Word: trusts
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Dates: during 1920-1929
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...Governor-General Henry L. Stimson to the Philippine Legislature, published last week by the U. S. War Department, was a long quotation from a survey-report of the Islands by Vice President Lyman P. Hammond of the Electric Bond & Share Co. (part of the so-called U. S. "Power Trust"). The Stimson-Hammond point: Let the Filipinos revise their land and corporation laws so as to permit the introduction of U. S. capital and management. Contrary to custom, even the brashest U. S. liberals were slow to cry "Wall Street" on this occasion. Reason: Statesman Stimson adroitly emphasized the truism...
Headquarters for (a) were to be in Chicago. Headquarters for (b) were Mr. Nutt himself, at the Union Trust Co., Cleveland. To assist him in the East, Mr. Nutt picked out a Manhattanite, Jeremiah Milbank, mild-mannered Yale graduate ('09), careful investor of a multi-million patrimony; clubman, generous donor to philanthropies (especially for cripples); director of such concerns as the Southern Railway, Metropolitan Life, Chase National Bank, Corn Products; board chairman of Case, Pomeroy & Co. Like Banker Nutt and the Democracy's Raskob, Mr. Milbank is new-to politics but widely acquainted, keen to learn...
Chicago obligingly furnished a list. It pointed to the offices of the Illinois Merchants Trust Co., where sat Minnesota-born Eugene Morgan Stevens, golfer, fisherman, bond expert, and New York-born Frederick Tudor Haskell, trained in Chicago banking for 55 years. It pointed to the "biggest" Continental & Commercial National Bank with its Brothers Reynolds, Arthur of the potent Armour meatpacking interests, and, George McClelland, who politely declined in 1909 to be Taft's Secretary of the Treasury. It pointed to big but smaller banks, to the Chicago Trust Co., from whose roster of vice presidents the U. S. Chamber...
...money. Incessantly he spoke on the small tradesman and farmer, and wrote about them in The Commoner, weekly journal of one man's opinion, which endured through 22 years in spite of its spotty journalism and shortage of advertisements. For on principle Bryan refused to accept advertising of trust-made goods, though his sheet "reeked with patent medicine advertising." Indifferent to his meagre advertising columns, he reveled in belaboring the Republicans for their sins, championed religious freedom (the Dayton trial was 22 years later), applauded T. R.'s trustbusting, deplored his inviting Booker T. Washington to dine...
Bonds. C. F. Childs & Co., oldest U. S. house specializing in government bonds, with offices from coast to coast, merged with the American National Co., securities subsidiary of the American Trust Co. of San Francisco. It was pointed out that neither house is "absorbing" the other. C. F. Childs & Co., the bigger of the two, did $4,000,000,000 business in government bonds last year...