Word: trusts
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Dates: during 1930-1939
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...June 1, 1938, black-robed Federal Judge Francis Gordon Caffey looked down from his huge bench in Manhattan's gleaming new U. S. courthouse upon a bank of lawyers. Standing at the flat, mahogany counsel table with a sheaf of notes, earnest, tousle-headed Walter Lyman Rice, trust-busting Special Assistant to the U. S. Attorney General, was ready to give his opening outline of a lawsuit to dissolve $253,000,000 Aluminum Co. of America as a monopoly in restraint of trade...
...Government's smart young men tried to make a forest by presenting a 291-page brief, for Judge Caffey to digest while the defense was in process. He needed a good digestion. With 159 court days behind it, the Alcoa case was last week already the longest trust-busting suit in U. S. history. Only comparable suits in duration and importance were the 50-day prosecution of the Sugar Institute in 1933, the 120-day prosecution which resulted in the dissolution of the old Standard Oil Co. in 1911, and the 31-day prosecution which resulted in breaking...
Between 1921 and 1928 Auto-Ordnance, doing a small, tidy business, sold more than 6,000 Thompsons for a gross of $1,330,000. In 1928, however, death came to Thomas Fortune Ryan. Manhattan's Guaranty Trust Co. became executor, Elder Statesman Elihu Root the lawyer, of the $135,000,000 Ryan estate. In kindly Pacifist Root's scheme of things, the sale of man-killers had no place. Quietly he put Auto-Ordnance on the shelf. The Thompsons, father and son, had done a good selling job, were on the way to making it better, but under...
Government Securities: To check the rise in Government securities in March, April, May, the U. S. Treasury had various Government trust funds sell $90,000,000 of their Governments, but investors with nothing better to do in the last two weeks bid Government securities up to new highs (over 114), thereby reducing interest rates to metaphysical fractions. So New York's great National City Bank complained for all U. S. banks (who now have 60% of their funds invested in Governments): "Treasury bills [are] selling at the virtually non-existent yield of 0.004%, and all maturities of Treasury notes...
...Court: "It will cost approximately 50% more for maintenance than prior to the infant's coming out. Your petitioner has no money of her own." The court spotted her an extra $52,000 out of Daughter Brenda's $154,000 income (from an estate held in trust until Brenda...