Word: walls
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Dates: during 1930-1939
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...Fleming had a big reputation among Hagerstown folk for his ingenious operations. Two years ago, when a patient was brought to him with trachea and larynx squeezed together by an automobile accident, he made an incision in her throat, inserted a rubber tube, and thus provided a firm wall around which a "new" windpipe could grow. Fourteen weeks later he removed the tube, and after a few minor operations, the patient was again able to swallow and talk...
...anyone used to know about Allied's portfolio was its total ($92,000,000 in 1932). Because there were accepted rumors that it was composed of nothing but blue chips. Wall Street was horrified when Orlando Weber was badgered five years ago into admitting that the biggest single holding listed as an asset was really a liability - $31,000,000 of Allied's own stock...
Considering that he is a New Dealer, SEC Chairman William O. Douglas now has fairly good repute in Wall Street. Year and a half ago, however, he could justly claim to be the Street's pet aversion-invited to speak before the Bond Club of New York, he produced a caustic tirade which suggested the entire reshaping of investment banking and left his hearers speechless with fury. Among tart Bill Douglas' minor suggestions was that investment trusts take a larger role in underwriting...
Last week such was Wall Street's mollification toward Chairman Douglas that two of its leading firms finally acted upon this advice. Tri-Continental Corp. and Selected Industries Inc., investment trusts on behalf of whose sponsoring bankers, J. & W. Seligman & Co., the Bawl Street Journal once advertised, "Tri Continental. Tri Chesapeake Corp. Tri Anything Once," decided to tri underwriting. For the purpose they formed a new concern- Union Securities Corp., with $1,000,000 in cash, $4,000,000 more subscribed...
...banker began as a lawyer, in 1919 joined J. & W. Seligman & Co., became a partner in four year. He enjoyed a brief moment of national prominence in 1934 as right-hand man to Secretary of the Treasury Henry Morgenthau Jr., was forced out by Senatorial objections to his Wall Street background...