Word: walls
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Dates: during 1930-1939
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Chief feature of the Investment News was a daily column of market advice run under the by-line of "Waldo Young." Its author, Editor Clarence Hebb, unwilling to leave Wall Street, announced he would continue the column as a broker's tipsheet. Meanwhile, the Wall Street Journal took over Investment News's 6,000 subscriptions, editorialized: "The business recession, rising costs and taxes upon gross -problems with which all business men are familiar-contributed to the final decision to suspend. More will be heard from this ghastly combination...
...Wall Street Journal, Bond Buyer, American Banker...
...bagged enough businesses in his 58 years to be an ace at U. S. finance. A Chicago reporter, he founded Yellow Cab Co. in 1915, sold most of it to General Motors Corp. ten years later for $43,000,000. Currently he is a partner of Lehman Bros., potent Wall Street investment house which controls Transcontinental & Western Air. For several months Aces Hertz and Rickenbacker have been engaged in an air duel which was small stuff for Ace Hertz but big for Ace Rickenbacker. Last week it became apparent that "Eddie" Rickenbacker had won, as North American Aviation, Inc., which...
...knew that this pleasant state would be unlikely to continue after a merger with TWA. He also knew that TWA is in anything but healthy financial shape. So he asked General Motors to stall for a few weeks while he hunted for other buyers. These he found in the Wall Street investment houses of Smith, Barney & Co. and Kuhn, Loeb & Co. When they agreed to put up $3,500,000 in cash, keep the line independent and give General Manager Rickenbacker complete operating control, John Hertz gracefully folded his wings and yielded the battle. Said Eddie Rickenbacker: "I am glad...
...brokers could not believe their ears. Indeed, as the report shot through Wall Street it was not believed until the Stock Exchange issued a public statement. For Richard Whitney was the Depression president of the Stock Exchange, is a brother of Morgan Partner George Whitney. Richard Whitney & Co. had always been known as "the Morgan brokers." It was in behalf of a Morgan banking group that Richard Whitney strode across the floor to U. S. Steel post on a dark day in 1929 to bid $2.05 per share for 25,000 shares of steel -15 points above the market. That...