits more than $1,000,000. Thereafter (the corporate name was changed to Guaranty Trust Co. in 1895) growth was sedate, based on insurance policy loans and railroads trusteeships. That is, until Morgan Partner Davison took hold...
...founding of the Bankers Trust Co. was also his work...
...addition to electing their candidate, the Republicans also came out of the campaign with a treasury surplus of $285,000. Democrats, however, borrowed $100,000 from Mr. Raskob and $1,500,000 from the County Trust Co., Manhattan. As they spent all but $100,000 of what they were given and of what they borrowed, they now have a one and one-half million dollar deficit to increase post-election headache...